Journal of Siberian Federal University. Humanities & Social Sciences / Windfall Profits of Russian Companies: Taxation vs Voluntary Contribution to the Budget

Full text (.pdf)
Issue
Journal of Siberian Federal University. Humanities & Social Sciences. 2024 17 (3)
Authors
Polezharova, Lyudmila V.; Gusev, Dmitry S.
Contact information
Polezharova, Lyudmila V.: Financial University Moscow, Russian Federation; ; ORCID: 0000-0002-2636-6567; Gusev, Dmitry S. : Trust Technologies – Consulting LLC Moscow, Russian Federation; ; ORCID: 0000-0002-6363-9624
Keywords
tax policy; windfall profit taxes; mining companies; additional income tax (AIT); voluntary contribution to the budget
Abstract

The subject is the economic relations that arise between the state and mining companies regarding the redistribution of excess (windfall) profits – the financial result obtained as a result of changes in quotations in the commodity markets and differs from the average in recent years. The goal is to identify and qualitatively characterize the risks of using chaotic non-tax measures to withdraw excess profits from mining companies and substantiate approaches to taxing such excess profits aimed at stimulating private investment and innovation. Theoretical base – the works of domestic and foreign scientists. Empirical – statistical data, national and foreign legal documents regulating the practice of redistributing the excess profits of companies. The article analyzes scientific approaches to the problem of windfall profits taxes. The analysis of practical measures used once in Russia and abroad for the withdrawal of excess profits of companies is carried out. The diagnostics and qualitative characteristics of the tax and investment risks of the state and mining companies as a result of such measures were carried out. The author’s conceptual approach to the mobilization of excess profits with the help of a tax mechanism that operates on an ongoing basis and a stable legislative framework is theoretically substantiated. It also substantiates the need for a set of tax incentives to provide incentives for mining companies to invest excess profits in the creation of innovations, technologies, maintaining the added value of extracted raw materials within the country, social and infrastructure projects, which will serve long-term sustainable growth and development of the national economy. Methods of synthesis, complex and functional analysis, economic-mathematical, statistical, financial modeling methods are used

Pages
528–539
EDN
MFEDRZ
Paper at repository of SibFU
https://elib.sfu-kras.ru/handle/2311/152708

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