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 21.10.2003

Decision of the Government of the Russian Federation No. 635 of October 18, 2003 on the Invalidation of Item 7 of the Special Terms of Purchase of Radio Electronic and High-Frequency Devices

The special terms of purchase of radio electric and high-frequency devices are being brought in compliance with the legislation. According to Item 7, the selling of radio electronic and high-frequency devices is arranged by producers, suppliers and trade organisations on the basis of permissions issued by the state enforcement bodies in charge of communication. Permissions are not required for the selling of radio reception devices intended for individual reception of TV and radio broadcasting programs, transmissions and signals of the personal radio paging devices (radio pagers), as well as items of household equipment other than those containing radio emission devices.
On April 11, 2002, the Ruling of the Board of Cassation of the Supreme Court of the Russian Federation No. KAS 02-165 invalidated Item 7 of the mentioned document since the legislator did not empower the Government of the Russian Federation with the right to introduce permissions to sell radio electric and high-frequency devices and the norm of Item 7 was adopted in excess of authority available with the Government of the Russian Federation.

Decision of the Government of the Russian Federation No. 633 of October 18, 2003 on the Reduction of the Rate of the Special Duty for Potato Starch Imported to the Customs Territory of the Russian Federation

The rate of the import customs duty for potato starch (code according to the Foreign Trade Commodity Nomenclature of the Russian Federation 1108 13 000 0) is fixed to amount to 20% of the customs cost, however, not less than EUR 0.08 per kg (earlier, 30% of the customs cost, however, not less than EUR 0.11 per kg).
The Decision is entered into force one month after the day of its official publication.

Decision of the Government of the Russian Federation No. 632 of October 18, 2003 on the Endorsement of the Rate of the Import Customs Duty for Silicon Other

The rate of the import customs duty for silicon other (code according to the Foreign Trade Commodity Nomenclature of the Russian Federation 2804 69 000 0) is fixed in the amount of 20% of the customs cost, however, not less than EUR 0.16 per kg (earlier, 5% of the customs cost).
The Decision is entered into force one month after the day of its official publication for 9 months.

Decision of the Government of the Russian Federation No. 631 of October 17, 2003 on the Amendment to the List of the Seasonal Industries and Types of Activities Applied to Grant a Respite or Extension Schedule for the Tax Payment

The mentioned list is extended to include new section "Light Industries" including seasonal production of items of natural fur in organisations of the fur industry.

Order of the Ministry of Finance of the Russian Federation No. 84n of September 16, 2003 on the Endorsement of the State Control Procedure for the Import to the Russian Federation and Export from the Russian Federation of Natural Diamonds and Brilliants

Introduces the state control rules for the import and export of natural diamonds and brilliants. The goal of the state control is the checking by the state controllers of the Ministry of Finance of Russia of observation of the legislation in the foreign-trade deals with natural diamonds and brilliants.
Registered in the Ministry of Justice of the Russian Federation on October 13, 2003. Reg. No. 5172.

Letter of the Ministry of Finance of the Russian Federation No. 16-00-17/31 of September 29, 2003

Explains that organisations must submit accounting reports according to the forms developed and adopted by them. Submission of accounting reports on recommended specimens shows an incomplete fulfilment by organisations of the requirements of the normative documents on accounting work. Thus, organisations must have introduced independently amendments to their adopted forms of accounting reports for the year 2003 taking into account their specifics.

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