ПОДАТКОВІ ІНСТРУМЕНТИ ФІНАНСОВОГО ПІДТРИМКИ МАЛОГО БІЗНЕСУ В РОСІЇ

This article is devoted to the study of the topic of tax levers for regulating the activities of small businesses in Russia. Tax aspects of business are included in the scope of financial support from the state for legal entities and individual entrepreneurs. The aim of the study is to analyze the tax instruments through which the state provides financial support to small businesses. The subject of the research is the measures of state financial support for small businesses in terms of taxation. In the course of the research, such methods were applied as: comparative, statistical, descriptive, analysis and synthesis. Research hypothesis. Identification of the optimal tax instruments for financial support of small business will allow the subjects of this sphere of the economy to function effectively without causing a conflict of interest between entrepreneurship and the state in paying taxes to the budget. Presentation of the main material. Small business entities in the Russian Federation have the right to state support in the form of financial, property, information, and consulting assistance. Financial assistance, as the most significant, consists in the provision of government subsidies, preferential types of loans, tax holidays, special tax regimes, simplified accounting procedures, etc. Tax instruments of financial support are of key importance for business entities, as they allow regulating the tax burden depending on the types of activities, the scale of the organization, the amount of income and many other factors. For Russian business entities, there are 5 taxation regimes, of which one is general and four special (preferential), tax holidays for small businesses and tax incentives for types of taxes. Originality and practical significance of the research. A comparative analysis of special tax regimes showed that the profitability of a particular tax regime is determined by the goals of the business, the scale and scope of activity. Conclusions and prospects for further use. The use of special tax regimes helps to optimize tax payments, and tax incentives reduce the tax burden of business entities. However, in the current conditions of the spread of the pandemic, increased attention from the state to small businesses is required in order to regulate the possible loss of profitability due to the introduction of restrictive measures, and, as a result, a decrease in the population's ability to pay, which, in turn, will negatively affect the replenishment of the country's budget with tax payments.

TAX COMPETITION, POLICY COMPETITION AND THE STRATEGIC USE OF POLICY RESTRICTIONS ON FOREIGN DIRECT INVESTMENTS

In a dynamic two-period model of tax competition, where competing countries strategically choose foreign investment restrictions which increases the sunk cost of investments, we show that choosing a higher level of restriction is beneficial for the competing countries. A higher level of restriction reduces competition and increases tax revenue in the later period, which allows the government to offer large tax holidays during the initial period of investment. The result is counter-intuitive as it is widely believed that sunk cost reduces foreign direct investments. Moreover, even though competing countries are ex-ante symmetric, the equilibrium choice of the level of restrictions may not be equal.

Dynamic tax competition between symmetric countries with multiple strategic investors

Two symmetric countries compete over two-period under a non-preferential taxation regime to attract multiple investors where investors are strategic and investments are sunk once invested. Contrary to the existing results, we find that tax holidays do not arise during the initial period. Equilibria in mixed strategies arise in both periods where competing countries set strictly positive tax rates during the initial period. Strategic interaction between large investors reduces competition and increases tax rates during the initial period. We provide full characterization and uniqueness of equilibria in mixed strategies.JEL classification: F21, H21, H25, H87

Impact of Tax Incentives on Foreign Direct Investment: Evidence from Africa

African countries have faced competition and several challenges to attract foreign direct investment given the role that FDIs play in the development process. Several efforts made have been futile because of numerous factors that play against the business environment for foreign investments. Our paper analyses the influence of tax incentives on foreign direct investment in African economies based on data from 2000–2018. We utilized panel data on forty (40) African countries and an econometric model of four proxies of tax incentives, after controlling other variables, with robust Random Effect as our discussion estimator. Our results revealed that FDI responds to lower corporate income tax (CTR). Furthermore, foreign direct investment predominates in African economies with longer tax holidays and withholding tax. However, tax concession is insignificant to the inflows of FDIs in Africa. Summarizing, our results recommend that without proper restructuring of the tax incentives to deal with policy lapses by the governments of Africa, achieving the four main goals, i.e., poverty eradication, sustainable growth and development, African integration in the competitive global economy, and women empowerment, will be hindered.

INFLUENCE OF THE TAX MECHANISM ON THE SOLUTION OF SOCIO-ECONOMIC PROBLEMS IN KAZAKHSTAN

В статье отмечается, что действующая налоговая политика как регулятор экономики, не выполняет в полной мере своей стимулирующей функции. В этой связи возникает настоятельная необходимость исследования и анализа действия механизма функционирования налоговых отношений с позиции социально-экономических проблем в сочетании с национальными особенностями Казахстана, накопленным отечественным опытом налоговой политики и сложившейся модели хозяйствования. Авторами статьи отмечается, что, будучи материальными носителями налоговых отношений, рассматриваемые финансовые ресурсы, представляют собой находящиеся в руках государства и имеющие форму фондов денежных средств целевого назначения. Их размер выступает важной характеристикой экономического и социального развития страны, а рациональное использование во многом определяет темпы общественного прогресса. Проведен анализ динамики ВВП и объема промышленности, доходов государственного бюджета Республики Казахстан за 2011-2020 годы, налоговых поступлений и размера недоимки по видам налогов за ряд лет. Выделено, что основными направлениями совершенствования налогового механизма и налоговой системы должны быть: предоставление налоговых каникул для малого бизнеса, рассрочка уплаты НДС, снижение налогообложения на дивиденды и прибыль при продаже ценных бумаг, увеличение предельного объема годового оборота для перехода на упрощенную схему взимания налогов и др. В статье предложены конкретные рекомендации по увеличению доходной части государственного бюджета, совершенствованию налоговой системы Казахстана. The article notes that the current tax policy as a regulator of the economy does not fully fulfill its stimulating function. In this regard, there is an urgent need to study and analyze the operation of the mechanism of the functioning of tax relations from the standpoint of socio-economic problems in combination with the national characteristics of Kazakhstan, the accumulated domestic experience of tax policy and the established economic model. The authors of the article note that, being the material carriers of tax relations, the considered financial resources are in the hands of the state and in the form of funds of targeted funds. Their size is an important characteristic of the country's economic and social development, and their rational use largely determines the rate of social progress. The analysis of the dynamics of GDP and the volume of industry, revenues of the state budget of the Republic of Kazakhstan for 2011-2020, tax revenues and the amount of arrears by types of taxes for a number of years is carried out. It is highlighted that the main directions of improving the tax mechanism and tax system should be: providing tax holidays for small businesses, payment by installments of VAT, reducing taxation on dividends and profits when selling securities, increasing the maximum volume of annual turnover for the transition to a simplified tax collection scheme, etc. The article offers specific recommendations for increasing the revenue side of the state budget, improving the tax system in Kazakhstan.

THE CENTRAL ASIAN ECONOMY DURING THE PANDEMIC: AN ANALYSIS OF SMALL AND MEDIUM BUSINESS SUPPORT STRATEGIES

This paper examines public policy towards small and medium-sized enterprises in the Central Asian countries during the COVID-19 pandemic. A study of analytical surveys for 2020 and 2021 produced by international organizations (such as the World Bank, the Asian Development Bank, KPMG, and the Organization for Economic Cooperation and Development), as well as of legal and regulatory documents and strategic programs adopted in the countries of Central Asia during the coronavirus pandemic, has made it possible to identify the advantages and disadvantages of government decisions regarding business and to analyze public strategies for supporting small and medium-sized enterprises. This analysis leads to the conclusion that the potential for economic recovery in the Central Asian countries is directly dependent on the measures taken by their governments to maintain and support the business sector. In particular, the study results show that the main business support tools during the coronavirus pandemic are mechanisms such as tax holidays for businesses, soft loans, loan restructuring and refinancing, and administrative support measures.

Tax incentives for industrial production in the system of public financial support

The article provides a theoretical justification for tax incentives for industrial enterprises under market conditions of their activities. According to modern economic theory, which is the basis of the domestic tax system, the most effective are horizontal and vertical structures to stimulate industrial production, able to increase production and sales of its competitiveness in world markets, and businesses to operate on self-financing and self-sufficiency. A set of general scientific and special methods of scientific cognition was used to solve the tasks set in the process of research. Application of a systematic approach, methods of induction and deduction, analysis and synthesis, which made it possible to comprehensively and comprehensively consider the theoretical foundations of tax incentives for industrial enterprises, to determine the results of the application of horizontal and vertical organization of tax incentives. When systematizing the results of tax incentives for industrial enterprises, methods of scientific generalization, analysis and synthesis were chosen. Given the importance of tax incentives for industrial enterprises in modern conditions in the domestic tax system, there are a number of unresolved issues, which are essentially debatable on the theoretical justification of this problem and its practical solution aimed at increasing production and sales of industrial products, expanding markets. The results of the study show that horizontal tax incentives are more acceptable, as the situation on the world market is changing very quickly, and business needs certainty, provided that the state determines which segments of the national economy are a priority. The efficiency of tax holidays, preferential rates, investment tax credits and free trade zones are more promising for the development of industrial production at the horizontal level. With a vertical strategy for the development of industrial production, priority is given to export-oriented investment tax credits, in particular tariff or tax benefits, investment benefits. The proposed measures of tax stimulation of industrial production will stimulate the development of enterprises using the strategy of modernization of the production base through the renewal of fixed assets, the introduction of advanced advanced technologies, financing of scientific developments. These measures can ensure synergies, especially if the equipment to be purchased by industrial enterprises will be domestically produced.

Sustainability of Recycling Waste Picker Sustainopreneurs for Prevention and Mitigation of Municipal Solid Waste in Swat

This study assessed the role of waste picker sustainopreneurs (WPS) by examining their recycling contributions in a special case of District Swat, Pakistan. Using a transformative worldview, this study acknowledges their contributions to recycling. The study envisages how entrepreneurial agency works in unanticipated ways where the poorest of the poor enterprise without resources demonstrate unexpected agency to improve the environment. An inductive research design in conjunction with grounded theory was used to analyze data from 37 interviews in three tehsils of District Swat. The recycling sector uses primitive measures, which are completely informal, self-organized, and self-controlled. Surprisingly, we discovered that informal recycling contributes unfavorably to waste, energy, and food (WEF) security due to intermixing and adulteration, as well as acts as a gray channel for illicit practices that have taken advantage of tax amnesty in the area until 2023. The uncontrolled welding of half cut and nose cut car parts has skyrocketed the motorization index and CO2 emissions; however, it has also resulted in alternative sources of livelihoods, as these accidental environmentalists had found modern sources of income. This is similar to low-tech innovation and business creation that takes advantage of tax holidays due to the special status of District Swat. The study highlights the most and least valuable recyclables and identifies the gray channel markets of spare parts, metal recycling, counterfeit products, fuel intermixing, and adulteration. The study contributes by untangling the understanding of a legal gambit of tax amnesty at a critical pre-policy input as well as advocates for rights of invisible stakeholders of waste management in Pakistan.

Menarik Investasi Ke Indonesia Dengan Tax Holiday

This research contains about how tax holiday as one of the tax incentives used by the Indonesian government to attract investment Ease of Doing Business index (EoDB) released by the World Bank. Tax holiday is expected to be able to provide a positive signal to investors that Indonesia is the right country to invest in. In this paper it was found that tax holidays are not capable of attracting investment alone, but other factors are needed in order for tax holidays to be successful in attracting investment. Penelitian ini berisi tentang bagaimana tax holiday sebagai salah satu insentif pajak yang digunakan oleh pemerintah Indonesia untuk menarik investasi Karena pajak merupakan salah satu yang menjadi perhitungan dalam indeks kemudahan bisnis yang dirilis oleh Bank Dunia. Tax holiday diharapkan mampu memberikan sinyal positif kepada para investor bahwa Indonesia adalah negara yang tepat untuk berinvestasi. Dalam penelitian ini dtemukan bahwa tax holiday tak mampu sendirian menarik investasi, akan tetapi dibutuhkan faktor-faktor lain agar tax holiday berhasil menarik investasi,