Information

Dear Clients!

CB “Euro-Asian Investment Bank” LLC announces of a new section “Information”. In the section you can find an overview of the legislative acts of the Russian Federation and monetary policy in the financial markets, explanations on the application and use of regulatory documents, practical advice on filling out orders.

08.05.2018 Changes in exchange regulation!

From May 14th came into force legislative amendments regarding to the Law on Currency Regulation and the Code of Administrative Offenses of the Russian Federation. They oblige residents to inform banks about the exact, but not the expected maximum deadlines for the receipt of revenues or goods. The amendments also allow for the blocking of more transactions and impose penalties for company officials

What is new in processing transaction documents:

Import export contracts must specify the time limits for which each party will fulfill its obligations.

The bank will need to be informed about these exact terms rather than about the expected maximum timeframe for the receipt of money or transferring the accomplished under the contract as it is now.

In addition, the company will be obliged to notify the bank of the terms of the return of advance payments which it transfers to a non-resident.

Loan agreements with non-resident borrowers also need to be specified regarding the deadlines for the fulfillment of obligations, but the bank will continue to report the expected paying back period.

What can be the cause of blocking transactions:

Banks may refuse to process transactions basically for any violation of currency legislation.
At present, there are two causes for refusal:

— in case of failure to submit documents requested by a bank;

— in case of submitting unreliable documents;

On May 14th, the following reasons are added:

— residents violate the provisions of the Law of Exchange Regulation, of their own obligations, of transactions against each other, of the use of accounts in foreign banks
— in case of submitting documents that do not meet the requirements of the law.

A bank informs on the refusal in advance not later then the next business day after taking such action.

What penalty charges may occur.

The following responsibility set On May 14th, for official representatives of entities:

– for arranging illegal currency transactions;

– failure to comply with the requirement of repatriation of money for goods, works, services transferred to a non-resident;

– non-return of prepayment, if the resident has not received goods, work, services.

Until May 14th , penalties for the listed violations are subject to be submitted against the organizations, as well as SP only avoiding individuals.

The amount of penalty for each violation – from 20 thousand up to 30 thousand rubles. If a similar offense is committed during the penalty period, the court has the right to disqualify the official representative for a period of six months to three years.

FEDERAL TAX SERVICE INFORMATION

A DECLARATION CAMPAIGN-2018 IS BEING CONDUCTED IN RUSSIA

It is necessary to submit a declaration of income received in 2017 until May 3rd, 2018.
It is necessary to submit a declaration of income received in 2017 until May 3rd, 2018.

It is necessary to report on income in case in 2017 a taxpayer sold an apartment that had been owned less than the minimum period of ownership, received expensive gifts not from close relatives, won the lottery, rented property or received income from foreign sources. (Article 228 of the Tax Code of the Russian Federation)

Report on their income should also individual entrepreneurs, notaries involved in private practice, lawyers established lawyer offices and other persons. (Article 227 of the Tax Code of the Russian Federation)

It is necessary to pay personal income tax, calculated in the declaration until July 16th, 2018
In case a taxpayer does not submit the declaration before May 3rd or does not pay the tax on time, it becomes a subject of penalties.

The penalty for failure to submit a declaration on time equals 5% of the amount of tax not paid on time for each month, but not more than 30% of this amount and not less than 1,000 rubles. Penalty for not paying personal income equals 20% of the amount of unpaid tax.

The deadline for filing a declaration on May 3, 2018 does not apply to receiving tax deductions. In this case, you can send the declaration at any time during the year.

On the confirmation of the status of the tax resident of the Russian Federation in the electronic service.

FEDERAL TAX SERVICE INFORMATION

From January 16th, 2018 has been launched electronic service of the Federal Tax Service of Russia “To confirm the status of a tax resident of the Russian Federation”.

You can register in the service using e-mail or providing TIN with a password from the personal account.

The service allows individuals, individual entrepreneurs and legal entities quickly form an application and receive documents in PDF format confirming the status of a tax resident of the Russian Federation. In such event, the user only needs to send an application, additional documents are optional. In order to obtain a document confirming the status of a tax resident of the Russian Federation, on paper when forming an application, it is necessary to mark the field “send the document in hard copy”.

It is also possible to track the status of the application review from the moment of its registration with the Federal Tax Service of Russia

With the help of the service it is also possible to track in real time the status of the application review from the moment of its registration with the Federal Tax Service of Russia.

The document confirming the status of the tax resident of the Russian Federation has a unique verification code, which is automatically generated for each document. With this code in the special section of the service called “All concerned parties” you can check whether a document confirming the status of the tax resident has been actually issued.

In 2017, the Federal Tax Service of Russia issued more than 32,000 documents confirming the status of the tax resident of the Russian Federation, which is 6% more than in 2016 and 14% than in 2015. Electronic service will significantly simplify the procedure for taxpayers to confirm their tax status. In addition, now, tax agents and competent authorities of foreign countries will be able to verify the confirmation of the status of a tax resident of the Russian Federation via the Internet using a verification code.

The service has been developed in accordance with sub-clause 16 of clause 1 of Article 32 of the Tax Code of the Russian Federation and Order of the Federal Tax Service of Russia of 07.11.2017 N MMV-7-17 / 837 @ “On approval of the application form for submission of a document confirming the status of a tax resident of the Russian Federation, confirming the status of the tax resident of the Russian Federation, on the order and format of its submission in electronic form or on paper. ”

26/03/2018 The Bank of Russia decided to reduce the key rate by 25 b.p., up to 7.25% per annum

The Board of Directors of the Bank of Russia on March 23, 2018 decided to reduce the key rate by 25 b.p., to 7.25% per annum. Annual inflation remains at a consistently low level. Inflationary expectations are gradually decreasing. According to the forecast of the Bank of Russia, annual inflation will be 3-4% at the end of 2018 and will be close to 4% in 2019. In these circumstances, the Bank of Russia will continue to reduce the key rate and complete the transition to a neutral monetary policy in 2018.
Information on the Bank of Russia website: http://www.cbr.ru/

Dear Clients!

Due to the entry into force of the Federal Law of 30.11.2016 No. 401-FL, article 45 of the Tax Code of the Russian Federation amended, it is allowed third parties pay taxes, fees and insurance premiums for organizations, individual entrepreneurs or individuals.

From the provisions of the restated version of Article 45 of the Tax Code of the Russian Federation, it follows that from December 30, 2016, third parties can pay any taxes and fees for organization, individual entrepreneurs or individuals:

  • Value Added Tax (VAT)
  • Excises
  • Personal income tax (Personal Income Tax)
  • Income Taxes
  • Mineral extraction tax
  • Water tax
  • State fee
  • Unified Agricultural Tax (UAT)
  • United tax for “simplified tax” (UTST)
  • “Patent” tax (FAS)
  • United tax on imputed tax (UTIT)
  • Corporate property tax
  • Tax on gambling business
  • Transport tax
  • Land tax
  • Personal property tax
  • Trading fee

The Directive from 05.04.2017 No. 58n amends the Rules for specifying information in the details of orders to transfer money to pay the State revenue of the Russian Federation, approved by the Directive of the Ministry of Finance of Russia on 12.11.2013 No. 107n.

Now therefore, when paying taxes for another person in the “ITN” and “RRC” fields of the payer, it is necessary to indicate the taxpayer’s “ITN” and “RRC”  on behalf of the tax is being paid.

If there is no “ITN”, then this field indicates zero (“0”), and in the field “Code” – the unique identifier of the charge (document index).

The “RRC” field of the payer is filled in when paying the tax for a legal entity. When executing the duty to pay tax for an individual, “zero” must be indicated in this field.

When filling in the “Payer” field, you must provide information about the person who issued the payment order.

The Tax Code does not contain any restrictions on the part of the set of persons who are entitled to pay taxes and fees for taxpayers. Therefore, various options are possible:

  • The organization can pay taxes and fees for another organization, individual entrepreneur or individual;
  • an individual entrepreneur can transfer taxes and fees for another individual entrepreneur, organization or individual;
  • an individual has the right to pay taxes and fees for another individual, organization or entrepreneur.

Dear Clients!

We bring to your attention some changes and additions to the Directive of the Ministry of Finance of Russia of July 1st, 2013 N 65n “On approval of the Instructions on the procedure for the application of the budget classification of the Russian Federation” in the version of 13.02.2017.

322 1 13 02030 01 0000 130 – Income received in the order of reimbursement to the federal budget of expenses aimed at covering procedural costs.

322 1 15 01010 01 0000 140 – Executive fee.

322 1 16 21010 01 0000 140 – Monetary penalties (fines) and other amounts collected from persons guilty of committing crimes and compensation for damage to property, transferred to the federal budget.

322 1 16 17000 01 0000 140 – Monetary penalties (penalties) for violation of the legislation of the Russian Federation on the court and the judiciary, on enforcement proceedings and judicial fines

* KKKK – code of the group of sub-types of budget revenues, can have the following indexes:

  • 1000 – the amount of payment (recalculations, arrears and arrears for the relevant payment, including the canceled payment);
  • 2100 – penalty on the relevant payment;
  • 3000 – the amount of monetary penalties (fines) for the relevant payment in accordance with the legislation of the Russian Federation
Budget classification code
322 1 15 01010 01 KKKK 140Execution fee

To get acquainted with the full text of the Directive, please visit the web-site of the ConsultantPlus.

Dear Clients!

According to  the letter of the Bank of Russia No. IN-017-45 / 8 of 30.01.2017 “Information letter on codes of classification of budget revenues of the Russian Federation administered by the structural subdivisions of the Bank of Russia and details of payment orders”, in connection with the abolition of the Department for Licensing Activities and Financial Recovery credit institutions of the Bank of Russia, the Central Bank of Russia in the Central Federal District brings information about the codes for classifying the incomes of the budgets of the Russian Federation and the types of income corresponding to them, administrated by structural subdivisions of the central office of the Bank of Russia, as well as details for filling out payment orders by credit institutions, other legal entities and individuals,more specifically:

– codes for classifying the incomes of the budgets of the Russian Federation and the types of income corresponding to them that are credited to the federal budget

(annex 1 to the letter), starting from 1 February 2017;

– the code of classification of budget incomes of the Russian Federation and the type of income corresponding to it, credited to the budget of the city of federal significance of Moscow, starting from February 6, 2017.

  Requisites of the Office of the Federal Treasury

 Codes of classification of incomes of budgets of the Russian Federation

Dear Clients!

Bank of Russia in the Central Federal District announces the change in the numbers of personal accounts opened by the Moscow Department of Finance in the Moscow Office 1 from July 04, 2016.

Dear Clients!

В соответствии с п.5.1 ст.23 НК компании должны подключиться к электронному документообороту с налоговой инспекцией и заключить договор с операторами:

“5.1. A person who belongs to the category of taxpayers obliged in accordance with clause 3 of Article 80 of this Code to submit tax returns (calculations) in electronic form must not later than 10 days from the day of occurrence of any grounds for referring this person to the specified category of taxpayers to ensure receipt of documents that are used by tax authorities when executing their powers in relations regulated by legislation of taxes and dues, from the tax authority at the place of registration in electronic form over telecommunication channels through the operator of electronic document management “

 Tax agency e-document management

CB “Euro-Asian Investment Bank” LLC brings to your attention LETTER FROM THE MINISTRY OF FINANCE OF THE RUSSIAN FEDERATION of July 8, 2015 No. 02-07-07 / 39464 in the manner of disclosing in the BUDGET THE OPERATIONS OF THE REMMITANCE WAGES TO THE PAYROLL ACCOUNTS WITH BANK CARDS of EMPLOYEES

  Accounting transactions of wages to employees bank cards

Dear Clients!

CB “Euro-Asian Investment Bank” LLC brings to your attention LETTER FROM THE MINISTRY OF FINANCE OF THE RUSSIAN FEDERATION of March 6, 2014 No. ED-4-2 / ​​4116 @ on compliance with the procedure for conducting cash transactions.

“The procedure of conducting cash transactions with banknotes and coins of the Bank of Russia on the territory of the Russian Federation for the purpose of organizing cash circulation on the territory of the Russian Federation is defined in Bank of Russia Regulation No. 373-P of 12.10.2011” On the Procedure for Conducting Cash Transactions with Banknotes and Coins of the Bank of Russia on the territory of the Russian Federation “.

In the Appendix “Determination of the cash balance limit” to the Regulation of the Bank of Russia No. 373-P it is established that the cash balance limit is determined in rubles. At the same time, the order of rounding the limit of the cash balance in Bank of Russia Regulation No. 373-P is not defined.

In this behalf, the Bank of Russia in Letter No. 36-3 / 1876 of September 24, 2012 explained that in order to round off the limit of the cash balance to the one ruble, it is appropriate to apply the rules of mathematical rounding.

Taking into account the above, in case of following the procedure of operating with cash and following the procedure of  conducting cash transactions established by the Bank of Russia, there is no administrative offense.

At the same time it is reported that according to paragraph 25 of the Regulation on Accounting and Accounting in the Russian Federation, approved by Directive of the Ministry of Finance of the Russian Federation of 29.07.1998 N 34n, accounting of assets, liabilities and business transactions may be kept in amounts rounded to the whole of rubles . The resulting amount differences are related to financial results of a commercial organization or an increase in revenue (cost reduction) from a non-profit organization.

Payments to State revenue

Samples of document completion

Cash circulation

 Reminder of electronic funds