OREANDA-NEWS. March 17, 2009. President of Russia Dmitry Medvedev has ratified Federal Law “On Amendment to Article 251 of Paragraph 2 of the Tax Code of the Russian Federation” exempting the contributions of the Russian Federation into the property of state corporations and funds from profit tax.

The law was adopted by the State Duma on Feb 20 2009 and approved by the Federation Council on Mar 4 2009.

The law exempts from profit tax the incomes received in the form of contributions of the Russian Federation into the property of the state corporations and funds established by the Russian Federation, on the basis of federal laws, wherein no authorized capitals shall be formed.

The incomes will not be considered as subject to profit tax starting from Jan 1 2007.