Monitoring of the Federal Legislation dated 16.12.2005

Decision of the Government of the Russian Federation No. 757 of December 13, 2005 on the Amendments to the Customs Tariff of the Russian Federation Pertaining to Motor Vehicle Components Imported for Industrial Assembly

The rates of the import customs duties pertaining to motor vehicle components imported for industrial assembly endorsed by the Decision of the Government of the Russian Federation No. 166 of March 29, 2005 for 9 months are prolonged on unlimited basis.

The Decision is entered into force from January 15, 2006.

Decision of the Government of the Russian Federation No. 751 of December 8, 2005 on the Endorsement of the Form of Publication in Mass Media of Information on the Generation and Financial Results of Placing of Resources of Pension Reserves and on Generation and Financial Results of Investing of Resources of Accumulated Pensions

Provides 10 forms to be published by the Federal Service for Financial Markets of Russia in mass media on the annual basis and containing information on the generation and financial results of placing and investing of resources of pension reserves and accumulated pensions.

Decision of the Government of the Russian Federation No. 750 of December 8, 2005 on the Standardisation of Defence Products (Works, Services), Products (Works, Services) Used to Protect Information Comprising the State Secret or Restricted-Access Information Protected under the Laws of the Russian Federation and Products (Works, Services) Information of Which Comprises the State Secret

Specifies the procedure of working out, adoption and use of documents on the standardisation of the mentioned products.

Introduces the notions of the international and national military standard. The given standards are intended to specify for multiple use the characteristics of defence products, principles and rules of their development, production, operation, repairing, storage, transportation, sale or utilisation. The given standards must be distinguished from the national standards of wartime that are used in wartime and entered into force by special procedures. Also defines the notion of the national standard of restricted application (comprising the state secret or qualified as restricted-access information) and industry standard (adopted by the federal body of executive power).

The working out of the documents on standardisation of defence and federal products shall be arranged by the Federal Agency for Technical Regulation and Metrology and the federal bodies of executive power out of state orderers.

Decision of the Government of the Russian Federation No. 747 of December 8, 2005 on the Amendments to the Decision of the Government of the Russian Federation No. 65 of February 9, 2004

The amount of daily allowance paid out to contract servicemen and employees of federal bodies of executive power engaged in anti-terrorist operations and providing order and public security on the territory of the North-Caucasian regions of the Russian Federation is increased from two times to three times of the specified norm.

For draft servicemen, the amount of daily allowance is increased to the specified norm (earlier, 55% of the specified norm).

The Decision is entered into force from January 1, 2006.

Letter of the Department of the Tax and Customs Tariff Policy of the Ministry of Finance of the Russian Federation No. 03-03-04/2/128 of December 2, 2005

From January 1, 2004, envisages a switchover of all credit organisations to the International Accounting Standards (IAS). Expenses for audit services and audit checks according to IAS shall be included in the calculation of the profit tax in other expenses pertaining to production and sales.

Letter of the Federal Tax Service No. ChD-6-24/998@ of November 28, 2005

Explains the procedure of execution by the banks of the duty to report the closing of the account of the organsiation, independent entrepreneur to the tax body at the place of their registration when implementing the provisions of Item 1.1 of Article 859 of the Civil Code of the Russian Federation. The given provision envisages the bank's right to refuse, while warning the client in writing, to execute the bank account contract in the absence of monetary resources on the client account for two years and operations on this account, if otherwise is not envisaged in the contract.

Explains the procedure of drawing up by the bank in this case of the appropriate notification of the tax body of the closing of the client account.

When the bank closes the account on a unilateral basis, the taxpayer may not be called to account for the violation of the time limit of submission of information of the closing of the account in the bank if he was notified of it by the bank.

The closing of the taxpayer account on a unilateral basis by the bank may not serve as grounds to revoke the decision of the tax body to suspend operations on the taxpayer account and, therefore, the opening of new accounts to the taxpayer by the bank and execution of orders on them to transfer resources to parties other than execution of the duties to pay the tax or fee, or another payment order of the higher priority as compared to payments to the budget (extra-budgetary fund), shall entail a tax liability for the bank.