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Audit according to sectoral accounting standards is a mandatory procedure for companies which are legally bound to comply with sectoral accounting standards. This category includes non-credit financial and microfinance organizations, management companies, and other businesses. For such companies timely and careful reporting is essential part of business legitimacy. Sectoral accounting…

The Mayor of the city, Sergey Sobyanin, has declared that from the 9th of June the self-isolation regime in Moscow is canceled. It means that all citizens (including people who are older than 65 years old) can freely walk around the city without making digital passes. Also, the following restrictions…

Adoption of new Regulation is caused by legislative amendments in the sphere of issuing securities, which are aimed at simplification of that procedure. Legislative amendments significantly simplify the procedure of preparation documents necessary for emission, submission of documents mentioned for registration to the Central Bank and generally makes easier to…

According to legislation, a contract is an agreement of two or more persons include civil rights and responsibilities. Conclusion of contract entails to establishment of a legal connection between parties to agreement. Therefore, in contractual relationship, subjective rights and obligations of parties are realized. An agreement implies contractual obligations: one…

Professional accounting will allow business owners to make decisions without taking unnecessary risk and will protect them from penalties which may be imposed by tax and other inspection authorities. Accounting services imply several directions of work. The first one is reporting and taxation which includes the following tasks: Forming and…

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…