Implementation of EDM in terms of HR documentation, expense reports and travel vouchers
Client
Representative office of a foreign company.
Sector: pharmaceuticals.
Objectives
Implementation and transition to EDM for personnel records, advance reports and travel vouchers.
Term: 4 months.
Work stages
- Gathering business requirements.
- Description of processes.
- Proposal and coordination of automation options with the client.
- EDM implementation in the following order: HR documents, advance reports, travel vouchers.
- Training of the client's employees.
Result: Automated HR document flow processes, reduced labor costs of the client’s employees on HR administration, minimized the main risks of the company on personal income tax, associated with the lack of documents confirming the economic feasibility of expenses on company cars.
Two deadlines for the submission of a notification and payment of personal income tax
From the beginning of 2024, in each month, apart from December, it will be necessary to pay personal income tax twice and submit notifications on it (subparagraphs "b" of paragraph 1 of Article 1, paragraphs 7-9 of Article 2 of the Law of 27.11.2023 No. 539-FZ):
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Changes in Tax & Labor codes 2024 | Annual accounting & payroll closing & reports | Final payroll calculations & payments
Details
Date & Time
29.11.2023
15:00-16:30 MSK
Language
Russian
Admission
Free
Platform
MS Teams
Speakers & Topics
Maria Brychkova
- Payroll team leader
Payroll settlements with employees. Preparing for annual reporting on personal income tax and contributions. Major changes in the Labor Code of the Russian Federation and the Tax Code of the Russian Federation from 2024
Final payroll settlements with employees for 2023
- Settlements with employees in December. Work during New Year holidays
- Approval of vacation schedule for 2024
- Labor relations with mobilized employees and military registration
Preparation for annual reporting on personal income tax and contributions
- Social payments from December paychecks. Annual social payments for employees in December
- Reporting to Social Fund of Russia
- PIT
Major changes to the Labor Code and the Tax Code from 2024
- Contributions for traumatism. New procedure for confirming OKVED from 2024
- Unified tax account, personal income tax, insurance contributions
- Changes in labor relations with foreign workers
Anna Ivchenko
- Deputy director of the department of accounting services
Preparation for the annual accounts for 2023
- Practical aspects on application of FAS 25\2018 "Lease Accounting", FAS 6\2020 "Property, Plant and Equipment"
- Conducting an inventory as part of the 2023 annual closing, taking into account the new FAS 28\2023 "Inventory".
- Required procedures in 2023 related to the application of the new FAS 14\2022 "Intangible Assets" and 26\2020 "Capital Expenditures".
Reporting exchange rate losses in profit tax declarations
For the period 2022-2024, a special procedure for accounting for exchange rate differences was introduced: exchange rate gains in 2022-2024 and exchange rate losses in 2023-2024 should only be accounted for as soon as the relevant claims (liabilities) are terminated (fulfilled) [i].Read more
1С payroll reports useful for managers
Although many companies operating on the Russian market use 1С for their accounting, we often encounter company executives who do not know how to conveniently retrieve and analyze data from this software.Read more
Amendments to the corporate law due to COVID-19 pandemic
On April 01, 2020, the State Duma passed a bill into law amending the following:
- regulations on the content of annual reports from public corporations (companies) and public not-for-profit organizations;
- regulations providing for special rules for the regulation of corporate relations in 2020;
- regulations suspending certain legislative acts in Russia.
New monthly report to Pension Fund on form SZV-TD from 2020
What employers need to do
20.05.2021 From July 1 positions in HR reports must match those from the national classification system
Employers have been required since the new year to submit employment history reports (SZV-TD reports) to the Pension Fund. This report is related to electronic employment record books and is part of the new electronic document management between employers and the Pension Fund.
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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