A recent letter clarifies that the tax on acquisition of transport vehicles is not payable by lessees of transport vehicles under rental agreements (as opposed to financial leases "). However, if the agreement envisages that the transport vehicle may be purchased by the lessee, the tax should be paid at the moment when the purchase is made.
Letter of the Moscow State Tax Inspectorate of 1 April 1997 11-13/6756 "On the tax on acquisition of transport vehicles"
ROAD USERS' TAX / MOSCOW RATES
The Law of the City of Moscow introduced new rates of road fund taxes, as follows:
2.5% of the total turnover (for producing companies);
0.15% of the turnover (for trading companies).
The rates of the tax on transport vehicles owners were also increased. The Law came into force on 1 May 1997, but the status with respect to the Law on federal budget is unclear.
Law of the City of Moscow 6 of 19 March 1997 "On rates of the taxes transferred to the road funds"
Guidelines governing how contracts signed prior to the revocation of the VAT "technological equipment" exemption should be registered with Customs have been issued. Contracts concluded before 30 April 1997 under which technological equipment will be imported VAT-exempt prior to 31 December 1997 will need to be registered with the Customs authorities before 18 June 1997. A copy of the guidelines may be obtained from Alla Shaulina of our tax department.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
For further information contact Alla Shaulina on tel: +7 503 232 5511 fax: +7 503 232 5522 or e-mail directly: Alla_Shaulina@ru.coopers.com or enter a text search 'Coopers & Lybrand' and 'Business Monitor'.
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