Windfall tax for major companies to be introduced in Russia

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Monitoring of the Federal Legislation dated 22.10.2003

Decision of the Government of the Russian Federation No. 638 of October 20, 2003 on the System of Reports Submitted to the Federal Body of Executive Power in Charge of Regulation of Natural Monopolies

The system of reports submitted by organisations engaged in activities in the sphere of regulated price forming in electric power industry includes reports drawn up in compliance with the Federal Law on accounting work, state statistical reports, as well as state reports drawn up to the forms endorsed by the federal body of executive power in charge of regulation of natural monopolies.

Decision of the Government of the Russian Federation No. 634 of October 18, 2003 on the Endorsement of the Forms of Reports of the Resources of Accumulated Pensions and Financial Results of Their Investing Published by the Ministry of Finance of the Russian Federation

Institutes the forms of the reports of resources of accumulated pensions and financial results of their investing published annually by the Ministry of Finance of Russia in mass media.

Decision of the Government of the Russian Federation No. 629 of October 16, 2003 on the Authority to Sign Agreements on Debt Restructuring Granted to the Territorial Bodies of the Ministry of Taxation of the Russian Federation

Territorial bodies of the Ministry of Taxation of Russia at the place of location of agricultural producers enjoy the authority to sign agreements on debt restructuring on behalf of the creditors entitled to collect from these producers the debts in obligatory payments to the federal budget and the state non-budgetary funds inasmuch as they pertain to the payments controlled by these bodies.

Order of the Ministry of Transport of the Russian Federation No. 195 of October 2, 2003 on the Endorsement of the Regulation on the Procedure of Naming of the Vessels of the Internal Water Transport

The name of the vessel is assigned by his owner upon coordination with the State Service of the River Fleet of the Ministry of Transport of Russia. The name must be in Russian letters. It is not recommended to use more than two words in the name. The name may be changed when the property right is transferred, if there two or more vessels of the same name in the closed basin, adjacent basins or of the mixed river- and sea-going type.
Registered in the Ministry of Justice of the Russian Federation on October 17, 2003. Reg. No. 5181.

Letter of the Ministry of Finance of the Russian Federation No. 15-05-29/1018 of September 22, 2003

Explains that the permission of the Bank of Russia is not required for the currency operations to grant commercial credits in foreign currencies by resident legal entities to resident legal entities (not being credit organisations). To make payments in foreign currencies between resident legal entities in all other cases, it is necessary for the payer to have the permission of the Bank of Russia for each individual currency operation.

Letter of the Ministry of Taxation of the Russian Federation No. 22-2-16/20156-azh406 of September 15, 2003 on the Procedure of Application of the Taxation System in the Form of the Uniform Imputed Income Tax

Independent entrepreneurs and organisations rendering on the territory of the Moscow Province with the uniform imputed income tax highway transportation services in passenger and cargo transportation, operating not more than 20 vehicles and not registered in the tax bodies of this subject of the Russian Federation must register at the place of the mentioned activities within not more than five days from the its beginning.
When carrying out from January 1, 2003 on the territory of the subjects of the Russian Federation of the types of entrepreneurial activities subject to the uniform imputed income tax, the payers loose their right for the simplified taxation system both for the types of entrepreneurial activities already transferred to the uniform imputed income tax and for the types of activities other than those subject to this tax.

Letter of the Ministry of Finance of the Russian Federation No. 03-01-01/15-245 of August 20, 2003

The recipient of the budget resources may make advance payments for the supplies of products (works, services) within the limits of the budget obligations on the terms and in the amount defined by the Government of the Russian Federation. The mentioned payment for the products (works, services) to be supplied in the following fiscal year is not subject to the definition of the "use of the budget resources for other than designated purposes".

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