Chet Bowling: “Doing business in Russia: it’s important to understand how things work here”

IMG_13386 - compressedDespite the difficult political and economic situation, foreign companies are not losing interest in Russia. After all, the Russian market offers not only high risks, but also great rewards for those who succeed.

Chet Bowling, who has worked in Russia for many years and is managing partner and co-founder at Alinga Consulting Group, speaks about the peculiarities of doing business in Russia for foreign companies, taxation, and the market for outsourcing business processes. He also gives several valuable recommendations to foreign executives at Russian companies. Continue Reading

Due Diligence: A Service from Alinga Consulting Group

Due Diligence is an essential tool for checking the financial condition of a company and determining the degree of tax risks that it may carry. When a company is purchased, the purchaser becomes its legal successor. The purchaser may be held liable, even criminally liable, for any substantial obligations revealed by future audits.

When purchasing a company, a wise investor will evaluate the deal in terms of cost and risk, including financial and tax risks. Due Diligence is a tool that helps investors determine and assess these risks. Continue Reading

Deoffshorization


 

Deoffshorization

And How Alinga Consulting Group Can Help

By Peter Arnett
Partner

 

 

Russia’s new “deoffshorization” law is part of a concerted effort by governments around the world to regulate and tax the income and gains diverted to tax havens by businesses and individuals.

By 2018 Russian authorities could be receiving information, previously secret, about shareholdings and beneficial ownership in countries around the world, including from some of the favorite low-tax jurisdictions.

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Russia’s Foreign Workers

Even as a good number of westerners working in Russia’s financial markets are packing their bags and heading home as lay-offs sweep that industry, foreign workers as a whole make up a large percentage of the Russian work force and are likely to remain a strong presence in Russia due to demographic and economic pressures. Continue Reading

When Accounting Interferes With Getting the Job Done


When Accounting Interferes
With Getting the Job Done

By Yulia Mazur
Partner, Head of Accounting

 

 

Yulia Mazur holds a degree from the Ryazan State Radio Technical Academy in Accounting, Financial Control, and Business Analysis. She has advised the Ryazan Duma on tax legislation on several occasions.

With more than ten years experience, Yulia has worked as a chief accountant for construction, entertainment, and retail companies. She has been with Alinga for more than five years.

Ms. Mazur is a Certified Professional Accountant.

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Storing Personal Data In Russia. Questions Without Answers

As this publication is going to print, a new law, which comes into force on the first of September, 2015, will mandate that the personal data (PD) of Russian citizens be stored only in Russia. Or maybe it doesn’t. Or maybe it does, but not only in Russia. Or maybe not stored. Let’s try to understand.

The law was passed unexpectedly. Further, it was approved not in a version that matches the opinion of Russia’s relevant agencies and its business community. According to some unofficial comments, the Act targeted major Internet companies, such as large social networks and search engines, who hold and own a vast array of information about Russia’s citizens. Initially the law’s purpose, as announced, sounded quite noble and necessary – to ensure that every citizen of Russia, in providing their personal data, would be able to demand the data’s deletion. To do this, every citizen must be able to call upon the controller of the personal data, and so this data should be in Russia and there should be a Russian address to which a request for deletion can be made. Continue Reading

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