The paper is devoted to the topical problems of tax incentives for investment. The research starts from the premise that
financial access can be positioned as one of the determinants of tax incentives for investment. At the same time, we consider
financial access primarily as the availability of external investment financing, which allows us to combine the problems of
financial development, investment activity and tax incentives into a single context. Thus, the research purpose is to prove
the importance of financial access as a determinant of tax incentives for business investment activity in the Russian
Federation. To this end, we address the theoretical and methodological aspects of the problem, including scientific ideas
about the content of financial access, approaches to its assessment, and the relationship with investment processes. Having
specified the interpretation of financial access as a determinant of tax incentives for business investment activity, we analyze
empirical data on investment financing in Russia. It is revealed that the predominant share in the total volume of investment
financing is accounted for self-financing. This situation does not contradict the world practice. However, a negative feature
of Russia is the lack of bank lending to investments. Against the background of banks ' dominance in the financial structure
of the economy, this reflects the destructive nature of financial development and the inefficiency of the investment policy
being implemented. Summarizing the results obtained allows us to suggest recommendations for the development of tools
for tax incentives for investment. The novelty of the author's approach is that it is aimed at the lender, which interacts with
the investor. This makes it possible to increase the effectiveness of tax incentives for investment and overcome the most
serious gap in the level of financial access. In particular, it is proposed to introduce a special credit a contract under which
credit institutions that provide investment loans at a below-market rate will be able to recover lost income through tax
deduction.
