Experts Talking about Necessity to Develop Unified Procedure of Monitoring and Assessment of Efficiency of Tax Concessions

2 november 2015

The Analytical Center for the Government of the Russian Federation and the Ministry of Finance of the Russian Federation are participating in the preparation of a report on the best regional practice of raising the efficiency of the public finances management.

The main problems and suggestions to the issue of improvement of the budget policy in the sphere of the government support of the real sector of economy and the implementation of investment projects with the government participation presented by regions have been discussed during the round table "Improving budget policy in the sphere of investment activity.'

The expert of the Analytical Center Tatyana Gorovaya noted that the biggest part of problems described in proposals is connected with the insufficient amount of investment projects implementation financing.  Among other acute problems the expert named the insufficient level of mechanism development of attracting private investments, low  quality of project documentation preparation and performing of competition procedures, late receipt of federal budget money in regions and dishonesty of subcontractors. 'In the meanwhile problems influencing efficiency of forming, implementating and monitoring of investment projects, are not considered. The comparative analysis of the selection of  optimal efficient measures of the project support is not being performed, potential investors do not have the full and true information about objects and sites which can be used, while late deadlines of project documentation approval are leading to the delay of the realization terms,' said the expert. Besides, funds spent on the preliminary stage of the project increase the inefficiency of budget costs if the project is not implemented.

The Deputy Head of the Ministry of Economy of the Republic of Tatarstan Bulat Khaziakhmetov informed that the legislative base and the required investment infrastructure have been established. 'Nowadays it is not enough to attract the investor providing him with essential conditions to run the business, it is necessary to provide the quality of follow-up, to form the 'single window' mode, - the official assumes. Khaziakhmetov noted that in the region there is its own Investment Development Agency which provides the support to the project in the “single window” mode, the programs of supporting small and medium-size business are being realized, the Fund of Entrepreneurship Support is functioning. The exchange of experience as well as the establishment of standards and best practices atlases can promote positive development of the situation.

'The important factor in the issue of efficiency and transparency of the use of budget funds is the BIM-technologies which will allow to increase efficiency not only at the stage of substantiation of investments or the project but during the whole life cycle of the object,' said Vladimir Denisov, the Acting Director of 'Mosgorexpertiza.'

In whole experts noted that the unified procedure of monitoring and assessment of efficiency of tax concessions must be developed on the federal level.