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 4.10.2005

Decree of the President of the Russian Federation No. 1158 of October 3, 2005 on the Amendment to the Structure of the Federal Bodies of Executive Power Endorsed by the Decree of the President of the Russian Federation No. 649 of May 20, 2004 "Issues of the Structure of the Federal Bodies of Executive Power"

Abandons the Federal Agency for Agriculture. Its functions are handed over to the Ministry of Agriculture of Russia.

The Decree is entered into force from the day of its signing.

Decision of the Government of the Russian Federation No. 587 of September 28, 2005 on the Governmental Commission for Improvement of Interaction of the Federal Bodies of the Executive Power and the Bodies of Executive Power of the Subjects of the Russian Federation

Forms the body in charge of coordination of interaction of the federal bodies of executive power and the bodies of executive power of the subjects of the Russian Federation.

The Commission shall examine the results of implementation of the authority handed over to the bodies of executive power of the subjects of the Russian Federation and the bodies of local government.

The Commission shall also coordinate the work in implementation of the regional aspects of the federal tied programs and regional programs of social and economic development of the subjects of the Russian Federation.

The composition of the Commission is endorsed by the Government of the Russian Federation.

Order of the Federal Service of Enforcement in the Sphere of Use of Natural Resources No. 239 of September 19, 2005 on the Procedure of Publication and Entry into Force of the Acts of the Federal Service of Enforcement in the Sphere of Use of Natural Resources Recognised by the Ministry of Justice of the Russian Federation As not Needing the State Registration

The acts of the Federal Service of Enforcement in the Sphere of Use of Natural Resources recognised by the Ministry of Justice of the Russian Federation as not needing the state registration must be published in the journal State Management of Resources and the newspaper Natural Resources News, as well as be placed on the official Internet site of the Federal Service of Enforcement in the Sphere of Use of Natural Resources control.mnr.gov.ru. The mentioned sources are official ones.

The given acts shall enter into force from the moment of their signing (endorsement) if the acts themselves do not specify another time limit and/or procedure of entry into force.

Registered in the Ministry of Justice of the Russian Federation on September 29, 2005. Reg. No. 7048.

Letter of the Department of the Tax and Customs Tariff Policy of the Ministry of Finance of the Russian Federation No. 03-11-04/2/81 of September 19, 2005

In 2006, if the application is submitted to switch over to the simplified system of taxation from January 1, 2007, incomes from sales and non-sales incomes for 9 months of 2006 will be taken into account. If the application is submitted in 2005 to switch over to the simplified system of taxation from January 1, 2006, there is a restriction stating that the sales incomes may not be greater than Rbl 11 million.

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