Monitoring of the Federal Legislation dated 26.07.2006

Decision of the Government of the Russian Federation No. 451 of July 22, 2006 on the Amendments to the Customs Tariff of the Russian Federation Pertaining to Individual Types of Transport Vehicles Older Than 5 Years of Age

According to the amendments, an interim rate of the import customs duty applies (for 9 months) in the amount of EUR 2.2 per cu. cm of the engine volume for fifth-wheel tractors, motor vehicles with the carrying capacity greater than 20 tons and transport vehicles outfitted with a loading device to move lumber from the place of felling to the point of loading or the haulage road older than 5 years of age. Earlier, the mentioned rate was applied to transport vehicles older than 7 years of age.

In other cases (if younger than 5 years old), the mentioned transport vehicles are subject to the rate of 15% of the customs cost (for fifth-wheel tractors and motor vehicles with the carrying capacity greater than 20 tons) and 10% (for transport vehicles outfitted with a loading device to move lumber from the place of felling to the place of loading or the haulage road).

The codes of the Foreign Trade Commodity Nomenclature of Russia classifying the above transport vehicles also changed. Code 8701 20 901 3 is applied for fifth-wheel tractors older than 5 year so age instead of code 8701 20 901 2, code 8701 20 901 7 for other tractors instead of code 8701 20 901 8. Code 8704 22 990 3 is applied for transport vehicles outfitted with a loading device to move lumber from the place of felling to the place of loading or the haulage road older than 5 years of age instead of code 8704 22 990 2, code 8704 22 990 7 for other instead of code 8704 22 990 8. Code 8704 23 990 3 is used for motor vehicles with the carrying capacity greater than 20 tons older than 5 years of age instead of code 8704 23 990 2, code 8704 23 990 7 for other instead of code 8704 23 990 8.

The Decision is entered into force 2 months after the day of its official publication.

Order of the Federal Agency of Geodesy and Cartography No. 48-pr of July 4, 2006 on the Procedure of Publication and Entry into Force of the Acts of the Federal Agency of Geodesy and Cartography Recognised by the Ministry of Justice of the Russian Federation As Not Needing the State Registration

The acts of the Federal Agency of Geodesy and Cartography recognised by the Ministry of Justice of the Russian Federation as not needing the state registration must be published in the newspaper Herald of Geodesy and Cartography which is an official source. The mentioned acts shall enter into force from the moment of their signing (endorsement) if the acts themselves do not specify another time limit and procedure of entry into force.

Registered in the Ministry of Justice of the Russian Federation on July 17, 2006. Reg. No. 8100.

Direction of the Central Bank of Russia No. 1699-U of June 30, 2006 on the Amendment to the Regulation of the Bank of Russia No. 215-P of February 10, 2003 on the Method of Determination of Own Resources (Capital) of Credit Organisations

According to the amendments, if the facts of economically unsubstantiated forming of sources of own resources (part thereof) are revealed in the course of assessment of assets and liabilities of the credit organisation, i.e. they are formed while investors use inappropriate assets, the Bank of Russia shall send an order to the credit organisation with a demand to record in the reports beginning with the nearest reporting date after getting the order the amount of own resources (capital) with the adjustment determined by the Bank of Russia.

Registered in the Ministry of Justice of the Russian Federation on July 17, 2006. Reg. No. 8091.

Direction of the Central Bank of Russia No. 1698-U of June 30, 2006 on the Amendments to the Direction of the Bank of Russia No. 1656-U of February 6, 2006 on the Actions When Revealing the Facts (Signs) of Forming of Sources of Own Resources (Capital) (Part Thereof) Using Inappropriate Assets

The amendments specify legal grounds for the territorial institutions of the Bank of Russia to send orders to credit organisations to correct own resources (capital) in cases of forming of sources of own resources (capital) (part thereof) while investors use inappropriate assets.

The Direction is entered into force 10 days after the day of its official publication in the Herald of the Bank of Russia.

Registered in the Ministry of Justice of the Russian Federation on July 17, 2006. Reg. No. 8090.

Letter of the Central Bank of Russia No. 98-T of July 18, 2006 on the Requirements to the Documents Submitted to the Federal Tax Service of Russia

Lists the normative acts for credit organisations to use as a guidance in the registration of their documents submitted to the authorised bodies of registration to enter information in the Joint State Register of Legal Entities.

Letter of the Central Bank of Russia No. 01-13-5/2534 of July 14, 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 that may act as guarantors under the promissory notes (claims rights under credit contracts) accepted as a security for the credits of the Bank of Russia, is amended as follows: since the name of the open-type joint-stock company Siberian Oil Company is changed into the open-type joint-stock company Gazprom Oil, the new name of the mentioned legal entity is provided instead of the previous one.

Decision of the Government of the Russian Federation No. 455 of July 22, 2006 on the Endorsement of the Rules of Use of the 0% VAT Rate When Selling Commodities (Works, Services) for Official Use of International Organisations and Their Representations Operating on the Territory of the Russian Federation

The 0% VAT rate applies to commodities (works, services) sold for official use of international organisations and their representations operating on the territory of the Russian Federation that are included in the list defined by the Ministry of Foreign Affairs together with the Ministry of Finance of Russia on the basis of provisions of international treaties envisaging exemption from the value added tax.

Organisations or independent entrepreneurs selling such commodities (works, services) shall draw invoices indicating the 0% VAT rate. A mark is entered in such invoices "For Official Needs of the International Organisation".

The Decision lists the documents permitting to draw such invoices, as well as the documents confirming the reasons of application of the 0% VAT rate. The value added tax is reimbursed on the basis of application signed by the head of the international organisation or its representation (the person authorised by him).

The Decision is entered into force from the day of its official publication and applies to legal relations emerging from January 1, 2001.