of the strategy of the socioeconomic growth.
Transformation of relieves is needed in order to strengthen their stimulating impact on the economy development
and achievement of the effect and increasing social returns. Currently, there is no single mechanism of granting
relieves in the country, which would define the objectives, priorities, and types of granting relieves, correlated
and complementing each other by all types of taxes. The result of this is that the relieves provided for in the
mechanism of certain taxes lose their stimulating effect and weaken the overall efficiency of the fiscal policy.
Objectives, priorities, and types of granting tax relieves should be more closely aligned with national priorities.
Analysis of legislative acts of the Russian Federation shows that out of 200 currently effective tax relieves, only
15 target encouraging investments and innovations (Orlov, 2013). Under these conditions, the existing
mechanism of granting tax relieves is hardly consistent with the priorities of the government in the field of
stimulation of investment activity of the economy, development, and implementation of innovations. In the
situations where the share of high-tech products of Russia is less than 2% in the international market and