Comparing Risk Components of Taxation Systems of Italy and the Russian Federation

The purpose of this article is assessment and comparison of the risk component in Italian and Russian tax systems, taking into account the influence of tax revenue structure, certain tax revenue irregularities and interrelation between tax revenues as such. For that reason, we described tax yield rate in both the countries at large and in terms of their basic taxes. On the basis of standard deviation indicator we assessed each tax risk within the framework of the taxation system of each country. Using H. Markowitz’s portfolio-based approach we analyzed the risk level of the tax system at large, relating to both the Russian Federation and Italy. In conclusion we inferred the reasons for the assessment given. The research was done on the basis of the official data provided by the state fiscal bodies and statistical authorities of the Russian Federation and Italy. DOI: 10.5901/mjss.2016.v7n1p4