Monitoring of the Federal Legislation dated 16.05.2007

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.