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 14.07.2004

Decree of the President of the Russian Federation No. 870 of July 11, 2004 "Issues of the Federal Security Service of the Russian Federation"

The Federal Security Service forms new independent divisions - services - instead of the departments. The services shall consist of departments and bureaus. Servicemen of the bodies of the Federal Security Service before the termination of the staff organisation measures shall continue execution of their service duties in the earlier occupied positions.

The Decree is entered into force from the day of its signing.

Decree of the President of the Russian Federation No. 868 of July 11, 2004 "Issues of the Ministry of the Russian Federation of Civil Defence, Emergency Situations and Elimination of Consequences of Natural Disasters"

The Ministry of the Russian Federation of Civil Defence, Emergency Situations and Elimination of Consequences of Natural Disasters is a federal body of executive power in charge of the working out and implementation of the state policy, normative-and-legal regulation, as well as supervision and control in the sphere of civil defence, protection of population and territories against emergency situations of natural and technical nature, fire safety and people's safety on water objects.

The system of the Ministry of Emergency Situations of Russia include the State Fire Service, civil defence troops, State Inspection of Small Vessels, as well as the rescue formations, educational, scientific research, medical, sanatoria-and-resort and other institutions and organisations supervised by the Ministry of Emergency Situations of Russia.

Decision of the Government of the Russian Federation No. 343 of July 9, 2004 on the Paying out in 2004 to Individual Categories of Citizens of the Russian Federation of the Preliminary Compensation (Compensation) for the Deposits in the Savings Bank of the Russian Federation and Deposits (Contributions) in the State Insurance Organisations (Open-Type Joint-Stock Company Russian State Insurance Company and the Companies of the Rosgosstrakh System)

Defines the procedure of paying out in 2004 to individual categories of citizens of the Russian Federation of the preliminary compensation for the deposits in the Savings Bank of the Russian Federation as of June 20, 1991 being guaranteed savings according to the Federal Law on the restoration and protection of savings of citizens of the Russian Federation. Also defines the procedure of paying out in 2004 to individual categories of citizens of the Russian Federation of the preliminary compensation for the deposits in the state insurance organisations (OAO Russian State Insurance Company and companies of the Rosgosstrakh system) as of January 1, 1992 being guaranteed savings.

The preliminary compensation for the deposits is paid out in the amount of Rbl 1,000 to the following categories of citizens of the Russian Federation (including the first priority heirs included in the mentioned categories of citizens): citizens up to 1947 year of birth inclusive; group I invalids, group II invalids up to 1955 year of birth inclusive; parents and trustees of the invalid children; parents and trustees of invalids from childhood; parents whose children were killed or diseased during the draft military service in peace time.

The paying out of the preliminary compensation for the deposits to the citizens of the Russian Federation of 1946-47 years of birth shall be made from September 1, 2004.

The amount of the compensation depends on the duration of the deposits and is determined using specified coefficients.

Decision of the Government of the Russian Federation No. 332 of June 30, 2004 on the Endorsement of the Regulation on the Federal Service of Tariff Rates

The Federal Service of Tariff Rates is a federal body of executive power in charge of the legal regulation in the sphere of state regulation of prices (tariff rates) for commodities (services) and control over their application, except for the prices and tariff rates in the sphere of reference of other federal bodies of executive power, as well as the federal body of executive power in charge of the regulation of natural monopolies defining (fixing) the prices (tariff rates) and controlling the issues of determination (fixing) and application of prices (tariff rates) in the spheres of activities of the subjects of natural monopolies. Activities of the Federal Service of Tariff Rates are supervised by the Government of the Russian Federation.

Decision of the Government of the Russian Federation No. 327 of June 30, 2004 on the Endorsement of the Regulation on the Federal Service of Veterinary and Phytosanitary Supervision

The Federal Service of Veterinary and Phytosanitary Supervision is a federal body of executive power in charge of control and supervision in the sphere of veterinary, plant quarantine and protection, use of pesticides and agricultural chemicals, soil fertility, selection achievements, protection, reproduction, use of objects of fauna qualified as objects of hunting, water biological resources and their habitat, as well as protection of population against diseases common to the human being and animals. The Federal Service is supervised by the Ministry of Agriculture. The service shall license individual types of activities in the sphere of animal breeding, seed growing, storage of grains and products of their processing. The Federal Service shall also license activities in naturalisation, resettlement and hybridisation, breeding of animals qualified as objects of hunting and water biological resources in semi-wildlife conditions and artificially created habitat. The Service shall issue permissions to withdraw objects of fauna qualified as objects of hunting and licenses for the use of objects of fauna qualified as objects of hunting and water biological resources.

Decision of the Government of the Russian Federation No. 326 of June 30, 2004 on the Federal Agency of Physical Culture, Sports and Tourism

The Federal Agency of Physical Culture, Sports and Tourism is a federal body of executive power in charge of the rendering of state services and state property management in the sphere of physical culture, sports, including the anti-doping measures, and tourism. The Federal Agency is supervised by the Ministry of Public Health and Social Development. The Federal Agency shall license on the temporary basis tourist operators and agents and the sale of club accommodations, as well as organisation and maintenance of sweepstakes and gambling institutions.

Order of the Ministry of Taxation of the Russian Federation No. SAE-3-02/351@ of June 3, 2004 on the Amendments to the Orders of the Ministry of Taxation of Russia No. BG-3-02/614 of November 11, 2003 and No. BG-3-02/585 of December 29, 2001

Changes the form of the declaration for the profit tax from organisations and its filling Instruction. The changes reflect the particulars of filling of the declaration and the estimate of the tax by agricultural producers failing to switch over to the uniform agricultural tax envisaged in Chapter 26.1 of the Tax Code of the Russian Federation. The changed parts of the declaration form are provided in the new wording.

Direction of the Central Bank of Russia No. 1473-U of July 7, 2004

From July 8, 2004 reduces from 7% to 3.5% the normative of obligatory reserves for obligations to natural persons in the currency of the Russian Federation, as well as the normative of obligatory reserves for other obligations of credit organisations in the currency of the Russian Federation and obligations in foreign currencies.

Letter of the Central Bank of Russia No. 78-T of July 8, 2004 on the Non-Application to the Authorised Banks of Enforcement Measures for the Violation of the Acts of the Bodies of Currency Regulation

From June 18 through September 1, 2004 only preventive measures may apply to the authorised banks violating the requirements of the normative acts of the Bank of Russia in the sphere of currency regulation and currency control adopted in execution of the Federal Law on currency regulation and currency control.

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