Windfall tax for major companies to be introduced in Russia

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Monitoring of the Federal Legislation dated 18.12.2006

Decision of the Government of the Russian Federation No. 764 of December 14, 2006 on the Endorsement of the Rules of Calculation and Collection of Payment for the Use of Federally Owned Water Objects

Defines the procedure of calculation and collection of payment for the use of federally owned surface water objects (or parts thereof) provided under water-use contracts for: intake of water from water objects or parts thereof; use of water objects or parts thereof without intake of water for production of eclectic power; use of the water area of the water objects or parts thereof for recreational purposes. The rules have been worked out in pursuance of the entry into force from January 1, 2007 of the new Water Code of the Russian Federation No. 74-FZ of June 3, 2006. The Decision defines the principles used to specify the payment.

Calculation of the amount of payment is made by natural persons and legal entities acquiring the right of use of surface water objects (or parts thereof). The payment period is assumed to be the quarter. The amount of payment is determined as a product of the payment base and its appropriate rate of payment. The payment base is specified in the contract for each type of use of water objects and is determined separately for each water object or part thereof.

The payment base is: for the payers consuming water - the volume of permissible intake of water, including the volume of intake for transfer to users in the payment period; for the payers using water objects or parts thereof without consuming water for the purposes of hydro power stations - the quantity of produced electric power in the payment period; for the payers using the water area of the water objects or parts thereof - provided area of the water object or part thereof. The Decision specifies the cases permitting a recalculation of the amount of the payment and its procedure. The payment is transferred at the place of use of the water object or part thereof no later than the 20th of the month following the expired payment period. The payment is transferred to the federal budget.

The Decision is entered into force from January 1, 2007.

Decision of the Government of the Russian Federation No. 761 of December 13, 2006 on the Additional Restrictions on the Investing of Resources of Accumulated Pensions and the Savings of the Housing Support for Servicemen in the Deposits in Roubles in Credit Organisations

Introduces additional restrictions on the investing of resources of accumulated pensions and the savings of the housing support for servicemen in deposits in roubles in credit organisations. Among such restrictions are: presence with the credit organisation of the general license of the Bank of Russia for bank operations; presence with the credit organisation of own resources (capital) in the amount of at least Rbl 5 billion as of the most recent reporting date; period of activities of the credit organisations from the date of its registration at least 5 years; absence of sanctions to the credit organisations in the form of suspension or revocation of the license for bank operations in the whole period of its activities and other.

The Decision also endorses the rules of control of observation of the mentioned additional restrictions. The main authority in this area is granted to the Federal Service for Financial Markets of Russia that gets on the monthly basis from the Bank of Russia information on credit organisations where the resources of accumulated pensions and the savings of the housing support for servicemen may be placed in deposits in roubles used by the Service to form the list of the mentioned credit organisations, amend the list of the credit organisations; publish their list, as well as reports of amendments to it in the Internet.

The Decision vests the authority of the above control in the management organisations placing the mentioned resources, as well as the specialised depositaries having concluded the contracts for services with the Pension Fund of the Russian Federation, federal body of executive power providing for the functioning of the accumulated mortgage system of housing support for servicemen or the non-state pension fund providing obligatory pension insurance.

Decision of the Government of the Russian Federation No. 760 of December 13, 2006 on the Endorsement of the Rules of Connection and Interaction of Communication Networks for Distribution of TV and Radio Broadcasting Programs

While providing to communication operators the right to connect their telecommunication networks to the public-use communication network on the basis of contract for network connection, the Federal Law on communication specifies the duty of operators of the public-use communication network to render connection services to other communication operators according to the rules endorsed by the Government of the Russian Federation.

The rules regulate the procedure of connection and interaction of the TV and radio broadcasting communication networks, procedure of connection of TV and radio broadcasting communication networks and their interaction with a TV and radio broadcasting communication network of an operator of the radio broadcasting communication network being a major operator in a public-use communication network, as well as significant terms of connection of telecommunication networks and their interaction.

Connection of TV and radio broadcasting communication networks and their interaction is possible in the presence with the operators of contracts for distribution of TV and radio broadcasting programs with the same broadcasting organisation or his legal representative.

A major operator of a TV and radio broadcasting communication network must provide in similar circumstances equal terms of connection of TV and radio broadcasting communication networks and transfer of signals of TV and radio programs for communication operators rendering similar services on the same terms and of the same quality as for its own structural divisions and/or affiliated parties.

The rules are entered into force from March 1, 2007.

Decision of the Government of the Russian Federation No. 757 of December 13, 2006 on the Authority of the Ministry of Natural Resources of the Russian Federation in the Sphere of Water Relations

Pursuant to the entry into force from January 1, 2007 of the new Water Code of the Russian Federation, expands the authority of the Ministry of Natural Resources of the Russian Federation in the sphere of water relations.

From January 1, 2007, the Ministry of Natural Resources of Russia will endorse the procedure of use of water resources of water storages and the rules of technical operation and outfit of water storages, as well as the list of objects subject to the federal state control and enforcement of use and protection of water objects, since the state control is subdivided into the federal and the regional one.

The new Water Code of the Russian Federation envisages opportunities of handing over of individual authority of the Russian Federation in the sphere of water relations to the bodies of state power of the subjects of the Russian Federation. In this connection, the Ministry of Natural Resources of Russia is empowered with authority to define the content and forms of submitted reports of implementation by the bodies of state power of the subjects of the Russian Federation of the authority of the Russian Federation in the sphere of water relations and target forecasts handed over to them for implementation. The Ministry of Natural Resources of Russia may adopt methodology recommendations and instructions for the implementation of the handed over authority obligatory for execution by the subjects of the Russian Federation. In cases of inappropriate implementation by the bodies of state power of the subjects of the Russian Federation of the handed over authority, the Ministry of Natural Resources of Russia may intr oduce a proposal to the Government of the Russian Federation to withdraw it.

Besides, the Ministry of Natural Resources of Russia is empowered with authority to endorse the form of the warning of the demand to terminate the right of use of the water object. The mentioned warning will be put forward to the user of water resources in cases of inappropriate use of the water object or the failure to use it within specified time limits and precede the demand to terminate the right of use of the water object.

The Decision is entered into force from January 1, 2007.

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