DEVELOPMENT OF INNOVATIVE CLUSTERS IN FREE ECONOMIC ZONES: TAX ASPECT
DOI:
https://doi.org/10.31732/2663-2209-2025-78-15-22Keywords:
free economic zones, innovation clusters, innovation activity, tax breaks, tax burden, customs regulation, economic developmentAbstract
The article examines the impact of free economic zones (FEZ) on the formation of innovation clusters, in particular through tax incentives. It is established that the formation of innovation clusters in free economic zones is a strategic tool for stimulating economic development, attracting investment and developing high-tech industries. It is proven that one of the key factors for the successful functioning of such clusters is the tax aspect, which includes special tax regimes, benefits for residents and mechanisms for stimulating innovation activity. The aim of the article is to analyze the impact of tax instruments on the formation and development of innovation clusters in FEZs, determine optimal approaches to their taxation, and assess the effectiveness of existing tax incentives. The article examines the theoretical principles of the functioning of innovation clusters, the features of their tax regulation in FEZs of different countries, as well as practical aspects of the application of tax benefits to attract innovative companies. International experience was analyzed, key mechanisms for tax incentives for innovative activity were identified and their effectiveness was assessed. Based on the analysis of world experience (using the examples of China, the UAE, Singapore and other countries), key success factors were identified, such as reduced corporate tax rates, VAT exemptions, tax holidays for startups. Special attention was paid to the risks associated with tax discounts, in particular, possible losses of budget revenues, unfair competition between regions and abuse of privileges. The study also analyzes the impact of international tax initiatives (e.g., OECD BEPS standards) on the functioning of FEZs and offers recommendations for adapting national tax systems to modern challenges. Special attention is paid to the Ukrainian context, problems of FEZ development, and proposals for improving tax policy. The conclusions emphasize that effective tax policy in SEZ innovation clusters should combine business incentives with control mechanisms, ensuring long-term economic impact. The results of the study may be useful for economic policymakers, SEZ administrations, and innovative companies planning to expand their activities.
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