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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VAT for e-services provided by foreign companies
Google tax will apply from January 01, 2019 onwards to all e-services purchased from foreign companies. Foreign organizations will be required to register with Russian tax authorities and themselves calculate and pay Russian VAT regardless of whether their counterparty is an individual, legal entity or individual entrepreneur.Read more
Personal income tax for foreign employees in Russia
When foreign nationals start working in Russia, they are often baffled by the calculation of income tax because it is dependent on criteria such as the type of work permit (work permit for highly qualified specialists or regular work permit), tax status in Russia and tax status in foreign nationals’ country of origin. We have outlined below the particularities of personal income tax for foreign employees in Russia.Read more
How do Double Taxation Treaties work in Russia?
What international treaties are being discussed?
If income is received by a resident of one country from another country, such income could be taxed twice: in the country where income is received and in the country where income is paid.
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New OECD Automatic Exchange of Tax Information
New Law to Simplify the Exchange of International Tax Information
The Russian Ministry of Finance has drafted a bill intended to build a legal base for international automatic exchange of tax information and information on financial statements. Tax authorities will oversee this new system.