FORMATION OF TAX POTENTIAL OF THE INSURANCE FIELD IN MODERN CONDITIONS

Abstract

The purpose of the study is to determine the trends in the formation of tax potential in the insurance industry in modern conditions, including under the influence of crisis phenomena in the economy caused by the impact of the Covid-19 pandemic on the economy, and justify the feasibility of introducing a tax on insurance premiums. The subject of the study is the socio-economic processes that arise in the insurance industry in the formation of tax potential. Research methodology : the dynamics of tax payments received from insurance activities in the Russian Federation, as well as tax revenues from insurance organizations in the context of federal districts for 2017-2019, is analyzed. The tax payments paid by insurance organizations are structured and the source of tax potential is determined - the corporate income tax. Research results: the dynamics of the formation of the tax potential of the insurance sector in the context of federal districts and types of tax revenues is analyzed. It is proved that the main source of the tax potential of insurance is the income tax of insurance organizations. The insurance industry is not on the list of organizations affected by the pandemic; therefore, its tax potential has relatively stable sources of income, even in crisis conditions. A mechanism to improve the taxation of insurance companies in order to increase the tax potential of this source of income is proposed.