CONCEPTUAL FUNDAMENTAL PRINCIPLES AND POSSIBILITIES FOR HIGH-QUALITY TAX RISK MANAGEMENT AS AN EFFECTIVE MECHANISM TO HEDGE THE RISK OF BUSINESS PROSECUTION IN RUSSIA (ON THE EXAMPLE OF PJSC (PAO) SEVERSTAL)
( Pp. 11-17)

The article is devoted to the problem of business «prosecution» risk in Russia in cases of tax evasion. It underpins that taxpayers shall use hedge instruments to provide safety measures from within-named risk through timely developed own effective tax risk management system. The reason for the preparation of the article is a reaction to the news in the Russian mass media concerning certain warnings about specific nature of doing business in Russia and about business climate in the country. The article, on the example of the Russian PJSC (PAO) Severstal which used offshore territories to pay dividends, considers the nature of these warnings. As a result of a profound research, the article issues factor analysis of tax risks realization by the company in conjunction with qualitative risk management capabilities, affecting, inter alia, the reliability of accounting information provided to the public by the company. In the methodological aspect of the article, the official data of the Russian judiciary and the USA Internal Revenue Service (IRS) is used. Based on the analysis, genesis and the nature of tax relations, the conclusion is that the world economy agents, including those in Russia, as taxpayers, shall use hedging method to rule out business «prosecution» risk. It is, so far, the only available mechanism to maintain their own interests. The management and owners of companies shall use their own resources to timely develop qualitative system of tax risks management capable of providing reasonable assurance in the event of «prosecution» on the fact of tax evasion. Consequently, there is a direct correlative relationship and dependence between the qualitative system and the risk of business prosecution.

Snegovaya I.L., (2017), CONCEPTUAL FUNDAMENTAL PRINCIPLES AND POSSIBILITIES FOR HIGH-QUALITY TAX RISK MANAGEMENT AS AN EFFECTIVE MECHANISM TO HEDGE THE RISK OF BUSINESS PROSECUTION IN RUSSIA (ON THE EXAMPLE OF PJSC (PAO) SEVERSTAL). Economic Problems and Legal Practice, 2 => 11-17.

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Russia (Russian Federation), prosecution, business, the business climate, evasion, taxes, PAO "Severstal", offshore (offshore), Cyprus, BVI, tax authorities, the court, risks, hedging, USA, fraud, tax law, imperative, reporting, tax legal, the risk-based, quality, effective, management, risk management system (RMS).