years Ekaterina Lebedeva

Size: px
Start display at page:

Download "years Ekaterina Lebedeva"

Transcription

1 95 years Saint-Petersburg: new dimension of business cooperation Ekaterina Lebedeva Vice-President Saint-Petersburg Chamber of Commerce and Industry

2 95 years AGENDA I. About Saint-Petersburg II. Doing business in Russia /introduction/ III. Saint-Petersburg CCI: one-stop service for starting business with Russia

3 95 years I. Saint-Petersburg: Geographical location DATE OF FOUNDATION: May 27, 1703 TOTAL AREA:1439 km² POPULATION: people (as of January 1, 2016) DISTANCE TO TAIPEI: km DISTANCE TO MOSCOW: 706 km (approximately 4 hours by speed train SAPSAN) DISTANCE TO HELSINKI (FINLAND): 378 km (approximately 4 hours by speed train Allegro)

4 95 years Saint-Petersburg: quick facts the largest Sea port in Russia "World s Leading Cultural City Destination One of the most visited city in Europe the second city in Europe in the area, fourth in population a link between Russia and Europe

5 95 years I. Saint-Petersburg as industrial center Industry is a key sector of Saint-Petersburg Economy. contribution of Industry to economy (2015): about 39 % of tax revenues comes to consolidate budget of the Russian Federation industry provides 24 % of GRP 341 thousand people are employed in the St. Petersburg industry more than 740 big industrial plants GRP (2015)- 3178, 6 mln roubles (56, 7 mln USD) more than 24 thousands SMEs involved in Industry industrial production index (January-April 2017): 102,3% (Russia 100,7%). unemployment rate (December 2016-February 2017): 1,7 % (North-West region 4,3 %, Russia -5,5%)

6 Saint-Petersburg: leading economy clusters Pharmaceuticals & healthcare Automobile Shipbuilding Power mechanical engeneering IT Radio electronics

7 Saint-Petersburg: foreign trade Foreign trade turnover:16, 9 bln. USD (six month 2016) Import: 7, 3 bln. USD (six month 2016) Export: 9,6 bln. USD (six month 2016) MAIN TRADE Partners top 10: China 14,8 % Netherlands 10,5% Germany 9,2 % USA 6, 9 % Republic of Belarus 4,9 % France 4, 3 % Republic of Korea 3,6 % Italy 3, 4 % UK 2, 5% Japan 2,5 %

8 Saint-Petersburg for Investors 4,8 bln. USD of foreign investment (nine month 2016) Why Saint-Petersburg: Government provides one-stop service for investor benefits for investors, including tax benefits well developed transport infrastructure Saint Petersburg is a largest scientific and education centre of Russia, qualified labor foreign Investors success stories SPECIAL ECONOMIC ZONE: Noidorf and Novoorlovskaya Industrial zones

9 Saint-Petersburg as educational and scientific center St. Petersburg professional education system includes: 45 state civil higher educational establishments, including 6 subsidiaries of state civil higher educational establishments; 37 private higher educational establishments; 57 state professional educational establishments; 27 state civil higher educational establishments with programs for middle-level specialists; 6 private civil higher educational establishments with programs for middle-level specialists; 4 private professional educational establishments. More 300 thousands of students More than 250 R&D Institutes and Organizations

10 Saint-Petersburg as cultural and tourist center Museums Libraries 271 Theatres Concert halls - 14 Cultural and recreational facilities - 53 Parks - 5 Zoo 1 Cinemas - 62

11 Saint-Petersburg as cultural and tourist center World's Leading Cultural City Destination 2016 by World travel Awards 2015: visitors Saint-Petersburg sport events SPIEF Saint-Petersburg International Economic Forum

12 II. Doing business in Russia Materials provided by the experts of Russian consulting company BA group

13 II. Doing bussiness in Russia: Trends IMPORT SUBSTITUTION RUSSIAN EXPORT PROMOTION EURASIAN ECONOMIC UNION of the Republic Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic and the Russian Federation

14 1. WAYS OF DOING BUSSINESS IN RUSSIA establish a subsidiary in any legal form provided by Russian law: -separate legal entity, which is fully subject to Russian legislation -should be registered for business and tax purposes with local tax authorities -subject to taxation in the Russian Federation establish a representative office of foreign parent company. -does not have separate status of legal entity in Russia, and should be registered by the Moscow Inspection at Financial Tax Authority # 47 -the activities of branch or representative office due to tax treaties may constitute a permanent establishment -hence incomes derived by permanent establishment from their activities will be subject to Russian taxes

15 2. LEGAL ENTITY A step-by-step guide to forming a legal entity Whether you are a foreign citizen, a person without citizenship, or a representative of a foreign company you can register a legal entity. The steps to register a legal entity are follows. 1. Deciding on a business legal structure. 2. Forming the foundation documents. 3. Preparing the set of the required documents for registering. 4. Filing the required documents to the register office. 5. Receiving the incorporation documents. 6. Manufacturing the seal. 7. Opening a bank account. Starting a business!

16 2. LEGAL ENTITY Popular legal structures: Limited Liability Company (LLC): minimal requirements to participants no issue and registration of shares no published information about financial activity Joint Stock Company (JSC) requires more legal administration 3. GENERAL DIRECTOR Director General is elected by General meeting of shareholders for the period defined by Statute. He/She manages a legal entity activity. Russian Federation citizen or foreign citizen can be a Director General. Foreign citizen should have a working visa and work permit from the Migration authorities.

17 4. TAXATION SYSTEM According to the General taxation system all corporate taxpayers pay full scope of federal and regional taxes above listed (i.e. corporate income tax, VAT, property tax, etc.). This form of taxation system is mostly applied by manufacturers, constructing and engineering companies. Small business may apply Imputed taxation, if they run activities like trading with general public in cash: small retail and food service outlets, hotels, taxi companies etc. Imputed tax, at rates set by local authorities (per square meter of shop space, per vehicle etc.) replaces regular taxes. Using Simplified taxation system small businesses have opportunity to reduce the tax burden and simplify their taxation. These small companies pay only a single tax according to the simplified system. There are two options to choose from: Taxation of total revenue (cash method). The tax rate is 6%. Taxation of net receipts. In this case the tax rate is maximum15% (established by regional law).

18 4. TAXATION SYSTEM The Russian Federation Tax Code, Regional and Local Law establish different taxes. Federal taxes: Value-Added Tax (VAT) - 0, 10, 18% (depending on type of goods and operations) (e.g. export) Excises depending on type of goods Personal Income Tax 13 % Corporate Profit Tax 20% Tax on Mineral Extraction Tax - is established as the value of extracted minerals or as a multiple of the quantity of extracted minerals and a certain solid tax rate subject to a coefficient. Water Tax - is determined separately for each water body depending on watershed of rivers, lakes and seas Charges for use of wildlife objects or for use of biological objects - Duty amounts are established separately for each object of fauna or each biological water resource. State Duty established by Law.

19 4. TAXATION SYSTEM Regional Taxes: Corporate Property Tax - cannot exceed 2,2% of taxable value Gambling Tax - identified by the laws of the subjects of the Russian Federation Transport Tax - I identified by the laws of the subjects of the Russian Federation Local taxes and levies: Individual Property Tax - determined by the legislative acts of representative bodies of municipal government and depends on integrated inventory value of the object Land Tax - established by local legislative acts and can not exceed the rates specified by Russian Tax and depends on types of land use

20 5. LICENSING AND PERMITS Self-regulated organizations. Being a member is obligatory by Law while running some kinds of activity Licensing is established by Law Obtaining of certificates for goods and equipment

21 95 years Russian Chambers of Commerce and Industry system Source: Russian CCI

22 95 years SPb CCI in brief founded in 1921,oldest Chamber of Commerce integral part of the Russian Chambers system, which includes Russian CCI and 180 regional CCI one of the largest Chambers of Commerce acting under the Federal law of the RF "On Chambers of Commerce and Industry in the Russian Federation" non-governmental, non profit organization more than 3500 members, including Russian and foreign companies 14 departments, 100 employees more then 150 cooperation agreements

23 95 years SPB CCI is voice of your business!

24 SPb CCI: What we do business matching and partners search organization of business visits to Russia and international business events (conferences, workshops, forums, congresses etc.) translation and interpretation (consecutive and simultaneous) business and Investor s activity support and consultancy other services

25 SPb CCI: Cooperation with Taiwan Highlights: 1999: signed cooperation Agreement with Taiwan External Trade Development Council (TAITRA) 2012: opening of TAITRA office in Saint-Petersburg 2013: visit of SPb CCI delegation headed by. Mr. Vladimir Katenev, president of SPb CCI to Taipei 2016: visit of Mr. Shih Chao Cho, Deputy Minister of Economic Affairs 2017: Memorandum of Understanding with Chinese International Economic Cooperation Association (planned) More than 30 joint b2b meetings and other events organized and more come

26 IT and software solutions Proposals from Saint-Petersburg companies one Russia's leading higher education and research institutions, specializing in Information Technology, Optical Design and Engineering. Shipbuilding Finance/ Accounting/ Law

27 production of laser electronics manufacturing laboratory and industrial analytical equipment and instruments manufacture of the high performance heat exchangers for gaseous and other mediums and other primarily heat-exchange equipment. design, manufacture, sale and service of hovercraft under the own brand

28 Company «Steel-Export» exports of steel and products made of ferrous and non-ferrous metals OOO «NPO «Nauchfanplitprom» plywoods products manufacture, sales, logistics and service of heating and water heating equipment Colorit (ITMO University) innovative technology of metal coloration

29 Useful links Government: Eurasian Economic Commission Federal Tax Services Russian Federal Customs Service Saint-Petersburg Government: Committee for the External Relations Committee for the Industrial Policy Committee for the Investment Tourisme: Visit Saint-Petersburg Chambers of Commerce: Russian Chamber of Commerce and Industry Saint-Petersburg Chamber of Commerce and Industry Exhibitions: Saint-Petersburg Convention Expoforum Restec Farexpo Primexpo Roscongress

30 THANK YOU FOR YOU ATTENTION and WELCOME TO SAINT-PETERBURG!

31 95 years Find more information about our services and events on our website: Contact details: FACEBOOK.com/spb.tpp VK.com/spb_cci INSTAGRAM.com/spb_tpp

Invest in Kazakhstan

Invest in Kazakhstan Invest in Kazakhstan 1 Investment attractiveness of Kazakhstan Why Kazakhstan Investors are attracted to Kazakhstan for a variety of reasons Ease of Doing Business According to the 2016 World Bank report

More information

1THE REPUBLIC 2 2ECONOMY 4 4INDUSTRIAL PARK 8 5THE LAND-USE MASTER PLAN 10 7BENEFITS 14 8 CONTENTS ONE-STOP OF BELARUS

1THE REPUBLIC 2 2ECONOMY 4 4INDUSTRIAL PARK 8 5THE LAND-USE MASTER PLAN 10 7BENEFITS 14 8 CONTENTS ONE-STOP OF BELARUS CONTENTS 1THE REPUBLIC 2 OF BELARUS 2ECONOMY 4 AND INDUSTRY 3 ATTRACTION 6 OF FOREIGN CAPITAL 9 ONE-STOP 10 18 STATION GUARANTEES 20 FOR INVESTORS 4INDUSTRIAL PARK 8 OVERVIEW 5THE LAND-USE MASTER PLAN

More information

THE REPUBLIC OF ASHKORTOSTAN

THE REPUBLIC OF ASHKORTOSTAN THE REPUBLIC OF ASHKORTOSTAN THE HEART OF THE SOUTHERN URALS EUROPE Ufa. ASIA THE REPUBLIC OF BASHKORTOSTAN Geographical location of the republic: on the border of Europe and Asia POPULATION AND AREA OF

More information

National Export & Investment Agency KAZNEX INVEST Ministry of Investment and Development

National Export & Investment Agency KAZNEX INVEST Ministry of Investment and Development National Export & Investment Agency KAZNEX INVEST Ministry of Investment and Development Invest in Kazakhstan Basic Facts National Flag National Emblem Area: 2,724,000km 2 (1,051,742 sq.miles),9 th largest

More information

Rossiyskaya Gazeta offers to take part in Special issue Germany.

Rossiyskaya Gazeta offers to take part in Special issue Germany. Special Pages «Germany» in Rossiyskaya Gazeta, dedicated to partnership between Russia Federation and Federal Republic of Germany with additional distribution at St. Petersburg Economic Forum Rossiyskaya

More information

industrial production special economic zone

industrial production special economic zone industrial production special economic zone Pskov region, Russia 17.02.2015 Moglino Special economic zone 02. Pskov region on the map of Russia St Petersburg North-West Federal District Moscow 03. Geographical

More information

MINISTRY OF NATIONAL ECONOMY OF THE REPUBLIC OF KAZAKHSTAN INVESTMENT OPPORTUNITIES IN KAZAKHSTAN

MINISTRY OF NATIONAL ECONOMY OF THE REPUBLIC OF KAZAKHSTAN INVESTMENT OPPORTUNITIES IN KAZAKHSTAN MINISTRY OF NATIONAL ECONOMY OF THE REPUBLIC OF KAZAKHSTAN INVESTMENT OPPORTUNITIES IN KAZAKHSTAN London, 2014 Strategy Kazakhstan-2050 and Concept of entering top 30 most developed countries Kazakhstan

More information

SAMARA REGION TOGLIATTI SPECIAL ECONOMIC ZONE OF INDUSTRIAL PRODUCTION TYPE

SAMARA REGION TOGLIATTI SPECIAL ECONOMIC ZONE OF INDUSTRIAL PRODUCTION TYPE TOGLIATTI SPECIAL ECONOMIC ZONE OF INDUSTRIAL PRODUCTION TYPE POPULATION 500 km RADIUS 20.4 mln. POPULATION TOGLIATTI 1000 km RADIUS 71.2 mln. POPULATION Updated: October 2012 TOGLIATTI SPECIAL ECONOMIC

More information

Linking and liaising with Balance of Payments compilation in measuring inbound and outbound tourism

Linking and liaising with Balance of Payments compilation in measuring inbound and outbound tourism Linking and liaising with Balance of Payments compilation in measuring inbound and outbound tourism The National Bank of Kazakhstan Daniyar Seisebayev Table of contents: Detailed estimation of the travel

More information

Market Opportunities 2018 UZBEKISTAN.

Market Opportunities 2018 UZBEKISTAN. Market Opportunities 2018 UZBEKISTAN www.gratanet.com Major Economic and Social Developments in Uzbekistan Uzbek government intensifies restructuring of the state apparatus by adding modern-thinking specialists

More information

Kazakhstan: on the wave of structural reforms. Aset Irgaliyev, PhD First Deputy Chairman Economic Research Institute

Kazakhstan: on the wave of structural reforms. Aset Irgaliyev, PhD First Deputy Chairman Economic Research Institute Kazakhstan: on the wave of structural reforms Aset Irgaliyev, PhD First Deputy Chairman Economic Research Institute September 2015 New economic reality: transformation of global economy Over the last 12

More information

VAT FOR ARTISTS IN AN INTERNATIONAL CONTEXT

VAT FOR ARTISTS IN AN INTERNATIONAL CONTEXT Tax Advisers VAT FOR ARTISTS IN AN INTERNATIONAL CONTEXT Dr. Dick Molenaar 2017 Rotterdam, the Netherlands www.allarts.nl VAT FOR ARTISTS IN AN INTERNATIONAL CONTEXT 1. INTRODUCTION Activities of artists

More information

BATUMI BUSINESS TOUR 27 SEPTEMBER - 01 OCTOBER 2016 BUSINESS TOUR

BATUMI BUSINESS TOUR 27 SEPTEMBER - 01 OCTOBER 2016 BUSINESS TOUR BATUMI BUSINESS TOUR 27 SEPTEMBER - 01 OCTOBER 2016 BUSINESS TOUR GENERAL INFORMATION ABOUT GEORGIA Area: 69,700 sq km Population: 3.7 mln Life expectancy: 75 years Official language: Georgian Literacy:

More information

Doing Business in Kazakhstan: Tax and Legal Highlights

Doing Business in Kazakhstan: Tax and Legal Highlights Doing Business in Kazakhstan: Tax and Legal Highlights KPMG in Kazakhstan and Central Asia kpmg.kz 2 Doing business in Kazakhstan: tax and legal highlights Attitudes to tax are changing. Organizations

More information

DISCOVER YOUR WAY TO AZERBAIJAN

DISCOVER YOUR WAY TO AZERBAIJAN DISCOVER YOUR WAY TO AZERBAIJAN VALUE PROPOSITION PROVEN TRACK RECORD AND STABILITY STRATEGIC LOCATION FAVOURABLE BUSINESS CLIMATE QUALIFIED WORK FORCE VALUE PROPOSITION PROVEN TRACK RECORD AND STABILITY

More information

Azerbaijan Country Presentation

Azerbaijan Country Presentation Azerbaijan Country Presentation Rufat Mammadov AZPRPOMO Favourable Location Azerbaijan is the country on the crossroads of Eurasia I Establishment: 28 May 1918 I Independence: 18 October 1991 I Official

More information

Belarus slide package for a foreign investor

Belarus slide package for a foreign investor Belarus slide package for a foreign investor Paulina Wilk May 2012 www.tse.fi/pei/ Contents 1. General information 3 2. Economic development 7 3. Political scene 14 4. Prosperity and consumption 19 5.

More information

Setting up your Business in Russia Issues to consider

Setting up your Business in Russia Issues to consider The Russian Federation (Russia) is the world s largest country in terms of territory, with a consumer market of over 140 million people, vast natural resources, a highly educated workforce and technologically

More information

Azerbaijan Export and Investment Promotion Foundation. Azerbaijan Country Presentation

Azerbaijan Export and Investment Promotion Foundation. Azerbaijan Country Presentation Azerbaijan Country Presentation Basics Establishment: 28 May 1918 Independence: 18 October 1991 Area: Population: Official Language: Government system: Membership in: 86.6 thsd km2 9.48 million Azerbaijani

More information

ECONOMICALLY ACTIVE POPULATION 50% SME

ECONOMICALLY ACTIVE POPULATION 50% SME Welcome to Astana FROM 1997 201 6 GRP by 187 times In per capita by 64 times INVESTMENTS by 40 times NUMBER of SMEs by 21 times ANNUAL TAX reached 1 trillion RESIDENTIAL PROPERTY by 4 times In 2016 POPULAT

More information

Azerbaijan Export and Investment Promotion Foundation. Azerbaijan Country Presentation

Azerbaijan Export and Investment Promotion Foundation. Azerbaijan Country Presentation Azerbaijan Country Presentation Basic information I UN Security Council non-permanent member for 2012-2013 I Establishment: 28 May 1918 I Independence: 18 October 1991 I Official Language: I Political

More information

Doing Business in Kazakhstan

Doing Business in Kazakhstan Doing Business in Kazakhstan Tax and Legal Highlights KPMG in Kazakhstan and Central Asia kpmg.kz 2 Doing business in Kazakhstan Attitudes to tax are changing. Organizations of all sizes are ever more

More information

European attractiveness survey 2016 Russia findings

European attractiveness survey 2016 Russia findings European attractiveness survey 2016 Russia findings European context: Western Europe continues to be the most appealing FDI destination in Europe Despite a number of geopolitical risks, investors continue

More information

Anti-crisis State Policy in Russia

Anti-crisis State Policy in Russia 1 Anti-crisis State Policy in Russia Vera Kononova Institute for Complex Strategic Studies 1 December 2016 Seminar Outline 1. Anti-crisis Policy Goals The main goals and targets adopted by the Government

More information

KAZAKHSTAN: MARKET WITH POTENTIAL FOR SWISS SME?

KAZAKHSTAN: MARKET WITH POTENTIAL FOR SWISS SME? KAZAKHSTAN: MARKET WITH POTENTIAL FOR SWISS SME? Michael Kühn, Senior Consultant Russia+CIS Lugano, 3.2.2016 Content 1 - Country Profile 2 - Kazakhstan s Trade Relations: globally and with Switzerland

More information

Use of Municipal Hotel Occupancy Tax Revenue

Use of Municipal Hotel Occupancy Tax Revenue Use of Municipal Hotel Occupancy Tax Revenue May be used only to promote tourism, conventions, and the hotel industry. Revenue may not be used for general revenue purposes or general governmental operations

More information

THE RUSSIAN THE DEVELOPMENT OF FA R E A S T ASEZ NADEZHDINSKAYA PRIMORSKY KRAI. Site Infrastructure Rates Residents

THE RUSSIAN THE DEVELOPMENT OF FA R E A S T ASEZ NADEZHDINSKAYA PRIMORSKY KRAI. Site Infrastructure Rates Residents M I N I S T RY F O R THE DEVELOPMENT OF THE RUSSIAN M I N I S T RY F O R FA R E A S T THE DEVELOPMENT OF THE RUSSIAN FA R E A S T ASEZ NADEZHDINSKAYA PRIMORSKY KRAI Site Infrastructure Rates Residents

More information

Vladimir Karyagin. Chairman of Minsk Capital Association of Entrepreneurs and Employers. www. allminsk.biz,

Vladimir Karyagin. Chairman of Minsk Capital Association of Entrepreneurs and Employers. www. allminsk.biz, Vladimir Karyagin Chairman of the Presidium of the Republican Confederation of Entrepreneurship Chairman of Minsk Capital Association of Entrepreneurs and Employers www. allminsk.biz, www.rce-ale.org E-mail:

More information

ANALYSIS OF THE ECONOMIC EFFICIENCY OF INVESTMENT PROJECTS IN THE MARI EL REPUBLIC

ANALYSIS OF THE ECONOMIC EFFICIENCY OF INVESTMENT PROJECTS IN THE MARI EL REPUBLIC ANALYSIS OF THE ECONOMIC EFFICIENCY OF INVESTMENT PROJECTS IN THE MARI EL REPUBLIC Nadezhda V. Kurochkina 1* and Ramziya K. Shakirova 2 1 Senior Lecturer, Mari State University, Russia, nadiakyr@rambler.ru

More information

Investment potential of Samarkand SAMARKAND 2018

Investment potential of Samarkand SAMARKAND 2018 Investment potential of Samarkand SAMARKAND 2018 The main facts about Samarkand Area 16.8 thns. km 2. Gold Uranium Population 3,7 million Copper Zinc Gas/oil Density Languages spoken Natural resources

More information

Doing Business in Russia

Doing Business in Russia Doing Business in Russia Vladimir Abramov Partner Ernst & Young (CIS) B.V. The current economic situation shows that Chinese companies will be actively expanding their presence on the world market in the

More information

Great Stone Industrial Park: Investment opportunities on Silk Road Economic Belt

Great Stone Industrial Park: Investment opportunities on Silk Road Economic Belt Great Stone Industrial Park: Investment opportunities on Silk Road Economic Belt About the park GREAT STONE industrial park: - Territorial unit of the Republic of Belarus; - Free economic zone; - Special

More information

Chapter 1. General Provisions

Chapter 1. General Provisions FEDERAL LAW NO. 116-FZ OF JULY 22, 2005 ON SPECIAL ECONOMIC ZONES IN THE RUSSIAN FEDERATION (with the Amendments and Additions of June 3, December 18, 2006, October 30, 2007) Adopted by the State Duma

More information

INVESTMENTS, EXPORT AND SMEs. The Ministry of Economy of the Kyrgyz Republic

INVESTMENTS, EXPORT AND SMEs. The Ministry of Economy of the Kyrgyz Republic INVESTMENTS, EXPORT AND SMEs The Ministry of Economy of the Kyrgyz Republic Contents Brief information about Kyrgyzstan Macroeconomic indicators Legislation and favorable investment climate About production

More information

Taxation Systems on Taiwan Outward Investment in China

Taxation Systems on Taiwan Outward Investment in China Taxation Systems on Taiwan Outward Investment in China Der-cherng Lo Department of Public Finance National Chengchi University January 2008 Contents of presentation I. Introduction II. Current regulations

More information

Strategic Investment Projects of Saint-Petersburg and Developing of Automobile Cluster

Strategic Investment Projects of Saint-Petersburg and Developing of Automobile Cluster Strategic Investment Projects of Saint-Petersburg and Developing of Automobile Cluster Committee for Investments and Strategic Projects The Government of Saint-Petersburg MUNCHEN, June 27, 2008 A city

More information

Primorsky Krai The Land of Opportunities For Investors

Primorsky Krai The Land of Opportunities For Investors Primorsky Krai The Land of Opportunities For Investors $12,28 Gross regional product, bln UTC+11/MSK+7 Time zone Vladivostok Region center 1 913 037 Population 164,700 Area, km! Region Benefits for Investors

More information

Issue XVII: January 2017

Issue XVII: January 2017 Issue XVII: January 2017 Chairman s Pen It is indeed great news for India that the negotiation on the proposed India-EAEU FTA is going to start sometime soon as decided by the representatives of the participating

More information

Tax Card January 2016 Belarus KPMG LLC. kpmg.com/by

Tax Card January 2016 Belarus KPMG LLC. kpmg.com/by Tax Card 2016 1 January 2016 Belarus KPMG LLC kpmg.com/by BELARUSIAN STATE TAXES AND DUTIES Value Added Tax (VAT) Excise Duty Corporate Profit Tax (CPT) Withholding tax on income of foreign legal entities

More information

INVESTMENT ENVIRONMENT IN MONGOLIA

INVESTMENT ENVIRONMENT IN MONGOLIA INVESTMENT ENVIRONMENT IN MONGOLIA Mr. MUNBAT.L Director, Registration, Information and Promotion Division National Development Agency Mongolian-Italian Business Forum 2017.04.05 Ulaanbaatar, Mongolia

More information

IN FIGURES 2015/2016

IN FIGURES 2015/2016 IN FIGURES 2015/2016 Symbols Population TARTU IN FIGURES 2015/2016 Arms of Tartu Tartu is the second largest city in Estonia Tartu first mentioned in written sources 1,030 Length of the Emajõgi River in

More information

BALANCE OF PAYMENTS¹ of the Republic of Azerbaijan for January September, 2015

BALANCE OF PAYMENTS¹ of the Republic of Azerbaijan for January September, 2015 BALANCE OF PAYMENTS¹ of the Republic of Azerbaijan for January September, 2015 As in previous years, in January - September, 2015 external economic operations had positive balance on the oil-and-gas sector

More information

UNION OF MANUFACTURERS AND BUSINESSMEN (EMPLOYERS) OF ARMENIA

UNION OF MANUFACTURERS AND BUSINESSMEN (EMPLOYERS) OF ARMENIA UNION OF MANUFACTURERS AND BUSINESSMEN (EMPLOYERS) OF ARMENIA UNION OF MANUFACTURERS AND BUSINESSMEN (EMPLOYERS) OF ARMENIA The UMB(E)A is a not-for-profit non-governmental organization that unites businessmen

More information

Investment Environment in Laos LAND OF AMPLE OPPORTUNITIES AND SUCCESS

Investment Environment in Laos LAND OF AMPLE OPPORTUNITIES AND SUCCESS Investment Environment in Laos LAND OF AMPLE OPPORTUNITIES AND SUCCESS outline 1. Economy and Investment Overview 2. Investment Opportunities 3. Initiative on the Public Private Partnership (PPP) 4. Challenges

More information

Tax Incentives in Belarus Doing business easier

Tax Incentives in Belarus Doing business easier Tax Incentives in Belarus Doing business easier Introduction The changing business environment in Belarus is bringing forth new opportunities for investors. Tax incentives are a useful tool for increasing

More information

Lithuania Country Profile

Lithuania Country Profile Lithuania Country Profile EU Tax Centre June 2017 Key tax factors for efficient cross-border business and investment involving Lithuania EU Member State Yes Double Tax Treaties With: Armenia Austria Azerbaijan

More information

DOING BUSINESS IN AZERBAIJAN

DOING BUSINESS IN AZERBAIJAN DOING BUSINESS IN AZERBAIJAN CONTENTS 1 Introduction 3 2 Business environment 4 3 Foreign Investment 6 4 Setting up a Business 7 5 Labour 8 6 Taxation 9 7 Accounting & reporting 11 8 UHY Representation

More information

Tax Card 2015 with effect from 1 January 2015 Republic of Belarus KPMG LLC

Tax Card 2015 with effect from 1 January 2015 Republic of Belarus KPMG LLC Tax Card 2015 with effect from 1 January 2015 Republic of Belarus KPMG LLC BELARUSIAN STATE TAXES AND DUTIES Value Added Tax (VAT) Excise Duty Corporate Profit Tax (CPT) Withholding tax on income of foreign

More information

Business environment

Business environment Business environment A market of 500 million people within the EU Your gate to a market of 500 million customers Hungary Land: 93,030 km² Population: 10 million GDP/capita, at PPP: EUR 14,221/ USD 18,816

More information

Lithuania: in a wind of change. Robertas Dargis President of the Lithuanian Confederation of Industrialists

Lithuania: in a wind of change. Robertas Dargis President of the Lithuanian Confederation of Industrialists Lithuania: in a wind of change Robertas Dargis President of the Lithuanian Confederation of Industrialists 2017 06 15 Lithuanian Confederation of Industrialists - the largest business organisation in Lithuania

More information

Cyprus EU Citizenship By Investment

Cyprus EU Citizenship By Investment Cyprus EU Citizenship By Investment CYPRUS EU CITIZENSHIP BY INVESTMENT Cyprus became a member of the European Union in May 2004 and joined the EU Monetary Union in 2008 Cyprus has a stable legal and tax

More information

APA & MAP COUNTRY GUIDE 2017 UNITED STATES

APA & MAP COUNTRY GUIDE 2017 UNITED STATES APA & MAP COUNTRY GUIDE 2017 UNITED STATES Managing uncertainty in the new tax environment UNITED STATES KEY FEATURES Competent authority APA provisions/ guidance Types of APAs available APA acceptance

More information

Seminar on Business Cooperation Opportunities in Bulgaria

Seminar on Business Cooperation Opportunities in Bulgaria Seminar on Business Cooperation Opportunities in Bulgaria Taipei, June 23, 2016 General information Official name: Republic of Bulgaria Area: 110 994 sq.km. Population: 7.2 million Capital: Sofia Time

More information

Paper F6 (CHN) Taxation (China) Monday 6 December Fundamentals Level Skills Module. The Association of Chartered Certified Accountants

Paper F6 (CHN) Taxation (China) Monday 6 December Fundamentals Level Skills Module. The Association of Chartered Certified Accountants Fundamentals Level Skills Module Taxation (China) Monday 6 December 2010 Time allowed Reading and planning: Writing: 15 minutes 3 hours ALL FIVE questions are compulsory and MUST be attempted. Tax rates

More information

Saudi Arabia at a Glance

Saudi Arabia at a Glance Invest Saudi Table of Contents Saudi Arabia at a Glance Saudi Arabia Economy Why Invest in Saudi? Key Incentives Available for Investors Strategic Sectors & Opportunities Investments We Value the Most

More information

Cyprus: (1) Citizenship (2) Permanent Residency (3) Real Estate (4) Tax Residency and Tax Incentives. Greece: In General & Investment Opportunities

Cyprus: (1) Citizenship (2) Permanent Residency (3) Real Estate (4) Tax Residency and Tax Incentives. Greece: In General & Investment Opportunities Cyprus: (1) Citizenship (2) Permanent Residency (3) Real Estate (4) Tax Residency and Tax Incentives Greece: In General & Investment Opportunities 1 Key Benefits: Free Movement of People: The Successful

More information

Priorities of the Government of the Republic of Moldova in the area of attracting investments and promoting exports

Priorities of the Government of the Republic of Moldova in the area of attracting investments and promoting exports Ministry of Economy and Infrastructure of the Republic of Moldova Priorities of the Government of the Republic of Moldova in the area of attracting investments and promoting exports THE REPUBLIC OF MOLDOVA

More information

JETRO s activities Promoting Inward Foreign Direct Investment

JETRO s activities Promoting Inward Foreign Direct Investment JETRO s activities Promoting Inward Foreign Direct Investment Feb. 1, 2016 Kazuya Nakajo Director-General of Invest Japan Department Japan External Trade Organization (JETRO) Abenomics & Economic Trends

More information

Sri Lanka The hub of South Asia.

Sri Lanka The hub of South Asia. Sri Lanka The hub of South Asia SRI LANKA AT A GLANCE Capital (Commercial) Colombo Capital (Administrative) Sri Jayewardenepura Kotte Area 65,525 sq km Population 21,409,381 (July 2017 est.) Official Language

More information

Tax Card 2018 Effective from 1 January 2018 The Republic of Estonia

Tax Card 2018 Effective from 1 January 2018 The Republic of Estonia Tax Card 2018 Effective from 1 January 2018 The Republic of Estonia KPMG Baltics OÜ kpmg.com/ee CORPORATE INCOME TAX In Estonia, corporate income tax is not levied when profit is earned but when it is

More information

Sri Lanka Steps towards Investment Attraction through Investment Faciliattion Ganga Palakatiya Deputy Director (Research & Policy Advocacy)

Sri Lanka Steps towards Investment Attraction through Investment Faciliattion Ganga Palakatiya Deputy Director (Research & Policy Advocacy) Sri Lanka Steps towards Investment Attraction through Investment Faciliattion Ganga Palakatiya Deputy Director (Research & Policy Advocacy) September 2018 8th Meeting of the Asia Pacific FDI Network, Thailand

More information

Tax Card KPMG in Macedonia. kpmg.com/mk

Tax Card KPMG in Macedonia. kpmg.com/mk Tax Card 2016 KPMG in Macedonia kpmg.com/mk TAXATION OF CORPORATE PROFITS Corporate income tax (CIT) is due from profits realized by resident legal entities as well as by non-residents with a permanent

More information

The Asian Financial Forum

The Asian Financial Forum Ministry of Economic Development and Trade, The Republic of Kazakhstan The Asian Financial Forum Common Economic Space and Investment Opportunities in Kazakhstan Hong Kong Astana, January 2012 A quick

More information

Mongolia Tax Profile. Produced in conjunction with the KPMG Asia Pacific Tax Centre. Updated: June 2015

Mongolia Tax Profile. Produced in conjunction with the KPMG Asia Pacific Tax Centre. Updated: June 2015 Mongolia Tax Profile Produced in conjunction with the KPMG Asia Pacific Tax Centre Updated: June 2015 Contents 1 Corporate Income Tax 1 2 Income Tax Treaties for the Avoidance of Double Taxation 6 3 Indirect

More information

Setting up in Denmark

Setting up in Denmark Setting up in Denmark 6. Taxation The Danish tax system for individuals rests on the global taxation principle. The principle holds that the income of individuals and companies with full tax liability

More information

MACROECONOMY OF THE RUSSIAN REGIONS NEIGHBORING WITH THE NEW EUROPEAN UNION

MACROECONOMY OF THE RUSSIAN REGIONS NEIGHBORING WITH THE NEW EUROPEAN UNION THE 43 RD CONGRESS OF THE EUROPEAN REGIONAL SCIENCE ASSOCIATION 27-30 AUGUST, 2003, JYVÄSKYLÄ, FINLAND Alexander Granberg, Council for the Study of Productive Forces, Moscow, Russia, e-mail: granberg@online.ru;

More information

Best practices in export promotion: Experiences in Latin America, Europe and Central Asia, IAMO Halle (Saale), Germany, on May 2016

Best practices in export promotion: Experiences in Latin America, Europe and Central Asia, IAMO Halle (Saale), Germany, on May 2016 Best practices in export promotion: Experiences in Latin America, Europe and Central Asia, IAMO Halle (Saale), Germany, on 24-25 May 2016 www.mineconom.gov.kg Creation of conditions for export of goods

More information

MONGOLIA S FOREIGN INVESTMENT POLICIES AND PERSPECTIVES

MONGOLIA S FOREIGN INVESTMENT POLICIES AND PERSPECTIVES MONGOLIA S FOREIGN INVESTMENT POLICIES AND PERSPECTIVES Mr. ENKHBOLD Vorshilov, Director General, Department of Foreign Trade and Economic Cooperation, Ministry of Foreign Affairs, Mongolia KEY FIGURES

More information

SOURCING OPERATIONS IN HONG KONG 1h Angelica Leung Head of Consumer Products

SOURCING OPERATIONS IN HONG KONG 1h Angelica Leung Head of Consumer Products 1 SOURCING OPERATIONS IN HONG KONG 1h 2017 Angelica Leung Head of Consumer Products 2 BELT & ROAD Hong Kong: the Super-Connector between Mainland China and the world RUSSIA ITALY TURKEY Urumqi Beijing

More information

Belarus. Capital city: Minsk. GDP/capita 2016: USD 4,986. Telephone code: Languages: Belarussian / Russian. National day: 3 July

Belarus. Capital city: Minsk. GDP/capita 2016: USD 4,986. Telephone code: Languages: Belarussian / Russian. National day: 3 July Belarus ALBANIA Capital city: Minsk Area: 207,600 km 2 Population: 9,498,700 Languages: Belarussian / Russian Political system: Presidential Republic GDP/capita 2016: USD 4,986 Currency: Belarussian ruble

More information

Cyprus Citizenship by Investment

Cyprus Citizenship by Investment Cyprus Citizenship by Investment Criteria and benefits of the: - Cyprus citizenship programme - Cyprus permanent residence October 2016 www.cyprusresidence.com.cy Cyprus, the right place to live the right

More information

CEPA: Cross-boundary Business Opportunities. Edward Leung Chief Economist, HKTDC 18 September 2009

CEPA: Cross-boundary Business Opportunities. Edward Leung Chief Economist, HKTDC 18 September 2009 CEPA: Cross-boundary Business Opportunities Edward Leung Chief Economist, HKTDC 18 September 2009 4 Major Concerns on CEPA: - What are the main provisions of CEPA? - Who qualifies? - What are the benefits

More information

Investment Policy of the Kyrgyz Republic in the Framework of Integration Process

Investment Policy of the Kyrgyz Republic in the Framework of Integration Process Investment Policy of the Kyrgyz Republic in the Framework of Integration Process The Center of Economic Research The National Bank of the Kyrgyz Republic Content Macroeconomic indicators Economic achievements

More information

THE LAW OF THE KYRGYZ REPUBLIC. On Amendments and Addenda to the Tax Code of the Kyrgyz Republic

THE LAW OF THE KYRGYZ REPUBLIC. On Amendments and Addenda to the Tax Code of the Kyrgyz Republic Bishkek July 13, 1999, # 71 THE LAW OF THE KYRGYZ REPUBLIC On Amendments and Addenda to the Tax Code of the Kyrgyz Republic Article 1. The following amendments and addenda shall be introduced to the Tax

More information

Utilisation levy: general overview and practical approach of the Russian Federal Customs Service

Utilisation levy: general overview and practical approach of the Russian Federal Customs Service World Customs Journal Utilisation levy: general overview and practical approach of the Russian Federal Customs Service Abstract Boris Kabylinskiy and Victoria Menshakova Recycling of production and consumption

More information

Global Outlook and Implications to Asia and Mongolia. September 2013

Global Outlook and Implications to Asia and Mongolia. September 2013 Global Outlook and Implications to Asia and Mongolia September 2013 Global Macroeconomics Outlook Country and Industry Overview Company Overview Conclusion Global Macroeconomics Outlook Merchandise trade

More information

Presentation. Global Financial Crisis: Impact on Kazakhstan, Lessons from the Past, Current Challenges

Presentation. Global Financial Crisis: Impact on Kazakhstan, Lessons from the Past, Current Challenges High-level Regional Policy Dialogue on "Asia-Pacific economies after the global financial crisis: Lessons learnt, challenges for building resilience, and issues for global reform" 6-8 September 2011, Manila,

More information

How Much, With Whom and What Does the US Trade? It is important to remember that trade includes both Goods and Services.

How Much, With Whom and What Does the US Trade? It is important to remember that trade includes both Goods and Services. How Much, With Whom and What Does the US Trade? It is important to remember that trade includes both Goods and Services. In 2016 1 : The US exported $1.5 trillion in Goods and $750 billion in Services

More information

European Commission takes over the national authorities competence with regard to international trade Common Customs Tariff

European Commission takes over the national authorities competence with regard to international trade Common Customs Tariff MINISTRY OF ECONOMY AND COMMERCE Foreign Trade Department ROMANIA Member of the European Union ECONOMIC DEVELOPMENT AND OPPORTUNITIES IN ROMANIA By Iuliu WINKLER, minister delegate for commerce Romania

More information

VTB Group Quality Growth Strategy Highlights

VTB Group Quality Growth Strategy Highlights VTB Group 2014 Quality Growth Strategy Highlights Yulia Chupina / Deputy President and Chairman of VTB Bank Management Board Herbert Moos / Deputy President and Chairman of VTB Bank Management Board April

More information

CATALOGUE. PROGRAMMES OF PROFESSIONAL TRAINING FOR PERSONNEL OF THE CENTRAL (NATIONAL) B A N K S O F E u r A s E C M E M B E R S T A T E S

CATALOGUE. PROGRAMMES OF PROFESSIONAL TRAINING FOR PERSONNEL OF THE CENTRAL (NATIONAL) B A N K S O F E u r A s E C M E M B E R S T A T E S CATALOGUE PROGRAMMES OF PROFESSIONAL TRAINING FOR PERSONNEL OF THE CENTRAL (NATIONAL) B A N K S O F E u r A s E C M E M B E R S T A T E S E U R A S I A N E C O N O M I C 2C O M 0M U 1N I 0T Y SCHEDULE

More information

EXPORT PERFORMANCE MONITOR

EXPORT PERFORMANCE MONITOR Export Performance Monitor Statistics department, EEPC Head Office Exports growing steadily According to the provisional data available from DGCI&S up to September 2007, Exports during September, 2007

More information

SVERDLOVSK REGION INDUSTRIAL PRODUCTION SPECIAL ECONOMIC ZONE. Invest in Sverdlovsk Region Russia

SVERDLOVSK REGION INDUSTRIAL PRODUCTION SPECIAL ECONOMIC ZONE. Invest in Sverdlovsk Region Russia SVERDLOVSK REGION INDUSTRIAL PRODUCTION SPECIAL ECONOMIC ZONE 2 SVERDLOVSK REGION INDUSTRIAL PRODUCTION SPECIAL ECONOMIC ZONE Why Special Economic Zone? to base new productions to improve regional infrastructure

More information

Trade and economic cooperation According to the State Statistics Service of Ukraine, in 2016 overall turnover of trade in goods and services between Ukraine and Iceland amounted to $67808,4 thousand USD,

More information

Export promotion policies and programmes in Kazakhstan presenter: Dauren Oshakbayev

Export promotion policies and programmes in Kazakhstan presenter: Dauren Oshakbayev Expert Round Table Best practices in export promotion: Experience in Latin America, Eastern Europe and Central Asia Halle (Saale), 24-25 May 2016 Export promotion policies and programmes in Kazakhstan

More information

Investment in Lao PDR Tax updates. 16 August 2017

Investment in Lao PDR Tax updates. 16 August 2017 Investment in Lao PDR Tax updates 16 August 2017 Agenda Overview of foreign investment in Laos Taxation system in Laos Investment incentives Updates on foreign investment Other considerations Page 2 Overview

More information

4Q Russian Legislation Update Taxation

4Q Russian Legislation Update Taxation 4Q 2014 Russian Legislation Update Taxation Contents TAX ACCOUNTING AND REPORTING 2 Amendments to taxation of income of foreign entities 2 Introduction of trade duty and certain amendments to the Russian

More information

Priorbank Experience in Belarus as RBI Subsidiary Presentation by Bernd Rosenberg, Deputy Chairman of Priorbank JSC, January 2018

Priorbank Experience in Belarus as RBI Subsidiary Presentation by Bernd Rosenberg, Deputy Chairman of Priorbank JSC, January 2018 Priorbank Experience in Belarus as RBI Subsidiary Presentation by Bernd Rosenberg, Deputy Chairman of Priorbank JSC, January 2018 01.02.2018 1 Key Facts on Priorbank Established back in 1989, controlling

More information

Enhancing Budget Literacy in Russia: Approaches, Latest Developments and First Lessons Learnt

Enhancing Budget Literacy in Russia: Approaches, Latest Developments and First Lessons Learnt Enhancing Budget Literacy in Russia: Approaches, Latest Developments and First Lessons Learnt Deputy Director, Budget Policy Department Минфин России Andrey Alexeevich Blokhin 2 Building a multidimensional

More information

Focus on Trade Etihad Credit Insurance. Rome, 17 October nd Italian Arab Business Forum Auditorium della Tecnica, Confindustria

Focus on Trade Etihad Credit Insurance. Rome, 17 October nd Italian Arab Business Forum Auditorium della Tecnica, Confindustria Focus on Trade Etihad Credit Insurance Rome, 17 October 2018 2 nd Italian Arab Business Forum Auditorium della Tecnica, Confindustria Economic overview 2018 UAE 2018 GPD to expand 2.3%, according UAE Central

More information

TAX FRAMEWORK IN KSA. Presented by: Franz-Josef Epping KSA

TAX FRAMEWORK IN KSA. Presented by: Franz-Josef Epping KSA TAX FRAMEWORK IN KSA Presented by: Franz-Josef Epping KSA Topics covered Background of Taxation System in Saudi Arabia 03 Corporate Income tax/zakat 04 Withholding Taxation (WHT) 08 Double Taxation Agreements

More information

UNITED MEDIA PLATFORM

UNITED MEDIA PLATFORM MEDIA-KIT UNITED MEDIA PLATFORM BRAND «ROSSIYSKAYA GAZETA»: «Rossiyskaya gazeta» Daily social and political newspaper «Rossiyskaya gazeta» - Nedelya Weekly issue «Rodina» Monthly historical magazine RG.RU

More information

Interim results. for the half-year ended 30 September 2010

Interim results. for the half-year ended 30 September 2010 Interim results for the half-year ended 30 September 2010 Agenda Results Highlights Strategic Review and Future Prospects 2 1. Results Highlights (million ) Net sales Operating profit Net profit 1 400

More information

CURRENT SITUATION OF MONGOLIA-CHINA TRADE AND ECONOMIC COOPERATION AND FURTHER TRENDS

CURRENT SITUATION OF MONGOLIA-CHINA TRADE AND ECONOMIC COOPERATION AND FURTHER TRENDS CURRENT SITUATION OF MONGOLIA-CHINA TRADE AND ECONOMIC COOPERATION AND FURTHER TRENDS By Mr. J. SHISHMISHIG, Representative of the Ministry of Foreign Affairs and Trade of Mongolia Joint Dissemination

More information

R E P O R T Prepared by A. Larkin, the Chairman of the Chamber of Control and Accounts of the Leningrad Region, for EURORAI Congress (workshop)

R E P O R T Prepared by A. Larkin, the Chairman of the Chamber of Control and Accounts of the Leningrad Region, for EURORAI Congress (workshop) R E P O R T Prepared by A. Larkin, the Chairman of the Chamber of Control and Accounts of the Leningrad Region, for EURORAI Congress (workshop) Topic: Justification, effectiveness and legitimacy of the

More information

Economic Outlook. Global And Finnish. Technology Industries In Finland Economic uncertainty has not had a major impact yet p. 5.

Economic Outlook. Global And Finnish. Technology Industries In Finland Economic uncertainty has not had a major impact yet p. 5. Economic Outlook Technology Industries of 1 219 Global And Finnish Economic Outlook Uncertainty dims growth outlook p. 3 Technology Industries In Economic uncertainty has not had a major impact yet p.

More information

Eesti Pank ESTONIA S BALANCE OF PAYMENTS FOR 2015

Eesti Pank ESTONIA S BALANCE OF PAYMENTS FOR 2015 Eesti Pank ESTONIA S BALANCE OF PAYMENTS FOR 215 216 Eesti Pank, 215 Address Estonia pst 13 1595 Tallinn Estonia Telephone +372 668 719 E-mail info@eestipank.ee Website www.eestipank.ee ISSN 1736-7859

More information

Tax Card With effect from 1 January 2016 Lithuania. KPMG Baltics, UAB. kpmg.com/lt

Tax Card With effect from 1 January 2016 Lithuania. KPMG Baltics, UAB. kpmg.com/lt Tax Card 2016 With effect from 1 January 2016 Lithuania KPMG Baltics, UAB kpmg.com/lt CORPORATE INCOME TAX Taxable profit of Lithuanian and foreign corporate taxpayers is subject to a standard (flat) rate

More information

LAOS: Land of Ample Opportunities Successes

LAOS: Land of Ample Opportunities Successes INVESTMENT POLICY & OPPORTUNITIES IN LAOS: Land of Ample Opportunities Successes Dr. Phonesay Vilaysack Investment Promotion Department Ministry of Planning and Investment Contents Laos in Brief Why Laos?

More information

I N V E S T M E N T I N C E N T I V E S

I N V E S T M E N T I N C E N T I V E S I N V E S T M E N T I N C E N T I V E S CENTRE FOR THE SUPPORT TO INVESTMENTS AND PUBLIC PRIVATE PARTNERSHIP investicije@pks.rs January, 2018 I STATE INCENTIVES FOR INVESTMENTS A) Two groups of investments

More information