A special recording procedure for certain securities will be in effect until the end of 2025
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Amendments have been made to the legislation affecting economically significant organisations (ESOs). In particular, the increased 5 percent threshold for share ownership has been extended, allowing their holders to request documents from companies that are under anti-Russian sanctions or have the right not to disclose information on their activities, as well as to challenge their transactions or actions.
The forms and rules for filling in purchase ledgers book used in VAT settlements have been adjusted. The changes are related to the specifics of trading on the EAEU marketplaces introduced from July 1, 2024, as well as to the introduction of VAT at special rates for taxpayers taxable under the simplified system from January 1, 2025.
The Russian Ministry of Finance commented upon the clarification of the requirements in the field of countering the legalisation (laundering) of proceeds from crime and the financing of terrorism for entities providing accounting services.
The special procedure for transactions with shares of limited liability companies under permits from the Government Commission for Control over Foreign Investments does not apply to transactions (operations) that do not entail the establishment, change or termination of the rights of ownership, use and (or) disposal of shares in the authorised capital of limited liability companies or other rights that allow determining the terms for managing limited liability companies and (or) the terms for their implementation of entrepreneurial activities.
New terms of sale of Russian assets by foreign persons from unfriendly countries have been approved.
Entering information into these registers is necessary due to the requirements of the Law on Digital Financial Assets and Digital Currency.
The Ministry of Natural Resources reports that no new regulations have been introduced in the country for the handling of equipment containing hydrofluorocarbon refrigerants (or freons). Only certain gases (18 substances) and mixtures are regulated, for which, in most cases, more environmentally friendly substitutes exist. Equipment containing these substances is not subject to this regulation.
The Ministry of Digital Development reports that the registration of owners of channels and pages in social networks with more than 10 thousand subscribers has been launched on the public services portal. After voluntary identification, channels/pages will be included in a special list by the Federal Service for Supervision of Communications, Information Technology and Mass Media (Roskomnadzor).
On October 25, 2024, the Bank of Russia decided to raise the key rate by 200 basic points up to 21% per annum.
On October 28, 2024, new interest rates were put into operation respect to currency swap transactions for the sale of yuan for roubles with their subsequent purchase (in yuan for roubles to calculate the swap difference). The rates are set at the Bank of Russia's key rate.
From November 1, 2024 to December 31, 2025, it was decided to conduct an experiment to implement the possibility of obtaining qualified certificates of keys for verifying electronic signatures by Russian citizens abroad.
Requirements have been established for the protection of information included in the state information system and information systems of significant objects of critical information infrastructure from threats of the "denial of service" type.
When checking the novelty and inventive step of an invention related to the use of a product or method for a specific purpose, only features characterising the purpose shall be taken into account.
A new list of issuers whose securities issues are registered by the Corporate Relations Department has been established. It also monitors compliance with the legislation on joint-stock companies and securities. The new list includes 635 companies.
From October 22, 2024, for major banks, as well as credit institutions that are significant in the payment services market, this period will be 2 hours, and from January 1, 2025 - 1 hour. For other banks, the period is 3 hours. This will allow to reduce the number of new transfers to fraudsters' accounts.
A list of types of products (goods) has been established, the production and use of which are not permitted due to the fact that waste from their use cannot be processed and (or) utilized, or their processing and (or) utilisation is difficult.
From March 1, 2025, citizens will be able to establish a self-prohibition on the issuance of consumer loans. From this date, the corresponding amendments to the Law on Credit Histories and the Law on Consumer Credit (Loan), adopted in February of this year, will come into force.
The Rules for the formation, maintenance and storage of a citizen's personal file and an employer's registration file on the Unified Digital Platform in the Sphere of Employment and Labour Relations "Work in Russia" have been proposed.
By April 30, 2025, the largest Russian exporters are obliged to:
In particular, the provisions of the Law on the Protection of Competition concerning the recognition of the price of a product as monopolistically high or monopolistically low have been clarified.. In particular, the need for comparison with prices in markets outside the Russian Federation when determining monopolistically high or monopolistically low prices is eliminated.
Securities and shares in the authorised (share) capital of a number of Russian legal entities have been transferred to the temporary management of the Federal Property Management Agency. In particular, the following have come under state control: JSC and LLC "Glavprodukt", LLC "BALTIC CANNERY", LLC "Glavprodukt-patent", LLC "United Industrial Company", LLC "United Cannery Plants".
Actions related to driving a vehicle with state registration plates equipped with devices that prevent identification of state registration plates or allow them to be modified or hidden are currently determined as a separate offence, for the commission of which the penalty will be deprivation of the right to drive vehicles for a period of one year to one and a half years with confiscation of the said devices (the devices are subject to destruction).
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