Tax and gas

Overview

There is little to show for this year's annual round of tax changes in Russia. This thin outcome does not signify that tax reform has become marginalised. On the contrary, this result reflects the reality that taxation is at the centre of some major unresolved policy issues.

The challenge is to tailor tax policy to the strategic goals of investment-led growth and diversifying the economy. The well thought-through response of the government's economic team is to increase the tax...