Windfall tax for major companies to be introduced in Russia

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Monitoring of the Federal Legislation dated 16.03.2007

Letter of the Department of the Tax and Customs Tariff Policy of the Ministry of Finance of the Russian Federation No. 03-11-05/39 of March 5, 2007

The services of accepting of orders for passenger transportation by taxi over the phone are not included in household services, therefore activities of an independent entrepreneur pertaining to such services may not be transferred to the uniform imputed income tax. The mentioned entrepreneurial activities are subject to taxation according to the common procedure or may be transferred to the simplified system of taxation.

Letter of the Department of the Tax and Customs Tariff Policy of the Ministry of Finance of the Russian Federation No. 03-04-05-01/78 of March 6, 2007

The taxpayer is entitled for the property tax exemption for the incomes tax from natural persons in the amount designated for the redemption of interest under targeted loans (credits) obtained in credit or other organisations of the Russian Federation and actually spent for the new contraction or purchase of a dwelling home, flat, room or a share (shares) in them on the territory of the Russian Federation.
      If the credit provided by the bank was spent for the purchase of a flat other than the one indicated in the credit contract, it may not be regarded as a targeted credit obtained for the purchase of the flat subject to the property tax exemption. The interest allocated to redeem the mentioned credit may not be included in the calculation of the amount of the property tax exemption.
      If the purchase of the other flat was coordinated with the bank having provided the credit, the issue of inclusion of the interest of its redemption in the calculation of the property tax exemption may be examined additionally in the case of submission of appropriate documents.

Letter of the Department of the Tax and Customs Tariff Policy of the Ministry of Finance of the Russian Federation No. 03-11-04/3/64 of March 7, 2007

The services of air conditioning and ventilation, as well as the services of construction and installation works pertaining to air conditioning and ventilation, may not be included in household services, therefore entrepreneurial activities pertaining to such services may not be transferred to the system of taxation in the form of the uniform imputed income tax. The mentioned entrepreneurial activities are subject to taxation according to the common procedure or may be transferred to the simplified system of taxation.

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