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 27.03.2007

Decree of the President of the Russian Federation No. 403 of March 21, 2007 on the Amendments to Some of the Acts of the President of the Russian Federation on the State Management in the Sphere of Migration Policy

Delimits the authority of the Ministry of Internal Affairs of Russia and the Federal Migration Service of Russia in the sphere of migration.
      In particular, the sphere of reference of the Ministry of Internal Affairs of Russia does not include now the function of implementation of the state policy and the normative-and-legal regulation in the sphere of migration. The mentioned functions are handed over to the Federal Migration Service of Russia. According to the amendments, the Ministry is only working out the state policy in the sphere of migration.
      The Decree is entered into force from the day of its signing.

Decision of the Government of the Russian Federation No. 169 of March 21, 2007 on the Procedure of Carrying out of Conversion Operations "Debt in Exchange for Commodities and/or Services" Pertaining to Redemption and Servicing of the External State Debt of the Russian Federation

Endorses the rules regulating the procedure and terms of carrying out of conversion operations "debt in exchange for commodities and/or services" pertaining to the redemption and servicing of the state external debt of the Russian Federation and their financing at the expense of resources of the federal budget, as well as activities of the federal bodies of executive power and the Foreign Trade Bank carried out in the course of these operations according to the agreements between the Russian Federation and the creditor countries on the implementation of the conversion operations.

Order of the Ministry of Finance of the Russian Federation No. 10n of February 8, 2007 on the Amendments to the List of Information on the Labelled Alcoholic Products Entered in the Special Federal Stamps for Reading in the Technical Means of the Joint State Automatic Information System of Registration of the Volume of Production and Circulation of Ethyl Alcohol, Alcoholic and Alcohol-Containing Products and the Format of the Entered Information Endorsed by the Order of the Ministry of Finance of the Russian Federation No. 3n of January 13, 2006

The introduced amendments pertain to the composition of information entered in the form of a two-dimensional bar code on the special federal stamps used for labelling of alcoholic products.
      Registered in the Ministry of Justice of the Russian Federation on March 22, 2007. Reg. No. 9129.

Order of the Ministry of Agriculture of the Russian Federation No. 84 of February 13, 2007 on the Organisation of Works to Issue Import Quarantine Permissions

Endorses the procedure of organisation of works of the Federal Service of Veterinary and Phytosanitary Enforcement to issue import quarantine permissions for the import to the territory of the Russian Federation of products (materials, cargo) subject to quarantine measures.
      Registered in the Ministry of Justice of the Russian Federation on March 21, 2007. Reg. No. 9127.

Letter of the Ministry of Finance of the Russian Federation No. 03-07-15/31 of March 7, 2007

From January 1, 2007 introduces the norm of the Tax Code of the Russian Federation stating that in commodity exchange operations, offsetting of mutual claims, use of securities for payments, the amount of tax put forward by the taxpayer to the buyer of commodities (works, services, proprietary rights) is paid to the taxpayer on the basis of the payment order for transfer of monetary resources. The Letter explains the procedure of determination of the amount of value added tax due for exemption with the buyers of commodities (works, services, proprietary rights) in cashless forms of payments.

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