The state of the budget system as a reflection of the need for structural modernization and ensuring the technological sovereignty of the oil and gas industry of Russia. Part 2
Subject. The article discusses consolidated and federal budgets of Russia for 2017–2024. Objectives. The purpose is to establish the current state of affairs in the budget system and determine the relevance of the current tax policy in relation to oil and gas revenues in the context of economic sanctions. Methods. The study employs methods of comparative analysis and generalization of budget system documents. Results. The paper established the need to ensure reliable forecasting within the entire budget system, where oil and gas revenues still play an important role in ensuring balance, to review the main taxation instruments of the oil and gas industry for the development of oil refining and petrochemical. It determined that the price of Urals crude oil is one of the key instruments for generating income and ensuring the balance of the entire budget system. Furthermore, the tax maneuver has not yet contributed to a noticeable increase in the depth of oil refining in the country and represents a rather limited mechanism of manual control, while the rules for calculating taxes on the extraction of mineral resources and additional income from the extraction of hydrocarbon raw materials are quite complex. The price of Urals crude oil and the ruble exchange rate do not fully depend on government actions, replenishment of the National Welfare Fund is difficult, access to external sources of financing the country's deficit is limited, and raising funds through domestic loans seems to be quite expensive. Conclusions. Reliable forecasting at the level of the entire budget system and reduction of oil and gas dependence are of particular importance. It is necessary to adjust the articles of the Tax Code of the Russian Federation and the Law of the Russian Federation "On Customs Tariff" related to oil and gas revenues.
Keywords: budget system, oil and gas revenues, balance, oil refining, petrochemicals
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