The main aim of the paper is to define place of budget law in the system of Russian law as well as boundaries of budget law legal scope. Author tries to justify that budget law is a sub-branch of financial law. It regulates just some groups of relations concerning collecting of budget revenues and implementation of budget expenditures. Conclusions of the paper are based on researches of soviet and modern scientists; court practice is used as well.

Before a person can be prosecuted and convicted for insider trading, he must first execute the overt act of trading. If no sale of security is consummated, no crime is also consummated. However, through a complex and insidious combination of various financial instruments, one can capture the same amount of gains from insider trading without undertaking an actual trade. Since the crime of insider trading involves buying or selling a security, a more sophisticated insider can circumvent the language of the Securities Regulation Code by replicating the economic  equivalent of a sale without consummating a sale as defined by law.

Through the use of financial derivatives in the form of options, swaps, and forwards, an insider who is not a shareholder in a company can obtain economic exposure to changes in the market value or price of shares of stock, without purchasing or obtaining ownership of the shares. The actual stockholder or dealer of security transfers his economic exposure to the insider, but retains all stockholder rights. The insider obtains returns associated with the share of stock by assuming the financial risks inherent in stock ownership, while the person holding the shares of stock is insulated from such risks.

This paper demonstrates how constructive trades circumvent the insider trading law by allowing an insider to obtain economic exposure over a share of stock without obtaining or divesting his title over the stock.

The article considers the main directions of harmonization in the area of direct taxation in the Eurasian Economic Union (EAEU). Harmonization of direct taxes in the EAEU does not have such a broad legal basis as harmonization of indirect taxes. At the same time, the necessity of harmonization in the area of direct taxation is due to the need to create equal conditions for the implementation of economic activities and to ensure the functioning of the non-discrimination regime in the member states of the EAEU. The article also examines the actions of the EAEU member states on the implementation of the BEPS Action Plan in the national tax legislation.

The aim of this article is through comparative presentation of Polish special economic zones and Serbian free zones, paying attention to specific incentives they render in order to attract the investments and their coherence with the EU laws. These incentives include the use of various import duties and/or tax reliefs or exemptions and state aid support. Within the frames which allow the EU laws protecting market competition and based on up to date good practices in Poland and other EU member states, these zones have substantial positive impact to countries economic development, but also need further to develop innovative solutions for attraction of effective investments to their locations.

The following article presents reflections on modern methods of payment in light of the changing essence of money and its function. In modern times the ambiguous concept of money and the method of its issue have constitutional relevance in view of the fact that money is not backed by bullion any longer. Meanwhile, in addition to money in its pure form, there are other methods of payment arousing discussion such as: monetary means, electronic money or virtual currencies. This raises questions as to the acceptable forms of payment and the legal consequences of using means of payment other than money in the strict sense. This paper presents selected items from among the complex legal issues concerning money and payment in order to outline the typical ways to resolve legal problems of using the modern methods of payment.

In the paper it is observed that methodology of traditional legal dogmatics omits the philosophical problem known as the “is−ought problem” or “Hume’s guillotine” according to which it is not logically possible to derive normative statements from descriptive statements and vice versa. Dogmatic arguments based on interpretation of a fragment of the system of law nevertheless contain comments and recommendations on empirical reality which that fragment of law regulates. It is shown in the paper that in doing so, their authors include enthymemes in their arguments, which are syllogisms with hidden premises. Since law belongs to the wider category of humanities, these enthymemes are of rhetorical kind, and this calls for increased caution in order to avoid theoretical fallacies which may result in misguided changes in the system of law.