DEOFFSHORIZATION AND SUSTAINABLE DEVELOPMENT OF ECONOMY: TAXATION AND FINANCIAL INSTRUMENTS

The article describes the number of actions aimed at deoffshorization of economy which include owners' information disclosure, integrated control on foreign companies' activity, transparency of companies with a claim of government guarantees and participation in state procurements and fiscal stimulus which provide the policy of deoffshorization of economy. The article also reveals some causes of low credit activity of Russian enterprises of real sector of economy which are connected with considerably high cost of resources. It blunts the effectiveness of application of borrowed resources in terms of expansion and modernization of production. At the present moment the terms of raising loans for corporate borrowers can hardly be attractive by means of costs of borrowed funds and duration which are being offered by Russian commercial banks while lending money. High-quality corporate borrowers enter the international public debt market which makes now the serious competition to the banking one. Many large-scale Russian companies by means of attraction of financial resources in the debt market seek to extinguish earlier attracted loans which possess the complex loan servicing.