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 12.01.2007

Federal Lw No. 4-FZ of January 10, 2007 on the Amendment to Article 27 of the Federal Lw on the Procedure of Exit from the Russian Federation and Entry in the Russian Federation <br>

Refines the grounds to put the stamps of restriction of entry in the Russian Federation in the personal identification document of a foreign citizen or stateless person. The grounds of restriction of entry in the Russian Federation do not include now the failure to present a medical insurance policy valid in the Russian Federation, since the given restriction may occur for an insignificant period of time and is removed by presenting the policy. Two new reasons are introduced. These are, first, the presence of an outstanding conviction for a heavy or specially heavy crime with the foreign citizen or stateless person and, second, a decision on unwanted stay (living) in the Russian Federation taken for the foreign citizen or stateless person.

Letter of the Federal Treasury No. 42-7.1-15/2.4-517 of December 25, 2006 on the Results of Submission of the Budget Reports by Chief Administrators of Resources of the Federal Budget for the Year 2005 and 9 months of 2006 <br>

When drawing up the balance report of execution of the budget, the budget records should not register land plots granted for unlimited use which the budget-supported institution may not dispose of in compliance with the Land Code of the Russian Federation; securities forming the debts of the Russian Federation must be handed over to the administrator - the Ministry of Finance of Russia; cash residues are not envisaged in the cash department of the institution (its availability for making expenses in the first days of 2007 must be coordinated with the Ministry of Finance of Russia).

Analysis of reports of execution of the budget of the chief administrator (administrator), recipient of resources of the budget showed that not all administrators of incomes conclude agreements with departments of the Federal Treasury in the subjects of the Russian Federation, making it more difficult to verify the figures between the bodies of the Federal Treasury and administrators of receipts in the federal budget.

Report of execution of the budget for resources from entrepreneurial and other profitable activities of some chief administrators in Section 1 "Budget Incomes' contained information on incomes with the code of activities 1, i.e. incomes that must be registered as incomes of the federal budget. It is explained that Section 1 "Incomes' of the report must contain incomes of code 3 00 00000 00 0000 000 "Incomes from Entrepreneurial and Other Profitable Activities" (with a breakdown by the appropriate type of incomes) and of code 1 17 01010 01 0000 180 "Unidentified Receipts Transferred to the Federal Budget".

The Federal Treasury suggests examples of individual tables and forms of the explanatory note to the annual budget reports for the year 2006.

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