Cooperation in Commercial Taxation Certainly, many Russia officials across the ideological spectrum agree that a new tax system that lowers the burden on companies is crucial. The Duma took a big step last July when it passed Part I of the Tax Code. Now, the government and the Duma must work together to reform the commercial taxation system to meet revenue needs and allow business development. The Tax Working Group, by the way, relies on participation by AmCham tax experts in Moscow. Rule of Law Rule of law is vital for the development of both democratic and market-based institutions.
Criminal groups continue to have undue influence on Russia's commercial climate.
Fair and transparent legal rules for capital markets, ownership and transfer of real property, protection and enforcement of intellectual property and contract rights are essential if Russia is to attract investment and achieve growth. Here it is important to strengthen mechanisms for resolution of commercial dispute, so that court rulings and arbitral awards are reached in a judicious manner and promptly enforced We are finding people to work with in the Russian government and its judiciary as well as U.S. and Russian businesses to promote improved mechanisms for commercial arbitration and enforcement of court and arbitral decisions. Reducing tariffs on industrial inputs is a step which could help Russian manufacturers now. These measures are needed to increase trade and create a favorable investment climate, and will be an important step for Russia's entry into the World Trade Organization, which the U.S. strongly supports. We will also be talking with government officials and members of the Duma about provisions of legislation that would keep foreign companies out of tourism, insurance, and other sectors, to the detriment of Russia.