In-Kind Charter Capital Contributions / Import Duties Exemption

Tax News Reporter - Week ended 8 October 1996

Following Government Regulation of 23 July 1996 No. 883, which established restrictions on the import privileges granted to in-kind contributions to the charter capital of joint-stock companies or the capital of partnerships, it is confirmed that only items listed in the All-Russian Classificator of Main Funds (No. OK 013-94, confirmed by Regulation of Gosstandard of 26 December 1994 No. 359) will qualify, provided they are directly used for production purposes as described in the charter documents. The State Customs Committee can carry out audits to control compliance with these requirements.

Order of the State Customs Committee No. 01-14/892 of 13 August 1996