Foreign experience of fiscal mechanisms of preferential economy

Abstract

The subject of the study is the fiscal instruments of the preferential economy, which provides for the establishment of a special preferential business taxation regime for research and development (hereinafter referred to as R&D) and innovation activities in the OECD countries, the EU and partner economies. The objectives of the work are to identify tools to stimulate the commercialization of R&D and highlight general trends in the development of these tools and tax policies of developed countries in the R&D sector. The availability of tax support tools for the commercialization of R&D in almost all the studied countries and their application, along with the provision of tax incentives for R&D expenses to stimulate innovation at different stages of the life cycle of intellectual property objects, is demonstrated. It has been established that the volume of such support is steadily growing. Tax regimes for income from R&D abroad comply with the minimum standard BTPS Action 5, aimed at more effectively countering harmful tax practices that may harm other jurisdictions. The characteristics of income-based tax benefits for R&D are highlighted. It is concluded that it is necessary to introduce the BEPS Action 5 minimum standard in Russia in order to stimulate the IT industry and significantly expand income tax incentives for the commercialization of breakthrough technologies and innovations in other industries.