Author: Yelena A. Smorodina, Cand. Sc. (Ec.), Associate-Prof. of State & Municipal Finances Dept.

Abstract: Recently periodicals have published a variety of opinions on the consequences of Russia’s accession to the WTO as well as on possible changes in the Russian economy generally and in certain sectors. To this end, tax consequences are researched, as a rule, within the frames of the tax and customs receipts to the budget system of the Russian Federation. The article considers the tax status which foreign companies will get after their admission to the Russian financial services market, particularities and problems of their taxation in the territory of the Russian Federation.

Key words: tax status; taxation; permanent establishement of foreign company; regularity of entrepreneurial activities; corporate tax; value-added tax; property tax.