Monitoring of the Federal Legislation dated 18.05.2007

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.