Windfall tax for major companies to be introduced in Russia

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Monitoring of the Federal Legislation dated 31.01.2008

Decision of the Government of the Russian Federation No. 983 0f December 29, 2007 on the Endorsement of the Quota for 2008 of Invitations to Foreign Citizens to Enter the Russian Federation for the Purpose of Employment

The quota of invitations to foreign citizens in 2008 is fixed in the amount of 672,304.

Decision of the Government of the Russian Federation No. 982 of December 29, 2007 on the Endorsement of the Quota of Employment Permissions for 2008

The quota for 2008 makes 1,828,245 employment permissions.

Decision of the Government of the Russian Federation No. 989 of December 29, 2007 on the Budget Investments in 2008 into Objects of Capital Construction in the State Property of the Russian Federation and Objects of Capital Construction Owned by Legal Entities Not Being State or Municipal Institutions and State or Municipal Unitary Enterprises

Endorses the lists of construction projects and objects for the federal state needs for 2008 and the years of 2009-2010.

Decision of the Government of the Russian Federation No. 985 of December 29, 2007 on the Endorsement of the Rates of Import Customs Duties for Polycarbonates

Introduces for 9 months the zero rate of the import customs duty for polycarbonates for making optical data storage media.

Letter of the Department of the Tax and Customs Tariff Policy of the Ministry of Finance of the Russian Federation No. 03-02-07/1-477 of December 11, 2007

Provides explanations on the procedure of submission to the tax bodies of tax declarations, on the payment of taxes in cases of reorganisation in the form of incorporation, on the setting off of the overpaid amounts of taxes and on the legality of penalties accrued with the reorganised organisation in the case of payment of taxes at the place of registration of the reorganised organisation.

Decision of the Government of the Russian Federation No. 955 of December 29, 2007 on the Procedure of Management of Resources of the Reserve Fund

Two methods are envisaged to manage the fund's resources: purchase of foreign currencies and their placing on the accounts in the Central Bank of the Russian Federation; placing of resources in liabilities of foreign states, foreign state agencies and central banks, international financial organisations, including those drawn up as securities, as well as in deposits in foreign banks and credit organisations.

Letter of the Ministry of Finance of the Russian Federation No. 03-07-11/648 of December 29, 2007

From January 1, 2008, the value added tax does not apply to the sale of exclusive rights for inventions, useful models, industrial prototypes, computer software, databases, layouts of integrated circuits, production secrets (know-how), as well as the sale of rights for the use of the mentioned results of intellectual activities on the basis of the license contract.

Decision of the Government of the Russian Federation No. 988 of December 29, 2007 on the Endorsement of the Rules of Collection, Distribution and Paying out of Rewards to Performers and Makers of Phonograms for the Use of Phonograms Published for Commercial Purposes

Collection of rewards is carried out by organisations in charge of the management of the rights of performers and makers of phonograms on the collective basis that have state accreditation.

Decision of the Government of the Russian Federation No. 984 of December 29, 2007 on the Determination of the Need to Attract Foreign Workforce to the Russian Federation in 2008

Endorses distribution of the need to attract foreign workforce to the Russian Federation in 2008 by priority professional and qualification groups (1,828,245 persons).

Decision of the Government of the Russian Federation No. 980 of December 29, 2007 on the State Regulation of Tariff Rates for the Services of Subjects of Natural Monopolies for Transportation of Oil and Oil Products

The state regulation includes the fixing of tariff rates or their limiting levels, as well as the measures of state control of the fixing (change, revocation) and application of tariff rates.

Decision of the Government of the Russian Federation No. 951 of December 29, 2007 on the Amendments to Individual Decisions of the Government of the Russian Federation on the Particulars of Functioning of the Wholesale Market of Electric Power in the Transient Period on the Territories That Are Not Covered by the Pricing Zones

The amendments are stipulated by the particulars of the functioning of the wholesale market of electric power in the transient period on the territories that are not included in the pricing zones.

Decision of the Plenum of the Higher Arbitration Court of the Russian Federation No. 65 of December 18, 2007 on Some Procedural Issues Emerging with Arbitration Courts Processing Taxpayer Applications on the Protection of the Right to Reimburse the Value Added Tax for Operations Subject to the 0 Percent Tax Rate

Explains individual issues pertaining to protection of the right to reimburse the value added tax in operations subject to the 0 percent tax rate.

Order of the Ministry of Justice of the Russian Federation No. 256 of December 27, 2007 on the Endorsement of the Instruction on the Procedure for the Heads of Local Administrations of Residential Settlements and Specially Authorised Officials of the Local Government of Residential Settlements to Commit Notary Actions

Permits the heads to local administrations and specially authorised officials of the local government to commit notary actions in the absence of the notary in the residential settlement.

Decision of the Government of the Russian Federation No. 959 of December 29, 2007 on the Amendments to the Customs Tariff of the Russian Federation for Some Commodities Imported for Industrial Assembly of Motor Vehicles and Their Units

The amendments introduce for 9 months new rates of import customs duties for some commodities imported for industrial assembly of motor vehicles and their units.

Order of the Ministry of Justice of the Russian Federation No. 254 of December 27, 2007 on the Endorsement of the Administrative Regulation on the Execution by the Federal Agency of Cadastre of Objects of Immovable Property of the State Function of State Land Control

The state land control is carried out in the form of checks of execution by legal entities, independent entrepreneurs and natural persons of obligatory requirements of the land legislation.

Decision of the Government of the Russian Federation No. 992 of December 29, 2007 on the Endorsement of the Regulation on the State Accreditation of Organisations Providing Collective Management of the Copyright and Adjacent Rights

Defines the terms and procedure of the state accreditation of organisations providing collective management of the copyright and adjacent rights.

Decision of the Government of the Russian Federation No. 964 of December 29, 2007 on the Endorsement of the List of Potent and Poisonous Substances for the Purposes of Article 234 and Other Articles of the Criminal Code of the Russian Federation, As Well As the Large Amount of Potent Substances for the Purposes of Article 234 of the Criminal Code of the Russian Federation

The Government of the Russian Federation endorses the above lists.

Decision of the Government of the Russian Federation No. 957 of December 29, 2007 on the Endorsement of the Regulation on the Licensing of Individual Types of Activities Pertaining to Encryption (Cryptographic) Means

Endorses new Regulations on the licensing of individual types of activities pertaining to encryption (cryptographic) means.

Order of the Federal Customs Service No. 1485 of November 30, 2007 on the Endorsement of the Form of the Passenger Customs Declaration and Its Filling Procedure

Endorses a new form of the passenger customs declaration.

Decision of the Government of the Russian Federation No. 5 of January 14, 2008 on the Endorsement of the Rates of Export Customs Duties for Raw Oil and Individual Categories of Commodities of Oil Exported from the Territory of the Russian Federation Outside the Member-States of the Customs Union Agreements

Introduces increased rates of export customs duties for raw oil and individual categories of commodities of oil exported from the territory of the Russian Federation outside the member-states of the Customs Union agreements.

Decision of the Government of the Russian Federation No. 2 of January 11, 2008 on the Amendments to the Decision of the Government of the Russian Federation No. 673 of November 5, 2003

Specifies the procedure of publication of draft normative legal acts of the Russian Federation and draft normative documents on the mentioned amendments.

Decision of the Government of the Russian Federation No. 996 of December 29, 2007 on the Amendments to Individual Decisions of the Government of the Russian Federation on the Issues of Organisation of Activities of Guaranteed Suppliers of Electric Power

Introduces amendments to the rules of functioning of retail markets of electric power in the transient period of reformation of the electric power industry.

Letter of the Central Bank of Russia No. 228-T of December 29, 2007 on the Issue of Consumer Crediting

The amendments to the Law of the Russian Federation on the protection of consumer rights specified that in cases of consumer credits, the citizens must be informed of the amount of credit and the full amount due for payment, as well as the schedule of redemption of this amount.

Order of the Ministry of Regional Development of the Russian Federation No. 116 of December 18, 2007 on the Normative of Cost of 1 Square Meter of the Total Dwelling Space for the First Six Months of 2008 and the Average Market Cost of 1 Square Meter of Total Dwelling Space by the Subjects of the Russian Federation for the I quarter of 2008

Endorses the normative of the cost of 1 square meter of total dwelling space for the Russian Federation for the first six months of 2008 in the amount of Rbl 23,400.

Direction of the Central Bank of Russia No. 1950-U of December 10, 2007 on the Forms of Records for the Currency Operations Carried out by Residents Except for the Credit Organisations and Currency Exchanges

For the purposes of currency regulation and currency control, defines the documents serving as forms to record currency operations carried out by residents, except for credit organisations and currency exchanges.

Letter of the Central Bank of Russia No. 225-T of December 29, 2007 on the Rouble Equivalents of the Figures Provided in the Direction of the Bank of Russia No. 1755-U of December 11, 2006

In the I quarter of 2008, the rouble equivalent of the minimum amount of the registered capital of the newly registered bank makes Rbl 179,705,000, the rouble equivalent of the minimum amount of the registered capital of the newly registered non-bank credit organisation - Rbl 17,970,500, rouble equivalent of the minimum amount of own resources (capital) of a bank, as well as a non-bank credit organisation requesting the status of a bank - Rbl 179,705,000.

Decision of the Government of the Russian Federation No. 8 of January 15, 2008 on the Amendments to Item 5 of the Rules of Qualifying of Information Comprising the State Secret As Various Classification Degrees

Adjusts the rules to include information comprising the state secret in various classification degrees.

Decision of the Government of the Russian Federation No. 7 of January 14, 2008 on the Endorsement of the Regulation on the Keeping of the Register of Sole Suppliers of Russian Armaments and Military Equipment

The Register is a federal information system containing information on material medium on the sole suppliers of Russian armaments and military equipment - organisations being the only producers of such armaments and military equipment that do not have Russian-made analogues; on the Russian armaments and military equipment and separately supplied units and component parts forming the systems, complexes of such armaments and military equipment that do not have Russian-made analogues and produced by sole suppliers.

Decision of the Government of the Russian Federation No. 1003 of December 29, 2007 on the Permitted Share of Foreign Workers in 2008 Used by Economic Subjects Engaged in Activities in the Sphere of Retail Trade and Sports on the Territory of the Russian Federation

Specifies the permitted share of foreign workers for 2008 for use by economic subjects engaged in individual types of activities on the territory of the Russian Federation in the sphere of retail trade envisaged in the All-Russia Classifier of the Types of Economic Activities.

Letter of the Federal Tax Service of the Russian Federation No. SK-6 11/25@ of January 17, 2008 on the Information Necessary for the Calculation of the Tax on Extraction of Mineral Resources for Oil for December 2007

Provides information used to calculate the tax on extraction of mineral resources for oil for December 2007.

Order of the Federal Customs Service No. 1079 of September 5, 2007 on the Endorsement of the Rules of Submission of Confirmation of the Registration of Information on the Alcoholic Products in the Joint State Automatic Information System of Registration of the Volume of Production and Circulation of Ethyl Alcohol, Alcoholic and Alcohol-Containing Products and the Notification of the Refusal to Register the Mentioned Information

When an importer submits application for the registration in the Joint State Automatic Information System of information on the alcoholic products labelled with excise duty stamps, the customs body shall send a confirmation of the registration of the submitted information no later than within 3 days from the date of acceptance.

Decision of the Government of the Russian Federation No. 17 of January 19, 2008 on the Exemption from Customs Duties and Taxes of Surface and Underwater Drilling or Operational Platforms Temporarily Imported to the Customs Territory of the Russian Federation

Provides a full conditional exemption from customs duties and taxes for surface and underwater drilling and operational platforms temporarily imported by Russian entities for geological surveys.

Decision of the Government of the Russian Federation No. 14 of January 19, 2008 on the Amendments to the Customs Tariff of the Russian Federation

The Customs Tariff of the Russian Federation envisages limiting volumes of import of individual categories of meat and edible meat offal permitting importers to apply reduced rates of import customs duties.

Decision of the Government of the Russian Federation No. 13 of January 19, 2008 on the Interim Rates of Import Customs Duties for Individual Types of Meat of Bovine Animals and on the Amendments to the Decision of the Government of the Russian Federation No. 732 of December 5, 2005

Reduces until December 31, 2008 the rates of import customs duties for individual types of meat of bovine animals to EUR 30 per ton, however, not less than EUR 0.3 per kg.

Letter of the Federal Agency for Construction and the Housing and Communal Complex No. VB-82/02 of January 16, 2008 on the Indices of Change of the Estimated Cost for the I Quarter of 2008

Provides recommended indices of change of the estimated cost of construction and installation works on the whole and by items of expenses for the I quarter of 2008 to the level of basic prices for 1991 and 2001 by subjects of the Russian Federation.

Direction of the Central Bank of Russia No. 1965-U of January 22, 2008 on the Amendments to the Regulation of the Bank of Russia No. 222-P of April 1, 2003 on the Procedure for Natural Persons of the Russian Federation to Make Cashless Payments

Refines the procedure for the natural person to fill in the payment document to transfer monetary resources from the current account on the bank account of a legal entity or the current account of the natural person, as well as other accounts, including the accounts of the payer himself.

Direction of the Central Bank of Russia No. 1964-U of January 22, 2008 on the Amendments to the Regulation of the Bank of Russia No. 2-P of October 3, 2002 on Cashless Payments in the Russian Federation

Introduces appropriate amendments to the Regulation on cashless payments in the Russian Federation and description of the fields of some documents used in cashless payments.

Order of the Federal Customs Service No. 1497 of December 6, 2007 on the Endorsement of Obligatory Requirements to the Outfit, Equipment and Place of Location of Temporary Storage Warehouses

The requirements to the outfit, equipment and place of location of the temporary storage warehouses do not depend on whether the temporary storage warehouse is located in a building or on the open site.

Letter of the Federal Agency for Construction and the Housing and Communal Complex No. VB-5/02 of January 9, 2008 on the Prices for Design and Survey Works in Construction for the I Quarter of 2008

Provides induces of change of the cost of design and survey works in construction recommended for application in the I quarter of 2008.

Order of the Federal Tax Service No. MM-3-04/689@ of December 20, 2007 on the Amendments to the Order of the Federal Tax Service of Russia No. SAE-3-04/706@ of October 13, 2006

The amendments to the procedure of filling of form 2-NDFL Certificate of Incomes of the Natural Person for the Year 200_ are stipulated by the refining of the list of incomes exempted from the incomes tax from natural persons and tax exemptions.

Order of the Ministry of Finance of the Russian Federation No. 114n of December 20, 2007 on the Amendments to the Accounting Regulation PBU 8/01 "Contingencies of Economic Activities"

Contingencies of economic activities and their consequences are registered in accounting work of commercial organisations regardless of the possibility of reduction or increase in the future of economic benefits of the organisation stipulated by the fact of economic activities of the organisation.

Order of the Ministry of Finance of the Russian Federation No. 143n of December 20, 2007 on the Amendments to the Accounting Regulation PBU 7/98 "Events after the Reporting Date"

The amendments specify that significance of the event after the reporting date shall be determined by the organisation independently proceeding from common requirements to accounting reports.

Order of the Ministry of Finance of the Russian Federation No. 142n of December 20, 2007 on the Amendments to the Order of the Ministry of Finance of the Russian Federation No. 146n of November 14, 2006

Provides a new wording for the Guide of Codes of the Types of Excisable Commodities, except for tobacco items, and the Guide of Codes of the Types of Excisable Commodities (Tobacco Items).

Order of the Ministry of Finance of the Russian Federation No. 132n of December 17, 2007 on the Endorsement of the Form of the Tax Declaration for the Uniform Social Tax for Independent Entrepreneurs, Lawyers, Private Notaries and Its Filling Procedure

The declaration is submitted by taxpayers, including the heads of the peasant (farmer) enterprises, to the tax bodies at the place of residence no later than the 30th of April of the year following the expired tax period.

Order of the Federal Agency for Tourism No. 141 of December 19, 2007 on the Endorsement of the Administrative Regulation of the Federal Agency for Tourism on the Rendering of the State Service of Informing According to Established Procedure of Tour Operators, Tour Agencies and Tourists of the Security Hazards for Tourists in the Country (Place) of Temporary Stay

The duty to inform tour operators, tour agencies and tourists of the security hazards for tourists in the country (place) of temporary stay is vested in the Federal Agency for Tourism.

Order of the Ministry for Emergency Situations of the Russian Federation No. 645 of December 12, 2007 on the Endorsement of the Norms of Fire Safety "Study of the Measures of Fire Safety for Employees of Organisations"

The main methods to teach employees of organisations the measures of fire safety is fire safety instructions and the minimum knowledge of fire safety techniques.

Order of the Federal Service for Financial Markets No. 07-247/pz of December 13, 2007 on the Endorsement of the Content of Information on the Activities of the Federal Service for Financial Markets of Russia to Be Placed on the Internet Site of the Federal Service for Financial Markets of Russia and the Procedure to Provide Access for Citizens and Organisations to the Information Resource

Defines the content of information on the activities of the Federal Service for Financial Markets of Russia to be placed on the Internet site of the Federal Service for Financial Markets of Russia at the address of: http://www.fcsm.ru.

Letter of the Central Bank of Russia No. 8-T of January 18, 2008 on the Application of Item 1.3 of Article 7 of the Federal Law on the Combating of Legalisation (Laundering) of Incomes Obtained in a Criminal Way and Financing of Terrorism

The Federal Service for Financial Monitoring issued a report on the definition of "foreign public figures".

Decision of the Constitutional Court of the Russian Federation No. 1-P of January 17, 2008 on the Case of Constitutionality of Provisions of Articles 9 and 10 of the Federal Constitutional Law on the Arbitration Courts in the Russian Federation and Articles 181, 188, 195, 273, 290, 293 and 299 of the Code of Arbitration Procedures of the Russian Federation Pursuant to the Appeals of the Closed-Type Joint-Stock Company SEB Russian Leasing, Limited-Liability Company Nefte-Standart and the Limited-Liability Company Research and Production Enterprises Nefte-Standart

The applicants challenged constitutionality of individual provisions of the Federal Constitutional Law on the arbitration courts in the Russian Federation (sphere of reference of the Higher Arbitration Court of the Russian Federation) and the Code of Arbitration Procedures of the Russian Federation (procedure for appealing against judicial acts, including the cases of challenged normative legal acts).

Order of the Ministry of Justice of the Russian Federation No. 245 of December 20, 2007 on the Amendments to the Order of the Ministry of Justice of the Russian Federation No. 16 of March 4, 2005

Adjusts the rules of entry of records on the rights for the enterprise as a property complex and transactions with it in the Joint State Register of Rights for Immovable Property and Transactions with It and interaction between the Federal Registration Service and its territorial bodies.

Decision of the Management Board of the Pension Fund of Russia No. 275p of November 2, 2007 on the Endorsement of the Instruction on the Work with Appeals of Citizens, the Insured, Organisations and Insurants in the Executive Board of the Pension Fund of Russia and the Revision Commission of the Pension Fund of Russia and of the Regulation on the Organisation of Reception of Citizens, the Insured, Representatives of Organisations and Insurants in the Pension Fund of the Russian Federation

Introduces a uniform procedure to process appeals of citizens, the insured, organisations and insurants in the Executive Board of the Pension Fund of the Russian Federation and the Revision Commission of the Pension Fund of Russia, as well as the procedure of reception of the mentioned persons in the Pension Fund of the Russian Federation.

Decision of the Government of the Russian Federation No. 23 of January 24, 2008 on the Amendments to the Lists of License Terms for Activities in the Sphere of Appropriate Communication Services

The license terms shall include in addition submission of information on the estimate base for obligatory deductions (non-tax payments) to the multiple services reserve according to the procedure and form specified by the federal body of executive power in charge of communication.

Order of the Ministry of Finance of the Russian Federation No. 153n of December 27, 2007 on the Endorsement of the Accounting Regulation PBU 14/2007 "Registration of Non-Material Assets"

Introduces new rules of generation in accounting work and accounting reports of information on non-material assets of organisations being legal entities in compliance with the legislation of the Russian Federation (except for credit organisations and budget-supported institutions).

Order of the Ministry of Information Technologies and Communication of the Russian Federation No. 1 of January 9, 2008 on the Endorsement of the Requirements on the Protection of Communication Networks against Unauthorised Access to Them and Information Transferred through Them

The endorsed requirements apply to telecommunication networks forming part of a public-use communication network, except for TV and radio broadcasting communication networks.

Order of the Ministry of Economic Development of the Russian Federation No. 445 of December 20, 2007 on the Amendments to the Methodology Directions on the Determination of the Cadastral Cost of the Newly Created Land Plots and Existing Land Plots in Cases of Change of the Category of Lands, Type of Permitted Use or Refining of the Area of the Land Plot Endorsed by the Order of the Ministry of Economic Development of Russia No. 222 of August 12, 2006

If several earlier registered land plots are revealed within the single cadastral quarter, one act of determination of the cadastral cost of land plots is drawn up. If a single earlier registered land plot of the same land use is revealed, the act of determination of the cadastral cost of the land plots is drawn up for each cadastral quarter.

Direction of the Central Bank of Russia No. 1960-U of December 28, 2007 on the Amendment to Item 6.3 of the Regulation of the Bank of Russia No. 254-P of March 26, 2004 on the Procedure of Generation of Reserves for Possible Losses by Credit Organisations for Loans, Debts in Loans and Similar Debts

Orders of the funds of entrepreneurial support and the funds of assistance of crediting of small and medium businesses formed by the subjects of the Russian Federation are included in quality category II of loan security.

Decision of the Government of the Russian Federation No. 30 of January 25, 2008 on the Endorsement of the Rates of Rent for the Use of Land Plots Not Permitted for Privatisation in Compliance with the Legislation of the Russian Federation That Are Handed over to Organisations of the Nuclear Power Supply Complex under Lease Contracts

Introduces the rates of rent for the use of land plots not permitted for privatisation in compliance with the legislation of the Russian Federation that are handed over to organisations of the nuclear power supply complex under lease contracts.

Decision of the Government of the Russian Federation No. 29 of January 25, 2008 on the Endorsement of the Rules of Forming of Prices for the Russian-Made Armaments and Military Equipment That Do Not Have Russian-Made Analogues and Made by the Sole Producer

The sole supplier shall form the price per item of products proceeding from its production and sale expenses taking into account the particulars of production of individual types of military equipment or by indexing of the price by items of expenses using appropriate producer price indices for the types of economic activities assuming as a basic one the earlier registered price for this product and taking into account the factors reducing its production expenses.

Letter of the Ministry of Finance of the Russian Federation No. 03-04-07-01/13 of January 28, 2008 on the Application of the Actual Form of the Tax Declaration for the Incomes Tax from Natural Persons for the Incomes of Taxpayers Obtained by Them in 2007 and on the Endorsement of the New Form of the Tax Declaration

The Order of the Ministry of Finance of the Russian Federation No. 162n of December 29, 2007 endorses the new form of the tax declaration for the incomes tax from natural persons (form 3-NDFL) and its filling procedure.

Order of the Federal Service for Financial Markets No. 07-113/pz-n of December 27, 2007 on the Requirements to the Procedure of Keeping of the Register of Holders of Personal Securities by Issuers of Securities

Introduces additional requirements to the procedure of keeping of the Register of Holders of Personal Securities by issuers of these securities.

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