Finance, Tax & Accounting

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• May 27, 2016 by Russia Briefing
  

  Russia’s National Debt to Remain Lowest in Europe

  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[…..]
• May 24, 2016 by Russia Briefing
  

  Russia’s Central Bank to accredit Hanoi based BIDV to promote comradeship with Vietnam

  By Marina Romanova Russia’s central bank accredited Bank for Investment and Development of Vietnam (BIDV) to be country’s first financial representative on the Russian market, Vietnamese and Russian media reports. “It is important not only for the bank itself but for the future cooperation between Russia and Vietnam,” TASS quote Dmitry Skobelkin, a central bank deputy governor,[…..]
• June 18, 2015 by Russia Briefing
  

  VAT in Russia

  By Yuriy Zarya, IT Project Manager and Thomas Titsch, Director ERP SCHNEIDER GROUP VAT and Profit tax return in SAP Russian legislation obligates companies to provide the VAT return in a specific format. As it undergoes frequent changes, it adds a lot of complexity to statutory filing in Russia. SAP provides its clients with preconfigured solutions for clear[…..]
• June 15, 2015 by Russia Briefing
  

  Russian Accounting Aspects in ERP Implementations

  By Thomas Titsch, Director ERP SCHNEIDER GROUP Western companies should be aware of Russian accounting aspects when implementing ERP. In the last, the Russian understanding of enterprise planning was accountant driven and to some extent this remains. In order to understand Russian aspects in ERP implementations, you need to look at the aspects of the[…..]
• June 14, 2015 by Russia Briefing
  

  IFRS Reporting from SAP & 1C in Russia

  By Oleg Galiulin, Senior SAP Expert and Yuriy Zarya, IT Project Manager SCHNEIDER GROUP Choosing an ERP System Currently, all international companies have to prepare their financial statements according to both International Financial Reporting Standards (IFRS) or Generally Accepted Accounting Principles (GAAP), and local reporting standards of the countries they work in. In addition, the[…..]
• June 13, 2015 by Russia Briefing
  

  SAP Solutions for Sales and Logistics for Russia

  By Albina Safina, Senior SAP Expert SCHNEIDER GROUP SAP software solutions help companies to improve the efficiency of enterprises in Russia and to respond operatively to changes in the requirements of legislation in Russia. SAP rapidly develops procedures and documents required under the new regulations. The country version of SAP for Russia provides standard statutory print documents required for different business processes:[…..]
• August 26, 2014 by Russia Briefing
  

  Legal Framework: What do Russia’s Sanctions Really Mean?

  By Helge Masannek In March 2014, the EU and the United States introduced sanctions against certain Russian and Ukrainian persons as a reaction toward Russia’s role in the Crimea crisis. European “Regulations concerning restrictive measures in respect of actions undermining or threatening the territorial integrity, sovereignty and independence of Ukraine” included economic sanctions, asset freezes[…..]
• August 21, 2014 by Russia Briefing
  

  Q&A: Certification and Import in the Russia – Kazakhstan – Belarus Customs Union

  1. I’m working with a Russian business partner who is a member of the Customs Union and they are asking me to sign extra documents. Why? From the perspective of your Russian partner, the tax code requires that completed works and services be evidenced by signed “acts” as these are the primary documents used to[…..]
• August 20, 2014 by Russia Briefing
  

  Import of Goods Between Affiliate Companies in the Russia – Kazakhstan – Belarus Customs Union

  By Bettina Wisthaler While for imports between non-related companies, the invoice is usually sufficient as the main source for the calculation of the customs value. But for imports between affiliated companies, customs require additional confirmation of the value of goods. This is due to the fact that in the past, parent companies often tried to[…..]
• August 18, 2014 by Russia Briefing
  

  VAT Procedures in the Customs Union

  By Paul Sprague Very often, cross-border transactions present obstacles for foreign companies due to cumbersome legislation, a lack of clarity on what should be done and how to account for the transaction in the accounting system. The following is some practical advice on how to navigate VAT transactions in the Customs Union.