Russia: Third quarter salary reports due Oct. 31
Reports on the salaries paid to highly qualified specialists during the third quarter of 2016 (July through September) are due Oct. 31.
What does the change mean? The reports are required quarterly, and employers must meet the minimum salary payment levels by the end of each quarter.
- Implementation time frame: Third quarter reports are due Oct. 31.
- Visas/permits affected: Work patents and work permits for highly qualified specialists.
- Who is affected: Companies that employ highly qualified specialists.
- Business impact: Businesses may face fines if they do not file the salary reports on time.
- Next steps: Employers should prepare to file the reports by Oct. 31.
Background: Employers must meet quarterly salary thresholds and report them each quarter. Employers should make sure they have paid all required salaries by the end of each quarter. Companies that do not comply with the rules may be fined 400,000 to 1 million rubles (about US$6,270 to $15,676). Individual company officers may also be fined 35,000 to 70,000 rubles.
BAL Analysis: Companies are reminded to submit the salary notifications no later than Oct. 31 and observe the mandatory salary minimums.
This alert has been provided by the BAL Global Practice group and our network provider located in the Russian Federation. For additional information, please contact your BAL attorney.
Copyright © 2016 Berry Appleman & Leiden LLP. All rights reserved. Reprinting or digital redistribution to the public is permitted only with the express written permission of Berry Appleman & Leiden LLP. For inquiries please contact firstname.lastname@example.org.
Follow us on Twitter: @BAL_Immigration
About Berry Appleman & Leiden LLP
Founded in 1980, Berry Appleman & Leiden (BAL) provides comprehensive global immigration services from seven offices across the U.S. and from offices in Geneva, London, Melbourne, Rio de Janeiro, São Paulo, Shanghai, Singapore and Sydney. BAL manages global visa matters and customized application approaches for work permits, business visas, and residence permits in more than 100 countries. With a single cost center for worldwide operations, BAL offers centralized management with regional and local support for the complete spectrum of global immigration matters.
Source: Berry Appleman & Leiden LLP