Methodology for calculating a special tax rate for securities market participants

The most important task for the regulator at the current stage of development of the domestic securities market is the timely suppression of violations of illegal activities of participants. The existing protection system is characterized by low efficiency, mechanisms and tools have a number of disadvantages, which makes it impossible to prevent the occurrence of unfair practices. One of the most significant is the lack of their economic justification, as well as the discrepancy between the damage that may be caused as a result of illegal actions of such participants. At the same time, reducing cases of violations of legislation in this area will increase the confidence of participants in the market, as well as ensure its transparency.

The purpose of the research is to develop a methodology for calculating a special tax rate for securities market participants, as well as determining the amount of tax deductions. The author's methodology is based on the principles put forward for this tool in connection with the emerging contradictions.  

The paper suggests the use of a financial mechanism tool to counteract unfair practices in the securities market. The key contradictions that arise during its implementation, as well as ways to overcome them, are identified. The basic principles (prevention, preservation of the interest of participants, validity, proportionality, universality) are formulated, which should be taken into account when developing methods for calculating the key components of the instrument. 

For citation: Posnaya E.A., Malyshenko M.V., Kokodey T.A. Methodology for calculating a special tax rate for securities market participants // // Uchenye zapiski Mezhdunarodnogo bankovskogo instituta [Proceedings of the International Banking Institute]. 2026. 1 (55). pp. 196-214 (in Russ.). EDN: UIIEYH.

Funding: This research received no external funding.