OREANDA-NEWS. November 18, 2013. The President of the Russian Federation Vladimir Putin singed a Federal Law that introduces several changes to the Code of the Russian Federation on Administrative Violations”.

The Code imposes liability in the form of administrative fines for failure to summit, late submission, as well and knowingly submitting inaccurate information necessary to calculate an administrative fine (the so-called “turnover” fine) for abusing market dominance and anti-competitive agreements.

To calculate fines for administrative violations under Part 2 Article 14.31 of the Code on Administrative Violations and Part 1 Article 14.32 of the Code, impose a fine upon a person that sells goods (works, services), calculate the size of fine, shall be used the income from selling goods (works, services), on the market where the violation was committed, and if a fine is imposed upon a person buying goods (works, services) – the expenses of the violator for buying goods (works, services).

Failure to summit, late submission, as well and knowingly submitting inaccurate information necessary to calculate an administrative fine, shall be punishable by a fine: upon officials from 10,000 to 15,000 RUB, and upon legal entities – from 100,000 to 500,000 RUB. If after a fine is imposed, it is revealed that the submitted information on the basis of which the fine was calculated is incorrect, officials can be fined from 10,000 to 15,000 RUB, and legal entities – the difference between the administrative fine that could have been imposed on the basis of correct data and the sum of the already imposed fine. The fine cannot be less than twofold and more than tenfold of the imposed administrative fine.

In the new version of Part 2 Article 14.32 of the Code liability for prohibited coordination of economic activities is changes from “turnover” fines to an administrative fine in the size from 1 to 5 million RUB.