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 4.08.2003

Decision of the Government of the Russian Federation No. 451 of July 31, 2003 on the Governmental Commission for the Administrative Reform

The Governmental Commission for the Administrative Reform shall be the coordinating body formed to implement priority directions of the administrative reform endorsed by the Decree of the President of the Russian Federation No. 824 of July 23, 2003.

      One of the goals of the Commission is restriction of the interference of the state in economic activities of entrepreneurial subjects including the elimination of excessive state regulation, elimination of the redundancy of the functions and authority of the federal bodies of executive power. To execute the mentioned goal, the Commission provides for the preparation and examines draft federal laws, other normative legal acts necessary for the elimination of the elements of state regulation preventing development of market mechanisms of regulation of economic processes, as well as the system of self-regulation of such processes.

Issues of Application of the Regulation of the Central Bank of Russia No. 222-P of April 1, 2003 on the Procedure for Making Cashless Payments for the Natural Persons in the Russian Federation

Explains that the opening of bank accounts provides to natural persons opportunities to use all forms of cashless payments specified in the Civil Code of the Russian Federation (payment orders, letters of credit, checks, letters of collection) that, in the case of the deposit account, are available to the client only as payment operations, i.e. transfer of monetary recourses from the account or entry of the resources received in the bank in favour of the depositor.

      Regulation No. 222-P does not apply to the procedure of opening and use of accounts of natural persons opened to register operations involving bank cards.

Issues of Application of the Regulation of the Central Bank of Russia No. 2-P of October 3, 2002 on Cashless Payments in the Russian Federation

Explains the procedure of filling of the fields (62) "Received in the Bank" and (71) "Written off from Account" in the redrawn payment order when the payments are made by the credit organisation (branch) to the order of another credit organisation (branch) to the third credit organisation (branch).

      Also explains the procedure of filling of the mentioned fields of the summary payment order presented by participants of payments in the institution of the Bank of Russia when information is transmitted via communication channels.

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