Problems and ways of perfection of tax regulation system of oil companies’ investment activity
Nowadays the main part of Russian state budget income is taxes on oil companies. That’s why the government is interested in a competent tax policy which stimulates investment development of oil companies. However, the current tax policy in terms of licenses for the right to use subsoil mineral resources doesn’t encourage oil companies to develop new oil fields. So the government needs to introduce more progressive taxation scheme to be used in oil producing branch of industry. The article presents the results of some experiment that was carried out to calculate economic attractiveness of some definite license area by using different variants of tax incentives. Taxation systems of developed countries are compared as well. According to obtained results it is necessary to introduce proportional taxation system, for example, additional income tax, the size of which depends on an oil company’s profit, i.e. the government needs to switch from implementation of fiscal function of oil industry taxation to the regulatory one.