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Russia's tax system should boost business - Supreme Commercial Court chairman

13:40 20/09/2013

VLADIVOSTOK, September 20 (RAPSI, Sergei Feklyunin) - The Russian tax system is in need of a reshuffle aimed at the development of small- and mid-sized businesses, according to Anton Ivanov, Chairman of the Supreme Commercial Court.

Speaking at the Asian and Pacific Countries Forum currently being held in Vladivostok, Ivanov explained that Russia needs to diversify its economy by focusing less on crude elements, such as gas and oil, and encouraging small and mid-sized business development. This year the major topic of the Forum is tax regulation.

The calculation of taxes should be eased for small and mid-sized businesses, which cant be done without multiple accountants doing this job, he added having expressed his concerns about major companies whose transparency should be increased with additional measures.

Moreover, Ivanov supports the continued effectiveness of legal measures aimed at optimizing taxes for businesses, such as that which exist in some countries such as the US and the UK. In his view, Russia falls somewhere between the typical offshore jurisdictions and those where high tax rates and a fierce combat against tax evasion are characteristic features of the tax regime.

Tax optimization should be put under strict governmental control for the money not to be taken away oversees but remain in Russia and be invested into the Russian economy development, according to Ivanov.

In the Russian judicial system, commercial courts under Ivanov hear commercial disputes between legal entities pertaining to civil, administrative and other relations. General jurisdiction courts consider civil lawsuits, crimes and cases involving administrative offenses. This branch of the system is headed by the Supreme Court.

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Russia's tax system should boost business - Supreme Commercial Court chairman

13:40 20/09/2013 The Russian tax system is in need of a reshuffle aimed at the development of small- and mid-sized businesses, according to Anton Ivanov, Chairman of the Supreme Commercial Court.
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