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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…
Inspectors that conduct tax audit pay particular attention to accounting of services used by companies. This is due to the fact that work performed by third-party experts is a vulnerable element from the perspective of financial and tax statements, non-compliance of such operations with statutory requirements can be proved quite…
From March 19 to April 30, 2020, courts have been quarantined. The Commercial courts, which have not stopped their work, hold trials only on cases of an urgent nature, simplified and summary proceedings. You can check the updated list of urgent cases on the website of the court. These rules…
From January 1, 2021, amendments to the legislation on taxation of income from deposits and bonds will take force. How will taxation of income on deposits work? Now tax is paid only if the rate on the ruble deposit exceeds 11%, in foreign currency – 9% per annum. This calculation…
On April 2, the Russian President has decided to extend non-working days till April 30 inclusive. In this regard, citizens required any public services have faced a problem of contacting state authorities. Please find below the relevant background information for your convenience: • Courts of general jurisdiction and arbitration courts…
Due to COVID-19 pandemic dissemination new measures aimed at its preventing are being adopted in Russia. New restrictions for a period of April 19, 2020 were introduced by the Decree of Major of Moscow dated April 10, 2020: The activities of enterprises with the exception of continuous-cycle enterprises, health care…
On March 25, 2020 the Russian president took initiative to reduce the general insurance premium rate for small and medium-sized businesses as part of a set of measures aimed to support Russian companies in the face of pandemic. In this regard, on April 1, the Parliament adopted Federal law No….
On April 1, 2020, the Russian Parliament has adopted law amending the existing legislative acts in the corporate relations sphere. It was triggered by widespread dissemination of coronavirus infection in Russia and the suspension of a significant number of companies’ activities. The law is expected to be approved by the…
In the light of COVID-19 dissemination in Russia, Federal Law “On Insolvency (Bankruptcy)” includes rules, governing introduction of moratorium on bankruptcy proceedings for certain economic branches and specific companies. Changes are aimed at preventing bankruptcy of a huge number of companies in current economic situation. We present main provisions of…
The main bill regulating the adoption of these amendments is bill № 862653-7 «On amendments to parts one and two of the Tax Code of the Russian Federation and to Certain Legislative Acts of the Russian Federation», which is being considered by the Council of Federation. According to the text…
During this difficult period, we direct our efforts on getting tax breaks for your business, loans deferrals and reducing costs thanks to which you will maintain your market status. Our team has a financial outsourcing department, which will help to overcome today’s crisis remotely, without a full-time accountant. This will…
In regard to the spread of coronavirus in Russia, the head of state presented additional measures to support citizens and businesses during the crisis: Extra weekend – The week from March 28 to April 5 was officially declared non-working with the wage maintenance. Business support – Extend loans for businesses…
