Russian Journal of Economics and Law (Mar 2016)
TAX INCENTIVES TO BROADEN THE INVESTMENT-SAVING POTENTIAL OF THE FINANCE OF THE POPULATION IN THE PENSION SPHERE
Abstract
Objective: to identify the impact of tax incentives on enhancing the investment-savings potential of the finance of the Russians in the pension sphere. Methods: in this work, a systematic approach was applied to the consideration of the financial and tax factors, processing and synthesis of information using statistical, graphical and analytical analysis methods.Results: basing on the analysis of the current pension system, the major participants of pension relations are identified, as well as their financial relations in the non-state pension provision system when forming the investment-savings potential of the finance of the population. The provisions of the tax legislation are analyzed, as well as the statistical information, on the basis of which the effect of "tax shield" is calculated using the investment-savings potential of the finance of the population in the structure of the non-state pension provision system. The options for broadening the investment-savings potential of finance of the population by creating tax incentives are considered.Scientific novelty: in the work, for the first time the possibility is considered of using tax incentives to increase investment and savings capacity of the population to finance the pension system. Also the need is identified and justified to increase the "tax shield" used in the formation of the pension capital of citizens in the non-state pension provision system, which, extending the limits of tax incentives, will increase the pension capital of the population. Practical significance: the main provisions and conclusions of the article can be used in the justification and implementation of directions of the Russian pension system improvement, as well as its tax legislation.
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