Monitoring of the Federal Legislation dated 19.11.2003

Decree of the President of the Russian Federation No. 1355 of November 14, 2003 on the Handing over in the Property of the City of Moscow of the Federally Owned Stocks of the Open-Type Joint-Stock Company "Vnukovo Airport"

Hands over in the property of the city of Moscow 60.88% of stocks of the open-type joint-stock company "Vnukovo Airport" (Moscow). The financing of the reconstruction of the air terminal complex Vnukovo-2 will be vested in the Government of Moscow.
The Government of the Russian Federation is ordered to exclude the OAO "Vnukovo Airport" from the list of joint-stock companies making products (commodities, services) of strategic significance for the national security of the state with the federally owned stocks prohibited from early sale.
The Decree is entered into force from the day of its official publication.

Direction of the Central Bank of Russia No. 1315-U of August 4, 2003 on the Invalidation of the Normative Acts of the Bank of Russia

Invalidates the Regulation of the Bank of Russia No. 19-P of March 6, 1998 on the procedure of granting credits with the state security loan backing by the Bank of Russia to banks and the Order of the Bank of Russia No. OD-267 of June 5, 1998 on the bank refinancing operations carried out by the Bank of Russia.
Replacing the mentioned documents is the Regulation of the Bank of Russia No. 236-P of August 4, 2003 on the procedure of granting credits with security loan (blocking) backing by the Bank of Russia to credit organisations.
The Direction is entered into force 10 days after the day of its official publication in the Herald of the Bank of Russia. The text of the Direction has been published in the Herald of the Bank of Russia on November 19, 2003. No. 62.

Letter of the Ministry of Taxation of the Russian Federation No. 03-1-08/2963/11-AL268 of October 10, 2003 on the Procedure of Putting out Invoices and on Exemptions from the Value Added Tax Pursuant to the Adoption of the Federal Law No. 54-FZ of May 22, 2003

When retail trade and public catering organisations (enterprises) and independent entrepreneurs sell commodities, carry out works and render services to the population for cash, the requirements of the drawing up of payment documents and invoices are considered to be fulfilled if the seller has handed out a check to the buyer or another documents of specified form.
However, if the buyer acts by proxy on behalf of a legal entities or the buyer is an independent entrepreneur presenting the certificate of state registration, and the commodities are purchased for the purposes of entrepreneurial activities, the seller must hand out invoices in cases specified in the Tax Code of the Russian Federation.
When retail trade organisations sell commodities (works, services) to legal entities and independent entrepreneurs, the Tax Code of the Russian Federation does not specify any prohibition to indicate separately the VAT amount. When buying commodities, the mentioned persons are entitled for the exemptions in the presence of invoices and checks with indicated separately VAT amount. Line 5 of the invoice must indicate the ordinal No. of the check and the date of purchase.