Authors: Yelena A. Yermakova, Dr. Sc. (Econ.), Prof. of Finance Dept., Saratov Socio-Economic Institute

Nikita A. Larionov, Postgraduate of Finance Dept., Saratov Socio-Economic Institute

Abstract: The article explores the nature of tax credit for innovation activities. The five different forms of tax credit used in the tax systems of various countries are distinguished. Unique features of the influence of fiscal practices on innovation activities in particular countries are stated. Specific characteristics of each stated form are explored and classified. Russian experience and the specifics of tax credit for innovation activities are analyzed. The article suggests the ways for reforming credit mechanism of tax incentives for innovation activities in Russia. In particular, the authors propose to put marginal tax credit into the Russian practice. With a view to improve the efficiency of investment tax credit in Russia in the form of deferred tax payment, recommendations are given.

Keywords: Taxes, tax policy, tax credit, investment tax credit, innovations, tax incentives