Blog

The most important changes in Russian migration law from the beginning of 2020

Foreigners’ period of stay in Russia is suspended From March 15 till September 15, 2020 the term of the following permits will be automatically suspended: visa; migration card; registration at the place of arrival/residence; However, if foreigner changes place of temporary stay or place of residence, she or he should…

Jul, 02 2020
Some categories of foreign citizens will be able to enter Russia

Since June 25, 2020, the highly qualified specialists (HQS) obtained the possibility of a single entry into Russia under the following conditions: • availability of a work permit; • staying abroad. This possibility is set forth in the Parliament’s Decree No. 1671-r dd. June 25, 2020. The following steps need…

Jun, 30 2020
It is planned to use QR-codes instead of passports in Moscow

The Russian Ministry of communications has proposed to conduct an experiment from July 1 to December 31, 2020 on using electronic passports instead of paper ones. It will be possible to use a specially designed app which is called «Mobile ID». The Ministry of communications will be responsible for designing…

Jun, 23 2020
Extension of measures to regulate the status of foreigners

A new Presidential decree amends some provisions regarding foreign citizens. The following permits, which expires from March 15 to September 15, 2020, are automatically prolongated: * Residence/place of stay registration; * Visa; * Migration card; * Temporary/permanent residence permit 2. From June 16 to September 15, 2020 inclusive: * Foreigners…

Jun, 16 2020
Audit of accounting and reporting organization

Audit of accounting and reporting organization is designed to create an impartial view of documents’ reliability as well as information reflected by them. The law obliges legal entities to keep records and keep financial statements, so that the company will be able to provide them to partners, auditors, and employees…

Jun, 11 2020
Time-management tips from VALEN lawyers

Time management is one of the top priorities at VALEN. When working on projects, you need 100% concentration and the ability to switch between tasks. At the same time, it is important for us that our colleagues don’t burn out emotionally and recharge their energy outside the office. What are…

Jun, 11 2020
Accounting and analysis of financial results

Accounting and analysis of financial results are mandatory procedures for enterprises of all legal forms, including LLC. Information on financial results is necessary for comprehensive assessment of the company’s commercial activity. This data is important for owners and executives to make the right management decisions. Moreover, investors, banks, insurance companies…

Jun, 10 2020
Accounting of services provision

Commercial companies usually offer customers and partners not just the products but services as well. It may be the main or associated company’s activity. In any case, if the company provides services, they are subject to accounting. According to the Tax Code a service is an activity, results of which…

Jun, 10 2020
Audit according to sectoral accounting standards

Audit according to sectoral accounting standards is a mandatory procedure for companies which are legally bound to comply with sectoral accounting standards. This category includes non-credit financial and microfinance organizations, management companies, and other businesses. For such companies timely and careful reporting is essential part of business legitimacy. Sectoral accounting…

Jun, 10 2020
Self-isolation regime and digital passes are canceled in Moscow, service sector will also resume its work

The Mayor of the city, Sergey Sobyanin, has declared that from the 9th of June the self-isolation regime in Moscow is canceled. It means that all citizens (including people who are older than 65 years old) can freely walk around the city without making digital passes. Also, the following restrictions…

Jun, 09 2020
The Bank of Russia has drafted new standards of issuing securities

Adoption of new Regulation is caused by legislative amendments in the sphere of issuing securities, which are aimed at simplification of that procedure. Legislative amendments significantly simplify the procedure of preparation documents necessary for emission, submission of documents mentioned for registration to the Central Bank and generally makes easier to…

Jun, 09 2020
Accounting services of contracts

According to legislation, a contract is an agreement of two or more persons include civil rights and responsibilities. Conclusion of contract entails to establishment of a legal connection between parties to agreement. Therefore, in contractual relationship, subjective rights and obligations of parties are realized. An agreement implies contractual obligations: one…

Jun, 02 2020
Accounting services

Professional accounting will allow business owners to make decisions without taking unnecessary risk and will protect them from penalties which may be imposed by tax and other inspection authorities. Accounting services imply several directions of work. The first one is reporting and taxation which includes the following tasks: Forming and…

Jun, 02 2020
Analysis of the company’s assets accounting organization

Analysis of the company’s assets accounting organization is a complex procedure designed to assess the state of the company. The balance sheet provides information on the placement and use of enterprise funds. At the same time, one of the key criteria evaluating financial condition is the speed of asset turnover….

Jun, 01 2020
Accounting services and tax accounting

The law requires to record and systemize information about the objects of business activity – this is what accounting is particularly involved in. It implies that professionals will form financial reports on the main document flow basis of the company which will help internal and external users to assess the…

Jun, 01 2020
Accounting services at simplified tax system

All commercial entities including small and medium sized companies and sole proprietors are obliged to do bookkeeping. However, bookkeeping under simplified tax system has some peculiarities. Although it is easier in comparison with the requirements for companies applying general tax system, some mistakes may lead to penalties and other sanctions…

Jun, 01 2020