Legislation overviews

ANNOUNCEMENTS

01.10.2009
COMMERCIAL PROPERTY CONFERENCE 2009-2010: MANAGEMENT, OPTIMIZATION, SALES. Central House of Art, Krymsky val 10, Moscow, held as part of “RREF-2009”, IV National Forum of Property Market Leaders. For details see Appendices to this overview and other information available at www.mref.ru.

EVENTS OF THE WEEK

Simplified taxation system threshold
The Federal Tax Service published on its website Letter No. SHS-22-3/672 of 31 August 2009 “On Application of the Provision of Federal Law No. 204-FZ dated 19 July 2009”.

DRAFT BILLS

Individual-borrower-bankrupt
The website of the Ministry for Economic Development has published draft Federal Law “On Rehabilitation Procedures Applied to Individual Debtors”.

Power vertical
The draft Resolution of the RF Government proposes to amend regulations for the distribution of powers between Federal government authorities in the area of state unitary enterprises management.

Protection of investors – bondholders
In the course of its autumn session, the State Duma will discuss potential amendments to the securities market legislation. Experts say that the need for changes has been obvious since the onset of the financial crisis and defaults of the autumn 2008.

The nature of bankruptcy of financial institution
The website of the Economic Development Ministry has published the government’s amendments to draft Federal Law 100311-5 “On Amendments to the RF Law On Organization of Insurance Business in the Russian Federation”.

Protection of equity holders: property developers filing for bankruptcy
Economic Development Ministry posted on its website the government’s amendments to draft Federal Law No. 98106-5 “On Amendments to Certain Legislative Acts of the Russian Federation aimed at Protection the Rights of Equity Holders of Shared Construction Projects”.

Bidding rules
Federal Antimonopoly Service posted on its website draft acts regulating the procedure for entering into lease agreements, gratuitous use agreements, trust management agreements and other agreements that provide for the transfer of right of possession and/or use of government or municipal property: rules for tendering or auctioning for contracts (“the Rules”) and the list of types of property that may be the subjects of a contract entered into by means of tender (“the List”).

Speed up VAT return
On 9 September 2009, a meeting of the Expert Council of the Chamber of Commerce and Industry of the RF will discuss the ways to improve tax legislation and its enforcement. The participants are expected to discuss draft Federal Law No. 223442-5 “On amendments to Part Two of the RF Tax Code in connection with the Introduction of the Application-based Value-Added Tax Recovery Procedure”.

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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