scholarly journals REGINAL BUDGETS IN THE FIRST QUARTER OF 2019: IS THERE GROWTH POTENTIAL?

Federalism ◽  
2019 ◽  
pp. 172-185
Author(s):  
L. N. Lykova
Keyword(s):  
Russian Federation ◽  
Income Tax ◽  
Federal Budget ◽  
Growth Potential ◽  
Budget Deficits ◽  
Personal Income Tax ◽  
Revenue Growth ◽  
The Russian Federation ◽  
Regional Budgets ◽  
Budget Revenue

There has been an increase of the RF subjects consolidated budgets revenues in the first quarter of 2019. It takes place together with the slowdown in economic growth. The basis of this budget revenue growth was formed by corporate income tax receipts (results of final calculations of previous year), personal income tax and excise. In contrast to the Federal budget, the subjects of the Russian Federation used most of the revenue growth to increase  funding at the beginning of the year. Тhus, in the first quarter of the year, the priorities for the consolidated budgets of the subjects of the Russian Federation were education, social policy and housing and communal services. At the same time, the volume of investments in fixed capital at the expense of regional budgets has significantly decreased, largely determining the overall dynamics of this indicator. The problem of budget deficits remains for several Russian regions despite the positive dynamics of revenues. It requires restraining the growth of key budget expenditures.

scholarly journals Consolidated Budgets of the Subjects of the Russian Federation in 2020: Opportunities for Fulfilling Obligations in the Context of the Crisis

Federalism ◽  
2021 ◽  
pp. 207-220
Author(s):  
L. N. Lykova
Keyword(s):  
Russian Federation ◽  
Income Tax ◽  
Budget Deficits ◽  
Intergovernmental Transfers ◽  
Pronounced Increase ◽  
Global Pandemic ◽  
Regional Budget ◽  
Support Employment ◽  
The Russian Federation ◽  
Regional Budgets

In the context of the economic crisis of 2020, triggered by the global pandemic, regional budgets faced a pronounced drop in tax revenues. The regions, whose economy is based on the extractive sector and metallurgy were most seriously affected. The drop in corporate income tax receipts in some regions was critical. At the same time, due to the implemented measures to support employment and income of the population, the personal income tax receipts have even increased. The most important element of supporting regional budget revenues was a significant increase in federal transfers. In fact, all categories of intergovernmental transfers (grants, subsidies, subventions, and other transfers) were used to support regional budgets. At the same time, the most financially prosperous subjects of the Russian Federation solved the problems that arose mainly at the expense of their own reserves. The result was the ability of the regions to increase spending in the most important areas (health, social policy). Nevertheless, it was not possible to avoid a pronounced increase in budget deficits of the subjects the Russian Federation and an increase in the volume of state sub-federal debt.

Receiving a social tax deduction on personal income tax through an employer: amendments to the Tax Code of the Russian Federation

2021 ◽  
pp. 25-31
Author(s):  
O.V. Shinkareva ◽  
S.A. Kormacheva
Keyword(s):  
Russian Federation ◽  
Income Tax ◽  
Personal Income ◽  
Personal Income Tax ◽  
Tax Deductions ◽  
The Russian Federation ◽  
To Receive ◽  
Tax Deduction

Article analyzes changes which the employers performing functions of the tax agent on an income tax will face since the beginning of 2022. Changes have been made to the Tax Code of the Russian Federation, which not only expand the range of social tax deductions, but also in some cases change the format of interaction between the employer and the employee, which he decided to receive a social tax deduction for personal income tax. The peculiarities of obtaining various types of social tax deductions through the employer, changes that will come into force in 2022 in this area, as well as the necessary documents are disclosed on the basis of which the employer provides the employee with social tax deductions.

On the taxation of deposits and bonds and the need to qualify passive income

2021 ◽  
Vol 27 (4) ◽  
pp. 875-893
Author(s):  
Ol'ga S. BELOMYTTSEVA ◽  
Anna S. BALANDINA
Keyword(s):  
Comparative Analysis ◽  
Russian Federation ◽  
Income Tax ◽  
The State ◽  
Individual Investors ◽  
Personal Income Tax ◽  
Interest Income ◽  
State Classification ◽  
The Russian Federation

Subject. The article discusses the taxation of interest income from deposits and bonds in the Russian Federation from perspectives of individual investors and the State, classification of people’s income into active and passive. Objectives. We outline actions to adjust the fiscal policy on personal income tax to unify the taxation and stimulate the innovating activity of individuals. Methods. The study is based on methods of logic and comparative analysis. Results. Tactically, payers of interest income are now bound to inform taxpayers on accrued interest income, and the need to qualify coupons of government, municipal and corporate bonds for relief. The strategic result is determined as the need to qualify active and passive income. Conclusions and Relevance. The findings can be an agenda of the State Duma of the Russian Federation and promulgated in the Tax Code of the Russian Federation.

scholarly journals An Empirical Analysis of the Effects of Budget Deficits (Total and Primary) and Personal Income Tax Rates on the Ex Post Real Interest Rate Yield on Long-Term U.S. Treasury Bonds

2019 ◽  
Vol 11 (2) ◽  
pp. 203-218
Author(s):  
Richard J. Cebula
Keyword(s):  
Interest Rate ◽  
Income Tax ◽  
Real Interest Rate ◽  
Budget Deficit ◽  
Federal Budget ◽  
Personal Income ◽  
Budget Deficits ◽  
Personal Income Tax ◽  
Treasury Bonds ◽  
Ex Post

This empirical study adopts an open-economy loanable funds model to investigate the impact of post-Bretton Woods U.S. federal government budget deficits and personal income tax rates on the ex post real interest rate yield on thirty-year Treasury bonds. In this study, the budget deficit is measured in two different ways, the total (“unified”) budget deficit and the primary deficit (the total/unified deficit minus net interest payments). Two different estimation techniques, autoregressive two stage least squares estimation and the ARCH (Autoregressive Conditional Heteroscedasticity) Method, for the 1973-2016 study period provide evidence that the ex post real interest rate yield on thirty-year Treasury bonds has been an increasing function of both federal budget deficit measures (expressed as a percent of GDP) and the maximum marginal federal personal income tax rate. The estimations all imply that elevating either the total/unified or primary federal budget deficit appears to raise the cost of borrowing in the U.S., whereas reducing the maximum marginal personal income tax rate appears to reduce the cost of borrowing. Given the potential effects of longer-term real interest rates on investment in new plant and equipment and overall economic growth, policy-makers should not overlook these findings.

CORPORATE INCOME TAX: ANALYSIS OF RECEIPTS TO THE FEDERAL BUDGET OF THE RUSSIAN FEDERATION

2021 ◽  
Vol 3 (12) ◽  
pp. 54-59
Author(s):  
Rosita B. Khapsaeva ◽  
◽  
Agunda R. Tsirikhova ◽  
Keyword(s):  
Russian Federation ◽  
Special Interest ◽  
Income Tax ◽  
Federal Budget ◽  
Corporate Income Tax ◽  
Scientific Article ◽  
Direct Impact ◽  
Tax System ◽  
Financial Condition ◽  
The Russian Federation

Corporate income tax is one of the main budget-forming taxes of the tax system of the Russian Federation. The increased attention of researchers to the problems of profit taxation is explained by the fact that this tax forms a significant part of the country's budget revenues. Corporate income tax has a direct impact on the financial condition of enterprises, since the amount of deductions for it is one of the largest. This ex-plains the special interest in this tax on the part of taxpayers. All of the above predetermined the relevance of the topic of the scientific article.

INCREASE IN THE TAX BURDEN OF INDIVIDUALS IN THE RUSSIAN FEDERATION

2021 ◽  
Vol 4 (4) ◽  
pp. 86-88
Author(s):  
A. A. AKSENOVA ◽  
Keyword(s):  
Russian Federation ◽  
Income Tax ◽  
Personal Income ◽  
Tax Burden ◽  
Personal Income Tax ◽  
The Russian Federation

The article deals with the increase in the tax burden of individuals due to the expansion of taxable objects and the introduction of a new increased rate on personal income tax, on incomes exceeding 5 million rubles.

scholarly journals Development of Taxation of Income of Individuals in the Russian Federation Based on Foreign Experience

2020 ◽  
Vol 20 (4) ◽  
pp. 412-421
Author(s):  
Alexandra O. Ryndina ◽  
◽  
Maria S. Zhverantseva ◽  
Tatiana E. Totikova ◽  
◽  
...  
Keyword(s):  
Russian Federation ◽  
Income Tax ◽  
The United States ◽  
Personal Income ◽  
Income Taxation ◽  
Personal Income Tax ◽  
Social Significance ◽  
Foreign Experience ◽  
The Russian Federation ◽  
The Common

Introduction. The issue of reforming the taxation of personal income has not left the agenda in recent decades. The importance of solving this issue is determined by the high economic and social significance of personal income tax and its impact on the labor market and consumption. Theoretical analysis. The article analyzes the statistics of the Federal Tax Service on income tax on physical incomes in the budget system of the country, identifies and substantiates the problems of income taxation in the Russian Federation. Discussion of results. A study of the characteristics of income taxation in the United States, Norway and Sweden revealed the common features and differences in the principles of constructing a system of income taxation in the studied countries and the Russian Federation. The analysis made it possible to substantiate measures to improve the system of income taxation of the Russian Federation based on foreign experience and evaluate the expected effect of some measures.

scholarly journals Regional Budgets: Results of 2019, Prospects for 2020

Federalism ◽  
2020 ◽  
pp. 114-131
Author(s):  
L. N. Lykova
Keyword(s):  
Growth Rate ◽  
Russian Federation ◽  
Income Tax ◽  
Economic Recession ◽  
High Growth ◽  
High Rate ◽  
Excise Tax ◽  
Regional Budget ◽  
The Russian Federation ◽  
Regional Budgets

In 2019 the regional budgets revenues grew at a high rate, including due to the outpacing growth of Federal transfers under the condition of the economic recession. Corporate income tax, personal income tax and excise tax receipts provided the growth of own income, while property tax receipts decreased. The growth rate of regional budget expenditures was significantly faster than the growth rate of revenues. The priorities of the subjects of the Russian Federation were healthcare and the national economy. High growth rates of expenditures did not always lead to an increase in the volume of public debt – its total amount decreased by the end of the year. Only in some regions of the Russian Federation there was a significant increase in the amount of debt. Estimates of possible budget revenue losses that regions will inevitably face in the context of the impending economic crisis allow us to identify a group of Russian regions for which these problems will be most acute.

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