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Taxation optimization in Russia
Schemes of taxation optimization in Russia will be removed by changing of laws and with the help of law enforcement bodies, Russian Finance Minister Alexei Kudrin told a press conference with RIA Novosti. "There are absolutely criminal schemes and the law enforcement bodies should work with them," he added. The existing loopholes in the legislation should be removed via amendments to the Tax Code, he added. According to the minister, some formally legal operations create the schemes, which cannot be formally faulted and allow to lift money from budgets. Such schemes existed in the closed administrative-territorial establishments, in Baikonur space center and in some Russian regions, Mr. Kudrin said. In his words, today these possibilities are fewer. The restriction of privileges granted to constituent members of the Russian Federation on profits tax was the last step taken in this sphere. There are over 30 coordinated and approved schemes in the USA, which were acknowledged criminal though their parts are absolutely legal. The minister believes that it is necessary to consider such schemes without any damage to simplicity and transparency of tax payments.
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