Monitoring of the Federal Legislation dated 31.05.2007

Decision of the Government of the Russian Federation No. 255 of April 28, 2007 on the Endorsement of the Requirements to the Security Certificate of a Retail-Trade Market-Place and the List of Information in It

According to the Federal Law on the retail-trade market-places and on the amendments to the Labour Code of the Russian Federation, the security certificate is implied to be the document specifying the market-place compliance with security requirements, including those of anti-terrorist nature. The presence of the certificate is one of the obligatory conditions of organisation of work to sell commodities (carry out works, render services) at the market-place.

Letter of the Department of the Tax and Customs Tariff Policy of the Ministry of Finance of the Russian Federation No. 03-04-06-01/103 of April 2, 2007

The proprietary tax exemption in the amount spent by the taxpayer for the new construction or purchase of a house, flat or a share (shares) in them may be provided to the taxpayer at the end of the tax period when he applies to the employer - tax agent - on condition of confirmation of the taxpayer right for the proprietary tax exemption by the tax body.

Letter of the Department of the Tax and Customs Tariff Policy of the Ministry of Finance of the Russian Federation No. 03-03-06/1/204 of April 2, 2007

Expenses in the form of interest under credits granted for the purchase of equipment during conservation of works of equipment installation shall be registered in the determination of the taxable base for the profit tax as non-sale expenses in the amount not greater than the one specified in Article 269 of the Tax Code.

Decision of the Government of the Russian Federation No. 257 of April 30, 2007 on the Interim Rate of the Import Customs Duty for Industrial Unprocessed Diamonds

Introduces for 9 months the rate of the import customs duty for industrial unprocessed diamonds or simply cut, split or having undergone raw processing (code according to the Foreign Trade Commodity Nomenclature 7102 21 000 0) in the amount of 10% of the customs cost. Earlier, the rate amounted to 20% of the customs cost.
      The Decision is entered into force one month after the day of its official publication.

Decision of the Government of the Russian Federation No. 253 of April 28, 2007 on the Procedure of Keeping of the State Water Register

The Register is a collection of documented information on the water objects available in the federal property, property of the subjects of the Russian Federation, municipal formations, natural persons and legal entities and independent entrepreneurs, on the use of water objects, on river basins and basin districts. The form of the Register and the rules of entry of information in it, as well as the rules of drawing up of the registration in the Register, are endorsed by the Ministry of Natural Resources.

Direction of the Central Bank of Russia No. 1811-U of March 29, 2007 on the Amendments to the Direction of the Bank of Russia No. 1715-U of November 17, 2004 on the Payments Made by the Bank of Russia on the Deposits of Natural Persons in the Bankrupt Banks Failing to Participate in the System of Obligatory Insurance of Deposits of Natural Persons in the Banks of the Russian Federation and on the Procedure of Interaction of the Agent Banks with the Bank of Russia

The amendments are stipulated by the entry into force of the Federal Law No. 34-FZ of March 13, 2007 having increased the amount of the total insurance reimbursement for the bank deposits of citizens from Rbl 190,000 to Rbl 400,000. The insurance reimbursement is paid out to depositors if the license for bank operations is revoked.
      The Direction is entered into force 10 days after the day of its official publication in the Herald of the Bank of Russia.
      Registered in the Ministry of Justice of the Russian Federation on April 25, 2007. Reg. No. 9342.

Direction of the Central Bank of Russia No. 1819-U of April 24, 2007 on the Amendments to the Instruction of the Bank of Russia No. 108-I of December 1, 2003 on the Organisation of Inspection Activities of the Central Bank of the Russian Federation (Bank of Russia)

According to the introduced amendments, it is prohibited to include in the working group checking the bank an authorised representative of the Bank of Russia possessing shares (stocks) of the checked credit organisation and/or being a member of the management bodies of the checked credit organisation.
      The Direction is entered into force 10 days after the day of its official publication in the Herald of the Bank of Russia.

Letter of the Department of the Tax and Customs Tariff Policy of the Ministry of Finance of the Russian Federation No. 03-03-06/1/222 of April 5, 2007

Explains the procedure of registration of expenses for the services under the outsourcing contract (personnel provided by an outside organisation) for the profit taxation purposes.

Amendment to the Regulation on the Committee of Banking Enforcement of the Bank of Russia (Endorsed by the Decision of the Board of Directors of the Central Bank of Russia of March 26, 2007 (Protocol of Session 6))

The sphere of reference of the Committee of Banking Enforcement does not include now the keeping and changing of prudential norms of activities of credit organisations. Earlier, the Committee enjoyed such authority in cases that did not require the Decision of the Board of Directors of the Bank of Russia.

Federal Law No. 64-FZ of April 26, 2007 on the Amendments to Individual Legislative Acts of the Russian Federation Pursuant to Adoption of the Federal Law on the Amendments to the Federal Law on the Main Guarantees of Electoral Rights and the Right to Participate in the Referendum of the Citizens of the Russian Federation and to the Code of Civil Procedures of the Russian Federation, As Well As to Implement the Legislation of the Russian Federation on Elections and Referendums

The adopted Law brings a number of legislative acts in compliance with the provisions of the Federal Law on the main guarantees of electoral rights and the right to participate in the referendum of the citizens of the Russian Federation and introduces mechanisms providing for the efficiency of the electoral legislation.
      The Federal Law is entered into force from the day of its official publication except for individual provisions where another time limit for the entry into force is specified.

Order of the Ministry of Transport of the Russian Federation No. 28 of March 13, 2007 on the Endorsement of the Rules of Sale of Cargo on the Railway Transport

The manual of the railway transport of the Russian Federation permits the carriers to sell cargo independently in the absence of the consignee at the station of destination (if the consignor did not take the decision on the cargo destination and there is no opportunity to return such cargo to the consignor), in cases of failure to transfer the payment for the cargo transportation (for foodstuffs and perishable goods), cargo detention at the borderline and port transfer stations by the customs bodies or other bodies of state control (enforcement) because of violation of the rules of cargo transportation or customs rules by the consignor, as well as in some other cases.
      Registered in the Ministry of Justice of the Russian Federation on April 27, 2007. Reg. No. 9363.

Order of the Ministry of Public Health and Social Development of the Russian Federation and the Russian Academy of Medical Sciences No. 252/24 of April 9, 2007 on the Amendments to the Order of the Ministry of Public Health and Social Development of Russia and the Russian Academy of Medical Sciences No. 448/106 of December 13, 2001 on the Endorsement of the List of Human Organs - Objects of Transplantation - and the List of Public Health Institutions Permitted to Carry out Transplantation of Organs

According to the Law of the Russian Federation on the transplantation of human organs and/or tissues, the transplantation is permitted only in specialised public health institutions, the list being specified by the Ministry of Public Health and Social Development of the Russian Federation together with the Russian Academy of Sciences.
      Registered in the Ministry of Justice of the Russian Federation on April 27, 2007. Reg. No. 9361.

Decision of the Chief State Sanitary Physician of the Russian Federation No. 13 of March 27, 2007 on the Endorsement of Sanitary Rules SP 1.1.2193-07

According to the Regulation on the state sanitary and epidemiological enforcement in the Russian Federation endorsed by the Decision of the Government of the Russian Federation No. 569 of September 15, 2005, the sanitary and epidemiological enforcement in the Russian Federation is vested in the Federal Service of Enforcement in the Sphere of Protection of Consumer Rights and Human Well-Being, its territorial bodies and other federal bodies of executive power and their territorial bodies (including the Ministry of Internal Affairs of Russia, Ministry of Defence of Russia, Federal Service of Execution of Punishments of Russia, Federal Medical and Biological Agency of Russia) rather than state sanitary and epidemiological service being a joint federal centralised system of bodies and institutions.
      Sanitary rules SP 1.1.2193-07 are entered into force from June 1, 2007.
      Registered in the Ministry of Justice of the Russian Federation on April 26, 2007. Reg. No. 9357.

Federal Law No. 65-FZ of May 1, 2007 on the Amendments to the Federal Law on the Technical Regulation

Refines the sphere of application of the Law. According to the amendments, it does not apply now not only to the state educational standards, provisions (standards) on accounting work and the rules (standards) of audit activities, standards of issue of securities and prospectuses of securities, but also to the socio-economic, organisational, sanitary and hygienic, medical treatment and prevention, rehabilitation measures in the sphere of labour safety. Besides, the Law does not regulate relations pertaining to measures of prevention and dissemination of mass human infections, prevention of human diseases, medical aid (except for the cases of development, adoption, application and execution of obligatory requirements to products, including medicines, medical equipment, foodstuffs), as well as the measures of protection of soil, atmospheric air, water objects, resorts, water objects included in the places of tourism and leisure.

Order of the Ministry of Finance of the Russian Federation No. 32n of April 9, 2007 on the Amendments to the Order of the Ministry of Finance of the Russian Federation No. 113n of December 8, 2003

Amends the list and composition of the forms of accounting reports of insurance organisations and reports of the given organisations submitted according to the enforcement procedure as endorsed by the Order of the Ministry of Finance of Russia No. 113n of December 8, 2003.
      Registered in the Ministry of Justice of the Russian Federation on April 26, 2007. Reg. No. 9359.

Federal Law No. 68-FZ of May 7, 2007 on the Victory Flag

To perpetuate the people's heroic deed in the Great Patriotic War of 19412-1945, to commemorate the merits of soldiers of the Soviet Armed Forces in the face of the Fatherland and as a gratitude of descendants to the winners of fascist occupants, specifies the status of the Victory Flag, the legal fundamentals of its storage and use.

Decision of the Plenum of the Supreme Court of the Russian Federation No. 14 of April 26, 2007 on the Practice of Processing by Courts of Criminal Cases of Violation of the Copyright, Adjacent, Inventor and Patent Rights, As Well As of Illegal Use of the Trade Mark

The Plenum of the Supreme Court of the Russian Federation has prepared explanations on the vital issue of protection of the copyright and adjacent rights. The Plenum explained in particular what is protected by the copyright and what is not an object of the protection.

Letter of the Central Bank of Russia No. 60-T of April 27, 2007 on the Particulars of Servicing of Clients by Credit Organisations Using Technologies of Remote Access to the Client Bank Account (Including the Internet Banking)

Contains recommendations for the credit organisations to minimise their legal risks and the risks of loss of business reputation when their clients carry out doubtful operations using technologies of remote access to the bank account (including the Internet banking).

Federal Law No. 67-FZ of May 7, 2007 on the Ratification of the Documents of Amendments to the Charter and the Convention of the International Telecommunication Union of 1992

Ratifies the documents of amendments to the Charter and the Convention of the International Telecommunication Union (ITU) of 1992 adopted by the ITU Plenipotentiary Conference and signed in Marrakech (Kingdom of Morocco) on October 18, 2002.

Federal Law No. 66-FZ of May 7, 2007 on the Amendment to Article 11.7 of the Code of Administrative Violations of the Russian Federation

The notion of "small vessel" applied in the Code of Administrative Violations of the Russian Federation shall include in addition recreational vessels with the carrying capacity not greater than 12 persons regardless of the power rating of the main engine (main engines) and the total capacity, as well as the water bikes.

Decision of the Government of the Russian Federation No. 263 of May 5, 2007 on the Amendments to the Customs Tariff of the Russian Federation and the Decision of the Government of the Russian Federation No. 732 of December 5, 2005

From the Foreign Trade Commodity Nomenclature of the Russian Federation, excludes subheadings used to identify other deboned meat and other meat with codes 0203 29 550 9 and 0203 29 900 9. Includes in addition subheadings 0203 29 550 2, 0203 29 550 8, 0203 29 900 2, 0203 29 900 8 to identify trimmings and other meat.
      The Decision is entered into force one month after the day of official publication.

Order of the Ministry of Natural Resources No. 74 of April 2, 2007 on the Endorsement of the Form of the Forestry Declaration and the Procedure of Its Filling and Submission

According to the Forestry Code having entered into force from January 1, 2007, the parties having obtained parts of forests for permanent use or on leasing terms shall submit on the annual basis to the bodies of state power, bodies of local government the forestry declaration, which is a declaration of use of forests in compliance with the forestry development project.
      Registered in the Ministry of Justice of the Russian Federation on April 26, 2007. Reg. No. 9345.

Letter of the Central Bank of Russia No. 61-T of May 3, 2007 on the Measures to Refine the Unidentified Receipts in the Federal Budget

To refine the unidentified receipts in the federal budget, the territorial institutions of the Bank of Russia and the Department of Licensing of Activities and Financial Rehabilitation of Credit Organisations are ordered to request appropriate departments of the Federal Treasury in the subjects of the Russian Federation to provide documents on unidentified receipts in the federal budget where the Bank of Russia is defined as administrator.

Decision of the Government of the Russian Federation No. 266 of May 5, 2007 on the Hi-Tech Medical Aid to Be Rendered in 2007 to the Citizens of the Russian Federation from the Federal Budget

Endorses the rules regulating the procedure of generation in 2007 of the state order for the hi-tech medical aid to be rendered to the citizens of the Russian Federation and financed at the expense of the federal budget in the framework of the program of state guarantees of free medical aid to the citizens of the Russian Federation in 2007.
      The Decision is entered into force from the day of its official publication and applies to legal relations emerging from April 1, 2007.

Order of the Federal Customs Service No. 511 of April 23, 2007 on the Amendments to the Order of the State Customs Committee of Russia No. 1539 of December 25, 2003

From June 27, 2007, enters into force the Decision of the Government of the Russian Federation stating that the Republic of Bulgaria and the Republic of Romania having become members of the European Union from January 1, 2007 are excluded from the list of user countries of the scheme of preferences of the Russian Federation.
      The Order is entered into force from June 27, 2007.

Letter of the Department of the Tax and Customs Tariff Policy of the Ministry of Finance of the Russian Federation No. 03-07-15/47 of April 4, 2007

The moment of determination of the taxable base for the value added tax for the property leasing services is the earlier of the dates: day of payment (partial payment) for the anticipated services or the last day of the tax period where the services are rendered regardless of the subsequent time of receiving of the rent in the periods specified in the lease contract.

Decision of the Government of the Russian Federation No. 276 of May 10, 2007 on the Amendments to the Rules of Rendering of Public Catering Services Endorsed by the Decision of the Government of the Russian Federation No. 1036 of August 15, 1997

Provides a new wording for the rules of rendering of public catering services.

Decision of the Government of the Russian Federation No. 273 of May 8, 2007 on the Calculation of the Amount of Damage Incurred on the Forests Because of the Violation of the Forestry Legislation

According to the new Forestry Code of the Russian Federation having entered into force from January 1, 2007, the damage incurred on the forest plantations or trees not included in forest plantations, bushes and lianas because of violation of the forestry legislation must be reimbursed on the obligatory basis.
      The Decision of the Government of the Russian Federation No. 388 of May 21, 2001 having endorsed the rates for the calculation of the amount of sanctions for the damage incurred on the forestry fund and the forests not included in the forestry fund by the violation of the forestry legislation of the Russian Federation is invalidated.

Decision of the Government of the Russian Federation No. 271 of May 8, 2007 on the Amendments to the Customs Tariff of the Russian Federation Pertaining to Used Semi-Trailers Aged 7 Years and More

To support domestic producers of trucks, introduces import customs duties for used semi-trailers aged 7 years and more with the total weight greater than 15 tons and the length not less than 13.6 m in the amount of EUR 126 per ton of total weight and refrigerator semi-trailers with internal capacity at least 76 m3 in the amount of EUR 70 per cubic meter of internal capacity. The mentioned rates of the import customs duties are introduced for 9 months.
      The Decision is entered into force 2 months after the date of its official publication.

Order of the Federal Service for Financial Markets No. 01-31/pz-n of March 29, 2007 on the Amendments to the Regulation on the Activities of Organisation of Trade at the Securities Market Endorsed by the Order of the Federal Service for Financial Markets No. 06-68/pz-n of June 22, 2006

The amendments pertain to the procedure of permitting securities for tenders, carrying out the tenders, control and monitoring carried out by organisers of trade, as well as of disclosing and providing information.
      Registered in the Ministry of Justice of the Russian Federation on May 2, 2007. Reg. No. 9371.

Order of the Ministry of Economic Development of the Russian Federation No. 39 of February 15, 2007 on the Endorsement of the Methodology Recommendations on the State Cadastral Assessment of Lands of Residential Settlements

Endorses the Methodology Recommendations on the state cadastral assessment of lands of residential settlements.
      Registered in the Ministry of Justice of the Russian Federation on May 2, 2007. Reg. No. 9370.

Order of the Federal Service of Enforcement in the Sphere of Protection of Consumer Rights and Human Well-Being No. 90 of April 2, 2007 on the Amendments to the Order of the Federal Service of Enforcement in the Sphere of Protection of Consumer Rights and Human Well-Being No. 147 of June 5, 2006 and Endorsement of the Forms of Documents Used in the Course of Licensing

The Decision of the Government of the Russian Federation No. 208 of April 11, 2006 endorsed the form of the document confirming the presence of the license. Besides, the licensing bodies are ordered to endorse the forms of applications for the granting and redrawing of licenses, as well as the notifications, orders, excerpts from registers of licenses and other documents used in the course of licensing.
      Registered in the Ministry of Justice of the Russian Federation on May 3, 2007. Reg. No. 9397.

Regulation of the Central Bank of Russia No. 303-P of April 25, 2007 on the Real-Time Gross Settlement System of the Bank of Russia

Defines the rules of functioning of the real-time gross settlement system of the Bank of Russia known as the urgent electronic bank settlement system (BESP).
      The Regulation is entered into force from July 1, 2007.

Direction of the Central Bank of Russia No. 1822-U of April 25, 2007 on the Procedure for Making Payments in the Real-Time Gross Settlement System of the Bank of Russia

Regulates the procedure of making payments in the real-time gross settlement system of the Bank of Russia known as the urgent electronic bank settlement system (BESP) by the system participants and of management of participation in the system.
      The Direction must be published officially in the Herald of the Bank of Russia and is entered into force from July 1, 2007.

Federal Law No. 69-FZ of May 10, 2007 on the Amendments to Individual Legislative Acts of the Russian Federation Pertaining to the Procedure of Reservation of Lands for the State and Municipal Needs

To eliminate the gap in the legal regulation of relations in the sphere of reservation of lands for the state and municipal needs, amends the Land and the City-Planning Codes, federal laws on the transfer of lands or land plots from one category into another, on the entry into force of the City-Planning Code of the Russian Federation and a number of other. The Land Code is extended to include the norms defining the grounds, procedure and time limits of reservation of lands, the authority of the state and municipal bodies in the mentioned sphere.

Order of the Ministry of Finance of the Russian Federation No. 3n of January 10, 2007 on the Particulars of Accounting Work of Non-State Pension Funds

According to the particulars, generation of accounting reports of a non-state pension fund must provide for the observation of the requirement prohibiting the mixing (keeping separate records) of the property intended for the chartered activities of the fund, the property forming the pension reserves and the property forming the accumulated pensions, as well as the one on the keeping of records of pension reserves, accumulated pensions and appropriate payments separately for the non-state pension support and for the obligatory pension insurance.
      The Order is entered into force beginning with accounting reports for the year 2007.
      Registered in the Ministry of Justice of the Russian Federation on May 2, 2007. Reg. No. 9379.

Direction of the Bank of Russia No. 1826-U of May 14, 2007

From July 1, 2007, the normative of obligatory reserves for obligations to non-resident banks in the currency of the Russian Federation and in foreign currencies, as well as for other obligations of credit organisations in the currency of the Russian Federation and obligations in foreign currencies, is fixed in the amount of 4.5%, for obligations of credit organisations to natural persons in the currency of the Russian Federation - in the amount of 4%.

Letter of the Ministry of Finance of the Russian Federation No. 07-05-06/106 of April 24, 2007

Explains the issue of application of the notion of "primary accounting documents" for the purposes of the profit tax from organisations.

Letter of the Department of the Tax and Customs Tariff Policy of the Ministry of Finance of the Russian Federation No. 03-07-15/1/4 of March 29, 2007

According to the amendments introduced in the Tax Code of the Russian Federation by the Federal Law 134-FZ of July 26, 2006, the maximum retail price is applied from January 1, 2007 for the sale of cigarettes on the territory of the Russian Federation in the determination of the amount of excise duty tax for the ad valorem component of the tax rate.

Federal Law No. 74-FZ of May 15, 2007 on the Amendments to the Federal Law on the Federal Budget for the Year 2007

The amendments bring the provisions of the federal budget for the year 2007 in compliance with the Forestry Code having entered into force from January 1, 2007.
      The Federal Law is entered into force from the day of its official publication.

Federal Law No. 73-FZ of May 10, 2007 on the Dissolution of Some of the Regional Courts of the Pskov Province

One year after the entry into force of the Federal Law, dissolves the Krasnogorodsky, Pustoshkinsky and the Ustvyatsky regional courts of the Pskov Province. The issues of their sphere of reference are handed over to the Pytalovsky, Opochetsky and the Nevelsky regional courts respectively of the Pskov Province.
      The Federal Law is entered into force 30 days after the day of its official publication.

Federal Law No. 72-FZ of May 10, 2007 on the Dissolution of the Tungiro-Olekminsky Regional Court of the Chita Province

One year after the entry into force of the Federal Law, dissolves the Tungiro-Olekminsky Regional Court of the Chita Province. The issues of its sphere of reference are handed over to the Mogochinsky Regional Court of the Chita Province.
      The Federal Law is entered into force 30 days after the day of its official publication.

Order of the Federal Service for Financial Markets No. 07-37/pz-n of April 3, 2007 on the Endorsement of the Procedure of Carrying out of Activities of Management of Securities

According to the actual legislation, activities of management of securities imply the trust control on behalf of the legal entity in its own name for a reward during a certain period of time for the handed over to it in possession and owned by another entity in the interests of this entity or third parties indicated by this entity: securities; monetary resources intended for investing in securities; monetary resources and securities obtained in the course of management of securities.
      Registered in the Ministry of Justice of the Russian Federation on May 14, 2007. Reg. No. 9457.

Order of the Ministry of Justice of the Russian Federation No. 88 of May 4, 2007 on the Endorsement of the Explanations on the Application of the Rules of Preparation of Normative Legal Acts of the Federal Bodies of Executive Power and Their State Registration

To bring in compliance with the provisions of the actual legislation and in view of the changing of the structure of the federal bodies of executive power, prepares new explanations on the application of the rules of preparation of normative legal acts of the federal bodies of executive power and their state registration endorsed by the Decision of the Government of the Russian Federation No. 1009 of August 13, 1997 to replace the explanations earlier introduced in pursuance of the Order of the Ministry of Justice of Russia No. 217 of July 14, 1999.
      Registered in the Ministry of Justice of the Russian Federation on May 14, 2007. Reg. No. 9449.

Order of the Federal Tax Service of the Russian Federation No. MM-3-07/273@ of May 3, 2007 on the Endorsement of the Methodology Recommendations on the Organisation of Work of the Federal Tax Service of Russia Pertaining to the Licensing of Activities in the Sphere of Production and Circulation of Ethyl Alcohol, Alcohol-Containing and Alcoholic Products

In view of the introduction in compliance with the Federal Law No. 248-FZ of December 29, 2006 of a range of amendments to the Federal Law on the state regulation of production and circulation of ethyl alcohol, alcoholic and alcohol-containing products, introduces a new procedure of organisation of work of the Federal Tax Service of Russia pertaining to the licensing of activities in the sphere of production and circulation of ethyl alcohol, alcoholic and alcohol-containing products.

Order of the Federal Tax Service No. MM-3-25/261@ of April 25, 2007 on the Revocation of the Order of the Federal Tax Service of Russia No. SAE-3-25/2@ of January 11, 2007 on the Endorsement of the Regulation on the Joint Verification of the Estimates of Taxes, Fees, Penalties and Fines, the Form of the Act of the Joint Verification of Estimates of Taxes, Fees, Penalties and Fines and Their Drawing Procedure

Invalidates the Order of the Federal Tax Service of Russia No. SAE-3-25/2@ of January 11, 2007 having specified the sequence of actions of officials of the taxpayer section of inspections of the Federal Tax Service of Russia in the regions, urban regions, cities without the regional division and the inter-regional level, inter-regional inspections of the Federal Tax Service of Russia for major taxpayers in the course of the joint verification of estimates of taxes, fees, penalties and fines.

Federal Law No. 77-FZ of May 16, 2007 on the Amendment to Article 372 of Part 2 of the Tax Code of the Russian Federation

The amendments remove controversies in the text of the Tax Code of the Russian Federation pertaining to the authority to endorse the form of the tax declaration for the property tax from organisations.
      The Federal Law is entered into force one month after the day of its official publication, however, no sooner than the first of the subsequent tax period for the property tax from organisations.

Federal Law No. 76-FZ of May 16, 2007 on the Amendments to Articles 224, 275 and 284 of Part 2 of the Tax Code of the Russian Federation

The amendments create incentives for deployment of production holdings on the territory of the Russian Federation through exemption from taxation of dividends obtained by Russian organisations as a result of strategic investments in the capital of other organisations.
      The Federal Law is entered into force from January 1, 2008, however, no sooner than one month after the day of its official publication and no sooner than the first of the subsequent tax period for the incomes tax from natural persons and the profit tax from organisations.

Federal Law No. 75-FZ of May 16, 2007 on the Amendments to Chapter 22 of Part 2 of the Tax Code of the Russian Federation

According to the forecasted dynamics of growth of the average prices for consumer goods and inflation for the years 2008, 2009 and 2010, the specific rates of excise duty taxes for excisable commodities will be indexed in the following amounts: for the year 2008 - by 7% as compared to the year 2007; for the year 2009 - by 6.5% as compared to the year 2008; for the year 2010 - by 6% as compared to the year 2009. An exception is made for excise duty rates for oil products (the amounts being preserved for the years 2008-2010), tobacco items, beer and light alcoholic drinks.
      The Federal Law is entered into force one month after the day of its official publication and no sooner than the first of the subsequent tax period for excise duty taxes. The new tax rates for excisable commodities are entered into force from January 1, 2008.

Federal Law No. 71-FZ of May 10, 2007 on the Amendment to Article 13 of the Federal Law on the Combating of Extremist Activities

According to the amendments, the prosecutor is entitled to appeal to court to recognise the materials extremist not only at the place of location of the organisation having issued such materials, but also at the place where they are found and disseminated.

Federal Law No. 70-FZ of May 10, 2007 on the Amendments to Articles 214 and 244 of the Criminal Code of the Russian Federation and Article 20.3 of the Code of Administrative Violations of the Russian Federation

The adopted Federal Law enhances the criminal and administrative responsibility for such extremist violations as acts of vandalism, outrage over the burials, propaganda and public demonstration of nazi attributes or symbols.

Federal Law No. 79-FZ of May 17, 2007 on the Ratification of the Agreement between the Russian Federation and the Chinese People's Republic on the Status of Military Formations of the Russian Federation Temporarily Deployed on the Territory of the Chinese People's Republic and the Military Formations of the Chinese People's Republic Temporarily Deployed on the Territory of the Russian Federation for Joint Military Training

Ratifies the Agreement defining the status of servicemen of the Russian military formations during their stay on the territory of China and the servicemen of the Chinese military formations during their stay on the territory of Russia in the course of joint military exercises.

Federal Law No. 78-FZ of May 16, 2007 on the Ratification of the Seventh Additional Protocol to the Constitution of the Universal Postal Union Adopted by the 23d Congress of the Universal Postal Union

Ratifies the Seventh Additional Protocol to the Constitution of the Universal Postal Union adopted by the 23d Congress of the Universal Postal Union and signed in Bucharest on October 5, 2004.

Decision of the Government of the Russian Federation No. 294 of May 16, 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 July 1, 2007, increases the rates of the 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 specified by the Decision of the Government of the Russian Federation No. 695 of November 16 and being in effect from April 1, 2007.
      The rate of the export customs duty for raw oil will make USD 200.6 instead of USD 156.4.
      Export from the Russian Federation of light and medium distillates, gas oils, propane, butane, ethylene, propylene, butylene and butadiene, other liquefied gases, benzene, toluene, xylenes will be subject to the rate of USD 147.5 per ton (instead of USD 117.7).
      The rate of the export duty for liquid fuels, lubricants, spent oil products, petrolatum, mineral waxes and similar products (other than the raw ones), as well as the oil coke, bitumen and other residues of oil processing or oil products from bituminous materials (other than calcined oil coke) will make USD 79.4 per ton instead of USD 63.4.

Decision of the Government of the Russian Federation No. 292 of May 15, 2007 on the Endorsement of the Regulation on the Register of Unfair Suppliers and on the Requirements to the Technological, Software, Linguistic, Legal and Organisational Means of Keeping of the Register

According to the actual procedure of placing of orders for supplies of commodities, carrying out works, rendering services for the state and municipal needs, the federal body of executive power in charge of control in the sphere of placing of orders shall keep the Register of Unfair Suppliers. The Register shall include information on the participants having avoided to conclude the state or municipal contract, as well as suppliers (executors, contactors) where the state or municipal contracts are discontinued because of a major violation.

Decision of the Government of the Russian Federation No. 291 of May 15, 2007 on the Endorsement of the Rates of Export Customs Duties for Natural Calcium Phosphates and Individual Types of Mineral Fertilisers

The rate of the export customs duty for natural calcium phosphates, whether or not crashed (codes according to the Foreign Trade Commodity Nomenclature of Russia 2510 10 000 0 and 2510 20 000 0), when exported from the territory of the Russian Federation outside the member-states of the customs union agreements, is reduced from 6.5% of the customs cost to 0%.
      The Decision is entered into force one month after the day of its official publication.

Decision of the Government of the Russian Federation No. 290 of May 15, 2007 on the Amendments to the Decision of the Government of the Russian Federation No. 795 of December 23, 2006 Pertaining to Individual Types of Lumber

The amendments introduce the zero rates of export customs duties for individual types of lumber sawn or chipped lengthwise, sliced or peeled, whether or not planed, sanded or finger-jointed, with thickness exceeding 6 mm: coniferous - code 4407 10 according to the Foreign Trade Commodity Nomenclature (earlier, the rate amounted to 3% of the customs cost, however, not less than EUR 2.5 per cubic meter); as well as the ones exported earlier using the rate of 10%, however, not less than EUR 5 per cubic meter: other, of maple tree (Acer spp.) - code 4407 93 according to the Foreign Trade Commodity Nomenclature; other, of cherry tree (Prunus spp.) - code 4407 94 according to the Foreign Trade Commodity Nomenclature; other - code 4407 99 according to the Foreign Trade Commodity Nomenclature.
      The Decision is entered into force one month after the day of its official publication.

Order of the Government of the Russian Federation No. 609-r of May 15, 2007

According to the actual legislation, the placing of orders for supplies of commodities (carrying out works, rendering services) for the state or municipal needs that are fulfilled other than to particular orders of the client, authorised body, when there is a functioning market and that may be compared by their prices only, is arranged through an auction. The list of such commodities (works, services) is specified by the Government of the Russian Federation.

Federal Law No. 83-FZ of May 17, 2007 on the Amendments to Individual Legislative Acts of the Russian Federation Pursuant to the Adoption of the Federal Law on the Bank of Development

Pursuant to the creation of the Bank of Development, introduces amendments to the Tax Code, as well as the Federal Laws on the banks and banking activities, on the organisation of insurance activities in the Russian Federation, on non-commercial organisations, on the securities market and on the currency regulation and currency control.
      The Federal Law is entered into force 10 days after the day of its official publication except for individual provisions where special time limits are specified.

Federal Law No. 82-FZ of May 17, 2007 on the Bank of Development

The Federal Law defines the legal fundamentals of creation of the state corporation Bank of Development and Foreign Trade Activities (Vnesheconombank), specifies the legal status, principles of organisation, goals of creation and activities, procedure of reorganisation and liquidation of this bank.

Federal Law No. 81-FZ of May 17, 2007 on the Ratification of the Protocol to the Agreement between the Government of the Russian Federation and the Government of the Republic of Belarus on Avoidance of Double Taxation and Prevention of Avoidance of Payment of Taxes for the Income and Property Taxes

The ratified Protocol introduces equal conditions of taxation of incomes of natural persons from employment in Belarus and Russia respectively.

Federal Law No. 80-FZ of May 17, 2007 on the Amendment to Article 14 of the Federal Law on the Military and Technical Cooperation of the Russian Federation with Foreign States

Changes the wording of the provision of the Federal Law on the military and technical cooperation of the Russian Federation with foreign states having specified that international treaties of Russia in the sphere of military and technical cooperation must be ratified according to the procedure specified by the legislation of the country. According to the new wording, the Russian Federation agrees to observe international treaties in the sphere of military and technical cooperation in compliance with the norms of the international law and provisions of the Federal Law on the international treaties of the Russian Federation.

Decision of the Government of the Russian Federation No. 297 of May 19, 2007 on the Endorsement of the List of Agricultural Products Sold at the Agricultural Market and the Cooperative Agricultural Market

From January 15, 2007, the Federal Law has entered into force to regulate the relations pertaining to organisation of retail-trade marketplaces and activities of sale of commodities (carrying out works, rendering services) at retail-trade marketplaces. The retail-trade marketplaces are subdivided into the multipurpose and the specialised ones.

Order of the Federal Service for Financial Markets No. 07-34/pz-n of March 29, 2997 on the Amendments to the Regulation on the Information on the Concluded Transactions Endorsed by the Order of the Federal Service for Financial Markets No. 06-67/pz-n of June 22, 2006

According to the Federal Law on the securities market, the Federal Service for Financial Markets of Russia provides, among other things, for creation of a public-access system of disclosing of information at the securities market.
      Registered in the Ministry of Justice of the Russian Federation on May 17, 2007. Reg. No. 9501.

Direction of the Central Bank of Russia No. 1821-U of April 25, 2007 on the Procedure for the Subject of Credits Histories to Send Requests and Obtain Information from the Central Catalogue of Credits Histories through Divisions of Postal Communication

According to the Federal Law on credit histories, the Central Catalogue of Credit Histories is crested by the Bank of Russia for the subjects of credit histories and users of credit histories to collect, store and provide information on the credit history bureaus generating credit histories of subjects of credit histories and to store temporarily databases of liquidated (reorganised) credit history bureaus.
      The Direction is entered into force 10 days after the day of official publication in the Herald of the Bank of Russia.
      Registered in the Ministry of Justice of the Russian Federation on May 17, 2007. Reg. No. 9494.

Order of the Federal Tax Service No. MM-3-03/239@ of April 18, 2007 on the Endorsement of the Forms of Documents Used by the Tax Bodies While Implementing Their Authority in Relations Regulated by the Legislation on Taxes and Fees

Federal Law No. 137-FZ of July 27, 2006 amended the Tax Code to improve tax control and adjust tax checks.
      Registered in the Ministry of Justice of the Russian Federation on May 17, 2007. Reg. No. 9489.

Order of the Federal Service for Financial Markets No. 07-39/pz-n of April 5, 2007 on the Endorsement of the Regulation on the Procedure of Amending of the Register of Holders of Securities and Depositary Records When the Stocks Are Bought out by the Joint-Stock Company at the Demand of Stock-Holders

Endorses the Regulation defining the procedure of amending of the register of holders of securities and depositary records when the stocks are bought out by the joint-stock company at the demand of stock-holders. The Regulation applies also to issuers of securities keeping the register of personal securities independently.
      Registered in the Ministry of Justice of the Russian Federation on May 16, 2007. Reg. No. 9481.

Order of the Federal Service for Financial Markets No. 07-33/pz-n of March 29, 2007 on the Amendments to the Regulation on the Procedure of Rendering Services Permitting to Conclude Futures Contracts, As Well As on the Particulars of Clearing of Futures Contracts Endorsed by the Order of the Federal Service for Financial Markets No. 06-95/pz-n of August 24, 2006

The amendments pertain to the rules of carrying out of tenders and of clearing of futures contracts.
      Registered in the Ministry of Justice of the Russian Federation on May 17, 2007. Reg. No. 9502.

Direction of the Central Bank of Russia No. 1817-U of April 11, 2007 on the Amendments to the Direction of the Bank of Russia No. 1744-U of November 13, 2006 on the Procedure for the Bank of Russia to Hand out to Resident Credit Organisations Coins for Numismatic Purposes

Pursuant to the changing of the organisational structure of the Bank of Russia, in particular, reorganisation of the Department of Emissions and Cash Operations of the Bank of Russia into the Department of Circulation of Cash of the Bank of Russia, introduces appropriate amendments to the Direction of the Bank of Russia No. 1744-U of November 13, 2006 on the procedure for the Bank of Russia to hand out to resident credit organisations coins for numismatic purposes.
      Registered in the Ministry of Justice of the Russian Federation on May 17, 2007. Reg. No. 9500.

Direction of the Central Bank of Russia No. 1818-U of April 23, 2007 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

The procedure of reorganisation of credit organisations in the form of a merger and incorporation is being brought in compliance with the actual legislation on joint-stock companies and on limited-liability companies.
      The Direction is entered into force 10 days after the day of its official publication in the Herald of the Bank of Russia.
      Registered in the Ministry of Justice of the Russian Federation on May 17, 2007. Reg. No. 9488.

Order of the Federal Service for Financial Markets No. 07-32/pz-n of March 29, 2007 on the Invalidation of Item 9.1 of the Regulation on the Clearing Activities at the Securities Market of the Russian Federation Endorsed by the Decision of the Federal Commission for Securities Market No. 32/ps of August 14, 2002

Removes the prohibition to combine clearing of futures transactions and clearing of other transactions with securities for clearing centres.
      Registered in the Ministry of Justice of the Russian Federation on May 16, 2007. Reg. No. 9482.

Decision of the Government of the Russian Federation No. 280 of May 10, 2007 on the Targeted Federal Program "Prevention and Combating Socially Significant Diseases (2007-2011)"

Endorses the federal targeted program "Prevention and Combating Socially Significant Diseases (2007-2011)" including subprograms "Diabetes Mellitus", "Tuberculosis", "HIV Infection", "Oncology", "Sexually Transmitted Infections", "Viral Hepatitis", "Psychic Disorders", "Arterial Hypertension" and "Vaccine Prevention".

Letter of the Ministry of Finance of the Russian Federation No. 03-02-07/2-78 of April 25, 2007 on the Uniform (Simplified) Tax Declaration

According to the Tax Code of the Russian Federation, taxpayers must submit to the tax body at the place of registration tax declarations (estimates) for each tax due from these taxpayers. The person is recognised to be a taxpayer regardless of the presence or absence of the duty to pay the appropriate tax with him. The absence of the amount of tax to pay as a result of a particular tax period with the taxpayer does not exempt him from the duty to submit the tax declaration for this tax, if otherwise is not specified in the legislation on taxes and fees.

Decision of the Government of the Russian Federation No. 306 of May 21, 2007 on the Amendments to the Decision of the Government of the Russian Federation No. 187 of April 7, 2004 and No. 443 of August 27, 2004

The amendments to the Federal Law on the assessment activities in the Russian Federation introduce an obligatory membership for assessors in one of the self-regulating organisations of assessors that control activities of assessors. From July 1, 2007, the persons having failed to join the self-regulating organisations of assessors may not engage in assessment activities. Enforcement functions for the activities of self-regulating organisations are vested in the authorised federal body in the sphere of assessment activities.

Decision of the Government of the Russian Federation No. 304 of May 21, 2007 on the Classification of Emergency Situations of Natural and Technical Nature

According to the Federal Law on the protection of population and territories against emergency situations of natural and technical nature, the borders of the zones of emergency situations are defined by the managers of works of elimination of emergency situations on the basis of classification of emergency situations specified by the Government of the Russian Federation and upon coordination with executive bodies of state power and the bodies of local government where the emergency situations occur.

Decision of the Constitutional Court of the Russian Federation No. 6-P of May 16, 2007 on the Case of Constitutionality of Provisions of Articles 237, 413 and 418 of the Code of Criminal Procedures of the Russian Federation Pursuant to the Request of the Presidium of the Kurgan Province Court

Provisions of Item 2 of Parts 2 and 3 of Article 413 and Article 418 of the Code of Criminal Procedures of the Russian Federation interconnected with its Article 237 where they permit to refuse renewal of proceedings in a criminal case and revise decisions taken in it because of the new or newly revealed circumstances showing the presence in the actions of the accused of the signs of a heavier crime are recognised as not complying with the Constitution of the Russian Federation.
      The Decision is entered into force immediately after the annunciation.

Decision of the Government of the Russian Federation No. 316 of May 24, 2007 on the Endorsement of the Rules of Determination of the Terms of Work of Organisations of the Communal Complex Where Objective Changes Affect the Cost of Commodities and Services of These Organisations

Objective changes of conditions of work of organisations of the communal complex affecting the cost of commodities and services of these organisations include natural disasters, catastrophes, other emergency situations of natural and technical nature, military actions, terrorist acts, mass uproars or withdrawal of fixed assets from the organisation. In the case of such events and circumstances, the organisation of the communal complex may submit an application to the regulatory body for an early revision of tariff rates.

Order of the Ministry of Finance of the Russian Federation No. 29n of May 2, 2007 on the Endorsement of the Procedure of Calculation of the Cost of Net Assets of Organisers of Games of Chance

According to the Federal Law No. 244-FZ of December 29, 2006, the cost of net assets of organisers of games of chance during the whole period of activities of organisation of games of chance may not be lower than Rbl 600 million for organisers of games of chance in casinos and halls of gambling machines; Rbl 100 million for organisers of games of chance in bookmaker offices and sweepstakes.
      Registered in the Ministry of Justice of the Russian Federation on May 22, 2007. Reg. No. 9523.

Federal Law No. 84-FZ of May 17, 2007 on the Amendments to Articles 5 and 23 of the Federal Law on the Special Economic Zone in the Kaliningrad Province and on the Amendments to Some of the Legislative Acts of the Russian Federation, Article 89 of Part 1 of the Tax Code of the Russian Federation and Articles 288.1 and 385.1 of the Tax Code of the Russian Federation

According to the amendments, the resident must be excluded from the Joint Register of Residents of the Special Economic Zone in the Kaliningrad Province if the record stating that the legal entity is in the process of liquidation is entered in the Register, rather than in the case of liquidation of the legal entity.
      The Federal Law is entered into force one month after the day of its official publication except for the changes in the Tax Code. The mentioned amendments are entered into force one month after the day of official publication of the Federal Law and no sooner than the 1st of the subsequent tax period for the appropriate tax.

Decision of the Government of the Russian Federation No. 320 of May 26, 2007 on the Exemption from Customs Duties and Taxes of Vessels Temporarily Imported to the Customs Territory of the Russian Federation for Storage of Exported Oil Products

The vessels used as storage devices for the export of oil products (Heading 8901 of the Foreign Trade Commodity Nomenclature of Russia) and owned by foreign entities on condition of their use in Russian ports open for international transportation are temporarily imported to the customs territory of the Russian Federation while being fully exempted from customs duties and taxes for 1 year.
      The Decision applies to legal relations emerging from May 1, 2007.

Decision of the Government of the Russian Federation No. 318 of May 24, 2007 on the State Forestry Register

The State Forestry Register is a summary of documented information on the forests, their use, protection, reproduction, on forestry farms and parks.

Decision of the Government of the Russian Federation No. 313 of May 24, 2007 on the Amendments to the Regulation on the Ministry of Natural Resources of the Russian Federation

The sphere of reference of the Ministry of Natural Resources of Russia is being brought in compliance with the new Forestry Code.

Order of the Federal Service for Financial Markets No. 07-44/pz-n of April 12, 2007 on the Amendments to the Regulation on the Information to Be Disclosed by Issuers of Emission Securities Endorsed by the Order of the Federal Service for Financial Markets of Russia No. 06-117/pz-n of October 10, 2006

In view of the introduction of a new type of security – Russian depositary receipt – introduces appropriate amendments to the Regulation on the information to be disclosed by issuers of emission securities.
      Registered in the Ministry of Justice of the Russian Federation on May 23, 2007. Reg. No. 9540.

Order of the Ministry of Economic Development of the Russian Federation No. 147 of April 26, 2007 on the Administrative Regulation for the Federal Agency of Cadastre of Objects of Immovable Property to Render the State Service of Providing Information on the Objects of Capital Construction to Interested Parties

Specifies the sequence of actions for the Federal Agency of Cadastre of Objects of Immovable Property and its territorial bodies when they render the state service of providing information on the objects of capital construction to the interested parties (applicants).
      The Regulation is entered into force on the stepwise basis: beginning with July 1, 2007 and later with the periods of one year (from July 1, 2008, from July 1, 2009) on the territory of individual subjects of the Russian Federation and from July 1, 2010 – on the territory of the Russian Federation.
      Registered in the Ministry of Justice of the Russian Federation on May 23, 2007. Reg. No. 9530.

Order of the Federal Tax Service No. MM-3-10/187@ of April 2, 2007 on the Endorsement of the Form of the Decision on the Adjustment of Payment and Its Filling Procedure

If the taxpayer reveals an error in the order for the transfer of the tax that did not imply a failure to transfer the tax to the budget system of the Russian Federation to the appropriate account of the Federal Treasury, the taxpayer may appeal to adjust the grounds, type and affiliation of the tax, the tax period or the payer status.
      Registered in the Ministry of Justice of the Russian Federation on May 23, 2007. Reg. No. 9528.

Order of the Federal Service for Financial Markets No. 07-50/pz-n of April 24, 2007 on the Endorsement of the Normatives of Sufficiency of Own Resources of Professional Participants of the Securities Market, As Well As the Management Companies of Investment Funds, Shared Investment Funds and Non-State Pension Funds

One of the obligatory license requirements and prerequisites is compliance of own resources of professional participants with the normatives of sufficiency specified by the Federal Service for Financial Markets of Russia.
      The Order is entered into force from January 1, 2008.
      Registered in the Ministry of Justice of the Russian Federation on May 22, 2007. Reg. No. 9525.

Direction of the Central Bank of Russia No. 1828-U of May 14, 2007 on the Amendments to the Instruction of the Bank of Russia No. 109-I of January 14, 2004 on the Procedure for the Bank of Russia to Take the Decision on the State Registration of Credit Organisations and Issue of Licenses for Bank Operations

Cash dispensers and terminals intended for acceptance of cash from clients and its storage and owned by the founder of the credit organisation may be included in the registered capital of the credit organisation.
      The Direction is entered into force from the day of its official publication in the Herald of the Bank of Russia.
      Registered in the Ministry of Justice of the Russian Federation on May 22, 2007. Reg. No. 9521.

Order of the Ministry of the Industry and Power Supplies of the Russian Federation No. 138 of April 24, 2007 on the Organisation of Work in the Ministry of the Industry and Power Supplies of Russia to Confirm the Designated Use of Imported Equipment for the Paper-and-Pulp Industry

Endorses the procedure defining organisation of work and terms of issue of the confirmation of the designated use of programmable controllers with memory used in the equipment for production of pulp of fibrous cellulose materials or for making or finishing paper or paperboard (code according to the Foreign Trade Commodity Nomenclature 10 910 1) imported by organisations regardless of their organisational and legal form and agency affiliation. According to the Decision of the Government of the Russian Federation No. 718 of November 27, 2006, the mentioned commodities are imported using the zero rate of the customs duty on condition of confirmation of their use for designated purposes by the Ministry of the Industry and Power Supplies of Russia.
      Registered in the Ministry of Justice of the Russian Federation on May 22, 2007. Reg. No. 9518.

Direction of the Central Bank of Russia No. 1820-U of April 24, 2007 on the Amendment to the Direction of the Bank of Russia No. 1542-U of January 13, 2005 on the Particulars of Bank Checks Carried out by the Employees of the State Corporation “Deposit Insurance Agency”

Bank checks pertaining to the volume and structure of obligations of these banks to depositors, payment of insurance contributions, as well as execution of other obligations by the banks specified by the Federal Law on the insurance of the deposits of natural persons in the banks of the Russian Federation shall be carried out by the authorised representatives of the Central Bank of Russia with participation of the employees of the state corporation “Deposit Insurance Agency”.
      The Direction is entered into force 10 days after the day of its official publication in the Herald of the Bank of Russia.
      Registered in the Ministry of Justice of the Russian Federation on May 22, 2007. Reg. No. 9512.

Order of the Federal Service for Financial Markets No. 07-49/pz-n of April 23, 2007 on the Amendments to the Order of the Federal Service for Financial Markets No. 06-69/pz-n of June 22, 2006 on the Territorial Bodies of the Federal Service for Financial Markets

A new subject of the Russian Federation is formed as a result of the merger of the Irkutsk Province and the Ust-Ordynsk Buryat Autonomous District from January 1, 2008 – the Irkutsk Province. Appropriate changes are introduced in the Order of the Federal Service for Financial Markets of Russia No. 06-69/pz-n of June 22, 2006 where they pertain to the description of the territory covered by the Regional Division of the Federal Service for Financial Markets in the East-Siberian Region.
      The Order is entered into force from January 1, 2008.
      Registered in the Ministry of Justice of the Russian Federation on May 22, 2007. Reg. No. 9511.

Order of the Federal Service for Financial Monitoring No. 88 of April 13, 2007 on the Endorsement of the Regulation on the Federal Service for Financial Monitoring

The endorsed Regulation on the Federal Service for Financial Monitoring specifies general rules of internal organisation of the service and the procedure of its interaction with the Ministry of Finance of Russia.
      Registered in the Ministry of Justice of the Russian Federation on May 22, 2007. Reg. No. 9509.

Federal Law No. 85-FZ of May 17, 2007 on the Amendments to Chapters 21, 26.1, 26.2 and 26.3 of Part 2 of the Tax Code of the Russian Federation

The amendments to the Tax Code of the Russian Federation eliminate drawbacks in the application of the simplified system of taxation, system of taxation in the form of the uniform imputed income tax for individual types of activities and the value added tax.
      The Federal Law is entered into force from January 1, 2008, however, no sooner than one month after the day of its official publication except for some norms on the value added tax and the simplified system of taxation covering legal relations emerging from January 1, 2007.

Decision of the Government of the Russian Federation No. 321 of May 26, 2007 on the Amendments to the Customs Tariff of the Russian Federation

From July 1, 2007, introduces on the permanent basis the zero rates of the import customs duties that were in effect until June 30, 2007 for more than 600 names of technological equipment, mechanical devices, instruments.
      July 1, 2007 will also be used to apply on the permanent basis the rates of the import customs duties presently in use for individual types of cheeses, shoes and parts thereof, ores, cinder, ferrous metals, items of germanium, ground vehicles.

Order of the Federal Antimonopoly Service No. 5 of January 17, 2007 on the Endorsement of the Administrative Regulation of the Federal Antimonopoly Service for the Execution of the State Function of Identification of the Dominating Position of the Economic Subject in Cases of Violation of the Antimonopoly Legislation and in the Course of State Control of Economic Concentration

Endorses the Administrative Regulation defining the time limits and the sequence of actions (administrative procedures) for the Federal Antimonopoly Service of Russia and its territorial bodies in the course of implementation of the state function to identify the dominating position of the economic subject.
      Registered in the Ministry of Justice of the Russian Federation on May 23, 2007. Reg. No. 9541.

Letter of the Ministry of Finance of the Russian Federation No. 03-11-02/151 of May 29, 2007

When calculating the uniform imputed income tax, one should use from January 1, 2007 the K1 coefficient specified in the Order of the Ministry of Economic Development of Russia No. 359 of November 3, 2006 (in the amount of 1.096). The amounts of the uniform imputed income tax calculated for the I quarter of 2007 using the deflator coefficient K1 in the amount of 1.241 must be recalculated.

Decision of the Government of the Russian Federation No. 310 of May 22, 2007 on the Rates of Payment for the Unit of Volume of Forest Resources and the Rates of Payment for the Unit of Area of the Federally Owned Forest Part

Endorses the rates of payment for the unit of volume of forest resources and the rates of payment for the unit of area of the federally owned forest part.

Order of the Ministry of Foreign Affairs of the Russian Federation and the Ministry of Finance of the Russian Federation No. 6498/40n of May 8, 2007 on the Endorsement of the List of Foreign States Whose Citizens and/or Organisations Accredited in the Russian Federation Are Exempted from the Value Added Tax When They Lease Rooms on the Territory of the Russian Federation

According to the Tax Code, VAT exemption applies to the leasing of rooms on the territory of the Russian Federation by foreign citizens and organisations accredited in the Russian Federation, the list of foreign states being defined by the federal body of executive power in the sphere of international relations together with the Ministry of Finance.
      Registered in the Ministry of Justice of the Russian Federation on May 28, 2007. Reg. No. 9567.

Direction of the Central Bank of Russia No. 1823-U of May 2, 2007 on the Amendments to the Regulation of the Bank of Russia No. 2-P of October 3, 2002 on Cashless Payments in the Russian Federation

Regulation of the Bank of Russia No. 2-P of October 3, 2002 on cashless payments in the Russian Federation is amended where it pertains to the procedure of submission of payment orders in the electronic form.
      The Direction must be published officially in the Herald of the Bank of Russia and is entered into force from July 1, 2007.
      Registered in the Ministry of Justice of the Russian Federation on May 25, 2007. Reg. No. 9547.

Direction of the Central Bank of Russia No. 1824-U of May 2, 2007 on the Amendments to the Regulation of the Bank of Russia No. 225-P of May 6, 2003 on the Guide of Bank Identification Codes of Participants of Payments Making Payments through the Payment Network of the Central Bank of the Russian Federation (Bank of Russia)

Amends the description of the requisites of participants of payments making payments through the payment network of the Bank of Russia, as well as their filling procedure.
      Registered in the Ministry of Justice of the Russian Federation on May 22, 2007. Reg. No. 9507.

Order of the Federal Tax Service No. MM-3-06/308@ of May 16, 2007 on the Amendments to the Order of the Ministry of Taxation of Russia No. SAE-3-30/290@ of April 16, 2004

Revises the criteria of qualifying of legal entity organisations as major taxpayers subject to tax administration at the federal and regional level.