Impact Of Global Economic Crisis On Tax Policy In Russian Oil Industry

Abstract

The paper examines an anti-crisis tax regulation package in Russia and its impact on the current situation in the Russian fiscal sector, as well as the measures taken by the Russian Government in the oil industry taxation in 2015-2018. The objective of the paper is to analyze the anti-crisis measures applied by the Russian Government amid the global economic crisis and their impact on Russias tax policy in the oil sector. The paper determines state anti-crisis policy trends for the oil industry taxation. It specifies challenges the state faced implementing anti-crisis measures. It is concluded that it is the state tax policy implementation where additional anti-crisis measures have to be taken in the Russian oil industry. The need for designing a taxation legal model for oil producers is justified, with due regard to interests of both the state and business. The oil industry taxation mechanisms and other tax regulation tools considered in the paper can be used to improve the taxation legal model of the oil industry in Russia. The proposed additional anti-crisis measures of the oil tax policy can also be included in the state strategic programs to overcome the economic crisis.