Monitoring of the Federal Legislation dated 1.12.2008

Decision of the Government of the Russian Federation No. 886 of November 26, 2008 on the Regions of the Continental Shelf of the Russian Federation and Exclusive Economic Zone of the Russian Federation Permitted for Coastal Fishing

Permits coastal fishing on the continental shelf and in the exclusive economic zone of the Black and Baltic seas.

Decision of the Government of the Russian Federation No. 872 of November 20, 2008 on the Endorsement of the Rules of Control in the Points of Transfer through the State Border of the Russian Federation

Specifies the control procedure in the points of transfer through the state border for persons, transport vehicles, cargo, goods and animals. The procedure does not apply to commodities moved by natural persons for the needs other than those pertaining to entrepreneurial activities.

Order of the Ministry of the Industry and Trade of the Russian Federation No. 173 of October 1, 2008 on the Endorsement of the Norms of Natural Loss in the Cases of Storage of Wood and Products of Its Processing

Endorses the norms of natural loss of various types of wood in various operations.

Order of the Ministry of Finance of the Russian Federation No. 116n of November 24, 2008 on the Endorsement of the Accounting Regulation PBU 2/2008 "Registration of Construction Contracts"

Specifies the procedure of registration in accounting work of incomes, expenses and financial results of organisations acting as contractors in construction contracts.

Order of the Ministry of Finance of the Russian Federation No. 114n of November 20, 2008 on the Amendments to the Order of the Ministry of Finance of the Russian Federation No. 51n of June 11, 2002

Specifies the particulars of generation of insurance reserves by mutual insurance companies.

Letter of the Ministry of Finance of the Russian Federation No. 03-00-08/40 of November 27, 2008

Taxpayers calculating advance payments for the profit tax as a result of the tax period and making monthly payments during the reporting period may change the procedure of calculation of advance payments due in the IV quarter of 2008.

Direction of the Central Bank of Russia No. 2135-U of November 28, 2008 on the Amount of the Rate of Refinancing of the Bank of Russia

From December 1, 2008, increases once again the rate of refinancing of the Bank of Russia - from 12% to 13% annual.