Services

Full Russian Reporting Comliance

When selecting an outsourced Accounting company in Russia, you are intrusting your business to people who you know will represent your interests. Very often in this country there appears a conception that people work for the Tax Authorities. We understand, however, that we work for the shareholders of our clients. Additionally, no client of EMG has ever suffered fines or penalties due to our accounting mistakes.*

Simply stated, we act as your Chief Accountant as defined under Russian accounting rules and regulations. (Our abilities to carry out these functions are granted through a Power of Attorney).

Our responsibilities include:
Russian Reporting

• Preparation and submission of all required tax filings to the State Tax Bodies;
• Calculation and payments to the State Budget and Funds;
• Preparation of quarterly and annual accounting statutory and State Statistics reports in accordance with Russian Statutory requirements.

General Accounting

• Reflection of economic operations in the bookkeeping with the use of the Russian Accounting program “1C:8” on the basis of the primary documents;
• Verifying documentary conformity with Russian bookkeeping and tax legislation;
• Informing you in case of discrepancy between primary documents and the requirements of Russian legislation on book keeping and the tax laws;
• Preparation of tax registers according to the requirements of Russian tax laws;
• Representation of your interests before the State Tax Bodies of the Russian Federation and the State Funds, and also carrying out of verification on payment of taxes with them if necessary;
• Execution of all functions of the Chief Accountant including the signing of all documents requiring the signature of the Chief Accountant (including tax declaration);
• Preparation of all bank payment orders using an electronic bank-client system;
• Generating all required support documentation regarding hard currency payments (needed by the currency control department of your bank) to or from abroad.

*Under the Russian Civil Code, EMG is financially responsible for all fines and penalties due to mistakes made during the calculation of your taxes. Although we carry professional service insurance, we have never needed to seek compensation from our carrier, nor has any client of EMG ever suffered financially due to the errors of our accountants.