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Tax Incentives for Investment Projects in the Russian Economy

Author

Listed:
  • Arkin Vadim
  • Shevtsova Elmira
  • Slastnikov Alexander

Abstract

The paper is devoted to the analysis of tax incentives for investment projects in real sector of Russian economy. Such investment projects have a number of specific features as: irreversibility of investment; uncertainty on future economic situation and project's perspectives (including political risk); a possibility to postpone financing a project for some time until appearance of more favorable situation (investment waiting). The state (or the region) can actively influence the investors behavior with the help of tax exemptions ( tax holidays). The paper studies the model of investors behavior which includes all above mentioned features. The authors described explicitly the optimal moment for investment that maximizes net present value (from the project). The derived equations are used for both theoretical analysis and numerical calculations.

Suggested Citation

  • Arkin Vadim & Shevtsova Elmira & Slastnikov Alexander, 1999. "Tax Incentives for Investment Projects in the Russian Economy," EERC Working Paper Series 99-03e, EERC Research Network, Russia and CIS.
    • Handle: RePEc:eer:wpalle:99-03e
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    Citations

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    Cited by:

    1. Аркин В.И. Сластников А.Д., 2016. "Сравнительный Анализ Различных Принципов Назначения Налоговых Каникул," Журнал Экономика и математические методы (ЭММ), Центральный Экономико-Математический Институт (ЦЭМИ), vol. 52(3), pages 78-91, июль.
    2. Vadim Arkin & Alexander Slastnikov, 2007. "The effect of depreciation allowances on the timing of investment and government tax revenue," Annals of Operations Research, Springer, vol. 151(1), pages 307-323, April.
    3. Kokovin Sergey, 2000. "Investment-Curve Model of Tax Optimization and Tax Competition," EERC Working Paper Series 98-242e, EERC Research Network, Russia and CIS.

    More about this item

    Keywords

    project; investment waiting; corporate income taxation; tax holidays; political risk; uncertainty;
    All these keywords.

    JEL classification:

    • C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis
    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity
    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
    • H3 - Public Economics - - Fiscal Policies and Behavior of Economic Agents
    • H71 - Public Economics - - State and Local Government; Intergovernmental Relations - - - State and Local Taxation, Subsidies, and Revenue

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