Comparative Analysis of the Depositor Rights’ Protection Systems in the Russian Federation and the Republic of Belarus

The research explores new approaches to reforming corporate tax in the Russian Federation in the part of stimulating research and development. Methodologically it relies on the systematisation of ap? proaches existing in international academic community in relation to the assessment of consequences of applying tax incentives for innovations in particular countries (groups of them), and efficiency of using tax privileges and research and development investments in different countries, industries, companies, at various stages of their lifecycles, as well as factors behind it. The researchers analyse the impact of tax privileges for R&D during calculation of corporate tax in various countries with particular emphasis on the USA, Great Britain, Canada, Germany (world leaders in R&D), and Russia by qualitative and qualita? tive methods. In addition, they scrutinise world trends in reforming taxation of profit earned from R&D. As a result of the research, the authors formulate directions of tax incentives to stimulate growth of in? novation in Russia’s socioeconomic conditions; provide recommendations on changing the procedure of recognising research and development expenditures during the calculation of tax base depending on the expenditures’ types and volume, innovative process, industry, type and size of company activities; justify a preferential taxation regime for revenues derived from the use of intellectual property.