BGP Litigation senior associate Denis Savin speaks with Expert Online about pending tax reforms: "There's no need to devise anything grandiose"

"Corporate executives, who tend be focused on business ideas, should not and do not want to delve into the finer points of taxation, but now to develop a company it will have to be done, says Denis Savin, a senior associate with BGP Litigation. The best choice for them will be to stick with the simplified system of taxation.  So there's no need to devise anything grandiose. A positive move for the economy will be to increase the limits under that system of taxation – to 1 billion roubles, for example. This will not only allow business to pay taxes and avoid wasting time and resources on running an accounts department and dealing with disputes with the regulatory authorities, but will also reduce the tendency to 'split up' businesses by using SPVs and offshore structures. As a result, senior management can focus on the business and its development".

The full article (in Russian) is available here: "Налоговая перенастройка".