From problem to solution

Registering A Business

December 2013

After the future entrepreneur has decided on the manner in which they will form their business – (i.e. personally or through an organization), and if through an organization, what kind exactly, at the time of business registration. The registration rules are not all that different from IP or from organizations of different forms. Therefore, we will base our example on the formation of an LLC.

Outsourcing services for Russian and foreign businesses

September 2013

Much has been said about the advantages of outsourcing, and it is a service that can be of particular use for those just starting out in business. Many of the problems that arise when a business is getting going can be solved by good outsourcing. The audit company ICLC has provided outsourcing services for both Russian and foreign companies for over 10 years.

Accreditation Services for Representative Offices of Foreign Legal Entities

June 2013

Those who decide to do business and open representative offices in Russia soon face the question: whether to assign the registration matters to a third-party organization or handle them on their own. Each option has its own advantages and disadvantages. Practical advice for those intending to register business in the Russian Federation unassisted will be published in the next issue of Russian Survey, and now we are going to tell you аbout the services provided by International Consulting and Legal Center (ICLC) auditing company specifically to foreign companies intending to open their representative offices in Russia.

Transfer pricing

March 2013

New tax control rules on transfer pricing have been in force for more than a year in Russia. These rules came into effect starting in 2012 and their goal is to counteract the use of transfer prices for avoiding paying taxes and taking profit out of Russia (by sending it abroad). We would like to point out that May 20th of next year is the deadline for when taxpayers must submit an accounting report to tax authorities on the transactions they completed throughout the year. Consequently, taxpayers must report on their controlled transactions performed during 2012 by May 20th of this year.

Foreign loans are economically-sound, but not always

September 2012

Russian and foreign companies, in particular those apart of holding structures, use loan operations fairly often: Russian organisations use borrowed money at an interest rate from “friendly” foreign partners.

To make sure that trademarks do not become problematic

June 2012

International registration is deemed lawful only if the trademark is registered in accordance with the Madrid Agreement Concerning the International Registration of Marks dated April 14th, 1891 and its accompanying Protocol dated June 28th, 1989, which are both legally-binding in Russia. The International Bureau for Intellectual Property is the body that processes international trademark registration.

Audit of tax liabilities and amounts due to non-budgetary funds

March 2012

ICLC offers an increasingly popular service “Audit of tax liabilities and amounts due to non-budgetary funds” which focuses on assessing, reducing and preventing potential loss arising from risks associated with improper calculation of tax liabilities and amounts due to non-budgetary funds. These risks include fines, penalties and other sanctions which might be imposed by authorities.

Protecting the interests of customers in disputes with tax authorities

August 2011

The experience of ICLC’s lawyers suggests that of all the state agencies it is tax authorities that businesses have disputes with for the most part, although from time to time they also have to deal with state regulatory agencies supervising adherence to advertising, antitrust, budget, foreign currency, labour and other laws. Nevertheless the bulk of all disputes are those resulting from tax audits.

How to choose a financial outsourcer

June 2011

Financial outsourcing is a service that the increasing number of Russian managers are considering. However many companies are discoursed from outsourcing their financial function by the difficulty of selecting a reliable outsourcer. More about the market of financial outsourcing in the Russian Federation read the article ‘Financial outsourcing in Russia- a prospective market or just a bit on the side for auditors?’.

ICLC services for representative offices of foreign companies

March 2011

Opening a representative office in Russia is often fraught with considerable complications for foreign companies, which are chiefly related to the specifics of the tax, civil and labour law, as well as the formalities pertaining to financial accounting. This is hardly surprising considering that every state has its own laws and regulations in the afore-mentioned domains.

Income tax return - a right for some, an obligation for others…

March 2011

Traditionally Russian people have to file their income tax returns within the first months of the new calendar year following the tax year, though Russian citizens are not the only people who have to submit their taxes to the state, in some cases people who do not have Russian citizenship are required by law to do so as well. In some cases, income that is received outside Russia must be reported too.