MOORE ST ESTABLISHES CRISIS TASKFORCE
For the Moore ST team, the well-being and prosperity of our clients is always of paramount importance. So, whatever issues you may be facing, we are here to help. To this end Moore ST has established a special Crisis Taskforce Talking about the taskforce, Elena Tikhnenko, Chair of Supervisory Board, said, “Our team includes lawyers, corporate structuring specialists, international tax experts and, of course, people with experience of a broad range of industries. We are monitoring legal and political developments on a daily basis and are actively helping clients find tailored solutions to the challenges they face.”
MOORE ST LEAVES THE MOORE GLOBAL NETWORK
Leading Russian auditing and consulting firm, OOO Moore ST announced today that it has left the Moore Global network. Chair of the Supervisory Board, Elena Tikhnenko, said,
Climate change in shipping
Last week headlines around the world were dominated by the COP26 summit in Glasgow and statistics about greenhouse gases. Governments were making pledges whilst the biggest emitters, both countries and industries, were being singled out for criticism. Shipping is firmly in the sights of policy makers. Many would say rightly so as the world’s fleet of 100,000 vessels produces about three percent of global greenhouse gas emissions.
Law No. 236-FZ on Operation of Foreign Entities in the Internet in the Russian Federation has come into force since 1 July 2021. The new law has been non-officially called the “law on IT companies landing". Now all foreign companies whose activities in the Internet are aimed at Russia must formalize their presence in Russia.
DRY BULK MARKET: WHAT NEXT
It is no secret that the shipping market, like the tide, is cyclical - when demand exceeds supply, freight rates rise and when the reverse applies, the opposite is true. It is also no secret that vessel prices follow freight rates meaning shipowners can profit by buying as prices are going up and selling before they fall. The difficult part is knowing when the tide is about to turn. There is never a shortage of commentators giving their opinions. Now, after a 16-month surge, more so than ever. But, are those who say the tide is turning correct?
Date: 17 september 2020 10:00 (GMT +3)
Countries-participants: Cyprus, Malta, The Netherlands, The UK, Ireland, Switzerland
PREPARING FOR LISTING
The official listing process will normally be initiated at a kick off meeting where the company’s representatives and their chosen advisors agree a listing timetable and start the due diligence process that confirms the company is in fit shape to become a publicly traded entity. However, a well organised company will already have been working towards this event, probably for at least three months and quite possibly for six or more.
WHERE TO LIST - SELECTING AN EXCHANGE
One of the first decisions a company contemplating a listing must make is where to list. Today there are literally hundreds of possible choices. Reputable exchanges exist all over the world and many exchanges now offer two or more possible markets each targeting slightly different participants and investors. This range of choice exists precisely because what is right for one company may not be for another. Although decisions must be tailored to your circumstances, the factors to consider are fairly standard and include the following:
In this three part series, Maxim Sobokarev, looks at the current and future impact of COVID-19 on the global mining sector and answers the question – might current conditions offer nimble companies a chance to steal a march on their competitors by planning for a listing? And, if they do, what should CEOs and CFOs be doing to capitalise on the opportunity?
Amid the global economic crisis caused by the COVID-19 pandemic, the Government of the Russian Federation has put in place anti-crisis measures aimed at supporting business, including:
If you do business in other countries, it could be important to consider how Coronavirus disruption affects your business contracts. Clearly we are in unprecedented times and a lot of events, activities and parts of normal day to day life will be cancelled due to the Coronavirus.
A FUTURE FOR CYPRUS COMPANIES?
Events in recent years have made it increasingly difficult and expensive to operate Cypriot companies. Many businesses are now asking if there is a future for them in international corporate structures. Here we try to answer that question.
Options and ways to go during the pandemic
No sector or industry of international business has been immune to the unfolding pandemic of Covid-19 so far. Parties involved in cross-border transactions, global entities...
PLANNED TAX TREATY CHANGES
On 25 March the President of the Russian Federation announced measures intended to increase the revenue received by the Ministry of Finance from payments of dividends and interest to foreign entities.
Personal data in the ERA of COVID-19
Coronavirus continues to make significant adjustments to our life.
Interaction patterns are rapidly changing resulting in new risks. We are on the verge of large changes in our personal data.
Moore ST would like to share with you an update on recent measures taken by the Russian government in response to the COVID-19 epidemics.
Here you can find detailed information about the Government aid program that aims to help mitigate the negative impact the epidemics has caused to Russian businesses.
We do care about you and your business.
From January 2020, significant changes in the currency legislation of the Russian Federation came into force. The rules for transactions with foreign accounts of residents permitted by the currency legislation have changed.
From now on, money can be credited without restrictions if the account is opened in banks in the EEU member states or foreign countries that carry out automatic exchange of information with Russia. This applies to dividends, interest on securities and other types of deductions.
Maria Volkova became an equity partner in Moore ST
Moore ST is delighted to announce that on 1 January 2020 Maria Volkova became an equity partner in the firm.
On 2 December 2019 the Russian President signed the Federal Law dated 02.12.2019 #405-FZ “On introducing amendments to certain legislative acts of the Russian Federation” (Federal Law “FZ #405”).
This law has introduced substantial changes to Russian personal data protection laws. Now companies may be fined in the amount between RUB 1 million to RUB 6 million for non-compliance with requirements of the Federal Law “On personal data” in respect of the data bases localisation requirements. For repeated violations of the above requirements fines may vary from RUB 6 million to RUB 18 million.
The maximum amount of sanctions for an individual are RUB 800 000.
By adoption of FZ #405 the Russian authorities have not just imposed harsher sanctions for non-compliance with data bases localisation requirements but they have also introduced a number of other special amendments that tighten up the responsibility for non-compliance with Russian laws on personal data protection.
For more details, please contact us.
On September 30, 2019, the President signed the draft Federal Law N 720839-7 “On Amendments to Parts One and Two of the Tax Code of the Russian Federation” (hereinafter - the Bill) that introduces a number of amendments to the Tax Code of the Russian Federation (hereinafter - the RTC or the Russian Tax Code).
We are delighted to inform you about major amendments to the Tax Code of the Russian Federation. Most amendments will come into force starting from 2020.
For any questions please do not hesitate to contact us. We will be happy to provide you with professional support.
The annual Moore ST Conference «Moving Forward Together» took place in Georgia from 9 to 13 September 2019. Directors, managers, auditors and partners of Moore Global network’s member companies of the Eurasian region as well as representatives of other audit firms that are considering partnership with Moore Global, were invited to participate in the Conference. Anton Colella, CEO of Moore Global, became a guest of honour at the Conference this year. He gave a presentation under the theme “The future of Moore Global network”.
MOORE: Helping you thrive in a changing world
From today, Moore Stephens Russia relaunches our brand to become «MOORE ST». This is part of a wider rebrand of the Moore Stephens global accountancy and consultancy network, of which Moore Stephens Russia is a member. The unveiling of a new logo, visual identity and brand positioning marks the continued evolution of an international network of more than 260 independent firms in 112 countries and a client-focused professional community of more than 30,000 people.
Tax update_Moore Stephens Russia
We are glad to announce the issue of Tax update for June 2019.
Russia has captured 31st place in the World Bank’s 2019 Ease of Doing Business ratings. This achievement, four places above 2018, marks a continuing trend of steady improvement over recent years. It places the country just below Spain and just above France as a place to do business.
The development of closer relations between Japanese and Russian companies and the result of negotiations between Russian President Vladimir Putin and Japanese Prime Minister Shinzo Abe laid the foundations for the signing of a new Double Tax Convention between Russia and Japan.