Monitoring of the Federal Legislation dated 2.12.2008

Federal Law No. 225-FZ of December 1, 2008 on the Amendments to the Federal Law on the Fund of Assistance of Reformation of the Housing and Communal Sector and Individual Legislative Acts of the Russian Federation

Promotes housing construction and supports the housing market in the present-day situation at financial markets.

Order of the Ministry of Finance of the Russian Federation No. 115n of October 20, 2008 on the Amendments to the Order of the Ministry of Finance of the Russian Federation No. 100n of August 8, 2005

Brings the rules of placing of resources of insurance reserves in compliance with the law regulating activities of mutual insurance companies.

Order of the Federal Tax Service No. MM-3-3/478@ of October 21, 2008 on the Amendments to the Order of the Ministry of Taxation of Russia No. BG-3-23/13 of January 15, 2002 on the Endorsement of the Forms of Applications of the Foreign Organisation to Return the Amounts of Taxes Collected from a Source in the Russian Federation

Profit tax collected from foreign organisations and covered by international treaties is returned upon submission of the application and other documents.

Letter of the Federal Tax Service No. ShS-6-3/862@ of November 28, 2008 on the Procedure of Application of VAT Exemptions for the Objects of Immovable Property (Fixed Assets)

From January 1, 2006, there exists a special procedure of restoration of VAT amounts for the cases of construction of objects of immovable property (fixed assets).