LEGISLATION

1. THE FEDERAL BILL "ON THE RESTORATION AND PROTECTION OF THE RUSSIAN
   FEDERATION CITIZENS' SAVINGS" WAS ADOPTED IN THE FIRST READING BY THE
   STATE DUMA.
2. THE STATE DUMA INCREASED THE AMOUNT OF THE OVERALL ANNUAL INCOME OF
   NATURAL PERSONS IMPOSED ACCORDING TO THE MINIMUM TAX RATE OF 12% FROM 1 TO
   10 MLN RBLS.
3. ON JULY 21 THE PRESIDENT OF THE RUSSIAN FEDERATION BORIS ELTSIN SIGNED THE
   FEDERAL CONSTITUTIONAL LAW "ON THE CONSTITUTIONAL COURT OF THE RUSSIAN
   FEDERATION".
4. ON JULY 20 THE LOWER CHAMBER OF THE RUSSIAN PARLIAMENT ADOPTED A PACKET OF
   AMENDMENTS TO THE LAW ON TAXES.
5. ON JULY 26 THE COUNCIL OF FEDERATION OF RF APPROVED CHANGES AND
   SUPPLEMENTS INTRODUCED BY THE STATE DUMA IN THE LAW "ON PAYMENT FOR LAND".
6. BPRESIDENT'S DECREE OPENS THE SECOND STAGE OF THE PRIVATIZATION.