Windfall tax for major companies to be introduced in Russia

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Monitoring of the Federal Legislation dated 26.05.2004

Message of the President of the Russian Federation to the Federal Assembly of the Russian Federation of May 26, 2004

Among the most vital tasks emphasises providing the citizens with affordable housing, modernisation of the public health services, development of domestic education and development of the transport infrastructure.

Special attention is paid to the further reformation in the tax sphere. The tax system must become non-cumbersome for business, fair for all economic subjects. The Message emphasises the necessity of further reduction of the rates of the value added tax, uniform social tax and exemption of advance payments from taxes.

Letter of the Central Bank of Russia No. 29-5-1-13/1283 of April 1, 2004 "Description of the Bank Notes of the Bank of Russia of 1997 Modified in 2004"

To improve protection of currency notes against forgery, introduces for circulation in the Russian Federation in 2004 the notes of 1997, modification of 2004, with the nominal value of 10, 50, 100, 500 and 1,000 roubles. The modified bank notes have formats, colour and design pattern similar to the bank notes of the Bank of Russia of 1997 of appropriate nominal values. The facing side of the modified bank notes bears the text "Modification of 2004" on the narrow coupon field on the right of the relief signs for the people with impaired vision. The Letter describes the differences of the new modified bank notes from the notes of 1997.

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