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ORDER OF THE GOVERNMENT OF THE RUSSIAN FEDERATION

of July 23, 1996 No. 883

About privileges on payment of import customs duty and value added tax concerning the goods imported by foreign investors as contribution to the authorized (share) capital of the companies with foreign investments

For the purpose of stimulation of attraction to the Russian Federation foreign investments, in connection with enforcement of the Civil code of the Russian Federation (The Russian Federation Code, 1994, N 32, Art. 3301; 1996, N 5, Art. 410; Art. N 9, 773), the Federal Law "About State Regulation of Foreign Trade Activity" (The Russian Federation Code, 1995, N 42, the Art. 3923) and based on articles 34 and 37 of the Law of the Russian Federation "About customs tariff" (Sheets of the Congress of People's Deputies of the Russian Federation and the Supreme Council of the Russian Federation, 1993, N 23, Art. 821; Russian Federation Code, 1995, N 32, Art. 3204; N 48, of Art. 4567; N 1, the Art. 4) the Government of the Russian Federation decides 1996,:

1. Determine that the goods imported on customs area of the Russian Federation as contribution of the foreign founder to the authorized (share) capital are exempted from taxation by customs duties provided that goods:

are not excisable;

treat the fixed business assets;

are imported into the terms established by constituent documents for forming of the authorized (share) capital.

2. Determine that in case of sales of goods, provided in Item 1 of this resolution, payable for date of conditional release customs duties are paid according to the customs legislation of the Russian Federation.

3. To provide to the Ministry of Finance of the Russian Federation, the State Tax Administration of the Russian Federation, the Ministry of Economics of the Russian Federation and the State Customs Committee of the Russian Federation to the Government of the Russian Federation offers on entering into the tax legislation of the Russian Federation of the changes and amendments providing that privileges on the tax discharge for value added concerning the goods imported by foreign investors as contribution to the authorized (share) capital of the companies with foreign investments are established only concerning the goods relating to the fixed business assets in a month.

 

Prime Minister

Russian Federation

V. Chernomyrdin

 

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