Problems of Creating a Favorable Investment Climate in Russian Regions
The purpose of this paper is to identify the budget- and tax-related problems as may occasionally arise from the interaction of federal and sub-federal authorities hampering the growth of the investment attractiveness of regions, and to develop recommendations on their solution. To this end, a syst...
| Main Authors: | , , , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
EconJournals
2016-12-01
|
| Series: | International Journal of Economics and Financial Issues |
| Online Access: | https://www.econjournals.com/index.php/ijefi/article/view/3756 |
| _version_ | 1797918359205969920 |
|---|---|
| author | Milyausha R. Pinskaya Marina V. Melnichuk Svetlana V. Frumina Anna V. Tikhonova |
| author_facet | Milyausha R. Pinskaya Marina V. Melnichuk Svetlana V. Frumina Anna V. Tikhonova |
| author_sort | Milyausha R. Pinskaya |
| collection | DOAJ |
| description |
The purpose of this paper is to identify the budget- and tax-related problems as may occasionally arise from the interaction of federal and sub-federal authorities hampering the growth of the investment attractiveness of regions, and to develop recommendations on their solution. To this end, a system of indicators and a typological scale have been developed to rank the Russian Federation subjects according to efforts of their regional authorities to build up local tax bases. To provide conditions for “holding” an investor in the territory of a federal subject for a long-term period, it is suggested that the existing subsidy rules be supplemented with tax characteristics. The taxing powers of regions in providing territory-oriented tax incentives are analyzed. The weak points of the powers division that lead to distortion of the local tax competition are identified along with the proposal of measures towards their elimination.
Keywords: Budgetary subsidies; tax incentives; favorable investment climate; tax competition.
JEL Classifications: H2, O16, R42
|
| first_indexed | 2024-04-10T13:27:54Z |
| format | Article |
| id | doaj.art-69692b1334bf4e85a40987ef9cfd2b51 |
| institution | Directory Open Access Journal |
| issn | 2146-4138 |
| language | English |
| last_indexed | 2024-04-10T13:27:54Z |
| publishDate | 2016-12-01 |
| publisher | EconJournals |
| record_format | Article |
| series | International Journal of Economics and Financial Issues |
| spelling | doaj.art-69692b1334bf4e85a40987ef9cfd2b512023-02-15T16:11:47ZengEconJournalsInternational Journal of Economics and Financial Issues2146-41382016-12-0168SProblems of Creating a Favorable Investment Climate in Russian RegionsMilyausha R. PinskayaMarina V. MelnichukSvetlana V. FruminaAnna V. Tikhonova The purpose of this paper is to identify the budget- and tax-related problems as may occasionally arise from the interaction of federal and sub-federal authorities hampering the growth of the investment attractiveness of regions, and to develop recommendations on their solution. To this end, a system of indicators and a typological scale have been developed to rank the Russian Federation subjects according to efforts of their regional authorities to build up local tax bases. To provide conditions for “holding” an investor in the territory of a federal subject for a long-term period, it is suggested that the existing subsidy rules be supplemented with tax characteristics. The taxing powers of regions in providing territory-oriented tax incentives are analyzed. The weak points of the powers division that lead to distortion of the local tax competition are identified along with the proposal of measures towards their elimination. Keywords: Budgetary subsidies; tax incentives; favorable investment climate; tax competition. JEL Classifications: H2, O16, R42 https://www.econjournals.com/index.php/ijefi/article/view/3756 |
| spellingShingle | Milyausha R. Pinskaya Marina V. Melnichuk Svetlana V. Frumina Anna V. Tikhonova Problems of Creating a Favorable Investment Climate in Russian Regions International Journal of Economics and Financial Issues |
| title | Problems of Creating a Favorable Investment Climate in Russian Regions |
| title_full | Problems of Creating a Favorable Investment Climate in Russian Regions |
| title_fullStr | Problems of Creating a Favorable Investment Climate in Russian Regions |
| title_full_unstemmed | Problems of Creating a Favorable Investment Climate in Russian Regions |
| title_short | Problems of Creating a Favorable Investment Climate in Russian Regions |
| title_sort | problems of creating a favorable investment climate in russian regions |
| url | https://www.econjournals.com/index.php/ijefi/article/view/3756 |
| work_keys_str_mv | AT milyausharpinskaya problemsofcreatingafavorableinvestmentclimateinrussianregions AT marinavmelnichuk problemsofcreatingafavorableinvestmentclimateinrussianregions AT svetlanavfrumina problemsofcreatingafavorableinvestmentclimateinrussianregions AT annavtikhonova problemsofcreatingafavorableinvestmentclimateinrussianregions |