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 8.11.2005

Federal Law No. 141-FZ of November 4, 2005 on the Amendments to the Federal Law on the Federal Budget for the Year 2005

The amendments are intended to adjust the main characteristics of the federal budget as a result of its execution in the first six months of 2005. Parameters of the Federal Law are based on the figures of preliminary assessment of execution of the federal budget as of September 1, 2005 and the forecast of its execution until the end of the current year and includes all changes having occurred in January - August 2005 as reflected in the summary budget list of the federal budget for the mentioned period. An increase in incomes of the federal budget is stipulated by the growth of prices for oil at the world market, as well as additional receipts form activities of the tax bodies.

The volume of incomes in 2005 is forecasted in the amount of Rbl 4,979,756.6 million (a surplus of Rbl 1,653,715.4 million or 47.9% of the endorsed figures), expenses - Rbl 3,539,450.6 million (a surplus of Rbl 491,521.2 million or 16.1% of the endorsed figures), with a surplus of incomes over expenses making Rbl 1,440,306.9 million. The forecasted GDP volume makes Rbl 21,000 billon, the level of inflation - 10-11%.

The Law defines distribution of additional resources. The volume of deductions to the Stabilisation Fund of the Russian Federation is planned in the amount of Rbl 1,240.2 billion (Rbl 852.4 billion or 3.2 times greater than specified), out of them: Rbl 346.6 billion from the tax on extraction of mineral resources; Rbl 505.8 billion from the export customs duties for oil.

The Federal Law is entered into force from the day of its official publication.

Federal Law No. 140-FZ of November 4, 2005 on the Ratification of the Agreement between the Government of the Russian Federation and the Government of the Republic of Tajikistan on the Composition and Organisational and Staff Structure of the Russian Military Base on the Territory of the Republic of Tajikistan

Ratifies the Agreement singed in Dushanbe on October 16, 2004. The Agreement specifies the composition of the Russian military base deployed on the territory of the Republic of Tajikistan, defines the legal basis for the forming of the organisational and staff structure of the Russian military units and divisions located on this territory.

Federal Law No. 139-FZ of November 4, 2005 on the Ratification of the Joint Convention on the Safety of Spent Fuel Management and on the Safety of Radioactive Waste Management

Ratifies the Joint Convention signed in Vienna on January 27, 1999 defining the duties of the contracting parties in the sphere of safe handling of spent fuel generated as a result of operation of nuclear plants used for peaceful purposes and the safe handling of radio active waste when it is generated in the course of civil activities.

Federal Law No. 138-FZ of November 4, 2005 on the Amendment to Article 12 of the Federal Law on the Prosecutor Office of the Russian Federation

Specifies that Prosecutor General of the Russian Federation shall present personally to the Council of the Federation at the chamber session the annual report on law enforcement and legal order in the Russian Federation and on the work to strengthen them.

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