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Minfin of Russia has published clarification on how to calculate personal income tax in case an employee becomes Russian tax resident during a particular calendar year. As per the clarifications should a person was abroad more than 183 days during 12 months prior to the date of income earning, then such a person…

New regulations on procedure of notary actions performance are planned to be established in Russia.  These regulations establishing strict list of documents and information, which will be required for performance of notary actions, as well as the form of such information. Moreover, according to regulations notaries will not be allowed to…

Record on unreliable information may become a reason for excluding company from the unified state register for legal entities. This record can relate to information about company location, general manager, founders.  Tax authorities put such record in following cases: due to results of the checkup;due to application of person, which data is…

Staring from July 1, 2017, sick certificate can be received in electronic form by consent of an employee.  To make such certificate valid for accounting purposes employer should do the following: – receive the enhanced encrypted and certified digital signature; – sign up on the Unified Portal of State and Municipal Services www.gosuslugi.ru; – conclude an…

New amendments in Civil Code of Russian Federation have been established. Below you will find an overview of the most important of them. A loan agreement between citizens for more than 10,000 rubles shall be made in writing. If a loan is provided by a company, the contract will be deemed to…

For any company, the block of bank account operations is extraordinary which makes impossible to carry out activities. The reasons why the tax authorities can “freeze” the account may be very diverse: from late submission of tax reports to non-payment of tax payments. Most often there are situations when a document from…

When dismissing employee under agreement of the parties, it is important to follow the procedure of dismissal. Violation may lead to reinstatement of employment and paying to employee compensation in amount of average salary for forced absence.  We would like to draw your attention at some conclusions from court decisions, which…

Depending on terms of storage office documents can be divided into: – temporary (up to 10 years inclusive)Such documents as invoices, agreements on bank account, audit reports, etc.; – temporary (over 10 years)For example, employees’ personal cards, dividend issue lists, accounts of employees, etc.; – permanentIn particular, annual financial statements, IFRS statements, certificates…

According to the Labor Code of the Russian Federation, unauthorized absence is recognized as absence from the place of work without reasonable excuse for more than 4 hours or for the whole working day. Unauthorized absence is a serious violation of labor discipline and employee can be dismissed for that….

On 1 July 2015, the procedure of approaching the Russian market by the foreign companies in the way of creating branches and representative offices has changed, since that  branches and representative offices of foreign companies are obliged to be accredited by the Federal tax service.At the moment a huge amount…

According to the applicable labor law, if the headcount of the company is more than 50 employees, then the employers are obliged either to institute the position of labor protection specialist or to establish the work safety service.Earlier this rule was binding only for companies performing industrial activity, however, the…

The release from currency control is planned for exporting companies. This obligation will be transferred from companies to the banks.At present all companies should prepare supporting documentation and transaction passport for currency transactions exceeding 50.000$.For violation the following fines are fixed – 5000 Rubles for directors and 40.000 to 50.000…

Personal income taxIncome of foreign employees is subject to personal income tax. This tax is paid by the employer.General rate of personal income tax for foreign employees is 30 %.If foreign citizen stays in Russia for more than 183 days per year, he would get status of tax resident and…

Using of commercial secret regime for protecting commercial data is always connected with the risk of disclosure. The grounds for it may be carelessness of employee, who has lost usb stick with data, as well as intentional misuse of right to access protected data.What are most frequent situations of data…

Dealing with frauds is always a very unpleasant experience, especially if you have to take financial responsibility for other people’s fraud as a result of carelessness and unreasonable trust. Electronic signatures (ES) are widely used in the company management. On the one hand, it helps to save time and simplify…

Block of bank accounts is one of the strictest measures. It is particularly unacceptable before important deal or regular contractual payments. At the moment, such penalty is provided only for non-payment of taxes or failure to submit tax declarations, however, soon this situation might be changed.Government is planning to extend…