State Duma has enforced amendments to legislation that will oblige all merchants with annual revenue over 40 mln RUB to accept “MIR” payment cards from October 1, 2017. Until now, only merchants with revenue over 120 mln RUB were obliged to accept payment cards apart from cash.

In the near future, the new version of the Customs Code of the Eurasian Economic Union will come into force, whereby Branches of foreign organizations will be allowed to import goods only for their own needs. This change will limit commercial activity of Branches.

Before March 2017 State Labour Inspection had the right to plan inspection of a company no more often than once every three years.

Now legal entities and individual entrepreneurs will be audited basing on risk category assigned and inspections will be made with the following intervals:

On April 11, the members of the Eurasian Economic Union have signed an agreement regarding the new EEU Customs Code. The most significant features of the new Code are as follows:

If an employee decides to leave the company, he has a right to cancel his dismissal application not later than 2 weeks before dismissal. In this case the employee has the right to stay unless a new candidate has already received a written job offer for this position.

Almost every company in its business cycle faces the need for an employee to work on a day-off or holiday. It requires a special payment scheme and supporting documents.

Many employers often give presents to their employees on holiday occasions. However, it is not widely known that proper documenting allows to avoid social charges on such incentives.

For this, it is necessary to settle a gift contract with employee.

Sberbank, together with an electronics retailer M.Video, have completed the testing of a joint factoring automation project involving blockchain technology.

Within this project, the retailer and its suppliers have implemented a distributed data storage system, which allows for uploading, verifying and storing of all information about shipments. The data is subsequently used by  “Sberbank Factoring” to retrieve all  the data necessary to finance its suppliers.

In organizations with foreign workers from visa-free countries double taxation often takes place. This happens because effectively personal income tax is paid to the budget twice:

•    By the employer at the rate of 13% of worker’s income;
•    By foreign worker himself in the form of monthly patent payments.

Foreign worker is not allowed to transfer the obligation to pay patent fees on the employer, but the worker can reduce his income tax.

As part of the campaign against dishonest commercial counterparties, the following tax information about every company will appear on the Tax Service’s web site on July 25:

- Debts in respect of taxes, penalties, fines

- Liabilities of the company and its management incurred in respect of the statutory breaches

In 2016 at a meeting with business community Vladimir Putin promised to consider the issue of increasing the limit for opening a passport of deal for currency transactions. Now this limit is $ 50,000, and entrepreneurs asked to raise it up to $ 100,000. The Central Bank made a compromise decision - $ 75,000.