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JOURNAL OF INTERDISCIPLINARY RESEARCH

17.0% lower than the same indicator in 2017. This can be
explained by a decrease in the liquidity of the Russian banking
system and a significant reduction in the number of regional
banks in 2018. Some of the regional banks were closed because
of the shadow activity, i.e. the use of illegal money laundering
schemes in practice. However, other banks (mainly small and
medium-sized banks) were actually driven out of the financial
market. It is known, that in the countries with developed
economies, both large, medium and small banks function to the
full extent. The problem of low capitalization of Russian banks
and the banking system as a whole is well known. Unfortunately,
in recent years, the Bank of Russia has been trying to solve it by
administrative methods exclusively, raising requirements for the
minimum size of banks’ own assets.

Analysis of tax revenues to the consolidated budget of the
Russian Federation in 2019 in comparison with 2018 shows an
increase in the share of tax revenues from the financial sector in
the total volume of tax revenues to the budget. So, according to
table 2, one can see that the volume of taxes paid by credit
institutions to the consolidated budget of the Russian Federation
amounted to 500.7 billion roubles in 2019, which are 138.1
billion roubles or 38.1% more than in 2018. The main factor in
the growth of tax deductions is an increase in the income of
credit institutions; among other factors, there is an increase in
transactions with government securities.

The Republic of Dagestan (RD) is one of the most important
strategic subjects of the North Caucasian Federal District of the
Russian Federation. It is known that the Republic of Dagestan
lags significantly behind the national average in terms of the
main indicators of the socio-economic development per capita
and is one of the most subsidized regions of the Russian
Federation.

Let us consider the role of banks in the formation of the sector
structure of tax payments in the Republic of Dagestan from 2017
to 2019. The banking system of the Republic of Dagestan has 94
credit and cash institutions, including 2 own credit institutions,
four branches of credit institutions in other regions (including
the Dagestan branch of PJSC Sberbank of Russia), 88 internal
structural divisions of credit institutions (branches) (May 01,
2020). The data in Table 3 show that the level of tax revenues
from credit institutions in the Republic of Dagestan is even
lower (less than 2%) than in Russia as a whole.

Table 3. Comparative data on the total volume of tax revenues

and the fiscal role of credit institutions in the Republic of

Dagestan for 2017-2019 (million roubles)

2017

2018

2019

Types of Taxes

and payments

illion r

ubl

c w

ght

illion r

ubl

c w

ght

illion r

ubl

c w

ght

Total receipts,

including:

278,8

100,0

278,8

100,0

4535

6,3

100,0

From credit

institutions

700,2

2,1

589,2

1,5

771,0

1,7

* The table was compiled by the author based on the reporting
data of the Office of the Federal Tax Service of Russia in the
Republic of Dagestan for 2017-2019 (reports No. 1-NM, 4nm).

In 2018 in comparison with 2017, due to a decrease in the
number of functioning credit institutions, there was a noticeable
decrease in tax revenues from the banking sector of the economy
in the Republic of Dagestan. So, in the period from 2017 to
2018, regional banks were closedin Dagestan, and the main
reasons were the low level of capitalization of regional banks, as
well as the use of illegal tax evasion schemes by individual
banks.

In the current conditions, it seems expedient to exempt from the
profit tax the part of the commercial banks’ profit, which is
directed to increasing capitalization, that will allow small

regional banks to increase their own capital, since in conditions
of high regional differentiation, they provide direct proximity to
the regional economy.

In 2019 the situation relatively stabilized, there was an increase
in profits of most banking organizations operating in the region.
This led to an increase in the share of tax revenues from the
banking sector of the economy from 1.5 to 1.7%. In general,
such an increase in tax revenues can be explained both by an
increase in the profits received by banking organizations, and by
an improvement in tax administration of this segment of the
economy. Unfortunately, in 2020 we can see the instability in the
banking segment of the economy again, caused by well-known
world events, which will lead to a decrease in tax revenues not
only in the Republic of Dagestan, but in the Russian Federation
as a whole.

According to the famous Russian scientist L.I. Goncharenko
“Banks, occupying an intermediary position between taxpayers
and the budget, have a significant impact on the revenue part of
the budget” [7]. According to another Russian researcher, the
bank plays the role of a tax intermediary, ensuring the receipt of
taxes into the budget [6]. This is confirmed by the following
circumstances: credit organizations are obliged to transfer taxes
to the budgets of various levels in time and in full extent, and
they must do this completely free, contrary to the principles of
commercial activity. On the one hand, D.A. Vasiliev views the
bank as a commercial organization, and on the other hand, he
says it is similar to the bodies of the Federal Treasury. The
predominance of the intermediary role of banks is also
mentioned by the famous Russian scientist A.Z. Dadashev [20].

Researcher S.V. Klyukovich concludes that in Russia, banks are
not considered as specific independent participants in tax
relations. At the same time, individual articles of the Tax Code
of the Russian Federation establish the status, rights and
obligations of banks, which in fact determines their special role
in the Russian tax system [21]. At the same time, Professor L.
Igonina believes that “the point of view that banks pay little
taxes to the budget is not entirely correct and is based on an
incomplete understanding of the processes taking place in the
credit sphere” [8].

Meanwhile, a well-known Canadian scientist Sanger Toby notes
that “the dramatic changes in taxation introduced over the past
decades and inspired by the economics of supply have provided
the financial sector and some of its highly paid employees with
enormous benefits. Tax breaks that have given the financial
industry a disproportionate advantage and even further
stimulated the speculative behaviour should also be abolished”
[22].

Thus, Russian economists focus on the role of banks as an
intermediary, pushing it as a taxpayer to the background,
although the level of taxation of credit institutions directly or
indirectly affects all spheres of the economy, the ability to
transfer taxes to the budget in time. Due to the prevalence of aim
proper approach to the role of banks in the economy, the low
level of tax revenues from the banking sector in Russia is not
accidental. In general, as we have noted above, the share of tax
revenues to the budget from the banking sector of the economy
in Russia is extremely low compared to other sectors. In these
conditions, the foreign experience of taxation of credit
institutions can play a great role for Russia. In developed
industrial countries, significant attention is paid to tax incentives
for the development of banking activities. Moreover, they are, as
a rule, rather large taxpayers to the budget. The current
mechanism of taxation of credit institutions is designed in such a
way that it allows to combine the fiscal and regulatory functions
of taxes.

Of course, in industrialized countries, the mechanism for
calculating and levying taxes from banks has its own individual
characteristics. In foreign countries, as well as in the Russian
Federation, the main tax paid by banks is corporate income tax.
Let us consider the taxation of banks in one of the most

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