Abstract: The subject of this research is the factors that define the potential increase of tax revenue due to introduction in 2018 of the regime of international holding companies in the two special administrative districts. The goal of this article lies in quantitative assessment of fiscal effect that would take place if the companies of the Russians registered in foreign jurisdictions, popular from the perspective of business structuring, would undergo the procedure of redomiciliation in the special administrative districts. The analysis considers the results of sociological surveys on the readiness of entrepreneurs to bring capital back to Russia. The research methodology is based on systemic approach that allows assessing the impact of a set of various economic factors upon the level of tax revenue, as well as involves the principles of behavioral economics and financial sociology. The conclusion is made that in terms of the rate of return of capital transfer at 6.2%, which corresponds with the average return on capital in the developed countries in 1980-2010, the potential fiscal effect from operation of the special administrative district may be estimated in the range from 17 to 30 billions of rubles. The results may be applies in the course of analysis of the efficiency of special administrative districts and deoffshorization policy overall, as well as future improvement of legislation on the international holding companies.

Abstract: In Latin America at the end of the last century, there was a reduction in the role of income taxes, which led to a distortion of the structure of tax revenues in favor of indirect taxes and an increase in social inequality. Since 2007, reforms have been carried out in a number of countries in the region to return to the progressive taxation of citizens' incomes, thanks to which they managed to increase the share of income taxes in the budget and reverse the upward trend of growing inequality. The author of the article discusses the measures taken in the framework of these reforms, evaluates their results and analyzes the lessons that can be learned from the successful experience of transformations. In her research the author has applied such methods as analysis, synthesis, induction, deduction, also methods of grouping, comparison and tabular presentation of data. It has been established that the positive result of the reforms was expressed in the absolute growth of incomes to the budget of the individual income tax and in the reduction of inequality in the region. The reform was particularly successful in Uruguay: according to its results in the structure of tax revenues, the total share of taxes on goods and services decreased from 70 to 50 percent, the share of income taxes increased from 10 to 35 percent and the Gini coefficient decreased by 2 points.

Abstract: In her article Tsagan-Mandjieva analyzes applicable alternative approaches to direct and indirect taxatin of operations performed to create and transfer cryptocurrency taking into account their decentralized nature. Based on the approaches described, the author of the article summarizes foreign experience in tax regulation of cryptocurrency and defines tendencies in the development of the favorable regulatory environment from the point of view of VAT taxation. Taking into account the offshore nature of cryptocurrency systems Tsagan-Mandjieva makes a conclusion that it is possible to recognize taxable assets only if the virtual currency is converted into fiat currency. In the course of processing information the author has used general research methods such as analysis, synthesis, induction, deduction as well as methods of grouping, comparison, and tabular presentation of data. The novelty of the research is caused by the following: 1) the author describes three approaches to taxation of operations performed to create cryptocurrency (in a manner similar to creation of intellectual property assets (digital goods), extraction of precious metals, obtaining compensation for services rendered) and analyzes drawbacks and advantages of each of them; 2) based on these approaches to recognizing operations performed to create cryptocurrency, the author defines taxable assets developed during operations related to cryptocurrency conversion; 3) the author summarizes positions of the foreign states in accordance with the classification of approaches offered.