| Article |
|---|
| Article name |
The study of the impact on the Russian Federation budget revenues from the citizens’ income taxation changes |
| Authors |
Gonin V.. , |
| Bibliographic description |
|
| Category |
Economics |
| DOI |
336.02 ; 336.2 |
| DOI |
10.21209/2227-9245-2020-26-5-75-82 |
| Article type |
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| Annotation |
The article shows the calculation of the potential budget income of the Russian Federation from changes in the rules for calculating taxes on the interest income from a deposit included in the Tax Code on the second of April 2020. Three scenarios for of the potential budget income were calculated: the optimistic scenario (127.38 billion rubles), the pessimistic scenario (63.69 billion rubles) and the pragmatic scenario (95.54 billion rubles). The authors admit that the mechanism for administering the tax on the interest income from a deposit could be finalized, which may influence on the calculation results.
In connection with the spread of COVID-19 in 2020, many countries have taken a number of actions to provide economic support to their people and the national economy in priority sectors during the pandemic. The current policy of stimulating self-isolation leads to the economic downturn in several industries, by disrupting existing business processes. The ability to quickly switch to a remote mode of operation is a key factor in maintaining small businesses. Companies that are not able to work remotely will be forced to reduce employee salary or fire them, which could lead to increased unemployment level or shadow economic relations. In order to prevent the growth of the unemployed in Russia, actions have been taken to provide social support to the population through various mechanisms that require significant financial investments from the budget. In an appeal to the nation on March 25, 2020, the President of the Russian Federation V. V. Putin proposed to support people, as well as small and medium-sized businesses. In connection with the fall in oil prices in foreign markets, one of the solutions to replenish the budget to meet the increased social obligations is to optimize the taxation proposed by the president in terms of interest on bank deposits |
| Key words |
budget; budget policy; budget revenues; coronavirus; crisis; COVID-19; Deposit Insurance Agency; taxation; tax policy; income tax
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| Article information |
Gonin V., Monich I. The study of the impact on the Russian Federation budget revenues from the citizens’ income taxation changes // Transbaikal State University Journal, 2020, vol. 26, no. 5, pp. 75–82. DOI: 10.21209/2227-9245-2020-26-5-75-82. |
| References |
1. Analiz rynka vkladov fizicheskih lits v 2010 godu (Analysis of the market for deposits of individuals in 2010). URL: https://www.asv.org.ru/agency/for_press/pr/285505/?sphrase_id=1425389 (Date of access: 02.04.2020). Text: electronic.
2. Analiz rynka vkladov fizicheskih lits v 2017 godu (Analysis of the market for deposits of individuals in 2017). URL: https://www.asv.org.ru/agency/for_press/pr/515269/?sphrase_id=1425377 (Date of access: 02.04.2020). Text: electronic.
3. Analiz rynka vkladov fizicheskih lits v 2018 godu (Analysis of the market for deposits of individuals in 2018). URL: https://www.asv.org.ru/agency/for_press/pr/570995/?sphrase_id=1425369 (Date of access: 02.04.2020). Text: electronic.
4. Monitoring zastrahovannyh vkladov v 2019 godu (Monitoring of insured deposits in 2019). URL: https://www.asv.org.ru/upload/iblock/7c2/monitoring-zastrakhovannykh-vkladov-v-2019-godu.pdf (Date of access: 02.04.2020). Text: electronic.
5. Nalog na protsentny dohod po vkladam vvedut s 2021 goda (The tax on interest income on deposits will be introduced from 2021 year). URL: https://www.vedomosti.ru/finance/articles/2020/03/26/826351-nalog-na-protsentnii-dohod (Date of access: 02.04.2020). Text: electronic.
6. Novy nalog na protsenty kosnetsya vkladov ot 1 mln rub. bez summirovaniya schetov (A new tax on interest will affect deposits of 1 million rubles. without summing up bills). URL: https://www.interfax.ru/russia/701434 (Date of access: 02.04.2020). Text: electronic.
7. Putin vystupil s obrashheniem k natsii. Glavnoe (Putin made an appeal to the nation. The main thing). URL: https://www.vedomosti.ru/politics/articles/2020/03/25/826170-obraschenie-vladimira-putina (Date of access: 02.04.2020). Text: electronic.
8. Rezultaty monitoringa maksimalnyh protsentnyh stavok kreditnyh organizatsiy (The results of monitoring the maximum interest rates of credit organizations). URL: https://www.cbr.ru/press/pr/?file=24032020_164308ik2020-03-24T16_41_02.htm (Date of access: 02.04.2020). Text: electronic.
9. Tretyakova I. N., Yablonskaya A. E., Alyohina E. S. Vestnik Belgorodskogo universiteta kooperatsii, ekonomiki i prava (Bulletin of the Belgorod university of cooperation, economics and law), 2016, no. 5, pp. 218–226.
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| Full article | The study of the impact on the Russian Federation budget revenues from the citizens’ income taxation changes |
