About migration innovations for foreigners in 2022
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In 2022, foreign citizens in Russia are waiting for changes in the field of migration legislation.
From 29.12.2021, mandatory medical examination, fingerprint registration and photographing are introduced for foreign citizens entering Russia for a period of more than 90 days, and in the case of their employment within 30 days. These requirements do not apply to citizens of Belarus, persons under the age of 6, as well as diplomats and their family members. In case of failure to pass these procedures, the period of stay in Russia for a foreign citizen may be shortened.
Since 11.12.2021, the regulations for issuing temporary residence permits and residence permits have been changed. Relevant changes have been made to the regulations. The forms of applications for a temporary residence permit and a residence permit in Russia have changed, a medical report can be provided within 30 days from the date of submission of documents, when obtaining a residence permit, it is not required to obtain a certificate of no criminal record, if it was previously provided when applying for a temporary residence permit.
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The calculation of the income of a foreign company has been updated
According to the new rules, tax agents, including foreign companies, must submit reports on income and withheld taxes when paying abroad from a source within the country. We are talking, in particular, about dividends, income from the sale or lease of real estate and transactions with Securities and Shares. Both taxable and non-taxable…
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Simplified taxation system as a type of tax regime
Organizations and individual entrepreneurs engaged in professional commercial activities can choose the most appropriate tax regime that best suits the structure of the company’s activities. A simplified taxation system is one such option. The simplified taxation system, abbreviated STS, is a special taxation system for enterprises and individual entrepreneurs. Under this taxation system, enterprises…
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The tax rate for a business that raises prices may increase
The Ministry of Finance issued a statement that, in their opinion, the rate should remain ad valorem – that is, the greater the profit, the more taxes the company should pay from it. The proposal that came to the Ministry proposed a plan for tax increases in proportion to prices. The more often…
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New amendments to the Law on Citizenship of the Russian Federation
A new Federal Law 138F3 “On Citizenship of the Russian Federation” has recently come into force, which provides for some changes in the process of obtaining citizenship. According to the new law, the procedure will become easier for respectable and law-abiding citizens. The new law contains provisions that simplify the procedure for acquiring Russian citizenship…
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Companies working with foreigners will retain tax benefits
In the second reading, a bill was adopted that allows organizations to apply tax benefits when working with foreign counterparties. Now, if the contract was concluded with a foreign company before March 5, 2022, it will be possible to apply the same benefits that were previously available under double taxation avoidance agreements. Tax benefits…
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Taxation on debt forgiveness by a foreign company
Contents: Debt forgiveness, when a lender refuses to repay borrowed funds, is a complex legal and financial issue. If the debt is forgiven by a foreign company, then the taxation of this process may become an object of attention of the tax authorities. Why write debts to foreign companies at all? The fact is…
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Receiving income from a foreign company and taxation in Russia
Contents: The world economy is going global. Every day more and more people and companies participate in international transactions. This means that more and more Russian citizens and companies receive income from foreign sources. In this article, it will look at what tax aspects are associated with receiving income from a foreign company in…
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Exit of a foreign participant from the LLC in 2023
Contents: Foreign economic activity and attractive investment opportunities make Russia a good place for foreign entrepreneurs. Many of them decide to create their own limited liability company in Russia to conduct business. However, as in any other business, there are risks that the owners may face the need to exit the LLC. In this…
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Payment of dividends to a foreign founder in Russia
Contents: Dividends are a part of the profit that a company pays to its shareholders in the form of cash or other valuables. Dividends are one of the ways to compensate investors for their investments in the company’s shares. In fact, they represent a share of profits that is distributed among shareholders. In the…
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