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 18.04.2003

Decision of the Government of the Russian Federation No. 222 of April 16, 2003 on the Amendments to the Decision of the Government of the Russian Federation No. 369 of May 31, 2002

Changes the rules of determination of the normative price of the state or municipal property due for privatisation. If the federal property includes less than 2% of the stocks of the joint-stock company with the balance cost of the fixed assets as of the most recent reporting date being not greater than Rbl 500 million, the normative price of these stocks is fixed to equal the nominal cost of 1 stock multiplied by the number of stocks due for privatisation. A similar rule is envisaged for the determination of the normative price of the stocks of joint-stock companies owned by the subjects of the Russian Federation or available in the municipal property.

Decision of the Government of the Russian Federation No. 217 of April 14, 2003 on the Creation, Reorganisation and Liquidation of the Federal State Unitary Enterprises Based on the Right of Economic Management

Decision on the creation, reorganisation and liquidation of the federal state unitary enterprises based on the right of economic management is taken by the Government of the Russian Federation. Reorganisation of the mentioned enterprises in the form of incorporation of the branches in their creating enterprises is carried out on the basis of the Decision of the Ministry of Property Relations of the Russian Federation taken upon coordination with the federal body of executive power in charge of the coordination and regulation of activities in the respective industry (sphere of management).

Decision of the Management Board of the Pension Fund of Russia No. 33p of March 19, 2003 on the Endorsement of the Procedure of Registration in the Territorial Bodies of the Pension Fund of Russia of Insurers Making Payments to Natural Persons

Defines the rules of obligatory registration in the territorial bodies of the Pension Fund of Russia of organisations, independent entrepreneurs and natural persons acting as insurers in obligatory pension insurance making payments to natural persons. Provides the forms of applications for registration and their filling procedure, as well as lists other documents to be submitted to the body in charge of the registration. The registration must be carried out within 30 days from the day of the state registration of the organisation or the day of conclusion of the contracts by employer natural persons.
Registered in the Ministry of Justice of the Russian Federation on April 16, 2003. Reg. No. 4425.

Direction of the Central Bank of Russia No. 1264-U of March 28, 2003 on the Procedure of Accepting of Foreign Currencies in Cash from the Customs Bodies of the Russian Federation by the 1st Operative Department of the Central Bank of the Russian Federation (Bank of Russia)

Accepting by OPERU-1 from the customs bodies of the Russian Federation of foreign currencies in cash and entering it on foreign currency accounts in the Federal Treasury Directorate of the Ministry of Finance of the Russian Federation is carried out in compliance with the contract concluded between the Central Bank of Russia, Ministry of Finance of the Russian Federation and the State Customs Committee of the Russian Federation. The Direction defines the main terms of accepting of the foreign currencies in cash and the procedure of accepting of the bags with foreign currencies in cash.
The Direction is entered into force 10 days after the day of its official publication in the Herald of the Bank of Russia.
Registered in the Ministry of Justice of the Russian Federation on April 16, 2003. Reg. No. 4424.

Order of the Ministry of Internal Affairs of the Russian Federation No. 199 of March 26, 2003 on the Endorsement of the Blank Form of the Application for the Work Permission to a Foreign Citizen or Stateless Persons and the Blank Form of the Work Permission to a Foreign Citizen or Stateless Person

Before the new blank forms of the work permissions to foreign citizens or stateless persons are made, the permissions shall be issued on the blank form of the confirmation of the right for work endorsed by the Decree of the President of the Russian Federation No. 2146 of December 16, 1993 on the attraction and use of foreign work-force in the Russian Federation.
Registered in the Ministry of Justice of the Russian Federation on April 15, 2003. Reg. No. 4422.

Order of the Ministry of Taxation of the Russian Federation No. BG-3-29/159 of April 2, 2003 on the Endorsement of the Procedure of Sending of the Tax Payment Order, Taking of the Decision on the Collection of the Tax, Fee, As Well As Penalty at the Expense of the Monetary Resources of the Taxpayer (Payer of the Fee) Organisation or Tax Agent Organisation on Accounts in Banks and the Decision on Suspension of Operations on Taxpayer (Payer of the Fees) or Tax Agent Accounts in the Bank

Defines the rules of sending of orders and decisions pertaining to forced collection of tax debts by the tax bodies. The tax bodies are ordered to send the tax payment order no later than 15 days after the beginning of the time of payment (the three months term specified in the Tax Code of the Russian Federation is the limiting one).
The time of execution of the tax payment order sent to the taxpayer (payer of the fees) or tax agent must not be greater than 10 calendar days from the day of receiving. Execution in excess of this time is permitted only by the Ministry of Taxation of the Russian Federation.
The decision on suspension of operations on the taxpayer (payer of the fees) or tax agent accounts in the bank pertains to all opened accounts of the mentioned persons subject to collection of the tax (fee), as well as penalty.
The new procedure does not apply to the documents adopted by the tax body before its entry into force.

Order of the Ministry of Taxation of the Russian Federation No. BG-3-23/150 of March 28, 2003 on the Endorsement of the Methodology Recommendations for the Tax Bodies on the Application of Individual Provisions of Chapter 25 of the Tax Code of the Russian Federation Pertaining to the Particulars of Taxation of the Profits (Incomes) of Foreign Organisations

Specifies the particulars of application of individual provisions of Chapter 25 of the Tax Code of the Russian Federation pertaining to taxation of profits of foreign organisations.
Explains that the notion of the "permanent representation" for taxation purposes is not the one of organisational and legal significance, but the one qualifying the activities of a foreign organisation pertaining to the duty of a foreign organisation to pay the tax on the profit in the Russian Federation. The signs of the permanent representation are: presence of a separate division or any other place of activities of the foreign organisation in the Russian Federation, carrying out of entrepreneurial activities on the territory of the Russian Federation by the foreign organisation, carrying out of such activities on the regular basis.
The Order explains the issues of qualifying the profit of the foreign organisation in the Russian Federation as the one of a particular permanent representation in cases when the company has several divisions rendering services in different regions.

Letter of the Ministry of Taxation of the Russian Federation No. MM-6-09/439@ of April 15, 2003 on the Issue of the Certificate of Registration to the Legal Entities Registered after July 1, 2002

If the place of the state registration and the place of registration of the legal entity by the tax bodies coincide, the certificate of the state registration of the legal entity and the certificate of the registration in the tax body are issued simultaneously.

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