Windfall tax for major companies to be introduced in Russia

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Monitoring of the Federal Legislation dated 29.07.2004

Federal Law No. 84-FZ of July 28, 2004 on the Amendments to the Legislative Acts of the Russian Federation Pursuant to the Adoption of the Federal Law on the Invalidation of the Federal Law on the Restructuring of Credit Organisations and Individual Provisions of Legislative Acts of the Russian Federation, As Well As on the Procedure of Liquidation of the State Corporation "Agency for the Restructuring of Credit Organisations"

In view of the liquidation of the state corporation "Agency for the Restructuring of Credit Organisations" appropriate changes are introduced to the laws on the amendments to the RSFSR Law on banks and banking activities in the RSFSR, on insolvency (bankruptcy) of credit organisations and to Article 321 of the Tax Code of the Russian Federation.

Decision of the Government of the Russian Federation No. 379 of July 26, 2004 on the Changes to the Procedure of Execution of the Writs of Execution of Judicial Bodies Collecting Resources under Monetary Obligations of Recipients of Resources of the Federal Budget

Specifies the procedure of execution of demands of the writs of execution for the collection of resources under monetary obligations of recipients of resources of the federal budget from the personal accounts opened for them in the federal treasury bodies for the resources of the federal budget, as well as the resources from entrepreneurial and other profitable activities.

The demands of the writs of execution before January 1, 2005 shall be executed within the residues of the volumes of financing of expenses according to appropriate codes of the budget classification of the Russian Federation transferred from the personal accounts of the recipient of resources of the federal budget opened to the debtor, chief administrator of resources of the federal budget in the federal treasury bodies. In case of a failure to execute the mentioned writs of execution before January 1, 2005, the federal treasury bodies shall suspend the spending of resources from the personal accounts of the recipient of resources of the federal budget.

Decision of the Government of the Russian Federation No. 377 of July 23, 2004 on the Endorsement of the Regulation on the Commission for the International Humanitarian and Technical Aid of the Government of the Russian Federation

The Commission for the International Humanitarian and Technical Aid of the Government of the Russian Federation shall coordinate the activities of the bodies of state power and bodies of local government, legal entities and natural persons in reception and distribution of the international humanitarian and technical aid (assistance) received in the Russian Federation. The Commission shall take decisions confirming (refusing to confirm) the pertinence to the humanitarian or technical aid (assistance) of the resources and commodities provided to recipients, as well as the works carried out for and services rendered to them, on the free basis by foreign states, their federal or municipal formations, international and foreign institutions or non-commercial organisations, foreign natural persons.

Decision of the Government of the Russian Federation No. 331 of June 30, 2004 on the Endorsement of the Regulation on the Federal Antimonopoly Service

The Federal Antimonopoly Service is an authorised federal body of executive power in charge of the adoption of the normative legal acts, control and enforcement of observation of the legislation in the sphere of competition at commodity markets, protection of competition at financial markets, activities of subjects of natural monopolies (within the specified authority), advertising (within the specified authority).

Activities of the Federal Antimonopoly Service shall be supervised by the Government of the Russian Federation.

Decision of the Government of the Russian Federation No. 329 of June 30, 2004 on the Ministry of Finance of the Russian Federation

The Ministry of Finance of Russia is a federal body of executive power in charge of the working out of the state policy and normative-and-legal regulation in the sphere of budget, taxation, insurance, currency, bank activities, state debt, audit activities, accounting and reporting, production, processing and circulation of precious metals and precious stones, customs payments, determination of the customs cost of commodities and transport vehicles, investing of resources to finance the accumulated part of the labour pension, arranging lotteries, production and circulation of protected printed items, financial support of the state service, combating legalisation of incomes obtained in a criminal way and financing of terrorism.

The Ministry of Finance of Russia shall continue to implement its authority in organisation of execution of the federal budget and in the state regulation of audit activities.

The Ministry of Finance of Russia shall coordinate and control the activities of supervised by it Federal Tax Service, Federal Service of Insurance Enforcement, Federal Service of Financial and Budget Enforcement and the Federal Service of Financial Monitoring, as well as control execution by the Federal Customs Service of the normative legal acts on calculation and collection of the customs payments, determination of the customs cost of commodities and transport vehicles.

Order of the State Customs Committee of the Russian Federation No. 605 of May 25, 2004 on the Endorsement of the Instruction on the Procedure of Processing of Proposals, Applications and Appeals of Citizens to the State Customs Committee of Russia

Defines the procedure of registration and processing of appeals of citizens, control over their execution, organisation of reception of citizens in the State Customs Committee of Russia. Organisation of the processing of appeals of citizens and their reception, including those to the management of the State Customs Committee of Russia, is vested in the section in charge of the appeals of citizens of the Administrative Department of the State Customs Committee of Russia.

Envisaged procedure does not apply to the citizens' appeals specified in the legislation on criminal procedures, legislation on civil proceedings, legislation on administrative violations and the labour legislation of the Russian Federation.

Appeals of citizens must be examined within one month from the day of receiving in the State Customs Committee of Russia, those not requiring additional investigation and checking - within 15 days from the day of receiving. The period of examination (at the decision of the management of the State Customs Committee of Russia) may be prolonged in individual cases, however, not more than for 15 days while notifying of it the author of the appeal.

Registered in the Ministry of Justice of the Russian Federation on July 26, 2004. Reg. No. 5947.

Order of the Ministry of Finance of the Russian Federation No. 57n of June 30, 2004 on the Endorsement of the Regulation on the Procedure of Carrying out Operations of Use of Resources Received in the Federal Budget from the Leasing of the Federally Owned Property Handed over for Operative Control to Budget-Supported Institutions Enjoying the Right for Additional Budget Financing

Specifies the procedure of use of resources received as incomes in the federal budget from the leasing of the federally owned property (including the movable one) handed over for operative control to budget-supported organisations enjoying the right under the law on the federal budget for the appropriate year for an additional source of budget financing for the maintenance and development of their material and technical base in excess of the amounts specified in the federal law on the federal budget.

Registered in the Ministry of Justice of the Russian Federation on July 26, 2004. Reg. No. 5946.

Order of the Federal Agency of Federal Property Management No. 104-r of July 6, 2004 on the Endorsement of the Approximate Form of the Contract of Leasing of the Federally Owned Plot of Land

Provides the new approximate form of the contract of leasing of the federally owned land plot.

Registered in the Ministry of Justice of the Russian Federation on July 23, 2004. Reg. No. 5943.

Direction of the Central Bank of Russia No. 1480-U of July 23, 2004 on the Partial Invalidation of the Instruction of the Bank of Russia No. 59 of March 31, 1997 on the Application to Credit Organisations of the Measures of Intervention for the Violation of the Prudential Norms of Work

Invalidates the provision stating that credit organisations supervised by the Agency for the Restructuring of Credit Organisations are exempted from envisaged in Article 75 of the Federal Law on the Central Bank of the Russian Federation (Bank of Russia) forced measures of intervention for the violation of bank enforcement measures.

The Direction is entered into force 10 days after the day of its official publication in the Herald of the Bank of Russia. The Direction is published in the Herald of the Bank of Russia on July 28, 2004, No. 44.

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