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 14.12.2007

Direction of the Central Bank of Russia No. 1906-U of November 14, 2007 on the Amendment to Subitem 1.8.2 of Item 1.8 of the Instruction of the Bank of Russia No. 124-I of July 15, 2005 on the Amounts (Limits) of the Open Foreign Exchange Positions, Method of Their Estimation and Particulars of Enforcement of Their Observation by Credit Organisations

When an options contact is concluded where the basic asset is securities in foreign currencies, their current market cost is determined according to the procedure envisaged for the determination of the current (fair) cost of securities as described in the accounting procedure for investments in securities and operations with securities.

Letter of the Federal Tax Service No. SK-6-09/902@ of November 20, 2007 on the Procedure of Signing of the Application for the Registration of the Russian Organisation in the Tax Body at the Place of Location of Its Separate Division on the Territory of the Russian Federation

The application for the registration of the Russian organisation in the tax body at the place of location of its separate division on the territory of the Russian Federation is signed by the official entitled to act on behalf of this organisation without a proxy.

Letter of the Federal Tax Service No. SK-6-09/887@ of November 15, 2007 on the Information Interaction with the Banks for the Cases of Exchange of Information of the Opening or Closing of the Account, of the Change of Account Details on Paper

From November 17, 2007, information interaction in the cases of exchange of information of the opening or closing of the account, of the change of account details on paper is recommended to the tax bodies only with the banks and bank branches that have a bank identification code (BIK) of the participant of payments on the territory of the Russian Federation.

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