MAIN DIRECTIONS OF TAX SYSTEM REFORM IN THE MEDIUM TERM

In the next decade the Russian tax system will face tremendous challenges, due to both objective factors (significant dependence of the Russian economy on foreign trade conjuncture, etc) and a number of decisions in the field of fiscal policy. Viewing these challenges the authors examine three objectives of reforming the tax system: a balanced budget, improving equity and efficiency of taxation and the development of fiscal federalism – as well as the corresponding measures of tax policy in the medium term.