Tax Incentives for Transition to Rational Consumption and Production Patterns

Svetlana I. Chuzhmarova () and Andrei I. Chuzhmarov ()
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Svetlana I. Chuzhmarova: Pitirim Sorokin Syktyvkar State University, Syktyvkar, Russian Federation; Perm Branch of the Institute of Economics, Ural Branch of the Russian Academy of Sciences, Perm, Russian Federation
Andrei I. Chuzhmarov: Komi Republican Academy of State Service and Administration, Syktyvkar, Russian Federation

Finansovyj žhurnal — Financial Journal, 2024, issue 3, 98-113

Abstract: The presented work touches upon the problem of economic transition to more environmentally friendly types of production and more careful use of resources, which is topical for the world community. The problem of transition from environmentally costly production models to more sustainable ones is reflected in the UN’s Sustainable Development Goal 12, titled “responsible consumption and production”. Achievement of this global goal is impossible without state financial support and investment incentives. One of the main financial instruments of stimulation are taxes, which at the national level allow to directly and indirectly influence producers of environmentally friendly products and their transition to new green technologies, as well as consumers. The problem of increasing the impact of taxes pushes for the transformation of taxation and the formation of new incentives. The arsenal of developed and developing countries has a wide range of fiscal instruments and accumulated experience of tax impact on production and consumption, the study of which can be useful in the formation of tax policy. The purpose of this paper is to analyze the experience of individual countries and systematize the tools of tax incentives for the transition to more environmentally friendly types of production and rational consumption of resources and justification of promising directions of tax impact. Based on the study of international experience, the authors determine the approaches of countries to the construction of tax incentives for the rational development and use of natural resources, reduction of environmental pollution. They also substantiate the need for tax support for building up scientific and technological potential, sustainable tourism and sustainable public procurement. The next promising direction of research may be the formation of tax instruments to eliminate market imbalances reflected in wasteful consumption of resources, transformation of indirect taxation of consumption, tax support for social projects, tax regulation of energy efficiency.

Keywords: tax; sustainable development; production; consumption; incentives; SDG 12 (search for similar items in EconPapers)
JEL-codes: H22 H61 (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:fru:finjrn:240307:p:98-113

DOI: 10.31107/2075-1990-2024-3-98-113

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