Doing business in Russia 2021

Up-to-date insights about the Russian economy and tax system as well as an overview of forms of business and accounting rules that potential investors are looking for.

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Get the full version of the Doing business in Russia guide in pdf format.

 

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This guide has been prepared by EY Russia to give the potential investor an insight into Russia and its economy and tax system, provide an overview of forms of business and accounting rules and answer questions that frequently arise for foreign businesses.

Russia is a fast-developing country and is committed to improving the investment climate and developing a better legal environment for doing business. On the one hand, this makes doing business in Russia an attractive prospect; on the other, it can make for difficult decisions both when starting a business and further down the line.

EY provides assurance, tax, legal, strategy, transactions and consulting services in 150 countries and employs over 300,000 professionals across the globe, including 3,500 employees in 9 offices in Russia.

EY possesses extensive, in-depth knowledge of Russian realities and is always ready to come to the assistance of first-time and experienced investors alike.

Our guide contains information current as at March 2021 (except where a later date is specified).

Inside the guide you will find the following information:

  • General Business Information: the Russian legal system, the financial system, currency control, competition law, licensing, data protection and privacy, regulation of the digital sphere, sanctions and restrictive measures
  • Tax System: tax rates and penalties for late payment and tax filing violations, corporate profits tax
  • Real Estate Transaction Costs and Taxes
  • Tax Control
  • Value Added Tax (VAT)
  • Corporate Property Tax
  • Other Taxes: excise duty, transport tax, mineral extraction tax, additional income tax on hydrocarbon production, other taxes and duties
  • International Taxation Matters
  • Deoffshorization” Measures
  • Tax Treatment of Company Reorganizations
  • Customs
  • Transfer Pricing
  • Investment Promotion Measures
  • Offshore Oil and Gas Developments
  • Financial Reporting and Auditing
  • Individuals: personal income tax, immigration, social security, Russian labor law.

In Appendices you can find useful addresses and telephone numbers, exchange rates (as of year’s end), treaty withholding tax rates, blacklist of jurisdictions approved by the Ministry of Finance, blacklist of jurisdictions approved by the Federal Tax Service (states and territories), and compliance calendar.

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Tax Code

Taxation in Russia

Inside you will find the latest version of the Russian Tax Code which was revised on 31 of July 2020 and is effective from 1 October 2020.

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