Title: Liberalisation of taxation as a prerequisite to forming a pleasure economy: special tax regimes, tax holidays and family business taxation

Authors: Irina V. Gashenko; Irina V. Orobinskaya; Yulia S. Zima; Tatyana V. Makarenko

Addresses: Rostov State University of Economics (RSUE), Rostov-on-Don, 344002, Russia ' Voronezh State Agrarian University named after Emperor Peter the Great, Voronezh, 394087, Russia ' Rostov State University of Economics (RSUE), Rostov-on-Don, 344002, Russia ' Rostov State University of Economics (RSUE), Rostov-on-Don, 344002, Russia ORCID: 0000-0002-0863-7984

Abstract: This research is aimed at identifying the prospects and developing recommendations for the optimisation of liberalisation of taxation as a prerequisite to forming a pleasure economy. The methodologies of this paper include a time-series analysis method (using regression and correlation analysis), as well as a survey method (for the collection of empirical data not available from official statistics). It has been proved that liberalisation of taxation is a prerequisite to forming a pleasure economy. However, the beneficial effect of liberalisation of taxation associated with increased happiness of entrepreneurs may vary; in particular, it can be zero and even adverse. As exemplified by contemporary Russia, an overall reduction of the tax burden on business is the least preferred option for liberalisation of taxation. Being intended to fully cover the entire business, it does not increase happiness of entrepreneurs.

Keywords: liberalisation of taxation; pleasure economy; Russia; happiness of entrepreneurs; special tax regimes; tax holidays; family business taxation.

DOI: 10.1504/IJTGM.2021.116725

International Journal of Trade and Global Markets, 2021 Vol.14 No.4/5, pp.459 - 467

Received: 08 Feb 2020
Accepted: 09 Mar 2020
Published online: 31 Jul 2021 *

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