MORION DIGITAL: ITPS at the Interregional Forum “Regional Technological Development”

25.11.2020
MORION DIGITAL: ITPS at the Interregional Forum “Regional Technological Development”

On November 18, at the Morion Digital TV studio, as part of the Interregional Forum “Regional Technological Development”, a workshop on the topic “Organizational and Legal Forms and Taxation for Start-ups: Potential Issues and Benefits” took place.

Svetlana Zalesnykh, a lawyer at the ITPS Group of Companies, gave an overview of the three major issues when starting a business: the choice of organizational and legal form, the nuances of taxation, the forms of support and special tax regimes. According to the expert, at the initial stage before the legally binding documents are drawn up, it is necessary to define the relations between the partners, discuss the expectations of all parties and the level of participation in the start-up operation. This list of responsibilities can serve as a good basis for future corporate documents. 

The division of shares between the co-founders aroused keen interest of the forum participants. It is important to remember that the organizational and legal form and the taxation system are a way to formalize the start-up existence in a business environment, but not a goal in itself. Excessively complicated legal structures are just as disadvantageous for the founders as neglecting legal and tax requirements.

“One of the common mistakes is defining the basic conditions is using formal langugage, without understanding how the founders of the start-up plan to act in a conflict or an inconvenient situation.  Knowing basic legal and accounting concepts is necessary for the founders at least to correctly define the moment when it is time to use a lawyer’s or an accountant’s services in the work of a company, as well as to correctly set the tasks for them, be it an external consultant or a full-time employee”, Svetlana Zalesnykh, lawyer at the ITPS Group of Companies. 

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