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2010 BALTIC REGIONAL LEGAL NEWS LETTER

Bankruptcy

Federal Law No. 65-FZ dated April 22, 2010 entitled “On amendments to the Federal Law “On organization of the insurance business in the Russian Federation” and particular legislative acts of the Russian Federation”.

The Law amends articles concerning the bankruptcy procedures of financial companies and stipulates the terms of preventive measures in order to avoid the bankruptcy.

“The Russian Gazette”, No. 89 dated April 27, 2010.


Labor law

Federal Law No. 343-FZ dated December 8, 2010 entitled “On Amendments to the Federal Law entitled “On Obligatory Social Security in case of temporary disability and maternity”.

The Law sets forth multiple amendments to the system of payments for temporary disability.

“The Russian Gazette”, No. 281 dated December 13, 2010.


Land law

Federal Law No. 167-FZ dated July 22, 2010 entitled “On Amendments to the Federal Law enti-tled “On estimation activities in the Russian Federation” and particular legislative acts of the Russian Federation”.

The Law adds a Chapter governing the state cadastral valuation of real estate to the Federal Law entitled on “On estimation activities in the Russian Federation”

Also the Law amends the Land Code of the Russian Federation and the Federal law entitled “On the personal property tax”

“The Russian Gazette”, No. 163 dated July 26, 2010.


Taxation

Letter of the Department of the Russian Federation No. SHS-22-3/86 dated February 2, 2010 entitled “Concerning the application of Value Added Tax for the provision of services for the rental of real estate"

The Tax Department of the Russian Federation clarified the procedure of calculating the Value Added Tax on the amounts of the rent, including the fixed and variable parts.

“The Financial Gazette”, No. 10 dated March 4, 2010.


Letter of the Department of the Russian Federation No. 3-3-05/128 dated February 8, 2010 enti-tled “On the Corporate Property Tax”

The official letter stipulates that the Companies are not required to fill the tax reports in case of the property absence. In case if the basic (capital) assets are not taken off from the balance, these assets are considered to be the subject to taxation.


The Newsletter of the Presidium of the Supreme Arbitration Court of the Russian Federation No. 139 dated May 11, 2010 "On Amendments to the newsletters of the Presidium of the Supreme Arbitration Court”

The Presidium of the Supreme Arbitration Court of the Russia Federation clarifies the procedures of the State and Court Fee payments.

“The Supreme Arbitration Court Gazette”, No.7, July, 2010.


Capital markets

Federal Law No. 224-FZ dated July 27, 2010 "On Countering of the illegal use of insider infor-mation and market manipulation, and on amending particular legislative acts of the Russian Federation"

The Federal Law stipulates the list of persons who are considered to be the owners of the insider information, stipulates the list of activities which are considered to be manipulative, and the measures of countering.

“The Russian Gazette”, No. 168 dated July 30, 2010.


Licensing

The Federal Law No.269-FZ dated October 4, 2010 entitled “On amendments to the Federal Law "On Licensing Certain Types of Activities".

The Federal Law tightens licensing requirements for manufacturers of audiovisual material (videos), computer programs and databases for all types of media.

“The Russian Gazette”, No. 225 dated October 6, 2010.


Russian Bilateral International Agreements

Kazakhstan

The International Agreement between the Russian Federation and the Republic of Kazakhstan on the application of the international agreements in the procedure of 
the Customs Union organization”

The Agreement signed in Saint Petersburg on May 28, 2010.

“The Russian Gazette”, No. 142 dated July 1, 2010.

Japan

Federal Law No. 273-FZ dated October 16, 2010 entitled “On Ratification of the Agreement be-tween the Russian Federation and Japan on mutual legal assistance in criminal matters”.

The Law ratifies the Agreement signed in Tokyo on May 12, 2009.

“The Russian Gazette”, No. 237 dated October 20, 2010.


Russian Multilateral International Agreements

Federal Law No. 114-FZ dated June 2, 2010 entitled “On Ratification of the Agreement on the Customs Code of the Customs Union”

The Law ratifies the he Agreement “On the Customs Code of the Customs Union” signed in Minsk on November 27, 2009.

“The Russian Gazette”, No. 121 dated June 4, 2010.


Federal Law No. 230-FZ dated July 27, 2010 entitled “On Ratification of the Agreement on the establishment and application of the terms of placement and allocation of the import duties (other duties, taxes and charges with similar effect) in the Customs Union.

The Law ratifies the Agreement signed in Saint Petersburg on May 20, 2010.

“The Russian Gazette”, No. 169 dated August 2, 2010.


Federal Law No. 366-FZ dated December 23, 2010 entitled “On Ratification of the Agreement on the Collective Rapid Reaction Force of the Organization of Collective Security Agreement”.

The Law ratifies the Agreement signed in Moscow on June 14, 2009.

“The Russian Gazette”, No. 293 dated December 27, 2010.