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 12.11.2007

Ruling of the Constitutional Court of the Russian Federation No. 681-O-P of July 3, 2007 in Pursuance of the Appeals of Citizens Y.Y.Kolodkin and Y.N.Shadeyev against Violation of Their Constitutional Rights by Provisions of Article 84.8 of the Federal Law on Joint-Stock Companies Interconnected with Part 5 of Article 7 of the Federal Law on the Amendments to the Federal Law on Joint-Stock Companies and Some Other Legislative Acts of the Russian Federation

The Constitutional Court of the Russian Federation did not find any reasons to recognise as unconstitutional individual provisions of the Federal Law on joint-stock companies (interconnected with the Federal Law No. 7-FZ of January 5, 2006) permitting the holder of more than 95% of stocks of the company to buy out the stocks belonging to other holders without their consent.

Federal Law No. 261-FZ of November 8, 2007 on the Sea Ports of the Russian Federation and on the Amendments to Individual Legislative Acts of the Russian Federation

The Federal Law is expected to regulate economic, organisational and legal relations emerging in the course of activities of sea ports, as well as specifies the procedure of construction, opening and closing of sea ports, defines the basics of the state regulation of activities in sea ports.
      The Federal Law is entered into force ten days after the day of its official publication, except for individual provisions where another procedure for the entry into force is specified.

Federal Law No. 259-FZ of November 8, 2007 "The Charter of the Highway Transport and the Urban Ground Electric Transport"

Defines general terms of transportation of passengers and luggage, cargo by motor vehicles, trams, trolley-buses, cars, trucks, as well as the general terms of providing services to passengers, charters, consignors, consignees, carriers, freighters at objects of transportation infrastructures.
      The Federal Law is entered into force 180 days after the day of its official publication.

Federal Law No. 258-FZ of November 8, 2007 on the Amendments to Individual Legislative Acts of the Russian Federation and on Invalidation of Individual Provisions of the Legislative Acts of the Russian Federation on the Licensing of Individual Types of Activities

Amends legislative acts of the Russian Federation containing provisions on the licensing of individual types of activities. The amendments refine the names of a number of types of activities subject to licensing.
      The Federal Law is entered into force 10 days after the day of its official publication except for individual provisions where another time limits is specified for the entry into force.

Federal Law No. 257-FZ of November 8, 2007 on the Highways and Highway Activities in the Russian Federation and on the Amendments to Individual Legislative Acts of the Russian Federation

Introduces uniform legal fundamentals of activities in the sphere of designing, construction, reconstruction, repair, maintenance and use of federal highways, highways of the subjects of the Russian Federation, municipal and private highways, as well as of their management.
      The Federal Law is entered into force from the day of its official publication except for individual provisions where another procedure of entry into force is specified.

Federal Law No. 256-FZ of November 8, 2007 on the Amendment to Article 4 of the Law of the Russian Federation on the Organisation of Insurance Activities in the Russian Federation

The rule stating that insurance of interests of resident legal entities and natural persons on the territory of the Russian Federation is permitted for only Russian insurers possessing licenses obtained in compliance with the Law of the Russian Federation on the organisation of insurance activities in the Russian Federation does not apply to the cases of reinsurance and other cases envisaged in the Federal Laws.

Decision of the Government of the Russian Federation No. 763 of November 7, 2007 on the Endorsement of the Rates of Export Customs Duties for Individual Chemical Commodities

To extend the export of commodities of domestic chemical industry, reduces from January 1, 2008 to the zero the rates of export customs duties for the following chemical commodities exported outside the member-states of the Customs Union agreements: butan-1-ol (n-butyl alcohol) (code according to the Foreign Trade Commodity Nomenclature of Russia 2905 13 000 0); polymers of propylene or other olefins in the primary form (code according to the Foreign Trade Commodity Nomenclature of Russia 3902); polytetrafluoroethylene for making pharmacy items (in code 3904 61 000 0 of the Foreign Trade Commodity Nomenclature of Russia).

Decision of the Government of the Russian Federation No. 761 of November 6, 2007 on the Amendments to the Decision of the Government of the Russian Federation No. 1116 of September 19, 1996

Envisages arranging of halls for officials and delegations in the points of transfer through the state border of the Russian Federation in the airports of St.Petersburg and Sochi.

Decision of the Government of the Russian Federation No. 756 of November 6, 2007 on the Endorsement of the Rates of Import Customs Duties for Individual Types of Nuts and Seeds

Endorses on the permanent basis the zero rates of the import customs duties for the following types of nuts and seeds: shelled cashew; almonds, whether or not peeled; shelled hazelnuts; sesame seeds.
      The Decision is entered into force one month after the day of its official publication.

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