International Transactions Commence For Alternatives To SWIFT Russia’s System For Transfer Of Financial Messages (SPFS) has gone global this week with the introduction of the system into banks in the Eurasian Economic Union. SPFS is an alternative to the US backed SWIFT network of financial transactions, which has been used in the past to cut[…..]
Russia’s 18 percent tax refund on items purchased in Russia (on the provision of a receipt) worth more than Rubles 10,000 (US$170) kicked in on January 1, 2018. The system is in force in the most popular tourist destinations, and will roll out across Russia from October 2018.
Applying for tax exemptions and incentives in Russia should be part of the pre-investment strategy, as successful applications impact upon the overall business plan. Seeking professional advise to find out what incentives and tax breaks can positively impact your investment in Russia.
Russia and China have agreed to establish a US$10 Billion Russia-China RMB Cooperation Fund following last week’s meetings between the two leaders in Moscow. The article discusses the latest move strengthening their bilateral partnership.
By Dezan Shira & Associates Russia Desk Each legal entity or foreign company operating in international markets knows that effective management and correct financial administration are key to successful business operations. Audit is an independent inspection of bookkeeping and financial reporting aimed to provide a professional report on its accuracy.
2016 has been a year of hard work and effort on behalf of Russia, beset by sanctions from the EU and US, and globally mired in bad press and media coverage. No matter what it does – from fighting Isis and terrorism in Syria to being accused of influencing the American election results, Russia is often[…..]
The Comprehensive Double Taxation Agreement (CDTA) between Hong Kong and Russia entered into force on 1st January this year in Russia, with Hong Kong following on 1st April this year. Signed at the beginning of 2016, the CDTA aims to provide greater certainty on taxing rights between Hong Kong and Russia, incentivizes foreign investment with[…..]
Numerous amendments to the Russian Tax Code came into force on 1st January, mostly related to the issuance of Russian Federal Law 401.FZ dated 30th November last year, which introduced some new concepts and clarified the existing taxation rules. The most important changes that may have impact on foreign investors are outlined as follows: Third Party Tax Payment Permitted[…..]
By Marina Romanova Tallinn, Riga and Almaty had drown ahead Moscow to emerge as current Eastern Europe and Central Asia top financial centers, according to the latest Global Financial Centres Index (GFCI) rankings released this Monday by London-based consultancy firm Z/Yen and Long Finance. The former capital city of the Republic of Kazakhstan scored 605[…..]
By Marina Romanova Russia’s share in a world’s national debt is the smallest in Europe, but its foreign-currency debt is the second high among emerging economies. The Visual Capitalist, infographic data web site, has counted that the combine global national debt or world public government debt is amounted in 2015 to as much as US59,7[…..]