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    RUSSIAN BUSINESSMEN CAN HAVE ETHICS CHARTER

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    MOSCOW, March 18, 2004. (RIA Novosti) - The Russian Union of Industrialists and Entrepreneurs (RSPP) intends to adopt a charter on corporate social ethnics, RSPP Chief Arkady Volsky said at a press conference on Thursday.

    "At our nearest session, we are going to adopt a law on corporate ethics. Perhaps, this will be not even a law but a charter," said Mr. Volsky. He added that the text of this document was ready.

    In his words, "this will undoubtedly be a forced measure because failure to comply with the norms of the charter will lead to a boycott of the enterprise." "This will be more scary than fining," said Mr. Volsky.

    Major requirements of the charter will be to increase and provide jobs at an enterprise. Plus, the charter will regulate the size of average wages and the norms of the single social tax, said the RSPP chief.

    According to Mr. Volsky, RSPP experts are actively working over standards of social accountability at enterprises. The introduction of such standards in Russia will help develop social culture and corporate responsibility at enterprises, Mr. Volsky said.

    The RSPP is paying considerable attention to amendments of the single social tax legislation. "We have submitted a proposal to cut the single social tax by 5-7% to the government, and also to abolish taxation of charity organisations," said the RSPP head.

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