Monitoring of the Federal Legislation dated 14.01.2004

Order of the Ministry of Taxation of the Russian Federation No. BG-3-29/577 of October 29, 2003 on the Endorsement of the Rules of Writing off of the Debt in Penalties and Fines of Agricultural Producers

The writing off of the debt according to the information of the records of the tax bodies not redeemed as of January 1, 2002 is vested in the territorial body of the Ministry of Taxation of the Russian Federation at the place of location of the agricultural producers before April 1, 2004. The debt is written off on the basis of the application submitted before March 1, 2004 to the interagency territorial commission on financial rehabilitation of agricultural producers and on the basis of the new agreement on the restructuring concluded according to the Federal Law on the financial rehabilitation of agricultural producers.
Registered in the Ministry of Justice of the Russian Federation on January 9, 2004. Reg. No. 5389.

Order of the State Customs Committee of the Russian Federation No. 1377 of December 3, 2003 on the Submission of the Deal Certificate in Cases of Declaring and Release of Commodities

Submission of the deal certificate and indication of its requisites in the customs declaration is necessary when the commodities are placed under the declared customs regime if the moving of the commodities across the customs border or change of their customs regime is being done on the basis of the contract where the requirement to draw up the deal certificate applies.
It is not necessary to resubmit the deal certificate and indicate its requisites if the deal certificate has been submitted for the commodities placed under the earlier declared customs regime on the basis of the same contract. Submission of the mentioned information is also not required when declaring the commodities not envisaging any payment or other consideration under the contract concluded when committing the foreign trade deal.
The Order is entered into force from January 1, 2004.
Registered in the Ministry of Justice of the Russian Federation on January 8, 2004. Reg. No. 5388.

Direction of the Central Bank of Russia No. 1351-U of December 4, 2003 on the Amendments to the Regulation of the Bank of Russia No. 199-P of October 9, 2002 on the Procedure of Carrying out of Cash Operations in Credit Organisations on the Territory of the Russian Federation

Specifies the procedure of cash support provided to credit organisations by other credit organisations. Envisages opportunities of providing cash support and cash collection for the software and hardware complexes installed by credit organisations by credit and other organisations engaged in cash collection operations. According to the amendments, credit organisations enjoy opportunities to provide cash services to legal entities using one cash employee while empowering him with the duty of the accountant worker.
The amendments also specify the procedure of carrying out cash operations in additional offices of credit organisations also amending the procedure of organisation of work cash departments outside the cash centre of credit organisations.
The Direction excludes the norms defining the procedure of accounting work for cash operations.
Registered in the Ministry of Justice of the Russian Federation on January 6, 2004. Reg. No. 5378.

Letter of the Central Bank of Russia No. 183-T of December 29, 2003

Besides information submitted by credit organisations to the Committee for Financial Monitoring of Russia in the framework of the report in the electronic form, credit organisations may send other information on paper medium to the authorised body.

Letter of the Central Bank of Russia No. 184-T of December 30, 2003 on the Procedure of Simultaneous Submission by Credit Organisations of Information Drawn up According to the Reporting Form 155 for January and February of 2004

Pursuant to the entry into force from March 1, 2004 of the Regulation of the Bank of Russia No. 232-P of July 9, 2003 on the procedure of building of reserves for possible losses by credit organisations, credit organisations are ordered to submit simultaneously information of Reporting Form 155 for January and February of 2004 before March 10, 2004.

Information Letter of the Central Bank of Russia No. 26 of December 29, 2003 "Issues of Application of the Currency Legislation"

Explains that foreign currencies transferred to the Russian Federation after the closing of the currency account of the representation of the resident legal entity in a foreign bank is not subject to obligatory sale at the internal currency market of the Russian Federation.
Submission to the authorised bank by the client of the report envisaged in the Regulation of the Central Bank of Russia No. 62 of June 25, 1997 on the procedure of buying and handing out of foreign currency to pay for the trip expenses with unfilled Columns 10-12, if there is an overspending of foreign currency in cash with the person sent on business trip, is a violation of the report requirements. Information of it must be sent by the authorised bank to the territorial institution of the Bank of Russia supervising its activities.
It is not necessary for the resident legal entity to get the permission of the Bank of Russia to carry out the currency operation pertaining to the flow of capital in cases of purchase of stocks in the currency of the Russian Federation issued by the non-resident legal entity or shares in the registered capital of the non-resident legal entity not being a joint-stock company by contributing to the mentioned registered capital of the stocks in the currency of the Russian Federation issued by resident legal entities.

Summary of the Practice of Application of the Direction of the Bank of Russia No. 1297-U of June 21, 2003 on the Procedure of Drawing up of the Card with the Signature Specimens and the Seal

Explains that the Direction of the Central Bank of Russia No. 1297-U does not envisage submission of the cards by the client to the bank certified by the parent organisation, as well as uncertified cards for the accounts of the ministries and agencies. The Direction does not contain requirements to the format of the blank card with the signature specimens and the seal and does not envisage the making of the printed card.
If the card was not provided at the opening of the account to the natural person by the bank on the basis of the bank deposit contract, it is necessary to present the card with the signature specimens and the seal to carry out payment operations on the given account. The bank may collect a charge for the drawing of the card.
The head of the legal entity may not grant the right of the first signature to the chief accountant.