Налог на прибыль организаций: основные проблемы и направления совершенствования
Favourable tax climate is one of the factors of a country's investment attractiveness. Any changes in fiscal policy can result in decrease (or increase) in inflow of capital investments - both private domestic and foreign direct ones. The article dwells on the expedience of profit tax, which is characterized by low budget's earnings generation and high costs of legislation observance. It is underscored that the major emerging disadvantage of this investment regulation instrument is the transfer of tax burden to individuals through growth of prices, reduction in employee pay and return on capital. The author points to the fact that government interventionism may significantly decrease the volumes of direct investments. Consideration is given to the influence of taxation on private investments via labor market channels, savings sector and household consumption.