Nosov A.V., Novichkova O.V., Boryaeva T.F. Tax Incentives for Investment Activity in the Agricultural Sector of the Penza Region

Abstract: The subject of the research is the economic relations and functioning mechanism of tax tools in the agricultural sector. The object of the research is the taxation system in the agricultural sector of the Penza Region. Taxation system plays a very important role in the development of all sectors of national economy including agriculture. Special emphasis is made on the possibility of application of tax instruments for supporting innovative investment activity of enterprises. The authors have analyzed the structure of the taxes payable in the region as well as the share of tax payments made by agricultural organizations into the budget of the Penza region and tax payment completeness. The authors have also calculated the tax burden based on several methods which allows to evaluate the level of the tax burden of agricultural organizations. The authors examine such aspects of the topic as improving tax legislation, in particular, creation of the system of tax preferences encouraging formation and rational implementation of external sources of finances of investment and innovation activities by organizations. In the course of their research the authors have used the abstract-logic, monographic, statistical-economic, graphical, mathematical and other methods of economic research. They have defined the value of such tax tool as returnable tax financing. According to the authors, on the one hand, implementation of returnable tax financing will be an additional tax rebate for an investor, and on the other hand, it will contribute to the development of the infrastructure of rural areas which will, in its turn, encourage a successful implementation of federal target programs. 

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