FBK Legal Article in 'Zakon' Journal – Personal Income Tax: Imbalance Between State's and Taxpayer's Positions
The November issue of ‘Zakon’ legal journal features an article by Maria Semenova, Director at FBK Legal, and Tatyana Gertsog, Senior Consultant at FBK Legal, titled ‘Personal Income Tax: The Imbalance Between the State's and the Taxpayer's Positions’.
The article explores practical challenges stemming from specific areas of legal ambiguity within Russia's personal income tax framework. The authors examine scenarios where taxpayers struggle to determine their tax liabilities, which can result in either a reduction in budget revenue due to underpaid taxes, or conversely, in the financial burden on individuals from excessive or double taxation on certain income streams.
The authors advocate for targeted legislative changes to clarify these ambiguities and enhance the overall efficiency of tax regulation.
The findings identified in the publication are based on the authors’ hands-on experience gained through tax advisory and structuring projects for private clients.
