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
31.10.2023
EAEU DECIDED TO INTRODUCE LABELLING OF SMARTPHONES AND LAPTOPS
The issues of marking telephone sets and portable computing machines weighing no more than 10 kg, consisting of at least a central data processing unit, keyboard and display, have been resolved. A list of such goods has been determined. In particular, it includes smartphones, laptops. The characteristics of the means of identifying goods, the minimum composition of information about the labelled product, etc., are indicated.
30.10.2023
BANK OF RUSSIA AND MINISTRY OF INTERNAL AFFAIRS LAUNCH ONLINE EXCHANGE OF INFORMATION ON FRAUDULENT TRANSACTIONS
On October 21, 2023, amendments to the Law on Banks and Banking Activities and the Law on the National Payment System, adopted last autumn, came into force. The amendments provide for the transfer of information included in the database by the Bank of Russia to the Ministry of Internal Affairs on cases and attempts to transfer funds without the client’s consent, based on information received from the Ministry of Internal Affairs about illegal actions committed.
27.10.2023
WHAT WILL CHANGE IN THE DECLARATION OF CORPORATE PROPERTY TAX FROM 2024?
It is explained what changes need to be taken into account when submitting a property tax return for organisations in 2024.
To eliminate surplus reporting and errors in its preparation, which affect the distribution of tax paid in the budget system, changes have been made to this procedure since 2024.
Firstly, the deadline for submitting a declaration has been moved from March 25 to February 25 of the year following the current one. Thus, the obligation to pay tax no later than February 28 will follow the submission of the declaration. In this regard, it will no longer be necessary to additionally submit a notification about the calculated amount of tax indicated in the declaration.
Secondly, the deadline for possible sending a notification on the method of submitting a tax return to the tax authority of a constituent entity of the Russian Federation has been postponed from March 1 to February 1.
26.10.2023
PROJECTS ON THE POSSIBILITY OF USING EMAIL GENERATED ON THE GOVERNMENT SERVICES PORTAL AS A LEGAL ENTITY’S ADDRESS HAVE BEEN SUBMITTED TO THE STATE DUMA
The authors of this initiative propose to provide for the possibility of using the email address generated in the FSIS "Unified Portal of State and Municipal Services" as a legal entity's address.
25.10.2023
SPECIAL RULES TO ESTABLISH FOR SUPERVISION OVER ALCOHOL AND TOBACCO RETAIL SALES
Until the end of 2025, rules for supervisory activities to apply in the following areas:
- retail sales of tobacco, hookahs, nicotine-containing products and devices for its consumption;
- retail sales of alcohol, including in eateries (public catering).
24.10.2023
RECYCLING FEE: WHAT HAS CHANGED?
In accordance with the decision of Government it has been established that the coefficients for calculating the amount of the recycling fee adopted for electric vehicles also apply to passenger cars equipped with a sequential-type hybrid power plant.
23.10.2023
‘CHESTNY ZNAK’ APP TO BE INCLUDED INTO THE LIST OF PROGRAMS FOR MANDATORY PRE-INSTALLATION ON SMARTPHONES AND TABLETS
The list of Russian software subject to pre-installation on smartphones and tablets in 2023 and 2024 is supplemented with an app for checking product labelling codes “Chestny ZNAK”.
It may be used when purchasing a number of goods, to check their authenticity, including specific details, like where, when and who produced the goods, and also information on the goods weight and/or volume.
Currently the list of goods subject to labelling includes medicines, dietary supplements, dairy products, potable water, beer, tobacco, shoes, fur coats, consumer industry goods, cameras and flash lamps, perfumes and eau de toilette, antiseptics, tires, medical products and wheelchairs. The list is subject to further expanding.
20.10.2023
MINIMUM AMOUNT OF VOLUNTARY CONTRIBUTION OF FOREIGN COMPANIES LEAVING RUSSIA HAS FOREIGN INVESTMENT IN FISHERIES - SUBJECT TO SPECIAL CONTROL
In order to strengthen control over foreign investment in fisheries, the Government has adjusted the following:
- rules for forced termination of the right to extract aquatic biological resources;
- procedure for drawing up, issuance, registration, clarification, suspension and cancellation of permits for the extraction of aquatic biological resources.
In particular, a ban has been introduced on issuing fishing permits to Russian companies in which more than 35% of the rights to extract water resources belong to the foreign investors who control them.
19.10.2023
MINIMUM AMOUNT OF VOLUNTARY CONTRIBUTION OF FOREIGN COMPANIES LEAVING RUSSIA HAS BEEN INCREASED
The conditions for taking decisions on issuing permits for the alienation of assets of Russian companies by foreign persons from unfriendly countries have been revised.
Now transactions (operations) aimed at the alienation of securities by specified persons must be carried out, inter alia, subject to a voluntary contribution to the federal budget in the amount of at least 15% of the market value of the relevant assets. Such a fee must be paid within a month from the date of implementation (execution) of the transaction (operation). The market value of assets shall be determined according to an independent appraisal report conducted by a private appraiser who is one of the recommended appraisal organisations.
18.10.2023
EAEU HAS ESTABLISHED A LIST OF ELECTRONIC SERVICES FOR VAT PURPOSES
The EEC Council approved a list of services in electronic form for VAT purposes. It consists of 14 services that cannot be provided without the use of information technology. When purchasing an electronic service cross-border on the territory of the EAEU, VAT will be assessed at the location of the buyer.
17.10.2023
NEW SECURITY COUNCIL COMMISSION CREATED TO COMBAT THREATS TO BIOLOGICAL SECURITY
An interdepartmental Commission under the Security Council to be formed in order to counter modern threats to biological security. At the same time, the Security Council commission on the creation of a national system of protection against new infections to be abolished.
The new Commission to assess, among other things, threats to biosafety and the level of protection of the population against the effects of hazardous biological factors. Monitoring compliance with biosafety requirements when implementation of programs and projects and organisation of scientific research and development in the sphere of biotechnology are also numbered as aims of the Commission.
16.10.2023
WHEN FILING ELECTRONIC DOCUMENT VIA PUBLIC SERVICES APP IS POSSIBLE, INSTEAD OF A PAPER ONE?
Currently, among documents to be presented using the Public Services app a draft bill envisages only the passport of a citizen of the Russian Federation.
At the first stage, it will be possible to confirm citizen’s identity using Public Services in the following circumstances:
- in a store;
- when buying alcohol or cigarettes;
- in a cinema or museum - when entering an event with an age restriction;
- when boarding a train or intercity bus;
- when being provided public services;
- in financial market organisations;
- when contacting mobile operators.
13.10.2023
FEDERAL TREASURY IS ALLOWED TO MAKE TRANSACTIONS WITH CHINESE YUAN
Foreign currency transactions to be made by the Federal Treasury with sums expressed in Chinese yuan (previously only in US dollars or euros).
12.10.2023
THE CENTRAL BANK OF THE RUSSIAN FEDERATION REMINDED BANKS OF THE NEED TO INFORM BORROWERS ABOUT THE POSSIBILITY OF INSURING THEMSELVES WITH ANY COMPANY
The Bank of Russia and the Federal Antimonopoly Service draw the attention of credit institutions to the need to bring internal documents regulating the procedure for insuring the risks of borrowers of a credit institution, including potential borrowers who are legal entities or individuals, in accordance with Decision of the Government of the Russian Federation No. 39 of January 18, 2023 on the Cases When Agreements Between Credit Institutions and Insurance Agencies Are Admissible, As Well As Foreign Insurance Organisations ..., entered into force on September 1, 2023, and also to place the necessary information on the websites.
It is noted that when applying for a loan, an individual has the right to purchase insurance from any company that meets the bank’s requirements. The lender is obliged to inform the client about this possibility and cannot impose the services of a specific organisation.
11.10.2023
WHAT’S NEW IN THE CIVIL CODE: PROVISIONS ON THE COMMON PROPERTY FOR OWNERS OF IMMOVABLE THINGS
On October 1, 2023, amendments to Part One of the Civil Code of the Russian Federation came into force. The Code’s Chapter 16 "Common Property" has been supplemented with a new Paragraph dedicated to the common property of the owners of immovable things. The provisions of this Paragraph to define the legal regime of property intended to meet the general needs of owners of real estate that are located within a common territory in accordance with the established procedure and are physically or technologically connected or located in a building or structure.
10.10.2023
RULES FOR CALCULATING THE RECYCLING FEE FOR HYBRIDS HAVE BEEN ESTABLISHED
For vehicles equipped with sequential hybrid propulsion system, increasing coefficients for calculating the tax have been introduced, as for electric vehicles. In this case, the coefficients apply to hybrids imported into Russia from January 1, 2022.
09.10.2023
PUBLICATION OF OPEN DATA SETS OF SANCTIONED COMPANIES TO BE SUSPENDED
Federal Tax Service's rules for publishing open data of taxpaying organisations to be adjusted.
Some data sets are not available for publishing until, at the earliest, 2030. This refers to business partnerships and companies in respect of which access to the data is limited in accordance with Governmental decisions.
06.10.2023
FOREIGN BANKS AND BROKERS WILL BE ALLOWED TO TRADE ON THE RUSSIAN FOREIGN EXCHANGE MARKET
The Government has approved a list of countries from which banks and brokers will be allowed to trade on the Russian foreign exchange market and derivatives market.
The list includes more than 30 friendly and neutral states. These include Algeria, Armenia, Belarus, Brazil, Venezuela, Vietnam, Egypt, India, Iran, Kazakhstan, China (except for Taiwan), Cuba, Malaysia, UAE, Serbia, Turkey, etc.
05.10.2023
FOREIGN ECONOMIC ACTIVITY: IF A FOREIGN COUNTERPARTY REFUSES TO EXECUTE A CONTRACT, THE CONTRACT NOT BE RETIRED
The Bank of Russia explained that the unilateral termination by a non-resident of obligations under a foreign trade contract not to be considered grounds to de-register such contract with an authorised bank.
04.10.2023
EXPORTS OF GASOLINE AND DIESEL FUEL: TEMPORARY BAN TO BE INTRODUCED
A temporary ban has been imposed on exportation of commercial gasoline and diesel fuel from Russia, including those purchased on the stock exchange.
The ban not to be applied to export to Abkhazia, South Ossetia, as well as for personal use.
03.10.2023
THE DUTY-FREE IMPORT LIMIT OF GOODS INTO THE EAEU FOR INDIVIDUALS IN THE AMOUNT OF 1,000 EUROS WILL REMAIN UNTIL APRIL 1, 2024
The Council of the Eurasian Economic Commission extended until April 1, 2024 the increased threshold for duty-free import of goods for personal use into the EAEU.
Thus, goods worth up to one thousand euros and weighing up to 31 kg, delivered by carriers or sent by international mail, as well as imported as luggage by all modes of transport except for air, or on foot, will continue to be duty-free.
02.10.2023
SOCIO-ECONOMIC DEVELOPMENT OF THE FAR EAST - THE PROGRAM TO BE REVISED
Some changes are made into the national program of socio-economic development of the Far East for the period up to 2024 and for the future up to 2035.
In particular, the measures for development of the healthcare system and culture, as well as for creation of favourable conditions for the birth rate and child-rearing to be adjusted.
Contact Us
Leave us a message