Although the Russian accounting principles are now mainly based on IFRS there is some difference between accounting and tax reporting rules in Russia. The Russian tax authorities consider that any transaction has to be confirmed by a specific justifying documents, and any deductible expenses has to be directly linked to the business of the company and also confirmed by a proper document. For example, you may not book an already paid invoice for consulting services unless you collect from the service provider a signed and stamped act of rendered services and, and may not set off the paid VAT against the incoming VAT unless you receive the original VAT invoice (shet-factura) from the other party. Therefore, we work tightly with our clients to ensure their compliance with the Russian accounting and tax reporting standards.

We provide a full range of accounting and tax reporting services across Russia since 2007. We prepare and file electronically all mandatory accounting, tax and statistical reports for your business in Russia. Our services:

  • Day-to-day accounting recordkeeping;
  • Accounting system design;
  • General ledger maintenance;
  • Monthly and year-end closing assistance;
  • Accounts reconciliations;
  • Petty cash reports processing;
  • Depreciation schedules;
  • Accounting software assistance;
  • Customization of accounting systems for client-specific needs;
  • Selection of the most optimal operation scheme in view of tax consequences;
  • Tax reporting and compliance including corporate profit tax, assets tax, VAT, land tax, transportation tax and personal income tax returns;
  • Financial statement preparation;
  • Tax returns for entities with simplified tax regime and regular VAT regime;
  • Financial reviews for management;
  • Production of various analytical reports across business segments and regions;
  • Bank account set-up and payments handling;
  • Representation of clients before the Russian tax office;
  • Assistance with VAT off-sets;
  • Transfer pricing control;
  • Reports for the company headquarters under the client standards;
  • Enforcement of double tax treaties provisions in respect to dividends, interests and royalties;
  • B2B Electronic document interchange.