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 13.04.2006

Decision of the Government of the Russian Federation No. 203 of April 10, 2006 on the Currency Operation Carried out by the Ministry of Defence of the Russian Federation

The Ministry of Defence of Russia (foreign intelligence body of the Ministry of Defence of Russia) is entitled to carry out without restrictions any types of currency operations regulated by the Federal Law on currency regulation and currency control.

Order of the Business Management Department of the President of the Russian Federation No. 49 of March 31, 2006 on the Endorsement of the Rules of Granting Subsidies in 2006 at the Expense of Resources of the Federal Budget to the Federal State Unitary Enterprises Maintaining and Operating Federal Immovable Property outside the Russian Federation

Specifies the procedure and terms of granting subsidies at the expense of resources of the federal budget to the federal state unitary enterprises maintaining and operating federal immovable property located outside the Russian Federation and used to house representations of the Russian Federation and state bodies of the Russian Federation, as well as searching and protecting the federal immovable property located outside the Russian Federation.

The subsidies are provided within the limits of budget allocations and limits of budget obligations envisaged for the Business Management Department of the President of the Russian Federation on contractual basis on the terms of co-financing of expenses to the federal state unitary enterprise. They are allocated for current and capital expenses pertaining to the maintenance, operation, search and protection of the federal immovable property located outside the Russian Federation.

Recipients of subsidies must submit to the Business Management Department of the President a report of the use of subsidies in accordance with the concluded contract.

Letter of the Department of the Tax and Customs Tariff Policy of the Ministry of Finance of the Russian Federation No. 03-06-03-04/32 of February 14, 2006

The Ministry of Finance of Russia thinks that the payment of the state duty for the cases of appeals to courts of foreign legal entities (foreign citizens) that do not have a permanent representation (representative) and rouble accounts on the territory of the Russian Federation through authorised representatives in Russia who have rouble and foreign currency accounts is in contradiction of the provisions of the Tax Code.

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