One of the main sources of investment resources of companies is profit, which may be increased primarily due to
preferential tax treatment. Economists recognized that those are direct taxes, including mainly the corporate
profit tax, that have significant potential for the regulatory impact on the pace, scope, and direction of the
investment activity. For this tax (despite the abolition of relieves since 01.01.2002), it is currently possible to
include the costs accounted for tax purposes, namely the costs for Research and Development, the costs for
repair and development of natural resources; and also the possibility of using the multiplying factor (1.5) with
the purpose of accelerated accounting of current costs for research and development is provided. However, the
advantages of the regulatory nature of the corporate profit tax in the Russian practice of taxation are not fully
used. Currently in the Russian Federation, it is reasonably necessary to expand investment tax relieves at the
expense of the costs for acquisition and implementation of innovative technologies at taxation of the profit.
The mechanisms of tax relieves in effect in Russia are aimed mainly at supporting development of innovative
products. However, it is not enough just to create an innovative product. It must be put into production. The
successful solution of the problem of modernization of economy is possible with the creation of conditions for
development of the real sector of the economy using innovative ideas and innovative products. At establishing
tax relieves aimed at supporting individual sectors and industries of the economy, one should define the goals
that must be achieved in the result of their application, record the socioeconomic indexes of the taxpayers'
performance (growth of production volumes, additional budget revenues, creation of new jobs, rise of wages,
etc..).