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Public companies equated in dividends
19.04.2016
Prime minister Dmitry Medvedev announced the signing of a regulation that raises the bar for payment of dividends by public companies for 2015. This way the government counts on receiving RUB 100 million in the budget. Discussions on the possibility of increasing budget income on account of withdrawals from profits of public companies have been going on for a few months. The government is talking about severe measures: the rule is that the amount of dividends shall not be less than 50% of the greater of two values - net profit under Russian Accounting Standards or under IFRS. For monopolies (such as Transneft, RZD OJSC, Rosseti) a third control number is introduced - 50% of net profit accounted by the Federal Antimonopoly Service when forming the rate.
Technically, the document is addressed to companies, the shares of which are owned by Federal Property Management Agency - “joint stock companies, the shares of which are federal property.” Partner of YUST Law Firm Alexander Bolomatov mentioned to Kommersant newspaper that the regulation requires from the governmental representatives in joint stock companies to achieve the execution of the provision in their subsidiaries, but the law on joint stock companies does not provide this procedure.
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Prime minister Dmitry Medvedev announced the signing of a regulation that raises the bar for payment of dividends by public companies for 2015. This way the government counts on receiving RUB 100 million in the budget. Discussions on the possibility of increasing budget income on account of withdrawals from profits of public companies have been going on for a few months. The government is talking about severe measures: the rule is that the amount of dividends shall not be less than 50% of the greater of two values - net profit under Russian Accounting Standards or under IFRS. For monopolies (such as Transneft, RZD OJSC, Rosseti) a third control number is introduced - 50% of net profit accounted by the Federal Antimonopoly Service when forming the rate.Technically, the document is addressed to companies, the shares of which are owned by Federal Property Management Agency - “joint stock companies, the shares of which are federal property.” Partner of YUST Law Firm Alexander Bolomatov mentioned to Kommersant newspaper that the regulation requires from the governmental representatives in joint stock companies to achieve the execution of the provision in their subsidiaries, but the law on joint stock companies does not provide this procedure.
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