The Russian accounting rules differ from international ones and are constantly changing. As a result, bookkeeping requires significant resources for correct recognition of transactions, paperwork, and prompt responses to numerous requests from the Tax Authorities. In such circumstances, the best way to manage risks and resources is to turn to experts.
Our team is ready to help with accounting and reporting for both Russian and foreign companies operating in Russia through a representative office or branch, or providing services in an electronic form to Russian clients. We will also be happy to assist individuals with the preparation of reports on their assets.
Starting a business
When starting a business in Russia, foreign investors have to choose the legal form, name and obtain a legal address, decide on the management structure and size of the charter capital, and prepare documents for the registration of their structure. It is necessary to rent premises to obtain a legal address, open a bank account, register the business with the Tax Authorities, Social Funds and Statistics Authorities, as well as handle labour and migration issues, set up an accounting system and ensure reporting of its activities. Our team takes care of these and other issues about registration and launch of businesses in the country.
Services for legal entities
As part of their current activities, companies in Russia are facing the issues of recognition of operations in accounting, reporting and timely submission of all the required reporting forms. Difficulties could arise from both business growth and expansion of activities that require additional resources, and constant changes in the accounting and tax legislation that require a methodological study of issues and changes in the accounting processes, document forms and types of reports that must be submitted.
Our team is ready to help both with separate issues on accounting and full scope outsourcing, which includes taking over the accounting and tax functions of your company.
The liquidation procedure in Russia is quite complex, time-consuming and involves many formalities, including the preparation of the necessary documents, publication of an announcement in the press (media), notification of creditors, archiving of documents, etc. In addition, liquidated companies are usually subject to tax audits, which can be unpredictable timewise due to the numerous requests from the Tax Authorities.
Our team has extensive experience in supporting the liquidation process.
Services for foreign companies
Foreign companies, which provide electronic services to Russian customers, have to register with the Russian Tax Authorities, calculate the VAT on electronic services, report quarterly and pay tax. In practice, foreign companies face many issues, including the determination of the taxable base, correct indication of payment details in the payment order, communication with the Tax Authorities in case the payment has not been credited or within the tax audit procedures and requests. Our team is ready to take over the entire process and ensure that foreign companies using its services, fully comply with the local VAT requirements on electronic services.
Services for individuals
Individuals may face various issues regarding the preparation and submission of personal income tax returns, reports on foreign accounts for the purposes of compliance with the currency legislation, calculation of the CFC profits and preparation of the relevant reporting forms, building communication with the Tax Authorities during tax audits.
We are ready to assist in these and other issues.