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• 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:[…..]
• March 2, 2015 by Russia Briefing
  

  Product Certification According to TR CU – Key Date

  On March 15, 2015 the transition period for several Technical regulations of the Customs Union comes to an end.  Technical Regulation of the Customs Union Decision as of   TR CU “On the Safety of Low-Voltage Equipment” (TR CU 004/2011)  16.08.2011  TR CU “On Safety of Machinery and Equipment” (TR CU 010/2011)  18.10.2011  TR CU “On[…..]
• February 4, 2015 by Russia Briefing
  

  URGENT Changes to the Accreditation of Branch and Representative Offices in Russia

  A Branch or Representative office of a foreign company is a common way to establish a business presence in Russia. The main advantage is that money can be transferred freely between the head office and the Russian office. Of course, there are many other advantages and a few disadvantages which should be considered as well.[…..]
• 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.
• August 13, 2014 by Russia Briefing
  

  News on Product Certification Legislation in the Eurasian Customs Union

  By Bettina Wisthaler The technical regulations are definitions of standards which establish the characteristics of products and their production processes in terms of quality, security, technical requirements, etc. The new legislation has been established to replace the old GOST standard which no longer reflects the requirements of modern production and industry. The so called GOST[…..]
• August 11, 2014 by Russia Briefing
  

  Modern Import Tools in the Eurasian Customs Union

  By Bettina Wisthaler In the last decade, the Russian Federation and afterwards the Customs Union, tried to develop the procedure of customs clearing and to promote a much faster, less bureaucratic and transparent alternative to the common paper format. The beginning of the new era was set in 2002 with the law “On the electronic[…..]