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In the Russian Federation there are existing some special laws and regulations related to bookkeeping, tax accounting and HR.

The best way to get information regarding the tax system or the structure of tax authorities in Russia will be to visit the Website of Federal Tax Services (in English)
Here you can find informative articles in English and information regarding laws, start of business etc.

Quite informative too is the website of the Ministry of Finance of the Russian Federation(in English)

All tax accounting is based on tax registers. Tax registers are creating based on information accumulated by accounting department. Bookkeeping in Russia is regulating by the Federal Law N 402-FZ “About bookkeeping” dating from 06.12.2011.

Tax accounting and bookkeeping usually have some differences. If it is needed companies can have accounting in accordance with IFRS or USA GAAP standards, but it is not recommended to replace accounting in accordance with Russian standards. Last years there were a lot of changes to the better in tax system and accounting regulations. And even as the new requirements are more transparent, to avoid risks we recommend you not ignore local specifications.

The HR system in Russian Federation is regulated by the Labor Code. But there are exist a lot of requirements for HR administration. List of documents and requirements is quite long and to have all of them is the must. The effect of mistakes in HR administration can be very painful. Presence or absence of one simple list of paper could cost company millions of rubles in case of trial with employee for example, or bring General Manager of the company to administrative or criminal liability, because in the Russian Federation a General Manager is personally responsible for HR questions.

We would be glad to provide you with consultancies regarding all questions you can have and help you to have very successful and safe business in Russia
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Last update: 2014-10-01

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