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In the last decade, assessing the tax expenditures’ economic efficiency has grown in importance due to the increasing number of situations where stakeholders use tax benefits for personal enrichment. The problem is aggravated by the very nature of tax expenditures, which represent budget revenue losses. The expediency of tax expenditures can be proved by estimating their impact on economic growth. The paper aims to measure such impact using the case of the USA. Methodologically, the study relies on Barro’s conception of endogenous growth. The study applies econometric methods of analysis. The data for the study is taken from the Global Tax Expenditures Database (GTED), the U.S. Department of the Treasury, the U.S. Bureau of Economic Analysis, and the U.S. Census Bureau for 1998–2022. The results indicate no correlation between the share of tax expenditures in a specific sphere in the total amount and their efficiency (the strength of the positive impact on GDP). For instance, the tax expenditures in commerce and housing have the greatest share (35.4 %), yet their impact is relatively weak compared to other categories of tax expenditures: 1 dollar of expenditures induces a 0.04 dollar increase in GDP. At the same time, tax expenditures in the social sphere with an insubstantial share of 2 % generate a 10 times higher return (a 0.49 dollar increase in GDP per 1 dollar of expenditures). Therefore, the structure of tax expenditures with an explicit social orientation appears to be the most preferable for the USA.

The article investigates tax and budget components of the investment tax expenditure management system in the region with a focus on tax benefits and tax powers of the authorities. The information base of the study is the federal and regional legislation, publications in scientific journals, open data of the Ministry of Finance of the Russian Federation, and the Government of the Rostov Oblast. Following general scientific methods of knowledge were used as a methodological basis: comparison, systematic logical and semantic analysis, synthesis of theoretical and practical materials. It allowed to substantiate expediency of significant changes in tax component of the investment tax expenditure management system. The definition of tax exemption, which has not changed during the 25-year period, has been clarified. Tax powers of public authorities of the Russian constituent entities on property and profit taxes of organizations have been expanded. The abandonment of tax costs assessment has been carried out by their supervisors in favor of software product of the Federal Tax Service of Russia developed jointly with the Ministry of Finance of Russia. The results of the study can be used by the authorities when developing proposals to improve tax and budget legislation.

In the context of global changes, Russia faces the challenges of not only countering the economic sanctions of the West, but also fulfilling its obligations to implement the Sustainable Development Goals, legislated in 2018. The purpose of the study is to critically examine the content of budget instruments, and their role in modern conditions, problems of functioning and areas of improvement. The key instrument of state financial policy is the federal budget, the resource capabilities of which make it possible to finance national projects, measures to implement the Messages of the President of the Russian Federation, 42 government initiatives. The conclusions are based on the analysis of open data of the Ministry of Finance of the Russian Federation. The study substantiates the need to transform the institute of state programs and related tax expenditures and budget expenditure reviews. It is revealed that they provide objective evidence of managerial decision-making in the field of public finance. Their further improvement is connected with the expansion of the tax independence of the sub-federal government, as well as the consolidation in the budget legislation of provisions on the formation of tax expenditures and conducting reviews of budget expenditures. The results of the study can be used by legislative and executive authorities in developing proposals for improving budget legislation, the implementation of which will contribute to the selection of relevant areas of financing, effective use of budget funds, and increased transparency of budget information.

Realizing the role of investments for the implementation of the policy of economic growth and increasing the monetary income and savings of the population, it is proposed to develop the development budget in the regions as an independent target monetary fund as part of the consolidated budget of the subject of the Russian Federation and a tool for activating investment processes. The authors substantiate two options for the formation of its income based on the state of the economic potential of the region and inter-budgetary relations in the country. The article argues for the need to reflect in the development budget tax expenditures corresponding to the amount of incentive tax benefits provided by the sub-federal government to investors. The analysis of the forms of state support for investment projects in the Rostov region that are in demand by business – tax incentives, “engineering” subsidies, special investment contracts-allowed us to formulate a set of measures to improve tax legislation. The full functioning of the development budget is impossible without its consolidation in the Budget Code of the Russian Federation, as well as simplification of the mechanisms for providing tax instruments that stimulate investment processes, maintaining the stability of tax legislation, and expanding the tax independence of the state authorities of the subjects of the Russian Federation.

The article presents the results of calculating the tax burden on the example of a specific organization, which are based on accounting (financial) and tax reporting data, which are digital data of the information and digital platform of the Federal Tax Service of Russia, as well as the results of identifying the socio-environmental factor in order to identify its impact on the tax burden. The purpose of the research paper is to assess the tax burden of organizations and identify the socio-environmental factor on the basis of the information platform of the Federal Tax Service of the Russian Federation. On the basis of the analysis and synthesis, the authors summarized the results of the taxation of organizations, taking into account the digital technologies of the civil service, and also formulated conclusions about the further development of the sphere of digital services in the field of taxation, which is necessary for assessing the tax burden as a significant resulting indicator of the activities of organizations.

The debatable issues of forming a comprehensive system of tax revenue management, including tax and budget components in the Rostov region have been considered. It has been concluded about the priority of the tax component, which is based on the legally established tax powers of sub-Federal authorities in relation to regional taxes, corporate income tax, simplified taxation system and patent taxation system. Specified systems are characterized by instability and limitation. The analysis of the content of the tax authorities of the Russian Federation subjects and their interaction with tax expenditures, which provide a relationship with the goals of state programs, allowed us to substantiate proposals to expand the tax independence of the Russian Federation subjects for the period of implementation of national goals.

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Copyright of Economy & Forecasting / Ekonomìka ì Prognozuvannâ is the property of Ukrainian National Academy of Sciences, Institute for Economic Forecasting and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)