New laws for business will be “filtered”

5th March 2015

The Ministry of Economic Development of the Russian Federation supported the idea of a more thorough assessment of drat laws if they lead to increased costs for business and citizens

The National Council of Financial Market (NCFM) sent its own version of a package of anti-crisis measures to support entrepreneurs and citizens to the Ministry of Economic Development of the Russian Federation. Among them is introduction of compulsory impact assessment reports for all draft laws that impose costs on small business, entrepreneurs and citizens. Ministry of Economic Development supports the proposals of NCFM. Now, in accordance with Article 104 of the Constitution of the Russian Federation, the Russian government has to give its opinion only in respect of those draft laws, which contain costs covered by the federal budget.

The second proposal of NCFM is to prohibit amending the draft in the second reading if such amendments introduce new responsibilities for individual entrepreneurs and small business (as compared to the version of the draft passed in the first reading). Such amendments shall be considered as separate draft laws because they change the essence of the draft law and, accordingly, change implications for business. When making such amendments to the second reading it is impossible to assess their economic impact.

Third sentence is a mandatory 6-month postponement of the entry into force of draft laws containing new financial burdens for business and citizens.

– Generally, the Ministry of Economic Development of the Russian Federation supports the approach aimed at reduction of regulatory burden on business, – said Assistant of the Minister of Economic Development Elena Lashkina. – In particular, the Ministry of Economic Development has repeatedly advanced the initiatives aimed at the introduction of regulatory impact assessment in regards to the second reading, as well as the introduction of transitional periods needed to adapt to new requirements. For example, a draft stipulating two dates of entry into force for laws regulating business (April 1 and October 1), as well as a minimum 6-month moratorium on the entry into force of such laws, has already been introduced by the Ministry to the Government.

April 1 and October 1 correspond to the beginning of II and IV quarters of the fiscal year; take into account the requirements of the annual reporting of economic entities. A moratorium would give the time necessary for the development and adoption of subordinate legislation, adjusting business processes and software, – say the experts of the Ministry of Economic Development of the Russian Federation.

 

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