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The bill also provides for the possibility of VAT exemption for individuals. Deputies are considering a bill that will simplify the receipt of a tax deduction in the form of a zero VAT rate for exporters of Russian goods. A taxpayer who intends to receive zero export VAT is obliged…

The Parliament approved a draft law on simplified obtaining a residence permit for foreigners working in the field of information technology. This will affect employees of Russian companies accredited in the Ministry of Finance. To obtain a residence permit, such foreigners will not need to issue a temporary residence permit….

The Ministry of Finance has abolished the requirement to sell proceeds to raw materials and non-raw exports, as well as foreign exchange business contracts. The new rules come into force on June 10. Prior to that, on June 09, Russian President Vladimir Putin canceled the requirement for the sale of…

The Tax Service has extended the ban on blocking business accounts with arrears for one month. The moratorium is valid until July 1, after which debtors will be required to repay the tax debt within two weeks. The ban on blocking business accounts with debts to the budget was introduced…

The State Duma adopted in the first reading a bill on the management procedure in foreign companies, where the share of foreign business is more than 25 percent. It is permissible to introduce external management only in companies that intend to leave the Russian market. External administration can be introduced…

Russian business will get the right to purchase foreign companies that intend to leave the Russian market. The measures are aimed at adapting the Russian economy and preserving jobs. The government has approved 14 new measures to maintain the stability of the Russian economy in the face of sanctions. The…

Due to the coronavirus, there are restrictions on entry to Russia for foreigners. There is a list of countries whose citizens are allowed to enter Russia for tourist purposes. In this case, entry is allowed by air transport. To enter Russia, a negative PCR test in Russian or English will…

Foreign citizens will be able to obtain a residence permit or work permit in Russia under a simplified procedure. A draft law has been prepared simplifying the procedure for obtaining a residence permit for foreigners who do not need a visa to enter Russia. Such foreign citizens will need to…

Senators have passed a law banning the registration of a trademark if the place of its manufacture can mislead the consumer, of course. Now Article 1537 of the Civil Code of the Russian Federation has been supplemented with the norms that the goods are considered counterfeit when a false geographical…

The companies that received the largest revenue on the Russian market in 2020 continue their work in Russia. This conclusion was made based on the study of the activities of the largest foreign companies in Russia. After the introduction of sanctions against Russia, many foreign companies decided to cease operations…

By the end of the year, the Central Bank introduced financial breaks. Now banks have the right not to comply with the limits on currency positions in dollars and euros. Open Currency positions (ORP) are the difference between financial liabilities and claims in a currency. The regulator assured that the…

The Financial Countries Transfer System (SPFS) was developed by the Central Bank of the Russian Federation in 2014 and operates according to international payment standards. A foreign business intending to work in Russia is already joining the SPFS. Now the issue of using SPFS is especially relevant due to the…

The Ministry of Internal Affairs and the Ministry of Labor have prepared a draft law, according to which foreign IT specialists will be able to issue a residence permit in a simplified manner. In accordance with this document, a temporary residence permit will not be required to obtain a residence…

The Eurasian Union on March 17, 2022, by decision No. 35, increased the maximum threshold at which goods purchased in foreign online stores will not be subject to duty. The procedure comes into force on May 01. The new rules for the import of goods are temporary and will be…

In March 2022, laws were passed that change the requirements for obtaining the status of an international company and an international holding company. The changes are as follows: 1) New criteria for granting a foreign company the opportunity to redomicile in the Russian Federation. Companies registered before 01.03.2022 will be…

This year, the President of the Russian Federation issued two decrees No. 79 and 95, which are aimed at maintaining the competitiveness of Russian business in the foreign market under sanctions. The Central Bank of the Russian Federation studied details of it and gave explanations. – Russian business is obliged…