Articles by Filipp Sterkin



Transparency Bill Faces Resistance From State Firms

Not wishing to share information about themselves with minority shareholders and board members, four major companies have complained to Deputy Prime Minister Igor Sechin about a government bill prepared at the president's initiative.

Lisin Replaces Bogdanchikov for Olympics

Vladimir Lisin replaced Sergei Bogdanchikov as vice president of the country's Olympic Committee on Wednesday, in line with the committee's hopes that the wealthy Lisin will be able to raise the funds needed to restore the team to its former glory.

Revised State Forecast Finds $16Bln

The ruble will weaken, oil prices will go up, personal incomes will grow slowly and GDP will freeze Ч but more than 500 billion rubles ($16 billion) will be added to state revenues, according to an updated forecast from the Economic Development Ministry.

Ministries Debate 'Modernization' Tax

The Finance Ministry hopes to raise revenue by taxing new equipment, as well as stolen or lost goods, but the Economic Development Ministry fears that the changes could interfere with modernization efforts.

Campaign Planned to Boost MoscowТs Brand

The Economic Development Ministry has proposed a large-scale ad campaign to help turn Moscow into an international financial center, with a plan that includes work with Russian nationals abroad and more emphasis on "success stories."

Transport Tax to Stay, Fuel Excises to Rise

During a meeting chaired by Prime Minister Vladimir Putin on Sunday, it was decided that excise taxes on gasoline will rise by 1 ruble per year in 2011, 2012 and 2013, a source in the government administration and an official familiar with the results of the meeting told Vedomosti.

Developers to Get VAT Exemption

A law implemented in 2005 defined the rights of investors in shared-equity construction projects, in which future apartment owners finance the complex's construction, but many companies have developed alternative УgrayФ schemes that still limit the investors' rights.

Duma Gets Bill Limiting Cross Holding Ownership

State Duma deputies have introduced a bill that would fight circular ownership structures in corporations, although experts said the proposals went too far.

'Fantastic' Plan to Save Rechnik

A legal method has already been found to save the houses in Rechnik that are on federally owned land, Vedomosti has learned.

Constitutional Court Moves Toward Precedent-Based System of Law

The Constitutional Court has found that the Supreme Arbitration Court's right to review a decision that has already come into force poses no contradictions to the fundamental law.

Sberbank Cuts Deposit Rates to Precrisis Levels

The country's largest lender reduced its ruble deposit rates for private individuals on Friday by 1 to 2 percentage points, a move which may lead to lower lending rates.

Ministry Readies Tax Haven Curbs

President Dmitry Medvedev has requested legislation that would prevent Russian businesses from reducing their taxes through companies registered in countries with which Russia has double-taxation agreements.

Swiss to Share Details On Russian Accounts

The move to allow Russia access to information on its citizens' Swiss bank accounts is part of a series of agreements being signed by the Swiss government meant to help countries in their pursuit of tax evaders.

Swiss to Share Information About Bank Accounts With Moscow

In May, a Russian Finance Ministry official said Switzerland was one of the countries with which the Russian government was negotiating new protocols for receiving tax information.

Bill Proposes Making Execs Liable for Losses

The Federal Service for Financial Markets has proposed legal changes that would allow shareholders to punish a companyТs management for unreasonable or unfair actions and legalize so-called golden parachutes for executives who have left.