Financial and Tax Regulation of the Housing and Utilities Sector: Foreign Experience

The article is devoted to solving the urgent task of the expanding the sources of extrabudgetary funding of the housing and utilities secor through the use of elements of tax regulation. The purpose of the study is to analyze and summarize the literature on foreign experience in financing and tax re...

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Main Authors: Sergey V. Bogachov, Sergey I. Kravchenko
Format: Article
Language:English
Published: Financial Research Institute 2022-06-01
Series:Финансовый журнал
Subjects:
Online Access:https://www.finjournal-nifi.ru/images/FILES/Journal/Archive/2022/3/statii/07_3_2022_v14.pdf
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author Sergey V. Bogachov
Sergey I. Kravchenko
author_facet Sergey V. Bogachov
Sergey I. Kravchenko
author_sort Sergey V. Bogachov
collection DOAJ
description The article is devoted to solving the urgent task of the expanding the sources of extrabudgetary funding of the housing and utilities secor through the use of elements of tax regulation. The purpose of the study is to analyze and summarize the literature on foreign experience in financing and tax regulation of the housing and communal sphere and to assess the possibilities of its application in Russian practice. Methods of comparison, grouping, logical generalization, tabular presentation of data, expert evaluations were used for the study. As a result of the research, the features of the housing and utilities sphere as an object of financial and tax regulation were revealed. The authors characterized the models and methods of financing of sector used in the EU countries, the USA, China and India, including the degree of state intervention, distribution of powers and responsibilities by management levels, use of the mechanism of publicprivate partnership, creation of joint ventures with foreign capital, issue of infrastructure bonds, implementation of energy saving programs. The approaches to issuing municipal infrastructure bonds in the U.S. and India are presented. Attention is focused on the differences in the distribution of EU countries in terms of the volume and structure of the use of the public-private partnership mechanism. The sources of financing for the implementation of energy efficiency projects in the EU countries are systematized. The article analyzes the foreign practice of tax regulation to increase the investment attractiveness of financial instruments in the modernization of utility infrastructure facilities, exemption from taxation of municipal infrastructure bonds in the United States and India, and improving energy efficiency in the housing sector through the use of tax incentives for the implementation of energy efficiency projects and energy service contracts in Italy, the Netherlands, Romania, Slovenia, the Czech Republic and Sweden. The article also substantiates the possibilities of adapting those methods of financial and tax regulation of infrastructure bonds turnover and implementation of energy service contracts to expand non-budgetary sources of the housing and communal sphere financing in the Russian Federation.
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spelling doaj.art-984ae630aeed4ee0b3f1ed6936912b9c2022-12-22T02:39:25ZengFinancial Research InstituteФинансовый журнал2075-19902658-53322022-06-0114No. 310211510.31107/2075-1990-2022-3-102-115Financial and Tax Regulation of the Housing and Utilities Sector: Foreign ExperienceSergey V. Bogachov0https://orcid.org/0000-0002-8938-0315Sergey I. Kravchenko1https://orcid.org/0000-0001-8391-0445Financial University under the Government of the Russian Federation, Moscow 125167, Russian FederationFinancial University under the Government of the Russian Federation, Moscow 125167, Russian FederationThe article is devoted to solving the urgent task of the expanding the sources of extrabudgetary funding of the housing and utilities secor through the use of elements of tax regulation. The purpose of the study is to analyze and summarize the literature on foreign experience in financing and tax regulation of the housing and communal sphere and to assess the possibilities of its application in Russian practice. Methods of comparison, grouping, logical generalization, tabular presentation of data, expert evaluations were used for the study. As a result of the research, the features of the housing and utilities sphere as an object of financial and tax regulation were revealed. The authors characterized the models and methods of financing of sector used in the EU countries, the USA, China and India, including the degree of state intervention, distribution of powers and responsibilities by management levels, use of the mechanism of publicprivate partnership, creation of joint ventures with foreign capital, issue of infrastructure bonds, implementation of energy saving programs. The approaches to issuing municipal infrastructure bonds in the U.S. and India are presented. Attention is focused on the differences in the distribution of EU countries in terms of the volume and structure of the use of the public-private partnership mechanism. The sources of financing for the implementation of energy efficiency projects in the EU countries are systematized. The article analyzes the foreign practice of tax regulation to increase the investment attractiveness of financial instruments in the modernization of utility infrastructure facilities, exemption from taxation of municipal infrastructure bonds in the United States and India, and improving energy efficiency in the housing sector through the use of tax incentives for the implementation of energy efficiency projects and energy service contracts in Italy, the Netherlands, Romania, Slovenia, the Czech Republic and Sweden. The article also substantiates the possibilities of adapting those methods of financial and tax regulation of infrastructure bonds turnover and implementation of energy service contracts to expand non-budgetary sources of the housing and communal sphere financing in the Russian Federation.https://www.finjournal-nifi.ru/images/FILES/Journal/Archive/2022/3/statii/07_3_2022_v14.pdfhousing and communal spherefinancial and tax regulationforeign experiencepublicprivate partnershipinfrastructure bondsenergy efficiency projectsenergy service contracts
spellingShingle Sergey V. Bogachov
Sergey I. Kravchenko
Financial and Tax Regulation of the Housing and Utilities Sector: Foreign Experience
Финансовый журнал
housing and communal sphere
financial and tax regulation
foreign experience
publicprivate partnership
infrastructure bonds
energy efficiency projects
energy service contracts
title Financial and Tax Regulation of the Housing and Utilities Sector: Foreign Experience
title_full Financial and Tax Regulation of the Housing and Utilities Sector: Foreign Experience
title_fullStr Financial and Tax Regulation of the Housing and Utilities Sector: Foreign Experience
title_full_unstemmed Financial and Tax Regulation of the Housing and Utilities Sector: Foreign Experience
title_short Financial and Tax Regulation of the Housing and Utilities Sector: Foreign Experience
title_sort financial and tax regulation of the housing and utilities sector foreign experience
topic housing and communal sphere
financial and tax regulation
foreign experience
publicprivate partnership
infrastructure bonds
energy efficiency projects
energy service contracts
url https://www.finjournal-nifi.ru/images/FILES/Journal/Archive/2022/3/statii/07_3_2022_v14.pdf
work_keys_str_mv AT sergeyvbogachov financialandtaxregulationofthehousingandutilitiessectorforeignexperience
AT sergeyikravchenko financialandtaxregulationofthehousingandutilitiessectorforeignexperience