RUB – Russian Ruble

Currency Guide RUB – Russian Ruble Overview The payment processing of this currency is considered to be complex, mainly due to the various elements of information that need to be added. Currency Guidelines Russian authorities use a dedicated five digitpurpose of payment code to describe the reason of payment. This code is known as a VO code (see appendix II), it is mandatory and has to be added to the reason of payment. A clear reason / purpose of payment is mandatory and consists of a full written description (in English) of the nature of payment to be provided in the remittance information. For example: providing an invoice number without guiding text is considered as insufficient and can result in errors or delays. Example of a “VO Code” and “reason of payment”: VO20100 RENT MID-AUGUST / MID-SEPTEMBER 2014 Moreover, it is strongly recommended to indicate the amount of VAT if any, or add the mention “without VAT” into the remittance information. Payments in RUB toward Russia Beside the standard information, the domestic account number (twenty-digit account number), full name (written out in full, without abbreviations or acronyms), full address and tax ID (INN or KIO code) of the beneficiary are mandatory. The Russian Tax ID is the INN code (a unique taxpayer code). If the beneficiary is a Russian resident or non- resident who pays taxes in Russia, then they have an INN code; otherwise they have a KIO code (tax ID for foreign legal entities in Russia). The tax ID can be: INN + 12 digits for an individual paying taxes in Russia INN + 10 digits for a legal entity paying taxes in Russia KIO + 5 digits for foreign entities not paying taxes in Russia INN 0 (in case beneficiary doesn’t have tax ID or to specify “No tax ID”). Example of INN code: INN123456789012 In case of tax payments, the KPP code (nine digit code) must be added beside to the INN or KIO code. The KPP describes a tax payment reason. Example of INN code & KPP code: INN123456789012 , KPP 123456789 The KPP code is always needed for tax payments however these payments can require more information. Please contact your Account Manager. The BIK code (Russian bank identifier sort code - nine digits code) and thebeneficiary bank’s correspondent account number with the Central bank of Russia (twenty digits) are mandatory and should be added to the remittance information. Example of BIK Code (the first nine digits) and the beneficiary bank’s correspondent account number with the Central Bank of Russia (the last twenty digits after the BIK code): 044525716.30101810100000000716 RUB – Russian Ruble 176 September 2015 Currency Guide Payments in RUB outside Russia Beside the standard information, the full name (written out in full, without abbreviations or acronyms), full address and tax ID of the beneficiary are mandatory. The beneficiary bank’s correspondent account number with the Central Bank of Russia is recommended. In some countries the IBAN format is mandatory (see appendix VI) and/or specific local regulations are applicable. Payment formatting Information of the beneficiary DATA NAME PRESENCE MT101 TAG XML V3 TAG DOMESTIC ACCOUNT NUMBER MANDATORY <CdtrAcct> <Id> <Othr> <Id> (RUSSIAN FORMat) (PAYMENTS TOWARD RUSSIA) XXX Name <Cdtr> <Nm> FULL NAME XXXX FULL ADDRESS MANDATORY 59 BENEFICIARY TAX ID <Cdtr> <PstlAdr> <AdrLine> XXXX MANDATORY KPP CODE (IN CASE OF TAX PAYMENTS TOWARD RUSSIA) Remittance information DATA NAME PRESENCE MT101 TAG XML V3 TAG PURPOSE OF PAYMENT CODE (VO CODE) MANDATORY REASON / PURPOSE OF PAYMENT BIK CODE 70 <RmtInf> <Ustrd> BENEFICIARY BANK MANDATORY CORRESPONDENT NUMBER (PAYMENTS TOWARD RUSSIA) WITH THE RUSSIAN CENTRAL BANK VAT AMOUNT RECOMMENDED RUB – Russian Ruble September 2015 177 Currency Guide Additional information • Available charge options: OUR • Federal Tax Service of the Russian Federation: http://eng.nalog.ru/ • Central bank of Russia: http://www.cbr.ru/eng/ RUB – Russian Ruble 178 September 2015.

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