Abstract: The subject analyzed in the article is problems of tax stimulation of investments in infrastructure projects in regions of Russia. Analyzing possibilities of financing of these projects at the expense of the means from the federal budget, the author comes to the conclusion of the necessity of a transition to new principles of applying tax and budget instruments in federal policy.
Among the factors that hamper an increase of long-term investments, the author emphasizes such ones as decrease of the volume of financing the real sector of economy by banks, as well as risks of institutional investors that are not secured by the government while investing in infrastructure projects.
The methodology used by the author includes a dialectical approach towards analyzing taxation of investment activities in regions as a factor of stimulating such activities. The main conclusions and suggestions made by the author is the necessity of applying contemporary mechanisms of tax stimulation: postponement of paying of taxes by an investor and complex development of territories. The author also points out that the tax policy towards small and medium businesses, connected with the introduction of a new tax on real estate and perfection of the patent system of taxation, which is being currently applied by government authorities, has failed to have a positive effect on the country’s economy as yet.
The author comes to the conclusion that the way out of this situation is broadening the spectrum of qualitative instruments and mechanisms of stimulation of long-term investments.