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 27.12.2002

Federal Law No. 176-FZ of December 24, 2002 on the Federal Budget for the Year 2003

Endorses the federal budget for the year 2003 with expenses amounting to Rbl 2,345,641.4 million and incomes, to Rbl 2, 417, 791.8 million proceeding from the level of inflation (consumer prices) of 10%-12% (December 2003 against December 2002).
The incomes of the federal budget for the year 2003 includes receipts from the uniform social tax directed to the budget of the Pension Fund of the Russian Federation to pay out the basic part of the labour pension.
The excess of incomes over expenses in the amount of Rbl 72,150.4 million is allocated in 2003 to redeem the state debt of the Russian Federation - Rbl 51,415.2 million and to replenish the financial reserve - Rbl 20,735.2 million.
The Federal Law is entered into force from the day of its official publication.

Decision of the Government of the Russian Federation No. 926 of December 25, 2002 on the All-Russia Public Charitable Fund of Support of Servicemen (Employees) and Civilian Personnel of the Armed Forces of the Russian Federation, Other Troops and Military Formations, Special Services and Law Enforcement Bodies of the Russian Federation "National Military Fund"

The mentioned Fund is included in the charitable organizations providing lumpsum material aid to natural persons in the form of humanitarian or charitable aid (in the monetary form and in kind) with amounts of it exempted from the income taxes from natural persons.

Order of the Government of the Russian Federation No. 1834-r of December 25, 2002

The State Statistics Committee of the Russian Federation is ordered to submit on the monthly basis no later than the 10th of the month following the reported one to the Ministry of Economic Development of the Russian Federation information on the consumer price index for commodities and services in the Russian Federation to determine the deflator coefficient.
The Ministry of Economic Development of the Russian Federation must publish in Rossiyskaya Gazeta on the annual basis no later than November 20 coordinated with the Ministry of Finance of the Russian Federation deflator coefficient for the following year.

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