Windfall tax for major companies to be introduced in Russia

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Monitoring of the Federal Legislation dated 12.04.2005

Decision of the Government of the Russian Federation No. 206 of April 11, 2005 on the Federal Medical and Biological Agency

The Federal Medical and Biological Agency is a federal body of executive power in charge of control and enforcement in the sphere of sanitary and epidemiological well-being of employees of organisations of individual industries featuring specially hazardous working conditions and of the population of individual territories and the rendering of state services and state property management in the sphere of public health and social development, including the medical and sanitary support of employees of the covered organisations and population of the covered territories, rendering of medical and socio-medical aid, providing services in the sphere of sanatorium and resort treatment, arranging forensic expert evaluations, blood donorship, transplantation of human organs and tissues.

The Federal Medical and Biological Agency of Russia is supervised by the Ministry of Public Health and Social Development of Russia.

Until January 1, 2006, activities of the Federal Medical and Biological Agency of Russia in control and enforcement in the sphere of sanitary and epidemiological well-being on the covered territories and in organisations shall be implemented by its federal state institutions.

Amounts of tariff rates (salaries) of the uniform tariff of labour remuneration of medical and pharmacy workers of the federal state institutions of public health and sanitary and epidemiological enforcement subordinate to the Federal Medical and Biological Agency of Russia are increased by 25%, for other employees of the mentioned institutions - by 20%.

Decision of the Government of the Russian Federation No. 205 of April 11, 2005 on the Minimum Norms of Nutrition and Material Support of the Convicts, As Well As the Norms of Nutrition and Material Support of the Suspects in Pre-Trial Isolation Wards of the Federal Service of Execution of Punishments and the Federal Security Service of the Russian Federation for Peacetime

Endorses the new minimum and additional norms of nutrition and material support form the mentioned persons.

Decision of the Government of the Russian Federation No. 204 of April 11, 2005 on the Procedure for Making Payments and Transfers When the Residents Buy from Non-Residents Shares, Contributions, Parts of Property (Registered or Shared Capital, Shared Fund of the Cooperative) of Legal Entities, When the Residents Transfer Contributions under the Contracts of Simple Partnership with Non-Residents

When residents make payments and transfers to buy from non-residents shares, contributions, parts of property (registered or shared capital, shared fund of the cooperative) of legal entities, when the residents transfer contributions under the contracts of simple partnership with non-residents, they must reserve the amount of 25% of the equivalent of the carried out currency operation for 15 calendar days. The given reservation requirement does not apply to operations regulated by the Bank of Russia.

Decision of the Government of the Russian Federation No. 203 of April 11, 2005 on the Interim Rates of the Import Customs Duties for Individual Types of Equipment

Reduces two times the rates of the import customs duties for individual types of equipment. The new rates are introduced for 9 months.

The Decision is entered into force one month after the day of its official publication.

Decision of the Government of the Russian Federation No. 191 of April 6, 2005 on the Endorsement of the Rules of Granting Subsidies from the Federal Budget in 2005 to Reimburse Part of Expenses to Pay the Interest under the Credits Received by Citizens Managing Personal Auxiliary Farms in Russian Credit Organisations for 1 to 3 Years

The Federal Agency for Agriculture of Russia shall transfer to the budgets of the subjects of the Russian Federation subsidies to reimburse part of expenses to pay the interest under the credits received by borrowers in the banks in 2005 to buy oils and lubricants, mineral fertilisers, means of protection of plants, fodders, veterinary preparations and other material resources for the seasonal works, as well as to pay insurance contributions to insure agricultural crops, as well as under the investment credits received by borrowers in the banks in 2005 for up to 3 years.

The subsidies shall be provided to borrowers from the budgets of the subjects of the Russian Federation on the monthly basis in the amount of 2/3 of expenses to pay the interest, however, not more than 2/3 of the actual rate of refinancing (bank rate) of the Bank of Russia on condition of the timely payment by the borrowers of the interest under the concluded contracts.

To get the subsidy, the borrowers shall submit to the authorised body of the subject of the Russian Federation application together with attached copies of the credit contract certified by the bank, excerpt from the loan account showing the getting of the credit, schedule of redemption of the credit and payment of interest, excerpt from the logbook of registration of the borrower as a subsidiary personal farm.

Letter of the Central Bank of Russia No. 59-T of April 8, 2005 on the Submission of Information on the Banks Setting Higher Interest Rates for the Deposits of Natural Persons

The Bank of Russia shall collect information for the period from March 2005 to January 2006 on the banks, including those failing to participate in the deposit insurance system, attracting monetary resources of natural persons at the interest rates higher than the average ones for the appropriate region. The Letter emphasises that the policy of such attraction of deposits may be stipulated by a number of reasons, including those that may not necessarily show the drawbacks or problems in the work of the particular bank.

Letter of the Central Bank of Russia No. 58-T of April 8, 2005 on the Revocation of the Operative Direction of the Bank of Russia No. 44-T of March 26, 2003 on the General Liquidity Normative (N5)

In view of the exclusion of the normative of general liquidity (N5), invalidates Operative Direction of the Bank of Russia No. 44-T of March 26, 2003 on the normative of general liquidity (N5).

Letter of the Central Bank of Russia No. 55-T of April 6, 2005 on the Application of Individual Provisions of the Direction of the Bank of Russia No. 1548-U of February 7, 2005 on the Procedure of Opening (Closing) and Organisation of Work of the Mobile Station of Cash Operations of a Bank (Branch)

Explains individual provisions of Appendix 3 to the Direction of the Bank of Russia No. 1548-U of February 7, 2005 specifying the requirements to the technical strength and outfit of mobile stations of cash services of the bank (branch). Lists the documents specifying technical requirements to the transport vehicles for transportation of monetary receipts and valuable cargo, their armoured protection, doors and manholes being bank protection means, to multi-layer protective glass, as well as the safes and storage facilities for values.

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