A special recording procedure for certain securities will be in effect until the end of 2025
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The ban on the following transactions without permission from the Central Bank has been extended until the end of 2025:
The Bank of Russia has adjusted the instructions on the procedure for residents and non-residents to submit supporting documents and information to authorised banks when carrying out foreign exchange transactions.
Requirements for a 5-year inspection period and for organising repeat inspections do not apply to the assessment of the application of bank risk management methods and quantitative risk assessment models.
Russian Standard Vodka LLC, Rust Russia JSC, TPS AVIA HOLDING LTD and Ural Locomotives LLC have been additionally classified as economically significant organisations.
The President of the Russian Federation has ordered to extend the possibility of applying the zero VAT rate for services related to the provision of temporary accommodation in hotels and other accommodation facilities until December 31, 2030 inclusive. For now, this rate is valid until June 30, 2027.
Amendments have been made to the legislation, according to which foreign and international companies, the founders or participants of which are governmental agencies of foreign states, may be recognised as undesirable for Russia.
A limit has been set on energy consumption when mining digital currency (including when participating in a mining pool) by Russian citizens that are not individual businessmen and are not included into the register. It is set as 6,000 kilowatt-hours per month. Concomitant changes have been made to the pricing principles in the area of regulating prices (tariffs) in the electric power industry.
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.
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