Home  Journals  Finance and Credit  12(840) - 2023 December

Tax policy as an effective tool for the development of the region

Received: 20 July 2023

Received in revised form: 24 August 2023

Accepted: 7 September 2023

Available online: 28 December 2023

Subject Heading: FISCAL SYSTEM

JEL Classification: Н3

Pages: 2751–2766

https://doi.org/10.24891/fc.29.12.2751

Subject. The article addresses the tax policy of the region, using the case of the Republic of Mordovia. Under the changing situation and external sanctions pressure, the priority of the Republic’s tax policy is to prevent the complication of economic situation, ensure stable tax conditions for business entities, strengthen the revenue base of the budget, increase the effectiveness of stimulating function of the tax system.
Objectives. The aim is to assess the regional tax policy implementation and develop recommendations for improvement in the context of socio-economic development of the region.
Methods. The study employs methods of scientific knowledge, i.e. systems, structural, comparative analyses, induction and deduction, synthesis.
Results. We assessed the implementation of region’s tax policy, investigated the tax policy in the context of socio-economic development of the Republic of Mordovia, identified the main directions of the tax policy improvement as part of stimulating the socio-economic development.
Conclusions. With limited budget resources, in order to minimize threats to financial security of the Republic of Mordovia, the tax policy of the region is aimed at reorientation of scarce funds by their redistribution to maintain social and financial stability, create conditions for sustainable socio-economic development of the Republic. The effectiveness of the policy implies socio-economic development, enhancement of the welfare of the population, reduction in the share of the shadow economy, increase in the competitiveness of the region, and, as a result, the growth of tax revenues to the budget.

Keywords: tax policy, fiscal revenue, efficiency, tax benefits, taxable capacity

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