Review of the Regulatory Documents on Taxation Issues in June-July 2013

Abstract

In the period under review, the Government of the Russian Federation has confirmed its position which consists in the fact that in the next few years it will not change the existing rules of taxation. At the same time, business has become more active in promotion of proposals to reduce a tax load. The platform of the All-Russia People’s Front, a new political alliance is actively used for putting forward initiatives as regards tax holidays. Privileges are proposed to financial market participants within the frameworks of realization of the RF Government’s idea to create the MFC in the territory of the Russian Federation and initiatives on adjustment of the existing scheme of taxation in the oil industry are voiced. In our opinion, at present it is important to be cautious in promotion and realization of any financial initiatives as the economy of the Russian Federation has to go through an inevitable stage of market adaptation and losses of budget revenues are as undesirable as an increase in the tax burden.