Accounting services for foreign-owned companies
Accounting for companies involved in international trade is associated with many financial risks, legal and tax issues, and language barriers in communication with foreign counterparties. Lack of experience and knowledge in this area can negatively affect the reputation of your firm. Accounting services to support international trade involve specific postings in reporting accounting transactions, loads* of documents, calculations of exchange rate differences and customs duties. Most documents must be created in 2 languages, which increases the document flow and entails more inspections by tax authorities.
*not acceptable in business language
Russian Accountant’s professional accounting services to support international trade is an opportunity to delegate your cash flow management to highly qualified experts that have the required level of knowledge, competence and many* years of experience. Our specialists know all aspects of customs and tax legislation to the letter. Read also the article on payroll outsourcing services.
*’many’ – not needed
For companies conducting international
— creating entries on bookkeeping and tax
— payroll calculation, payroll taxes
— foreign exchange transactions, formation of financial results, tax mitigation, reduction of tax risks
— formation of the cost of imported goods in accordance with customs declarations, import contracts, costs of brokerage services (including all additional costs), and accounting for settlements with foreign suppliers
— preparing and submitting reports to the Inspectorate of the Federal Tax Service, the Pension Fund of the Russian Federation, the Social Security Fund of the Russian Federation and statistics authorities
|Name of service||Cost*|
|For foreign-owned companies — foreign trade operators:||from 40,000 rubles/month|
|— formation of records on accounts of business and tax accounting;|
|— payroll calculation, tax charges on salary;|
|— exchange transactions, financial result formation, base erosion, reduction of tax risks;|
|— formation of the imported goods cost under the customs declarations, import contracts, costs of brokerage services (including all additional costs), and accounting for settlements with a foreign supplier;|
|— reporting and submission of reports to the Inspectorate of the Federal Tax Service, Pension Fund of the Russian Federation, Social Insurance Fund and statistical authorities;|
|— English-speaking accountant for communicating with HQ;|
|— reporting according to the IFRS / US. GAAP standards.|
- Does not constitute а public offer.
- Taxes (VAT, STS) excluded.
- Stamp duties and government charges are not included in the price.
What is included in accounting services for foreign-owned companies?
The types of accounting services that are provided to business entities in the Russian Federation depend on the specifics of their work. They usually include consulting and performing the following operations:
- payment of stamp duties for creation of companies with foreign participation, as well as for accreditation of branches and representative offices of foreign companies;
- statutory fund formation;
- registration, recovery and accounting of subsidiaries of foreign legal entities and companies with foreign participation;
- adaptation of available corporate documents to international standards;
- filling-in the accounting forms, tax returns, submitting data for the Federal State Statistics Service (Rosstat), social funds;
- support in making payments, for example, between subsidiaries and their counterparties (including cross-border);
- personnel payroll calculation (including foreign specialists with submission of all necessary documents and calculations to the Migration Service).
What are the benefits of accounting services for foreign businesses?
First, the clients receive confidence in the correct and effective work of the accounting department and the competent organization of foreign trade activity. It is also very convenient: specialists install and monitor the correct functioning of the corresponding software, connect the client to the service of electronic interaction with regulatory agencies. Support during inspections and in case of receipt of claims from the authorities of the Russian Federation is provided.
In case of outsourcing to our company, the clients reporting is drawn up in accordance with Russian or international rules (IFRS and US GAAP). The involvement of English-speaking employees guarantees accuracy of the transmitted information, opportunity to receive from the specialists any explanations of the calculations and specifics of the Russian Federation legislation.
See also an article about Accounting Services for OOO
- Accounting Services
- Registration Services