Russian (Russia)

The BVI Business Companies Act, 2004 ("The Act") requires companies to maintain records and documents related to their financial transactions. According to the latest changes to the Act effective 1 January 2023, companies must file an annual return with their registered agent every year within nine months from the end of the fiscal year, i.e. September 2024

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The Department of Registrar of Companies has approved an extension to the time given for the submission of beneficial ownership data to the register of Beneficial Owners of Companies and other legal entities until 31/03/2024 and waived penalties incurred from 1/1/2024 till 16/1/2024.

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In continuation of the announcement circulate on the 2nd of November 2023, we inform you that as from the 1st of January 2024 the social insurance contribution tax is increased to 8.8% and 1% for self employed. Also, the maximum amount applicable for social insurance contribution purposes has been increased from €60,060.00 to €62,868.00 per annum, for monthly paid employees from €5,005.00 to €5,239.00 per month and for weekly paid employees from €1,155.00 to €1,209.00 per week.

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