Windfall tax for major companies to be introduced in Russia

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Monitoring of the Federal Legislation dated 22.01.2002

Decree of the President of the Russian Federation No. 60 of January 18, 2002 on the Invalidation of Items 8 and 10 of the Decree of the President of the Russian Federation No. 2063 of November 4, 1994 on the Measures of State Regulation of the Market of Securities in the Russian Federation

Invalidates the provisions on the forming of the regional commissions on securities and the stock market in the subjects of the Russian Federation.
The Decree is entered into force from the day of its official publication. The text of the Decree is published in Rossiyskaya Gazeta on January 22, 2002, No. 12.

Decision of the Government of the Russian Federation No. 23 of January 18, 2002 on the Prolongation of the System of Licensing of the Export of Some Items of Steel from the Russian Federation to the Member-States of the European Communities

The effective time period of the system of licensing of the export of items of steel from the Russian Federation to the member-states of the European communities is extended for the period from January 1 through June 30, 2002 or till conclusion of the new agreement on the sales of some items of steel. The volume of quotas fixed for the year 2001 is preserved for the given period in proportion to the effective time period of the system of licensing.

Order of the Ministry of Finance of the Russian Federation No. 120n of December 28, 2001 on the Prolongation for the Year 2002 of the Effective Time Period of the Order of the Ministry of Finance of the Russian Federation No. 9n of February 2, 1999 on the Endorsement of the Rules of Drawing Up and Issue in 1999 of Permissions to Open the Accounts of Organizations Financed out of the Federal Budget to Register the Resources Obtained from Entrepreneurial and Other Profitable Activities

Extends for the year 2002 the effective time period of the procedure of drawing up and issue by the bodies of the federal treasury of the Ministry of Finance of the Russian Federation of permissions to open accounts in the institutions of the Bank of Russia and credit organizations by the budget institutions financed at the expense of the resources of the federal budget on the Balance Account 40302 "Resources Received for Temporary Use of the Budget Organizations"
Registered in the Ministry of Justice of the Russian Federation on January 17, 2002. Reg. No. 3169.

Order of the State Customs Committee of the Russian Federation No. 1232 of December 25, 2001 on the Export and Import of Ethyl Alcohol from All Kinds of Raw Materials

In view of the termination from January 1, 2002 of the time period of the temporary prohibition to import ethyl alcohol from all types of raw materials, fixes the procedure and terms of import and export of ethyl alcohol classified under subheadings 2207 10 000 0, 2207 20 000 0, 2208 90 910 0, 2208 90 990 0 of the Foreign Trade Commodity Nomenclature of the Russian Federation.
The export and import of ethyl alcohol is permitted only in cases when the importers (exporters) are unitary enterprises and companies with at least 51% of the stocks belonging to the state and having appropriate licenses.
The Order does not apply to the ethyl alcohol moved under the transit customs regime.
Registered in the Ministry of Justice of the Russian Federation on January 16, 2002. Reg. No. 3163.

Order of the State Customs Committee of the Russian Federation No. 1233 of December 25, 2001 on the Amendments to the Orders of the State Customs Committee of Russia No. 1170 of December 15, 2000 and No. 831 of August 21, 2001

In view of the termination from January 1, 2002 of the effective time period of the temporary prohibition to import ethyl alcohol from all types of raw materials, amends the procedure and particulars of export and import of alcoholic and alcohol-containing food products. Extends the list of products permitted for import to the territory of the Russian Federation under the condition of presentation to the customs bodies by the importer of the certified copies of licenses issued by the Ministry of Taxes and Revenues of the Russian Federation for the import, storage and supplies of alcoholic and alcohol-containing food products.
Registered in the Ministry of Justice of the Russian Federation on January 16, 2002. Reg. No. 3161.

Direction of the Central Bank of Russia No. 1098-U of January 11, 2002 on the Amendments to the Instruction of the Bank of Russia No. 59 of March 31, 1997 on the Application of Sanctions to Credit Organizations for the Violation of the Norms of Prudence of Activities

Provides the new wording of the Instruction of the Bank of Russia No. 59. Extends the list of the main forced measures now including the requirement to bring in compliance the amount of own resources (capital) and the amount of the registered capital, as well as the requirement on the reorganization of the credit organization, including the requirement on submission and execution of the plan of measures of the reorganization.
The Direction is entered into force from the moment of its publication in the Herald of the Bank of Russia. The text of the Direction is published in the Herald of the Bank of Russia on January 17, 2002, No. 4.

Direction of the Central Bank of Russia No. 1095-U of January 11, 2002 on the Particulars of the Procedure of Registration in Accounting Work by Credit Organizations of Operations with the Bonds of the Russian Federation Due for Redemption by the Bank of Russia

Specifies the particulars of recording in accounting work of operations by credit organizations with the bonds of the Russian Federation available in circulation at the organized market of securities. Provides the form and procedure of filling out the personal logbook pertaining to repurchase deals kept for the purposes of analytical registration of the bonds in repurchase deals.
The Direction is entered into force from the moment of publication in the Herald of the Bank of Russia. The text of the Direction is published in the Herald of the Bank of Russia on January 17, 2002, No. 4.

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