Blog
Recently, the business ombudsman’s office discussed with its participants at a round table on “Monitoring of control and supervisory activities. Interim results and current tasks” the idea of replacing traditional inspections with preventive visits. This approach involves a transition from punitive measures to preventive ones, which will reduce administrative pressure…
On November 8, 2023, a decree was signed on the exchange of blocked Russian assets abroad for assets of foreign investors in Russia. This document introduced significant changes to the rules for handling blocked assets of Russian investors, especially those who own small portfolios. Since the beginning of 2022, Russian…
On August 19, a decree was adopted according to which foreign citizens who disagree with the moral policy of their countries will be able to obtain a temporary residence permit (TRP) in a simplified manner. Citizens of countries that pursue policies that contradict traditional Russian spiritual and moral values have…
An option is a financial instrument that grants the right, but not the obligation, to buy or sell a certain asset (for example, a share in a business) in the future at a predetermined price. This is a kind of contractual insurance that allows you to protect your interests in…
The digital ruble is a digital currency issued by the Central Bank of Russia (or the Central Securities Exchange). It is an electronic equivalent of cash and money held in bank accounts, represented by a unique digital code stored in an electronic wallet hosted on a dedicated platform operated by…
Trademark registration is a complicated process that requires significant time and knowledge of various aspects of the registration process. To ensure successful registration, it is essential to verify the uniqueness and compliance of a proposed trademark with legal requirements. A preliminary check of a trademark can help save time and…
The Ministry of Finance has proposed a tax reform to change the method of VAT payment. According to this proposal, organizations and individual entrepreneurs operating under the simplified tax system (STS) will be required to pay VAT on revenue exceeding 60 million rubles per annum. Under current legislation, entrepreneurs whose…
Affiliated individuals are those who have the potential to influence the activities of other organizations or individuals. These can include major transactions, changes in personnel, or the development of a strategic plan. The term “affiliation” originated in Russia in 1991 with the enactment of the “Competition Law,” which was subsequently…
The US Department of the Treasury has extended the validity of the document allowing payments to be made in favor of the Russian Federation. Such an extension may be the last due to the imminent entry into force of the Decree of the President of the Russian Federation on the…
Since 2022, the Russian Federation has had a temporary restriction on planned and unscheduled inspections of businesses. This measure was necessary to stimulate the economy during the pandemic. This moratorium had a positive impact on business, which sparked a discussion on the abolition of inspections. The moratorium on inspections was…
On July 1, 2024, Federal Law N 100-FZ entered into force, which amends the Tax Code of the Russian Federation. A significant part of it is dedicated to the regulation of trade among sellers from EEU countries via electronic trading platforms. The main changes within the framework of this law…
Since 2022, it has been established that it is necessary to obtain a permit for transactions with a resident of an “unfriendly” country. The types of transactions that need to be authorized before they are made are specified in special presidential decrees. Which operations are subject to restrictions Several transactions…
The Federal Tax Service (FTS) plans to introduce an automated system to determine the tax residency of individuals by 2025. The new system will be based on data on foreign passports and movement across the border, as opposed to the current method of determining status by stamps in passports. According…
Tax depreciation is a critical aspect of financial management for businesses, offering opportunities to offset taxable income by accounting for the depreciation of assets used in income-generating activities.
