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 29.11.2005

Decision of the Government of the Russian Federation No. 702 of November 26, 2005 on the Endorsement of the Rate of the Import Customs Duty for Tin Ores and Concentrates <br>

The rate of the import customs duty for tin ores and concentrates (code according to the Foreign Trade Commodity Nomenclature of Russia 2609 00 000 0) is fixed in the amount equal to zero. Earlier, the mentioned rate amounted to 5% of the customs cost, however, according to the Decision of the Government of the Russian Federation No. 709 of December 1, 2004, did not apply from January 7, 2005 through October 6, 2005 inclusive.

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

Decision of the Government of the Russian Federation No. 698 of November 24, 2005 on the Form of the Permission for Construction and the Form of the Permission to Put an Object in Operation <br>

Endorses the form of the document confirming compliance of design documentation with the city-planning requirements for the land plot and permitting the construction party construction, reconstruction of objects of capital construction, as well as their capital repair (permission for construction). The permission for construction is issued free of charge.

Also endorses the form of the document confirming fulfilment of construction, reconstruction, capital repair of object of capital repair in full amount in compliance with the permission for construction, compliance of the built, reconstructed, repaired object of capital construction with the city-planning documentation for the land plot and design documentation (permission to put the object in operation).

Decision of the Government of the Russian Federation No. 697 of November 24, 2005 on the Amendments to the Rules of Reimbursement at the Expense of the Federal Budget of the Part of Expenses of Organisations of the Sea, River and Air Transport to Pay the Interest under Credits Obtained in Russian Credit Organisations to Purchase Sea, River and Air Vessels Built in Russian Enterprises Endorsed by the Decision of the Government of the Russian Federation No. 278 of April 9, 2001 <br>

Specifies that chief administrators of resources of the federal budget allocated to pay out reimbursement of the part of expenses of organisations of the sea and river transport and organisations of the air transport shall be, respectively, the Federal Agency of the Sea and River Transport and the Federal Agency of the Air Transport (earlier, the Ministry of Transport of Russia ).

Letter of the Federal Tax Service No. GV-6-21/952@ of November 16, 2005 on the Calculation of the Rate of the Tax on Extraction of Mineral Resources for October of 2005 <br>

In the calculation of the tax on extraction of mineral resources for oil for October 2005, it is necessary to take into account that the average level of prices for the Urals oil at the Mediterranean and Rotterdam markets amounted to USD 54.81 per barrel, average US dollar rate to the Russian rouble for all days of the tax period was 28.5473, Kc factor - 5.0105, and the tax rate taking account of the Kc factor - Rbl 2099.3995 per ton.

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