Issue |
SHS Web Conf.
Volume 109, 2021
International Scientific and Practical Conference “Law and the Information Society: Digital Approach” (LISID-2020)
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Article Number | 01036 | |
Number of page(s) | 6 | |
DOI | https://doi.org/10.1051/shsconf/202110901036 | |
Published online | 31 May 2021 |
Modern financial and legal relations trends and economy digitalization
1 Crimean branch of the Federal State Budget-Funded Educational Institution of Higher Education “The Russian State University of Justice”, Simferopol, Russia
2 Crimean branch of the Federal State Budget-Funded Educational Institution of Higher Education “The Russian State University of Justice”, Simferopol, Russia
3 Crimean branch of the Federal State Budget-Funded Educational Institution of Higher Education “The Russian State University of Justice”, Simferopol, Russia
semmich@mail.ru
* Corresponding author: bolero_8@mail.ru
nataliakravchenko85@gmail.com
The article considers the trends in the development of financial and legal relations, which are caused by changes taking place in economic and social relations through the introduction of digital technologies. In conducting the study the authors analyzed the totality of currency, banking relationships, insurance relationships, budgetary legal relations and financial market relations. As a result of the study, the authors concluded that it is necessary to improve the mechanism of legal regulation of the use of such financial instruments as blockchain, cryptocurrency, etc., as well as the supervisory functions of the Bank of Russia credit bureaus in order to increase confidence in financial market participants.The authors also justify the need to introduce specific taxes (taxation on payments made for the purchase of goods and services over the Internet, or a tax on turnover from commercial activities on the world wide web) in order to prevent digital businesses from tax avoidance. An implication of the analyses is identifying tools that ensure a transparency of the budget system. Control approaches themselves have also been transformed. Thus, risk-based approaches have been used, as well as ratings of control objects by the level of reliability. It also requires further analysis of the regulatory tools that can be applied by public authorities, changes in the object and tax base, the procedure for collecting taxes, and possible tax benefits. The results can be used in further research to develop an effective legal mechanism for regulating financial and legal relations in modern economic condition.
© The Authors, published by EDP Sciences, 2021
This is an Open Access article distributed under the terms of the Creative Commons Attribution License 4.0, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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