TAXATION AS AN INSTRUMENT OF STIMULATION OF INNOVATION-ACTIVE BUSINESS ENTITIES

Transcription

1 TAXATIO AS A ISTRUMET OF STIMULATIO OF IOVATIO-ACTIVE BUSIESS ETITIES Андрей Сергеевич Нечаев Andrej Sergeevch echaev Summary: The analyss of the theoretcal materal revealed the lack of consensus on defnton of the tax stmulaton of nnovaton-actve busness enttes wthn the regonal taxaton. The defnton «tax stmulaton of nnovaton-actve busness enttes» s specfed. The author s vew on ths defnton wthn the regonal taxaton s submtted. The correlaton between the regonal taxaton and the ndcators of fnancal and property condton of the busness enttes s consdered. The algorthm of the tax rate of corporate property tax, motor vehcle tax and ncome tax transferred to the regonal budget as a functon of the rate of return on assets s developed. The nnovatve method for the calculaton of the ndcators wthn the regonal taxaton on the property tax, vehcle tax and ncome tax, whch s transferred to the budget of the admnstratve subjects of the Russan Federaton s developed. Ths method allows reducng tax burden for the enterprses wth a correcton to the coeffcent of a proftablty of fxed assets. Key words: nnovaton; busness entty; taxaton; tax rate; return on assets. Innovaton s a hghly complex organzatonal and economc process, based on the use of two knds of potentals: research potental related to the latest technology and equpment, and the ntellectual potental assocated wth an ablty of management to nnovate at all stages of producton and busness operatons. The most mportant element of ths process s fndng and managng the sgnfcant fnancal resources [, 2]. There were dscussed both general and specfc problems of nnovatve growth, creatng condtons for comprehensve modernzaton and mechansms of nnovatve development of regons n the debate at the II Forum of Russan regons n February 20. The deputy Mnster of Economc Development of the Russan Federaton has partcularzed on the draft strategy of nnovatve development of the Russan Federa-

2 ton untl 2020 prepared by the Russan Mnstry of Economc Development. The specal role s assgned to nnovaton n regons. Subject to the foregong, we can conclude that one of the most mportant nstruments to stmulate nnovaton busnesses at the regonal level s tax ncentves. The scrutny of the current stuaton, trends and regulartes of the nnovaton sphere development suggests the dfferent nature of an effect of tax nstruments for nnovaton actvty enhancng [3, 4]. At the present tme there are varous forms of tax ncentves for busnesses provded by the tax laws of the Russan Federaton [5]. Among them we can hghlght the tax ncentves, tax deducton, nvestment tax credt, exempton from taxaton (tax holdays), deferred taxaton [6]. However, these forms do not take nto account how effcently basc producton assets are used n busness enttes that n the fnal analyss affect the fnancal and property status of an enterprse as a whole. At the same tme the tax rates wthn the regonal taxaton are set fxed for the duraton of fxed assets usng. Thus, t does not encourage enterprses to the most ratonal usng of avalable resources and nvestng to the nnovatve development. The analyss of the theoretcal materal [7, 8, 9] revealed the lack of consensus on defnton of the tax stmulaton of nnovaton-actve busness enttes wthn the regonal taxaton. Gven the above, we should specfy the defnton of the tax stmulaton of nnovaton-actve busness enttes. The tax stmulaton of nnovaton-actve busness enttes s a set of actons amed at the ntensfcaton of the nterest of nnovaton-actve busness enttes n the effcent usng the fxed assets n the socal useful actvtes by the prospect of obtanng the tax ncentves as an nstrument to stmulate nnovatve development. In ths case, the tax stmulaton of nnovaton-actve busness enttes wthn the regonal taxaton s to adjust the tax rate of the property tax, vehcle tax and ncome tax whch s transferred to the budgets of admnstratve subjects of the Russan Federaton, by a factor reflectng a property and fnancal status of а developng nnovatve enterprse.

3 ext, we represent the algorthm of tax rates adjustments wthn the regonal taxaton (the property tax, vehcle tax, ncome tax whch s transferred to the budgets of the admnstratve subjects of the Russan Federaton) n the correspondng -th perod for nnovaton-actve busness enttes.

4 Accountng perod (tax perod) Calculaton of property tax Calculaton of vehcle tax Calculaton of ncome tax At rates establshed by the Tax Code and the laws of the Russan Federaton Tax perod followng the accountng perod Calculaton of the coeffcent of a proftablty of fxed assets YES Is the coeffcent changed n comparson wth the prevous perod? O YES Is the coeffcent ncreased n comparson wth the prevous tax perod? O Increasng the tax rate of the property tax, vehcle tax, ncome tax wthn the dmensons of rates set by the laws of the Russan Federaton o change Reducng the tax rate n the current tax perod s transferred to the Federal budget roperty tax From 2,2 % to 0 % Vehcle tax From the tax rate set the laws of the Russan Federaton to 0% Income tax s transferred to the budgets of the admnstratve subjects of the Russan Federaton From 8% to 3,5% Fgure. Algorthm of tax rates adjustments wthn the regonal taxaton n the correspondng -th perod for nnovaton-actve busness enttes

5 Fgure graphcally llustrates the process of tax rates adjustments of the property tax, vehcle tax and ncome tax, whch s transferred to the budget of the admnstratve subjects of the Russan Federaton. In the accountng tax perod, ponted by number, calculaton of the relevant taxes wth current tax rates wthn the regonal taxaton s specfed by the Tax Code and laws of admnstratve subjects of the Russan Federaton. In the tax perod followng the accountng perod, ponted by number 2, an enterprse calculates the coeffcent of a proftablty of fxed assets by means of the balance sheet proft and resdual value of fxed asset. Dependng on the reducng or ncreasng of the coeffcent of a proftablty of fxed assets tax rates of the property tax, vehcle tax and ncome tax, whch s transferred to the budget of the admnstratve subjects of the Russan Federaton, are changed accordng to the methods below. Thus, nnovaton-actve busness enttes annually recalculates the tax rates of the property tax, vehcle tax and ncome tax, whch s transferred to the budget of the admnstratve subjects of the Russan Federaton, dependng on the coeffcent of a proftablty of fxed assets. It should be emphaszed that the development of nnovatve actvty, transton to nnovaton-based economcs s the only method of reconstructon and development of Russan economc potental. The method of the tax rates adjustments of the property tax, vehcle tax and ncome tax, whch s transferred to the budget of the admnstratve subjects of the Russan Federaton, by the coeffcent of a proftablty of fxed assets s represented b e- low. Desgnatons, used for the detalng ths method, are presented n the table.

6 Enterprse s economc ndces, used for tax rates adjustments of taxes wthn the regonal taxaton # Index Desgnatons Year 2 Amount of deprecaton A 3 Useful perod of the fxed assets 4 Hstorcal cost of fxed assets F 5 ercent of deprecaton n the lnear deprecaton method wthout acceleraton factor (n fractons) 6 Resdual value of fxed assets R 7 Average annual cost of fxed assets M 8 roceeds E 9 Balance sheet proft 0 Tax base for the vehcle tax (engne power of a vehcle n Bv horsepower; the trust of a jet engne; a gross tonnage; unt of a vehcle) The property tax rate (n fractons) t 2 The vehcle tax rate (n fractons) v 3 The ncome tax rate (n fractons) y 4 The ncome tax rate transferred to the federal budget fy 5 The ncome tax rate transferred to the regonal budget ry 6 The coeffcent of a proftablty of fxed assets ra 7 The coeffcent of turnover proftablty rt 8 The sum of the property tax St 9 The sum of the vehcle tax Sv 20 The sum of the ncome tax Sp 2 The sum of the ncome tax transferred to the federal budget FSp 22 The sum of the ncome tax transferred to the regonal budget RSp 23 The saved sum of the ncome tax Sp Table Then create the nnovatve method for the calculaton of the ndcators wthn the regonal taxaton on the property tax, vehcle tax and ncome tax, whch s transferred to the budget of the admnstratve subjects of the Russan Federaton. Ths method allows reducng tax burden for the enterprses wth a correcton to the coeffcent of a proftablty of fxed assets. formula : The annual amount of an accrued deprecaton s calculated usng the followng F A, где,2,3,..., ()

7 For the frst year of operaton a resdual value of fxed assets s equal to ther hstorcal cost. For the second year a resdual value s equal to the dfference between the hstorcal cost of fxed assets and the amount of an accumulated deprecaton, etc. Therefore, the resdual value of fxed assets s calculated usng the formula 2: R F( ) (2) The average annual cost of fxed assets s calculated usng equaton 3: F M ( 0,5) (3) ext, calculate the tax property by the formula 4: F( 0,5) St t St F t 2 (4) Accordng to the provsons of the chapter 28 of the Tax Code of the Russan Federaton [0] the vehcle tax s calculated by the formula 5: Sv v Bv (5) Under the chapter 25 of the Tax Code of the Russan Federaton the ncome tax shall be calculated accordng to the formula 6: 7: Sp y (6) The coeffcent of a proftablty of fxed assets s calculated wth the equaton r A r A M F( 0,5) (7) Then the property tax rate adjusted for the coeffcent of a proftablty of fxed assets s calculated as the product of the rato of the coeffcent of a proftablty of fxed assets of a prevous perod to the coeffcent of the accountng perod and the property tax rate of a prevous perod by the formula 8: 0,5,5 t t (8)

8 From the next tax perod the sum of the property tax dependng on the effectveness fxed assets usng wth adjustments for the coeffcent of a proftablty of fxed assets s calculated by the formula 9: St 2 F 0,5 t (9),5 The sum of the property tax adjusted for the coeffcent of a proftablty of fxed assets s calculated by the equaton 0: S t F t 2 t 0,5 0,5 (0) 2,5 In accordance wth the chapter 28 of the Tax Code of the Russan Federaton, legslatve (representatve) bodes of the admnstratve subjects of the Russan Federaton determne the vehcle tax rate wthn the lmts establshed by the Tax Code. Ths tax rate s calculated by the formula 5. Then the vehcle tax rate, adjusted for the coeffcent of a proftablty of fxed assets, s calculated as the product of the rato of the coeffcent of a proftablty of fxed assets of the prevous perod to the coeffcent of the accountng tax perod and the vehcle tax rate of the prevous tax perod by the formula : v 0,5,5 v () From the next tax perod the sum of the vehcle tax adjusted for the coeffcent of a proftablty of fxed assets s calculated by the formula 2: Sv v 0,5 Bv,5 (2) The sum of the vehcle tax wth adjusted for the coeffcent of a proftablty of fxed assets s calculated by the formula 3: Sv Bv v 2 0,5 v,5 (3) In accordance wth the Artcle # 284 of the Tax Code of the Russan Federaton the ncome tax rate s determned at 20 percents. The tax s sum, calculated by tax rate at 2 percents, s transferred to the federal budget, and the tax s sum, calculated by tax rate at 8 percents, s transferred to budgets of the admnstratve subjects of the Rus-

9 san Federaton. The rate on the ncome tax, whch s transferred to the budgets of the admnstratve subjects of the Russan Federaton, could be reduced for certan categores of tax payers to 3,5 percents by the laws of subjects of the Russan Federaton. Consequently, f the method developed by us s appled n the ncome tax, the ncome tax rate could be reduced to the lowest possble value whch s determned at 3,5 percents by the Tax Code to transfer to admnstratve subjects of the Russan Federaton. In accordance wth the chapter 25 of the Tax Code of the Russan Federaton the ncome tax s calculated by the formula 6. Then tax s sums transferred to the federal and regonal budgets s calculated by the formulas 5 and 6 respectvely: FSp fy (5) RSp ry (6) For all that: 0, 02 FSp ; 3,5 RSp 8. Therefore the ncome tax rate transferred to the regonal budget adjusted for the coeffcent of a proftablty of fxed assets could be reduced from 8 percents to 3,5 percents and calculated as a product of rato of the coeffcent of a proftablty of fxed assets of the prevous perod to the coeffcent of the accountng tax perod and the ncome tax rate of the prevous tax perod whch s transferred to the regonal budget by the formula 7: ry ry 0,5,5 (7) The sum of the ncome tax transferred to the regonal budget from the next tax perod wth adjustments for the coeffcent of a proftablty of fxed assets would be calculated by formula 8: RSp 0,5,5 ry (8) For all that n frames of the current tax legslaton followng lmts 0,35 ;0, 8. RSp could be any value n The sum of the ncome tax transferred to the regonal budget wth adjustments for the coeffcent of a proftablty of fxed assets s calculated by formula 9:

10 RSp ry 0,5 0,8 (9) 2,5 For all that RSp could be any value n lmts determned by the current legslaton 0,35 ;0,8. Then the sum of the ncome tax s calculated by formula 20: Sp ry 0,5 0,2 0,02 (20) 2 2,5 For all that Sp could be any value n lmts determned by the current legslaton 0,55 ;0,2. Thus, we has developed the method of adjustments of the tax rates on the property tax, vehcle tax and profts tax transferred to the budget of the admnstratve subjects of the Russan Federaton, for the coeffcent of a proftablty of fxed assets. Ths method s amed to facltate the nnovatve development of enterprses on regonal level, reducng tax burden for nnovaton-actve busnesses enttes and thereby releasng funds nvested n nnovatve component of the strategc development of busness enttes. References. echaev, A. S, 20. The theory of state regulaton of nvestment and fnance. ublshng House of the LA LAMBERT Academc ublshng, Germany, pp: Shapro, C. 2002, Competton olcy and Innovaton, OECD STI Workng apers 2002/. 3. Oslo Manual: Gudelnes for collectng and nterpretng nnovaton data. OECD & European Communtes, Jont ublcaton of the OECD and the Statstcal Offce of the European Communtes, 3rd edton, Schoeme Tax Admnstraton and the Small Taxpayer. al. Se, 3: echaev, A. S., The aggregate fscal and nvestment polcy. Fnance and Credt, 38 (374): 4-22.

11 6. Karavayeva I. V Tax regulaton of the market economy. UITY- DAA, p: Bllngs B. A., Glazunov S.., Houston M The role of taxes n corporate research and development spendng. R&D Management, 4: Hall B van Reenen J How effectve are fscal ncentves for R&D? A new revew of the evdence. Research olcy, 29: Rashkn M ractcal Gude to Research and Development Tax Incentves: Federal, State, and Foregn // 2nd Edton. Chcago: CCH Incorporated, pp: Tax Code of the Russan Federaton (part II). Date Vews