Monitoring of the Federal Legislation dated 28.12.2006

Order of the Ministry of Finance of the Russian Federation No. 153n of November 27, 2006 on the Endorsement of the Form of the Tax Declaration for Indirect Taxes (Value Added Tax and Excise Duty Taxes) for the Cases of Import of Commodities to the Territory of the Russian Federation from the Territory of the Republic of Belarus and Its Filling Procedure

Endorses a new form of the tax declaration for indirect taxes (VAT and excise duty taxes) for the cases of import of commodities to the territory of the Russian Federation from the territory of the Republic of Belarus, as well as its filling procedure.

The declaration is submitted by organisations and independent entrepreneurs that in compliance with the agreement between the Government of the Russian Federation and the Government of the Republic of Belarus on the principles of collection of indirect taxes in the cases of import and export of commodities, carrying out works, rendering services of September 15, 2004 must pay the value added tax and excise duty taxes to the budget to the tax bodies at the place of registration no later than the 20th of the month following the month of registration of the imported commodities.

The Order is entered into force beginning with the tax declaration for January 1, 2007.

Registered in the Ministry of Justice of the Russian Federation on December 25, 2006. Reg. No. 8669.

Direction of the Central Bank of Russia No. 1763-U of December 15, 2006 on the Amendments to the Regulation of the Bank of Russia No. 268-P of April 19, 2005 on the Procedure and Criteria of Assessment of the Financial Standing of the Natural Persons Being the Founders (Participants) of the Credit Organisation

Amends the Regulation of the Bank of Russia No. 268-P of April 19, 2005 defining the procedure and criteria of assessment of the financial standing of natural persons being the founders (participants) of the credit organisation.

An amendment is introduces stating that the financial standing of the buyer of the credit organisation is recognised satisfactory if his own resources (property) is enough for the purchase of stocks (shares) of the credit organisation and there are no other reasons to recognise his financial standing as unsatisfactory.

The Direction changes the cases requiring to carry out an assessment of the financial standing of the buyer. Thus, this assessment is necessary for the buyer having purchased more than 1% of stocks (shares) of the credit organisation in cases of increase of the registered capital or sale of stocks purchased with the participant of the credit organisation, as well as for the buyer having purchased up to 1% of stocks if in cases of increase of the registered capital the cost of the purchased stocks is greater than Rbl 10,000 and the statement of the credit organisation is not available.

Amendments are introduced in the criteria of assessment of the financial standing of the buyer. The documents are specified to be attached by the natural person to the request to carry out the assessment of his financial standing for the purpose of purchase of stocks (shares) of the credit organisation by the company he is the founder (participant) of.

Assessment of the financial standing of the buyer is not carried out in cases of registration of the report of the results of issue of stocks and/or when taking the decision on the state registration of the changes in the constituent documents pertaining to increase of the registered capital of the credit organisation. The reasons of refusal to permit the purchase of stocks (shares) of the credit organisation shall include also the failure to observe the requirements to the composition or drawing up of documents.

Registered in the Ministry of Justice of the Russian Federation on December 22, 2006. Reg. No. 8663.

Order of the Federal Customs Service No. 1208 of November 22, 2006 on the Endorsement of the Procedure of Declaring of Commodities in the Implicative Form by Natural Persons

Endorses the procedure of declaring of commodities in the implicative form by natural persons, as well as the list of the points of transfer through the state border of the Russian Federation where this form of declaring of commodities is applied.

The procedure of declaring of commodities in the implicative form by natural persons specifies the particulars of declaring of commodities orally, by committing actions showing that the hand luggage and the accompanied luggage of the natural person do not contain commodities that must be declared in writing, as well as that there are no commodities moved in unaccompanied luggage. The procedure also specifies the particulars of the outfit and markings of the special passages for the natural persons having chosen the implicative from of declaring of their moved commodities.

To permit the use of the implicative form of declaring, the points of transfer have the "red" and the "green" corridors (two-channel system) specially marked to permit the natural person to chose interpedently the form of declaring and its appropriate corridor. Customs control measures in the "green" corridor are carried out on the selective basis.

Registered in the Ministry of Justice of the Russian Federation on December 20, 2006. Reg. No. 8642.

Direction of the Central Bank of Russia No. 1756-U of December 11, 2006 on the Amendments to the Regulation of the Bank of Russia No. 230-P of June 4, 2003 on the Reorganisation of Credit Organisations in the Form of a Merger and Incorporation

Pursuant to the adoption of the Federal Law No. 60-FZ of May 3, 2006 having amended the Federal Laws on the banks and banking activities and on the Central Bank of the Russian Federation (Bank of Russia), excludes some norms of the Regulation of the Bank of Russia No. 230-P of June 4, 2003 dedicated to the reorganisation of credit organisations in the form of a merger and incorporation.

From January 1, 2007, the norms on the amount of the registered capital for the newly created credit organisations and the amount of own resources (capital) for operating credit organisations shall apply specified in the Federal Law No. 60-FZ of May 3, 2006. In this connection, the norms are excluded from the Regulation pertaining to the minimum amount of the registered capital specified by the Bank of Russia.

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

Registered in the Ministry of Justice of the Russian Federation on December 19, 2006. Reg. No. 8638.

Letter of the Central Bank of Russia No. 165-T of December 21, 2006 on the Information Disclosed by Credit Organisations

Credit organisations are recommended to present in the information on their activities placed on the site of the Bank of Russia in full amount the data of reports of form 0409101 "Sheet of Turnovers on the Accounts of the Credit Organisation" including the turnovers (monthly), as well as the data of reports of form 0409102 "Report of Profits and Losses of the Credit Organisation" (quarterly).

Letter of the Central Bank of Russia No. 163-T of December 19, 2006 on the Submission of Additional Information According to Form 0409605

In addition to the data drawn up according to the reporting form 0409605 "Information on the Residues of Resources of Credit Organisations and State Management Bodies on the Accounts Opened in the Central Bank of the Russian Federation" as of January 9, 2007, it is necessary to submit simultaneously information according to the mentioned reporting form as of January 1, 2007 (without operations of 2007).