VAT may be refunded sooner if there is a dispute with a tax authority concerning the refund Pepeliaev Group advises that VAT may be refunded within a shorter period if there is a dispute with a tax authority.

A number of federal laws regulating labour and employment relations were adopted Pepeliaev Group advises that a number of federal laws regulating labour and employment relations were adopted on 1 July 2010.

Russian Supreme Court Consolidates the Practice of Applying the RF Law “On the Mass Media” Pepeliaev Group advises that the Plenum of the Russian Supreme Court issued Resolution No. 16 dated 15 June 2010 “On Application of the RF Law “On the Mass Media” by Courts”.

Plenum of the Russian Supreme Court Clarifies the Procedure for Applying Restrictive Measures in the Form of Pretrial Detention of Individuals Suspected or Accused of Economic Crimes The Plenum of the Russian Supreme Court adopted on 10 June 2010 Resolution No. 15 “On Amendments to Resolution No. 22 of the Plenum of the Russian Supreme Court dated 29 October 2009 ‘On the Judicial Practice of Applying Restrictive Measures in the Form of Pretrial Detention, Bail and House Arrest’”.

A number of positive changes in the court practice with regard to the submission of Russian currency (RUB) transfer receipts for several currency operations during one month

Pepeliaev Group hereby announces a number of positive changes in the court practice with regard to the submission of Russian currency (RUB) transfer receipts for several currency operations during one month: the receipt may reflect several operations of the transfer of funds to the bank account. If there were several currency transfer operations in a month, the resident may be held liable for the failure to submit a receipt only once, rather than several times for each operation.

Protection of Title and Other Rights in Rem The Joint Plenum of the Russian Supreme Arbitration Court and of the Russian Superior Court has determined the practice for applying legislation on certain issues relating to the protection of title and other rights in rem.

New Resolution of the RF Supreme Arbitration Court on the VAT Rate Applicable to the Export of Technical Documentation Pepeliaev Group advises that Resolution No.17933/09 of the Presidium of the RF Supreme Arbitration Court dated 11 May 2010 has been posted on the court’s official website. The Resolution determines the practice of levying VAT on the export of maintenance and technical documentation in respect of aircraft engines and units and the application of corresponding deductions.

The Presidium of the Russian Supreme Arbitration Court clarified the legal nature of the buy-out payment in a lease agreement On 18 May 2010 the Presidium of the Russian Supreme Arbitration Court issued Resolution No. 1729/10 that clarifies the legal nature of the buy-out payment in a lease agreement, which stipulates that title to a leased item is transferred to the lessee on the expiry of the lease, and also explicitly specifies the procedure for determining the amount in cases where the buy-out value was not established by the parties to the lease agreement.

Broadcasting of mandatory public TV and radio channels: draft law adopted by the State Duma in the first reading Pepeliaev Group advises that on 2 June 2010 the Russian State Duma adopted in the first reading the draft Federal Law “On Amendments to Federal Law No. 126-FZ dated 7 July 2003 ‘On Telecommunications’” on the legal regulation of issues relating to the broadcasting of mandatory public TV and radio channels.

THE RISK OF CLAIMS FILED BY THE FEDERAL SERVICE FOR FINANCIAL AND BUDGETARY OVERSIGHT (ROSFINNADZOR) IN RESPECT OF LOANS BETWEEN RESIDENTS AND NON-RESIDENTS IS HIGHER IN CASES WHERE OBLIGATIONS ARE DISCHARGED IN NON-MONETARY FORM Pepeliaev Group hereby advises that there is a higher risk of claims on the part of Rosfinnadzor in respect of loans extended by residents to non-residents in cases where debtors fail to discharge their obligations in monetary form through the crediting of funds to the resident’s bank account at an authorised bank.

“On Amendments to Article 54 of the Federal Law ‘On Telecommunications’” On 28 May 2010 the Russian President rejected amendments to article 54 of Federal Law No. 126-FZ “On Telecommunications” dated 7 July 2003.

Simplyfied procedure for employing highly-skilled foreign professionals

Pepeliaev Group hereby informs that Federal Law No. 86-FZ “On Amendments to the Federal Law ‘On the Legal Status of Foreign Citizens in the Russian Federation’ and Specific Legislative Acts of the Russian Federation” was adopted on 19 May 2010. The Law introduces numerous amendments that enter into force from 1 July 2010, including a simplified procedure for employing certain categories of foreign professionals.