SECURITIES PROSPECTUS

The Company shall calculate and make quarterly advance payments and makemonthly advance payments of one-third of the actual payment for the actuallygenerated profit for the quarter preceding the quarter in which advance payments aremade in accordance with the procedure set forth in Articles 286 and 287 of the TaxCode of the Russian Federation.17.4.6. Procedure for Determining the Value of Shares Received During theReorganization Through a Spin-offThe value of shares received as a result of reorganization of RAO UES of Russiashall be determined based on data from tax accounting records of reorganized RAO UESof Russia.The value of shares in newly established entities in the reorganization through aspin-off or demerger received by JSC IDGC Holding shall be determined in accordancewith the procedure specified in Article 277 of the Tax Code of the Russian Federation.17.5. Value Added TaxTax base shall be determined as of the earliest of the following dates:1) day of shipment (transfer) of goods (work, services), property rights;2) day of payment, partial payment for the future delivery of goods (performance ofwork, provision of services), transfer of property rights.For the assignment by the new creditor which received a monetary claim and thetransfer of property rights or the acquisition of a monetary claim it shall be the day ofassignment of the claim, termination of the respective obligation or the day offulfillment of the obligation by the debtor; in the event of transfer of rights related to theagreement execution right and lease rights it shall be the day of transfer of such rights.17.5.1. Maintenance of Separate Accounting for Production and Sales CostsIn accordance with separate regulations approved by the chief executive of theCompany, the Company shall ensure separate maintenance of costs in connection withthe production and sale of:• taxable and non-taxable (tax-exempt) goods (work, services);• goods (work, services) to which various tax rates are applicable byoperation of law;238