Tax concessions as means of stimulating economic growth
Abstract
Tax concessions as means of stimulating economic growth
Incoming article date: 08.06.2015The article discloses significance of state regulation instruments used to come out from a recession phase of the global economic crisis, wherein not only financial support of the stability of financial system, but tax incentives designed to encourage entrepreneurship, as a source of economic growth, are effective. Due to chosen strategy and formulated background, tax system reform in the country, held in conjunction with adjustments to the current tax legislation, serves as the most efficient measure to overcome the crisis and get economy back on track. Implementation of this package plan not only meet the needs of the population and make up for human potential, but also stimulate social production, development of its structure and the pace of modernization.
Keywords: global economic crisis, governmental regulation, tax incentives, promotion of export-oriented enterprises, sources of economic growth