Authors
Gerasimenko N. V.
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Degree
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PhD (Law), adviser, Analysis Department, Federal Antimonopoly Service of the Russian Federation, member of the International Financial Law Association |
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Articles
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Legal aspects of the international tax rate competitionThe international capital flow growth contributes to the international tax rate competition activation. Different countries have to fight for the bigger cash-flows and attract foreign investment and the income of the major taxpayers. At the same time the competition in this area is special as there are some barriers between the domestic and international markets to be broken and the rules and regulations in the tax sphere need to be harmonized.
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Legal aspects of the international tax rate competitionThe international capital flow growth contributes to the international tax rate competition activation. Different countries have to fight for the bigger cash-flows and attract foreign investment and the income of the major taxpayers. At the same time the competition in this area is special as there are some barriers between the domestic and international markets to be broken and the rules and regulations in the tax sphere need to be harmonized.
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Interdependency of fiscal and competitive market-related policiesDespite the fact that the policies are implemented in different ways, the fiscal and competitive ma¬ket-related policies have a common goal of ensuring the market economy mechanisms' efficiency and improving the climate for doing business and making investments. Today the interdependency and the mutual influence between the fiscal and market competition-related policies are growing bigger in the field of legislation. The reason for the growth is the fact that certain processes are going on in the economy and the correlation is being sought with the development trends that exist in the foreign legislative systems.
According to the author, the competitive market-related policies and the fiscal policies should be elaborated by the Federal Antimonopoly Service in cooperation with the Federal Tax Service. The work should be coordinated by the RF Government. These two executive bodies should act within the framework of their terms of reference and should foster favorable environment needed to develop bona fide competition where the tax law is used as a control instrument and not as a basis for taking punitive measures.
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