Izvekov S.S. Developing Taxation Matters of Cross-Border Bankruptcy Within the Territory of the BRICS Countries

Abstract: The present article is devoted to the taxation matters arising in the process of cross-border bankruptcy as well as ways to harmonize legislation systems of the BRICS member-states for this purpose. In his research Izvekov defines the main problems related to the priority of fiscal requirements in the bankruptcy legislation of the BRICS countries, analyzes whether a state may participate in the case of bankruptcy while in the territory of another contracting state and offers relevant solutions. The researcher outlines the theoretical grounds for the influence of fiscal requirements of the state at the extraterritorial level. The research is based on the comparative analysis of international practices of trans-border bankruptcies, national bankruptcy legislation and issues of insolvency of the BRICS countries. The author also describes conceptual contradictions in the priority of creditors' claims in some BRICS countries. Izvekov demonstrates how the main results of the research can be applied to the BRICS commonwealth and suggest that government authorities should be able to participate in the proceedings initiated in the territory of other BRICS countries. It is assumed that the present research article can be of interest not only for those who are interested in trans-border bankruptcy but also for those who are concerned about general issues of comparative legal studies and international jurisdiction. 

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