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 9.07.2007

Federal Law No. 126-FZ of July 5, 2007 on the Ratification of the Protocol on the Amendments to the Charter of the Shanghai Organisation of Cooperation Signed in St.Petersburg (Russian Federation) on June 7, 2002

Ratifies the Protocol introducing amendments to Article 11 of the Charter of the Shanghai Organisation of Cooperation pertaining to the legal status and authority of the Secretariat of the Shanghai Organisation of Cooperation and the name of the position of the head of this body.

Federal Law No. 125-FZ of July 5, 2007 on the Ratification of the Agreement between the Government of the Russian Federation and the Cabinet of Ministers of the Ukraine on the Liquidation and Procedure of Return of the Aircraft at the Repair Enterprises of the Ministry of Defence of the Russian Federation and the Ministry of Defence of the Ukraine

The ratified Agreement singed in Kiev on July 1, 2003 envisages liquidation of the Russian aircraft at the repair enterprises of the Ukraine, as well as utilisation of other written off aircraft available at the Ukrainian repair enterprises.

Federal Law No. 123-FZ of July 5, 2007 on the Ratification of the Protocol between the Government of the Russian Federation and the Government of the Kyrgyz Republic on the Prolongation of the Agreement between the Government of the Russian Federation and the Government of the Kyrgyz Republic on the Regulation of the Process of Resettlement and Protection of Rights of the Resettled Population of July 18, 1995

Ratifies the Protocol prolonging for the next 7 years the Agreement between the Government of the Russian Federation and the Government of the Kyrgyz Republic on the Regulation of the process of resettlement and protection of rights of the resettled population of July 18, 1995.

Decision of the Government of the Russian Federation No. 430 of July 5, 2007 on the Amendment to the Decision of the Government of the Russian Federation No. 41 of January 23, on the List of the Types of Periodicals and Books in the Sphere of Education, Science and Culture Subject to the Value Added Tax at the Rate of 10% at Sale

According to the Tax Code of the Russian Federation, the sale of periodicals (except for those of advertising and erotic nature), as well as books in the sphere of education, science and culture (except for the books of advertising and erotic nature) is subject to the value added tax at the beneficial rate of 10%.

Order of the Ministry of Natural Resources of the Russian Federation No. 148 of June 8, 2007 on the Endorsement of the Procedure of Calculation of the Felling Estimate

The felling estimate defines the permissible annual volume of withdrawal of wood in exploited and protective forests providing for the multipurpose, rational, continuous, inexhaustible use of forests proceeding from the specified felling ages, preservation of the biological varieties, water conservation, protective and other useful properties of forests. The calculation of the felling estimate is necessary when working out and endorsing forest use regulations for forestries and forest parks.
      Registered in the Ministry of Justice of the Russian Federation on July 2, 2007. Reg. No. 9750.

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