Windfall tax for major companies to be introduced in Russia

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Monitoring of the Federal Legislation dated 13.09.2004

Decision of the Government of the Russian Federation No. 471 of September 10, 2004 on the Amendments to the Customs Tariff of the Russian Federation Pertaining to Presses for Making Woodfibre Board

Refines individual headings and subheadings of the Foreign-Trade Commodity Nomenclature pertaining to presses. In particular, the Foreign-Trade Commodity Nomenclature is extended to include the subheading "Presses for Making Medium-Density Woodfibre Board (MDF) with Output Capacity of 50 Square Meters of Finished Product per Hour, Continuous Process". The given commodity is imported duty free (earlier, all presses included in subheading 8479 30 100 0 were subject to the import rate in the amount of 5% of the customs cost).

Decision of the Government of the Russian Federation No. 463 of September 9, 2004 on the Rates of the Import Customs Duties for Individual Types of Furniture

The rates of the import customs duties for furniture of wood for bed-rooms (Foreign-Trade Commodity Nomenclature codes 9403 50 000 1, 9403 50 000 9), furniture of wood for dining-rooms and living-rooms (Foreign-Trade Commodity Nomenclature codes 9403 60 100 1, 9403 60 100 9), other furniture of wood (Foreign-Trade Commodity Nomenclature codes 9403 60 900 1, 9403 60 900 9 and 9403 90 300 0) endorsed by the Decision of the Government of the Russian Federation No. 707 of November 24, 2003 must be applied from September 29, 2004 on the permanent basis. Earlier, the mentioned rates were endorsed for 9 months.

Letter of the Ministry of Taxation of the Russian Federation No. 04-5-03/207 of July 12, 2004 on the Standard Tax Exemptions

If the taxpayer having enjoyed standard tax exemptions during the year with the tax agent submits a tax declaration to the tax body pertaining to any other tax exemptions (property, social etc.), there is not need to confirm anew the right for the standard tax exemptions. It is enough to attach to the declaration the certificate drawn up according to Form 2-NDFL from the tax agent having granted standard tax exemptions. However, in cases of the cameral check of the tax declaration, the tax body may demand from the mentioned taxpayer the documents confirming the correctness of calculation and timely payment of taxes including the documents confirming the right for the standard tax exemptions.

Letter of the Ministry of Finance of the Russian Federation No. 03-03-05/1/70 of July 9, 2004 on the Application of the Simplified System of Taxation

If the taxpayer does not have the permission for the disposal of pollutants, placing of waste, the payment for the negative impact on the environment may not be included in the expenses specified in Chapter 26.2 of the Tax Code of the Russian Federation "Simplified System of Taxation".

Letter of the Ministry of Taxation of the Russian Federation No. 03-2-06/1/1420/22@ of June 29, 2004 on the Value Added Tax

Lessor services providing earlier purchased property being the object of leasing to the lessee at cost and on the terms defined in the leasing contract for temporary possession and for use with or without the transfer of the proprietary rights for the mentioned object of leasing are recognised as object of taxation for the value added tax.

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