Article 112 of the Labor Code of the Russian Federation establishes the following non-working holidays in the Russian Federation in 2022: · January 1, 2, 3, 4, 5, 6 and 8...
Read full article...From November 22, 2021, amendments have been made to the Labor Code, allowing employers to transfer personnel document flow to electronic document management (EDM). The following remain mandatory for the employer to keep in...
Read full article...Opening your own company in Russia is generally much easier than the process of its liquidation. The larger the organization, the more difficult it is to terminate its activities. The purpose of this article is...
Read full article...Do employees need to be notified in advance if the organization wants to change salary payment dates, and how much in advance? Let´s say the organization has established the following days for payment of...
Read full article...Please take into consideration that companies registered in Russia are obliged to store their accounting data within the territory of the Russian Federation starting from January 1st, 2022. This requirement extends to physical documents as...
Read full article...The Russian Government has approved the substitute holiday schedule for the calendar year 2022. The following holidays are set in the schedule: • December 31, 2021 - January 9, 2022; • March 6 -...
Read full article...Due to the sharp rise in Covid-19 infection rates in Russia, the Russian government has issued several decrees that will impact business in Russia and the society in general. The main restriction will be...
Read full article...The calendar year constitutes the financial year for companies operating in Russia. As the calendar year ends in less than 3 months, it´s time for companies to begin planning the annual audit for their accounts...
Read full article...Establishing a legal entity or a company in Russia works much in the same way as in other parts of the world, but there are always some country-specific factors to take into account. First,...
Read full article...The Russian Ministry of Finance has proposed several adjustments to the individual income tax, which are expected to be applied during 2022-2024. One of the changes introduces an increase in the tax burden of...
Read full article...The minimum wage in Russia since the 1st of January 2021 is 12,792 Russian rubles or approximately 150 euros per month. Since the living standards and expense levels in Moscow and St. Petersburg are vastly...
Read full article...Russia has been making great strides forward to transfer accounting, payroll and other business administrative documentation into electronic form. This is very important for the economy in general, as outdated accounting and tax-related standards forcing...
Read full article...The Russian economy showed record growth in the second quarter of 2021. The country´s GDP in the second quarter of 2021 showed an increase of 10.3% over the same period last year. The economy...
Read full article...Having accounting in-house or outsourcing accounting, which is the best option? Arranging accounting for your company in Russia, the same as any market, is an important process. When done right, you minimize your time spent...
Read full article...Most foreign companies starting operations in Russia are surprised by the volume and complexity of accounting duties that local legal entities have. In general, the statutory requirements for reports and other filings are quite demanding...
Read full article...Foreign organizations which are registered as tax payers in Russia, but do not operate a legal entity in the country, are required to disclose information about their shareholders starting from May 20th 2021. This applies...
Read full article...Some of the most important information for foreign investors when considering investment projects in countries concern the cost of labor and employment. We put together here a quick guide to payroll taxes and other employment...
Read full article...The Government of the Russian Federation has prepared a number of priority measures to support the economy in the situation of the pandemic of the coronavirus infection COVID-19. 300 billion rubles will be allocated for...
Read full article...On November 1, 2018, RussiaTALK Investment Forum – key event of the Russo-British Chamber of Commerce – was organized in Moscow. The theme of the forum was “Making the Future Real”. The invited participants were...
Read full article...The renewed tax amnesty became effective on 1 March 2018 and will run until 28 February 2019. It allows Russians to voluntarily declare assets and accounts in banks. After the first amnesty was introduced in...
Read full article...After the amendments, foreign nationals are allowed to be registered only at the address where they are actually living in. This means that the employers acting as host parties are not allowed to register foreign...
Read full article...This acquisition strengthens the business of Leinonen Group in Norway and increases the clientele. With this acquisition comes new personnel that bring deeper competences in Norwegian market. “It is great to gain deep local knowledge...
Read full article...Federal treasury departments of Moscow and Moscow region have informed that since February, 6 2017 it should be new details in payment orders for taxes and contributions. Previously the company sent payments through the Branch...
Read full article...A new order in tax rates on profit between budgets, rules of record the expenses for creation the bad debts provision and loss record for the period from year 2017 till 2020 was put into...
Read full article...1. Company State Registration - consolidation of role of the notary in making the transaction with shares Starting from January 1, 2016 the number of...
Read full article...Starting from 2014, Russian transfer pricing regulations have been applied to all cross-border transactions between the foreign parent company and the affiliated Russian entity, regardless of the volumes of the transactions. Transfer pricing regulations affect...
Read full article...The law has been in force since 2014, and the authorities are now checking the fulfillment of these regulations by companies. The law rules that all work places of an employer need to be assessed,...
Read full article...The rule doesn’t apply to employees applying for the “highly qualified specialist” work permit, men over 65 years old and women over 60 years old. Persons who have an education certificate from a Russian institution...
Read full article...Apart from being a meeting forum for industry leaders, TeollisuusSummit offers information about the market areas of Scandinavia, Central Europe, Baltics, Russia, Turkey, Kazakstan and the UK. The seminar is arranged in co-operation with BusinessOulu, Leinonen...
Read full article...The event includes a high level seminar with key speakers and provides matchmaking opportunities for Finnish and Russian companies in a form of a networking buffet. The event is organized by the Finnish-Russian Chamber of...
Read full article..."Leinonen will help us to focus on key business objectives, and will reduce operating costs by streamlining and automating accounting processes.", says Dmitry Shevchuk, Managing Director of Bufab Russia. "We will reduce the cost of support...
Read full article...Hosted by the Finnish Ambassador in London on February 28, the seminar will include presentations from Leinonen Russia, Finnish construction company YIT and the Finnish-Russian Chamber of Commerce. Learn more about this high level seminar...
Read full article...Leinonen will perform local accounting in accordance with the legislation of Russian Federation, reporting in accordance with the requirements of Cramo Group, centralized management of accounting services in Kaliningrad, continuity and quality of the accounting...
Read full article..."Leinonen has offered accounting and business administration services for over 20 years, and has vast experience in internationalization and international business. Reliable, high quality service is the key to success for this family owned business...
Read full article...Investors already present in Russia have confidence in the Russian market. Nearly 80% of these investors plan to increase or maintain their operations in the country. Strong increases in consumption, a robust labour market and...
Read full article...In the 3rd quarter of 2012 growth slowed to only 2.5%. According to the Ministry of Economic Development growth could be 3.7% in 2013 and 3-5% yearly from 2013 to 2030 – 5% according to...
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