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New bills adopted by the government may abolish taxes on foreign business income if the activity is conducted in favor of Russia, and may also allow the application of reduced rates. At the moment, only Russian business has such an opportunity. The laws should mitigate the consequences of the cancellation…
At the moment, the law obliges companies to pay only 10% of half of the market value of the company’s assets. Now the percentage will increase to 15%, which will complicate the exit procedure – the new law indicates that this percentage is paid from the full value of all…
New rules are being introduced on securities trading platforms – now violators may face criminal liability if violations are detected. The Moscow Exchange acted as an assistant to the Central Bank in regulating legal relations in the market. Most of the new sanctions that the authorities have developed against violators…
There are forms of two contracts for opening and maintaining an account in digital rubles. One of the agreements of the Central Bank, which is the operator of the platform, is concluded with users (natural persons, legal entities or sole proprietors). The second agreement is concluded with participants (credit institutions)….
The Parliament approved a draft law that changed the rules for opening accounts by foreigners in Russia. Amendments to the law allow Russian banks to identify foreign individuals and legal entities with the help of foreign banks. It is also allowed to open a bank account in the territory of…
Now it has become possible to open a company in just one day. To do this, you need to use the “State Online Business Registration” service and fulfill the following conditions: The action of the LLC is carried out on the basis of a standard charter. The applicant has an…
In the intricate world of business, various corporate structures and strategies exist, each tailored to meet specific objectives and goals. Among these structures, the concept of a “wholly owned subsidiary company” stands as a compelling example, representing a unique approach to corporate ownership and expansion.
In the intricate landscape of corporate finance, the seamless transfer of money between a parent company and its subsidiary is a critical maneuver that demands strategic planning, precision, and a deep understanding of the intricacies involved. These intercompany fund transfers come in various forms and serve different purposes, but they all share a common thread: the movement of capital within an organization’s internal structure.
Parent companies and subsidiaries are a common corporate structure in today’s business world. This arrangement provides several advantages, such as liability protection, tax benefits, and the ability to access different markets. However, managing the accounting for parent companies and subsidiaries can be complex, requiring careful consideration of various factors and methods. In this comprehensive guide, we will delve into the intricacies of parent company and subsidiary accounting, focusing on key concepts and methods.
In the second quarter of 2023, the Supreme and Constitutional Courts of the Russian Federation adopted new resolutions in the areas of payment of corporate income taxes in bankruptcy. New laws and updates were posted on the official website of the Federal Tax Service of Russia. Some of them will…
The Cabinet of Ministers will reduce the terms of accreditation for business soon. Currently, accreditation takes 61 working days, but after consideration of the new terms, it will be reduced to 54. According to preliminary estimates, accreditation will now be carried out 11.5% faster. The new resolution has already been…
