If the benefit of the temporary importation regime is extended in respect of a car, the customs authorities are allowed to require a deposit of the customs payments potentially due if there is a reason to suspect that the car will be sold or will not be used in accordance with the regime. Periodical customs payments (3% per month) must be made irrespective of whether or not a deposit has been paid. If a car, which is still registered abroad, (foreign licence plates) is imported by an individual under the temporary regime, the customs authorities may decide not to require the deposit.
Letter of the State Customs Committee of 8 October 1996 No. 01-15/17939
BARTER AGREEMENTS / CURRENCY CONTROL
For barter agreements, an order has been issued requiring that the value of incoming goods be matched with the value of outgoing goods under a specific agreement, in a way analogous to the import passport system .
Order of the State Customs Committee of 30 October 1996 No. 01-15/19349
PENSION FUND / LATE PAYMENT INTEREST
The Pension Fund has announced that in the third quarter of 1996 regional branches of the fund may still use the former late payment interest rate of 0.3% per day. As of 10 July 1996, the rate was set 1/300 of the Central Bank refinancing rate, but the Pension Fund is experiencing difficulties in implementing these changes in its calculation programs. Excess payments of interest will be settled in the fourth quarter of 1996.
Regulation of the Pension Fund of 20 September 1996 No. EV-16-11/6760-IN
DRAFT TREATIES / KAZAKHSTAN / ITALY
The Russian Government has approved the draft double tax treaty with Kazakhstan. It is expected that the effective date of entry into force will not be before 1 January 1998. A draft treaty with Italy with regard to co-operation in compliance with export and currency regulations and the prevention of money laundering has been published.
For further information contact Bauke van der Meer on tel: +7 503 232 5511 fax: +7 503 232 5522 or e-mail directly: Bauke_van_der_Meer@ru.coopers.com or enter a text search 'Coopers & Lybrand' and 'Business Monitor'
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