Frequent mistakes made by employers in employment contracts
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Changes to migration legislation for companies registering foreigners
Companies registering foreign nationals often enquire about the latest changes in migration law, so we wrote an article about recent changes in 2018 and 2019.
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Risks of using incorrect OKVED codes for companies
OKVED (exact translation: All-Russian classifier of types of economic activity) is the Russian Classification of Economic Activities. When companies and individual entrepreneurs register with state authorities, they indicate their type of activity in accordance with this classification, and this information is recorded in the State Register of Legal Entities or State Register of Individual Entrepreneurs.
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Class actions in civil and commercial proceedings
On June 27, 2019, the State Duma passed a federal law that introduced a new legal institution to protect the rights and interests of groups of individuals. Previously, there was no detailed regulation of class actions in civil law, and this gave rise to difficulties in legal actions affecting the interests of groups of people. Class actions are new to civil proceedings but not to commercial proceedings, so amendments have been introduced to the chapter on class actions in the Code of Commercial Procedure.
Corporate and annual financial statements by foreign companies operating in Russia
When foreign companies operating in Russia prepare their annual financial statements, they often have a tough time ensuring that internal corporate reports prepared according to International Financial Reporting Standards (IFRS) match those prepared according to Russian Accounting Standards (RAS). Depending on business operations, this problem may be resolved by either applying the accruals method or using BRIDGE Report.
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Ratification of OECD Multilateral Convention (MLI)
The President of the Russian Federation signed on May 01, 2019 Federal Law No. 79-FZ Ratifying the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Tax Base Erosion and Profit Shifting.
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Job positions without quotas in 2019 in Russia
To protect their domestic labor market, many countries, including Russia, set quotas for employers who wish to hire foreign nationals. Companies need to obtain permission from the state and submit an application to hire foreign nationals from a country with which Russia has a visa regime in place.
Business activity forms for foreign companies in Russia
When setting up a subsidiary/company in Russia, foreign companies need to choose the right type of legal entity/business form for their business in Russia.
Our table shows the types of legal entities/business forms that foreign companies can set up in Russia, comparing the following parameters: general information, registration, registration fees, ownership requirements, legal address, assets, activity, mandatory corporate procedures, reporting, liability, foundation documents, additional procedures, antimonopoly regulations, and management.
Sick leave notes: special cases
When working with sick leave notes, it is necessary to pay attention to certain details not to violate the law. Employers often overlook checking:Read more
Personal income tax declaration for foreigners in Russia
We would like to remind you that the deadline for declaring personal income tax is April 15. Foreigners who have derived incomes for the work in Russia have to make sure that they make their declaration in a timely manner.
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