We are informing our readers about the most important changes in Russian legislation: news about VAT, corporate income tax, news in labor legislation, etc.
We are informing our readers about the most important changes in Russian legislation: news about VAT, property tax, cash transactions, primary documentation, etc.
Grant Thornton Vietnam Tax Newsletter - August 2016Alex Baulf
In this Newsletter, Grant Thornton Vietnam would like to highlight the following updates relating to taxation and customs:
1. Guidance from the Ministry of Finance on VAT refund and penalty for late tax payment from 1st July 2016
2. Procedures for payment to State Budget for tax liability and domestic revenue from 1st August 2016 onwards
3. Sponsorship expenditure to Clients shall not be regarded as tax deductible expenses
4. House lease expense of individuals
5. Sponsorship cost of Master’s Degree programs for employees shall be regarded as tax deductible expenses for CIT purpose
6. Approval on "Bilateral agreement and documentation to implement the Foreign Account Tax Compliance Act between Vietnam and the United States"
7. Procedures on cancellation, liquidation and tax refund for defective goods of foreign invested enterprises
8. Procedures on adjustment to the duration of processing contract
9. Trading of goods of Exporting-Processing Enterprises
This newsletter is for reference purposes only. Grant Thornton Vietnam holds no responsibility for mistakes therein, as well as damages caused by the use of information from this newsletter without official advisory opinions from Grant Thornton Vietnam before practice.
Should you need to use information from this newsletter or support from Grant Thornton Vietnam, please contact our professional consultants.
This document discusses revenue audit in Malaysia. It provides context on Malaysian government revenues, which are mainly from taxes. Taxes include direct taxes collected by the Inland Revenue Board such as income tax, and indirect taxes collected by the Royal Customs and Excise Department such as import duties. The Auditor General is mandated to audit government revenues under the Federal Constitution and Audit Act. Revenue laws allow the Auditor General access to financial records to audit both tax assessment and collection. The National Audit Department audits assessment and collection of revenues by reviewing tax files and customs declaration forms.
VDS Guideline and VAT Rate for the FY 2020-2021 in comparison with FY 2019-2020Masum Gazi
Guideline for VAT deduction/ collection at source as per VDS order 2020 (SRO. No. 149-Law/2020/110-Mushak) and VAT rate for all services for the FY 2020-2021 in comparison with the FY 2019-2020.
This document provides an overview of value added tax (VAT) in Russia. It discusses general provisions such as the VAT law, taxable supplies, exemption, and rates. It also covers specifics about output VAT, input VAT, VAT invoices, records, and returns. The document contains several appendices with examples and lists of supplies subject to different VAT treatments such as reduced rates, zero rates, and exemptions.
Public notice regarding e-BIN and guidelines for filing information in online...Masum Gazi
Public notice for updating e-BIN information in IVAS system or taking new VAT registration/Turnover enlistment number by 31 July 2019 upon filing required information of Mushak-2.1. and guidelines for filling Mushak-2.1.
This document is the fourth issue of the "SAP ERP Updates Digest for Russia" prepared by MGR-Consulting. It provides an overview of legislative changes and recommendations for preparing SAP ERP for the fourth quarter of 2015. The updates are presented in the modules of Finance, Human Capital Management, and Logistics. The Human Capital Management chapter discusses 13 new rules and regulations affecting areas like insurance premiums, reporting forms, calculating benefits, and hiring foreign workers.
TDS rate in Bangladesh for the FY 20-21 in comparison with FY 19-20 and regul...Masum Gazi
Tax Deducted at Source (TDS)/Collected at Source (TCS) in Bangladesh for the FY 2020-21 in comparison with the FY 2019-20 and regular requirements/compliance under Income Tax Ordinance and Rules 1984 in Bangladesh.
We are informing our readers about the most important changes in Russian legislation: news about VAT, property tax, cash transactions, primary documentation, etc.
Grant Thornton Vietnam Tax Newsletter - August 2016Alex Baulf
In this Newsletter, Grant Thornton Vietnam would like to highlight the following updates relating to taxation and customs:
1. Guidance from the Ministry of Finance on VAT refund and penalty for late tax payment from 1st July 2016
2. Procedures for payment to State Budget for tax liability and domestic revenue from 1st August 2016 onwards
3. Sponsorship expenditure to Clients shall not be regarded as tax deductible expenses
4. House lease expense of individuals
5. Sponsorship cost of Master’s Degree programs for employees shall be regarded as tax deductible expenses for CIT purpose
6. Approval on "Bilateral agreement and documentation to implement the Foreign Account Tax Compliance Act between Vietnam and the United States"
7. Procedures on cancellation, liquidation and tax refund for defective goods of foreign invested enterprises
8. Procedures on adjustment to the duration of processing contract
9. Trading of goods of Exporting-Processing Enterprises
This newsletter is for reference purposes only. Grant Thornton Vietnam holds no responsibility for mistakes therein, as well as damages caused by the use of information from this newsletter without official advisory opinions from Grant Thornton Vietnam before practice.
Should you need to use information from this newsletter or support from Grant Thornton Vietnam, please contact our professional consultants.
This document discusses revenue audit in Malaysia. It provides context on Malaysian government revenues, which are mainly from taxes. Taxes include direct taxes collected by the Inland Revenue Board such as income tax, and indirect taxes collected by the Royal Customs and Excise Department such as import duties. The Auditor General is mandated to audit government revenues under the Federal Constitution and Audit Act. Revenue laws allow the Auditor General access to financial records to audit both tax assessment and collection. The National Audit Department audits assessment and collection of revenues by reviewing tax files and customs declaration forms.
VDS Guideline and VAT Rate for the FY 2020-2021 in comparison with FY 2019-2020Masum Gazi
Guideline for VAT deduction/ collection at source as per VDS order 2020 (SRO. No. 149-Law/2020/110-Mushak) and VAT rate for all services for the FY 2020-2021 in comparison with the FY 2019-2020.
This document provides an overview of value added tax (VAT) in Russia. It discusses general provisions such as the VAT law, taxable supplies, exemption, and rates. It also covers specifics about output VAT, input VAT, VAT invoices, records, and returns. The document contains several appendices with examples and lists of supplies subject to different VAT treatments such as reduced rates, zero rates, and exemptions.
Public notice regarding e-BIN and guidelines for filing information in online...Masum Gazi
Public notice for updating e-BIN information in IVAS system or taking new VAT registration/Turnover enlistment number by 31 July 2019 upon filing required information of Mushak-2.1. and guidelines for filling Mushak-2.1.
This document is the fourth issue of the "SAP ERP Updates Digest for Russia" prepared by MGR-Consulting. It provides an overview of legislative changes and recommendations for preparing SAP ERP for the fourth quarter of 2015. The updates are presented in the modules of Finance, Human Capital Management, and Logistics. The Human Capital Management chapter discusses 13 new rules and regulations affecting areas like insurance premiums, reporting forms, calculating benefits, and hiring foreign workers.
TDS rate in Bangladesh for the FY 20-21 in comparison with FY 19-20 and regul...Masum Gazi
Tax Deducted at Source (TDS)/Collected at Source (TCS) in Bangladesh for the FY 2020-21 in comparison with the FY 2019-20 and regular requirements/compliance under Income Tax Ordinance and Rules 1984 in Bangladesh.
VDS Guideline and VAT rate for the FY 2020-2021Masum Gazi
Guideline for VAT deduction/collection at source as per VDS Rules 2020 (SRO. No. 149-Law/2020/110-Mushak, dated 11 June 2020 & SRO. No. 180-Law/2020/120-Mushak, Dated: 30 June 2020) and VAT rate for all services for the FY 2020-2021 in comparison with FY 2019-2020 updated on 30 June 2020
Circular 10/2014/tt-btc GUIDING THE SANCTIONING OF ADMINISTRATIVE VIOLATIONS ...Tony Auditor
This document is a circular from the Ministry of Finance of Vietnam providing guidance on sanctioning administrative violations related to invoices. It outlines the scope, subjects, and principles of sanctioning for invoice violations. It defines mitigating and aggravating circumstances. It also specifies statutes of limitations and establishes frameworks for fines related to different types of invoice violations. The circular aims to standardize and strengthen the sanctioning of administrative violations pertaining to invoices in Vietnam.
Regular requirements of income tax to be complied be companies branch office-...Masum Gazi
Regular requirements of Income Tax required to comply by a company/Branch office/Liaison office/Bank/Non-Banking Financial Institutions/Insurance company/NGOs etc. according to the Income Tax Ordinance and Income Tax Rules 1984
Grant Thornton Hungary Tax News - November 2014 en (2)Alex Baulf
Tax Service News from Grant Thornton Hungary:
Grant Thornton Hungary would like to call your attention to the most important tax law changes. Most of the changes will enter into force by 1 January 2015. We indicate separately, if legislation enters into force at a different date.
The information provided herein is of general nature and is based on facts subject to change. Such information may not be regarded and therefore in no way interpreted as accountancy, legal or taxation advice provided to the reader by Grant Thornton Hungary. These materials are not aimed at complying with particular scenarios and to be suitable for application in certain situations, therefore the consideration of certain taxation law and other factors not
discussed herein may be necessary. With regard to this – should you resolve upon any action whatsoever based on the information provided herein – it is recommended to establish contact with Grant Thornton Hungary or other taxation specialists. Amendments of the taxation laws and other factors may influence the contents communicated herein – in certain cases even with retroactive effect. Grant Thornton Hungary assumes no responsibility of informing the readers of these changes.
The document discusses the key aspects of e-invoicing under GST in India. It notes that as per the latest notification, e-invoicing will be mandatory for registered persons whose aggregate turnover in the previous financial year exceeds Rs. 500 crores and will come into effect from October 1st, 2020. It will not apply to SEZ units or sectors like insurance, banking, financial institutions, goods transport, and passenger transport. The invoice registration portal will generate a unique invoice reference number after the specified persons upload the invoice details. E-invoices can only be cancelled on the IRP within 24 hours, while amendments and cancellations can continue to be done on the GST portal as per existing provisions.
TCG_Newsletter_January and February 2019_EnTham Le
Welcome to our newsletter in January and February 2019. You will find that it is filled with legal regulations in certain areas of business.
We hope this newsletter to keep you updated on the latest legal news and be valuable to your operation.
Thanks for your reading and we would love to hear your comments that could make our reports better and better.
The most important changes that were introduced to the Russian Tax Code, accounting and audit law in 2015 and will come into force on January 01, 2016. recommendations about the latest transfer pricing practices as and taxation of interests for intra-group loans.
Rates of TDS or TCS and regular requirements under income tax ordinance and r...Masum Gazi
This document provides guidelines for tax deducted at source (TDS) and tax collected at source (TCS) requirements and other regular requirements under the Income Tax Ordinance and Rules of Bangladesh. It discusses the various types of income from which tax must be deducted or collected, when and how the deducted/collected amounts must be deposited, requirements for monthly statements and advance tax payments, and consequences for non-compliance. The guidelines are intended to help ensure proper compliance with Bangladesh's TDS/TCS and regular income tax obligations.
The Income Tax Appellate Tribunal (ITAT) is the highest appellate authority under the Income Tax Ordinance, 2001. It is appointed by the Federal Government and hears appeals against decisions of the Commissioner (Appeals). The ITAT consists of judicial and accountant members appointed by the Federal Government. It regulates its own procedures and decides appeals through benches, with decisions made based on majority opinion. A decision on a point of fact by the ITAT is final, while a decision involving a point of law can be referred to the High Court.
This document provides an overview of taxation, legal forms of business, social security, and labor law in Slovakia. It discusses Slovakia's location, capital, population, languages, currency, head of state, GDP growth, and membership in international organizations. It then summarizes corporate income tax rates, personal income tax rates, taxation of resident and non-resident companies, anti-avoidance rules including thin capitalization and transfer pricing, real estate investment, legal forms of business, social security contributions, and general labor law. Contact information is provided for tax and legal experts in Slovakia.
The document summarizes key changes to Oman's taxation laws effective in 2017. The main changes include an increase in corporate income tax rate from 12% to 15%, elimination of the tax exempt threshold of 30,000 Omani Rials, and expansion of withholding tax provisions to apply to dividend, interest, and service payments to foreign entities in addition to existing categories. A lower 3% tax rate is introduced for small businesses meeting certain criteria. Tax cards will also be implemented for all taxpayers.
Summary of the main changes to the Norms to the Fiscal Code in RomaniaAccace
Government Decision no. 1/2016 for the approval of the methodological norms for the application of the new Tax Code has been published in the Official Gazette no. 22 on 13 January 2016. As a general note, the newly published Norms bring more examples and details in order to clarify the provisions of the Fiscal Code applicable starting 1 January. We have summarized below the main amendments and clarifications introduced by the Norms, organized as the titles of the Fiscal Code.
A GST invoice is a document which will capture all the relevant details of a business transaction including information about both the parties. It will comprise the product name, description, quantity, details of supplier, purchaser, rate charged, discounts, terms of sale etc. Read more at
http://mastersindia.co/gst/gst-invoicing
The document summarizes the process for migrating existing taxpayers to the Goods and Services Tax (GST) system in India. It involves the following key steps:
1. Taxpayers obtain a GSTN login ID and password from the aces.gov.in website to complete the enrollment process on gst.gov.in.
2. Taxpayers complete the enrollment process on gst.gov.in by providing business and registration details as well as uploading required documents.
3. Upon successful submission, taxpayers receive a provisional GSTIN and final registration within 6 months if all information is verified correctly.
The document discusses the authorities under the Income Tax Act and their powers. It defines the various income tax authorities like Central Board of Direct Taxes, Principal Directors General of Income Tax, Income Tax officers and their powers. These include powers of discovery, inspection, summons, production of documents and issuing commissions. It also discusses the constitution and functions of the Central Board of Direct Taxes and the bifurcation of the tax boards in 1964. Finally, it mentions the provisions related to assessing officers, search and seizure operations and the functioning of Centralized Processing Centers.
The Kelkar-Shah Committee made recommendations for implementing GST in India in four stages:
1) Establishing IT systems to handle GST processes
2) Building the Central GST system
3) Obtaining agreement from states through political negotiations on a "Grand Bargain"
4) Interacting with states to bring them on board with the GST system
The Committee also recommended reducing customs duties gradually and replacing other indirect taxes such as excise duty and service tax with the GST over time.
- Прием на работу – материальные и процессуальные ошибки работодателей.
- Рейтинг ошибок работодателей при увольнении работников.
- Риски и сценарии конфликтных увольнений.
- Employment - financial and procedural mistakes
- Top list of employers’ mistakes in staff dismissal.
- Risks and scenarios of dismissal conflicts.
Youri Smakouz, Associate Director at Risk Advisory Group Russia, Eastern Europe and Eurasia, gave a general political and economic overview of the current Ukraine-related sanctions and concluded by expanding on their impact on the Russian economy and its investment climate.
Oleg Babinov, Head of Risk Advisory Group Russia, Eastern Europe and Eurasia, continued the presentation, giving an evaluation of prospects and predicting the most likely future scenarios for the current sanctions regime.
VDS Guideline and VAT rate for the FY 2020-2021Masum Gazi
Guideline for VAT deduction/collection at source as per VDS Rules 2020 (SRO. No. 149-Law/2020/110-Mushak, dated 11 June 2020 & SRO. No. 180-Law/2020/120-Mushak, Dated: 30 June 2020) and VAT rate for all services for the FY 2020-2021 in comparison with FY 2019-2020 updated on 30 June 2020
Circular 10/2014/tt-btc GUIDING THE SANCTIONING OF ADMINISTRATIVE VIOLATIONS ...Tony Auditor
This document is a circular from the Ministry of Finance of Vietnam providing guidance on sanctioning administrative violations related to invoices. It outlines the scope, subjects, and principles of sanctioning for invoice violations. It defines mitigating and aggravating circumstances. It also specifies statutes of limitations and establishes frameworks for fines related to different types of invoice violations. The circular aims to standardize and strengthen the sanctioning of administrative violations pertaining to invoices in Vietnam.
Regular requirements of income tax to be complied be companies branch office-...Masum Gazi
Regular requirements of Income Tax required to comply by a company/Branch office/Liaison office/Bank/Non-Banking Financial Institutions/Insurance company/NGOs etc. according to the Income Tax Ordinance and Income Tax Rules 1984
Grant Thornton Hungary Tax News - November 2014 en (2)Alex Baulf
Tax Service News from Grant Thornton Hungary:
Grant Thornton Hungary would like to call your attention to the most important tax law changes. Most of the changes will enter into force by 1 January 2015. We indicate separately, if legislation enters into force at a different date.
The information provided herein is of general nature and is based on facts subject to change. Such information may not be regarded and therefore in no way interpreted as accountancy, legal or taxation advice provided to the reader by Grant Thornton Hungary. These materials are not aimed at complying with particular scenarios and to be suitable for application in certain situations, therefore the consideration of certain taxation law and other factors not
discussed herein may be necessary. With regard to this – should you resolve upon any action whatsoever based on the information provided herein – it is recommended to establish contact with Grant Thornton Hungary or other taxation specialists. Amendments of the taxation laws and other factors may influence the contents communicated herein – in certain cases even with retroactive effect. Grant Thornton Hungary assumes no responsibility of informing the readers of these changes.
The document discusses the key aspects of e-invoicing under GST in India. It notes that as per the latest notification, e-invoicing will be mandatory for registered persons whose aggregate turnover in the previous financial year exceeds Rs. 500 crores and will come into effect from October 1st, 2020. It will not apply to SEZ units or sectors like insurance, banking, financial institutions, goods transport, and passenger transport. The invoice registration portal will generate a unique invoice reference number after the specified persons upload the invoice details. E-invoices can only be cancelled on the IRP within 24 hours, while amendments and cancellations can continue to be done on the GST portal as per existing provisions.
TCG_Newsletter_January and February 2019_EnTham Le
Welcome to our newsletter in January and February 2019. You will find that it is filled with legal regulations in certain areas of business.
We hope this newsletter to keep you updated on the latest legal news and be valuable to your operation.
Thanks for your reading and we would love to hear your comments that could make our reports better and better.
The most important changes that were introduced to the Russian Tax Code, accounting and audit law in 2015 and will come into force on January 01, 2016. recommendations about the latest transfer pricing practices as and taxation of interests for intra-group loans.
Rates of TDS or TCS and regular requirements under income tax ordinance and r...Masum Gazi
This document provides guidelines for tax deducted at source (TDS) and tax collected at source (TCS) requirements and other regular requirements under the Income Tax Ordinance and Rules of Bangladesh. It discusses the various types of income from which tax must be deducted or collected, when and how the deducted/collected amounts must be deposited, requirements for monthly statements and advance tax payments, and consequences for non-compliance. The guidelines are intended to help ensure proper compliance with Bangladesh's TDS/TCS and regular income tax obligations.
The Income Tax Appellate Tribunal (ITAT) is the highest appellate authority under the Income Tax Ordinance, 2001. It is appointed by the Federal Government and hears appeals against decisions of the Commissioner (Appeals). The ITAT consists of judicial and accountant members appointed by the Federal Government. It regulates its own procedures and decides appeals through benches, with decisions made based on majority opinion. A decision on a point of fact by the ITAT is final, while a decision involving a point of law can be referred to the High Court.
This document provides an overview of taxation, legal forms of business, social security, and labor law in Slovakia. It discusses Slovakia's location, capital, population, languages, currency, head of state, GDP growth, and membership in international organizations. It then summarizes corporate income tax rates, personal income tax rates, taxation of resident and non-resident companies, anti-avoidance rules including thin capitalization and transfer pricing, real estate investment, legal forms of business, social security contributions, and general labor law. Contact information is provided for tax and legal experts in Slovakia.
The document summarizes key changes to Oman's taxation laws effective in 2017. The main changes include an increase in corporate income tax rate from 12% to 15%, elimination of the tax exempt threshold of 30,000 Omani Rials, and expansion of withholding tax provisions to apply to dividend, interest, and service payments to foreign entities in addition to existing categories. A lower 3% tax rate is introduced for small businesses meeting certain criteria. Tax cards will also be implemented for all taxpayers.
Summary of the main changes to the Norms to the Fiscal Code in RomaniaAccace
Government Decision no. 1/2016 for the approval of the methodological norms for the application of the new Tax Code has been published in the Official Gazette no. 22 on 13 January 2016. As a general note, the newly published Norms bring more examples and details in order to clarify the provisions of the Fiscal Code applicable starting 1 January. We have summarized below the main amendments and clarifications introduced by the Norms, organized as the titles of the Fiscal Code.
A GST invoice is a document which will capture all the relevant details of a business transaction including information about both the parties. It will comprise the product name, description, quantity, details of supplier, purchaser, rate charged, discounts, terms of sale etc. Read more at
http://mastersindia.co/gst/gst-invoicing
The document summarizes the process for migrating existing taxpayers to the Goods and Services Tax (GST) system in India. It involves the following key steps:
1. Taxpayers obtain a GSTN login ID and password from the aces.gov.in website to complete the enrollment process on gst.gov.in.
2. Taxpayers complete the enrollment process on gst.gov.in by providing business and registration details as well as uploading required documents.
3. Upon successful submission, taxpayers receive a provisional GSTIN and final registration within 6 months if all information is verified correctly.
The document discusses the authorities under the Income Tax Act and their powers. It defines the various income tax authorities like Central Board of Direct Taxes, Principal Directors General of Income Tax, Income Tax officers and their powers. These include powers of discovery, inspection, summons, production of documents and issuing commissions. It also discusses the constitution and functions of the Central Board of Direct Taxes and the bifurcation of the tax boards in 1964. Finally, it mentions the provisions related to assessing officers, search and seizure operations and the functioning of Centralized Processing Centers.
The Kelkar-Shah Committee made recommendations for implementing GST in India in four stages:
1) Establishing IT systems to handle GST processes
2) Building the Central GST system
3) Obtaining agreement from states through political negotiations on a "Grand Bargain"
4) Interacting with states to bring them on board with the GST system
The Committee also recommended reducing customs duties gradually and replacing other indirect taxes such as excise duty and service tax with the GST over time.
- Прием на работу – материальные и процессуальные ошибки работодателей.
- Рейтинг ошибок работодателей при увольнении работников.
- Риски и сценарии конфликтных увольнений.
- Employment - financial and procedural mistakes
- Top list of employers’ mistakes in staff dismissal.
- Risks and scenarios of dismissal conflicts.
Youri Smakouz, Associate Director at Risk Advisory Group Russia, Eastern Europe and Eurasia, gave a general political and economic overview of the current Ukraine-related sanctions and concluded by expanding on their impact on the Russian economy and its investment climate.
Oleg Babinov, Head of Risk Advisory Group Russia, Eastern Europe and Eurasia, continued the presentation, giving an evaluation of prospects and predicting the most likely future scenarios for the current sanctions regime.
Accountor together with Vineyard organized a business breakfast on the theme: “NEW PERSONAL DATA LEGISLATION HAS COME INTO FORCE IN RUSSIA: WHAT ARE THE PRACTICAL IMPLICATIONS FOR FOREIGN COMPANIES?” in Helsinki on 15th of October.
Мы информируем наших читателей о самых важных изменениях российского законодательства: новое об организационно-правовых формах юридических лиц, другие важные изменения гражданского законодательства, новое о государственной регистрации компаний, новые положения об ООО, заемном труде, аккредитации представительств и филиалов иностранных компаний, практике получения разрешений на работу, и т.д.
This document provides updates to regulations regarding business trips in Russia from July 2015. It discusses situations where an employee returns from a business trip later than planned, travels using a personal vehicle, or takes an official vehicle. If an employee stays at the location of a business trip over the weekend without permission, extra days are not paid. Employees must provide documentation like receipts and maps when using a personal vehicle or taking an official vehicle. Accountor is an accounting, payroll and HR outsourcing company operating in Russia and Northern Europe that can provide more information.
The presentation introduced the changes to follow in 2015, for example changes and legislation related to branch office accreditation and commercial secrets as well as regulations related to foreign employees, working conditions and personal data processing.
Мы сравнили виды юридических лиц/ форм ведения бизнес для иностранных компаний в России (филиал, представительство, дочерняя компания (ООО), филиал 000) по следующему ряду параметров: общие сведения, регистрация, стоимость регистрации, требования к форме собственности, юридический адрес, активы, деятельность, обязательные корпоративные процедуры, отчетность, ответственность, учредительные документы, система управления.
27.10.2016 г. Семинар компании Аккаунтор и АО "Райффайзенбанк" на тему "Хеджирование валютных рисков и управление ликвидностью в России". Презентация Ильи Дулина, директора по продуктам казначейства АО «Райффайзенбанк».
27.10.2016 г. Семинар компании Аккаунтор и АО "Райффайзенбанк" на тему "Хеджирование валютных рисков и управление ликвидностью в России". Презентация Евгения Сумина, заместителя директора департамента бухгалтерского и налогового учета компании Аккаунтор.
27.10.2016 г. Семинар компании Аккаунтор и АО "Райффайзенбанк" на тему "Хеджирование валютных рисков и управление ликвидностью в России". Презентация Евгения Сумина, заместителя директора департамента бухгалтерского и налогового учета компании Аккаунтор.
27.10.2016 г. Семинар компании Аккаунтор и АО "Райффайзенбанк" на тему "Хеджирование валютных рисков и управление ликвидностью в России". Презентация Екатерины Лапшонковой, старшего вице-президента группы развития продуктов по управлению ликвидностью АО «Райффайзенбанк»
Transfer Pricing tax inspection: How to prepare?
- Transition period is finished!
- It is not just a fine of 5 000 RUR…
- Actions to take in 2014
- TP-documentation of the Group
- Identification of controlled transactions
- Comparability analysis: price or profitability?
- Tax recalculation based on market prices
- Notification of controlled transactions
- TP-documentation: choice of the method
- TP-documentation: comparable analysis of profitability
- TP-documentation: estimation of profitability
Презентация "Факторинг" на семинаре по хеджированию валютных рисков и управлению ликвидностью в России.
Марина Стешина, директор по факторингу АО «Райффайзенбанк», Андрей Захаров,
Старший вице-президент по факторингу АО «Райффайзенбанк»
- Что такое трансфертное ценообразование, и почему это важно для компаний с иностранным капиталом
- Как обосновать трансфертные цены и уберечь компанию от риска претензий со стороны налоговых органов
- Документация, обосновывающая трансфертные цены компаний
- What transfer pricing is, and why it is important for a foreign-owned company.
- How to justify the transfer prices and protect the company against the risk of claims from tax authorities
- Documents justifying the company’s transfer prices
The document is a digest summarizing legislative changes and recommendations for updating SAP ERP systems in Russia for the third quarter of 2015. It covers updates in the areas of human capital management, logistics, and finance. Key changes include a new form for property tax deductions, allowing deductions from the start of the year, quarterly personal income tax reporting beginning in 2016, and sick pay benefits for temporarily residing foreigners.
Newsletter - tax labour investment Grant Thornton Feb 2016longpn83
1) The document provides updates on recent tax, investment, and labor regulations in Vietnam. It includes changes to tax filing requirements, deductible expenses, foreign worker permits, and penalties for unpaid taxes.
2) New rules require companies to submit audited financial statements with tax filings and allow tuition fees for employees' children as deductible expenses. Foreigners can become chief accountants if they meet certification requirements.
3) Draft regulations would deny exit permits for individuals and hold back foreigner repatriation for those owing over $1 billion dong in taxes until paid. The deadline for personal income tax filings is March 30, 2016.
Accountor hosted another TaXmas event at the Embassy of Finland as it has been doing for already more than 6 years.
The first speaker, Olga Mazina, Head of Tax Consulting, talked about the taxation changes anticipated in 2017. Olga outlined the changes in the taxation of electronic services supplied by foreign providers, as well as the upcoming changes in transfer pricing and other significant changes in tax and accounting regulations.
This document summarizes key aspects of value added tax (VAT) in Russia. It discusses who is required to pay VAT in Russia, exemptions, tax rates, and what transactions are subject to VAT. The standard VAT rate is 18% and there is a reduced rate of 10% for certain goods like food and children's products. Imports are always subject to VAT which is paid at customs. Small businesses and participants in an innovation center project may be exempt from VAT obligations.
Since 2016 tax agents in Russia will become responsible for reporting the information on the calculated and withheld PIT amounts to the tax authorities on a quarterly basis.
The Romanian government has recently published the Government Ordinance no. 23/30.08.2017 (“GO 23/2017”) for introducing VAT split payment mechanism, as an anti-fraud measure. The implementation of the new VAT split payment mechanism will have a significant impact on the companies being VAT registered in Romania, such as increased administrative burden and cash flow impact, additional costs generated by changes in accounting information systems, additional bank charges and fees.
The purpose of this alert is to highlight the new requirements arising from the implementation of VAT split payment mechanism.
The document summarizes changes to VAT provisions in Romania's new 2016 Tax Code. Key changes include a reduction in the standard VAT rate from 24% to 20%, an expanded scope of reverse taxation to certain supplies of immovable property and electronics, and clarification of rules around abuse of rights and the right to deduct VAT. The new provisions also make technical changes to aspects like VAT adjustments, capital assets, and small business exemptions.
Through the Fiscal Bulletin sent on September 4, 2017, we announced the introduction of the VAT split payment mechanism by Government Ordinance No. 23/2017. After the Ordinance passed the Parliament approval through a law and the Approval Law was published in the Official Gazette, the VAT split payment mechanism has undergone major changes – in a positive way for most taxpayers.
We are informing our readers about the most important changes in Russian legislation: news on legal estate forms, other amendments to civil legislation, state registration of companies, LLCs, staff leasing, foreign branches and representative offices accreditation, work permits, etc.
HWC competence brochure - Tax & Accounting in UkraineSven Henniger
Specific of the Ukrainian Market
Accounting in Ukraine
Main Taxes in Ukraine
Start-Up Cost
International Payments
Payments in Foreign Currency
Corporate Profit Tax
Value Added Tax
Personal Income Tax
Unified Social Security Contribution
Military Tax
Simplified Taxation System (Single Tax)
Cash Payments
Foreign Currency Transaction
Licensing
Transfer Pricing
Personnel Administration
Options to Finance Ukrainian Subsidiaries
*10.2015
Slovakia: Grant Thornton Tax Newsletter December 2015Alex Baulf
Tax Newsletter including:
1. Summary of the most important changes in tax laws valid from 1 January 2016
1
2. Tax return as at 31.12.2015 – changes against the year 2014
3. Tax penalties from 1 January 2016
4. Changes in the Slovak VATAct from 1 January 2016
5. Whistleblowing
The deadline for declaring personal income tax for 2014 is coming. Foreigners who have derived incomes for the work in Russia have to make sure that they make their declaration in a timely manner.
Lawyer in Vietnam Oliver Massmann Legal Update November 2016Dr. Oliver Massmann
This document provides a legal update from Vietnam with summaries of 4 new regulations:
1. An official letter clarifies that enterprises can deduct credit card payments from taxes if they repay staff credit cards and expenses are allowed under company policy.
2. A new decree updates securities market penalties such as fines up to 250 million VND for money laundering violations and 10-400 million VND for failing to register transactions.
3. Minimum wages will increase by 7-7.5% in 4 regions of Vietnam from January 2017.
4. A circular provides guidelines for determining salaries in wholly state-owned companies under securities law, such as calculating average labor productivity based on revenue.
Updates on Profit Tax in Russia relevant to June 2015. The article was originally published: http://www.accountor.ru/en/news/2015/updates-profit-tax-russia-june-2015
We would like to remind you about the most important questions regarding Russian transfer pricing legislation for the year 2015 and the associated responsibilities of taxpayers.
Transitional provisions and CTD draft rules under GST in Indiasanjay gupta
Transitional provisions and rules notified in GST in India for migration and availing credits on stock in hand and draft rules for CTD ( Credit transfer document)
Well come to our newsletter in May. You will find that it is filled with legal regulations in certain areas of business. We hope this newsletter to keep you updated on the latest legal news and be valuable for your operation.
Thanks for your reading and we would love to hear your comments that could make our reports better and better.
This document summarizes key investment and tax information for Romania. It outlines that the Romanian currency is the New Leu, foreign exchange is generally permitted, and accounting standards follow the EU directives or IFRS. The main business entities are joint stock companies, general partnerships, limited partnerships, limited liability companies and branches or representative offices of foreign companies. Corporate taxes are levied on worldwide income for residents and Romania-source income for nonresidents at a rate of 16%. Notable exemptions include dividends and capital gains from qualifying subsidiaries. Withholding taxes apply to dividends, interest and royalties paid to nonresidents, though may be reduced under tax treaties. Anti-avoidance rules address transfer pricing and
Similar to Changes in the tax legislation of Russian Federation – summer of 2014 (20)
Pavel Antonov of Accountor Russia presented information on the growing Russian e-commerce market and legal considerations for cross-border internet sales to Russia. The Russian e-commerce retail market grew to 1.1 trillion RUR in 2017, with cross-border sales accounting for 37% or 420 billion RUR. Key laws in Russia relate to personal data protection, consumer protection, advertising, and intellectual property. Foreign companies targeting Russian consumers are advised to establish a subsidiary, representative office, or branch to be in compliance with domestic laws, which are enforceable against entities operating within Russia. Accountor Russia provides services related to government relations, consumer protection, events and analytics for the e-commerce industry in Russia.
1) This document discusses Russian VAT rules for cross-border internet sales and electronically supplied services (ESS) from Finland to Russia. ESS provided to Russian customers are subject to Russian VAT.
2) Foreign suppliers of ESS must register as a Russian VAT payer within 30 days and file and pay VAT quarterly. Russian app stores acting as withholding agents have similar obligations.
3) Educational services supplied over the internet to Russian customers are generally subject to VAT in Russia as the place of supply is where the services are physically performed.
Accountor hosted another TaXmas event at the Embassy of Finland as it has been doing for already more than 6 years.
The second speaker, Pavel Antonov, Head of Legal Department, talked about the latest court practice, giving an account of civil and tax disputes. Pavel chose the most relevant and interesting examples from the latest court practice and gave recommendations for foreign companies operating in Russia.
Accountor hosted another TaXmas event at the Embassy of Finland as it has been doing for already more than 6 years.
The third speaker, Olga Nazarenko, Chief Accountant, talked about the most effective ways to automate financial reporting and presented Accountor Reporting, our application for accounting and reporting. This tool allows accessing financial information anywhere from any device and provides clear reporting. All reports can be customized to meet any company’s needs. Accountor Reporting allows preparing financial statements faster and eliminates the risk of human error.
+ Трансфертное ценообразование в России: нормы и правила, действующие в 2016 г.;
+ Разъяснения налоговых органов, относящиеся к вопросам трансфертного ценообразования;
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The document summarizes recent changes to property tax regulations in Russia. It outlines rules for calculating property tax for property acquired during the year, exemptions for primary means funded by related organizations, and the ability of officials to exclude properties from tax assessed at cadastral value during the year. The document was produced by Accountor, an accounting and tax outsourcing firm operating in Russia and Northern Europe.
According to Chapter 33 “Trade Levy” of the Russian Federation Tax Code and Article 1 of the Law of the City of Moscow № 62 of 17.12.2014 “On the Trade Levy” (hereinafter referred to as the Law of the City of Moscow № 62), trade levy is being introduced within the territory of Moscow on July 1, 2015.
Foreigners living in Russia often ask us about some particularities with the legal system in Russia. Today we answer one of these frequently asked questions
When setting up a company in Russia, this raises a question about what options are available to finance an OOO (LLC) and what the benefits each brings. In our article we will attempt to explain the basics.
Civil, business, contract and corporate laws were significantly amended in 2015, and very important Supreme Court rulings have been issued. Both these new amendments and rulings will affect and shape all business structures in 2016.
A practical case study based on Accountor Russia’s experience of business processes review, optimization and internal management of changes. This presentation dispenses professional advice and tools which allow addressing complex and challenging issues that many companies face today.
This document provides a comparative outline of the types of business activity forms available to foreign companies in Russia, including branches, representative offices, subsidiary companies (LLCs), and branches of LLCs. It outlines the general information, registration requirements, fees, ownership structures, legal address needs, asset rules, permitted activities, reporting obligations, liability issues, governing documents, additional registration steps, and management rules for each of these business entity types.
In this article we are answering two frequently asked questions among our clients:
I. How to dismiss an employee in Russia? What are the methods of dismissal?
II. What method of dismissal is the most effective, least risky, and best avoids conflicts to the maximum extent possible, both within the Company and with judicial bodies; how is it possible to dismiss an employee in the shortest period of time?
Statutory audits are required under Russian law for joint stock companies, branches of foreign organizations, and companies with an annual turnover over 400 million RUB or a balance sheet total over 60 million RUB. Audits help companies detect financial misstatements, tax risks, regulatory violations, embezzlement, and fraud. While avoiding an audit has no penalty, it is not a good long-term strategy as it can lead to major problems being missed. Audits are conducted through sampling procedures to assess the accuracy of financial statements in a cost-effective manner.
The document provides information on new Russian VAT regulations:
1) Specified VAT returns must now include a "Correction number" field and indicate with 0s or 1s whether sections contain corrected data.
2) Companies can correct purchase/sales books using the "delta" method, entering only changed data, or "replacement" method, replacing all data.
3) Contractors must now pay VAT on travel expense compensation from clients.
Accountor together with Vineyard organized a business breakfast on the theme: “NEW PERSONAL DATA LEGISLATION HAS COME INTO FORCE IN RUSSIA: WHAT ARE THE PRACTICAL IMPLICATIONS FOR FOREIGN COMPANIES?” in Helsinki on 15th of October.
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This document briefly explains the June compliance calendar 2024 with income tax returns, PF, ESI, and important due dates, forms to be filled out, periods, and who should file them?.
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Receivership and liquidation Accounts
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Business law for the students of undergraduate level. The presentation contains the summary of all the chapters under the syllabus of State University, Contract Act, Sale of Goods Act, Negotiable Instrument Act, Partnership Act, Limited Liability Act, Consumer Protection Act.
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सुप्रीम कोर्ट ने यह भी माना था कि मजिस्ट्रेट का यह कर्तव्य है कि वह सुनिश्चित करे कि अधिकारी पीएमएलए के तहत निर्धारित प्रक्रिया के साथ-साथ संवैधानिक सुरक्षा उपायों का भी उचित रूप से पालन करें।
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San Remo Manual on International Law Applicable to Armed Conflict at Sea
Changes in the tax legislation of Russian Federation – summer of 2014
1. 1
Changes in the tax legislation of Russian Federation – summer of 2014
We are informing our readers about the most important changes in Russian legislation: news about VAT,
corporate income tax, news in labor legislation, etc.
1. LABOR LEGISLATION: SPECIAL ESTIMATION AND IMPROVEMENT OF WORK CONDITIONS.
Amendments to the Labor Code of RF are introduced by the Federal Law of 28.12.2013 No 421-FZ.
According to the legislation (Federal Law of 28.12.13 No 426-FZ) all companies are obliged to conduct special
estimation of work conditions every 5 years. This procedure is performed by specialized companies. Special
estimation has also be conducted within 6 months after the following occasions:
1. creation of new work places;
2. receipt of prescription of state labor inspector;
3. change in technology, change of production equipment;
4. change of composition of used materials and/or resources;
5. change of safety means applied individually and collectively;
6. accident or professional disease in the company.
Based on the results of special estimation of work conditions work places have to be classified. Depending on
the classification of work places rate of additional social contribution (0-8%) is fixed.
Employer has to declare in its web-site results of special estimation of work conditions within 30 days after the
approval of the report on special estimation.
Since 08.06.14 upon results of special estimation of work conditions companies have to declare safe work
places. Declaration consists of 1 page; within 1 month after the approval of report on special estimation
declaration has to be submitted to the State Labor Inspection.
Since 1.1.15 company may be fined in case if it does not conduct special estimation or valuates the rules
established for this procedure: amount of fine equals to 60 000 – 80 000 RUR.
Also in the absence of special estimation of work conditions incomes of employees which are entitled for early
retirement pension (employees with harmful conditions of work) are subject to additional social contribution (4-
6% of salary in 2014, 6-9% of salary in 2015).
Changes introduced in the new edition of the Order of Minsocrazvitia of 01.03.2012 No 181n:
Since 8.7.14 standard expenses for improvement of work conditions may include costs for sport-events (i.e.
fitness). According to the Labor Code of RF employers are obliged to incur such expenses in amount of not less
than 0,2 % of total production costs. For violation of this requirement of legislation company may be fined up to
50 000 RUR.
2. VAT
Amendments introduced in the Federal Law of 20.04.14 No 81-FZ:
Since 01.07.14 sale of the object of real estate is liable to VAT since the moment when the object is accepted by
the buyer; there is no need to wait till the state registration of ownership for the sold object.
2014_09_25
News
2. 2
Since 01.01.15 taxpayers are not obliged to keep registers of received and issued facture-invoices.
Amendments introduced in the Federal Law of 21.07.14 No 238-FZ:
Since 01.01.15 agents, forwarders and developers are obliged to keep registers of facture-invoices and include
data of these registers in the VAT-declarations.
In case if the mentioned entities are exempt from taxation, they will be obliged to submit to the tax office register
of received and issued facture-invoices concerning agent activity in the electronic format.
Since the 1.10.14 companies are not obliged to issue facture-invoices to customers which are not payers of
VAT (e.g. customers applying simplified system of taxation, customers paying Singe Tax on Imputed Income,
customers exempt from VAT, etc.). This should be fixed in the agreements with such customers.
Supreme Arbitration Court of RF issued clarifications which should be used in litigations for cases concerning VAT
(Resolution of SAC of RF of 30.05.2014 No 33). Among the clarifications there are the following:
Recoverable VAT may be declared and deducted at any moment within 3 years after the receipt of facture-invoice.
In case if the agreement does not specify amount of VAT, it should be considered that sums in the agreement are
defined including VAT; VAT should be calculated at the rate of 18/118 applicable to the sums in the agreement.
Advance given in non-monetary form, including offset of obligations between the parties, is liable to VAT at the
moment of receipt (in the same way as monetary prepayment).
Marketing materials given to the buyers (gifts, leaflets, etc.) are not liable to VAT in case if they do not have
specific features of goods and cannot be used by the receiving party for other purposes.
3. CORPORATE INCOME TAX.
Changes are introduced in the Federal Law of 20.04.14 No 81-FZ.
Since 1.1.15:
• The term “sum difference” will not be used. All differences resulted from settlements under the agreements
obligations in which are set in foreign currency (e.g. EUR) are called “currency differences” regardless of the
currency of payment (foreign currency or RUR). Taxation of currency differences for agreements concluded
before 1.1.15 will be taxed in the currently effective order.
• Loss from cession of debt to the 3rd party, which occurred after the agreed deadline for payment, shall be
recognized for the purpose of income tax calculation at once - at the moment of passing of a debt. Now and
till 1.1.15: such a loss is accounted in 2 parts: 50% -at the date of cession, 50% - after 45 calendar days
after cession.
•
Letter of Federal Tax Service of RF of 17.07.2014 No GD-4-3/13838@ “About accounting for negative currency
differences”:
According to the opinion of Federal Tax Service negative currency differences resulted from re-estimation of
obligation for the payment of dividends in foreign currency can be recognized as tax-deductible costs at the
calculation of corporate income tax.
4. PROPERTY TAX.
Changes are introduced in the Federal law of 02.04.14 No 52-FZ.
Since 1.1.15 companies which pay Single tax on Imputed Income or apply Simplified System of Taxation are not
exempt from property tax in respect of objects for which property tax is calculated based on the cadastre value
(e.g. administrative business and shopping centers, commercial and industrial premises used for offices, retail
facilities, facilities used for catering and consumer services that are included in the list of such objects approved
by local authorities).
3. 3
Accountor St. Petersburg
Shpalernaya Ul. 54
191015 St. Petersburg
+7 812 325 82 94
spb@accountor.ru
Timo Sivonen
Executive Director
+7 981 720 60 09
timo.sivonen@accountor.ru
Accountor Moscow
Sadovnicheskaya nab. 79
115035 Moscow
+7 495 788 00 05
moscow@accountor.ru
Samuli Pesu
Deputy CEO
+7 926 710 4361
samuli.pesu@accountor.ru
5. TAX CONTROL
Resolution of the Plenum of the Supreme Arbitration Court of RF of 30.07.2013 No 57; Letter of the Federal Tax
Service of Russia of 22.08.2014 No CA 4-7/16692:
In case if tax agent (i.e. company paying income to a foreign entity) failed to withhold tax from such payments, tax
authorities may collect proper amounts of tax and also penalties for the delay of payment from this tax agent.
6. CASH TRANSACTIONS
Changes are introduces in the Notification of Central Bank of Russia of 11.03.14 № 3210-U.
Since 1.6.14:
• Companies of small business and entrepreneurs are not obliged to set a limit balance of cash.
• Entrepreneurs are not obliged to keep cash book and prepare cash documents.
• Directors of the companies are not obliged to sign warrants for spending of cash.
7. BANK OPERATIONS
Changes introduced in the Federal Law of 28.06.13 No 134-FZ:
Since 1.7.14 tax authorities have the right to require notifications and information from banks regarding bank
accounts and deposits of companies, entrepreneurs and also physical persons. Such requirements to banks are
possible not only in case of tax checks of mentioned companies, entrepreneurs and physical persons, but also in
frame of tax checks of other taxpayers.
Changes based on Instruction of Bank of Russia of 30.05.14 No 153-I:
Since 1.7.14 signatures in bank cards are not classified as the 1st and the 2nd signatures, but have the same
priority. Companies still may have the single signature (by agreement with the bank); maximum amount of
signatures is not limited.
8. CURRENCY CONTROL
Based on the Information issued by Federal Service of Financial and Budgetary control “About salary payment to
physical persons – not-residents of RF”
Companies – residents of RF cannot pay salary to physical persons – not-residents of RF in cash, because such
an option is not permitted by Russian currency legislation.
* The articles and information in this newsletter are provided as general guidelines and may be subject to change. They are not intended to act as a
replacement or substitute for professional advice. You should contact our Accountor advisors to discuss any actions you may wish to take based on the
information included in this publication. Accountor disclaims any responsibility for actions taken on this information alone.