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 30.05.2002

Decision of the Government of the Russian Federation No. 355 of May 28, 2002 on the Amendments to the Decision of the Government of the Russian Federation No. 1198 of October 28, 1999

Sets forth that the rates of customs duties do not apply to ferrous metals (codes according to the Foreign Trade Commodity Nomenclature 7201-7203, 7205-7229) exported from the territory of the Russian Federation outside the member-states of the Customs Union agreements.
Abandons the Decision of the Government of the Russian Federation No. 138 of March 4, 2002 endorsing the rates of export customs duties for individual types of items of ferrous metals in the amount of 3% of the customs cost.
The Decision is entered into force one month after the date of its official publication.

Decision of the Government of the Russian Federation No. 348 of May 27, 2002 on the Endorsement of the Regulation on the Licensing of Activities in the Development and/or Production of the Means of Protection of Confidential Information

The licensing applies to activities of legal entities and independent entrepreneurs in the development and/or production of the means of protection of confidential information. The licensing is vested in the State Technical Commission of the President of the Russian Federation and in special, listed cases, the Federal Agency of Governmental Communication and Information of the President of the Russian Federation. Effective time period of the license is 5 years.

Decision of the Ministry of Labour of the Russian Federation No. 27 of April 18, 2002 on the Endorsement of the Explanation on Some Issues of Pension Support to Independent Entrepreneurs Having Switched Over to the Payment of the Uniform Imputed Income Tax in Compliance with the Federal Law on the Uniform Imputed Income Tax for Certain Types of Activities

The total length of service for conversion of the pension rights into the estimated pension capital includes the period of independent work with the paid uniform imputed income tax, as well as the periods of work under the labour contract with independent entrepreneurs paying the given tax. The Decision explains the procedure of calculation of the average monthly earnings (income) to determine the estimated pension capital and the procedure of confirmation of the total length of service for the mentioned categories of citizens.
Registered in the Ministry of Justice of the Russian Federation on May 28, 2002. Reg. No. 3472.

Decision of the Federal Commission for Securities Market No. 15/ps of April 27, 2002 on the Minimum Cost of Property Comprising the Shared Investment Fund Making the Shared Investment Fund Formed

Sets forth the requirements to the minimum cost of property of the open-type, closed-type and interval shared investment funds. The requirements mentioned in the Decision comply with the practice of regulation of collective investment schemes in the countries with developed financial markets.
Registered in the Ministry of Justice of the Russian Federation on May 28, 2002. Reg. No. 3471.

Order of the State Standards Committee of the Russian Federation No. 107/109 of April 19, 2002 on the Invalidation of the Instruction on the Procedure of Labelling with Compliance Marks with Registered Information Protected Against Forgery of Commodities and Products Sold on the Territory of the Russian Federation and on Registration of Their Flow

Invalidates the Instruction endorsed by the Order of the Ministry of Trade of the Russian Federation No. 200 of December 30, 1998 and the Order of the State Standards Committee of the Russian Federation No. 30 of December 29, 1998.
Registered in the Ministry of Justice of the Russian Federation on May 27, 2002. Reg. No. 3469.

Decision of the Ministry of Labour of the Russian Federation No. 21 of March 25, 2002 on the Endorsement of the Explanation on the Procedure of Application of Item 2 of Article 31 of the Federal Law on Labour Pensions in the Russian Federation

The terms and norms of pension support adopted before January 1, 2002 where the Law on labour pensions of December 17, 2001 does not envisage other legal solution or does not regulate the given sphere of pension legal relations at all apply also after January 1, 2002.
In particular, obligatory for application are the terms of assigning of the early pension to the unemployed envisaged in the Law of the Russian Federation No. 1032-I of April 19, 1991 on the employment of population in the Russian Federation. Also remaining in effect is the procedure of granting of social benefits including those pertaining to reduced pension age for individual categories of citizens.
Registered in the Ministry of Justice of the Russian Federation on May 22, 2002. Reg. No. 3467.

Direction of the Central Bank of Russia No. 1152-U of May 24, 2002 on the Amendments to the Direction of the Bank of Russia No. 1025-U of August 27, 2001 on the Procedure of Initiation of the Revocation of Licenses for Bank Operations from Credit Organizations Pursuant to Part 1 and Part 2 of Article 20 of the Federal Law on Banks and Banking Activities

In cases of multiple violations within one year of the requirements envisaged in individual norms of the Law on the countermeasures against legalization (laundering) of incomes obtained in a criminal way, the territorial institution of the Bank of Russia may prepare and send to the Bank of Russia request on the revocation of the license from the credit organization.
The Direction is entered into force from the moment of publication in the Herald of the Bank of Russia.

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