Legislation overviews

ANNOUNCEMENTS

01.10.2009
The Conference “Real Estate Market 2009-2010: Management, Optimization, Sales”
The conference will be held in the Central House of Artists (10, Krymsky Val, Moscow), within the 4th Russian Forum of Real Estate Market Leaders RREF-2009. For details, see Supplement to this overview and www.mref.ru

EVENTS OF THE WEEK

Non-conventional deals
The Federal Financial Monitoring Service issued Order No. 103 of 8 May 2009 “On Approving the Recommendations on Developing the Criteria of Determining Non-Conventional Deals”.

Audit of small business
The Federal Tax Service has posted on its website Ruling of the RF Government “On Approving the Rules of Accreditation for Citizens and Organizations Engaged by State Control Authorities and Municipal Control Authorities for Conducting of Audit Inspections”. The Ruling will come into force seven days after its first official publication in Rossiyskaya Gazeta or the Corpus of legislative acts of the Russian Federation.

The procedure for determination of boundaries of land management units approved
In accordance with the approved Rules (Resolution of the RF Government No. 688 of 20 August 2009 “On Approving the Rules of Determination of Boundaries of Land Management Units”), the determination of boundaries of land management units (delimitation on the ground) should follow the characteristic coordinates of such boundaries which are described in the State Immovable Property Cadastre.

The possibilites of use of land plots in federal ownership extended
In accordance with Resolution of the RF Government No. 665 of 19 August 2009 “On Amending the Resolution of the RF Government No. 234 of 3 April 2008”, executive authorities received the right to approve deals on leasing federally owned immovable property.

Tax base for calculation of income tax corrected
The Federal Tax Service has explained the procedure of correcting the tax base for the calculation of income tax and property tax for organizations in case when a taxpayer changed the period of beneficial use of an item of fixed assets (Letter of Russian Federal Tax Service No. 3-2-09/150 of 27 July 2009 “On Application of Certain Provisions of the RF Tax Code”).


DRAFT BILLS

Presumption of guilt
The Federal Financial Markets Service has prepared draft bill strengthening management responsibility for damage caused to the company or its shareholders.

Tax rise
The Ministry of Finance posted on its website draft Federal Law “On Amending Chapters 22 and 28 of Part Two of the RF Tax Code.”

Transparent accountancy
The Ministry of Finance posted on its website draft Federal Law “On Accountancy”. The amendments were called forth by a need of greater transparency of financial records and bringing them closer to international standards.

Currency control
The Ministry of Finance posted on its website draft Ruling of the RF Government “On Amending the Ruling of the RF Government No. 166 of 24 February 2009 “On Procedure of Providing by Currency Control Authorities and Agents to the Currency Control Body Authorized by the RF Government of Documents and Data Necessary for Its Exercising Its Functions”.

State Duma to strengthen protection of bond holders rights
In autumn, the State Duma plans to consider in the second reading draft Federal Law “On Amending Federal Law On Securities Market (with regard to creating legal mechanisms protecting bond holders’ rights)”.

The complete version of the review is provided in the Russian language only. If you have any questions regarding the novels of the legislation, please contact any of our offices.

 

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