IMPROVING TAX COMPLIANCE IN A GLOBALIZED WORLD: AN APPROACH OF BRICS COUNTRIES

Abstract

Introduction: The article is devoted to the issues of improving tax compliance. The tax gap leads to the loss of the planned revenues to the budgetary system, therefore the Russian Federation, as many other countries, is trying to give an adequate forecast of the possible tax gap and minimize the amount of the falling out revenues. Methods: comparison and analysis, comparative legal method. Analysis: to decrease the tax gap it is necessary to adopt a complex of measures such as improving: (1) access to information needed by tax administration, (2) exchange of information between tax administrations of different countries (3) horizontal monitoring and risk management. At present, Russian tax law includes both traditional and modern forms of tax audit that need to be developed on the following directions: (1) providing for the expanded electronic documentation circulation between the tax administration and taxpayers, (2) reduction of time and material costs of the preparation and submission of tax returns, and other. Results: the effective elimination of the tax gap requires coordinated and consistent application of the abovementioned measures taking into account the economic situation and the actual capacity of certain categories of taxpayers in regard to paying taxes. In the context of the BRICS, it is proposed to adopt international conventions aimed at improving tax compliance and creating conditions for a fair resolution of cross-border tax disputes.