WAYS TO OPTIMIZE INCOME TAX APPLICABLE TO THE ENTITIES OF THE RUSSIAN FEDERATION (BASED ON THE EXAMPLE OF THE CHUVASH REPUBLIC)

Abstract

The study is devoted to the importance of income tax and its role in the revenue side of the budgets of the constituent entities of the Russian Federation. The article examines in detail the legal ways of legally regulating the tax base and the amount of income tax paid, and substantiates proposals for taxing the profits of organizations.

Income tax, compared to other taxes, provides to a greater extent the possibility of optimizing tax payments. At the same time, the decision to use them depends on the taxpayer himself and the inclusion of these provisions in the accounting policy for the purposes of taxation of enterprises and organizations, as elements to be selected.

The use of some options for optimizing income tax, for example, investment tax deduction, falls within the competence of regional authorities. The use of tax optimization options will reduce the tax burden on the taxpayer, while generally reducing tax revenues to the budget. In the process of conducting the study, it was found that the possibilities for optimizing taxation in the Chuvash Republic are not fully used, despite the lag behind other regions in terms of household income, equipment of enterprises with fixed assets, etc. Such a lag in the region is reflected in the ratings of the socio-economic situation and quality of life of the population of the republic and provokes a negative financial effect.The information base was compiled by official data from the Ministry of Finance, the Federal Tax Service of Russia, and Rosstat for the period 2019-2022, which ensures the reliability of the data used in the study. The study was carried out using generally accepted methods such as. analysis and synthesis, generalization, grouping, tabular, etc.