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 8.11.2010

Federal Constitutional Law No. 7-FKZ of November 3, 2010 on the Amendments to the Federal Constitutional Law on the Constitutional Court of the Russian Federation

The amendments improve the work of the Constitutional Court of the Russian Federation citizens now may appeal against laws applied in the particular case.

Federal Law No. 292-FZ of November 3, 2010 on the Amendments to Article 84.2 of the Federal Law on Joint-Stock Companies

The party having acquired more than 30% of the total amount of ordinary and preference stocks of the open-type joint-stock company permitting to vote must send an official offer to buy out the rest of the stocks and securities. The law extends the list of cases providing an exemption from this rule.

Federal Law No. 291-FZ of November 3, 2010 on the Amendments to the Federal Law on the Central Bank of the Russian Federation (Bank of Russia) and Individual Legislative Acts of the Russian Federation

The amendments are stipulated by Russias participation in the International Monetary Fund, they refine distribution of functions between the Ministry of Finance of Russia and the Central Bank of Russia.

Federal Law No. 290-FZ of November 3, 2010 on the Amendments to the Federal Law on the Placing of Orders for Supplies of Goods, Carrying out Works Rendering Services for the State and Municipal Needs

Adjusts the law on the placing of orders for the state and municipal needs.

Federal Law No. 288-FZ of November 3, 2010 on the Amendments to the Federal Law on the Highways and Highway Activities in the Russian Federation and on the Amendments to Individual Legislative Acts of the Russian Federation

The bodies of state power of the Russian Federation can make public-use highways of federal significance to be paid ones.

Federal Law No. 287-FZ of November 3, 2010 on the Amendments to Articles 76 and 86 of Part 1 of the Tax Code of the Russian Federation

Revises the deadlines for the banks to report to tax bodies information on taxpayer accounts.

Federal Law No. 285-FZ of November 3, 2010 on the Amendments to Article 165 of Part 2 of the Tax Code of the Russian Federation and Article 45 of the Federal Law on the Fundamentals of State Regulation of Foreign-Trade Activities

The amendments pertain to application of the zero VAT rate in the cases of export of goods under foreign-trade barter transactions.

Federal Law No. 283-FZ of November 3, 2010 on the Ratification of the Agreement on Some Issues of Securing of Payment of Custom Duties, Taxes for the Goods Carried under the Custom Transit Customs Procedure, Particulars of Collection of Customs Duties, Taxes and the Procedure of Transfer of Collected Amounts for Such Goods

The agreement specifies the procedure of submission of documents confirming acceptance of security of payment of custom duties and taxes.

Federal Law No. 282-FZ of November 3, 2010 on the Ratification to the Agreement between the Government of the Russian Federation and the Government of the Republic of Kazakhstan on the Cooperation in the Area of Joint Control at the Russian-Kazakhstani State Border

The goal of the agreement is reduction of formalities and the length of control measures in the points of transfer.

Federal Law No. 281-FZ of November 3, 2010 on the Amendments to Article 9 of the Federal Law on the State Regulation of Activities of Organisation and Carrying out of Games of Chance and on the Amendments to Some Legislative Acts of the Russian Federation

The Rostov Province is excluded from the list of regions permitted to create gambling zones.

Federal Law No. 279-FZ of November 3, 2010 on the Accession of the Russian Federation to the International Convention on the Simplification and Harmonization of Customs Procedures of May 18, 1973 in the Wording of the Protocol on the Amendments to the International Convention on the Simplification and Harmonization of Customs Procedures of June 26, 1999

Russia joints the above convention.

Decision of the Government of the Russian Federation No. 870 of October 29, 2010 on the Endorsement of the Technical Regulation on the Safety of Gas Distribution and Gas Consumption Networks

Introduces the safety requirements to the gas distribution and gas consumption networks and related processes.

Information Letter of the Presidium of the Higher Arbitration Court of the Russian Federation No. 141 of October 20, 2010 on Some Issues of Application of Provisions of Article 319 of the Civil Code of the Russian Federation

Explains the issues of priority of redemption of claims in the cases of monetary obligation.

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