AD ALTA
JOURNAL OF INTERDISCIPLINARY RESEARCH
banking organization sin the Russian legislation, with a decrease
in its rates when lending to modern priority sectors of the
economy;
Third, the reduction in income tax rates for lending to priority
sectors of the economy should be simultaneously accompanied
by an increase in taxation of speculative transactions and
financial transactions with a high level of profitability, which
will prevent a decrease in the revenues of the budgetary system
of the Russian state in the face of limited resources and current
sanctions.
Fourth, to completely exempt credit institutions from paying the
VAT, since they do not create added value, but only redistribute
it. The exemption of banking operations from the VAT
corresponds to the economic content of the tax and the current
mechanism of its calculation, since pricing in the market of
banking products does not imply the creation of added value.
Fifth, it is necessary to expand the use of progressive elements of
the taxation mechanism of credit institutions, the experience
accumulated by foreign countries in the current Russian
legislation, which will allow banks to minimize the risks if they
don’t identify suspicious transactions on customer accounts. This
can be done by introducing amendments to the Russian
legislation on taxes and fees, regulatory legal acts and
regulations of the Bank of Russia aimed at combating the
legalization (laundering) of proceeds from crime and the
financing of terrorism. It seems that the Ministry of Finance of
Russia and the Bank of Russia must ensure close cooperation on
the improvement of the Russian legislation, its harmonization
with the standards of international law, taking into account the
provisions of the Guidelines of the Fiscal and Customs and
Tariff Policy of the Russian Federation for 2020 and for the
period of 2021 and 2022.
The improvement of tax control and counteracting tax crimes
mechanisms is a way to ensure the economic security of the
state. To be effective, penalties for violations of legislation
should not be excessively low. It is necessary to eliminate the
existing contradictions in various by-laws, and make the taxation
system as convenient and simple as possible, with low costs
associated with paying taxes.
In conclusion, we should note that the problems in the sphere of
taxation of credit institutions in Russia formulated in this work
cannot be quickly eliminated, but the main point is to start
moving in this direction, using international progressive models
and modern innovative technologies in tax relations
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Primary Paper Section: A
Secondary Paper Section: AH
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