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Duma committee approves bill on claims to recover funds for state budget

15:59 27/09/2012

MOSCOW, September 27 - RAPSI. The State Duma's Budget and Tax Committee recommended on Thursday the adoption in the first reading of a government-proposed draft law establishing a five-year limitation period on claims to recover funds for the state budget.

The bill is expected to be considered at the State Duma's meeting on October 17.The bill will amend the Budget Code and establish a five-year limitation period for claims filed on behalf of the country. The period will apply to the collection of funds borrowed from the federal budget, and the targeted financing of legal entities in exchange for shares under government guarantees.

The new law was drafted pursuant to the Constitutional Court's ruling dated July 20, 2011, in which the statute of limitations for claiming funds repayment for the state budget was increased upon the Supreme Commercial Court's request.

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Duma committee approves bill on claims to recover funds for state budget

15:59 27/09/2012 The State Duma's Budget and Tax Committee recommended on Thursday the adoption in the first reading of a government-proposed draft law establishing a five-year limitation period on claims to recover funds for the state budget.
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