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Director’s liability insurance

PUBLICATIONS \ 28.04.2022

Directors & officers liability insurance is a service that is gaining popularity in the Russian market. Andrey Chernyak, Acsour’s Legal Assistant, told what this type of insurance is and what risks the conclusion of such a contract can create for the company. Today, insurance companies offer businesses a variety of options for protecting the liability […]

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Simplified Taxation System: installment of payment and service for the right to receive a tax deferral

LEGAL DIGEST, NEWS \ 22.04.2022

The Government of the Russian Federation has issued a Resolution extending the tax payment period by 6 months for companies applying the simplified taxation system. According to the text of the document, organizations applying the simplified taxation system (STS) and carrying out activities in accordance with the Appendix No. 512 to the Decree of the […]

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Liquidation under a simplified procedure

PUBLICATIONS \ 21.04.2022

In the middle of winter, it became known about the collaborative work of the Ministry of Economic Development and Trade and the Federal Tax Service on simplifying the procedure for the liquidation of legal entities. Timur Kerimov, Acsour’s lawyer, at the request of the “Raschet” magazine compared the current procedure for closing a business with […]

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The right to transfer currency by Russian companies to foreign accounts

LEGAL DIGEST, NEWS \ 19.04.2022

A subcommittee of the Government Committee for the Control of Foreign Investments has adopted a decision according to which national companies can make transfers in foreign currency to their accounts in foreign banks. In addition to the adopted decision, the Ministry of Finance of the Russian Federation noted that the following decisions should be taken […]

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Restriction on payment of currency contracts

LEGAL DIGEST, NEWS \ 15.04.2022

Russian organizations, when fulfilling obligations under contracts to foreign legal entities, can make an advance payment on it in the amount of not more than 30% of the entire amount of the contract.   The said decision of the Central Bank of the Russian Federation entered into force on March 27, 2022 and is applied to […]

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Russian companies – tax agents of VAT from electronic services

LEGAL DIGEST, NEWS \ 12.04.2022

Russian companies that purchase services in electronic form from foreign organizations are recommended to independently calculate, withhold and pay VAT on the amount of such services. The Federal Tax Service of the Russian Federation (FTS) in its explanation No. SD-4-3/3807 dated March 30, 2022 notes that if, when a foreign organization provides services in electronic […]

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Fewer fines for business: amendments to the Administrative Violations Code of the Russian Federation have been signed

LEGAL DIGEST, NEWS \ 07.04.2022

The President of the Russian Federation has signed a law amending the Administrative Violations Code. These changes are aimed at mitigating the administrative liability of legal entities. According to the text of the Law, starting from April 6, 2022, an amended procedure for bringing organizations to administrative liability for the following offenses is in effect. […]

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Termination of the exchange of tax information between Russia and a number of foreign countries

LEGAL DIGEST, NEWS \ 05.04.2022

Representatives of the Ministry of Finance of the United Kingdom, Germany and the USA announced the suspension of the exchange of tax information with the Russian Federation. The official website of the UK Government notes that the restriction is been in effect starting from April 17, 2022 and is applied to the exchange of tax […]

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