A Russian company shall inform the tax authorities about changes in company’s data (change of a CEO, company name, registered address, shareholders, etc.). Tax authorities record the new data in Russian companies’ register.
Previously a company had only 3 business days to perform this duty. Companies (especially with foreign shareholders) often could not sign all necessary documents in 3 days and meet the deadline. Penalties were imposed.
Now a company has 7 business days to inform the authority on the changes in company’s data.
Moreover, the tax authority will automatically update the data in companies’ register when:
- – the company name of a shareholder, registrar or a management company has changed;
– a sole shareholder with merged with another company;
– a shareholder is reorganized into another company.
The said optimizations shall decrease administrative burden and legal costs.