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 27.09.2006

Decision of the Government of the Russian Federation No. 585 of September 22, 2006 ?Issues of the Federal Agency for Hi-Tech Medical Aid"



The Federal Agency for Hi-Tech Medical Aid created by the Decree of the President of the Russian Federation No. 658 of June 30, 2006 is a federal body of executive power in charge of the rendering of state services and state property management in the sphere of development and implementation of the modern medical technologies, new methods of diagnostics and organisation of hi-tech medical aid. Earlier, the mentioned functions were fulfilled by the Federal Agency for Public Health and Social Development.

The Agency is supervised by the Ministry of Public Health and Social Development of the Russian Federation. Its main tasks is organisation of development and implementation of modern medical technologies, keeping of databases in the sphere of development and implementation of modern medical technologies, new methods of diagnostics and organisation of hi-tech medical aid, as well as organisation of training of medical workers for the sphere of hi-tech medical aid.

The limiting number of employees of the central office of the Agency makes 120 persons (without the building guards and servicing personnel). The Agency is permitted to have up to 4 deputy heads, as well as up to 5 departments in the main spheres of activities.

The financing of the Agency activities in 2006 will be arranged at the expense of resources of the federal budget handed over by the Federal Service of Labour and Employment and the Federal Agency of Public Health and Social Development.

Order of the Ministry of Finance of the Russian Federation No. 107n of August 23, 2006 on the Endorsement of the Procedure of Keeping of the State Ledger of Debts of the Russian Federation in the Ministry of Finance of the Russian Federation



Specifies the requirements to the structure of the State Ledger of Debts of the Russian Federation, as well as the procedure of its keeping and storage. The keeping of the Ledger of Debts is vested in the Department of International Financial Relations, State Debt and the State Financial Assets of the Ministry of Finance of Russia that will take care of its preservation, timely, full and correct keeping.

Registration in the Ledger of Debts applies to all liabilities unredeemed as of September 1, 2006.

The Ledger of Debts is kept in the form of electronic registers (tables) by the types of liabilities and contains general information on the parameters of state liabilities.

Information pertaining to an emerged liability shall be submitted for entry in the Ledger of Debts within three days from the moment of emerging. Information pertaining to the servicing of the debt (placing, paying out of incomes and redemption of the debt) shall be submitted for entry in the Ledger of Debts within the time limits envisaged in the appropriate contract or agreement concluded with the organisation attracted to service the debt.

Information of the Ledger of Debts is confidential and may be presented to the federal bodies of legislative and executive power or their authorised bodies to their requests. Other legal entities and natural persons may get information from the Ledger of Debts at the direction of the Minister of Finance.

The Ledger of Debts is stored in the form of electronic files in personal computers of the persons in charge of its keeping. Information on paper used to fill the details of the Ledger of Debts is stored in a metal safe, the key being with the persons responsible for its maintenance.

Registered in the Ministry of Justice of the Russian Federation on September 15, 2006. Reg. No. 8321.

Direction of the Central Bank of Russia No. 1717-U of August 24, 2006 on the Amendments to Item 1 of the Direction of the Bank of Russia No. 1533-U of December 22, 2004 on the Determination of the Cost of Property (Assets) and Liabilities of the Credit Organisation



The Direction of the Bank of Russia No. 1660-U of February 17, 2006 provided a new wording, beside other things, for the forms of reports of credit organisations 0409134 "Estimate of Own Resources (Capital)" and 0409155 "Information on the Reserves for Possible Losses".

This changed the procedure of calculation of the cost of property (assets) and liabilities of the credit organisation if recognised bankrupt. In the determination of the cost of property of the organisation, the total cost of assets is reduced by the amount of underestimated reserve for possible losses, which, in turn, is determined as a sum of data in Column 3 in Lines 1-6 less the sum of data of Column 6 in Lines 1-6 of Section 1 of the reporting form 0409155 (earlier, the amount of the underestimated reserve was determined as a sum of data of Columns 7-10 in Line 1 less the data of Column 12 in Line 1 of the reporting form 0409155 in the previous wording). The cost of the net debts in loans is reduced by the cost of the figure of "Amount of Underestimated Reserve for Possible Losses for the Loans of Quality Categories II-V" (Line 301 of Column 3 of the reporting form 0409134 in the new wording) instead of the earlier used figure "Amount of Underestimated Reserve for Possible Losses for the Loans of Risk Groups 2-4".

The Direction is entered into force 10 days after the day of its official publication in the Herald of the Bank of Russia. The text of the Direction is published in the Herald of the Bank of Russia on September 27, 2006, No. 53.

Registered in the Ministry of Justice of the Russian Federation on September 15, 2006. Reg. No. 8301.

Order of the Ministry of Justice of the Russian Federation No. 293 of September 14, 2006 on the Endorsement of the Administrative Regulation on the Execution of the State Function of State Registration of Rights for Immovable Property and Transactions with It



The endorsed Administrative Regulation on the execution of the state function of state registration of rights for immovable property and transactions with it has been worked out in the framework of the administrative reform carried out in the Russian Federation to provide for the state registration of the rights for immovable property and transactions with it on the timely and quality basis.

The state registration of the rights for immovable property is vested in the Federal Registration Service and its territorial bodies. The state registration confirms legally the fact of emergence, restriction (encumbrance), transfer or termination of the rights for immovable property. The state registration of rights is the only proof of existing registered right.

The state registration of rights is fee-paying. The amount and procedure of collection of the fee are defined in the tax legislation.

The Regulation specifies the requirements to the composition of the documents necessary for the state registration of rights, the terms and time limits for reception and providing advice to applicants, time limits and sequence of actions (administrative procedures) in the course of implementation of the authority of state registration of the rights for immovable property and transactions with it, the reasons of suspension or refusal of the state registration, requirements to the rooms of the territorial bodies of the Federal Registration Service. Also defines the procedure of appealing against the actions (failure to act) and decisions taken in the course of the state registration of rights.

The total time limit for the state registration of rights must not be greater than one month from the day of submission of the application and the documents necessary for the state registration of rights. The maximum waiting time when submitting the documents for the state registration of rights must not be greater than 45 minutes.

The Order provides specimens of applications for the state registration of rights for immovable property and transactions with it.

Registered in the Ministry of Justice of the Russian Federation on September 14, 2006. Reg. No. 8258.

Letter of the Central Bank of Russia No. 122-T of September 22, 2006 on the Placing of Information on the Web Sites of Authorised Banks (Branches of Authorised Banks) in the Internet on Suspension or Closing of Exchange Offices of Authorised Banks (Branches of Authorised Banks)



Credit organisations are recommended to place on their information web sites in the Internet information on exchange offices that are suspended, whose operation is prolonged or closed. Information must be placed on the day of taking such decisions and show the dates of suspension and renewal of work or the date of closing of exchange offices.

Letter of the Central Bank of Russia No. 121-T of September 20, 2006 on the Payment Documents in the Index of Payment Documents That Were Not Cleared in Due Time Because of Absence or Insufficiency of Monetary Resources on the Payer Account That Must Be Closed



In the case of closing of the branch, additional office of the credit organisation and change of details mentioned in the payment documents that were not cleared in due time because of absence or insufficiency of resources on the payer account (name, correspondent account number, payer bank identification code, name of encashment centre, payer personal account number), if accounts are opened to clients in the parent office or another branch of the credit organisation, the mentioned payment documents must be returned to the payers, recipients (recoverers) according to the procedure similar to the one specified in Item 2.20 of the Regulation of the Bank of Russia No. 2-P of October 3, 2002 on cashless payments in the Russian Federation, while indicating the reason of the return.

Thus, the payment documents received in the bank for cashless payments are returned to the recipients of resources (recoverers) through their servicing bank, while indicating the date of the closing of the account. When the bank returns the payment documents, a list of them is drawn up that must be preserved together with the legal file of the client whose account is closed. If it is impossible to return the payment and encashment orders because of the liquidation of the recipient (recoverer) bank or absence of information on the place of location of the recipient of resources (recoverer), they must be preserved together with the legal file of the client whose account is closed.

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