State regulation measures of large corporations contribution to the budget revenues formation

Introduction: the article outlines directions, developed from an earlier assessment, aimed at strengthening the role of large corporations in the revenues of the budget system based on the case of ferrous metallurgy and chemical industries. Objectives: to develop and justify measures to increase the role of large corporations in generating revenues of the Russian Federation budget system. Methods: literature analysis, comparison and generalization method, index method, factor analysis, specific gravity and dynamic data analysis. Results: the assessment of the financial interaction of ferrous metallurgy and chemical industry corporations with the state carried out in previous studies revealed a high potential of large industry corporations to the formation of regional budget revenues by income tax deductions. At the same time, companies are characterized by a large amount of VAT reimbursed from the budget for export operations, which can reach 15–20 billion rubles per year, which significantly reduces the contribution of companies to the formation of federal budget revenues. Despite the growth in income tax, personal income tax and property tax revenues, which is associated with favorable market conditions, corporations are characterized by a many times greater increase in dividend payments to key shareholders and an increase in the share of net profit payments. To strengthen the role of large corporations in national development and the budgetary system, measures were proposing, such as partial reimbursement of export VAT, the development of special administrative regions and incentives for corporations to register in them, as well as tax deduction for dividends provided these are used for socially oriented activities and business expansion. Conclusions: the measures proposed in the course of the study will increase tax revenues from large corporations to the budget system, stimulate their transition to Russian jurisdiction, and also encourage them to actively invest monetary resources into socio-economic development of both home regions and charity, as well as into the development of infrastructure in special administrative regions.