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 16.07.2008

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.

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