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Russia Plans To Climb Doing Business Due To Tax Administration

17.10.2012 13:34 / Interfax

Russia plans to climb the Doing Business ranking list due to improvement of its tax administration, Russian Minister of Finance Anton Siluanov informed.

Russia took only the 120th place in the latest Doing Business ranking. But this ratings list got selected by the state authorities as a success indicator of their efforts to improve the entrepreneurial climate. In his first enactment after taking his position President Vladimir Putin put a task to climb up to the 50th place by 2015 and up to the 20th – by 2018.

“According to the Doing Business ranking, today we, together with the Federal Tax Service and Mikhail Mishustin (head of FTS – INTERFAX), actively cooperate with the World Bank (the rating calculates the investment segment of the WB group – IFC) from the point of an objective evaluation of the Russian tax system and Russian administration in order to climb up a number of steps in evaluation of the Russian Federation in accordance with these criteria. I hope, Russia will be able to improve its position in this Doing Business ranking list seriously,” Siluanov said in his interview to the “Taxes” program, Russia 24 TV channel.

On Wednesday the FTS holds a meeting of the Organization for Economic Cooperation and Development (OECD) Bureau on tax administration.

“It is a very important event. The Russian tax system has overcome through serious changes lately. We have changed our tax legislation to correspond to the OECD requirements. It is very important for taxpayers, too, - we’ve simplified the tax system. It is vital for harmonization of our tax system with the best international standards. We’ve recently taken a decision both to avoid double taxation and on transfer pricing according to the principles indicated in the OECD requirements,” Siluanov said.

According to him, Moscow will organize the OECD Forum on tax administration in 2013. “That is a proof of those successes Russia has reached both in tax legislation and tax administration,” Minister of Finance believes.

The Forum will take place in May, Mishustin informed at the Bureau meeting.

“We believe that mutual efforts of different countries and the OECD need to be targeted at finding solutions of such global tax issues as exchange of banking information, data on end income beneficiaries, as well as finding a balance between reducing administrative costs on execution of tax legislative requirements and effectiveness of supervision over compliance with legislation,” Mishustin declared.

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