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 10.10.2005

Decision of the Government of the Russian Federation No. 599 of October 6, 2005 on the Interim Rates of Import Customs Duties for Fats and Butters, Partly Processed, Margarines and Spreads

Import duties for fats and butters, partly processed, margarines and spreads are increased for 9 months and assume a uniform amount of 20% of the customs cost, however, not less than EUR 0.2 per kg (earlier, the amounts made 15% of the customs cost or 15% but not less than EUR 0.12 per kg, or 15% but not less than EUR 0.2 per kg).

The Decision is entered into force one month after the day of its official publication.

Decision of the Government of the Russian Federation No. 596 of October 5, 2005 on the Interim Rates of Import Customs Duties for Individual Types of Technological Equipment, Component and Spare Parts for It for Organisations of the Light and Textile Industries

Individual types of technological equipment, component and spare parts for it for organisations of the light and textile industries shall be imported at the rate of 0% for 9 months. Earlier, the import rate for these commodities amounted to 5%-10% of the customs cost.

The Decision is entered into force one month after the day of its official publication.

Decision of the Presidium of the Higher Arbitration Court of the Russian Federation No. 4336/05 of September 1, 2005

Subject to Paragraph 4 of Item 3 of Article 243 of the Tax Code of the Russian Federation, if the amount of reduction of the uniform social tax for the month (amount of advance payment of the uniform social tax) due to the federal budget is greater than the amount of insurance contributions for obligatory pension insurance paid for the appropriate month, such difference is accepted from the 15th of the month following the month of advance payments of the uniform social tax by reducing the amount of the mentioned tax.

According to the Presidium of the Higher Arbitration Court, reduction of the amount of the uniform social tax due for payment occurred as a result of incomplete transfer of the amount of insurance contributions rather than the actions (failure to act) indicated in Article 122 of the Tax Code of the Russian Federation, which is not the violation envisaged in the mentioned Article.

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