Windfall tax for major companies to be introduced in Russia

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Monitoring of the Federal Legislation dated 10.07.2006

Decision of the Government of the Russian Federation No. 413 of July 3, 2006 on the Endorsement of the Forms of Financial Reporting Documents of Execution of the Federal Budget for Submission to the Audit Chamber of the Russian Federation <br>



Beginning with reports as of August 1, 2006, introduces obligatory for all federal bodies of executive power, enterprises, institutions and organisations participating in the budget process financial reports of execution of the federal budget for submission to the Audit Chamber of the Russian Federation.

The given reports are introduced in execution of Article 14 of the Federal Law on the Audit Chamber of the Russian Federation.

The forms of documents of financial reports has been specified and the procedure of drawing up and submission of reports will be worked out and endorsed within one month.

Decision of the Government of the Russian Federation No. 411 of July 3, 2006 on the Amendments to Some of the Acts of the Government of the Russian Federation on the Generation of the Accumulated Part of the Labour Pension through the Non-State Pension Fund Providing Obligatory Pension Insurance <br>



Refines the grounds and procedure of transfer of accumulated pensions to finance the accumulated part of the labour pension from one non-state pension fund to another non-state pension fund or from a non-state pension fund to the Pension Fund of the Russian Federation. Accumulated pensions registered on the pension account shall be transferred no later than March 31 of the year following the year of submission by the insured of the application to transfer from fund to fund. In case of a court ruling revoking the fund’s license for activities in pension support and pension insurance, accumulated pensions shall be transferred no later than within 3 months form the day of adoption of the appropriate decision by the court.

Appropriate amendments are introduced in the typical contract of obligatory pension insurance between the non-state pension fund and the insured and in the typical insurance rules of the non-state pension fund providing obligatory pension insurance.

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