Modern methods of innovation activity stimulation: «patent box» and «tax credit»

Abstract

Purpose: this article is devoted to the financial analysis of innovation activity of the company in oil and gas industry and the search of methods to decrease the level of dependence from foreign technologies. Discussion: in this article, the profitability of innovation activities of oil and gas company was assessed. Innovative methods of tax incentives were considered, namely, «tax credit» and «patent box». Sanctions from the United States and European countries have limited the transfer of innovative technologies for extracting oil and gas from hard-to-recover reserves. Thus, companies in the oil and gas sector of Russia are forced to use their own research resources to develop the required technologies. Results: the author analyzed the results of the innovation activities before and after the introduction of innovative tax incentive tools and proposed the most efficient combination of them.