Tax, monetary and social effects of regulation of investment activity of citizens in Russia

Abstract

The investment resources of the population in Russia have a high potential from the standpoint of ensuring sustainable economic growth. Stimulation of investment activity of the population occurs with the help of various instruments, among which tax incentives have a significant place. The implementation of tax instruments to stimulate investment activity of the population should be carried out taking into account both tax and monetary, as well as social effects, since the economic spiral of such incentives leads not only to an increase in the growth rates and incomes of investors, but also affects the monetary inequality of citizens. The subject of the study is the socio-economic relations between the state and taxpayers regarding tax incentives for investment activity of citizens and the effects of this incentive. В  The study assessed the tax, monetary and social effects of the current system of tax incentives for investment activity of citizens. It is proved that the investment potential of citizens in the Russian economy is realized rather poorly. Tax incentives are one of the instruments of state stimulation of investment activity of citizens. The personal income tax investment deduction in the amount of funds deposited to an individual investment account is one of such instruments. The shortcomings of the regulation of individual investment accounts in Russia are revealed both from the standpoint of the incentive mechanism itself and the impact of tax deduction on the monetary inequality of citizens. Proposals have been formed to eliminate shortcomings.