On November 2, 2004, the President of Russian signed the federal law №127 On the amendments into the I and II parts of Taxation Code of the Russian Federation and several other legislative documents, and on some bills losing their validity.

The law will come into force on January 1, 2005, and it supplements the second part of Taxation Code of Russia (Chapter 25.3 "The State Duty"). According to the new amendments, the federal law On the State Duty has lost its validity.

The new law provides the following duties for federal assay and branding procedure: for golden jewellery — up to 60 roubles per an article, silver jewellery — up to 150 roubles.

Expert state that in the current conditions, when the prices of gold have reached their maximum, these duties introduction may influence Russian jewellery sector extremely negatively.