The State Duma has adopted a series of amendments to the Russian Tax Code, marking a significant shift in the country’s taxation policies. The new measures, which took effect on 1 January 2025, aim to increase revenue while introducing a progressive framework for personal income taxes. The amendments are expected to have long-term implications for […] The post Russia Approves Sweeping Tax Code Changes to Raise Revenue and Streamline System first appeared on Awara ..read more

A partnership agreement is concluded every few years for a certain period between the Moscow Government, Moscow trade union associations and Moscow employers’ associations (for example, there were agreements for 2022-2024 and 2019-2021). On December 31, 2024, an invitation to join the Moscow Trilateral Agreement for 2025-2027 (hereinafter referred to as the “Agreement”) was published […] The post Moscow Trilateral Agreement for 2025-2027 Has Been Signed first appeared on Awara ..read more

Organizations and sole proprietors applying the Simplified System of Taxation (SST) will be recognized as VAT payers from 2025 (para 1 of Article 143, paras 2, 3 of Article 346.11 of the Tax Code of the Russian Federation). However, the obligation to pay VAT from 2025 arises if the income recognized in the tax accounting for the previous year […] The post How will taxes for organizations and sole proprietors using the Simplified System of Taxation (SST) change in 2025? first appeared on Awara ..read more

We remind you that starting on January 1, 2025, the tax rates on corporate income tax will change by virtue of Federal Law No. 176-FZ dated 07/12/2024 “On Amendments to Parts One and Two of the Tax Code of the Russian Federation”. The main innovations affect, among other things, the corporate income tax. At the […] The post New Corporate Income Tax Rates Beginning in 2025 first appeared on Awara ..read more

On November 1, 2024, a bill on the legalization of mining will come into force. Previously, cryptocurrency mining activities were not regulated in any way. It is expected that the innovations will help businesses to bypass sanctions and affect the development of exports of high-tech equipment. Who is allowed to engage in mining? In order […] The post Law on Mining in Russia first appeared on Awara ..read more

With Russia-China relations at a high in 2024, according to Bloomberg about 40% of Russia’s imports and exports are completed in Chinese yuan, a stark increase from nearly zero at the start of 2022. With a $240 billion trade value between Russia and China in 2023, further business development of Chinese entrepreneurs in Russia is to […] The post The Russia-China Payment Challenge. How to Facilitate Cross-Border Transactions in 2024? first appeared on Awara ..read more

Starting from January 1, 2025, a five-stage progressive personal income tax scale with a maximum rate of 22% will come into effect. Each of the new rates will not apply to the entire income, but only to the amount exceeding the threshold level of the previous level. Please find below the applicable rates and income […] The post From January 1, 2025, a Progressive Personal Income Tax Scale with a Maximum Rate of 22% Will Come into Effect first appeared on Awara ..read more

Keeping military records in the company is nothing new. Until October 2023, fines for improper maintenance of such documentation were modest, and inspections were rare. Now fines have increased significantly, and attention to documentation has been intensified. Therefore, Awara recommends checking how this process is organized in your company. Who is obliged to keep military […] The post Fines for Errors in Maintaining Military Records of Employees Have Increased first appeared on Awara ..read more

We have prepared a brief guide for foreign investors on opening a company (LLC) in Russia. In the article we draw attention to the required documents, the choice of company participants and organizational procedures. Founders / Owners/Shareholders According to legislation, an LLC can be established by individuals or legal entities, but the following conditions must […] The post How to Open a Company (LLC) For a Foreign Business in Russia: What Documents Will Be Needed and Other Important Points first appeared on Awara ..read more

What are the options, and why are they needed? Under Russian corporate law, it is possible to conclude “call” and “buyback” options for ownership in a limited liability company (LLC). These transactions represent a fast and convenient way to transfer ownership in an LLC and can significantly reduce legal and economic risks. Currently, options are […] The post “Call ” and “Buyback” Options for Ownership in a Company. Why These Instruments Might Be of Interest to Russian and Foreign Businesses. first appeared on Awara ..read more