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Checking accounting documentation is an important procedure aimed at preventing errors. Inaccuracies and errors in the papers arise for various reasons: due to negligence, insufficient qualifications of personnel, overwork of employees, computer malfunctions. It is possible to identify errors when calculating totals and when distributing documents by registers. Therefore, all primary documents received by the finance department undergo mandatory verification of accounting documentation. Experts evaluate the forms and contents of the papers. In the first case, they check whether the details are filled in correctly, whether there are signatures, whether other formal requirements are met.

According to recent legislative amendments, companies with more than 49% of foreign ownership have also been given an opportunity to get status of small or medium sized-enterprise. For this, it is necessary to confirm that foreign participant owning more than 49% shares of Russian company is located outside the offshore…

With the introduction of high-alert regime, the authorities promised to suspend control measures for businesses, but tax authorities did not stop working. At the same time, the work of tax authorities continues taking into account the following measures: The reporting deadlines are postponed for all companies, but differ depending on…

On May 21, Mayor of Moscow was signed a Decree on new concessions to the self-isolation regime as part of the first phase of lifting restrictions. Earlier it was allowed to start functioning to industrial and construction organizations. Starting May 25, 2020, the work of the following public organizations resumes:…

According to the statement of Ministry of economic development a draft law on amendments to the Federal law «On the legal status of foreign citizens» is being developed at the moment. In accordance with the proposed amendments it is planned to legalize the residence permit obtainment by foreign citizens on…

The Parliament considered on first reading the draft law, implying the introduction of additional preferential conditions for tenants. The establishing of this draft law is due to the need to provide support to real estate tenants. The draft law provides that tenants of real estate – entities and individual entrepreneurs,…

National non-working period ends on May 12, announced Vladimir Putin on May 11. Regional officials have been tasked with deciding on gradual lifting of anti-coronavirus restrictions independently. At the same time, the introduced regime of restrictions has been remained. Sanitary regulations should be observed to fully exit restrictions regime. Starting…

The current legislation obliges not every individual entrepreneur to maintain accounting records, nevertheless filing statements with tax authorities on a regular basis is a must for all. This is regulated by Federal Law No. 402-FZ. Non-compliance with the requirements entails fines and compulsory liquidation for the entrepreneurs. If it is…

Accounting outsourcing for legal entities and individual entrepreneurs is a remote accounting service that covers the entire range of services required by companies. Outsourcing can solve both project and unforeseen tasks, as well as ongoing, arising on a daily basis. The following tasks may require accounting outsourcing: • preparation of…

Decrees of Mayor of Moscow №55-УМ and №56-УМ dated May 7, 2020, introduced the following amendments to Decree «On the features of responsibility measures for violation of high-alert regime in Moscow by organizations and individual entrepreneurs’ application»: Temporary restrictions on the functioning of trade, public catering, services, culture, education, sports…

The Government extended measures to restrict the entry of foreign citizens to Russia due to the coronavirus pandemic. Previously, a ban on entry into Russia for foreigners and stateless persons was introduced before May 1, 2020. At the same time, exact dates for lifting restrictions are not named yet due…

Currently foreign citizens can visit Russia by applying for a certain category of visa, depending on the purpose of trip. Such visas can be valid from 1 month to 5 years, with a limited period of stay in the territory of the Russian Federation. The new draft law proposes changes…

Recently, amendments were made to the Federal Law dd 26.10.2002 N 127-ФЗ “On insolvency (bankruptcy)” – a legal act regulating bankruptcy process in Russia. One of the changes was an introduction of a new article governing a moratorium on bankruptcy proceedings. Also, legislator established the right of Russian government to…

On April 17, 2020, the Parliament has adopted a draft law providing for provisions simplifying the obtaining of Russian citizenship by foreign citizens and stateless persons. According to the provisions of draft law, additional grounds for obtaining Russian citizenship in a simplified manner for the following persons have been approved:…

Due to the restrictions introduced to prevent the dissemination of a new coronavirus infection, on April 18, 2020 the Russian President adopted a set of temporary measures regulating the situation of foreigners and stateless persons in Russia during the pandemic (COVID-19). So, temporary measures concerning foreigners and stateless persons on…

In order to maintain and stimulate economic activity in the current difficult epidemiological situation, on April 15, 2020, the Moscow Government has adopted a third set of measures aimed at supporting small and medium-sized enterprises. According to the decree on the implementation of the third business support measures, a credit…