Rules requiring government officials to disclose income in official reports don't seem to be instilling confidence in Russians, as a new poll by the Levada Center shows only two percent believe officials disclose all sources of income. Rules requiring government officials to disclose income in official...

... ($962,000) last year, or more than nine times what Interior Minister Rashid Nurgaliyev made. Grigorov also owns a 186-square-meter home and a 31.6-square-meter home and he owns a 128-square-meter apartment together with his wife, according to police income declarations published Wednesday on the Interior Ministry's website. He also owns an Audi A6 automobile. He said his wife earned 6 million rubles and owns a 100-square-meter apartment. According to the income declarations of Cabinet officials...

...," Siluanov told lawmakers in Moscow on Wednesday. Russia may overhaul rules on controlled foreign companies, according to a three-year tax-policy outline published on the Finance Ministry's website. The government may levy the 20 percent corporate income-tax rate on undistributed foreign earnings of companies controlled by Russian residents, the ministry said in the document. Then Prime Minister Vladimir Putin ordered officials March 5 to prepare rule changes requiring Russian residents to declare...

Vozrozhdenie, a top 30 Russian lender, said Tuesday that its first-quarter net profit rose 66 percent to 526 million rubles ($16.9 million), adding that its net interest income before provisions was 2.15 billion rubles in the first three months of 2012, up from 1.36 billion rubles in the same period last year. (Reuters) Russian-Israeli commercial property developer AFI Development, controlled by diamond dealer Lev Leviev...

Senior officials of the security services — the Federal Security Service, the Foreign Intelligence Service and the Federal Guard Service — have declared their incomes for 2011, and, in contrast to other government officials, most don't own vehicles and are the main breadwinners for their families. Senior officials of the security services — the Federal Security Service...

... from 111.2 billion rubles in the same period last year, on the back of strong core operations. Sberbank, whose earnings under local accounting standards are seen as an indicator of its performance under international standards, said its net interest income was up by almost 27 percent year on year, while net fee and commission income rose 22.2 percent. The lender, in which the Central Bank holds a 57.6 percent stake, controls about a third of overall lending in Russia and about half of household deposits...

... to jump five times higher by 2018. The average price of a pack of cigarettes would be about 145 rubles ($4.83), experts from the International Tax and Investment Center said, Rossiiskaya Gazeta reported Wednesday. According to these estimates, middle-income smokers will have to spend about 12 percent of their daily disposable income, while poorer smokers will be spending as much as 28 percent, compared to today's 5 percent and 7 percent, respectively. Experience from Bulgaria, Ireland, Poland and...

... interesting options have been sold out," she said by telephone, adding, however, that it's still possible to find a cottage for the summer season, which lasts till October. Tenants' activity has accelerated this year due to a recovery in people's incomes after the 2008 crisis, Varvarina said. Notably, tenants of high-end property with average rates between $10,000 and $15,000 per month — a segment that has not shown high activity in recent years — have come back to the market, she...

... European security legislation can issue bonds listed on a stock exchange. For more than 15 years, the Russian tax authorities have viewed the term "beneficial owner," a fixture of many double taxation treaties, as an entity that has received income in a legal way (based on an agreement, for example).  As beneficial ownership greatly influences how benefits under double taxation treaties are applied, it is always taken into consideration for international tax planning as well as eurobond schemes...

... officials do not hold water. When discussions focused on the United States intercepting Russian missiles over its own territory, Moscow did not bother to consider the fact that Washington plans to deploy only 40 U.S.-based GBI interceptor missiles. Every incoming Russian warhead would be surrounded by a barrage of decoys, and most independent military experts and scientists claim that it would take at least 10 interceptors to destroy a single warhead. That means the United States would be able to stop...

... collective investment vehicles of similar nature, excluding real estate funds, will also be subjected to this 5 percent tax rate. In addition, depository receipts on shares are also designated as a dividend taxed at the same rate. As far as interest income is concerned, it is worth noting that it includes income from debt claims of any kind, whether it is secured by a mortgage or not. Another key aspect indicating the importance of Cyprus as a preferred holding jurisdiction for Russian interests...

... segment will build up its indicators roughly at the same level that it did prior to the financial crisis, while the non-food segment will be more active and could grow more than 15 percent. With a population of over 142 million and a growing disposable income, Russia is unquestionably one of the most important markets for most of retailers. In 2011, for example, the overall revenue of retailers in Russia stood at more than $4,540 per resident. Judging countries by their development promise, many Western...

Power-generating company Quadra, formerly known as TGK-4, said Thursday that its 2011 net income declined 64 percent to 900 million rubles ($28.38 million), while revenues rose 13 percent to 40.2 billion rubles, and EBITDA increased 13 percent to 4.4 billion rubles. (Reuters) An offer by fertilizer maker Acron to buy up to 66 percent in Polish...

... its planned purchase of Turkey's Denizbank, with an estimated price tag of about $3.6 billion. The bank's first-quarter net profit rose to 92.2 billion rubles ($2.9 billion). Sberbank's loan book after provisions was up 6.8 percent, while net interest income increased almost by a quarter year on year to 156.3 billion rubles. Sberbank said that its return on equity, a key measure of profitability, was down slightly to 27.9 percent from 33.6 percent for the same period last year. (Reuters)

... "branchless" model that makes it possible to get a credit card at places like supermarket checkouts. TCS did not specify the stake Baring Vostok will get. Apart from Tinkov, Goldman Sachs and Vostok Nafta Investments are among shareholders. TCS' net income was $68.4 million in 2011, up 7.5 times on the previous year, on revenue up 139 percent at $332 million, according to a recent internal presentation. (Reuters)

Nord Gold said Friday that its first-quarter net income dropped 30 percent year on year to $60 million after its gold output fell, but said it expects a strong second half of 2012. "With production now returning to our forecast rates we anticipate a strong second half to the year," chief executive...

... $4 billion. The company said first-quarter net profit fell 8.1 percent year on year to 9.27 billion rubles ($306 million), hit by network expansion costs and foreign exchange losses. Revenue rose 14.4 percent to 63.1 billion rubles, while operating income before tax and amortization rose 7.3 percent to 25.5 billion rubles, giving it a margin of 40.5 percent, down from 43.2 percent. The company, which plans an IPO that a source previously said could be in the second half of 2012, is controlled by...

... to $512 million, helped by a $174 million currency gain. Revenues rose 3 percent to $3.01 billion. MTS said it was keeping its outlook for revenue growth this year at 5 percent to 7 percent but was narrowing its guidance for the margin on operating income before depreciation and amortization to 41 percent to 42 percent, from a previous range of 40 percent to 42 percent. MTS said it is looking to resume operations of Barach Communications in Turkmenistan, which it controls, and reckons to receive...

... problems, has received financial support from other sources, including the queen, who paid rent for his Kensington Palace home, which costs £100,000 per year. He has also faced allegations of using his title to attain free trips and supplement his income. Unlike other members of the royal family, the prince does not earn money from public funds. Prince Michael of Kent is the grandnephew of Tsar Nicholas II. He is fluent in Russian, regularly travels to Russia and is a patron of numerous charitable...

... financial information was provided to Vedomosti by the company's public relations deputy director Andrei Baturin. Consolidated revenues of the group grew by more than 50 percent from 154 billion rubles ($5.1 billion) to 241.4 billion rubles. And net income more than quadrupled from 3.7 billion rubles to 17 billion rubles. With those financial indicators, Stroigazmontazh could cost about $8 billion excluding debt, said Metropol analyst Sergei Vakhrameyev. Taking into account the company's high profitability...