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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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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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Meta is recognized as an extremist organization. The court’s decision

LEGAL DIGEST, NEWS \ 29.03.2022

On March 21, 2022, the Tverskoy District Court of Moscow issued a decision to recognize Meta Platform Inc. as an extremist organization (hereinafter referred to as the Decision), which may result in a prohibition of the use of Instagram and Facebook logos. The text of the Decision was published on the court’s website on March […]

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Restrictions of the Central Bank of the Russian Federation on foreign currency transactions

LEGAL DIGEST, NEWS \ 24.03.2022

The President of the Russian Federation signed a Decree establishing restrictions on the conduct of a number of foreign currency transactions by organizations, including with foreign currency in cash. For more information about the implementation of these operations, see the text of the article below. Restriction of transactions with contractors Starting from March 1, 2022, […]

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