STIMULATING INNOVATIVE ECONOMIC GROWTH IN THE CONTEXT OF DIGITALIZATION OF THE GLOBAL MARKET: THEORETICAL FOUNDATIONS AND INTERNATIONAL EXPERIENCE

Анотація

The article is devoted to a comprehensive analysis of the role of tax instruments in stimulating innovative economic growth in the context of global digital transformation, which significantly changes the principles of functioning of national economies and the world market as a whole. The purpose of the study is to identify and thoroughly analyze the impact of fiscal instruments on economic growth based on innovations, digital technologies and the development of the knowledge economy. Particular attention is paid to revealing the essence of innovative economic growth in the modern digital era, determining its key characteristics, factors of formation and the role of state policy in supporting the innovative activity of business entities. Tax incentive instruments are systematized and classified, which include direct (tax benefits, loans, investment deductions), indirect (accelerated depreciation, tax rebates) and mixed mechanisms that combine elements of different approaches. Their effectiveness in the context of stimulating research and development, the development of startups and the implementation of digital innovations is studied. Separately, the article analyzes the contradictory impact of digitalization, which, on the one hand, contributes to increasing transparency, efficiency and automation of tax administration, and on the other hand, creates new challenges for fiscal systems, in particular related to the taxation of transnational digital corporations, the erosion of the tax base and the need for international coordination of tax policy. National models of tax incentives are examined in detail using the example of the USA and China, their key instruments, institutional features and approaches to supporting innovative development are identified. The comparative analysis made it possible to identify both common trends and differences in the formation of tax policy in the digital economy. As a result, it is substantiated that the development of an adapted, flexible and strategically balanced state tax policy is a critically important factor in ensuring sustainable innovative development, increasing the competitiveness of the national economy and effective integration into the global digital space.

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