979Abstract. The paper analyses the main approaches to tax expenditures management in OECD countries. Tax expenditures are considered as a significant public policy instrument and a substitute for direct expenditure programs. As such expenditures are being used nowadays more often and their structure is becoming more complicated, there is a need to improve management methods. The authors study different methodological approaches to benchmark taxes definition, tax expenditures identification, measurement and calculation methods. A practical example of the three methods of tax expenditure estimation comparison has been introduced. The consideration show that most countries use a foregone revenue method in tax expenditures cost estimating. The ways and elements of regular tax expenditures reporting and integration of tax expenditures with the budget documentation are also examined. Assessment of tax expenditures efficiency requires using the following criteria: microeconomic efficiency, social or strategic objectives meeting, efficient functioning of fiscal policy. Tax expenditures management requires taking into account the ways how different tax expenditures could help meet given economic objectives in given areas and risks of tax expenditures application. An important element of efficiency assessment is comparison tax expenditures to alternative expenditure programs and other public policy instruments with similar targets. Tax expenditures implementation is reasonable only if alternative public policy tools are less efficient. As tax privileges system reform and tax expenditures implementation in the Russian Federation is currently planned, the authors recommend to take into account the lessons of the practice of tax expenditures, including the risks that such expenditures can prove to be inefficient and to create inappropriate incentives for the taxpayers.
Keywords: OECD countries, tax expenditures, public policy, foregone revenues, basic structure of taxes, efficiency
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