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 15.06.2011

Federal Law No. 135-FZ of June 14, 2011 on Abolishing the Lomonosov District Court of the Federal-Significance City of St. Petersburg

Brings the city's judicial system in line with the legislation.

Federal Law. No. 134-FZ of June 14, 2011 on Abolishing Some District Courts of Perm Kray

Abolishes five small-staff district courts for the purpose of streamlining the general jurisdiction court system in that region.

Decision of the Government of the Russian Federation No. 462 of June 10, 2011 on Endorsing the Rules for Determining the Coefficient Kt to Compute the Maximum Deductible Amount for the Purposes of the Mining Tax on Coal

According to the decision occupational safety and health expenses qualify as deductible in the taxation of coal mining or in the taxation of profit. The procedure and paperwork required for businesses to apply for the deductible are described.

Decision of the Government of the Russian Federation No. 460 of June 10, 2011 on Cap on the Cost of One Square Metre of Total Area of Dwelling Premises at the Acquisition (Construction) Thereof for Federal State Needs

The cap of 30,000 roubles per square metre is set for cases when dwelling premises are acquired for federal state needs. A system for computing the cap in the future is defined as taking into account the market value of living quarters. The cap may be exceeded by a decision of the Government of the Russian Federation.

Decision of the Government of the Russian Federation No. 455 of June 10, 2011 on Endorsing a List of the Types of Expenses Relating to Occupational Safety and Health in Coal Mining Accepted as Deductible for the Purposes of the Mining Tax

Concerning the amendments to the Tax Code, effective from April 1, 2011, related to the mining tax on coal, the decision defines which expenses may qualify as deductible. Such expenses will be recorded separately from the other costs relating to the development of subsoil tracts and be recognised according to the policies for taxation purposes that can be changed once in five or more years.

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