Overview of legislative changes from March – May 2017
In the new review, we would like to draw your attention to some important legislative changes that occurred in the spring of this year in the field of construction, antimonopoly regulation, labor law, and tax law. The Russian Ministry of Construction issued decrees that ratified the methods to be used to determine cost estimates for construction materials. Substantial changes have been introduced into Article 14.32 in the Russian Federation Administrative Offenses Code that establish the liability for signing anti-competitive agreements and implementing impermissible concerted actions. On March 28th, 2017 the Russian Federation State Duma introduced a bill for a federal law that would significantly restrict employers from demanding work days with irregular work hours. Another bill is going through public debate that obliges legal entities to gain knowledge of any beneficial owners that might exist, to take steps to identify them, and also to present information about them to the Russian Federal Service for Financial Monitoring and the Federal Tax Service upon request. to help combat both the legalization (laundering) of funds that have been acquired by illegal means and the financing of terrorism.
