Blog

RUSSIAN GOVERNMENT PROHIBITS STATE AUTHORITIES TO DEMAND A ROW OF DOCUMENTS

According to new document, to receive public services individuals shall not submit information if state authorities already have it.State officials shall request information from relevant state bodies that have it.The list includes 85 types of documents, such as:Non-crime certificate;Certificate of validity of passport;Registration of foreign citizen at place of residence;Migration…

Apr, 28 2017
COMPANY WITH ONE OWNER CAN BE REGISTERED AT THE BANK

As experiment, started from November 1, clients of Sberbank and VTB will be able to register limited liability company or individual entrepreneur in the bank remotely or in the bank office.It will be not necessary to visit tax office. Such registration will require encrypted and certified digital signature in Sberbank…

Apr, 28 2017
RUSSIA HAS LIFTED UP FROM 51ST TO 40TH PLACE IN DOING BUSINESS RANKING

The Doing Business Ranking reflects welcoming environment for making business in different countries worldwide.In 2013 Russia was on the 92nd place in the ranking, in 2014 on the 62nd place, and in 2015 on the 51st place.New Zealand became the leader of this year ranking. Libya is named the worst…

Apr, 28 2017
THE RATES OF SIMPLIFIED TAXATION SYSTEM CAN BE REDUCED

Russian State Duma considers draft law providing reduction of simplified taxation tax rates:tax base is income, the rate is set at 3% (currently 6%).tax base is income minus expenses, the tax rate is set at 8% (currently 15%).Also, average number of employees shouldnt exceed 150 people (currently 100 people).Furthermore, the…

Apr, 28 2017
WEEKENDS AND HOLIDAYS IN 2017

Russian Government established the following transfer of weekends and holidays in 2017:– from Dec-31 till Jan-8 (9 days);– from Feb-23 till Feb-26 (4 days);– Mar-8 (1 day);– from Apr-29 till May-1 (3 days);– from May-6 till May-9 (4 days);– from Jun-10 till Jun-12 (3 days);– from Nov-4 till Nov-6 (3…

Apr, 28 2017
EXPANSION OF INFORMATION LIST FOR OBLIGATORY DISCLOSURE BY LEGAL ENTITIES

Since October 1, 2016 the list of information for obligatory disclosure by legal entities in the Unified State Register of on activities of legal entities had been expanded.Now it includes:– information on the signs of insufficient property;– information on the financial/accounting statements in cases where such disclosure is obligatory according…

Apr, 28 2017
CERTIFICATE OF INCORPORATION OF LEGAL ENTITIES WILL BE ABOLISHED

According to the order of the Federal Tax Service dated September 12, 2016 certificate of state registration of legal entities and individual entrepreneurs will no longer confirm the fact of their entering into the Unified State Register. Instead, the registration authority will only issue an extract from the relevant register.These…

Apr, 28 2017
WHEN THE COMPANY SHOULD PAY THE BONUSES?

According to the amendments to the Labor Code, since October, 03 2016 employers are obliged to pay the salary not later than 15th day of the month, following the month of payment, and advance payments not later than 15 days after salary payments.For breaching the terms for salary payments employer…

Apr, 28 2017
SUITABLE CONTRACT WITH REMOTELY WORKING FOREIGN CITIZEN

What contract is appropriate to sign with remote working foreign citizen?The first thing that is to be done is clarifying what namely the remote work is. According to the Russian Labor Code, the remote work shall include two characteristic:The work shall be done away from the permanent place of workThe…

Apr, 28 2017
NEW LIMITS FOR SOCIAL FEES WILL COME INTO FORCE ON JANUARY 1, 2017.

In 2017 social fees shall be as follows:To Pension fund – 22% for amounts under 796 000 rubles and 10% for amounts above this limit;To Social Insurance Fund – 2.9% for amounts under 718 000 rubles. Social fees shall not be paid for amounts above this sum;To Medical Insurance Fund…

Apr, 28 2017
REFORM OF DOCUMENT FLOW IN THE SPHERE OF EMPLOYMENT

Several adjustments to employment law shall allow to conclude employment agreement in electronic form.It is presumed that employer shall put an agreement online on web-portal of State information system “Electronic employment agreement”, and employee signs it with “unified system of identification and authorization” on the web-portal. The employee may also…

Apr, 28 2017
IN FEW YEARS, HALF OF THE COMPANIES WILL BE REGISTERED ONLINE

Federal tax service plans to increase amount of companies registered via the Internet up to 50%. At the present time, online-registration is used only by 10% of companies.Now online-registration more available for companies. Thus, it is allowed to use online-registration for companies with more than one founder, if founders of…

Apr, 28 2017
HOW TO ORGANIZE BUSINESS TRIP IN 2017?

Documents required to organize business tripOrganization of business trip requires preparation of assignment letter and business trip order. It is important to specify the purpose of business trip within these documents.Business trip certificate is not required.2. Payment for business tripFor each day spent in business trip employee shall receive payment…

Apr, 28 2017
AMENDMENTS TO THE NOTARY LAW SET NEW ORDER FOR USING POWERS OF ATTORNEY

Several amendments to the Notary law came into force and made some significant changes in rules of operations with powers of attorney (POA).Particularly, the changes have affected the procedure for the revocation of POA. Previously, forms of notification of revocation was not specified by law, therefore even notarized POA could…

Apr, 28 2017
LEGAL ALERT – NEW STATE FEE PAYMENT DETAILS FOR WORK PERMITS AND VISAS

State fee payment details for obtaining work permits and invitation for visas have changed.New payment details are:Beneficiary: УФК по г. Москве (ГУ МВД России по г. Москве л/с 04731399310)Beneficiary Bank: ГУ Банка России по ЦФОINN: 7707089101KPP: 770701001Beneficiary account # 40101 810 0 452500 1 0041OKTMO: 45382000BIC: 044525000

Apr, 28 2017
OVER 654,000 COMPANIES WERE LIQUIDATED BY THE DECISION OF THE TAX AUTHORITIES

During 2016 the tax authorities removed more than 654 thousand companies from the Unified Register of Legal Entities (the Register). It is 84% of the total number of companies liquidated in 2016. Such activity of tax service is related to the campaign against „short-lived“ companies launched early last year. In…

Apr, 28 2017