Review of Taxation Regulatory Documents Issued in the Period of September thru October 2013

Abstract

Although the latest period saw failure in coping with economic stagna?? on in Russia, it should be noted that Russian’s economy demonstrated a good stress resistance. In our opinion, this can be indica?? ve of its gradual adapta?? on to the market. The ‘budget rule’ has proved effi cient – the fi scal rela?? ons system didn’t collapse due to high water in the area of Amur River; Pushkino Bank’s (the Moscow Oblast (Region)) sudden bankruptcy required no extra infusion of public funds and was localized with the resources allocated by the Deposit Insurance Agency. This is all indica?? ve of that protec?? on mechanisms of public fi nances were actuated in a proper manner in emergency, there was no need to increase tax burden or resort to unscheduled emergency-related fundraising. The key topic of discussion in the period under review a new pension formula and proposal to use its funded component to finance pay-as-you-go system in 2014. Furthermore, certain tax ini?? a?? ves which needs to be polished were discussed in the economic process