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From 2025, new VAT rules will come into force for companies selling goods via marketplaces in Russia. These changes will affect both Russian and foreign sellers from the Eurasian Economic Union (Armenia, Belarus, Kazakhstan, Kyrgyzstan). The legislative changes make significant adjustments to the procedure for calculating and paying VAT, requiring…
Despite the misconception of many people, it is not only citizens of the Russian Federation who may engage in entrepreneurial activity as an individual entrepreneur. Foreign nationals have the right to register as an IE on the territory of the Russian Federation on an equal basis with Russian citizens. The…
One of the ways to protect a business and its reputation is to create a trademark. In legal practice, this term refers to the method of individualization of goods or companies and individual entrepreneurs. The presence of a registered trademark will allow you to prohibit or allow business rivals, as well as partners, to use a similar brand or a similar designation. Unauthorized use of someone else’s trademark can lead to civil, administrative and even criminal liability. From June 29, 2023, the self-employed, as well as foreigners, will be able to register trademarks without confirming the status of an individual entrepreneur, if they conduct entrepreneurial activities.
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 company’s activity.
M&A transactions (mergers and acquisitions) is the process of combining the capital and other assets of two or more companies to consolidate operations and conduct common activities. As a rule, such transactions allow companies to increase their profits by expanding spheres of influence and consolidating the market. Mergers and acquisitions are regulated by the law “On Joint Stock Companies”. A merger is the process of merging two or more companies that form a new legal entity. The newly created company receives all the rights and obligations of other organizations. In this case, liquidation can be implied with the subsequent transfer of assets.
Russian legislation provides a special procedure for the final termination of commercial activity, without transfer of rights and obligations. Each stage of legal entity’s termination is regulated by law. In case of law violation, the procedure may be delayed for a long time or come to a standstill, which is disadvantageous for company’s owner and threatens with large fines.
Significant Supreme Court decisions always attract attention and influence the practice of law by being the subject of discussion in the expert community. Supreme Court judges spend a lot of time parsing similar cases in which lower courts make typical mistakes. It is possible to highlight a number of court…
Liquidation of a foreign legal entity is a multistage procedure introduced by the state and resulting in cessation of operations by companies. After a company officially closes, these data are recorded in the corresponding register and the company is registered as liquidated. At the same time, all its subsidiary offices abroad should also commence the liquidation procedure according to the legislation.
Residence permit – is a document that grants foreign citizens the right to permanently live in Russia, do business, freely move from region to region as well as cross Russian borders. Residence permit grants a foreigner almost the same amount of rights as Russian citizens have and imposes very few restrictions.
Foreign citizens planning to move to one of Russian cities should obtain the document which is called residence permit. It gives them the same rights and obligations as Russian citizens have with few exceptions. Official status relieves foreigners from need to leave country from time to time or stay within the same region. Having a residence permit, a foreigner can freely travel within the country, move from region to region, change jobs, and cross the Russian border as many times a year, as necessary.
Fixed assets are assets and values that are needed for the production, operation of the company. Over time, they transfer their value to products. This happens through depreciation. The main document that governs the accounting of the value of fixed assets is the provision “Accounting for fixed assets” (PBU 6/01) dated March 30, 2001.
The issue of entering into a contract for the sale of an enterprise of a property complex arises quite often and in many areas of entrepreneurship. The set of measures that make it possible to transfer a particular production to the client’s management involves its own characteristics, which will be useful to study both the supplier and the customer.
Property after the liquidation of company its items, valuables and funds that remain after settlements with creditors. The participants of the company can divide it among themselves, and if a limited liability company has a single participant, all values become personal property – a section is not needed in this case.
Russian laws oblige all companies that are engaged in entrepreneurial activities to maintain accounting records. This requirement also applies to individual entrepreneurs, regardless of whether they have employees or not. Accounting is an integral part of the work of any organization. By its state, you can determine how successful the business is, and checking the accounting allows you to track errors in business activity. Thus, it affects efficiency of the entire enterprise. Without expertise, it is easy to miss serious risks and mistakes, fraught with fines or even criminal liability.
