Rukina S.N. Rostov State University of Economics (RSUE), Rostov-on-Don, Russian Federation firstname.lastname@example.org
Denisova I.P. Rostov State University of Economics (RSUE), Rostov-on-Don, Russian Federation Denis8663@mail.ru
Importance Indirect taxes constitute a mandatory part of the Russian tax system, performing a fiscal function. It gets especially important, considering imbalanced budgets and increasing deficit. The regulatory role of VAT and excise taxes is difficult to overestimate for socio-economic development of the State. Objectives The research substantiates possible areas for developing indirect taxation in the new economic and budgetary circumstances and during integration processes. Methods The research combines systems and instrumental approaches with methods of scientific cognition, categorical, formal and logic analysis, comparison. It helped discover theoretical and practical aspects of VAT, excise taxes and their function in the tax system of Russia. Results Having analyzed components of VAT and excise taxes, we substantiated possible avenues for their consistent improvement during integration process by adjusting tax rates, abolishing or suspending some tax benefits, smoothing the procedure for filing extended VAT tax returns, thus generating additional revenue for the Federal budget of the Russian Federation. Conclusions and Relevance When budgets of the budgetary system of the Russian Federation are imbalanced and the economic development pace slows down, the regulatory function of indirect taxes activates so to achieve macroeconomic equilibrium and address social objectives. The findings expand theoretical views on the functions of VAT and excise taxes and can be used to prepare recommendations for their improvement.
Keywords: VAT, excise taxes, tax rates, tax deductions, lost income
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