This paper provides a theory of incorporation and taxation that emphasizes the role of the corporate legal form in facilitating access to external capital and the potential advantages of limited liability. Incorporation relaxes financing constraints and makes corporations larger than comparable...

The law on the federal budget for 2013 and the planning period 2014–2015 was approved by the RF State Duma in the third reading on 23 November 2012[1]. The domestic debt ceiling is set at the level of 10% GDP, the foreign debt ceiling – at about Rb 2.1 trillion. There figures are above the...

In December 2012, a number of amendments and alterations were introduced into tax and budget legislation, as well as into legislation regulating the sphere of mandatory payments and government off-budget funds. An analysis of the possible scenarios for further development of the taxation system...