The impact of progressive taxation on the financing of regional investment projects

The article examines the mechanisms of the influence of progressive taxation on the financing of regional investment projects using the example of the Republic of Dagestan and the Chechen Republic. The article analyzes the distribution of tax revenues between the federal center and the regions, as well as direct and indirect mechanisms for the transformation of tax revenues into investment resources. Based on statistical data on tax regulations, budget indicators and the implementation of specific investment projects (Novolakskaya wind farm in Dagestan worth 53.6 billion rubles, modernization of the Chechentsement cement plant worth 22.9 billion rubles), key patterns of financing regional development have been identified. The conclusion is made about the dominant role of federal targeted programs and infrastructure budget loans as the main channel for financing investments in the regions under consideration.