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10.09.2025
FEDERAL TAX SERVICE HAS UPDATED THE REQUIREMENTS FOR THE PREPARATION OF DOCUMENTS FOR THE REGISTRATION OF LEGAL ENTITIES AND INDIVIDUAL ENTREPRENEURS IN TERMS OF INDICATING OKVED CODES

This is due to the amendments that came into force on September 1, which changed the rules for recording information on types of economic activities carried out by organisations and individual entrepreneurs in the Unified State Register of Legal Entities and the Unified State Register of Individual Entrepreneurs. The new procedure assumes that the registers contain information on OKVED codes of two types: declarative and reporting. The declarative type information is submitted to the registration authority by the applicant when performing registration actions, and the reporting type information will be entered into the registers by the registration authority itself based on data submitted by the Federal Service of State Statistics starting in 2026.

Taking into account the above amendments, the Federal Tax Service has clarified the requirements for filling out application forms submitted to the registration authority when creating legal entities or registering individual entrepreneurs, as well as when making changes to information about them included in the Unified State Register of Legal Entities or the Unified State Register of Individual Entrepreneurs.
09.09.2025
BANKS ARE REQUIRED TO DISCLOSE THE REASONS FOR BLOCKING CARDS AND/OR SUSPENDING ACCOUNT TRANSACTIONS

Bank customers whose accounts or cards have been suspended or access to remote banking services (e.g. mobile application) has been restricted should know the grounds for this and what to do to restore service. This was reported in the information letter of the Bank of Russia.

Thus, banks must provide full information to their clients on the basis of which federal law and in accordance with which of its provisions the decision was taken. Banks should clearly distinguish between the requirements of Federal Law No. 161-FZ on the National Payment System, aimed at combating fraudulent transactions, and Federal Law No. 115-FZ on Countering the Legalisation of Illegal Earnings (Money Laundering) and the Financing of Terrorism. It is important that banks inform clients of what they need to do to protect their rights and lift restrictions.
08.09.2025
CASH WITHDRAWALS AT ATMS AND FINANCIAL GUARDIANSHIP: NEW SECURITY MEASURES ARE PROVIDED FOR INDIVIDUALS

Pursuant to the amendments effective from September 1, 2025, a number of new measures have been introduced to protect bank customers from fraudulent account transactions, including those carried out using ATMs.

Before dispensing cash at an ATM, a credit institution must verify whether there are indications that the transaction is being carried out without the customer’s voluntary consent (under the influence of fraudsters or by the fraudsters themselves).
Moreover, restrictions on cash withdrawals to be applicable  if the credit institution obtains information from the Bank of Russia that the customer or their card is listed in the fraud operations database. In such cases, the withdrawal limit will be 100,000 roubles per month and will remain in effect as long as the relevant information is present in the database.
Another measure aimed at protecting citizens from fraud is the option, by agreement with the bank, to appoint a designated person to confirm the customer’s instructions regarding withdrawals from their account (or deposit), including through ATMs, as well as transfers to third parties. The customer may also define specific criteria for transactions for which confirmation is necessary.
05.09.2025
FROM SEPTEMBER 1, 2025, THE CHARTER OF AN LLC WILL BE ABLE TO LIMIT THE PREEMPTIVE RIGHT OF PARTICIPANTS TO ACQUIRE A SHARE

Starting from the specified date, the company's charter may provide that the rules on the pre-emptive right of purchase do not apply to all or individual participants specified in the charter. In addition, the exercise of this right may be subject to certain circumstances or a period.

The procedure for inclusion and exclusion of relevant rules in the charter has been established. Thus, they can be provided for when establishing the company or subsequently - by a decision of the general meeting adopted unanimously. The fact of adoption of this decision must be certified by a notary. The fact that this decision has been taken must be certified by a notary.
The restrictions on pre-emptive rights established for individual participants defined by the charter will not "follow" the share. In the event of alienation of shares to third parties or other participants, the restrictions on preemptive rights established for individual participants, as defined by the charter, shall lose force and shall not apply to the new owner of the share.
04.09.2025
FROM SEPTEMBER 1, 2025, CONSENT TO THE PROCESSING OF PERSONAL DATA MUST BE DRAWN UP SEPARATELY FROM OTHER DOCUMENTS

On September 1, 2025, the June amendments to the Law on Personal Data will enter into force, introducing a new requirement for consent to the processing of personal data: such consent must be drawn up separately from other information and (or) documents that are confirmed and (or) signed by the subject of personal data.

03.09.2025
AUGUST AMENDMENTS TO AUDIT LAW: A COMMENTARY PROVIDED BY THE MINISTRY OF FINANCE

The Russian Ministry of Finance reports on two new developments in the field of auditing:

1) Decision of the Government of the Russian Federation No. 1181 clarifies the procedure for external oversight of audit firms providing services to public interest entities. In particular, scheduled inspections of audit firms serving public interest entities classified as medium risk have been abolished.

2) Federal Law No. 236-FZ, effective from August 3, 2025, specifies administrative liability for obstructing the lawful activities of an official of the Federal Treasury. A table of fines has been introduced.

 
02.09.2025
AMENDMENTS TO LABOUR LAW FROM SEPTEMBER 1, 2025: WHAT SHOULD AN EMPLOYEE AND AN EMPLOYER TAKE INTO ACCOUNT

There will be many changes in the labour law from September 1, 2025.

Thus, in particular, the Labour Code of the Russian Federation will include requirements for bonus systems from the specified date. The rules for confirming the type of activity for injury insurance will change. New Regulations on the specifics of the procedure for calculating average wages will come into force. There are also innovations in terms of working with personal data.

01.09.2025
NEW SERVICE CREATED TO STRENGTHEN PROTECTION AGAINST FRAUD

Starting from September 1, 2025, citizens will be able to entrust the control of their banking transactions to a relative or friend, who will have the right to confirm or reject money transfers if they appear suspicious. At the same time, the assistant will not have access to the account or the right to conduct transactions independently.

The assistant will have 12 hours from the moment of notification to confirm or reject a transaction. Only the client themselves can initiate the activation of the service. If the client decides to opt out, the bank will be obliged to deactivate the service within 24 hours.

The mechanism applies to money transfers, including those made with bank cards, transfers via the Faster Payments System (FPS), and cash withdrawals.

29.08.2025
CABINET OF MINISTERS HAS RESET THE MANDATORY REPATRIATION AND SALE OF FOREIGN CURRENCY EARNINGS STANDARDS FOR EXPORTERS

The Government has reduced to zero the amount of mandatory repatriation and sale of foreign currency earnings by Russian exporters. 

Previously, exporters (included in the presidential list) had to deposit at least 40% of foreign currency received under foreign trade contracts into their accounts in authorised banks and sell at least 90% of the deposited proceeds on the domestic market.
28.08.2025
RESTRICTIONS ON TRANSFER AND WITHDRAWAL OF FUNDS ABROAD HAVE BEEN CHANGED FOR NON-RESIDENTS

Foreign investors who invest in the Russian financial market under the new rules will be able to transfer funds abroad from In-type accounts. In relation to these investors (foreign persons acting in their interests), restrictions on the return of funds abroad that are recorded in In-type accounts with Russian brokers and trust managers are lifted.

27.08.2025
FEDERAL TAX SERVICE RECOMMENDS INTRODUCING A UNIVERSAL TRANSFER DOCUMENT IN ADVANCE

From 2026, a universal transfer document will be used to confirm the shipment of goods, the performance of work or the provision of services. The formats of documents on the transfer of goods during trade operations and the transfer of results of work (services) will become invalid. 

Businesses are advised to start using the universal transfer document early. Its format combines an invoice and a primary document.
26.08.2025
NEW DIGITAL PRODUCTS ARE ADDED TO THE LIST OF MANDATORY PRE-INSTALLED SOFTWARE FOR 2026

The Russian Government has approved the list of software that must be pre-installed on electronic devices in 2026. The list now includes the Max digital platform, which will replace VK Messenger, present on the list since 2023.

Moreover, another digital product has been added: Lime HD TV will be pre-installed on televisions with a digital control unit.
The default search engine will remain Yandex.
25.08.2025
ACCOUNTING IN NON-CREDIT FINANCIAL INSTITUTIONS: SOME INDUSTRY STANDARDS WILL NOT APPLY STARTING FROM 2026

From January 1, 2026, certain industry accounting standards approved by the Bank of Russia for non-credit financial institutions will cease to apply. The following fields to be concerned:

- raising funds under loan and credit agreements;
- issuance and redemption (repayment) of bonds and promissory notes;
- trust management agreements.
22.08.2025
INCOME: ACCOUNTING REGULATIONS (PBU) TO BE REPLACED WITH THE FEDERAL ACCOUNTING STANDARD (FSBU)

The Federal Accounting Standard "Income" has been approved. It will apply starting with the accounting (financial) statements for 2027. However, organisations may decide to apply the standard before the specified date.

21.08.2025
FINES FOR FAILURE TO GIVE PRIORITY TO AN AMBULANCE HAS BEEN INCREASED

From September 1, 2025, the fine for failure to give priority to an ambulance with a blue flashing light and a special signal turned simultaneously will be set as 7.5 to 10 thousand roubles, while the alternative punishment is provided in the form of deprivation of rights for a period of from six months to one year.

20.08.2025
THE STATE WILL CONTINUE TO SUPPORT RUSSIAN EXPORTERS OF INDUSTRIAL PRODUCTS

The Government has adjusted the rules for providing state guarantees to support the export of industrial products (goods, works, services). Such state guarantees will be provided in 2025 as well - to ensure the fulfilment of obligations of Russian exporters, the deadline for fulfilment of which falls after January 1, 2028.

The conditions for providing state guarantees have been clarified. The loan agreement must include, among other things, the creditor’s obligations to exercise control over the targeted use of loan funds and provisions on the unconditional right of the Russian exporter to fulfil early obligations to repay borrowed funds.
 
19.08.2025
THE PRESIDENT INSTRUCTED TO REDUCE GREENHOUSE GAS EMISSIONS

The President instructed the Government to ensure a reduction in greenhouse gas emissions by 2035 to 65-67% relative to the 1990 level, taking into account the maximum possible absorption capacity of forests and other natural ecological systems and subject to the sustainable and balanced socio-economic development of Russia, its non-discriminatory access to equipment and technologies necessary to reduce (prevent) emissions and (or) increase their absorption.

 
18.08.2025
DESIGNATIONS ‘BIO’ AND ‘ECO’: TERMS ARE EXTENDED FOR ANOTHER 5 YEARS FOR THE USE WITHOUT COMPLYING WITH THE REQUIREMENTS FOR ORGANIC PRODUCTS

Until September 1, 2030, it is permitted to use the words "biodynamic", "biological", "ecological", "environmentally friendly", "green" or words with similar meanings, or their abbreviations, or the designations "eco", "bio" when individualising products and their manufacturers in the absence of confirmation of compliance with the requirements for organic products.

 

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