Windfall tax for major companies to be introduced in Russia

Garant Free Online Demo

Legal information system for your company.
Simply click on the button Start working and the system Legislation of Russia in English will be available for unlimited time.

Daily Monitoring of the Legislation

Monitoring of the Federal Legislation dated 10.03.2005

Federal Constitutional Law No. 1-FKZ of March 7, 2005 on Amendments to the Federal Constitutional Law on the State Flag of the Russian Federation and the Federal Constitutional Law on the Emergency Situation Pertaining to Measures of Improvement of State Management in the Sphere of Safeguarding and Protection of the State Border of the Russian Federation

In view of prevalence of the operative method of safeguarding the state border of the Russian Federation over the use of troops, the notion of the "border guard troops" is removed from the mentioned Federal Constitutional Laws while leaving the notion of the "border guard bodies".

Federal Law No. 16-FZ of March 7, 2005 on Amendments to Articles 9 and 22.1 of the Federal Law on the Securities Market

Introduces the duty of the organiser of trade at the securities market to notify the federal body of executive power in charge of the securities market of inclusion (exclusion) of securities in the list (from the list) of securities permitted for tenders no later than the following day after the date of adoption of the appropriate decision.

Specifies that the securities prospectus may be singed, at the issuer disposal, by the financial advisor at the securities market, thus confirming the authenticity and completeness of all information contained in the securities prospectus, except for the part confirmed by the auditor and/or assessor. Earlier, in cases of public placing or public circulation of emission securities, the securities prospectus must have been signed on the obligatory basis by the financial advisor.

Federal Law No. 15-FZ of March 7, 2005 on Amendments to Some of the Legislative Acts of the Russian Federation and Invalidation of Individual Provisions of the Legislative Acts of the Russian Federation Pertaining to the Measures of Improvement of State Management in the Sphere of Safeguarding and Protection of the State Border of the Russian Federation

Since the work of the border guard bodies and the border guard troops at present reached such level of uniformity and interaction that they actually cannot be separated structurally, the notion of the "border guard troops" is removed from the federal legislation. The structure of the border guard bodies and the border guard troops is being brought in compliance with the structure of the Federal Security Service.

Federal Law No. 14-FZ of March 7, 2005 on Amendments to Article 8.8 of the Code of Administrative Violations of the Russian Federation

Introduces administrative liability for the failure to use the land plot intended for agricultural production or housing or another construction, for the designated purpose within the time limits specified in the federal law. The mentioned violation may imply an administrative fine: from 5 to 10 minimum amounts of labour remuneration for citizens, from 10 to 20 minimum amounts of labour remuneration for officials, from 100 to 200 minimum amounts of labour remuneration for legal entities.

Federal Law No. 13-FZ of March 7, 2005 on Amendments to Articles 17 and 18 of the RSFSR Law on Competition and Restriction of Monopolist Activities at Commodity Markets

The amendments envisage a significant increase of the threshold values of the cost of assets specified in Articles 17 and 18 of the Law.

According to the amendments, the merger or incorporation of commercial organisations with the total balance cost of the assets according to the most recent balance report being greater than 30 million (earlier, 200,000) minimum amounts of labour remuneration shall occur with preliminary consent of the antimonopoly body.

The founders (participants) must notify the antimonopoly body, within 45 days from the day of the state registration, of the creation of commercial organisations, as well as of their merger or incorporation, if the total cost of the assets according to the most recent balance report is greater than 2 million (earlier, 200,000 and 100,000 respectively) minimum amounts of labour remuneration.

Preliminary consent of the antimonopoly body in cases of purchase of stocks (shares) in the registered capital of commercial organisations must be obtained if the total cost of the assets according to the most recent balance report of the buyers is greater than 30 million (earlier, 200,000) minimum amounts of labour remuneration. If the total cost of the assets is greater than 2 million (earlier, 100,000) minimum amounts of labour remuneration, the committed transaction must be reported to the antimonopoly body.

Federal Law No. 12-FZ of March 7, 2005 on Amendments to the Law of the Russian Federation on Organisation of Insurance Work in the Russian Federation and to Article 2 of the Federal Law on Amendments to the Law of the Russian Federation on Organisation of Insurance Work in the Russian Federation and Invalidation of Some of the Legislative Acts of the Russian Federation

The amendments refine the norms of increase of the amount of the registered capital by insurers and of the bringing of the types of insurance activities in compliance with the specified classification. The Law extends the time limit before which reinsurance companies and insurance brokers must obtain licenses: from July 1, 2005 to July 1, 2007. Insurance organisations must obtain licenses for reinsurance activities before expiry of this date.

The amendments also envisage opportunities for Russian insurers to conclude contracts of reinsurance with foreign insurance organisations involving international insurance brokers.

Persons implementing the functions of the sole executive body and chief accountant of the insurance organisation with foreign investments must be living permanently on the territory of the Russian Federation.

Pursuant to the entry into force from January 1, 2005 of Chapter 25.3 "The State Duty" of the Tax Code of the Russian Federation, invalidates Article 32.2 specifying the amount of payment for the issue of the license. A new wording is provided for Article 32.8 defining the procedure of termination of insurance activities of the subject of insurance business or its liquidation because of the revocation of the license.

Federal Law No. 11-FZ of March 7, 2005 on the Restrictions on the Retail Sale and Consumption (Drinking) of Beer and Drinks Made on Its Basis

Introduces restrictions on the retail sale and consumption (drinking) of beer with the content of ethyl alcohol greater than 0.5% of the volume of the finished product and drinks made on its basis for the purpose of protection of morale and health of people, the underage, first and foremost.

Retail sale and consumption (drinking) of the mentioned commodities shall be prohibited in child, educational and medical organisations, on all types of public transport, as well as organisations of culture, rehabilitation and sports buildings. The sale of beer and drinks made on its basis shall be prohibited in all cases to the underage. Therefore, consumption (drinking) of such drinks shall be prohibited for the underage in any public places.

The places prohibited for retail sale, including the sale of draft drinks, and consumption (drinking) of beer and drinks made on its basis shall be defined by the bodies of local government.

The Federal Law is entered into force thirty days after the date of its official publication.

Federal Law No. 10-FZ of March 7, 2005 on Amendments to Article 16 of the Federal Law on the Circulation of Lands of Agricultural Destination

From 2 to 4 years extends the period when the owners of land shares may redraw the earlier concluded lease contracts in compliance with the rules of the Civil Code and provisions of Item 2 of Article 9 of the Federal Law on the circulation of lands of agricultural destination.

The Federal Law shall be entered into force from the day of its official publication.

Federal Law No. 9-FZ of March 7, 2005 on the Ratification of the Agreement between the Government of the Russian Federation and the Government of the French Republic on the Facilitation, on the Mutual Basis, of the Terms of Entry, Travel and Exit for the Citizens of the Russian Federation the Citizens of the French Republic

Ratifies the Agreement signed in Moscow on June 15, 2004.

Federal Law No. 8-FZ of March 7, 2005 on the Ratification of the Agreement between the Government of the Russian Federation and the Government of the Italian Republic on the Simplification of Issue of Visas to the Citizens of the Russian Federation and the Citizens of the Italian Republic

Ratifies the Agreement singed in Moscow on June 15, 2004.

Federal Law No. 7-FZ of March 7, 2005 on the Ratification of the Agreement between the Russian Federation and the Kirghiz Republic on Cooperation in the Security Sphere

Ratifies the Agreement singed in Bishkek on December 5, 2002.

Federal Law No. 6-FZ of March 7, 2005 on the Ratification of the Agreement between the Russian Federation and the Republic of Kazakhstan on the Mutual Planning of the Use of Troops (Forces) in the Interests of Mutual Security of the Russian Federation and the Republic of Kazakhstan

Ratifies the Agreement signed in Moscow on January 16, 2004.

Contact Us

Leave us a message