Monitoring of the Federal Legislation dated 11.07.2008

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.