Reporting exchange rate losses profit tax declarations en konsu

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.

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New monthly report to Pension Fund on form SZV-TD from 2020

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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