October Novelties: Child Benefits, New Loan Rules and Tech Inspections

October Novelties: Child Benefits, New Loan Rules and Tech Inspections

Photo: https://sterhluki.ru/

Several laws relating to child benefit payments, loans, increases in the salaries of law-enforcement personnel and other areas of life will come into force in Russia in October.

The salaries of contract servicemen, customs and police officers, as well as firefighters and prison officers will increase by 3.7%. from October.

Allowances for the first and second child are only transferred to a Mir [a Russian payment system] card from 1 October. If a recipient does not have this card, the money is placed on bank accounts, and can be cashed at the bank till. If parents want to get the allowance through electronic transfer, they must have a national Mir card, which can be obtained from any bank in the country.

Also from 1 October, mobile network operators will have to pass data to the Federal Service for Supervision in the Sphere of Telecom, Information Technologies, and Mass Communications (ROSKOMNADZOR) on legal entities and individual entrepreneurs, in particular, on their use of equipment. In addition, mobile operators will be required to notify ROSKOMNADZOR of all messages (text, voice, and multimedia) received by legal entities and individual entrepreneurs.

Protection for unqualified investors will be enshrined in law from 1 October. A pre-trade free-of-charge test will be introduced for novice investors. Those who pass it successfully will be allowed to transact up to 100,000 rubles ($1,380) per contract. Lawmakers believe that this amendment will help improve the financial literacy of citizens who will be able to assess the risk before investing money.

As known, Russia has a national vaccination calendar. According to the law, as of October 1, citizens can get all vaccinations, included in this calendar, for free in private clinics and laboratories in addition to public medical institutions. The Russians can be vaccinated by the doctor they trust in the clinic they choose. Funds for this will be allocated from the federal budget.

According to media reports, preparations for the launch of an information system to accumulate epidemiological data are due to be completed in October. The system will contain data on mandatory testing and medical check-ups of Russian citizens, foreigners, and stateless persons. The main task is to identify carriers of particularly dangerous diseases including among migrants and bar their access to work.

According to Rossiyskaya Gazeta, the validity period of the deferred vehicle inspection, established by the Russian government earlier this year, will expire on October 1.Tech inspection henceforth is mandatory for owners of cars with a tech card that expired from February through April. For the cards that expired in June, the grace period extends until November.

Meanwhile, tech inspection, as previously, is obligatory for cars over four years old as well as for taxis, trucks, and buses. If owners of the above-mentioned vehicles do not have a tech card, they will be held liable. Insurance companies have issued policies to the owners of cars and motorbikes without checking their tech card since August 22, Rossiyskaya Gazeta wrote. These car owners may have their vehicles inspected, but if they do not do it before March 1, 2022, they will not be fined. However, this fine will come into force from 1 March 2022. It will be imposed on drivers who do not have a valid car inspection certificate.

As previously reported, deputies have already submitted a bill to the State Duma that would exempt the owners of cars and motorbikes from compulsory technical inspections but this law has not been passed so far.

According to Rossiyskaya Gazeta, the Central Bank introduced new rules for granting consumer loans to citizens from the beginning of October. First and foremost, they apply to those banks’ customers who already have loans. The interest rate surcharge will be raised for the loans with high true interest costs as well as for the loans given to the citizens who already have a high debt load. The Central Bank expects such criteria to reduce banks' incentives to increase the number of risky loans. These measures, according to the financiers, will also limit the growth of citizens' debt burden. Surcharges for loans will be calculated by banks individually depending on the borrower's DTI (debt-to-income ratio).

From the beginning of October, the largest banks in Russia will be obliged to effect payments for goods using a QR code of the Faster Payments System (FPS). To be more precise, they will have to implement a Customer-to-Bank (C2B) transfer. Other Russian banks will be obliged to provide such services from 1 April 2022.

In addition, banks will be required to make transfers in the Faster Payments System (FPS) between individuals, if there is a beneficiary initiative, as well as to make a payment from a legal entity to an individual (B2C transfer). If this service is ready for operation at the bank before the specified deadline, it can be implemented as and when it is ready.

The FPS also sets new fees that will be charged to citizens when transferring funds to companies, as well as individual entrepreneurs and self-employed persons, as of 1 October.

Starting from 28 October, homebuyers will be able to complete their housing purchase documents more quickly. It is from this day that the amendments to the Law on the State Registration of Immovable Property will come into force.

Homebuyers henceforth can submit any document to the Federal Service for State Registration, Cadastre, and Cartography (Rosreestr) through a notary.

It has been decided to reintroduce the concept of a standard design to construction. According to Rossiyskaya Gazeta, this will reduce the time needed to construct buildings and save money. From now on, not only a whole building but also a separate segment of it will be recognized as a standard project. This is especially important for schools and hospitals, where it will be possible to build a separate classroom or a hospital ward as per standard design.

This register of standard projects will importantly include individual construction projects. As Deputy Minister of Construction and Housing and Utilities Sergei Muzychenko said, the availability of standard design in individual housing would make it possible to launch construction mortgages in this segment of the market as well.

In addition, one of the parents (an adoptive parent, tutor, or trustee) has the right to get a one-off allowance of 10,000 roubles ($138) per child aged 6 to 18. The child has to turn 6 before September 1 of this year. Parents who have not yet received the allowance can apply for it until 1 November 2021.

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