TAX INCENTIVES FOR INTELLECTUAL CAPITAL DEVELOPMENT

The article shows the results of a study of a company’s intellectual capital elements, carried out with the purpose to identify the most significant areas of tax incentives promoting investments in its integrated development. The objects forming part of the intellectual capital are specified in terms of reflecting the knowledge in different activities of the organization. The author’s classification is given. Some components are grouped with regard for the possibility to make calculation estimates in the course of the company’s analytical work. The methods for valuation of assets and their reflection in the accounting policy of a company, applied in the Russian practice, are used as a basic approach. The comparison is made for different methods of valuation relative to the intellectual capital components: comparative method, income method and cost plus method. The experience of Western countries in developing the methods for external tax assistance towards expansion of private corporate investments in intangible assets and employee training is analysed. Based on OECD’s recommendations for the development of innovations policy in the digital economy epoch, a concept of priority of developing the intellectual capital over the physical capital is formed. A description of complex tax preferences for institutions focused on innovations is given. The low efficiency of tax incentives applied today in the Russian practice, aimed at encouraging investments in the most risky forms of intellectual capital development, is proved. The following is used as an information base: scientific articles by specialists in this area, regulatory documents in the tax sphere, and data of the monitoring-based assessment of education.

intellectual capital, knowledge in the organization, intangible assets, asset valuation methods, accounting policy, governmental regulation, innovations policy, employee training, intra-company and external training, tax privileges, tax incentives, private corporate investments.

Koltsova A. A. Tax incentives for intellectual capital development // Business. Education. Law. 2019. No. 1 (46). Pp. 181–186. DOI: 10.25683/VOLBI.2019.46.168.