The norms for daily and accommodation allowances for Russian employee business trips have been increased with effect from 1 August 1995.
(Amendments N 75 to Letter N 61 of the Ministry of Finance)
Pension Fund Contributions / Individual Entrepreneurs
The Supreme Arbitration Court has issued a letter clarifying that where a company reimburses an individual entrepreneur for works performed under a civil law contract, both the company and the entrepreneur are liable to make contributions to the Pension Fund.
(Letter of Russian Federation Supreme Arbitration Court N C1-7/O_-470 dated 15 August 1995)
Accounting / Filing of Consolidated Accounts
For 1995 and subsequent financial years, in addition to filing individual company accounts, Russian companies are required to file annual consolidated accounts reflecting the results of subsidiaries, including those located abroad, in which the parent company has more than a 20% shareholding. The accounts should be filed with the Tax Authorities annually by 25 April following the accounting year.
(Order of the Ministry of Finance N 81 dated 28 July 1995)
Legal developments are reported in Tax News Reporter on official publication. This may be long after the law is issued.
This publication is intended for general guidance only and should not form the basis of specific decisions.
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