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 7.10.2005

Decision of the Government of the Russian Federation No. 598 of October 5, 2005 on the Amendments to the Regulation on the Ministry of Agriculture of the Russian Federation Endorsed by the Decision of the Government of the Russian Federation No. 315 of June 28, 2004

The Ministry of Agriculture of Russia is permitted to adopt normative legal acts specifying the procedure of registration of grains and products of their processing when procuring them for the state needs, as well as when supplying them to the state reserve.

The sphere of reference of the Ministry does not include now the right to adopt the acts specifying the forms of initial accounting documents in subordinate organisations.

Decision of the Government of the Russian Federation No. 597 of October 5, 2005 on the Endorsement of the Rules of Transfer of Monetary Resources and Securities Used to Invest the Savings of the Housing Support of Servicemen to a New Management Company in Cases of Termination of the Contract of Trust Control of the Savings of the Housing Support of Servicemen

Monetary resources and securities are handed over to a new management company on condition that the composition of the investment portfolio of the new management company, taking into account the handed over monetary resources and securities, meets the requirements of the Federal Law on the accumulated mortgage system of housing support of servicemen. If such condition is satisfied in two or more management companies, monetary resources and securities are handed over in trust control to the one having received a higher aggregate weighted figure (rating) at the contest used to conclude the contract.

If neither of the companies meets such condition, monetary resources and securities are handed over in trust control to the one with a higher aggregate weighted figure (rating) and having expressed the consent to get the mentioned assets in trust control.

Order of the Ministry of Finance of the Russian Federation No. 112n of September 7, 2005 on the Endorsement of the Form "Information on the Land Plots, As Well As the Persons, with the Registered Proprietary Right, Right of Permanent (Unlimited) Use or the Right of Life-Time Inherited Possession" and Its Filling Recommendations

Endorses KND Form 1114219 "Information on the Land Plots, As Well As the Persons, with the Registered Proprietary Right, Right of Permanent (Unlimited) Use or the Right of Life-Time Inherited Possession" and its filling recommendations.

The form consists of:

- title sheet (Sheet A "Information on the Land Plots, As Well As the Persons with the Registered Proprietary Right, Right of Permanent (Unlimited) Use or the Right of Life-Time Inherited Possession");
- Sheet B "Information on the Land Plot";
- Sheet C "Information on the Holder of the Right (Legal Entity) for the Land Plot";
- Sheet D "Information on the Holder of the Right (Natural Person) for the Land Plot".

The bodies in charge of the state registration of the rights for immovable property and transactions with it must report to the tax bodies at the place of their location the mentioned information as of January 1, 2005. Besides, the mentioned bodies must report information on the immovable property located on their subordinate territory and registered in these bodies (rights and transactions registered in these bodies) and its owners within 10 days from the day of the appropriate registration.

Registered in the Ministry of Justice of the Russian Federation on October 5, 2005. Reg. No. 7056.

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