Home  Journals  Finance and Credit  40(616) - 2014 October

Government tax policy: the essence, implementation mechanism and prospects

Available online: 26 October 2014

Subject Heading: Taxes and taxation

JEL Classification: 

Pages: 27-36

The article states that a tax policy is closely interconnected with other segments of economic policy of the State, i.e. budget, customs, foreign exchange, etc. However, within the framework of economic policy its aim is to promote creating conditions for economic growth on the basis of increased competitiveness of economic entities. One of major goals of the tax policy is to provide financial resources that the State needs to perform the functions it has undertaken (defense, law enforcement, national security, country management system, economy and social security). This purpose has an explicit focus. For instance, the aim of the tax policy is to influence the processes of social and economic development of the country. Besides, we observe abolition of some taxes due to their costly administration (e.g. tax on dog owners), insignificance for budget, or double taxation (for instance in retail trade there was a sales tax on goods with VAT), etc. The State introduces new taxes instead of abolished obligatory payments (e.g. introduction of royalty instead of contributions to replace mineral raw material base). By comparing and analyzing various definitions of the "tax policy" concept, the authors disclose its essence and define the prospects and structure of a tax regulation mechanism. The authors emphasize that scientific works devoted to various tax policy aspects and encyclopedic dictionaries provide various definitions of this concept and make an attempt to classify them. The conclusion of the study is that in recent years predictability has been a typical feature of the national tax system development owing to publication of the main areas of the Russian tax policy for a mid-term (three years) perspective. This enables the business community and individual enterprises to adjust their economic behavior in investment and financial spheres of their activity.

Keywords: tax policy, fiscal policy, financial resources, tax rates, patent system, taxation, tax preferences, tax holidays, depreciation bonus, tax deductions

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