Monitoring of the Federal Legislation dated 29.08.2006

Direction of the Central Bank of Russia No. 1710-U of August 8, 2006 on the Amendments to the Regulation of the Bank of Russia No. 225-P of May 6, 2003 on the Guide of Bank Identification Codes of Participants of Payments Making Payments Through the Payment Network of the Central Bank of the Russian Federation (Bank of Russia)

Adjusts the procedure of inclusion of information on interregional storages of the Central Storage of the Bank of Russia in the Guide of Bank Identification Codes of participants of payments making payments through the payment network of the Central Bank of the Russian Federation (BIK).

Inclusion (exclusion) of information on interregional storages in the BIK Guide of Russia, as well as the changing of the details of the interregional storages, shall be arranged at the presentation Head Storage of the Central Storage of the Bank of Russia (rather than the Central Storage as before).

The Direction is entered into force 10 days after the day of its official publication in the Herald of the Bank of Russia.

Registered in the Ministry of Justice of the Russian Federation on August 23, 2006. Reg. No. 8160.

Letter of the Department of the Tax and Customs Tariff Policy of the Ministry of Finance of the Russian Federation No. 03-03-04/1/637 of August 18, 2006

Payments and rewards to employees are regarded as object of taxation for the uniform social tax if the taxpayer organisation does not include such payments in expenses reducing the taxable base for the profit tax from organisations.

Determination of the taxable base for the profit tax does not include expenses in the form of material aid paid out to employees, therefore, payments in the form of material aid made in the framework of the collective contract are not recognised as object of taxation for the uniform social tax.

Letter of the Department of the Tax and Customs Tariff Policy of the Ministry of Finance of the Russian Federation No. 03-01-15/7-213 of August 15, 2006

Cash registers used by organisations (except for the credit organisations) and independent entrepreneurs must be registered in the tax bodies at the place of registration of the organisation or independent entrepreneur as a taxpayer. If the earlier used models of cash register are excluded from the State Register of Cash Registers, they may be operated further until expiry of the normative period of amortisation.

It is permitted to reregister in the tax bodies and operate further the earlier used (registered in the tax bodies) cash registers excluded from the State Register when the normative period of amortisation has not expired in the cases of registration as an independent entrepreneur of the natural person having founded the organisation where the cash registers were registered.

Letter of the Department of the Tax and Customs Tariff Policy of the Ministry of Finance of the Russian Federation No. 03-01-15/6-182 of July 14, 2006

According to the Federal Law on the use of cash registers in cash payments and/or payments using pay cards, organisations and independent entrepreneurs may effect payments in cash without the use of cash registers when rendering services to the population on condition of issue of strict-accountability forms endorsed by the Ministry of Finance of Russia.

For organisations and independent entrepreneurs providing paid services of photocopying, printing documents on paper, loading files in cellular phones to the population, the Ministry of Finance of Russia did not endorse any forms of slips, therefore, the payments for these services must be made using cash registers or through credit institutions (cashless payments).