A special recording procedure for certain securities will be in effect until the end of 2025

Learn more

Garant – Free Online Demo

Legal information system for your company.
Simply click on the button «Start working» and the system Legislation of Russia in English will be available for unlimited time.

News

18.04.2025
BAN ON USING FOREIGN SOFTWARE IN CRITICAL INFRASTRUCTURE IS NO LONGER UNCONDITIONAL

From January 1, 2025, government authorities and customers are prohibited from using foreign software on significant critical information infrastructure facilities owned by them, unless otherwise provided by federal law.

17.04.2025
NIZHPHARM JOINT STOCK COMPANY HAS BEEN TRANSFERRED UNDER TEMPORARY MANAGEMENT

Shares of the joint stock company "Nizhny Novgorod Chemical and Pharmaceutical Plant" owned by Nidda Lynx S.a.r.l., have been transferred under the temporary management of limited liability company "Farmirus".

16.04.2025
INDIVIDUALS MUST FILE NOTIFICATIONS OF CONTROLLED FOREIGN CORPORATIONS FOR 2024 BY APRIL 30, 2025

The notification of a controlled foreign corporation must be submitted regardless of the financial performance of such foreign company.

If there are grounds for exemption from taxation of profits of such a company, documents confirming compliance with the relevant conditions must also be submitted by April 30, 2025. An exception is a controlled foreign corporation formed in accordance with the legislation of a member state of the EAEU and having a permanent location in it.
If there are no grounds for exemption from taxation of the profits of a controlled foreign corporation, it is necessary to submit documents confirming the amount of its profit or loss. This must also be done before April 30 (along with the notification of a controlled foreign corporation), regardless of the existence of an obligation to pay income tax on the controlled foreign corporation.
A taxpayer is subject to a fine of 500 thousand roubles for failure to submit a notification of a controlled foreign corporation.
15.04.2025
EMPLOYERS CANNOT FORCE EMPLOYEES TO SWITCH TO A PAYROLL PROGRAM IN ANOTHER BANK

Each employee has the right to receive a salary to his bank account - the provisions of the Labour Code of the Russian Federation guarantee the right to unhindered receipt of wages in a way convenient for the employee. Both the right to choose the appropriate credit institution and the right to change it belong to the employee, not the employer. 

If the employee does not want to receive a salary in another credit institution, he has the right to refuse the employer, and the latter must transfer the salary to the bank chosen by the employee. 
The employer's obstruction of the employee's right to change the credit institution, as well as failure to transfer the employee's salary to the bank chosen by the employee is considered an administrative offence provided for in Part 6 of Article 5.27 of the Code of Administrative Offences of the Russian Federation, and entails a warning or a fine.
14.04.2025
THE TRAFFIC REGULATIONS ARE SUPPLEMENTED WITH THE OBLIGATION FOR OWNERS OF VEHICLES REGISTERED OUTSIDE THE RUSSIAN FEDERATION TO PRESENT INTERNATIONAL MOTOR INSURANCE AT THE REQUEST OF POLICE OFFICERS

Clause 2.2. of the traffic regulations has been supplemented with a provision stipulating that if the civil liability of the owner of a vehicle registered on the territory of a foreign state and temporarily used on the territory of the Russian Federation is insured under international insurance systems, the driver of the vehicle must, at the request of a police officer, present for inspection a document confirming the fact of concluding a contract of insurance of civil liability of vehicle owners under international insurance systems.

11.04.2025
FROM APRIL 1, 2025, ONLY ONE FORMAT OF ELECTRONIC INVOICE WILL BE IN EFFECT

The Federal Tax Service reminds that April 1 marks the end of the transition period during which taxpayers had a choice of formats for generating electronic invoices. The Order of the Federal Tax Service dated December 19, 2023 approved two Annexes, one of which is valid until the end of March 2025. Thus, from April 1, 2025, only the format provided for on Annex No. 1 to the Order to be applied to generate an electronic invoice and universal transfer document. 

Invoices generated after April 1, 2025 using the old format will violate the requirement of the Tax Code of the Russian Federation, which means that the taxpayer will have difficulties accounting for VAT. 
However, the Federal Tax Service notes: if counterparties began document flow before April 1, 2025, then it should be completed in the same format in which it was started, even if the old format was used. 
The key value is the date of issuing the invoice, recorded by the e-document flow operator in the confirmation of the dispatch date.
10.04.2025
TEMPORARY MANAGEMENT OF THE RUSSIAN SUBSIDIARY OF ARISTON HAS BEEN LIFTED

Temporary management of Gazprom Household Systems JSC has been lifted from the share in the authorised capital of Ariston Termo Rus LLC, which belongs to Ariston Holding N.V.

09.04.2025
PROTECTING CITIZENS FROM TELEPHONE AND INTERNET FRAUD: A NEW LAW IS ENDORSED

As part of the counteracting against telephone fraud, the following is provided: 

- self-prohibition on concluding contracts for the provision of communication services without personal presence; 
- ban on the transfer of SIM cards to third parties (except close relatives); 
- self-prohibition on international calls, spam calls and mailings; 
- mandatory marking of all outgoing telephone calls from organizations. 
A special state information system (GIS) to be created, which will store information on persons that have committed illegal acts through public communication networks, including subscriber numbers used for these purposes. 
Access to it will be granted to the Prosecutor General's Office, the Investigative Committee, the Central Bank, credit institutions, communication operators, as well as federal executive authorities and organisations, the list of which will be established by the Government. 
Employees of government agencies, banks, communication operators, digital ecosystems are prohibited from communicating with citizens and clients through foreign messengers. 
In the financial market, in particular, the requirements for identifying borrowers when issuing microloans in electronic form are being tightened. 
Any person will be able to appoint a trusted person to whom the credit institution will contact to confirm the operation of issuing cash or issuing a loan. 
Credit institutions, owners of aggregators and operators must provide information requested by police investigators and FSB agencies through SMEV.
08.04.2025
OPERATORS MUST PROVIDE INFORMATION TO ROSKOMNADZOR TO IDENTIFY COMMUNICATION FACILITIES AND USER EQUIPMENT ON THE INTERNET

The procedure, terms, composition and format for providing information by a communication operator to Roskomnadzor to identify communication facilities and user equipment (terminal equipment) on the Internet on the territory of a country, region or part thereof have been established. 

Information shall be sent through a personal account on the Roskomnadzor website by filling in electronic forms or posting in XML format and using a secure communication channel. 
Information may be provided at the request of Roskomnadzor. In this case, it must be sent within an hour. 
Operators that received a licence before the Order came into force must send the information within 6 months. 
Operators that obtained a licence after the Order came into force must send the information no later than 15 business days after the start of providing Internet access services.
07.04.2025
REQUIREMENTS FOR TECHNICAL MEANS OF CONTROL OVER COMPLIANCE WITH REQUIREMENTS ON RESTRICTING ACCESS TO INFORMATION HAVE BEEN UPDATED

Communication operators, owners of technological communication networks that have a unique identifier for a set of communication means and other technical means on the Internet must be equipped with technical means of control over compliance with requirements on restricting access to information. 

In connection with amendments into the Law on Communications, Roskomnadzor has updated the requirements for the specified technical means of control, the procedure for their provision, installation and operation. 
Amendments to the law have expanded the functionality of technical means (control over the passage of traffic through technical means of countering threats).
04.04.2025
THE CENTRAL BANK OF THE RUSSIAN FEDERATION AGAIN KEPT THE KEY RATE AT 21%

On March 21, 2025, the Bank of Russia decided to keep the key rate at 21% per annum.

According to the forecast of the Central Bank of the Russian Federation, taking into account the current monetary policy, annual inflation will decrease to 7-8% in 2025 and return to 4% in 2026. 
The next meeting of the Board of Directors of the Bank of Russia on the key rate is scheduled for April 25, 2025.
03.04.2025
A FORMAT FOR TRANSFERRING INFORMATION TO THE TAX AUTHORITIES IS RECOMMENDED FOR THE OPERATOR OF THE MINING INFRASTRUCTURE

The operator of the mining infrastructure is obliged to report quarterly to the tax authority information related to the implementation of digital currency mining by the person to whom this operator provides services for the provision of mining infrastructure.

02.04.2025
THE FEDERAL FINANCIAL MONITORING SERVICE UPDATES THE PROCEDURE FOR INFORMATION INTERACTION WITH THE CENTRAL BANK OF THE RUSSIAN FEDERATION

Amendments were made to the Law on Countermeasures to Combat Legalization (Laundering) of Illegally Obtained Proceeds and Financing of Terrorism, according to which the requirements of anti-money laundering legislation apply to branches of foreign banks through which foreign banks operate in Russia. 

Corresponding amendments are proposed to be made to the regulations on the procedure for sending information by the Federal Financial Monitoring Service to the Central Bank of the Russian Federation that provided by organisations conducting transactions with money or other property.
01.04.2025
RESTRICTIONS ON TRANSFERS OF FUNDS ABROAD BY NON-RESIDENTS FROM UNFRIENDLY COUNTRIES FROM BROKERS OR TRUST MANAGERS' ACCOUNTS HAVE BEEN EXTENDED

Restrictions on transfers of funds abroad by non-residents from unfriendly countries from brokers or trust managers' accounts have been extended for another six months. 

The restrictions apply to transfers from accounts opened by individuals or legal entities with Russian brokers or trust managers.
31.03.2025
ALFA-BANK AND MSP BANK WILL HELP EAEU COUNTRIES IMPLEMENT INDUSTRIAL PROJECTS

Alfa-Bank and MSP Bank have become participants in the financial assistance mechanism for the implementation of joint cooperation projects by EAEU countries in industrial sectors.

28.03.2025
THE BANK OF RUSSIA HAS UPDATED ITS INFORMATION SECURITY REQUIREMENTS TO PREVENT FRAUDULENT ACTIVITIES

Banks must ensure the protection of information not only during money transfers, but also during other transactions within the framework of their activities. It was decided to update the requirements. They also apply to foreign banks that operate in Russia through their branches. 

The rules on the use of electronic signatures and cryptographic information protection tools have been clarified. Mechanisms have been introduced to combat the execution of transactions using credit (borrowed) funds under the influence of fraud or abuse of trust. Norms aimed at preventing the involvement of minors in criminal activity using financial mechanisms are also prescribed.
27.03.2025
ON BANKS' CONTROL OVER RESIDENTS' FOREIGN EXCHANGE TRANSACTIONS

Authorised banks as currency control agents are obliged to exercise control over currency transactions carried out by clients for the legality of their execution and to refuse to carry out illegal currency transactions. 

If a transaction (operation) falling under the effect of the decrees of the President establishing a special procedure for its execution (implementation) is executed (implemented) by a resident through a credit institution of which he/she is a client, then such a credit institution must exercise control over the availability of the appropriate permit from this resident.
26.03.2025
BY MARCH 20, 2025, COMPANIES MUST PROVIDE NOTIFICATIONS OF CFCS (CONTROLLED FOREIGN COMPANIES) FOR 2024

March 20, 2025 is the deadline for companies to submit notifications of controlled foreign companies for 2024. A notification of a CFC must be sent regardless of the financial result of such foreign company. 

If there are grounds for exemption from taxation of CFC profits, then documents confirming compliance with the conditions for such exemption should also be provided by March 20, 2025. The exception is made for companies established in accordance with the legislation of a member state of the EAEU with a permanent location in the cited country. 
In the absence of such grounds, it is necessary to submit documents confirming the amount of profit or loss of the CFC.
25.03.2025
THE EURASIAN FUND FOR STABILIZATION AND DEVELOPMENT WILL BECOME AN INDEPENDENT INTERNATIONAL FINANCIAL ORGANISATION

On March 18, 2025, the State Duma adopted a law on ratification of the Protocol on Amendments to the Treaty on the Establishment of the Eurasian Fund for Stabilization and Development. 

The Protocol provides for the transformation of the EFSD into a full-fledged independent international financial organisation providing financial support in the national currencies of the Fund's member states. New areas of activity for the EFSD are envisaged: 
- technical assistance to countries; 
- implementation of the international development assistance agenda, including through the creation of trust funds under the EFSD. 
The new administration structure of the Fund does not provide for the Eurasian Development Bank’s acting as a fund manager.
24.03.2025
THE FEDERAL TAX SERVICE REMINDED THAT THE REGISTRATION OF A COMPANY AT A MASS ADDRESS IS NO LONGER A REASON FOR AN INSPECTION
It is reported that the registration of a company at an address that is also the address of five or more organisations is no longer grounds for automatically appointing a verification of the accuracy of information about the address included in the Unified State Register of Legal Entities.
This, as the Federal Tax Service explained, will save businesses from unnecessary checks when including information about the so-called mass address in the Unified State Register of Legal Entities, since such situations do not always indicate the company's dishonesty. For example, an office centre may house dozens of organisations, and formally it meets the criteria of a mass address.
21.03.2025
RESTRICTIONS ON FOREIGN CURRENCY CASH WITHDRAWALS HAVE BEEN EXTENDED

The Bank of Russia communicates the following: restrictions on foreign currency cash withdrawals to remain in force until September 9, 2025. 

For citizens whose foreign currency account or deposit was opened before March 9, 2022, the limit on currency withdrawals to be kept in the amount of the balance of funds as of March 9, 2022 at 00:00 Moscow time, but not more than 10 thousand US dollars or an equivalent amount in euros, regardless of the currency of the deposit or account, provided that they have not previously converted such option. 
The rest of funds can still be withdrawn in roubles. The amount paid cannot be less than the amount calculated as of the date of payment at the official exchange rate of the Bank of Russia with respect to funds credited to the account before September 9, 2022. Funds credited after September 9, 2022, to be issued at a bank's exchange rate effective as of the date of withdrawal.
The ban for banks to collect a fee from citizens for issuing currency from accounts or deposits has been extended for six months. 
Currency transfers without opening an account or through electronic wallets should be issued in roubles. In this case, an amount issued cannot be less than the amount calculated as of the date of payment at the official exchange rate of the Bank of Russia.
20.03.2025
BAN ON CHARGING CITIZENS A COMMISSION WHEN ISSUING FOREIGN CURRENCY FROM ACCOUNTS OR DEPOSITS HAS BEEN EXTENDED FOR ANOTHER SIX MONTHS

The ban on charging citizens a commission when issuing foreign currency from accounts or deposits has been extended for banks for another six months, until September 9, 2025. 

Also until that date, there is a ban on charging a commission for converting foreign currencies into US dollars or euros if the conversion is carried out for the subsequent issuance of funds. 
This concerns the withdrawal of funds in foreign currency that were received into an account or deposit before March 9, 2022

Contact Us

Leave us a message