Windfall tax for major companies to be introduced in Russia

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Daily Monitoring of the Legislation

Monitoring of the Federal Legislation dated 22.03.2006

Decree of the President of the Russian Federation No. 211 of March 16, 2006 on the Amendments to the Decree of the President of the Russian Federation No. 1313 of October 13, 2004 "Issues of the Ministry of Justice of the Russian Federation" and to the Regulation Endorsed by This Decree

The Ministry of Justice of Russia is entitled to send to the federal bodies of executive power and other bodies a representation to revoke or change their adopted normative legal acts contradicting the Constitution and legislation of the Russian Federation. If inconsistency is revealed in the actual normative legal act or act containing legal norms and having failed to pass the state registration with the Constitution and legislation of the Russian Federation, the Ministry of Justice of Russia may present a proposal to the Government of the Russian Federation to revoke or suspend such act together with a motivation and appropriate draft order of the Government of the Russian Federation.

The sphere of reference of the Ministry of Justice of Russia shall also include the keeping of the State Register of Normative Legal Acts of the Federal Bodies of Executive Power and Other Bodies in cases envisaged in the legislation of the Russian Federation.

Besides, the Ministry of Justice of Russia is ordered to keep the State Register of Municipal Formations, define the procedure of keeping of the State Register of Charters of such formations, as well as carry out the state registration of agreements on international and foreign trade ties of the subjects of the Russian Federation concluded by the bodies of state power of such subjects.

The Decree is entered into force from the day of its official publication.

Decision of the Government of the Russian Federation No. 142 of March 20, 2006 on the Endorsement of the Rate of the Export Customs Duty for Raw Oil and Raw Oil Products from Bituminous Materials Exported from the Territory of the Russian Federation outside the Member-States of the Customs Union Agreements

The rate of the export customs duty for raw oil and raw oil products from bituminous materials (code according to the Foreign Trade Commodity Nomenclature of the Russian Federation 2709 00) is increased from USD 160.8 to USD 186.4 per ton.

The Decision is entered into force from April 1, 2006.

Decision of the Government of the Russian Federation No. 138 of March 20, 2006 on the Amendments to the Decision of the Government of the Russian Federation No. 851 of December 30, 2005

Changes the rules of granting subventions in 2006 from the budget of the Federal Fund of Obligatory Medical Insurance to the territorial funds of obligatory medical insurance to finance execution by public health institutions of municipal formations rendering initial medical and sanitary aid of the state order to render additional medical aid.

Specifies, in particular, that the Federal Service of Enforcement in the Sphere of Public Health and Social Development shall keep the Federal Register of Medical Workers used to determine the amount of the subvention. Changes the formula of calculation of the subvention, now taking into account the coefficient specified in the decisions of the bodies of state power of the USSR or the federal bodies of state power for the work in the regions of the Far North and localities of similar status, mountainous, desert, waterless and other regions (localities) with harsh climatic conditions.

The Decision is entered into force from the day of its official publication and applies to legal relations emerging from January 1, 2006.

Letter of the Central Bank of Russia No. 38-T of March 16, 2006 on the List of Organisations

The list of organisations whose promissory notes (claims rights under credit contracts) may be accepted as a security for the credits of the Bank of Russia, as well as organisations than may act as guarantors for the promissory notes (claims rights under credit contracts) accepted as a security for the credits of the Bank of Russia shall include now the OAO Megafon.

The Letter shall apply beginning with the day of its publication.

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