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 28.06.2005

Decision of the Government of the Russian Federation No. 396 of June 23, 2005 on the Amendments to the Procedure of Providing Information on the Federally Owned Forestry Fund to Citizens and Legal Entities

The payment for the information on the forestry fund must be transferred to the federal budget. The list of information on the forestry fund provided to various categories of users free of charge and for a fee is endorsed by the Ministry of Natural Resources of Russia.

Order of the Government of the Russian Federation No. 817-r of June 17, 2005

Finds it expedient to terminate participation of the federal state unitary enterprises, federally owned enterprises and federal state institutions in the registered capitals of organisations engaged in activities at the market of financial services except for credit organisations.

Stocks, shares and contributions in the registered capitals of financial organisations available in economic and operative control of the mentioned enterprises and institutions must be handed over in the property of the Russian Federation.

The rights of the stock-holder (participant) on behalf of the Russian Federation are vested in the Federal Agency of State Property Management.

Letter of the Ministry of Finance of the Russian Federation No. 03-07-03-02/9 of February 24, 2005

The payers of the water tax are recognised to be organisations and natural persons directly engaged in the use of water objects while applying structures, technical means or devices on the basis of the license for water use. Natural persons other than those engaged in entrepreneurial activities pertaining to the use of water objects and requiring a license are not being the payers of the water tax.

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