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Monitoring of the Federal Legislation dated 28.04.2006

Decision of the Government of the Russian Federation No. 245 of April 25, 2006 on the Increase of the Salaries for the Occupied Position to Members of Presidiums and Office Personnel of the Presidiums of the Russian Academy of Medical Sciences, Russian Academy of Agricultural Sciences, Russian Academy of Education, Russian Academy of Arts and the Russian Academy of Architecture and Construction Sciences

Salaries for the occupied position to the mentioned persons are increased from January 1, 2006 1.33 times (previously, the salaries were increased in November 2003 1.11 times).

Decision of the Government of the Russian Federation No. 242 of April 25, 2006 on the Amendment to the List of International, Foreign and Russian Awards for Outstanding Achievements in the Sphere of Science and Technology, Education, Culture, Literature and Arts Exempted from Taxation

The list of awards in the sphere science and technology exempted from taxation shall include also the award of the Government of the Russian Federation in the sphere of science and technology for young scientists.

Letter of the Department of the Tax and Customs Tariff Policy of the Ministry of Finance of the Russian Federation No. 03-03-04/1/359 of April 19, 2006 on the Procedure of Determination of the Taxable Base for the Profit Tax from Organisations When Getting Property for Gratuitous Use

For profit taxation purposes, obtaining property for gratuitous use should be regarded as a gratuitous obtaining of proprietary rights. In this case, the granting of property for gratuitous use with the lender taxpayer does not form incomes included in the determination of the taxable base for the profit tax from organisations. Incomes in the form of gratuitously obtained proprietary rights must be included in non-sales incomes of the borrower. The taxpayer getting property for gratuitous use under a contract shall include in non-sales incomes gratuitously obtained right of use of property determined proceeding from market prices for the leasing of similar property.

Letter of the Department of the Tax and Customs Tariff Policy of the Ministry of Finance of the Russian Federation No. 03-04-14/07 of April 19, 2006 on the Issue of Application of the Value Added Tax by Independent Entrepreneurs Having Switched over from the Simplified System of Taxation Using Incomes As Object of Taxation to the Common Regime

When an independent entrepreneur switches over form the simplified system of taxation using incomes as object of taxation to the common taxation regime, VAT amounts for commodities purchased and paid for during the use of the simplified system of taxation and used after the switchover to the common regime of taxation in operations recognised as objects of taxation for the value added tax must be accepted for exemption.

Such conclusion may be drawn up from the provisions of Subitem 1 of Item 2 of Article 171 of the Tax Code of the Russian Federation stating that VAT amounts put forward to the taxpayer at the purchase of commodities are subject to exemptions if these commodities were purchased for operations recognised as object of taxation for the value added tax.

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