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 13.07.2007

Decision of the Government of the Russian Federation No. 441 of July 10, 2007 on the Endorsement of the Rules of Committing of Operations with Monetary Resources While Organising and Carrying out Games of Chance

Regulates the procedure of committing of operations with monetary resources by the organiser of the games of chance in a gambling institution.

Direction of the Central Bank of Russia No. 1852-U of July 5, 2007 on the Invalidation of Individual Normative Acts of the Bank of Russia

In pursuance of the changing of the budget classification of the Russian Federation, invalidates the Direction of the Bank of Russia No. 674-U of November 9, 1999 (with amendments) having specified the list of symbols of the bank reports corresponding to the divisions of the budget classification of the Russian Federation used to number the personal accounts opened on the balance accounts of incomes and resources of the federal budget in institutions of the Bank of Russia and credit organisations, as well as to draw up the reports of cash execution of the federal budget.
      The Direction is entered into force 10 days after the day of its official publication in the Herald of the Bank of Russia.

Direction of the Central Bank of Russia No. 1844-U of June 20, 2007 on the Invalidation of Individual Normative Acts of the Bank of Russia

Pursuant to the issue of the new Direction of the Central Bank of Russia on cash payments, invalidates the Direction of the Central Bank of Russia having specified earlier the limiting amount of payments in cash between legal entities and independent entrepreneurs, between independent entrepreneurs (Rbl 60,000 under one transaction).
      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 Central Bank of Russia No. 98-T of July 5, 2007 on the Confirmation by the Tax Bodies of the Fulfilment of Obligations to the Budgets of All Levels

The joint Order of the Central Bank of Russia and the Federal Tax Service of Russia invalidate the Letter of the Central Bank of Russia and the State Tax Service of Russia defining the procedure of submission of confirmation of fulfilment of obligations to the budget and extra-budgetary funds by the buyer of stocks (shares) of credit organisation.
      The certificate is issued by the tax bodies from April 1, 2005.

Letter of the Central Bank of Russia No. 96-T of July 3, 2007 on the Rouble Equivalents of the Figures of the Direction of the Bank of Russia No. 1755-U of December 11, 2006

According to the Federal Law on the banks and banking activities, the minimum amount of the registered capital of the newly registered bank and non-bank credit organisations is fixed in the amount of the rouble equivalent of EUR 5 million and EUR 500,000 respectively. Besides, from January 1, 2007, a requirement is also introduced to the minimum amount of own resources (capital) of operating banks and non-bank credit organisations requesting the status of a bank in the amount of the rouble equivalent of EUR 5 million.

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