Monitoring of the Federal Legislation dated 5.12.2001

Decision of the Government of the Russian Federation No. 841 of December 3, 2001 on the Endorsement of the Regulation on the Federal Mining and Industrial Supervision Agency of Russia

The Regulation lists the main tasks and functions of the State Mining and Industrial Supervision Agency of the Russian Federation. The agency is in charge of enforcement in the sphere of industrial safety, state mining enforcement, control over observation of the norms and rules of drawing up and implementation of the projects in extraction and processing of mineral resources and use of mineral deposits for other purposes; specifies the procedure of carrying out and carries out technical investigation of the reasons of accidents, incidents and cases of loss of explosive materials of industrial destination; keeps the register of hazardous industrial objects; arranges and carries out the licensing of the types of activities in the sphere of industrial safety; issues permissions for the use of technical devices at hazardous industrial objects, as well as permissions for the use of explosive materials of industrial destination and works with these materials.

Letter of the Ministry of Finance of the Russian Federation No. 16-00-14/488 of October 31, 2001 on the Procedure of Registration of Incentives and Compensation Payments

The Regulation on the composition of expenses now in effect envisages inclusion in the net cost of products (works, services) of incentives and compensation payments (benefits to skilled medical workers) specified in the legislation. In accounting work, the given payments are referred to the category of expenses of the organization and are registered on accounts of production expenses.

Letter of the Ministry of Finance of the Russian Federation No. 16-00-14/467 of October 16, 2001 on the Criteria for Referring Material and Production Reserves to Fixed Assets

In accounting work, the material and production reserves are assumed to be the assets used as raw materials, as well as any assets listed in the Civil Code of the Russian Federation featuring a material and tangible form and the term of useful life of less than 12 months.

Letter of the Ministry of Taxes and Revenues of the Russian Federation No. 04-1-06/1788-Ya731 of September 28, 2001 on the Exemption from the Income Tax from Natural Persons Granted to the Buyer of a Flat

Explains how the citizens who did not use the income tax exemption at the purchase of a flat or house may use the exemption from the income tax for natural persons according to the procedure and in amounts specified in Article 220 of the Code (property tax exemption).

Decision of the Presidium of the Higher Arbitration Court of the Russian Federation No. 1321/01 of October 9, 2001 on the Payment of the Sales Tax by Independent Entrepreneurs

Presidium of the Higher Arbitration Court of the Russian Federation has found out that the conclusion of the lower court instances that introduction of the sales tax creates less favorable conditions of taxation for an independent entrepreneur as compared to those in effect as of the moment of his state registration is not based on the law.
The conclusion that entrepreneur switchover to the simplified system of taxation is an obstacle for paying the sales tax is also recognized as groundless.
Also groundless is considered to be the conclusion of the cassation instance stating that the simplified system of registration of economic operations used by the entrepreneur prevents from registration of operations subject to the sales tax because it does not envisage a separate registration of commodities (works, services) subject to taxation.