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

Pension under protection
The Federal Financial Market Services has published an order which, inter alia, sets out new rules to determine the value of bonds invested in a shareholders or unit investment fund in the event the issuer defaulted on its obligation to pay the principal.

Simplified taxation system threshold
The Federal Tax Service published on its website Letter No. SHS-22-3/684 of 01 September 2009 “On Calculation of Income Threshold Restricting the Application of the Simplified Tax System in 2009”.

Security Agencies support the Federal Tax Service
The Ministry of Internal Affairs and Federal Tax Service approved the Regulations for coordinated work between internal affairs bodies and tax authorities with respect to organizing and conducting field tax inspections.

Water strategy
A new government instruction has approved water strategy of the Russian Federation until 2020.

ANNOUNCEMENT

Replacement of bank auditors
The Order of the RF Ministry of Finance No. 80n of 27 July 2009 “On Amending the Order of the RF Ministry of Finance No. 93n of 12 September 2002” will take effect from 1 November 2009.

DRAFT BILLS

Aid to poorly developed regions
Draft Bill No. 181650-5 “On Zones of Territorial Development in the Russian Federation and on Amendments to certain Legislative Acts of the Russian Federation” has been approved in first reading.

New Antimonopoly Rules
The Federal Antimonopoly Service has posted on its website Draft amendments to its Regulations.

Large-scale changes in the arbitration procedure
The Supreme Arbitration Court has proposed to the State Duma draft bill No. 211568-5 “On Amendments to the Arbitration Procedural Code of the Russian Federation”.

Is in-house audit worse than field audit?
In the course of its autumn session, the State Duma is expected to discuss draft bill No. 193871-5 “On Amending Articles 88 and 92 of Part One of the RF Tax Code” (with regards to expanding the powers of tax authorities in carrying out tax control measures)

Will re-insurers be supported?
During its autumn session, the State Duma will discuss draft bill No. 164661-5 “On Amendments to Article 19 of Federal Law On currency regulation and control” (with regards to releasing non-residents of the obligation to repatriate foreign currency proceeds from re-insurance service within the period set forth in foreign trade agreements).

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