As of 2020 financial statements are published in Russia by a new source - the State information resource of accounting (financial) statements (GIR BO), the maintenance of which is entrusted to the Federal Tax Service of the Russian Federation - Russian registration body (Registrar).
According to the Russian Federal Law companies should file annual financial statements with the tax authorities no later than 3 months after the end of the reporting period. At present over 2,15 million financial accounts 2019 are already available. The number of published financials has been changing caused by the prolongation of filing period due to the COVID-19 pandemic.
The following entities are exempted from filing of the annual financial statements: state-financed organizations, Bank of Russia, religious organizations, credit and non-credit institutions filing accounting statements with the Bank of Russia, organizations which financial statements are considered as state secret, other entities according to the decision of the Government of the Russian Federation. The latest financial statements are not to be filed by reorganized or dissolved legal entities.
Financial statements must be submitted by companies only in the form of an electronic document. In 2020 SMEs may still submit reports both in paper and electronic form.
The Registrar emphasizes that the correct Russian Economic Activities Classification System code (OKVED) must be specified in financial accounts showing the current type of activity for the reporting year. If the OKVED code in financial accounts differs from the OKVED codes specified in the Register by registration, the company must declare the appropriate changes accordingly.
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