Monitoring of the Federal Legislation dated 20.08.2004

Federal Law No. 102-FZ of August 18, 2004 on the Amendments to Part 2 of the Tax Code of the Russian Federation and Some Other Acts of the Legislation of the Russian Federation

Introduces the zero rate of the value added tax for the export of oil and natural gas to the territories of the CIS member-states. Increases the tax rate for the extraction of mineral resources when extracting natural gas for all deposits of hydrocarbon raw materials from Rbl 135 per 1,000 cubic meters of gas (earlier, Rbl 107). Increases also the tax rate for the extraction of oil to Rbl 419 per ton (earlier, Rbl 347).

The Federal Law is entered into force from January 1, 2005.

Direction of the Central Bank of Russia No. 1476-U of July 16, 2004 on the Procedure of Sending the Demand of the Bank of Russia for the Bank's Request to Terminate the Right of Work with Deposits

In cases of the bank's refusal to participate in the system of insurance of deposits or recognising the bank as not meeting the requirements of participation in the system of insurance of deposits, the demand of the Bank of Russia for the bank's request to terminate the right of work with deposits is sent by the Bank of Russia by registered mail.

Endorses the form of the demand of the Bank of Russia for the bank's request to terminate the right of work with deposits. Defines the time limits for sending the mentioned demand.

The Direction is entered into force 10 days after the day of its official publication in the Herald of the Bank of Russia.

Registered in the Ministry of Justice of the Russian Federation on August 19, 2004. Reg. No. 5985.

Order of the Ministry of Taxation of the Russian Federation No. SAE-3-24/441@ of July 27, 2004 on the Endorsement of the Forms of Documents Containing Information on the Bank Accounts of Legal Entities and Independent Entrepreneurs

Endorses the forms of the bank's report to the tax body of the opening (closing) of the bank account, information letter of the tax body of the receiving of the bank's report of the opening (closing) of the bank account and the bank's notification of the changing of the bank account numbers of the bank clients.

Registered in the Ministry of Justice of the Russian Federation on August 13, 2004. Reg. No. 5978.