UrBC, Moscow, August 31, 2018. Russia’s Federal Tax Service is now allowed to freeze sole traders’ and companies’ bank accounts if they fail to make their insurance premium payments on time; the amendments to Russia’s Tax Code come into effect on August 30, 2018. ‘No account-freezing sanctions will get imposed on any private individual who is not a sole trader and is under no obligation to pay the insurance premiums. No amendments have been made to the Tax Code in this respect,’ Federal Tax Service told RIA Novosti. It was pointed out once again that the fiscal authorities got granted no

UrBC, Moscow, August 31, 2018. According to the National Credit History Bureau’s press service, a consumer loan issued in Russia gets paid out in 3.83 years on average as of QII’18, which is 5.5 months, or 13.4% longer than one year earlier (when the loan period was 3.38 years long on average). The bureau says the loan period extended the most where the smallest consumer loans (under RUR 100,000) are involved: the increase was by ten months, or 39.9%. The largest consumer loans (over RUR 500,000), on the other hand, now get repaid only slightly more slowly than earlier: the increase was by

UrBC, Moscow, August 31, 2018. It is estimated that the Russian Federation’s budget will incur RUR 3.2 trillion in losses after the recent pension reform adjustments have shifted the retirement age for women from 63 to 60, Interfax refers to Russian Vice Premier Tatiana Golikova as stating. Giving up on the idea of women applying for state pension at 63 rather than 60 states for RUR 3.2 trillion money-wise, Golikova said. According to Golikova, the proposal to raise the retirement age for women resulted in backlash felt keenly during the ensuing discussions, given that ‘historically, back in

UrBC, Moscow, August 31, 2018. Pharmaceutical products cost RUR 185.1 per unit/pack on average on the Russian retail market last month; this was 0.8% more than in June 2018, DSM Group’s analysts report. The country’s pharmaceutical market amounted to RUR 75 bn in July 2018 all in all, which exceeded the figures for one year previously by 4.7%. The market also expanded by 3.8% in ruble terms in January-July 2018 compared with one year earlier. The national food supplement market lost 0.4% of its financial worth in July 2018 compared with June 2018 and thus dropped down to RUR 3.8bn. The market

UrBC, Yekaterinburg, August 31, 2018. 66% of Yekaterinburg’s residents who took part in a recent opinion survey said they would be willing to leave Russia for another country for good, provided they had a good job offer there. 6% of respondents are already employed abroad, zarplata.ru reports after having surveyed 1,140 locals. 88% of those surveyed feel positive about labor migration and believe one should use the opportunity of emigrating if it arises. 12% of respondents, on the other hand, are confident one should stay and work for the good of one’s home country. 66% of respondents