Amendments to the Russian Tax Code
Federal Law No. 77-FZ of May 16, 2007 on the Amendment to Article 372 of Part 2 of the Russian Tax Code provides for removal of controversies in the text of the Russian Tax Code pertaining to the authority to endorse the form of the tax declaration for the property tax from organisations.
The amendments introduced by Federal Law No. 76-FZ create incentives for deployment of production holdings on the Russian territory through exemption from taxation of dividends obtained by national organisations as a result of strategic investments in the capital of other organisations.
According to the forecasted dynamics of growth of the average prices for consumer goods and inflation for the years 2008, 2009 and 2010, the specific rates of excise duty taxes for excisable commodities shall be indexed (Federal Law No. 75-FZ of May 16, 2007 on the Amendments to Chapter 22 of Part 2 of the Russian Tax Code). An exception was made for excise duty rates for oil products (the amounts being preserved for the years 2008-2010), tobacco items, beer and light alcoholic drinks.