Monitoring of the Federal Legislation dated 20.09.2007

Decision of the Higher Arbitration Court of the Russian Federation No, 45 of July 26, 2007 on Some Issues of Application by Arbitration Courts of Provisions of Chapter 25.1 of the Tax Code of the Russian Federation Pertaining to Fees for the Use of Objects of Aquatic Biological Resources

Examines the cases of introduction of amendments in the appropriate permission for the catching of aquatic biological resources. Since such amendments form an integral part of the initially issued permission, they may not imply the duty of the payer to pay anew the fee for the same volume of bioresources permitted for catching. The mentioned fee, however, must be distinguished from the state duty for the issued permission, which is collected in pursuance of Subitem 74 of Item 1 of Article 333 of the Tax Code of the Russian Federation.

Direction of the Central Bank of Russia No. 1881-U of August 31, 2007 on the Amendments to the Direction of the Bank of Russia No. 1376-U of January 16, 2004 on the List, Forms and Procedure of Drawing up and Submission of the Forms of Reports of Credit Organisations to the Central Bank of the Russian Federation

The amendments are stipulated by the entry into force from January 1, 2008 of the new rules of accounting work in credit organisations located on the territory of the Russian Federation. According to the new rules, incomes and expenses of credit organisations must be registered proceeding from the fact of committing rather than the fact of receipt or transfer of monetary resources (their equivalents).
      The Direction is entered into force from October 1, 2007.
      Registered in the Ministry of Justice of the Russian Federation on September 17, 2007. Reg. No. 10155.

Direction of the Central Bank of Russia No. 1883-U of August 31, 2007 on the Amendments to the Direction of the Bank of Russia No. 1482-U of July 28, 2004 on the List of Securities Forming the Lombard List of the Bank of Russia

Of all bonds of credit organisations, only those are included in the Lombard List with the mortgage coverage, where execution of obligations is covered by the state guarantees of the subjects of the Russian Federation.
      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 September 17, 2007. Reg. No. 10147.