On Harmonizing the External Economic Policy among the Countries of the Common Economic Space: Problems and Prospects

The article provides the tax systems of the countries of the customs union of Belarus, Kazakhstan and Russia, reveals the differences and identifies the need for harmonization and convergence of the structures and principles of taxation, the general tax reforms and harmonization of fiscal policies o...

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Autor principal:	E. S. Ratushnyak
Formato:	article
Lenguaje:	EN RU
Publicado:	MGIMO University Press 2014
Materias:	customs union common economic space vat exports regional integration competitiveness International relations JZ2-6530
Acceso en línea:	https://doaj.org/article/9e356d411c7449608b676055e22af575
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spelling	oai:doaj.org-article:9e356d411c7449608b676055e22af5752021-11-23T14:50:55ZOn Harmonizing the External Economic Policy among the Countries of the Common Economic Space: Problems and Prospects2071-81602541-909910.24833/2071-8160-2014-1-34-72-79https://doaj.org/article/9e356d411c7449608b676055e22af5752014-02-01T00:00:00Zhttps://www.vestnik.mgimo.ru/jour/article/view/11https://doaj.org/toc/2071-8160https://doaj.org/toc/2541-9099The article provides the tax systems of the countries of the customs union of Belarus, Kazakhstan and Russia, reveals the differences and identifies the need for harmonization and convergence of the structures and principles of taxation, the general tax reforms and harmonization of fiscal policies of member countries in order to increase the investment attractiveness and competitiveness of the national economies in the process of development and integration. The comparison of the existing tax systems of the three countries revealed differences affecting the implementation and development of the foreign economic activity of companies in terms of the common market, in particular, the main obstacles to doing business are high tax rates as well as different rates of value added tax (further - VAT) regarding indirect taxation, because this tax is the major budget revenue generating tax involved in the pricing and resulted in decreasing in the export potential of the country. One of the major exporters' obstacles of CU, revealed in the paper, is a VAT refund in export transactions, preventing the development of export activity, which reduces the competitiveness of CU on the foreign markets. The harmonization success of fiscal policy depends on the government, and the institution body taking the harmonization, - this paper looks at the necessity of such harmonization among the three countries of customs union, which at present has interstate form while supranational regulation of Eurasian Economic Commission is absent, since it does not have such empowerment. The paper finds the main tax policy directions of harmonization of customs union countries focused on eliminating of the barriers and for easy the implementation of a process for foreign trade enterprises, the development of the participating countries investment attractiveness, the enhancing the products competitiveness, the development of the export activities efficiency on the whole for the formation of the common customs area. In addition, the practicality of the tax ratio and customs legislation is revealed in this paper. It is important in order to fuel the growth of the integration economic performances and equal competitive conditions for participating countries to give consideration to the harmonization of the taxation of the three countries as one of the main directions of development of integration within the framework of the common economic space (further - CES).E. S. RatushnyakMGIMO University Pressarticlecustoms unioncommon economic spacevatexportsregional integrationcompetitivenessInternational relationsJZ2-6530ENRUVestnik MGIMO-Universiteta, Vol 0, Iss 1(34), Pp 72-79 (2014)
institution	DOAJ
collection	DOAJ
language	EN RU
topic	customs union common economic space vat exports regional integration competitiveness International relations JZ2-6530
spellingShingle	customs union common economic space vat exports regional integration competitiveness International relations JZ2-6530 E. S. Ratushnyak On Harmonizing the External Economic Policy among the Countries of the Common Economic Space: Problems and Prospects
description	The article provides the tax systems of the countries of the customs union of Belarus, Kazakhstan and Russia, reveals the differences and identifies the need for harmonization and convergence of the structures and principles of taxation, the general tax reforms and harmonization of fiscal policies of member countries in order to increase the investment attractiveness and competitiveness of the national economies in the process of development and integration. The comparison of the existing tax systems of the three countries revealed differences affecting the implementation and development of the foreign economic activity of companies in terms of the common market, in particular, the main obstacles to doing business are high tax rates as well as different rates of value added tax (further - VAT) regarding indirect taxation, because this tax is the major budget revenue generating tax involved in the pricing and resulted in decreasing in the export potential of the country. One of the major exporters' obstacles of CU, revealed in the paper, is a VAT refund in export transactions, preventing the development of export activity, which reduces the competitiveness of CU on the foreign markets. The harmonization success of fiscal policy depends on the government, and the institution body taking the harmonization, - this paper looks at the necessity of such harmonization among the three countries of customs union, which at present has interstate form while supranational regulation of Eurasian Economic Commission is absent, since it does not have such empowerment. The paper finds the main tax policy directions of harmonization of customs union countries focused on eliminating of the barriers and for easy the implementation of a process for foreign trade enterprises, the development of the participating countries investment attractiveness, the enhancing the products competitiveness, the development of the export activities efficiency on the whole for the formation of the common customs area. In addition, the practicality of the tax ratio and customs legislation is revealed in this paper. It is important in order to fuel the growth of the integration economic performances and equal competitive conditions for participating countries to give consideration to the harmonization of the taxation of the three countries as one of the main directions of development of integration within the framework of the common economic space (further - CES).
format	article
author	E. S. Ratushnyak
author_facet	E. S. Ratushnyak
author_sort	E. S. Ratushnyak
title	On Harmonizing the External Economic Policy among the Countries of the Common Economic Space: Problems and Prospects
title_short	On Harmonizing the External Economic Policy among the Countries of the Common Economic Space: Problems and Prospects
title_full	On Harmonizing the External Economic Policy among the Countries of the Common Economic Space: Problems and Prospects
title_fullStr	On Harmonizing the External Economic Policy among the Countries of the Common Economic Space: Problems and Prospects
title_full_unstemmed	On Harmonizing the External Economic Policy among the Countries of the Common Economic Space: Problems and Prospects
title_sort	on harmonizing the external economic policy among the countries of the common economic space: problems and prospects
publisher	MGIMO University Press
publishDate	2014
url	https://doaj.org/article/9e356d411c7449608b676055e22af575
work_keys_str_mv	AT esratushnyak onharmonizingtheexternaleconomicpolicyamongthecountriesofthecommoneconomicspaceproblemsandprospects
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On Harmonizing the External Economic Policy among the Countries of the Common Economic Space: Problems and Prospects

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