Monitoring of the Federal Legislation dated 3.05.2007

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.