Russia: Duma Members Propose New Rules for Food Retailers
On January 21, 2015, Russian deputies submitted to the State Duma proposed amendments to the Law on Trade that would impact Russian retailers. The amendments include a reduction in the amount of allowable retro-bonuses, shortening the payment window to suppliers for goods, and imposing fines to retailers for violating regulations ranging from 2-5 million rubles ($33,000–$82,000). Retailers have expressed concern that such proposed changes, along with the ruble depreciation, current food import ban, and increases in rents and taxes place undue hardship on them which could, potentially, lead to a destabilization of the consumer food market. The proposed amendments are currently under review.
