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 19.01.2007

Decision of the Government of the Russian Federation No. 17 of January 17, 2007 on the Interim Rates of Import Customs Duties for Individual Types of Meat of Bovine Animals and on the Amendment to the Decision of the Government of the Russian Federation No. 732 of December 5, 2005

Introduces the rates of import customs duties for individual types of meat of bovine animals until December 31, 2007 in the amount of 30% of the customs cost, however, not less than EUR 0.3 per kg.

The limiting levels of the rates of export duties for 2007 for poultry meat and edible offal of Heading 0105 of the Foreign Trade Commodity Nomenclature, fresh, chilled or frozen (code according to the Foreign Trade Commodity Nomenclature of Russia 0207), are increased to 60% of the customs cost, however, not less than EUR 0.48 per kg (earlier, 50%, however not less than EUR 0.4 per kg).

The Decision is entered into force one month after the day of its official publication.

Decision of the Government of the Russian Federation No. 16 of January 17, 2007 on the Endorsement of the Rates of Export Customs Duties for Raw Oil and Individual Categories of Commodities of Oil Exported from the Territory of the Russian Federation Outside the Member-States of the Customs Union Agreements

From February 1, 2007 reduces the rates of export customs duties for raw oil and individual categories of commodities of oil. The rate of the export duty for raw oil is reduced by USD 1 to make USD 179.7 per ton.

Export from the Russian Federation of propane, butane, ethylene, propylene, butylenes, butadiene and other liquefied gasses, xylenes, light and medium distillates, gas oils, benzene, toluene will be subject to the rate of USD 133.4 per ton (at present, USD 134).

The rate of the export customs duty for liquid fuels, oils, spent oil products, petrolatum, oil coke, oil bitumen and other residues of processing of oil or oil products from bituminous materials (other than calcined oil coke) will make USD 71.8 (earlier, USD 72.2) per ton.

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