TAX NEWS - 2010

Russian Federation Tax News

Procedure for keeping a register of mutual investment funds and granting statements from it

The order approves the regulations of the procedure for keeping a register of mutual investment funds and granting statements from it.
Federal Service for Financial Markets Order No. 10-17/pz-n of 18 March 2010


Clarifications on compulsory insurance covering temporary disability and maternity for the heads of organizations

Clarifications have been approved regarding compulsory insurance (as part of compulsory social insurance) covering temporary disability and maternity for the heads of organizations who are their only founders/participants, members of an organization and the owners of its property.
RF Ministry for Healthcare and Social Development Order No. 428n of 8 June 2010


Compulsory insurance of a hazardous facilities owner's civil liability for harm caused due to an accident

The RF Government reportedly supports the draft Federal Law "On the compulsory insurance of a hazardous facilities owner's civil liability for harm caused due to an accident" (see our report of 07/08/2010). It is assumed that the law will come into effect on 1 July 2011 with regard to private hazardous facilities and on 1 January 2013 for state-owned ones.


Formalizing illness certificates

Due to Federal Law No. 255-FZ of 29 December 2006 "On compulsory social insurance to cover temporary disability and maternity (in the edition of Federal Law No. 213-FZ of 24 July 2009) having come into effect on 1 January 2010, the issues of formalizing illness certificates in compliance with the new regulations of the law in question have been clarified.
Russian Federation Ministry of Healthcare and Social Development and Russian Federation Social Insurance Fund No. 14-6/10/2-4208 and No. 02-03-09/08-1132 respectively, dated 21 May 2010


Accounting for expenses related to buying fuel for company vehicles

If the methodical recommendations brought into effect by Russian Federation Ministry of Transport Ruling No. AM-23r of 14 March 2008 do not contain standards for fuel consumption regarding certain makes of company vehicles, a taxpayer may submit an application to a special organization in order to develop such standards. Until the order approving the standards developed by a special organization is accepted by the company, a taxpayer may follow the relevant technical documentation and/or information provided by the vehicle producer.
Russian Federation Ministry of Finance Letter No. 03-03-06/4/61 of 22 June 2010


Carry-forward of losses upon reorganizing a company by means of separation

When reorganizing a company by means of separation, the company being reorganized does not suspend its activities and therefore its losses cannot be carried forward by the subsequently separate organizations following the procedure established by Article 283 of the Russian Federation Tax Code.
Russian Federation Ministry of Finance Letter No. 03-03-06/1/428 of 24 June 2010


Paying taxes and duties at POS terminals

The Russian Federation Tax Code does not provide for paying taxes, duties, fines and penalties regulated by the Russian Federation Tax Code at POS terminals.
Russian Federation Ministry of Finance Letter No. 03-02-07/1-287 of 21 June 2010


Right to the recovery of previously restored VAT sums
The Russian Federation Tax Code does not imply accepting for recovery previously reversed VAT in the event of further use of goods (work, services) for performing VATable operations.
Russian Federation Ministry of Finance Letter No. 03-07-11/265 of 23 June 2010


Microfinancial activities and microfinancial organizations

Federal Law No. 151-FZ of 2 July 2010 "On microfinancial activities and microfinancial organizations" has been published. The law comes into effect 180 days after its official publication.


List of strategically important types of medicine whose production must be ensured in the RF

Russian Federation Government Ruling No. 1141-r of 6 July "On approving the list of strategically important types of medicine whose production must be ensured within the Russian Federation for treating the most wide-spread diseases" has been officially published.