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 1.11.2005

Decision of the Government of the Russian Federation No. 650 of October 29, 2005 on the Amendments to the Regulation on the Granting of Parts of the Forestry Fund for Free Use

The contract for gratuitous use of the part of the forestry fund permits the organisation of the body of executive power of the subject of the Russian Federation in charge of forest management to grant to the user of forests a part of the forestry fund for gratuitous use for up to 99 years (earlier, up to 49 years) for one or several types of use of the forestry fund.

The volumes of use of the forestry fund necessary to satisfy own needs in wood and other forest resources of agricultural organisations having obtained the right of gratuitous use for the part of the forestry fund shall be specified by the federal body of executive power or the body of executive power of the subject of the Russian Federation. Own needs of agricultural organisations shall include the demand for wood for construction and all kinds of repair works of permanent and temporary production, dwelling, public and other buildings and structures available in their property, as well as for their heating.

Decision of the Government of the Russian Federation No. 649 of October 29, 2005 on the Amendment to the Decision of the Government of the Russian Federation No. 942 of August 12, 1994

The length of service permitting to get the pension for the employees of the prosecutor staff dismissed form service shall include on beneficial terms the period of service in emergency situations and in armed conflicts.

Employees of the prosecutor staff shall also enjoy additional guarantees and compensations for the periods of actual execution of tasks on the territory where an emergency situation was introduced or in the locality qualified as an armed conflict zone.

Decision of the Government of the Russian Federation No. 645 of October 27, 2005 on the Quarterly Reports of Construction Parties of Activities Pertaining to Attraction of Monetary Resources of Participants of Shared Construction

Specifies the composition, forms and procedure of submission of the quarterly reports by construction parties of activities pertaining to attraction of monetary resources of participants of shared construction to build apartment houses and/or other objects of immovable property.

The reports shall include the ones drawn up to provided forms, certificates, as well as the quarterly accounting reports of the construction party (annual for the IV quarter).

The reports shall be submitted for the quarter where there was at least one contract of shared construction concluded by the construction party, or if there were unexecuted obligations under the contract.

The reports shall be submitted by the construction party to the Federal Service for Financial Markets of Russia no later than within 30 days after the end of the reporting quarter, except for the report for the IV quarter, which is submitted by the construction party no later than within 90 days after the end of the IV quarter.

For the first time, the mentioned reports shall be submitted by construction parties beginning with the results of activities of the I quarter of 2006.

Order of the Federal Tax Service No. SAE-3-24/503@ of October 11, 2005 on the Procedure of Registration of the Amounts of Obligatory Taxpayer Payments That the Bank Failed to Transfer to the Budget System of the Russian Federation

Provides the rules of registration of the monetary resources on the taxpayer settlement account where the payment orders were presented to the bank to pay the appropriate tax (fee) but were not written off by the bank, as well as resources written off from the taxpayer settlement account and entered on the Balance Account 47418 ("Resources Written off from Client Accounts but Not Posted in the Correspondent Account of the Credit Organisation because of Insufficiency of Resources") or another account wherefrom taxpayer resources were not received on the incomes accounts of budgets.

The mentioned resources shall be recorded using provided form in the logbook of amounts of taxpayer obligatory payments that were not transferred by the banks to the budget system of the Russian Federation. Amounts that were not transferred by the bank shall be registered by the tax body in the logbook on the basis of the decision (ruling) of the arbitration court having entered into legal force and containing in the resolution the provision recognising the taxpayer duty to pay the given amounts of obligatory payments fulfilled.

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