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ARTICLE · 23 OCTOBER 1996

Bank Transfers / Information To Be Included In Payment Order

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RussiaLitigation, Mediation & Arbitration
Tax News Reporter - Week Ended 22 October 1996

Effective 11 October, tax and other obligatory payments in roubles must go through the calculation centre (of the Central Bank and a Bank Idendification Code (BIC) must be mentioned to identify the bank of the payer and of the payee with the RKC. We have summarised the bank account information for Moscow representative offices for tax payments and medical fund contributions. With regard to the Pension fund, Employment Fund and Social Insurance Fund the situation is different: representative offices are registered with the branch of the fund where they are located and pay to their bank accounts.

Letters of the Central Bank of 19 August 1996 No. 17-1-7/457 and of 5 September 1996 No. 323

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