Thus, there is a regulatory base concerning definition of the liquidation cost of the property of the organizations that are liquidated, whose relevance is established by the RF Constitutional Court.
Since according to the RF Tax Code of the Russian Federation all the disputable issues are to be solved for the benefit of the taxpayers, for taxation purposes the cost of the property of the liquidated organization received by the taxpayer should be assumed at the level of liquidation cost, defined with the consideration for the Procedure on the estimation of the company’s net assets, whose development belongs to the authority of the RF Ministry of Finance and assignee organization, the RF Federal Security Commission.
13. According to the letter of the RF Ministry of Finance and from 25 June 2008 No 03-07-07/70 the issue on VAT application for computers and video display boards’ sale with the simultaneous transfer of the rights for software is explained. The RF Ministry of Finance clarified that the transfer of rights for the results of the intellectual activity (software) according to the license agreements is not subject to VAT irrespective of the way for the results of the intellectual activity transfer.
The VAT paid on purchase or import in the RF territory of the gods (works, services) used for the operations on the production and (or) sale of goods (works, services), that are not subject to VAT is accounted in the cost of the goods (works, services) purchase.
In this connection VAT sums, declared by the suppliers of the material mediums, protection means etc, used when making operations on the rights for the software goods transfer, are taken into account by the customer as a cost of the material media and protection means and are not to be deduced.
This procedure is applied when distributing software by sale conducted by the licensee also on the basis of the sublicensing agreement.
14. According to the letter of the RF Ministry of Finance from 27 June 2008 No 03-03-06/1/373 the issue on accounting expenses connected with the goods with the expired keeping time utilization for the purposes of organizations’ income taxation is settled.
The RF Ministry of Finance clarified that when defining the incomes, documentary proved and economically grounded expenses are deduced from the profit. The expenses aimed at the profit earning are considered to be economically grounded. In case own earlier sold goods with the expired keeping date are rebought for utilization (write-off) the expenses for their purchase and further liquidation cannot be considered within the profit making from the entrepreneurial activity and consequently are not to be taken into account in the expenses for profit taxation.
15. According to the RF Government Decree from 28 June 2008 No 485 all the lists of the international organizations whose grants are not subject to taxation and are not taken into account for the taxation purposes in the incomes of the Russian organizations that receive such grants that were earlier in effect were cancelled and the new list of the international organizations whose grants are not subject to taxation and are not taken into account for the taxation purposes in the incomes of the Russian organizations was approved, the number of such organizations being 12 (including a number of organizations that are part of the UN system, Commission of the European Communities and some other international organizations).
16. According to the Federal Law from 30 June 2008 No 108-FZ changes were made to the Federal Law “On concessions” and to some legislative acts, including the RF Tax Code.
For instance, as to VAT the procedure for payments of the tax by the concessionaires is equaled to the payment of the tax by a standard cooperative agreement, agreement on trust management.
As to taxation of the incomes property or (and) property rights received by the concessionaires property rights obtained according to the concession agreement are excluded from the list of the incomes taken into account when forming the taxation base in concordance with the RF legislation. At the same time the cost of the property has been added to the amortization property (Note: that is the amortization of the fixed assets obtained according to the concession agreement calculated according to the rules of articles 258 and 259 of the RF tax Code is to be taken into account in the list of expenses decreasing the incomes). The initial cost of the property received according to the concession agreement object was defined as a market cost of such property defined for the moment of its receipt and increased by the sum of expenses for its fitting, reconstruction, modernization, technical re-equipment and making such property suitable for the use, excluding the sum of taxes that are to be deduced or that are accounted in accordance with the RF Tax Code.
Concession payment (payment made by the concessionaire to the concedent) is referred to as the expense that reduced taxation base for income tax.
The object for property taxation for the concessionaires that are the residents (Russian organizations and permanent representatives of foreign organization) is movable and immovable property, received by the concession agreement and for the concessionaires that are non-residents – immovable property.
JULY 17. According to the Decree of the RF Government from 5 July 2008 No 532 changes have been made to the Rules on submission of the accounts on capital flow across accounts (deposits) in the bank outside the Russian Federation for the residents that were approved by the Decree of the RF Government from 28 December 2005 No 819.
18. According to the letter of the RF Ministry of Finance from 11 July 2008 No ChD-6-6/488@ the issue on the application of the All-Russian classifier of types of economic activities for the taxation purposes is elucidated in connection with the adoption of the Order by the Federal Agency on Technical Regulation and Metrology from 22.11.2007 No 329-st "On adoption and coming into effect of the change 1/2007 OKVED (All-Russian classifier of types of economic activities) to the All-Russian classifier of types of economic activities OK 029-2001 (NACE code ver.1) (came into effect on 1 January 2008 for the period up to 1 January 2011 not canceling the All-Russian classifier of the kinds of economic activities OK 029-2001).
To get explanations concerning two versions of the All-Russian classifier of types of economic activities for the purposes of the government registration from the RF Ministry for Trade and Economic Development and the Federal State Statistics Service, the Federal Tax Service of Russia holds that it is possible to use only the All-Russian classifier of types of economic activities OK 029-2001 to implement its functions on the government registration of economic entities and individual entrepreneurs, which was put into effect by the Decree of the RF State Standard on 6 November 2001 No 454-st from 01.01.2003.
19. According to the Federal Law from 22 July 2008 No 158-FZ numerous changes were made to the chapters 21, 22, 23, 24, 25 and 26 of the RF Tax Code.
Technical amendments (references have been specified) are made to the chapter on VAT.
The taxation base for incomes tax levied on the natural persons regarding the incomes in the form of the material profit in the economy in interests was raised a bit (the level that is not subject to taxation was lowered from to 2/3 of the RF Central Bank rate). When calculating the taxation base for incomes in the form of interests, received on the natural persons’ deposits in banks, the established deduction at the sum of the RF Central Bank refinancing rate was increased by 5 p.p. The lists of preferences connected with the expenses of the natural persons for accommodation purchase has been enlarged. The expenses of the organizations, decreasing the taxation base for the incomes tax, paid by the organizations (individual entrepreneurs) to their employees to compensate for the expenses for loans (credits) interest payment to purchase (build) the accommodation will not be regarded as natural person’s incomes.
Social privileges for profit tax have also been widened considerably. The expenses for payment of contributions for voluntary personal insurance of the employees that envisage insurers’ payment of the health care expenses, which can be deduced during incomes taxation, have been increased from 3 to 6% of the Labor Remuneration Fund. It has been permitted to ascribe the sums that are paid by the organization or by the individual entrepreneur to the employees to compensate for the expenses for loans (credits) interests payment for purchase and (or) building of the accommodation to the expenses reducing the taxation base (at the rate of no more than 3% of the Labor Remuneration Fund). The coefficient of 1.5 has been introduced to account the taxpayers expenses for research and development work including those with no positive result according to the list established by the RF Government (article 262 of the RF Tax Code). The preference regarding deduction for organization’s employees training has been broadened (the preference is given for the training in the foreign educational institutions having the corresponding status in addition to the training in the Russian organizations having the license). It has been allowed to ascribe the sums of payments and bonuses made by the Board of Directors to the expenses reducing the taxation base. (Note: this regulation is quite disputable. The remunerations given by the Board of the Directors are not wages and are not regulated by the Labor Code of the Russian Federation. There is no single social tax calculated for these sums. The limiting standards for these expenses in the RF Tax Code are not stated. Theoretically they can be of any value. Normally such sums are strictly regulated and paid from the profit as a result of the organization’s operation, that is they do not belong to the expenses. The level of the maximum expenses for the conducting of the meetings of the Board of the Directors, shareholders’ meetings etc. is also strictly regulated. There is a real threat of spending away of the organization’s resources and flow of funds from the production sphere to the consumption sphere without their taxation, as well as non-taxed flow of funds out of Russia in the form of payments to the foreign members of the Board of the Directors.).
Principle changes also concern the procedure for amortization calculation. Stricter regulations for procedure and technical issues of amortization sum calculation both by linear and non-linear ways have been introduced. For the immovable property (buildings, constructions, transfer units) the necessity to object-byobject linear account is strictly postulated. (Note: the expediency of detailed additional regulation of the mechanism that has been in the operation for a long time may result in many slips and difficulties connected with the amortization calculation, since it contains the reference for the subordinate legislative act – the Decree of the RF Government). The amortization for some kinds of the objects being non-linear and (or) depending on the conditions under which they are used, it is allowed to apply step-up coefficient of 2 and 3.
As to the severance tax, the procedure for the mineral extracted definition has been specified. The application of privileged 0% tax rate to the oil produced in the Polar circle, on the continental shelf, in the regions of the Caspian and Azov seas, in the territory of the Nenetsk Autonomous Area and Yamal peninsula. The coefficient characterizing the world prices dynamics that is used to define tax value of 1 ton of oil has been lowered.
Other technical and editing changes are made to some articles and statements of the RF Tax Code.
20. According to the Federal Law from 22 July 2008 No 121-FZ changes were made to paragraph 1 article 218 of the RF Tax Code The level of the natural person’s income not levied with the tax has been increased from RUR 20 thousand to RUR 40 thousand for the standard tax deduction of RUR 400 to be applied.
The level of the natural person’s income not levied with the tax for 1 child has been increased from RUR 40 thousand to RUR 280 thousand. The level of the standard tax deduction was raised from RUR 600 to RUR 1000. The tax deduction for the single parent (guardian) is doubled.
21. According to the Federal Law from 22 July 2008 No 155-FZ changes were made to part 2 of the RF Tax Code concerning taxation of the agriculture goods producers by the single agriculture tax. Changes are primarily aimed at specification of the version and making structure of the procedure for this taxpayer, expenses definition etc more detailed The notion of the agriculture goods producer has been specified.
It was specified that in case the tax is paid on the basis of the patent when the individual entrepreneur is registered in the taxation body of one subject of the Russian Federation and the application for the patent granting is submitted to the tax body of the other subject of the Russian Federation, this individual entrepreneur must submit the application on registration at the latter tax body together with the application for the patent.
The list of the incomes and expenses that are regulated within the framework of the single agriculture tax has been enlarged. The list of the people that are not transferred for the single agriculture tax regime has been specified.
Corrections have been made to the table of physical indices, characterizing the kinds of the entrepreneurial activity and the sum of the single agriculture tax depending on the kind of the entrepreneurial activity as well as the basic profitability a month.
22. According to the Federal Law from 22 July 2008 No 135-FZ productive cattle, buffalos, oxen, yaks, deer and others are excluded from the list of the property not subject to the amortization.
23. According to the Federal Law from 22 July 2008 No 142-FZ changes were made to chapter 24.2 of the RF Tax Code, regulating excise payment issues.
For instance, the excise duty rates for alcohol goods, tobacco, car petrol and oils have been increased.
Bankruptcy Legislation: Some Trends of 2004–E. Apevalova The article deals with some important trends of the development of legislation on bankruptcy in 20042008. Special attention is paid to one of the last investigated issue – impact of the general policy of the direct government expansion in the economy on the legal institution, taking bankruptcy institution as a model.
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