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Lecture notes, cheat sheets
State and municipal finances. Fundamentals of fiscal policy (lecture notes)
Directory / Lecture notes, cheat sheets Table of contents (expand) LECTURE No. 3. Fundamentals of budget policy The achievement of strategic goals in the development of the state is based on the basis of financial policy. The implementation of financial policy takes place through the preparation of a financial plan for the medium (long-term) perspective, the budget and the most efficient use of these funds for the state to perform its functions. The subjects of the implementation of the budget policy are the authorities that have the authority to form and use financial resources. The financial policy of the state should focus not only on the domestic economy of the country, but also on the requirements of financial law. The priority objectives of the financial policy are: 1) formation of legislation adapted to reality; 2) reduction of the tax burden with a simultaneous increase in the efficiency of the functioning of the tax system; 3) formation of adequate planning and forecasting of the development of the financial system; 4) achieving maximum balance of budgets at all levels; 5) effective return on the functioning of the customs system; 6) creation of conditions for stimulating revenues to the budgets of various levels, etc. Financial policy consists of such structural links as budget policy, customs policy, monetary policy. Changes are taking place in the field of customs policy related to Russia's accession to the WTO. According to the rules of this organization, in the territories where these rules apply, import duties will not apply. Currently, a whole system of customs fees and duties, as well as their benefits, operates on the territory of the Russian Federation. The Customs Code of the Russian Federation provides for special customs regimes. Monetary policy is formed by the Government of the Russian Federation and the Central Bank. Its main tasks: 1) the stability of the inflation rate. This refers to the achievement of a level at which economic growth is noted; 2) application of the latest technologies in payment transactions; 3) control of the money supply; 4) maintaining the position of a floating exchange rate. Within the framework of tax policy, the primary task is to reduce the tax burden. As a result, there are changes in tax legislation. Issues related to the taxation of small and medium-sized businesses have shifted towards improvement. For such business entities, special tax regimes have been developed and implemented. These include a taxation system in the form of a single tax on imputed income and a simplified taxation system. Income tax rates have been reduced. At the same time, a large share of tax deductions goes to the budget of the subject. In turn, regional authorities have the legislative right to reduce this rate (17%). All this creates the prerequisites for the legalization of profits of enterprises. A scheme has been developed for the application of tax incentives for income tax, unified social tax, value added tax. A regressive scale for the UST has been introduced, i.e., with an increase in the tax base, the tax rate decreases. Special benefits are also provided for special zones. Three types of free economic zones are prescribed in the legislation: recreational, technical and innovative, scientific and technical. For them, the state provided for exemption from a number of taxes and benefits for UST, income tax. The current budget policy of Russia is in line with the strategic goals of the economic development of the Russian Federation, improving the quality of life and ensuring the safety of its citizens. National projects are becoming increasingly important. A basis is being created for solving urgent problems, such as improving the quality of education, providing citizens with affordable and comfortable housing, improving the health of the population, creating decent living conditions in the countryside and developing agro-industrial production. Some federal and regional programs to address the above areas are listed when considering interbudgetary transfers. Some national projects receive the necessary funding. However, there are some inconsistencies here as well. So, at first, funds for the payment of the unified social tax and the payment of district coefficients were not taken into account due to the introduction of additional payments to certain categories of teachers and medical workers. As a result, amendments to the federal budget are again required in the process of its execution, which is not welcome. With regard to social financing, the wages of certain categories of employees of public sector organizations, the monetary allowance of military personnel and law enforcement officers, pensions and a number of benefits in connection with motherhood and raising children have been significantly increased. The results of the reform of the system of benefits in kind have been positive. This reform made it possible to increase the effectiveness of social support for the population. Budgetary funds for these purposes are provided in the required volumes. A new federal law on public procurement came into force, which more clearly regulates the procedures for conducting tenders, creating conditions for expanding the range of suppliers and more efficient use of budgetary funds. This will allow more economical spending of budgetary funds. Since 2006, the volume of state investment expenditures has been increased in the federal budget and the Investment Fund has been created. The reform of federal relations between the budgets of different levels was continued. There are already positive developments: the federal budget and the budgets of the constituent entities of the Russian Federation for 2005 were executed for the first time under the conditions of the legislatively established delimitation of expenditure obligations and revenue sources. Due to this, the balance of regional budgets has increased. Every year the transparency of the system of financial support of the constituent entities of the Russian Federation is growing. However, the mechanisms used in distributing subsidies (calculation of budget sufficiency, equalization of lagging regions) are not sufficiently focused on stimulating the growth of their own tax potential. With the provision of subventions from the federal budget, the circle of own powers of the state authorities of the subjects has been expanded. State authorities of the constituent entities of the Russian Federation received the right, in cases established by law, to participate in the exercise of the powers of the Russian Federation with the implementation of expenses at the expense of the budgets of the constituent entities of the Russian Federation. Similar decisions have been made with respect to local self-government bodies. A positive development in 2006 was the formation of their own budgets for the newly formed municipalities. According to the new legislation on local self-government, the subjects independently determine the transition to a new model of interbudgetary relations. More than half of the subjects have already adopted their regulations on the formation and distribution of financial resources. The reduction in the base rate of the unified social tax ensured a significant reduction in the tax burden (primarily for the manufacturing industries). Since 2006, a new methodology for forming the country’s budget has been adopted. Russia has significant experience in planning economic and other activities. Suffice it to remember the five-year period. In the post-Soviet period, the authorities abandoned this type of management. Taking into account the accumulated experience, we are returning to three-year planning. With the help of this, budget policy will be determined more qualitatively. However, the stopping ("braking") force of the planning process was the adoption of a long-term financial plan for 2006-2008. after the start of the planning period. This objectively hinders the introduction of a results-based medium-term budgeting model. Another positive moment in 2006 was the transfer of the entire system of budgets to cash execution services in the bodies of the Federal Treasury. At present, the budget policy is being formed based on the need to improve the quality of life of the population, create conditions for ensuring positive structural changes in the economy and the social sphere, address the problems of macroeconomic balance, increase the efficiency and transparency of public finance management. Another important point is the gradual reduction of inflation rates. The suppression of inflationary growth rates should be based on the elimination of the causes of inflation. To implement the tasks set, the Government of the Russian Federation is responsible for the following strategic areas: 1) an important point is to ensure the balance of the budget system of the Russian Federation in the long run. This is especially true of obligations in the field of pension and state social insurance. With the entry into force of the new mixed pension accumulation system, it became necessary to draw up new rules for deductions from the federal budget to the Pension Fund. A sore point is the dependence of budget revenues on fluctuations in world oil prices. Therefore, the budget spending strategy should be based not on current assessments of the price situation in the commodity markets, but on the basis of long-term trends; 2) the main direction in the field of budget policy should be the continued accumulation of budget revenues in the Stabilization Fund. The funds of the Stabilization Fund in excess of the base amount should be used to replace sources of external financing of the budget deficit, as well as to early repay the state external debt. As practice shows, the formation of such a fund gives a sense of stability. However, according to the President of the Russian Federation, there should be a clear separation between the funds that are reserved in the Stabilization Fund in order to reduce the risks of falling oil prices (the reserve part), and the resources formed in excess of this amount (the “future generations fund”). It is proposed to set the volume of the reserve part as a percentage of GDP; 3) a more efficient return of budget expenditures is needed. Expenses of budgets of all levels should be focused on the end result. At the same time, the obligations imposed on the authorities should be comparable with the financial resources allocated for this; 4) increasing the role of medium-term financial planning. Already in 2007, the federal budget for the medium term (2008-2010) was approved. Reports on the results of the use of budgetary appropriations should be taken into account when drawing up and reviewing draft budgets; 5) further expansion of the independence and responsibility of the main managers of budgetary funds by developing and implementing methods and procedures for assessing the quality of financial management at the departmental level, developing internal audit, strengthening financial discipline; 6) ensuring transparency and efficiency of procurement for state and municipal needs. Currently, the formation of a regulatory framework for the implementation of the provisions of the Federal Law of July 21.07.2005, 94 No. XNUMX-FZ "On placing orders for the supply of goods, performance of work, provision of services for state and municipal needs" is being completed. Particular attention should be paid to determining the list of goods, works, services, the purchase of which should be carried out at auctions, as well as to the specifics of the purchase of products for defense and security needs. A positive moment in this area is the conclusion of long-term contracts for the supply of products for state and municipal needs. It is planned to expand the practice of holding joint tenders by state and municipal customers. This will make it possible to more effectively promote the adoption of joint decisions regarding the conduct of tenders for federal needs; 7) improvement of state property management. Obtaining one-time income should not be the only goal of privatization of state and municipal property. First of all, it should contribute to structural changes in the relevant sectors of the economy, allowing us to expect a positive economic, social and budgetary effect. As soon as possible, it is necessary to legally resolve the issue of reducing the redemption price of land plots under objects that are in private ownership. The shortcomings of the existing system of denationalization of property include the delay in privatization procedures. It is necessary to reconsider their sequence. The results will be the acceleration of privatization procedures and the growth of revenues to the budget system; 8) effective participation of Russia in the initiatives of the world community to alleviate the debt burden of the poorest countries. At the GXNUMX summit, it was decided to write off the debt of African countries; 9) reorganization and increase in the capitalization of specialized state investment institutions in order to support the export of goods and import of technology, long-term financing of large investment projects. For this, a lot of work has been done to create legislation on industrial-production, technology-innovative and tourist-recreational special economic zones. In order to expand private investment, mechanisms for using the funds of the Investment Fund and venture funds are widely used. In accordance with the Budget Message to the Federal Assembly dated May 30.05.2006, 2007 "On Budget Policy in 2006," tax policy in 2007-XNUMX. and for the medium term should be formed based on the need to stimulate positive structural changes in the economy, consistently reduce the total tax burden, and qualitatively improve tax administration. Legislation on production sharing agreements is in place. The state provides guarantees in the study and development of mineral deposits. A decision was made to introduce a zero tax rate on the extraction of minerals for newly commissioned oil fields located in Eastern Siberia and on the continental shelf of the Russian Federation, as well as to establish reducing coefficients to the rate of this tax on depleted fields. It is planned to enshrine on a permanent basis in the Tax Code of the Russian Federation the formula used today for calculating this tax, depending on the world oil price. In order to stimulate innovation, there was a need to reduce the period for attributing the costs of research and development work, including those that did not give a positive result, to income tax-reducing expenses from two years to one year. Reforming the system of excise collection should be focused on stimulating the consumption of higher quality goods. The issue of differentiating excise duty rates for gasoline depending on its quality has already been worked out, benefits have been established. The procedure for paying excises on cigarettes consists in calculating the ad valorem component of the excise rate from the retail price of cigarettes. The ad valorem rate is a combination of natural and interest rates. In the coming years, indexation of excise rates for petroleum products will not be carried out. An innovation in the legislation on taxes and fees will be the unification of two local taxes: land and property. Instead, a single local property tax will be created. Perhaps this will lead to a more or less effective procedure for mass real estate appraisal. This project is under development. This type of tax is planned to be launched in 2009. The Government of the Russian Federation during the formation of the long-term financial plan of the Russian Federation for 2007-2009. and the draft federal budget for 2007 should provide funds for the implementation of the decisions taken to increase wages in the public sector, the salaries of military personnel and law enforcement officers. Particular attention should be paid to solving the problem of raising the living standards of pensioners. In particular, it is necessary to ensure the implementation of the earlier decision to bring the size of social pensions to a level not lower than the subsistence minimum for a pensioner. In the Message of the President of the Russian Federation to the Federal Assembly of the Russian Federation, tasks were set for a qualitative improvement in the system of support for motherhood and childhood in order to significantly increase the birth rate. The funds necessary for their implementation should be taken into account when forming the federal budget for 2007 and subsequent years. In particular, the law "On maternity capital" was adopted, which came into force in 2007. The law provides for the payment of 250 thousand rubles. women who gave birth or adopted a second or subsequent children, starting from January 1, 2007. According to the document, a man also has the right to receive money if he is the sole adopter of the second, third or subsequent children. It is also agreed that these funds will be provided only after the child is three years old, or after three years have passed from the date of his adoption. Money from maternity capital in full or in part can be directed to education, and any child in the family, the purchase of housing, as well as the formation of the funded part of the mother's labor pension. At the same time, this amount will be reviewed annually, taking into account the rate of inflation growth. In 2007-2008 bets were made on the allocation of funds for the implementation of priority national projects. When planning work for 2007, funds from the budgets of all levels, state off-budget funds and other sources allocated for the implementation of project activities are already taken into account. In addition, greater transparency in the spending of budgetary funds is ensured. The priority in financial management remains the coordinated implementation of education and health projects and the adoption of measures for the structural modernization of relevant industries. Joint implementation is carried out at all levels of government. In the field of education, first of all, support will be provided to those regions that are introducing a new wage system in general education institutions. Regarding the support of the category of teachers, programs to encourage the best teachers are of great importance. The question of real lending to education is raised. In the agro-industrial sector, the tasks of stimulating the introduction of modern technologies, further developing lending, agricultural insurance, and improving the standard of living in rural areas are relevant. The implementation of this project is based mainly on the formation of target programs for rural development. Of great importance are subsidies from the regional budget for agricultural producers in terms of leasing payments, bank loans. Many subjects receive transfers to reimburse the amounts spent. The development of leasing should stimulate the use of the most economical agricultural machinery and equipment in operation. Author: Novikova M.V. << Back: The budget system of the Russian Federation >> Forward: The federal budget of the Russian Federation is the main financial plan of the country
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