Windfall tax for major companies to be introduced in Russia

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Monitoring of the Federal Legislation dated 10.01.2008

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.

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