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 16.01.2008

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.

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