Welcome to our newsletter with a selection of news and the most important regional updates for Russia & the CIS for July 2020. Hope you will find our news useful for your business!
SCHNEIDER GROUP NEWS
What defines the success of a top manager? How can business cope with the challenges of lockdown and remote work? What makes a team efficient and what is the role of agility in business decision-making? What are the lessons learnt from the corona-lockdown?
Get the answers to these and many other interesting questions in the exclusive interview with SCHNEIDER GROUP Founder & President Ulf Schneider.
Increasing complexity of human records management as a major driver for accounting outsourcing services
Understand the influence of coronavirus and impact of digitalization on the accounting outsourcing market in an exclusive interview with Ekaterina Lozhkova, Financial Director, Partner, SCHNEIDER GROUP for the biggest Russian ranking portal RAEX.
Meet us at the 5th Manufacturers Forum in Frankfurt am Main (September 25th).
Learn “How is Russia performing economically as compared with other markets? What is the corporate experience of location and producing in Russia?” from Daniel Thorniley, Founder and President, DT Global Business Consulting GmbH.
Join the discussion as a Guest, become a Speaker or event Partner.
Join Ullf SCHNEIDER & Lars Flottrong in the online event by Bundesverband mittelständische Wirtschaft and SCHNEIDER GROUP on August 18th, 4 p.m. (MEZ). Find out what are the industries with the biggest potential? How have the international sanctions influenced market dynamics and purchasing power? Can I sell in Russia without registering a local business entity? What are the specific certification requirements?
Starting January 1st, 2021, business entities in Uzbekistan are to organize IFRS reporting and to ensure the availability of qualified personnel for a smooth transition to new standards.
SCHNEIDER GROUP Uzbekistan offers reporting preparation and education courses for in-house accountants. Find out more here.
Request information on IFRS education for accountants.
Starting August 1st, Russian citizens returning to Russia on exported flights are not obliged to observe 14 days of self-isolation. This restriction still applies to foreign citizens arriving to Russia for work.
Read more and request consultation on the requirements for entry of your employees.
All medicines intended for the Russian market must be marked with a unique digital code for protection against counterfeiting and tracking the movement of medicines from the manufacturer to the final consumer.
Read more and request information on ensuring compliance with labelling requirements.
The regulation is valid for drugs produced without application of identification means inside the Russian Federation from July 1st, 2020 to October 1st, 2020 and outside Russia until October 1st, 2020.
Read more and request assistance to clarify the procedures for your medical goods.
The adoption of the MLI combats tax evasion and abuse of tax benefits granted under double taxation treaties (DDT).
Read more and request support in assessing the possible impact of changes for your business.
Foreign citizens who enter, exit, stay, or transit in the visa regime, have a visa of one of the states, and have a valid identity document, will be able to freely enter, leave, stay or transit through the territories of Belarus and Russia during the validity period of the visa.
Read more and request clarifications on treaty application.
Starting from 2021, in addition to the Report on Controlled Transactions and Notification on participation in the international group of companies an additional set of documents is required.
Read more and request consultation to ensure compliance of your transfer pricing with the legislative updates.
The new law puts the ultimate beneficial owners (UBO) of legal entities under special state control and obliges to submit the information about the UBO into the unified state register.
Read more and request information on the legal requirements for UBO disclosure.
Foreign citizens arriving in Belarus should have negative COVID-19 test results (conducted not later than 2 days before their arrival in Belarus).
Read more and request consultation on enabling entry of your foreign employees to Belarus.
Amendments to corporate tax calculations
The Parliament of the Republic of Armenia adopted amendments to the Tax Code regarding the profit tax prepayment system on June 16th, 2020 to support taxpayers suffered from COVID-19.
Request consultation to evaluate if these tax incentives can be valid for your business.
On June 25th, 2020, the President of the Republic of Kazakhstan signed the law on the regulation of digital technologies to improve personal data protection.
Read more and request consultation on ensuring compliance with the updated law.
Prolongation of tax payment deadlines, 8% VAT for sales and import of goods included in the list of the socially significant products, and other incentives are available for micro, small, and medium businesses.
Read more and check if your business entity in Kazakhstan qualifies for support.
For entities which are the subject of the supervision of the Polish Financial Supervision Authority (KNF) (e.g. listed companies, banks), the deadline was extended by 2 months.
Read more and request consultation on extended deadlines and procedure changes.