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 27.09.2002

Decision of the Government of the Russian Federation No. 700 of September 24, 2002 on the Amendments to the Rules of Sale of Wood on the Stump in the Forests of the Russian Federation Endorsed by the Decision of the Government of the Russian Federation No. 551 of June 1, 1998

The changes pertain to the procedure of granting the right of delay to bring out the logged wood - up to 6 months, as well as the right to delay wood felling under the felling tickets with effective period expiring in winter - until the snow melts away.
The delay for wood felling is granted by the decision of the federal body of forestry management in coordination with the body of executive power of the subject of the Russian Federation in view of the weather conditions in the absence of opportunities to change the felling area.

Letter of the Ministry of Taxation of the Russian Federation No. 02-5-11/190-AB939 of August 28, 2002 on the Capital Investment Exemption from the Profit Tax

Explains the procedure of granting the profit tax exemption when the profit is allocated to finance capital investments. The exemption may be granted in cases of actually made (covered) expenses at the expense of the profit left over at the disposal of the enterprise. The Letter provides the formula to calculate the maximum amount of the capital investment exemption that an organization may enjoy proceeding from the condition of exemption restriction to the amount of revealed balance profit in the reported period.

Letter of the Pension Fund of Russia No. KA-16-19/6161 of July 10, 2002 on the Application of the Federal Law No. 167-FZ of December 15, 2001 on the Obligatory Pension Insurance in the Russian Federation

Explains that the norms specified in the Federal Law No. 167-FZ of December 15, 2001 on obligatory pension insurance in the Russian Federation do not apply to the servicemen, persons of the rank-and-file and officers of the bodies of the Ministry of Internal Affairs, personnel of the bodies of the tax police, criminal execution system, customs bodies, judges, prosecutors and investigators with special knowledge. The pension support (life-time subsistence) for these persons is provided in compliance with special normative legal acts of the Russian Federation regulating the given relations.
Federal courts and prosecutors' bodies do not include in the taxable base for calculation of the tax due to the federal budget amounts of the monetary subsistence of the judges, prosecutors and investigators with special knowledge. The amount of the monetary subsistence of the judges, prosecutors and investigators with special knowledge is not included in the base for calculation of insurance contributions for obligatory pension insurance.

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