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 25.07.2008

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.

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