Tax policy as a toolkit on ensuring the conditions for the formation of a favourable business environment in a post-crisis economy
Keywords:
globalization, world economic crisis, economic sanctions, post-crisis economy, tax policy, business environment, entrepreneurial activity, economic growth.Abstract
The post-crisis development of the domestic economy brings into focus the need to find new sources of economic growth. One of the directions is the development of an effective tax policy. Exhausted potential of the economic growth model based on domestic and foreign demand is already evident. As a minimum, an immediate modification of the entire infrastructure of the financial and credit market is required. In these conditions, urgent proactive changes are needed; it is necessary to ensure transparency, provide effective tax incentives, increase the availability of credit and financial resources, etc. The group of key macroeconomic factors that negatively affect economic dynamics can be corrected by creating a set of priority tax policy instruments, which will neutralize the negative effect of dysfunctions of the financial system and ensure the business level and growth of investment activity in the national economy. The next global financial crisis aggravated by economic sanctions increased the impact of supranational institutions and increased the role and importance of state regulation in the Russian economy, and, first of all, in the field of tax institution activities. The importance of such coordination was shown as a result of the global economic crisis, the main reasons for which were systemic deficiencies in the implementation of regulatory macroeconomic policies; arbitrary use of innovative financial instruments; the chaotic development of aggressive lending technologies by commercial banks; improper use of methods for assessing investment risks, etc. The need for a theoretical and methodological study of modern tax policy structure in order to ensure a favourable business environment in the post-crisis economy prompted us to tackle this research topic.
Downloads
References
Avdokushin E.F. 2008. Some features of the world economy globalization process. Questions of a new economy, 3, 18-24
Akindinova N.V. 2009. How will the crisis end? Medium-term scenarios for the development of the global and Russian economy. Foresight, 4, 22-35
Bashkatova A. 2011. Globalism with a human face: "Washington Consensus" could not stand the test of the economic crisis. Nezavisimaya gazeta, April 6.
Branson R. 2010. Nude business. - M., 326 p.
Vazarkhanov I.S. 2010. Development of tax institutions based on a competency-based approach. - Rostov- on-Don: RINH, - 216 p.
Gauzhaev A.Z., Mairov A.Yu., Misakov V.S. 2013. Institutional and organizational context of the strategy of modernization of the development of regional industrial complexes. Terra Economicus, 11(2-2), 62-66.
Dukanich L.V. 2009. Organizational aspect of taxation management in the region: characteristics and directions of improvement. Tax Bulletin, 4, 32-40.
Kollontai V.N. 2004. Neoliberal concepts of development of financial institutions in the context of globalization. Philosophy of Economy, 3, 124-131.
Misakov V.S., Betrozov M.Kh. 2012. Factors and conditions contributing to the growth of threats to the economic security of the regional economy. Terra Economicus, 10(4-3), 169-172.
Misakov V.S., Inalov B.A.M., Eskarkhanov L.U. 2013. The role and content of the risk management system. Terra Economicus, 11(2-2), 28-32
Pappe Ya.Sh. 2002. Russian big business as an economic phenomenon: specific features, models of its organization. Problems of forecasting, 2, 187-194.
Romanovsky M.V. 2009. Taking into account the risk factor in making strategic decisions in the context of the crisis development of the economy. Bulletin of St. Petersburg University of Economics and Finance, 1, 145- 162
Chernik D.G. 2012. Tax incentives for innovation and development of small and medium-sized businesses. Finance, 9, 141-148
Shelepov V.G. 2012. Methodology for assessing the borrower's creditworthiness using fuzzy logic tools. Economic and social sciences, 4. - [Electronic source]. - http://ecsh.ru/download/jornal/201204 (access date 21.12.2012)
Tsurova L.A., Musaev M.M., Kushkhov A.P., Misakov A.V., Misakov V.S. 2019. Ecjlogical settlements as one of perspective forms for Russia rural territory multifunctional development. International Transaction Journal of Engineering, Management and Applied Sciences and Technologies, 10(1), 135-142.
Downloads
Published
How to Cite
Issue
Section
License
You are free to:
- Share — copy and redistribute the material in any medium or format for any purpose, even commercially.
- Adapt — remix, transform, and build upon the material for any purpose, even commercially.
- The licensor cannot revoke these freedoms as long as you follow the license terms.
Under the following terms:
- Attribution — You must give appropriate credit , provide a link to the license, and indicate if changes were made . You may do so in any reasonable manner, but not in any way that suggests the licensor endorses you or your use.
- No additional restrictions — You may not apply legal terms or technological measures that legally restrict others from doing anything the license permits.
Notices:
You do not have to comply with the license for elements of the material in the public domain or where your use is permitted by an applicable exception or limitation .
No warranties are given. The license may not give you all of the permissions necessary for your intended use. For example, other rights such as publicity, privacy, or moral rights may limit how you use the material.