The Government of the Russian Federation has approved draft amendments to the Budget Code, which provides for a number of key innovations in the budget process. This was reported by the Ministry of Finance.
The bill fixes the standards for the distribution of individual incomes between budgets. Revenues received from administrative fines for violation of the rules of heavy, oversized transport on roads of regional, inter-municipal or local significance and fines for violation of the high-alert regime are permanently assigned to the budgets of the regions.
In the Budget Code, the tax on excess profits of organizations for the past years is established as one of the types of budget revenues that will be credited according to the 100% standard to the federal budget.
The bill proposes to establish new sources for the formation of road funds: for the federal road fund — income from the use of state property under the terms of concession agreements, for regional and municipal — payment in compensation for damage to roads caused by heavy vehicles and fines for violation of the rules of movement of such transport.
In addition, it is proposed to introduce a norm on the gratuitous provision of services to the Federal Treasury by a clearing organization, a central depository, a central counterparty and an exchange.
In order to create a unified state system for integrating data on public finances, the requirement is fixed to place information on financial and non-financial assets and liabilities of the Russian Federation, federal budgetary and autonomous institutions in the GIS "Electronic Budget".
