THE LEGAL STABILITY AS A FACTOR OF ECONOMIC AND FINANCIAL MARKET GROWTH: RUSSIA, USA AND CHINA

Global economy, financial markets and technology are on the verge of moving to a new stage of development – information society. Three major world countries the US, Russia and China will play a leading role in this process. However, the specific development path will depend on many factors, including the stability of legal systems, security of computer and financial technologies, the effectiveness of legislation. The focus of this article is to assess the current condition of the economy the major countries, to identify trends and methods of stabilization of legal systems on the basis of balance of rights and obligations of the business, suggest some methods of objective evaluation of the impact factors of the total taxes, fixed costs and the legal system dynamics on financial indicators.


INTRODUCTION
In our opinion, both legal system stability and rights of businessman's and entrepreneurs can be regarded 1) as category of legislation (legal aspect), 2) as category of the law system (theoretical aspect), 3) as category of scientific jurisprudence (doctrinal aspect). In this capacity, as a category, the rights of entrepreneurs and legal stability rate have not yet found sufficient fixation neither in law nor in right nor in science, and it seems one of the Each of these three countries has its own characteristics that determine its role in the world economy. So nowadays Russia and the USA play in the world's foremost political role, and China is economic. The United States has historically had the most serious economic and technological base, but low growth and difficulties in demand. For China characterized by high rates of growth and production volumes, but not always high quality with mostly   At the same time the rights of entrepreneurs began to lose its significance as a reference point in legislation and enforcement. In sphere of the taxes the key rates at a low level while saved, but some individual taxes, for example, the State fee, has increased. The new "quasi taxes" began to appear. That is mandatory fees and charges not directly specified in the tax legislation which cannot be avoided (for example, tolls on roads, parking lots, insurance payments etc.). Of course, such costs are typical for any country in the world, however, in Russian conditions, their growth was repeated.
In the early 21st century more and more clearly has emerged the problem of corporate raid, that is the illegal taking someone's business by not legal instruments. The were a number of publications about hostile takeovers in mass-media. In Moscow and some Russian regions the special state agencies for the protection of the corporate raid victims were established.
However, the phenomenon of raiding has not been deeply investigated in a science. The problem was quite well known in the United States and therefore well-studied [4], but for Russian conditions such studies was not enough.

General provisions on rights and obligations of the business
The

Some of history
The history of business and the economic legislation development in Russia wasn't simple. It is possible to tell that serious development began after reforms of the Russian tsars Peter I and Catherine II in the 18th century.
At the same time the first basic laws were adopted about business. After Revolution of 1917 before Gorbachev's reforms in 1990 the freedom of trade, the business in Russia (then in the Soviet Union) was completely excluded. All economy both big and small was state, but non-efficient.
In 1990's were adopted the first laws on freedom of enterprise in new democratic Russia. It were the Bases of Civil Legislation (1991), the Civil Code (1994), the Privatization Act (1991), the Enterprises and Entrepreneurial Activity Act (1990), the Investment Activity Act (1991), the Competition and Antitrust Act (1991). Laws for the first time established the principle of freedom of business activity and the main forms of a business. It was allowed to be engaged in business as the different companies (private or state), and to citizens.
That is, to this day, when we speak "businessman" we mean: a) the individual registered as the businessman (the self-seller), b) the company in the form of joint-stock company, limited liability company, the state corporation, etc.
The where established first basic rights of the businessman: to begin and fulfill business activity, to attract and use financial means, to form the business program independently, to conduct foreign economic activity, to operate business, to employ and dismiss the personnel, to dispose of profit, to use the state social insurance, to enter into alliances, associations, to protect the rights in a court.
The old laws are now cancelled or changed, but it should be pointed out that these basic legal rights serves as economic basic and now.

Basic laws about business in Russia
The Constitution of the Russian Federation in article 34 defines that: Everyone has the right for free use of the abilities and property for enterprise it is independent, on the risk, activities for systematic receiving profit on using property, sales of goods, rendering services. The enterprise subject (the citizen or the company) has to be registered in the special order by the law.
Article 18 of the Civil Code specially establishes the right of the citizen of a business activity. Article 23 of the Civil Code defines a particular order of such rights realization . The right to conduct business activity it is provided even to non-profit organizations if it corresponds their main purpose and the charter.
The Civil Code also defines the main forms of business firms (joint-stock company, limited liability, cooperative, others).
The company or the citizen wishing to perform business activity is obliged to be registered in local tax inspection. The order of registration is defined by the State Registration of Legal Entities and Self-sellers Act [8]. Markets Act was adopted.

Fundamental obligations of businessman
One of the law principle is the rights don't exist without duties. In other words, it is impossible to have and realize the rights if any obligations thus aren't executed. Among fundamental obligations of business subjects in Russia we call: a) Duty to pass the state registration in the order established by the law.
Only after registration business activity can be begun.
b) Duty to insure all types of the accounting of the income and expenses in economic activity. In Russia the accounting, tax, statistical accounting is kept. The basic law is the Accounting Act. The small business has significant benefits for the payment of taxes (lower rates) and accounting (simplified procedure).
c) On the basis of the account different kinds of reports should be formed. It is the accounting, statistical and tax reports which the company or self-seller must provide periodically to a control bodies. Usually the term of the reporting is 3 months (quarter), and for small business -1 year. But it is necessary to report to pension and social insurance funds quarterly. 2) Excises (different rates). It paid at sale of certain goods: oil products, alcohol and alcoholic beverages, tobacco, cars and motorcycles.
3) Tax on the personal income. If the citizen is registered by the businessman he pays a tax of 13 % on the income. But it should be note that same tax is paid also by other citizens who doesn't conduct business activity, for example, from a salary. It is interesting that a tax on business and the simple income of the person in Russia identical and quite low, nonprogressive.
4) Profit tax of the companies. This tax higher and averages 20 % on profit. The profit is defined as a difference of the general income and expenses.
Apparently, taxes for businessman in Russia are lower than in the majority of the countries of Europe and America, while by separate types of business the total tax burden can be considerable. For small and medium business there are advantages under financial statements presentation.

Protection of business rights
Sometimes Russia's debt is around 520 billion dollars, which is almost 40 times less. The external debt of China is 1.5 trillion dollars, i.e. 13 times less than in the US.
The debt of China is growing rapidly, the US debt has increased several times over the past few years, Russia's debt is reducing. Will put forward the thesis that to assess the efficacy and safety of the In connection with the foregoing, will offer two indicators: 1. The Coefficient of total taxes and average constant expenses (Kttae). It allows to estimate the decrease in profitability, taking into account the total amount of taxes (∑tt) and average constant expenses (∑ae) for a particular type of business in a particular region under specific conditions. Kttae = 100 / ( ∑tt + ∑ae ) (i) The practical use of the Coefficient of total taxes and average constant expenses allows to predict the real expected income from the business (Rr) based on the total expected income (Rex): The Coefficient is applicable for individual businesses. The Coefficient is applicable for individual industries or the country's economy as a whole.

CONCLUSION
Taking into account the aforesaid there is reason to believe that economic development and economic and financial security are directly dependent on the volume of business rights and their legal fixing and protection and also dependent on legal stability.
The world's economic leader, perhaps the United States, China, Russia or another country, should be determined in the next few years. Leadership will depend on many factors, including state policy in the field of economics, finance, external debt, as well as on the balance of rights and obligations of business entities, the balance in the protection of public and private economic interests, the dynamics of legislation and its stability.
Today, the United States is the leader in many economic indicators, Russia is the leader in the pace of development of the financial market and corporations, China has advantages in a huge and inexpensive labor force and the volume of commodity production. Such categories as: the rights and obligations of business, the stability of the legal system, the factorial impact of total business costs, the degree of information security, the volume and dynamics of legislation on the economic and financial system should be further developed in science.