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 15.03.2005

Decision of the Government of the Russian Federation No. 118 of March 6, 2005 on the Endorsement of the Regulation on the Development of the Perspective Financial Plan of the Russian Federation and the Draft Federal Law on the Federal Budget for the Subsequent Fiscal Year

The perspective financial plan of the Russian Federation and the draft federal law on the federal budget for the subsequent fiscal year are worked out proceeding from scenarios of the functioning of the economy of the country for the average-term period and the forecast of socio-economic development for the subsequent fiscal year and the average-term perspective.

The perspective financial plan is worked out proceeding from the need to create conditions to provide for a balanced development in three stages. At the first stage, the main directions of the tax policy and customs policy are begin developed and approved, the main figures of the summary financial balance of the Russian Federation, as well as the terms of the scenarios. At the second stage, the main figures of the perspective financial plan are being worked out and approved, as well as the main directions of the debts policy. At the third stage, the draft perspective financial plan is being developed and approved.

The Decision defines the main requirements to the draft federal budget.

Letter of the Federal Service for Financial Markets No. 05-OV-02-5/2940 of March 2, 2005 on the Registration (Re-Registration) in the Register of Certified Persons

The registration (re-registration) of the certified persons to the requirements of the Regulation on the specialists of the securities market endorsed by the Decision of the Federal Commission for Securities Market of Russia No. 03-47/ps of December 24, 2003 shall be carried out regardless of the fact of taking professional development courses by the certified persons in one of the educational centres or the fact of passing of an additional qualification examination. However, two years after the date of the entry into force of the mentioned Regulation, certified persons must present to the authorised organisation (territorial body of the Service) having accepted the documents for the registration (re-registration) a copy of the document confirming the fact of professional development in an educational centre, or an excerpt from the protocol of the examination commission of the results of passing of an additional examination.

Telegram of the Federal Customs Service No. TF-369 of February 28, 2005

Before the entry into force of the special acts on the implementation of the functions of state control of the quality of grains in the country, customs registration of exported grains shall be done using the sanitary and epidemiological statements and the phyto-sanitary certificates, and the products of their processing - compliance certificates.

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