Windfall tax for major companies to be introduced in Russia

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Monitoring of the Federal Legislation dated 31.07.2008

Federal Law No. 104-FZ of June 30, 2008 on the Amendment to Article 1249 of Part 4 of the Civil Code of the Russian Federation

The amendments pertain to the procedure of collection of patent and other duties.

Order of the Ministry of Public Health and Social Development of the Russian Federation No. 252n of June 2, 2008 on the Amendments to the Appendix to the Order of the Ministry of Public Health and Social Development No. 74n of February 18, 2008 on the Distribution among the Subjects of the Russian Federation of the Quota Endorsed by the Government of the Russian Federation for 2008 for Permissions to Enter the Russian Federation for the Purposes of Employment Issued to Foreign Citizens

Increases the quota of invitations to foreign citizens in 2008 for the purposes of employment.

Ruling of the Cassation Board of the Supreme Court of the Russian Federation No. KAS08-232 of June 10, 2008

The Cassation Board of the Supreme Court of the Russian Federation revoked the court ruling having invalidated the strict-accountability form "Tourist Accommodation".

Federal Law No. 108-FZ of June 30, 2008 on the Amendments to the Federal Law on Concession Agreements and Individual Legislative Acts of the Russian Federation

The amendments improve legal regulation of relations of use of property on the terms of a concession agreement.

Federal Law No. 107-FZ of June 30, 2008 on the Ratification of the Agreement between the Government of the Russian Federation and the Government of the Syrian Arab Republic on the Settlement of the Debt of the Syrian Arab Republic to the Russian Federation under the Credits Earlier Granted by the Former USSR of May 29, 2005 and the Addition to This Agreement of January 17, 2007

The goal of the ratified Agreement and the Addition to it is the settlement of the debt of the Syrian Arab Republic to Russia under the credits granted between 1957 and 1989 by the former USSR for supplies of products of special destination.

Decision of the Government of the Russian Federation No. 478 of June 27, 2008 on the Amendments to the Decisions of the Government of the Russian Federation No. 45 of January 26, 2006 and No. 397 of June 23, 2007

According to the Federal Law on the licensing of individual types of activities, the licensing does not apply to the transportation carried out by the vessels of the state aviation, experimental aviation, civil aviation, including the general purpose aviation, without collection of payment.

Order of the Ministry of Regional Development of the Russian Federation No. 71 of June 9, 2008 on the Normative of the Cost of 1 Square Meter of Total Dwelling Space for the Second Half of 2008 and the Average Market Cost of 1 Square Meter of Total Dwelling Space by the Subjects of the Russian Federation for the III quarter of 2008

The normative of the cost of 1 square meter of total dwelling space for the Russian Federation for the second half of 2008 is fixed in the amount of Rbl 28,650.

Order of the Federal Service for Financial Monitoring No. 138 of May 29, 2008 on the Territorial Bodies of the Federal Service for Financial Monitoring

Defines the main authority and procedure of organisation of activities of the territorial bodies of the Federal Service for Financial Monitoring.

Order of the Federal Service for Financial Monitoring No. 130 of May 23, 2008 on the Endorsement of the Administrative Regulation on the Execution by the Federal Service for Financial Monitoring of the State Function of Coordination of the Rules of Internal Control of Organisations Carrying out Operations with Monetary Resources or Another Property Where Enforcement Bodies Are Not Available

According to the actual legislation, the rules of internal control in organisations carrying operations with monetary resources or another property must be coordinated in the appropriate enforcement body, and if it is not available - the Federal Service for Financial Monitoring.

Decision of the Government of the Russian Federation No. 485 of June 28, 2008 on the List of International Organisations Whose Grants (Free Aid) Received by Taxpayers Are Exempted from Taxes and Are Not Included for Taxation Purposes in Incomes of Russian Organisations Getting the Grants

Lists international organisations whose gratuitous aid (grants) to taxpayers is exempted from taxes and are not included for taxation purposes in incomes of Russian organisations getting the grants.

Direction of the Central Bank of Russia No. 2020-U of June 4, 2008 on the Amendments to Items 2.1 and 3.6 of the Regulation of the Bank of Russia No. 273-P of July 14, 2005 on the Procedure for the Bank of Russia to Grant Credits to Credit Organisations Secured with Pledged Promissory Notes, Claims Rights under Credit Contracts of Organisations or Guarantees of Credit Organisations

From July 1, 2008, introduces a new procedure of assessment of the economic standing of banks.

Direction of the Central Bank of Russia No. 2018-U of June 4, 2008 on the Amendment to Item 2.1 of the Regulation of the Bank of Russia No. 312-P of November 12, 2007 on the Procedure for the Bank of Russia to Grant Credits to Credit Organisations Secured with Assets

Instead of assessment of the financial standing of credit organisations, introduces a procedure of assessment of the economic standing of banks.

Direction of the Central Bank of Russia No. 2017-U of June 4, 2008 on the Amendment to Item 3.5 of the Regulation of the Bank of Russia No. 236-P of August 4, 2003 on the Procedure for the Bank of Russia to Grant Credits to Credit Organisations Secured with Pledged (Blocking of) Securities

Adjusts the procedure for the Bank of Russia to grant credits to credit organisations secured with the pledge (blocking) of securities.

Direction of the Central Bank of Russia No. 2016-U of June 4, 2008 on the Amendments to Items 3.1 and 3.3 of the Regulation of the Bank of Russia No. 290-P of July 4, 2006 on the Procedure for the Bank of Russia to Grant Permissions to Credit Organisations to Have Affiliated Organisations on the Territory of a Foreign State

Revises the list of documents to be submitted to get the permission to have affiliated organisations in a foreign state.

Decision of the Government of the Russian Federation No. 480 of June 26, 2008 on the Endorsement of the Rules of Submission of Documents to the Customs Bodies in the Points of Transfer through the State Border of the Russian Federation Necessary for the Purposes Other Than the Customs Control

From January 1, 2007, the customs bodies are empowered with authority to demand documents necessary for the transport, veterinary, phytosanitary and quarantine control.

Order of the Ministry of Public Health and Social Development of the Russian Federation No. 263n of June 6, 2008 on the Endorsement of the Methodology Directions on the Implementation by the Bodies of State Power of the Subjects of the Russian Federation of the Transferred Authority of the Russian Federation of Licensing of the Pharmacy Activities

The authority of the Russian Federation in the sphere of public health transferred for implementation to the bodies of state power of the subjects of the Russian Federation includes the licensing of the pharmacy activities (other than activities of organisations of the wholesale trade of medicines and apothecaries of the federal public health organisations).

Letter of the Department of the Tax and Customs Tariff Policy of the Ministry of Finance of the Russian Federation No. 03-04-06-01/164 of June 11, 2008

Examines the issue of the need to accrue the incomes tax from natural persons for the amounts of coverage of employee travel if he is sent on a business trip from the place of residence rather than the place of work.

Letter of the Department of the Tax and Customs Tariff Policy of the Ministry of Finance of the Russian Federation No. 03-04-06-02/57 of June 11, 2008

If the employer covers (or reimburses) to the employee the rent for the dwelling space, amounts of this rent (reimbursement) are subject to the incomes tax from natural persons and the uniform social tax.

Letter of the Department of the Tax and Customs Tariff Policy of the Ministry of Finance of the Russian Federation No. 03-04-05-01/204 of June 16, 2008

The taxpayer may enjoy a property tax exemption in the amount allocated to redeem the interest under targeted loans (credits) and actually spent for the construction or purchase of dwelling space on the territory of the Russian Federation.

Order of the Ministry of Regional Development of the Russian Federation and the Ministry of Economic Development of the Russian Federation No. 72/158 of June 16, 2008 on the Endorsement of the Form for the Application of the Higher Executive Body of State Power of the Subject of the Russian Federation for the Use of the Federally Owned Land Plot for the Purposes of Housing and Other Construction, Including Production of Construction Materials, Items and Structures

A prohibition was introduced for the federal bodies of executive power (until 2009) for coordination of transactions pertaining to the disposal of the federally owned land plots.

Order of the Federal Service for Financial Markets No. 08-24/pz-n of June 5, 2008 on the Amendments to the Regulation on the Procedure for the Federal Service for Financial Markets to Issue a Permission for the Placing and/or Circulation of Emission Securities of Russian Issuers outside the Russian Federation Endorsed by the Order of the Federal Service for Financial Markets of Russia No. 06-5/pz-n of January 12, 2006

The amendments reduce the normative of the amount of securities of the Russian issuer permitted for placing and circulation outside the Russian Federation.

Order of the Federal Service for Financial Markets No. 08-23/pz-n of June 3, 2008 on the Endorsement of the Requirements to the Rules of Organisation and Implementation of Internal Control in a Non-State Pension Fund

A non-state pension fund must arrange internal control of compliance of its activities in non-state pension support, pension insurance and occupational pension insurance with the requirements of the normative legal acts of the Russian Federation regulating the mentioned types of activities.

Order of the Federal Service for Financial Markets No. 08-22/pz-n of June 3, 2008 on the Amendments to the Standards of Issue of Securities and Registration of Prospectuses of Securities Endorsed by the Order of the Federal Service for Financial Markets of Russia No. 07-4/pz-n of January 25, 2007

Expands the list of documents necessary for the state registration of the report of the results of issue (additional issue) of securities.

Direction of the Central Bank of Russia No. 2030-U of June 18, 2008 on the Amendments to Appendix 1 to the Instruction of the Bank of Russia No. 110-I of January 16, 2004 on the Obligatory Normatives of Banks

Liquid assets include investments into unencumbered equity securities of residents of the Russian Federation (accounts (parts thereof)): 50605, 50606, (50621-50620), 50705, 50706, (50721-50720) except for the voting stocks where investments as of the date of calculation of the bank's current liquidity normative are greater than 5% of the registered capital of the joint-stock company where the bank is a stock-holder.

Direction of the Central Bank of Russia No. 2028-U of June 16, 2008 on the Amendments to the Regulation of the Bank of Russia No. 254-P of March 26, 2004 on the Procedure for Credit Organisations to Generate Reserves for Possible Losses in Loans, Debts in Loans and Similar Debts

When credit organisations generate reserves for possible losses in loans they compile a borrower file containing information on the borrower.

Order of the Federal Migration Service No. 142 of June 6, 2008 on the Endorsement of the Administrative Regulation of the Federal Migration Service on the Provided State Service of Drawing up and Issue of Invitations to Foreign Citizens and Stateless Persons to enter the Russian Federation

Regulates the procedure for the Federal Migration Service of Russia to draw up and issue invitations to enter the Russian Federation for foreign citizens and stateless persons.

Order of the Ministry of Regional Development of the Russian Federation No. 48 of April 14, 2008 on the Endorsement of the Method of Monitoring of Implementation of Production and Investment Programs of Organisations of the Communal Complex

Specifies the procedure and terms of monitoring of implementation of production and investment programs of organisations of the communal complex.

Decision of the Government of the Russian Federation No. 481 of June 26, 2008 on the Endorsement of the Rules for the Customs Bodies to Carry out Individual Actions Pertaining to Transport Control in the Points of Transfer through the State Border of the Russian Federation

Transport control includes the checking of the transport vehicles, as well as permissions and other documents envisaged in international treaties of the Russian Federation in the sphere of international road transport.

Decision of the Presidium of the Higher Arbitration Court of the Russian Federation No. 3245/08 of June 3, 2008

The Presidium of the Higher Arbitration Court of the Russian Federation agreed with the courts having recognised as illegal the tax body default evident in the failure to return VAT amounts to the taxpayer.

Letter of the Central Bank of Russia No. 77-T of July 1, 2008 on the Rouble Equivalents of the Figures Envisaged in the Direction of the Bank of Russia No. 1755-U of December 11, 2006

Specifies the rouble equivalents of the registered capital for banks for the III quarter of 2008.

Letter of the Central Bank of Russia No. 80-T of July 4, 2008 on the Enhancing of Control over Individual Operations of Natural Persons and Legal Entities with Promissory Notes

To combat legalisation (laundering) of criminal incomes, credit organisations are recommended to send information to the authorised body on operations of transfer of monetary resources in favour of non-residents in the course of execution by the Russian credit organisations of obligations under promissory notes where the first holders were Russian legal entities.

Letter of the Federal Service for Financial Markets No. 08-VM-03/13364 of June 24, 2008 on the Purchase of Securities of the Open-Type Joint-Stock Company on the Basis of a Mandatory Offer

The person having purchased more than 30%, 50% or 75% of the total amount of ordinary or preferred stocks of an open-type company must send to the holders of the rest of the stocks a public offer to purchase such securities with them.

Order of the Federal Security Service of the Russian Federation No. 227 of May 6, 2008 on the Endorsement of the Instruction on the Organisation of Work of the Borderguard Bodies to Prolong the Visa and Revoke the Visa in the Points of Transfer through the State Border of the Russian Federation

The state body authorised to prolong the visa and revoke the visa is the borderguard body of the Federal Security Service of Russia located in the point of transfer through the state border of the Russian Federation.

Order of the Federal Service for Financial Markets No. 08-17/pz-n of April 15, 2008 on the Registration of Rights for Investment Shares of Shared Investment Funds

Introduces a new procedure of keeping of the register of holders of investment shares of shared investment funds.

Order of the Federal Service for Financial Markets No. 08-19/pz-n of May 20, 2008 on the Endorsement of the Regulation on the Composition and Structure of Assets of Joint-Stock Investment Funds and Assets of Shared Investment Funds

The assets of joint-stock and shared investment funds include investment shares of shared investment funds, mortgage securities and Russian depositary notes.

Letter of the Central Bank of Russia No. 81-T of July 4, 2008 "Explanations on Individual Issues Received from the Territorial Institutions of the Bank of Russia"

Provides explanations on some issues of opening and keeping of budget accounts.

Letter of the Department of the Tax and Customs Tariff Policy of the Ministry of Finance of the Russian Federation No. 03-03-06/1/346 of June 5, 2008

Provides explanations on the issue of documentary confirmation of expenses of the organisation for the service trips of employees whose permanent work is carried out while travelling or is of travelling nature (to register such expenses for taxation purposes).

Letter of the Department of the Tax and Customs Tariff Policy of the Ministry of Finance of the Russian Federation No. 03-03-06/1/560 of June 11, 2008

The audit and consulting activities are included in services for the purposes of taxation of profit of organisations.

Letter of the Department of the Tax and Customs Tariff Policy of the Ministry of Finance of the Russian Federation No. 03-05-05-01/41 of June 24, 2008

Explains the procedure of collection of the property tax from organisations for the property obtained under payoff or loan contracts.

Official Report of the Central Bank of Russia of July 11, 2008

The Bank of Russia increased the rate of refinancing from 10.75% to 11% annual from July 14, 2008.

Federal Law No. 113-FZ of July 14, 2008 on the Amendment to Article 18 of the Federal Law on the Licensing of Individual Types of Activities

The licensing of audit activities is prolonged until January 1, 2009.

Decision of the Government of the Russian Federation No. 482 of June 26, 2008 on the Endorsement of the Rules of Institution, Opening, Functioning (Operation) Reconstruction and Closing of the Points of Transfer through the State Border of the Russian Federation

Introduces a new procedure of institution, opening, functioning, reconstruction and closing of the points of transfer through the state border of the Russian Federation.

Order of the Ministry of Transport of the Russian Federation No. 92 of June 17, 2008 on the Endorsement of the Procedure to Permit Access to Carriers with Appropriate Licenses to the International Air Passenger and/or Cargo Transportation

The carriers must have an appropriate license and get the permission of the Federal Agency of the Air Transport.

Order of the Ministry of Finance of the Russian Federation No. 61n of June 18, 2008 on the Amendments to the Order of the Ministry of Finance of the Russian Federation No. 60n of April 11, 2006

In view of the introduction of the simplified procedure of licensing of mutual insurance companies, adjusts the requirements to the application, information and documents submitted to get the license of the subject of insurance activities.

Federal Law No. 118-FZ of July 14, 2008 on the Amendments to the Water Code of the Russian Federation and Individual Legislative Acts of the Russian Federation

The amendments improve the water use legislation.

Federal Law No. 117-FZ of July 14, 2008 on the Amendments to Article 23 of the Federal Law on the Fundamentals of Obligatory Social Insurance and Article 16 of the Federal Law on the Obligatory Pension Insurance in the Russian Federation

Adjusts the procedure of depositing of the monetary resources of the obligatory social and pension insurance.

Federal Law No. 116-FZ of July 14, 2008 on the Amendments to the Federal Law on the Budget of the Federal Fund of Obligatory Medical Insurance for the Year 2007

The Federal Law removes a technical error in the distribution of resources of the budget of the Federal Fund of Obligatory Medical Insurance allocated for territorial programs of obligatory medical insurance in 2007.

Federal Law No. 115-FZ of July 14, 2008 on the Ratification of the Agreement between the Government of the Russian Federation and the Government of the Republic of Tajikistan on the Settlement of the Debt of the Republic of Tajikistan to the Russian Federation under State Credits and the Addendum to the Agreement between the Government of the Russian Federation and the Government of the Republic of Tajikistan on the Settlement of the Debt of the Republic of Tajikistan to the Russian Federation under State Credits of December 9, 2002 on the Early Redemption of the Debt of the Republic of Tajikistan to the Russian Federation by the Transfer in the Property of the Russian Federation of the Optical Electronic Node Nurek Owned by the Republic of Tajikistan and on the Investing of the Rest of the Debt in the Construction of the Sangtudinskaya Hydro Power Station 1 on the Territory of the Republic of Tajikistan

Ratifies the Agreement on the settlement of the debt of the Republic of Tajikistan to the Russian Federation under state credits singed in Moscow on December 9, 2002 and the Addendum to this Agreement signed in Dushanbe on October 16, 2004.

Federal Law No. 114-FZ of July 14, 2008 on the Ratification of the Protocol on the Amendments to the Agreement between the Member-States of the Shanghai Organisation of Cooperation on the Regional Antiterrorist Structure Signed on June 7, 2002 in the City of St.Petersburg (Russian Federation)

Russia ratified the Protocol on the amendments to the Agreement between the member-states of the Shanghai Organisation of Cooperation on the regional antiterrorist structure of June 7, 2002 signed in Bishkek on August 16, 2007.

Decision of the Plenum of the Higher Arbitration Court of the Russian Federation No. 30 of June 30, 2008 on Some Issues of Application by Arbitration Courts of the Antimonopoly Legislation

The Plenum of the Higher Arbitration Court of the Russian Federation prepared explanations on the most disputable issues in the practice of application by the courts of the provisions of the antimonopoly legislation.

Decision of the Government of the Russian Federation No. 514 of July 14, 2008 on the Endorsement of the Rate of the Import Customs Duty for Digital Cameras

Introduces on a permanent basis the zero rate of the import customs duty for digital cameras.

Direction of the Central Bank of Russia No. 2039-U of July 11, 2008 on the Amendments to the Direction of the Bank of Russia No. 1601-U of August 5, 2005 on the Terms for the Bank of Russia to Grant Credits to Credit Organisations Secured with Pledged Promissory Notes, Claims Rights under Credit Contracts of Organisations or Guarantees of Credit Organisations

Increases the interest rates for the credits of the Bank of Russia secured with the pledge of promissory notes, claims rights under credit contracts of organisations or guarantees of credit organisations.

Direction of the Central Bank of Russia No. 2038-U of July 11, 2008 on the Amount of the Interest Rates for the Lombard Credits of the Bank of Russia

From July 14, 2008, increases the interest rate for the lombard credits of the Bank of Russia.

Direction of the Central Bank of Russia No. 2037-U of July 11, 2008 on the Amount of the Rate of Refinancing of the Bank of Russia

From July 14, 2008, increases the rate of refinancing of the Central Bank of Russia to make 11.0% instead of the previous 10.75% introduced in June 2008.

Direction of the Central Bank of Russia No. 2036-U of July 11, 2008 on the Amount of the Interest Rate for the Overnight Credit of the Bank of Russia

From July 14, 2008, the interest rate for the overnight credit of the Bank of Russia is increased from 10.75% to 11% annual.

Order of the Ministry of Agriculture of the Russian Federation No. 273 of June 26, 2008 on the Endorsement of the Norms of Natural Loss

Endorses new norms of natural loss for production and circulation (except for the retail trade) of ethyl alcohol, alcoholic and alcohol-containing products.

Decision of the Government of the Russian Federation No. 520 of July 14, 2008 on the Fundamentals of Price Forming and Procedure of Regulation of Tariff Rates, Mark-Ups and Limiting Indices in the Sphere of Activities of Organisations of the Communal Complex

Defines the principles and methods of regulation, as well as the procedure of fixing of tariff rates for the goods and services of organisations of the communal complex.

Letter of the Ministry of Regional Development of the Russian Federation No. 16568-SK/08 of July 9, 2008

Reports indices of change of the estimated cost of construction and installation works, design and survey works, other works and expenses, technological equipment recommended for application in the III quarter of 2008.

Order of the Ministry of Justice of the Russian Federation No. 139 of July 8, 2008 on the Amendments to the Order of the Ministry of Justice of the Russian Federation No. 192 of September 21, 2007

The procedure of search of the debtor organisation and the debtor property by the Federal Bailiff Service is being brought in compliance with the new Federal Law on executive proceedings.

Federal Law No. 120-FZ of July 18, 2008 on the Amendments to the Federal Law on the Continental Shelf of the Russian Federation and Individual Legislative Acts of the Russian Federation

The adopted Federal Law permits to increase the volumes of production of hydrocarbon raw materials through development of resources of the continental shelf of the Russian Federation.

Letter of the Federal Tax Service No. ShT-6-3/505@ of July 17, 2008 on the Information Necessary for the Calculation of the Tax on Extraction of Mineral Resources for Oil for June 2008

Provides information used for the calculation of the tax on extraction of mineral resources for oil for June 2008.

Order of the Federal Service for Financial Markets No. 08-25/pz-n of June 17, 2008 on the Amendments to the Regulation on the Requirements to the Procedure and Time Limits of Disclosing of Information Pertaining to Activities of Joint-Stock Investment Funds and Management Companies of Shared Investment Funds, As Well As to the Content of the Disclosed Information Endorsed by the Order of the Federal Service for Financial Markets of Russia No. 05-23/pz-n of June 22, 2005

The management company of the shared investment fund shall publish the rules registered by the federal body of executive power in charge of securities in the printed source and the Internet before the forming of the shared investment fund.

Decree of the President of the Russian Federation No. 1108 of July 18, 2008 on the Improvement of the Civil Code of the Russian Federation

The goal of the new concept of development of civil legislation of the Russian Federation is compliance with a new level of market relations, bringing it closer to the laws of the European Union, uniformity in the CIS member-states.

Decree of the President of the Russian Federation No. 1106 of July 18, 2008 on the Amendments to the Decree of the President of the Russian Federation No. 1157 of November 18, 1995 on Some Measures to Protect the Rights of Depositors and Stock-Holders

The right for compensation payments rests with the citizens having become victims of organisations or natural persons included in the special register of violators of legislation at the financial and stock market.

Decree of the President of the Russian Federation No. 1105 of July 18, 2008 on the Research Centre of Private Law of the President of the Russian Federation

Defines the main directions of activities of the Research Centre of Private Law of the President of the Russian Federation.

Decision of the Government of the Russian Federation No. 545 of July 18, 2008 on the Endorsement of the Rules of Compensation of Losses Suffered by the Owners of the Infrastructure of the Public-Use Railway Transport and/or Carriers As a Result of Individual Deliveries by the Railway Transport in Cases of Hazards to Social and Economic Stability, Defence Potential, State Security and Other Cases Envisaged in the Legislation of the Russian Federation

Specifies the procedure of compensation of losses suffered in individual deliveries by the railway transport in cases of hazards to social and economic stability, defence potential, state security.

Decision of the Government of the Russian Federation No. 544 of July 18, 2008 on the Amendments to the Decision of the Government of the Russian Federation No. 490 of August 13, 2006

Refines the procedure of licensing of individual types of activities on the sea and internal water transport.

Decision of the Government of the Russian Federation No. 541 of July 18, 2008 on the Endorsement of the Rate of the Import Customs Duty for Video Games Using TV Sets

Introduces a reduced rate of the customs duty on a permanent basis for video games using TV sets.

Decision of the Government of the Russian Federation No. 547 of July 21, 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

From August 1, 2008, increases once again 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.

Decision of the Government of the Russian Federation No. 542 of July 18, 2008 on the Amendments to the Regulation on the Commission of the Government of the Russian Federation for the Issues of the Agroindustrial Complex

Adjusts the sphere of reference and the procedure of organisation of activities of the Commission of the Government of the Russian Federation for the Issues of the Agroindustrial Complex.

Federal Law No. 155-FZ of July 22, 2008 on the Amendments to Part 2 of the Tax Code of the Russian Federation

Creates more favourable conditions for small businesses to apply special tax regimes.

Federal Law No. 142-FZ of July 22, 2008 on the Amendments to Chapter 22 of Part 2 of the Tax Code of the Russian Federation

Changes the rates of excise duty taxes for the years 2009-2011.

Decision of the Government of the Russian Federation No. 529 of July 15, 2008 on the Endorsement of the Rates of Import Customs Duties for Individual Commodities

Introduces on the permanent basis the zero rate of the import customs duty for accumulator cells, as well as antenna parts and reflectors.

Order of the Federal Service for Financial Markets No. 08-102/pz of July 1, 2008 on the Endorsement of the Regulation on the Procedure of Processing of Appeals of Citizens and Organisations Received in the Federal Service for Financial Markets

Regulates the procedure of processing by the Federal Service for Financial Markets of Russia of appeals of citizens and organisations.

Order of the Federal Fishing Agency No. 18 of July 7, 2008 on the Endorsement of the Form of the Request of the Fishing Vessels to Enter (Leave) the Sea Ports of the Russian Federation

A notification procedure and selective state control is applied for vessels and products.

Federal Law No. 162-FZ of July 24, 2008 on the Amendments to the Federal Law on the Organisation and Carrying out of the XXII Olympic Games and the XI Paralympic Games of 2014 in the City of Sochi, Development of the City of Sochi As a Mountain Climate Resort and on the Amendments to Individual Legislative Acts of the Russian Federation and Article 14 of the Federal Law on the Ecological Expert Evaluation

Regulates the city planning and land relations emerging in view of the Olympic Games of 2014 to be carried out in the city of Sochi.

Federal Law No. 161-FZ of July 24, 2008 on the Assistance of Development of the Housing Construction

The Federal Law adopted to form the market of affordable dwelling space envisages creation of the Federal Fund of Assistance of Development of Housing Construction.

Federal Law No. 160-FZ of July 23, 2008 on the Amendments to Individual Legislative Acts of the Russian Federation in the Sphere of Reference of the Government of the Russian Federation

Some of the authority of the Government of the Russian Federation is handed over to the federal bodies of executive power.

Federal Law No. 159-FZ of July 22, 2008 on the Particulars of Alienation of Immovable Property Owned by the Subjects of the Russian Federation or Municipal Property and Leased by the Subjects of Small and Medium Size Businesses and on the Amendments to Individual Legislative Acts of the Russian Federation

Small and medium-size businesses enjoy the priority right of purchase of the immovable property leased by them out of the one available in the property of the subjects of the Russian Federation or municipal property.

Federal Law No. 158-FZ of July 22, 2008 on the Amendments to Chapters 21, 23, 24, 25 and 26 of Part 2 of the Tax Code of the Russian Federation and Some Other Acts of the Legislation of the Russian Federation on Taxes and Fees

The adopted Federal Law is aimed at creation of favourable tax conditions for an innovative development of the economy and improvement of social well-being of citizens.

Federal Law No. 150-FZ of July 22, 2008 on the Amendments to the Federal Law on the Currency Regulation and Currency Control

Extends the list of permitted currency operations carried out between residents.

Federal Law No. 148-FZ of July 22, 2008 on the Amendments to the City Planning Code of the Russian Federation and Individual Legislative Acts of the Russian Federation

Regulates the issues of forming and activities of self-regulating organisations in the sphere of engineering surveys, architectural design and construction for the purposes of regulation of relations in the absence of licensing of the appropriate types of activities.

Federal Law No. 143-FZ of July 22, 2008 on the Amendments to the Forestry Code of the Russian Federation and the Federal Law on the Entry into Force of the Forestry Code of the Russian Federation

The amendments pertain to the protection of rights of citizens for the use of forests, improvement of the procedure of arranging of auctions to sell the rights to conclude lease contracts for the parts of forests and the purchase-and-sale contracts for plantations, improvement of the procedure of use of forests for certain types of activities, as well as the rational use of the forest reserves.

Federal Law No. 141-FZ of July 22, 2008 on the Amendments to Individual Legislative Acts of the Russian Federation Pertaining to Improvement of Land Relations

Introduces a new chapter in the Forestry Code of the Russian Federation dedicated to issues of forming, isolation, amalgamation and redistribution of land plots.

Federal Law No. 138-FZ of July 22, 2008 on the Amendments to Articles 38 and 39 of the Code of Arbitration Procedures of the Russian Federation

Specifies the procedure of appealing to the arbitration courts in the cases involving arbitration courts.

Federal Law No. 136-FZ of July 22, 2008 on the Amendments to Articles 5 and 28 of the Federal Law on Narcotic Drugs and Psychotropic Substances

Specifies a special procedure of export of narcotic drugs and psychotropic substances for the purposes of humanitarian aid, as well as in emergency situations.

Federal Law No. 135-FZ of July 22, 2008 on the Amendment to Article 256 of Part 2 of the Tax Code of the Russian Federation and on Invalidation of Individual Provisions of Legislative Acts of the Russian Federation on Taxes and Fees

The list of property exempted from amortisation includes productive animals other than the draught animals.

Federal Law No. 131-FZ of July 22, 2008 on the Ratification of the Agreement between the Government of the Russian Federation and the Government of the Republic of Kazakhstan on Cooperation in Creation of the Company on the Basis of the Orenburg Gas Processing Factory

The ratified Agreement was signed in the city of Uralsk on October 3, 2006.

Decision of the Government of the Russian Federation No. 556 of July 22, 2008 on the Limiting Amounts of Receipts from Sale of Commodities (Works, Services) for Each Category of Subjects of Small and Medium-Size Businesses

Specifies the limiting amounts of receipts from sale of commodities (works, services) for the previous year without VAT permitting to include organisations and independent entrepreneurs in one of the categories of subjects of small and medium-size businesses.

Decision of the Government of the Russian Federation No. 554 of July 22, 2008 on the Minimum Amount of the Labour Remuneration Mark-Ups for the Night Work

The Labour Code of the Russian Federation envisages a higher labour remuneration for the night work.

Decision of the Constitutional Court of the Russian Federation No. 9-P of July 16, 2008 on the Case of Constitutionality of Provisions of Article 82 of the Code of Criminal Procedures of the Russian Federation Pursuant to the Appeal of Citizen V.V.Kostylev

Recognises as not complying with the Constitution of the Russian Federation the provisions of the Code of Criminal Procedures of the Russian Federation stating that the real evidence that cannot be stored in the file of the criminal case, including consignments of goods, are handed over for sale on the basis of the order of the investigator or judge.

Decision of the Constitutional Court of the Russian Federation No. 10-P of July 18, 2008 on the Case of Constitutionality of the Provisions of Paragraph 14 of Article 3 and Item 3 of Article 10 of the Federal Law on the Protection of Rights of Legal Entities and Independent Entrepreneurs in the Course of State Control (Enforcement) Measures Pursuant to the Appeal of Citizen V.V.Mikhaylov

The interconnected provisions of Paragraph 14 of Article 3 and Item 3 of Article 10 of the Federal Law on the protection of rights of legal entities and independent entrepreneurs in the course of state control (enforcement) measures are recognised as not complying with the Constitution of the Russian Federation where they pertain to the opportunities of collection from independent entrepreneurs at the demand of the state control (enforcement) body of expenses for the tests and expert evaluations having revealed the violations of obligatory requirements.

Decision of the Government of the Russian Federation No. 563 of July 26, 2008 on the Interim Rates of Import Customs Duties for Individual Types of Civil Airplanes

Prolongs for 9 months a reduced rate of the import customs duty in the amount of 20% of the customs cost for civil airplanes with the number of seats from 19 to 200.

Decision of the Government of the Russian Federation No. 550 of July 21, 2008 on the Endorsement of the Rules of Reimbursement of the Execution Fee to the Debtor

Introduces a procedure of reimbursement of the execution fee to the debtor.

Decision of the Government of the Russian Federation No. 549 of July 21, 2008 on the Procedure for Gas Supplies for the Housing and Communal Needs of Citizens

Endorses the rules of supply of gas for the housing and communal needs of citizens.

Decision of the Government of the Russian Federation No. 562 of July 26, 2008 on the Amendments to Some Decisions of the Government of the Russian Federation on the Issues of State Registration of Motor Vehicles and Trailers to Them

Transport vehicles with a maximum electric motor power rating more than 4 kW require certificates.

Order of the Federal Service of Enforcement of in the Sphere of Public Health and Social Development No. 5000-Pr/08 of June 30, 2008 on the Amendments to the Order of the Federal Service of Enforcement of in the Sphere of Public Health and Social Development No. 3310-Pr/07 of October 22, 2007 on the Endorsement of the Documents Used by the Federal Service of Enforcement of in the Sphere of Public Health and Social Development in the Course of Licensing of Activities of Technical Maintenance of Medical Equipment (Other Than When These Activities Are Carried out for the Own Needs of the Legal Entity or Independent Entrepreneur)

Specifies the necessary forms of documents.

Order of the Federal Service of Enforcement of in the Sphere of Public Health and Social Development No. 5001-Pr/08 of June 30, 2008 on the Amendments to the Order of the Federal Service of Enforcement of in the Sphere of Public Health and Social Development No. 3311-Pr/07 of October 22, 2007 on the Endorsement of the Forms of Documents Used by the Federal Service of Enforcement of in the Sphere of Public Health and Social Development in the Course of Licensing of Activities of Production of Medical Equipment

Extends the list of documents used in the course of licensing of this type of activities.

Decision of the Government of the Russian Federation No. 572 of July 28, 2008 on the Amendments to the Decision of the Government of the Russian Federation No. 738 of December 3, 2004

The rights of the stock-holder of the open-type joint-stock companies owned by the Russian Federation shall be implemented on behalf of the Russian Federation by the Federal Agency for State Property Management.

Decision of the Government of the Russian Federation No. 569 of July 28, 2008 on the Endorsement of the Rules of Coordination of the Location of Economic and Other Objects, As Well As Introduction of New Technological Processes, Affecting the Condition of Aquatic Biological Resources and Their Environment

In the course of deployment, construction and putting in operation of economic and other objects, as well as introduction of new technological processes, one must take into account their impact on the condition of aquatic bioresources and their environment.

Direction of the Central Bank of Russia No. 2043-U of July 15, 2008 on the Amendments to the Instruction of the Bank of Russia No. 109-I of January 14, 2004 on the Procedure for the Bank of Russia to Take the Decision on the State Registration of Credit Organisations and Issue Licenses for Bank Operations

The new procedure abandons dividing the banks into financially stable and problem ones and introduces 5 qualification groups.

Direction of the Central Bank of Russia No. 2044-U of July 15, 2008 on the Amendments to the Regulation of the Bank of Russia No. 230-P of June 4, 2003 on the Reorganisation of Credit Organisations in the Form of a Merger and Incorporation

Amends the Regulation of the Bank of Russia specifying the particulars of reorganisation of credit organisations in the form of a merger and incorporation.

Direction of the Central Bank of Russia No. 2045-U of July 15, 2008 on the Amendments to the Regulation of the Bank of Russia No. 271-P of June 9, 2005 on the Processing of Documents Submitted to the Territorial Institution of the Bank of Russia to Take the Decision on the State Registration of Credit Organisations, Issue Licenses for Bank Operations and Keep the Databases of Credit Organisations and Their Divisions

The amendments are stipulated by the introduction of the new procedure of assessment of the economic standing of banks.

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