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Private entrepreneurs in Russia are individuals who engage in entrepreneurial activities without creating a legal entity. They operate under a simplified tax regime, which allows them to pay a fixed tax rate, regardless of their income. This simplified tax system has encouraged many people to start their own businesses, as it eliminates the need for complicated accounting and tax reporting.
Legal entities, on the other hand, are businesses that are registered with the Russian government and operate under the regulations set forth in the Russian Civil Code. These entities can take on different forms, including limited liability companies, joint-stock companies, and partnerships. They are subject to a more complex tax system than private entrepreneurs, but they also enjoy certain benefits, such as limited liability protection.
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Legal entities, on the other hand, are businesses that are registered with the Russian government and operate under the regulations set forth in the Russian Civil Code. These entities can take on different forms, including limited liability companies, joint-stock companies, and partnerships. They are subject to a more complex tax system than private entrepreneurs, but they also enjoy certain benefits, such as limited liability protection.
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