Windfall tax for major companies to be introduced in Russia

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Monitoring of the Federal Legislation dated 16.06.2005

Decision of the Government of the Russian Federation No. 372 of June 10, 2005 on the Procedure of Spending and Accounting Work for Resources of the Federal Budget Allocated to Finance the Measured to Extinguish Forest Fires and of Distribution of These Resources

Provides a table of distribution of resources handed over in 2005 to the bodies of state power of the subjects of the Russian Federation in the form of subventions to finance the measures to extinguish forest fires.

Lists the types of forest fire extinguishing works to be financed. Subventions are transferred by the Federal Forestry Agency to personal accounts of the territorial forestry bodies while sending appropriate payment orders to financial bodies of the subjects of the Russian Federation.

Decision of the Government of the Russian Federation No. 368 of June 10, 2005 on the Amendments to the Decision of the Government of the Russian Federation No. 883 of September 4, 1995

The amendments are introduced in view of the increase from January 1, 2005 of the lumpsum child birth allowance from Rbl 4,500 to Rbl 6,000.

State allowances for children are also assigned and paid out to the citizens of the Russian Federation serving in the State Fire Service, institutions and bodies of the criminal execution system, bodies of control over circulation of narcotic drugs and psychotropic substances, customs bodies.

Letter of the Central Bank of Russia No. 86-T of June 10, 2005 on the Drawing up and Submission of Reports of Credit Organisations

Pursuant to the entry into force of the Regulation of the Bank of Russia No. 266-P of December 24, 2004 and the Direction of the Bank of Russia No. 1571-U of April 11, 2005, credit organisations, when drawing up reports and submitting them to the Bank of Russia, are recommended to include in them information on the residues and turnovers on individual balance accounts pertaining to operations using bank cards for the reporting periods until December 31, 2005.

Letter of the Central Bank of Russia No. 85-T of June 10, 2005 on the Application of the Normative Acts of the Bank of Russia Regulating Operations Using Bank Cards

Explains the procedure to fulfil individual requirements of the Regulation of the Bank of Russia No. 266-P of December 24, 2004 and the Direction of the Bank of Russia No. 1571-U of April 11, 2005 pertaining to the transfer of residues of monetary resources from personal accounts opened for operations using bank cards.

Credit organisations are recommended to analyse for compliance with the mentioned requirements the terms of the actual contracts envisaging operations with bank cards and making payments in such operations and introduce changes, if necessary, including the cases when it is envisaged in the contract terms, on the unilateral basis while notifying the client.

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