Windfall tax for major companies to be introduced in Russia

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Monitoring of the Federal Legislation dated 15.06.2006

Decision of the Government of the Russian Federation No. 363 of June 9, 2006 on Information Support of City Planning Activities

Defines the structure, procedure of forming and keeping of the information system of city planning activities, as well as the procedure of providing information available in the given system.

The information system is a collection of documented information on the land plots both built-up and expecting construction classified according to the cadastral division of the territory of the Russian Federation. The information system shall be maintained by the bodies of local government of the city district or municipal region. Information available in the information system shall be open and available to the public (except for the one with restricted access) and may be provided to requests of the bodies of state power and local government, natural persons and legal entities. The amount of payment for the information provided from the information system is defined by the bodies of local government and may not be greater than the maximum level specified by the Government of the Russian Federation. The Regulation also envisages the cases of providing of information free of charge.

The Regulation on the information support of city planning activities is entered into force from July 1, 2006, invalidating simultaneously the Decision of the Government of the Russian Federation No. 271 of March 11, 1999 having defined the procedure of keeping of the State City Planning Cadastre and monitoring of the objects of city planning activities in the Russian Federation.

Order of the Federal Service of Financial and Budget Enforcement No. 266 of December 7, 2005 on the Procedure of Publication and Entry into Force of the Acts of the Federal Service of Financial and Budget Enforcement Recognised by the Ministry of Justice of the Russian Federation As Not Needing the State Registration

The acts of the Federal Service of Financial and Budget Enforcement recognised by the Ministry of Justice of the Russian Federation as not needing the state registration must be published in the journal Financial Herald: Finance, Taxes, Insurance, Accounting and are entered into force from the day of their signing (endorsement) if other time limits and procedure of entry into force are not specified in these acts.

Registered in the Ministry of Justice of the Russian Federation on June 8, 2006. Reg. No. 7926.

Direction of the Central Bank of Russia No. 1688-U of May 29, 2006 on the Abandoning of the Requirement of Obligatory Use of Special Accounts for Currency Operations and on Invalidation of Individual Normative Acts of the Bank of Russia

From July 1, 2006 abandons the requirement of the obligatory use of special accounts (special bank accounts, special sections of custody accounts, special sections of personal accounts of non-residents in the system of keeping of the Register of Holders of Securities, special broker accounts) for individual types of currency operations specified in the Instructions of the Bank of Russia No. 115-I and No. 116-I of June 7, 2004.

Opportunities to open and use special accounts by participants of the business turnovers together with accounts that do not have the status of special ones is preserved for the period from July 1, 2006 to January 1, 2007.

Registered in the Ministry of Justice of the Russian Federation on June 7, 2006. Reg. No. 7924.

Direction of the Central Bank of Russia No. 1689-U of May 29, 2006 on the Invalidation of Individual Normative Acts of the Bank of Russia

From July 1, 2006 abandons the reservation requirements for individual types of currency operations introduced by the Bank of Russia and specified in the Directions of the Bank of Russia No. 1465-U of June 29, 2004 and No. 1577-U of May 6, 2005. This serves as grounds for an early return of resources earlier reserved by participants of currency operations.

Registered in the Ministry of Justice of the Russian Federation on June 7, 2006. Reg. No. 7923.

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