15.10.2025

BANK OF RUSSIA HAS OUTLINED THE NUANCES OF MAKING CROSS-BORDER MONEY TRANSFERS THROUGH THE FASTER PAYMENT SYSTEM (FPS)

When making cross-border money transfers through the FPS, system participants are advised to inform the client of any existing restrictions, prohibitions, or special procedures regarding transactions with non-residents before confirming the actions and to post a summary of them in the payer’s banking application.

In addition to confirming the transfer, the banking application should also provide the client with the opportunity to provide information necessary for the FPS participant to decide whether the transfer is related to economic measures; whether or not the competent authority has authorised the transaction (deal) for the FPS participant to conduct control.

14.10.2025

ANOTHER FOREIGN ASSET HAS BEEN TRANSFERRED UNDER THE TEMPORARY MANAGEMENT OF THE FEDERAL PROPERTY MANAGEMENT AGENCY

100% of the shares of VONORUS LLC, owned by Silgan Metal Packaging Mitterdorf GMBH (a manufacturer of metal packaging), have been transferred to the temporary management of the Federal Property Management Agency.

13.10.2025

ELECTRONIC SIGNATURE: RECENT ANSWERS FROM THE FEDERAL TAX SERVICE

We present to your attention 10 recent answers from the Federal Tax Service on frequently asked questions regarding electronic signatures. The questions were asked by users through a special service on the website of the Federal Tax Service.

The Federal Tax Service's responses provide information on, among other things, where a lawyer should apply for a certified digital signature; whether a unified register of issued digital signature certificates exists; the minimum age for an individual to obtain a certified electronic signature verification key certificate; whether multiple electronic signature keys for different applicants can be stored on a single key storage device, and more.

10.10.2025

THE CENTRAL BANK OF THE RUSSIAN FEDERATION HAS EXTENDED RESTRICTIONS ON INTERNATIONAL MONEY TRANSFERS FOR ANOTHER SIX MONTHS

Restrictions on international money transfers have been extended until March 31, 2026.

Russian citizens and non-resident individuals from friendly countries will still be able to transfer up to $1 million to any foreign bank account within a month (equivalent in another foreign currency). Limits on transfers through money transfer systems remain in place - no more than 10,000 US dollars per month.

Limits on transfers through money transfer systems are maintained - no more than 10 thousand US dollars per month (equivalent in another foreign currency).

Individuals working in Russia who are non-residents of both friendly and unfriendly countries can transfer salary funds abroad.

The ban on transferring funds abroad remains in place for individuals who are non-residents from unfriendly countries and for legal entities from such countries who do not work in Russia (except for foreign companies controlled by Russian entities).

Banks from unfriendly countries can transfer funds in roubles using correspondent accounts in Russian credit institutions if the payer and recipient accounts are opened in foreign banks.

The specified prohibitions and restrictions do not apply to operations involving the transfer of funds by foreign investors who invest in the Russian financial market from In-type accounts to accounts abroad.

09.10.2025

IT WAS DECIDED TO MAINTAIN RESTRICTIONS ON TRANSFERS OF FUNDS ABROAD BY NON-RESIDENTS FROM UNFRIENDLY COUNTRIES FROM BROKERAGE OR TRUSTEE ACCOUNTS

From October 1, 2025, the Bank of Russia will suspend the transfer of funds abroad by non-residents from unfriendly countries from brokerage or trustee accounts for another 6 months. This applies to both individuals and legal entities.

The restrictions do not apply to the return of funds abroad by foreign investors (foreign persons acting in their interests) who invest in the Russian financial market. These funds held in In-type accounts with Russian brokers or trust managers.

08.10.2025

PLANNING A HOLIDAY VACATION IN 2026

In 2026, it was decided to move only two days off that fall during the New Year holidays:

- from Saturday January 3 to Friday January 9;

- from Sunday January 4 to Thursday December 31.

As a result, employees with a classic five-day work week will have 12 consecutive days off during the New Year holidays - from December 31, 2025 to January 11, 2026.

Also in 2026, three consecutive days of rest will be:

- from February 21 to February 23;

- from March 7 to March 9;

- from May 1 to May 3;

- from May 9 to May 11;

- from June 12 to June 14.

07.10.2025

STARTING IN OCTOBER, THE MY SIGNATURE APP WILL ALLOW YOU TO SIGN TAX RETURNS

The Federal Tax Service announces the expansion of the functionality of the online signing service for electronic documents and tax reports in the My Signature app. It can now be used to send any document to the director of a legal entity or an individual entrepreneur.

In addition, the My Signature app, if you have a verified account in the Unified Biometric System, still allows you to obtain an encrypted and certified digital signature certificate for a legal entity or individual entrepreneur from the Certification Centre of the Federal Tax Service. The application stores a secret key that can be used to sign documents and does not require experience in independently setting up specialised programs on a computer.

06.10.2025

BIRTH CERTIFICATES ARE NO LONGER REQUIRED FOR BORDER CROSSINGS: CHILDREN WILL NEED A PASSPORT

From January 20, 2026, birth certificates will no longer be required for Russian citizens under 14 years of age to travel to Abkhazia, Belarus, Kazakhstan, Kyrgyzstan, or South Ossetia.

After January 20, 2026, entry into Russia using this document will only be possible for those children who travelled abroad using a birth certificate before this date.

Also, from January 20, the possibility of obtaining a certificate of entry (return) to Russia in exchange for a birth certificate at Russian consular offices in the territories of the specified countries will be cancelled if the birth certificate has been lost, has become unusable, or if the child has reached the age of 14 during its stay abroad.

The Ministry of Foreign Affairs recommends that children obtain international passports in a timely manner.

03.10.2025

ROSFINMONITORING DRAWS THE ATTENTION OF PAYMENT ACCEPTANCE OPERATORS TO CHANGES IN THE REGULATION AND SUPERVISION OF THEIR ACTIVITIES

Starting from October 1, 2025, regulation and supervision of the activities of payment acceptance operators, including compliance with anti-money laundering and counter-terrorist financing (AML/CFT) requirements, to be carried out by the Bank of Russia.

On October 1, 2025, Rosfinmonitoring will proactively remove all payment acceptance operators from its register.

If operators have a personal account on the Rosfinmonitoring website, re-registration will not be necessary; the functionality will be updated automatically (including replacement of forms of formalised electronic messages).

There is no need to submit applications to Rosfinmonitoring for deregistration or to request changes in the personal account.

02.10.2025

OUTBOUND TOURISM: CREDIT RATING LEVELS OF BANKS FOR THE PLACEMENT OF RESERVE FUND ASSETS HAVE BEEN DETERMINED

Amendments have been made to the Tourism Law, according to which credit institutions in which the funds of the reserve fund of the association of tour operators in the field of outbound tourism may be placed must comply only with the requirements for the level of credit rating under the national rating scale. The Government has determined this level. The previous criteria for selecting credit institutions for these purposes are no longer valid

01.10.2025

TOUR OPERATOR LIABILITY FUNDS MAY ONLY BE PLACED IN BANKS MEETING RATING REQUIREMENTS

New requirements are being established for credit institutions regarding the placement of funds from the personal liability fund of tour operators in the field of outbound tourism.

A bank must simultaneously have at least two credit ratings not lower than a specified level under the national rating scale.

30.09.2025

GOVERNMENT HAS DEFINED CASES IN WHICH A DIGITAL PASSPORT MAY BE PRESENTED VIA THE GOSUSLUGI MOBILE APP INSTEAD OF THE PAPER PASSPORT

In certain situations, citizens will be able to confirm their identity (that is to present their Russian passport) using the Gosuslugi mobile app.

For example, to confirm age in stores when purchasing alcohol, tobacco products, or energy drinks; when visiting museums and entertainment events; when purchasing SIM cards; when checking in into hotels; and during in-person appointments at multifunctional centers (MFCs). Also some more cases are provided.

Presenting a digital passport is legally equivalent to presenting a paper passport.

29.09.2025

QR CODES FROM GOSUSLUGI TO BE USED ON PAR WITH A PASSPORT

Via the ‘GosDoki’ service on Gosuslugi, a new feature will soon allow users to generate a QR code, which in certain cases may be presented instead of a passport if necessary. The scope of QR code use will expand as organisations connect to the GosDoki service - the QR code can only be presented subject to such connection.

At the first stage, the QR code can be used in cinemas and museums, for entry into office centers with access control systems, as well as when purchasing age-restricted goods (18+), and when sending or receiving parcels. Later, it will become possible to use it in MFCs, hotels, private medical organisations, and mobile operator outlets. When the QR code is checked, only the necessary data will be displayed.

‘GosDoki’ and Digital ID in Max are analogues of paper documents. However, the situations in which they may be used are determined by different regulatory documents and therefore may differ.

26.09.2025

THE KEY RATE HAS BEEN REDUCED TO 17% PER ANNUM

On September 12, 2025, the Bank of Russia decided to cut the key rate by 100 bps to 17% per annum.

The Central Bank of the Russian Federation will maintain the tightness of monetary conditions that is necessary to return inflation to the target in 2026. According to the Bank of Russia's forecast, annual inflation will fall to 6-7% in 2025 and return to 4% in 2026.

25.09.2025

THE MINISTRY OF FINANCE CLARIFIED THE INNOVATIONS IN INCOME ACCOUNTING IN CONNECTION WITH THE INTRODUCTION OF THE FEDERAL ACCOUNTING STANDARDS (FAS)

The Ministry of Finance announces the development of FAS 9/2025 "Revenue" to replace PBU 9/99 "Revenue" and PBU 2/2008 "Accounting for Construction Contracts". The scope of the standard has been clarified. A number of innovations were noted in terms of income accounting, receipts to accounts, revenue, accounting for several related contracts, disclosure of information in financial statements, and accounting methods.

Organisations are required to apply FAS 9/2025 starting with financial statements for 2027. This is also possible ahead of schedule.

24.09.2025

EURASIAN ECONOMIC COMMISSION (EEC) COUNCIL UPDATED THE EAEU GOOD CLINICAL PRACTICE (GCP) RULES

The GCP rules have been revised. The document was prepared based on the ICH GCP (Good Clinical Practice Guidelines), that is document E6 (R2) of the International Council for Harmonization of Technical Requirements for Pharmaceuticals for Human Use.

These rules must be followed in all drug trials, the data from which are submitted to authorised bodies (expert organisations) of member states. The principles they establish also apply to other clinical trials that may impact the safety and well-being of human subjects.

23.09.2025

RULES FOR THE CIRCULATION OF INVESTMENT PRECIOUS METALS HAVE BEEN CLARIFIED

The Russian Government has adjusted the requirements for investment precious metals and the regulations for their circulation.

In particular, it has been established that accompanying documents on the quality of the ingot (certificate or passport) can be issued in paper or electronic form in the State Information System of Precious Metals (GIIS DMDK).

Refineries are now able to purchase investment precious metals under agency agreements, commission agreements, and contracts with organisations licensed to purchase precious metal and/or stone products and scrap from the public.

22.09.2025

ON THE MARKING OF AUTOMOTIVE OILS, ANTIFREEZES, AND BRAKE FLUIDS

The Eurasian Economic Commission has established a list of lubricating oils, lubricants and special automotive fluids subject to marking by means of identification.

The EAEU countries determine the date of introduction and the procedure for marking these goods on their territory independently. However, the ban on the circulation of unmarked goods cannot be introduced before September 1, 2025.

19.09.2025

FORMATS ‘TORG-12’ AND ‘CERTIFICATE OF COMPLETION OF WORK’ - FEDERAL TAX SERVICE HAS ONCE AGAIN COMMENTED UPON THE CANCELLATION

From January 1, 2026, taxpayers will not be able to exchange electronic documents compiled in the formats (consignment note and certificate of completion of work) through EDI operators, due to the entry into force of Order of the Federal Tax Service No. ED-7-26/28@ of January 20, 2025.

The changes will only affect those taxpayers that currently accept and send TORG-12 and certificates of completion of work under the formats provided for in Orders of the Federal Tax Service No. MMV-7-10/551 and No. MMV-7-10/552 of November 30, 2015.

Acts and consignment notes can be formed in electronic form using the universal transfer document (UTD) format 5.03 (approved by Order of the Federal Tax Service No. ED-7-26/970@ of December 19, 2023), which is multifunctional and combines a primary accounting document and an invoice. It also is allowed to use UDT both for the simultaneous generation of a consignment note and an act together with an invoice, and separately.

However, even after January 1, 2026, it will be possible to create primary accounting documents in the form of unformalised electronic documents, as well as on paper. The cancellation of the Orders does not cover paper forms of the consignment note and the act of services rendered. For example, if you currently exchange paper acts and electronic invoices, you’ll be able to go on working in the same way in 2026.

18.09.2025

TAX LEGISLATION PROVIDES INCENTIVES FOR THE DEVELOPMENT OF INNOVATIVE AND SCIENTIFIC AND TECHNICAL ACTIVITIES

The Ministry of Finance has considered a proposal to exclude expenses from the taxable base for profits related to innovative activities, research and development (R&D), especially with the participation of young engineers from secondary specialised schools and universities.

It has been explained what incentives for the development of innovative and scientific and technical (scientific and technological) activities, allowing savings on income tax, are already provided for by law.

In addition, from 2025, a reduced rate of income tax in terms of transfers to regional budgets may be established for Russian organisations included in the register of small technology companies.

17.09.2025

RESTRICTIONS ON WITHDRAWAL OF FOREIGN CURRENCY IN CASH HAVE BEEN EXTENDED UNTIL MARCH 9, 2026

For citizens who had a foreign currency account or deposit opened before March 9, 2022, the limit on currency withdrawal remains in the amount of the balance of funds as of 00:00 Moscow time on that date, but not more than 10 thousand US dollars or the equivalent amount in euros, regardless of the currency of the deposit or account.

The remaining funds can be received in roubles.

The ban on charging citizens a commission for issuing foreign currency from accounts or deposits has been retained for banks for six months.

Currency transfers without opening an account and via electronic wallets may be issued only in roubles.

Non-resident legal entities will not be issued cash in US dollars, euros, pounds sterling or Japanese yen until March 9, 2026. There are no restrictions for other currencies.

Resident legal entities can withdraw US dollars, euros, pounds sterling or Japanese yen from their accounts for six months only for travel expenses. There are no restrictions on other currencies.

16.09.2025

LAWYERS, NOTARIES, AND PERSONS PROVIDING LEGAL SERVICES SHOULD UPDATE, AT THE LATEST ON SEPTEMBER 16, 2025, THEIR INTERNAL CONTROL RULES DEVELOPED FOR AML/CFT PURPOSES

On August 16, 2025, new requirements came into force for internal control rules developed in pursuance of anti-money laundering legislation by the following persons:

- lawyers,

- trustees (managers) of a foreign structure without forming a legal entity,

- executive bodies of a personal fund (except for an inheritance fund), including an international personal fund (except for an international inheritance fund),

- persons engaged in entrepreneurial activities in the field of providing legal or accounting services,

- persons mining digital currency (including participants in a mining pool),

- persons organising the activities of a mining pool,

- notaries, audit organisations and individual auditors.