Abstract: The subject of the study is the investment tax deduction for corporate income tax as a tool for tax incentives for the development of innovative territorial clusters in Russia. The characteristic features of the cluster approach in the economy are noted. Special attention is paid to the federal programs of the Ministry of Economic Development of the Russian Federation to support the development of innovative territorial clusters. The main advantages of tax incentives over other forms of state support for cluster development are highlighted. The benefits related to clusters available in the tax legislation are described. The analysis of the emerging regulatory framework of the subjects of the Federation on the investment tax deduction for corporate income tax is carried out. The conclusion is made about the importance of state support for the development of innovation clusters, which, in the conditions of termination of direct financing in the form of subsidies, can be carried out in the form of tax incentives for investment and innovation activity of cluster participants. The analysis of regional legislation revealed that the current structure of the investment tax deduction in some subjects of the Federation is "overloaded" not always with objective restrictions or overstated requirements, which significantly limit its availability to taxpayers and reduce its effectiveness. It is proposed to direct the benefits to the participants of innovative territorial clusters in their home regions, which, thanks to the synergetic effect generated in them, will lead to an increase in tax revenues of these regions in the future.

Abstract: The subject of this research is the theoretical and practical aspects of implementation of the regional investment projects (RIP) and special investment contracts (SIC), and prospects of their use as the instruments for incentivizing the development of innovation and industrial clusters in Russia. The article reveals the essence of cluster approach and its evolution in the Russian practice. The author meticulously examines the peculiarities of preferential tax regimes within the framework of RIP and SIC. Special attention is given to the conceptual changes of the legislation on SIC, and analysis of their impact upon the efficiency of the mechanism of SIC. The following conclusions were made: 1) preferential tax regime of RIP, being convenient, transparent and highly demanded by representatives of business sector, is presented as promising for supporting cluster participants; 2) novelties of the legislation on SIC contribute to the increase of its attractiveness for investors, including cluster participants; 3) tax regime of SIC may serve as the instrument for incentivizing such vectors of development of the cluster approach in Russia, as realization of joint projects of cluster participants, development of interregional clusters and intercluster cooperation.

Abstract: This article is dedicated to the analysis of clusters as a new unique factor of increasing competitiveness in modern economy. The  author examines various approaches towards examination of the concept of clusters, determines their characteristic features and generated effects. The description is given to common and specific features of clusters. Particular attention is paid to the presence of synergetic effects in cluster due to its special structure. Based on the Triple Helix Model, the author reveals the mechanism for generating innovations as a result of interaction of the key economic agents within the framework of the cluster. The author presents an original definition of clusters. The conclusion is made that the characteristic features of clusters and the emerging within them synergetic effects increase competitiveness between the separate members of cluster and the cluster as a whole, as well as competitiveness of the region, in which the cluster is located, thereby leading to increased competitiveness of national economy.