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AMENDMENTS WERE MADE TO THE STATE DUMA ON THE RETIRED MEMBERS OF THE BOARD OF DIRECTORS OF A JOINT-STOCK COMPANY OR LLC

The Government of the Russian Federation has proposed 7 conditions that may cause a member of the Board of Directors or supervisory board of an LLC or JSC to be recognized as retired. The relevant bill has been submitted to the State Duma. Among the circumstances proposed in the draft law are the following: bankruptcy; restriction or deprivation of legal capacity; disqualification; own solution; deprivation of the right to hold certain positions or engage in specific activities; death. Also, the...

AMERICAN EXPRESS BANK IS BEING LIQUIDATED

American Express Bank (a subsidiary of American Express Company) decided to liquidate instead of selling the business. The corresponding application for liquidation was submitted to the Unified State Register of Legal Entities. At the end of 2022, American Express Bank was on the list of credit institutions that are prohibited from transactions with shares ...

THE CENTRAL BANK: COMPANIES HAVE INCREASED DEMAND FOR LOANS

Last month, the demand for loans from legal entities increased, the banking sector portfolio grew by 1.8% in March, the Bank of Russia said. The central bank also clarified that loans were taken mainly by oil and gas, transport and construction organizations. One of the reasons for the increase in demand is the need to pay large taxes, such as income tax and additional income tax for 2023, VAT for the fourth quarter of 2023. Companies took out loans in rubles more often (+2%). The dispute on foreign...

VKUSVILLE ACQUIRED THE ANDERSON FAMILY CAFE CHAIN

Grocery retailer Vkusville has bought out the AnderSon family cafe chain founded by Anastasia Tatulova. The entrepreneur reported this in her telegram channel. "From today, AnderSon is part of the ecosystem of the Vkusville company, which has become 100% owner of the brand and the underlying assets," Tatulova wrote. As the entrepreneur herself recalled, the network of family cafes under the leadership of Tatulova has worked for 14 years. According to Kommersant, the main assets of the...

TRADE UNIONS ASK TO LIFT THE MORATORIUM ON INSPECTIONS OF ENTREPRENEURS

Chairman of the Federation of Independent Trade Unions of Russia (FNPR) Mikhail Shmakov sent a letter to the head of the Government of the Russian Federation Mikhail Mishustin, in which he asks for the lifting of the moratorium on business inspections. According to Shmakov, in connection with the introduction of the moratorium, the protection of the rights and freedoms of citizens of the Russian Federation in the labor sphere has become difficult, since this measure has limited ...

THE FEDERAL FINANCIAL MONITORING SERVICE WILL BEGIN TO MONITOR LARGE WRITE-OFFS FROM THE ACCOUNTS OF ENTREPRENEURS

From August 29, 2023, the Federal Financial Monitoring Service will monitor the write-off of more than 5 million rubles from the accounts of legal entities and individual entrepreneurs. The measure will last until August 28, 2025. The corresponding order of the federal service will apply to those entrepreneurs who received funds from the federal budget during the year. The measure will also apply to cases where finances within the operation are transferred in favor of a recipient belonging to...

BALANCE OF INTERESTS OF THE FEDERAL TAX SERVICE AND THE TAXPAYER? WE DEALT WITH THE TAX DUEL

Businesses often have difficulties in working with tax authorities, especially during tax audits. The possibility of requesting documents outside the audit and conversations with taxpayers at tax commissions, as well as the lack of a definition of certain ...

EXCESS PROFIT TAX : EXPECTATION AND REALITY

... committee has set a deadline for submitting feedback and proposals until June 28, 2023, that is, the legislator intends to hold the bill through at least 1 review, which indicates interest in its rapid adoption. At the same time, representatives of the business community and a number of departments still have objections to the need to introduce an emergency tax, at least in the form in which it is currently presented. In addition, some sources observe the presence of certain procedural inconsistencies ...

Putin: RUSSIA'S GDP MAY GROW BY 1-2% IN 2023

Russian President Vladimir Putin said that Russia's GDP could grow by 1-2% in 2023. At the same time, according to him, the world economy will continue to slow down next year. "I would like to note that the Russian business community is actively operating in modern economic realities, and I would like to thank once again the managers and teams of companies and organizations who have done a lot to overcome the severe consequences of illegitimate sanctions," ...

THE RUSSIAN UNION OF INDUSTRIALISTS AND ENTREPRENEURS CALLED FOR FINALIZING THE DETAILS OF THE PROJECT ON THE EXCESS PROFIT TAX

... in 2018-2019. Profit is determined according to tax accounting data. The rate is set at 10%. The tax itself must be paid by January 28, 2024. As Alexander Shokhin explained to RBC, there are uncertainties in the current project that carry risks for business. According to the RSPP, the shortcomings of the bill are related to the following issues: - The norms allowing to pay the tax in 2023 in the format of a security payment at an effective rate of 5 are vaguely formulated. There is a risk of paying ...

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