Law digest
How long will it take for Moscow to become a leading financial centre?
 
Diagramma
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Accounting procedures will change for foreign companies
hand The Tax Authority of Russia published new fiscal accounting rules for foreign companies. From now on all foreign companies opening or restructuring a business in Russia and, according to the Russian law, subject to tax registration should fill out the relevant documents using the new forms (approved by the Order of the Tax Authority of Russia dated February 13th, 2012).
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Ease of doing business: Russia and post-Soviet area
Doing Business As of December 2011 exactly 20 years had passed since the fall of the Soviet Union and the formation of 15 new independent states on the post-Soviet landscape and map. 20 years — is that a lot or little? How have these new states been developing and what have they achieved?
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Ease of Doing Business: Russia amongst BRICS countries
Doing Business According to the annual report ‘Doing Business 2012’ prepared by the World Bank, Russia was ranked 120th out of 183 countries in the Ease of Doing Business rating. Among the other BRICS nations in the rating, Russia is right in the middle, below South Africa and China (with 35th and 91st positions respectively) and above Brazil and India (in 126th and 132th places respectively).
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Russians will pay for off-shore companies
fish Vladimir Putin, Chairman of the Russian government, is advocating for developing some new rules and regulations which will force Russian companies to declare and pay taxes based on the income they bring in from foreign assets. Following up on Putin’s initiative, specialists of the Federal Tax Authority have already drafted a bill which will change the current Tax Code.
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The money is there, but where to put it?
tree Paradoxically, despite demand from investors, Russia is not yet ready to absorb investment in the development of its tourism industry. The problem is an old one, that of bureaucratic red tape. However, the government could help to remedy the problem by removing existing barriers.
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Investment Ministry
tree The authors of “Strategy 2020” proclaim that improving the business climate is the main way to guarantee that investments will flow to Russia. According to the document, the business environment in Russia leaves much to be desired and it is getting more and more difficult to do business. The authors suggest taking a few specific measures which will help change things for the better.