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 23.06.2005

Decision of the Government of the Russian Federation No. 391 of June 21, 2005 on the Endorsement of the Rules of Granting Subsidies from the Federal Budget in 2005 for the Capital Repair of Hydrotechnical Structures Owned by the Subjects of the Russian Federation

Defines the procedure of granting subsidies form the federal budget in 2005 to the budgets of the subjects of the Russian Federation for capital repair of hydrotechnical structures owned by the subjects of the Russian Federation. Provides distribution of subsidies by the subjects of the Russian Federation. The subsidies are granted on certain conditions. In particular, distribution of subsidies by the objects must be coordinated with the Federal Agency of Water Resources followed by subsequent submission of reports of their use.

The priority procedure of allocation of subsidies applies to capital repair of objects in emergency state where incidents may cause an emergency situation, and handed over objects where the works must be terminated in 2005.

Decision of the Government of the Russian Federation No. 390 of June 21, 2005 on the Endorsement of the Rate of the Import Customs Duty for Electric Power

Endorses the rate of the import customs duty for electric power (code according to the Foreign Trade Commodity Nomenclature of Russia 2716 00 000 0) in the amount equal to zero.

The Decision is entered into force from July 27, 2005.

Decision of the Presidium of the Higher Arbitration Court of the Russian Federation No. 391/05 of May 17, 2005

A check carried out by the tax inspection revealed a fact of sale of commodity for Rbl 180 without the use of cash register by the seller. An administrative fine was imposed on the applicant in the amount of Rbl 30,000.

The plenum of the Higher Arbitration Court of the Russian Federation explains that the small amount of sale is no evidence of the low significance of the violation envisaged in Article 14.5 of the Code of Administrative Violations of the Russian Federation for the failure to use cash registers. Administrative violation in the form of the failure to use cash registers in cash payments jeopardises the established procedure of public relations in the sphere of trade and finance, the rules of the state licensing system. Therefore, the amount of the fine must not depend on the amount of the violation.

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