Welcome to our newsletter with a selection of news and the most important regional updates for Russia & the CIS for August 2020. Hope you will find our news useful for your business!
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SCHNEIDER GROUP NEWS

SCHNEIDER GROUP and DSIGHT partner to connect Russian tech startups and international companies

To facilitate collaboration between international companies looking for promising technological ideas or qualified teams for implementing ambitious IT projects, DSIGHT and SCHNEIDER GROUP are launching a series of online events, introducing the Russian tech market. Stay tuned for a dedicated event invitation!
For a short glimpse into the Russian venture landscape, join the online presentation of “Venture Russia, H1 2020” report on September 23rd.

SCHNEIDER GROUP launches a Telegram bot for easy creation of company charters

To register a business entity in Russia a comprehensive set of documents, including a company charter, is required. SCHNEIDER GROUP bot helps save resources on a charter preparation: answer 7 questions to get the best suited for your company charter template. Try it now!

Ulf Schneider speaks about current situation in Belarus in an interview for Wirtschaftswoche

Belarus is ideally situated as a bridge between the EU and Russia. And still many German businesses do not even know where the country is located. What is behind today’s protests, what could be the further developments and how they can affect international businesses in Belarus explains Ulf Schneider in an interview for German Wirtschaftswoche.

Current situation in Belarus and US-China trade war and its consequences for Russia: new highlights of the 5. Manufacturers Forum

Join the discussion about the current Belarus crises, its threats & opportunities for global businesses working in the country and find out what international managers should know from Natalia Shulzhenko, Partner, SCHNEIDER GROUP Belarus. Become a Guest, Speaker or event Partner.
Become a Guest, Speaker or event Partner at the 5th Manufacturers Forum.

COUNTRY UPDATES

• RUSSIA

Changes in the rules of statistical customs declaration

New rules should maintain mutual trade data and statistics between the EAEU countries. The changes include the prolongation of report submission deadlines up to 10 days, cancellation of paper-form reports and report provision by customs representatives and more. Get the details here.
Request support in the preparation of statistical forms in accordance with the new rules, as well as in the analysis of transactions in order to determine the obligation to provide reporting.

Liability for non-repatriation of foreign currency revenue significantly reduced

On July 20, 2020, amendments to the Code of Administrative Offenses of the Russian Federation significantly reduced the liability for non-repatriation of foreign currency revenue.
Get in touch with SCHNEIDER GROUP tax experts for an analysis of your existing contracts: to identify tax risks and risks of violation of currency legislation, as well as preparation of legally compliant contract schemes. Read more.

Simplified procedure for obtaining the tax resident status for individuals in 2020

Starting July 31, 2020, individuals are allowed to remain tax residents of the Russian Federation even if they stayed in the Russian Federation for less than 183 days during 2020. For any questions about personal income taxes or to determinate your status as a tax resident, you can learn more and consult SCHNEIDER GROUP tax experts.

Updated rules of procedure in Arbitration Courts

The Supreme Court of the Russian Federation issued a new explanation of the rules for court proceedings in the appellate and cassation instances in arbitration courts that deal with disputes related to business activities. Learn more about the updated procedures or request support with civil, corporate, labour, tax or administrative disputes according to the new rules.

• UZBEKISTAN

Transition to IFRS reporting

Starting January 1, 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 both reporting preparation services, as well education courses for in-house personnel to equip them with the required knowledge for correct accounting and reporting. Request more information on IFRS education for accountants.

A new direction for German business

Ulf Schneider, Founder and President of SCHNEIDER GROUP, and Nodir Ayupov, Head of SCHNEIDER GROUP Tashkent, participated in an online conference with Uzbek government representatives and German entrepreneurs. Read more about the tax and foreign exchange reforms, opportunities for European business and investment prospects in Uzbekistan here.

• BELARUS

SCHNEIDER GROUP’S appeal regarding the current situation in Belarus 

Read SCHNEIDER GROUP’s open letter calling for an end to the violence and an open dialogue between the government and people, as well as our hopes for the future.