The presentation stated the latest changes in accounting and audit legislation. Tax legislation, especially the new e-process and transfer pricing, was emphasised.
Latest news on accounting and tax legislation in Russia
1. LATEST NEWS ON
ACCOUNTING AND TAX
LEGISLATION
4.12.2014
Ms. Ekaterina Zelenina,
Director of Financial Management Services, Accountor
Russia&Ukraine
TaXmas 2014 St. Petersburg
2. Latest changes 04/11/2014 Law 344:
+ Simplified accounting is forbidden for companies which fall under
statutory audit
+ Bank of Russia and Ministry of Finance now have rights to issue
for transmission period, before appropriate Standards - for quicker reaction
changes of legislation
+ Russian Gaap is regulated by Federal Standards only. All norms regarding
accounting regulations have been excluded from other laws, (law on
leasing, agriculture, etc.)
+ Compulsory Consolidated accounting report – in Rubles.
REMINDER: Russian GAAP includes 21 Standards, which are based on
IFRS.
Accounting news
4/12/142
3. Federal law 251-ФЗ from 23.07.2013
if a company falls under obligatory audit
+ annual report is handled to Statutory Statistics Office together with audit
conclusion
+ annual report of OAO is published with audit conclusion
+ The company should keep audit conclusion for 5 years (as with all financial
reporting)
+ Expected: statutory audit will be obligatory for all joint stock companies
including ZAO (draft law accepted in 2 readings)
+ REMINDER: statutory audit is obligatory if in year prior to reporting
+ Assets value > 60 mln rubles Net turnover > 400 mln rubles
Audit
4/12/143
4. + Costs on %% under loans become deductible without limit
Exception 1: %% falls under thin capitalization rule – restricted, as earlier
Exception 2: %% falls under controlled deals - deductible in sum according to rules of
Clause about transfer pricing (20.04.2014 № 81-ФЗ.)
+ Tax on property
A company using a special tax regime, must anyway pay property tax if the tax value of
the property is defined as cadastre value) all commercial real estate 02.04.2014 № 52-
ФЗ.
+ Social contributions to State Pension Fund are paid from salaries of all
foreign employees, not depending on duration of their stay in Russia. Exception
– highly qualified specialists 28.06.2014 № 188-ФЗ.
+ Private office of taxpayer = ‘Tax office Extranet’
All correspondence with tax office can be undertaken via this 04.11.2014 N 347-ФЗ.
Taxation from 1.1.2015
4/12/144
5. VAT – trend towards e-processing!
+ New form of VAT declaration
+ New process for VAT cameral check
+ New process for VAT tax administration
Taxation from 1.1.2015
4/12/145
6. e-Tax
declaration
e-Sales book
list of VAT on
sales per invoice-
factura
e-Purchase book
list of VAT
deductions per
invoice-factura
e-Database
of tax office
data for all VAT
accrued on sales
per invoice-factura
data for all VAT
deductions
per invoice-factura
VAT-2015: new e-processes
4/12/146
Tax deduction is approved automatically if 2 invoice-facturas “match”
each other. This can be checked on the taxpayer office “extranet”
7. TRANSFER PRICING
+ All companies having deals with non-
residents in 2014 must present tax
notification by 20/5/2015
- NO LIMIT of deals sum anymore!
Taxation from 1.1.2015
4/12/147
8. • New section V.I of Tax Code of Russia came into
force
1.1.2012
• Deadline for TP declaration 201220.5.2013
20.11.2013
• From this date Federal Executive Body of TP control
can send request on TP documentation-2012.1.12.2013
• Deadline for TP declaration 201320.5.2014
• From this date Federal Executive Body of TP control
can send request on TP documentation-2013.
1.6.2014
• Deadline to appoint TP tax checking of year 2012.30.6.2014
• Deadline for TP declaration 201420.05.2015
• From this date Federal Executive Body of TP control
can send request to taxpayer on TP documentation-
2014.
1.6.2015
• Deadline to appoint TP tax checking of year 201331.12.2015
TRANSFER PRICING CALENDAR 2015
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Это заработает с декларации за 1 кв 2015. Вычеты по с/ф 2014, представленные в 2015 будут камералить по-старому. В связи с нововведением ожидается много тех. вопросов, есть даже законопроект продить до 25/4/2015 срок декларирования