Windfall tax for major companies to be introduced in Russia

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Monitoring of the Federal Legislation dated 4.06.2002

Decision of the Government of the Russian Federation No. 373 of May 31, 2002 on the Licensing of Activities in the Sphere of Fire Safety

The licensing applies to activities in prevention and elimination of fires, as well as works in erection, repair and servicing of the fire safety means of buildings and structures. The licensing is vested in the Ministry for Emergency Situations of Russia. The license is issued for 5 years. The earlier issued licenses preserve their force until expiry.

Decision of the Government of the Russian Federation No. 369 of May 31, 2002 on the Endorsement of the Rules of Determination of the Normative Price of the State or Municipal Property Due for Privatisation

Sets forth the procedure of determination of the minimum price for alienation of the state or municipal property due for privatisation. Specifies, in particular, that the normative price of the property complex of a unitary enterprise due for privatisation is determined on the basis of the data of the intermediary balance report according to the procedure specified for the calculation of the net assets of the unitary enterprise.

Order of the State Customs Committee of the Russian Federation No. 392 of April 22, 2002 on the Endorsement of the Rules of Keeping of the Register of Banks and Other Organizations Acting As Guarantors for the Customs Bodies

Sets forth the new procedure of keeping of the register of banks and other organizations by the State Customs Committee of the Russian Federation that may act as guarantors for the customs bodies to ensure the transfer of customs payments, as well as possible interest for the use of respites (extension schedules), fines and penalties, as well as the cost of commodities and transport vehicles in case of a violation of the customs rules. The changes pertain to the procedure of inclusion of the bank or other organization in the register. The Order conveys the new forms of documents submitted to the State Customs Committee of the Russian Federation to consider the issue of applicant inclusion in the register.
The Order is entered into force 30 days after its official publication.
Registered in the Ministry of Justice of the Russian Federation on May 21, 2002. Reg. No. 3461.

Letter of the Ministry of Taxation of the Russian Federation No. 04-4-08/1-64-P758 of April 24, 2002 on the Taxation of the Cost of Study

Item 3 of Article 217 of the Tax Code exempts from taxation compensations of employer expenses in professional development of employees. If the employer pays for the cost of study of its employees pertaining to the improvement of their educational (rather than professional) level, the mentioned payments, pursuant to Item 2 of Article 211 of the Tax Code, are registered with these employees in the determination of the taxable base subject to income tax from natural persons at the rate of 13 percent.

Letter of the Ministry of Taxation of the Russian Federation No. 14-1-04/627-M233 of March 28, 2002

VAT payer wishing to pay the tax on the quarterly basis with the amount of the receipts from the sale of commodities (works, services) within any one month of the quarter exceeding one million roubles must submit the declaration according to the general procedure, i.e. on the monthly basis beginning with the month where the excess of the amount of the receipts occurred. Thus, if the excess of the amount of receipts occurred in February, the declaration for the value added tax must be submitted for January no later than the 20th of the month following February, i.e. no later than March 20th. The penalties for the overdue payment of the tax for January are accrued from February 21.

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