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B2B Electronic Document Interchange

Published: May 2014

In this issue of Russia Briefing we describe the international experience pertaining to electronic document interchange (EDI). EDI has revolutionized accounting work in Russia. We also provide an overview of the legal framework pertaining to EDI in Russia and illustrate the reasons to convert to EDI. Next we explore some technical aspects of EDI implementation and explain a few of the best practices in EDI implementation. Finally, we touch upon issues of electronic document interchange security.


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Customs Union, Certification and Import

Published: February 2014

In this issue of RUSSIA BRIEFING, we take a close look at the import and export procedures into, out of, and within the Russia, Belarus and Kazakhstan Customs Union. We then look at the current situation one year after Russia’s WTO accession. Next we look at issues of product certification and VAT procedures in the Customs Union. Finally, we explain the processes involved with the import of goods between affiliate companies.


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Are You Targeting the Right Candidate?

Published: September 2013

This issue of Russia Briefing focuses on providing businesses with an accurate understanding of Russian labor laws and how to find the best employees. We also illustrate how to organize work processes to make the best use of your existing staff resources and show how to further increase staff efficiency, how to correctly describe job duties/responsibilities, how to find and select the right people, and how to legally employ and properly train them.


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Russia's Accounting Revolution

Published: September 2012

In this issue of Russia Briefing, we look at Russia’s accounting “revolution”: the new Law on Accounting. First, we look at the key points of the new law, including a flow diagram for automatic document exchange, examples of an acceptance protocol document, a VAT Faktura Invoice, and a free format accounting document. Next, we paint a profile of Russian accountants and define the characteristics that modern accountants should have. Finally, we address the question of what’s left to do in 2012 to prepare for the new Law on Accounting.


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Payroll and Employment Law

Published: March 2012

In this issue of Russia Briefing, we open with a business outlook for Russia in 2012. We then move into an in-depth study of payroll processing in Russia, which aims to help businesses navigate the rules-based bureaucracy they will encounter. We then cover the processes involved in employing and paying employees in Russia, focusing on salary calculation and reporting, personnel administration, employment law, and social security. Finally, we cover potential pitfalls and provide advice for handling payroll in the CIS countries.


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The Russia-Belarus-Kazakhstan Customs Union

Published: November 2011

In this issue of Russia Briefing, we assess the implications of the Customs Union of Russia, Belarus and Kazakhstan on trade, looking broadly at the principles and progress of the union thus far. We also attempt to clarify the key modifications to the VAT procedures for transactions involving the three member states.


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Russian Market Entry - the Business Outlook and Your Options

Published: May 2011

In this issue of Russia Briefing, we discuss why now is the time for you to consider investment in Russia and consider what the future holds for the Russian economy. We then attempt to help simplify the decision of what form of entry establishment to use: Representative Office, Branch, or Subsidiary?


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Understanding Russian Accounting Principles

Published: November 2010

In this issue of Russia Briefing, we compare Russian accounting standards with the U.S. Generally Accepted Accounting Principles (GAAP). We also examine how revenue is handled, how to structure a transformation from Russian accounting principles to U.S. GAAP, and the industry and business specific differences between the Russian and U.S. accounting systems. Finally, we cover the growing trade opportunities between China and Central Asia, focusing on the newly formed special economic zone in the Xinjiang border town of Yili.


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Establishing Business in Russia

Published: April 2010

In this inaugural issue of Russia Briefing magazine, we seek to introduce you to the complexities of doing business in Russia. We provide a brief overview of the economic factors that are affecting the country. We then go into a deeper analysis of how to set up your business in Russia and discuss what form that business should take, as well as how to find financing. Next, we look at Russia’s taxation system and its related accounting regulations. Finally, we take a look at some of the major infrastructure projects taking place in the country and update you on important business developments that could affect your operations.



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