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 29.06.2012

The Budget Message of President of the Russian Federation V.Putin of June 28, 2012 on Budget Policies in 2013-2015

In his budget message for 2013-2015 President Putin highlighted seven problems. First, there is a significant oil and gas deficit. Second, the structure of budget expenditures is not best suited to provide incentives for economic development. It manifests itself in the deficiency of funding for infrastructure, education and science projects. Third, a low level of the financial and economic feasibility studies underlying the decisions that lead to new expenditure undertakings. Fourth, frequently the effectiveness of budget spending is low and the socioeconomic effects thereof are incommensurate to the amount of funds spent. Fifth, inter-budget relationships are not fully tuned to encourage regional and local authorities to foster favourable conditions for entrepreneurial and investment activities, and dependence on financial aid from other budgets is high. Sixth, the budget policy is unclear for the public as the need for and the essence of authorities' decisions and actions are not properly disclosed. Seventh, permanent segmentary modifications of the tax legislation. Continuous anticipation of such amendments hinders the implementation of long-term investment projects.
The objective of the budget policy for 2013 and for the mid-term period is a cardinal enhancement of the quality of strategic governance in economy and public finance. To achieve it ten basic goals shall be pursued. First, the budget policy is to become a more effective tool of implementing the socioeconomic policy of the state. Second, the budget is to be administered on the basis of state programmes. Third, the mechanisms of implementation of and the supply of resources for the state programmes and the alignment thereof with the long-term goals of socioeconomic policy of the state. Fourth, the quality of municipal and state services provided to the public is to be enhanced. Fifth, macroeconomic stability and budget sustainability are to be ensured. Sixth, parameters are to be set for further development of the pension system to cater for demographic changes in the structure of the population. Seventh, the taxation system is to be adjusted to improve the quality of investment climate, boost entrepreneurial activities, improve the structure of the economy and rise its competitiveness. Eighth, a new phase of development of inter-budget relationships is to be implemented as broadening the self-sustainability and accountability of the regions. Ninth, Russia's government is to ensure Russia's permanent access to debt markets on acceptable terms, cut the cost of borrowing and expenses towards debt liabilities, get additional income from the management of the Reserve Fund and the National Wealth Fund. Tenth, the transparency and openness of the budget and budget process for the public is to be ensured.

Decision of the Government of the Russian Federation No. 642 of June 26, 2012 on the Federal Executive Governmental Bodies Authorised to Keep an Official Internet Website when Goods, Works and Services Are Purchased by Some Types of Legal Entities

Information on the purchase of goods, works and services by certain types of legal entities is to be placed on the official internet website at the following address: www.zakupki.gov.ru. Responsibility for keeping this website is vested in the Ministry of Economic Development of the Russian Federation and the Federal Treasury.

Decision of the Government of the Russian Federation No. 635 of June 25, 2012 on Amending and Deeming as No Longer Effective Some Acts of the Government of the Russian Federation on Issues of Licensing Some Types of Activity

Acts of Russia's government are brought in line with the Law on Licensing Some Types of Activity. This concerns expedient measures for preventing counterfeiting in respect of the securities forms used in Russia. Earlier such measures were intended for the legal entities being holders of licences for making securities forms. Now they are of importance for the organisations holding licences for making and selling counterfeit-proof printed matter.
Also water supply matters are clarified.
Among the acts deemed no longer effective there are regulations on licensing building activities (1996), electricity sale to the public (2005) and the manufacturing and repair of metering devices (2006).

Decision of the Government of the Russian Federation No. 631 of June 25, 2012 on Amending the Regulations on the Federal Antimonopoly Service

The powers of the Federal Antimonopoly Service are broadened to be in line with the Law on the Purchase of Goods, Works and Services by Some Types of Legal Entities.
Thus, the service now endorses the procedure for determining the aggregate stake of Russia, a region, a municipal formation and a legal entity in the charter capitals of business associations. Also it elaborates the procedure for notifying customers of a change in the aggregate stake in the charter capital of business associations. Approval is such cases has to be sought from the Ministry of Economic Development of the Russian Federation.
According to clarifications the Federal Antimonopoly Service is responsible for keeping the registers of mala fide suppliers envisaged by the Law on the Purchase of Goods, Works and Services by Some Types of Legal Entities and the Law on the Placement of Orders for Delivery of Goods, Performance of Works and Provision of Services for State and Municipal Needs.

Order of the Ministry of Regional Development of the Russian Federation No. 220 of June 1, 2012 on Amending the Methodology of Assessing the Cost of Building Products on the Territory of the Russian Federation

Inter alia the method of calculating a contingency reserve for unforeseen works and costs is updated. The amount of the reserve shall not exceed 2% for non-industrial major construction sites, 3% for industrial ones and 10% for unique major construction sites as well as atomic power plants, space-flight infrastructure, Class 1 hydraulic engineering structures and metro.

Information of the Ministry of Telecom and Mass Communications of the Russian Federation of June 27, 2012 "The Territories Joined with Moscow Shift to Code "495"

Updated dialling rules are provided due to the change of the boundaries between the City of Moscow and Moscow Region, effective July 1, 2012. Phone codes are changed and new figures inserted in phone numbers on the territories so joined to Moscow. Phone operators are obliged to inform users accordingly. Transition period to the new system is from July 1 through September 1, 2012.

Information Message of the Federal Service on Alcohol Market Regulation of June 27, 2012 "For Alcohol Market Operators"

The Federal Service on Alcohol Market Regulation announced that declarations of retail sales of alcohol products and the output and sales of beer and beer beverages for Quarters I and II of 2012 are going to be accepted until September 1, 2012. Accordingly the organisations pursuing relevant types of activity have to undergo a registration procedure on a personal account of the service. Information is available from a hot line service and an official forum.

Information Message of the Federal Service on Alcohol Market Regulation of June 26, 2012 on a Statement for a SMR Note Concerning Ethyl Alcohol, Alcohol Products and Alcohol-Containing Products

The updated form of a statement relating to a SMR note for ethyl alcohol, alcohol products and alcohol-containing products endorsed by decision of Russia's government No. 422 of May 2, 2012 is applicable from May 22, 2012.
An exhibit explaining the completion of Sections A and B of the form is available on the official internet website of the Federal Service on Alcohol Market Regulation. If Sections A and B had been drawn up before May 22, 2012 they need not be re-made.

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