The Ministry of Finance of Russia by its Order No. 224n of December 23, 2021 postponed the entry into force of the requirements of RUS GAAP 27/2021 on the localization of accounting. The effective date was shifted from January 1, 2022 to January 1, 2024. In other words, the RUS GAAP 27/2021 on the storage of accounting documents, as well as data contained in such documents, and the placement of databases of these data on the territory of Russia is subject to mandatory application from January 1, 2024. At the same time, the taxpayers have a right to start following this requirement until January 1, 2024. The new RUS GAAP standard 27/2021 introduces the obligation to organize the storage of accounting documents and the data contained therein, as well as to place databases of these data on the territory of Russia. At the same time, in the absence of more detailed instructions in the regulation itself, as well as explanations from authorized bodies, it is not fully clear how exactly such an obligation should be fulfilled.



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