In recent years, Russia has focused on regulating its IT area. In particular, this has been needed due to the increasing number of cases, when prohibited information has been distributed on various large Internet resources, such as a social network. However, according to Russian government agencies, despite the risks of possible sanctions, many foreign companies still do not respond quickly enough to government requests, or ignore the demands to remove prohibited information ...
Dear Sir or Madam,We would like to inform you that in October 2016 significant changes in Russian labour legislation will come into force. The changes are as follows:Salary payment terms are specified. Salary shall be paid not later than 15th day of the month following the assessment one. Rate of interest for pay pause has increased. The rate of interest has increased twice: from 1/300 of the key interest rate to 1/150 ...
New Law No 125-FZ amending regulation of overtime and part-time work was signed by the Russian President earlier this year (hereinafter – the “Law”). The Law went into force on June 29, 2017. Highlight below is the most important novelties introduced by the Law. Part-Time Work The parties of labour relations may now agree on any length and frequency of an employee’s working hours ...
In the light of the current geopolitical situation, including severe counter sanctions and restrictions imposed by the Russian Government, we would like to provide you with an update on the current IP regulation in Russia. Partial legalization of parallel imports On 29th March, the Russian government issued a Decree No ...
Dear All, ALRUD Law Firm hereby informs that the amendments introduced to Arbitrazh procedural code in accordance with Federal law as of 02 March 2016 No. 47-FZ “On the amendments to APK RF” (hereinafter referred to as – “Law”) will come into effect on 01 July 2016. The Law remains in line with the general trend on reduction of arbitrazh (state commercial) courts workload and speeding up arbitrazh proceedings ...
Let us draw your attentionthat Russian legal entities are obliged topossessinformation about their ultimate beneficial owners (hereinafter the “UBO”) in accordance with para.1art. 6.1 of the Federal Law No. 115-FZ “On prevention the legalization (laundering) of proceeds of crime and financing of terrorism” ...
In light of the sanctions imposed, ALRUD experts have prepared an Overview of Russian Counter-Sanctions measures that have been taken in response to the actions of unfriendly countries since 24 February 2022. The overview focuses on: Russian counter-sanctions measures Liability Prospects for foreign business Recent trends in litigation and arbitration Assumptions and limitations The review is updated on an ongoing basis. Follow the link to learn more ...
In light of the sanctions imposed, ALRUD experts have prepared an Overview of Russian Counter-Sanctions measures that have been taken in response to the actions of unfriendly countries since 24 February 2022. The overview focuses on: Russian counter-sanctions measures Liability Prospects for foreign business Recent trends in litigation and arbitration Assumptions and limitations The review is updated on an ongoing basis. Follow the link to learn more ...
On 7 October 2022, Federal Law No. 377-FZ (the “Law”) came into force. The Law granted mobilized citizens and their family members the right to receive preferential payment holidays on loans (including mortgages). Follow the link to learn more. Newsletter_Payment_holidays_for_mobilized_citizens.pdf (alrud ...
On July 1st 2021, the Russian President signed a draft law on amendments to the Russian Civil Code, establishing the possi-bility of creation of a new type of non-commercial organization - a personal foundation- from March 1st 2022.Purposes of using personal foundationsThe personal foundation will become a new asset planning instrument, after the detailed legislation comes into force ...
In the context of COVID-19 pandemic, the field (on-site) tax audits in Russia are currently postponed, but once all restrictions are lifted, the tax authorities can start auditing Russian companies and replenishing the National Budget by redoubling their efforts. The pharmaceutical industry could be in the focus of the tax authorities and, above all, they could start with auditing of the contractual structures used for organizing clinical trials and promotion of pharmaceutical products ...
Position of Russian Federal Tax Authorities in respect of currency control regulation August 29, 2017 Dear Ladies and Gentlemen, This is to inform you that Federal Tax Authority of the Russian Federation published the Letter no. 3-H-3-17/5523@ dated July 16, 2017, in respect of the position regarding legitimacy of transactions of Russian residents on their foreign bank accounts which were not declared to the local tax authorities (the “Letter”) ...
Starting from February 2022, the President of Russia has adopted several decrees restricting conclusion and performance of transactions involving foreign entities and individuals. In most cases such transactions now require approval from a special governmental commission. Today the Russian Ministry of Finance published draft law No ...
Spring is a busy period in terms of corporate governance. It involves the computations, confirmations and conclusions related to the results of the previous financial year, when the following decisions are needed among others: Approval of annual reports and annual financial statements; Election of a new Board of Directors; Election of an internal Auditor and/or members of internal Audit Commission; Approval of company’s external auditor ...
Earlier this year the Federal Law " On Amendments to Articles 1252 and 1486 of the 4th part of the Civil Code of the Russian Federation and Articles 4 and 99 of the Arbitrazh Procedural Code of Russia" entered into force.The amendments relate to pre-trial procedure for resolving intellectual property disputes.1 ...
The Ministry of Labour has prepared a draft law providing for protection of persons informing of corruption offences ...
In the light of the current geopolitical situation, including severe counter sanctions and restrictions imposed by the Russian Government, people working in Russia and abroad may face new risks in their work and personal life. We would like to provide you with the general guidance to minimize such risks. Follow the link to learn more. Download file We hope that the information provided herein will be useful for you ...
On 13th August, Federal Law dated 13.07.2020, No. 210-FZ specifying the procedure and establishing new rules of severance payments, in case of dismissal due to liquidation of the organization, or redundancy, comes into force.In case of the dismissal due to the organization’s liquidation, all payments shall be made to employees prior to its completion ...
As a part of a reform of Russian data protection laws, Roskomnadzor adopted new rules for ban or restriction of cross-border transfer of personal data outside of Russia. Roskomnadzor may decide to ban or restrict cross-border transfer of personal data in the following cases: After the consideration of a data controller’s notification on cross-border transfer of personal data; Upon the motion of a competent authority to Roskomnadzor ...
Beginning on January 1, 2017, the State Labour Inspectorate has begun checking presence of the information on results of special evaluation of working conditions on employers’ official websites. Employers shall post on their official websites information concerning results of performed evaluation and the list of proposed actions on improvement of employees’ working conditions ...
On December 8th, 2020, The President of the Russian Federation signed the Federal Law, introducing the new rules for remote work (hereinafter the “Law”). This Law will come into force from January 1st 2021. Here is a brief summary of new rules: i. New types of temporary remote work In accordance with current labour legislation, an employee and employer can conclude a remote employment contract only on a permanent basis ...
Since February 2022, Russia has adopted a number of regulations that aim to restrict real estate transactions involving persons/entities from certain foreign states. Such transactions require specific governmental approval prior to their conclusion. Further regulation has provided a number of exceptions to the previous prohibitions ...
****Dear Ladies and Gentlemen,**** We would like to update you on recent precedent-setting judgements by Russian courts in matters involving foreign businesses that decided to leave Russia. On 17 October 2023, the Arbitrazh court of Moscow city sustained the claim by Russian bank PJSC Sovkombank against Citibank N.A. (a US company) and its Russian subsidiary JSC KB Citibank concerning the joint recovery of US$24m in losses1. On 21 December 2023, an appeals court upheld the judgement ...
A significant, temporary measure for 2022 has been introduced into the Russian merger control procedure, which may affect the regulatory approval process, in many M&A transactions, and might be specifically relevant for Management Buyouts. On July 14th, 2022, the Federal Law No. 286-FZ came into force ...
Russia has significantly revised its arbitration laws by adopting two Federal Laws (hereinafter referred to as “Arbitration Laws”)1, which came into effect on September 01, 2016. The main aim of the arbitration reform in Russia was elimination of so-called “pocket” arbitration institutions and improvement of overall quality of arbitration process in Russia ...
