ПОДАТКОВІ СТИМУЛИ ЕКОНОМІЧНОГО ЗРОСТАННЯ: ДОСВІД ПІВДЕННОЇ КОРЕЇ

Abstract

The article is devoted to the study of South Korea’s tax policy, its impact on the economic development of this country and ways to use the experience of its tax reforms for the postwar reconstruction of Ukraine. The study has found that a set of measures aimed at stimulating South Korea’s economic development included tax breaks aimed at supporting its export sector, with a focus on knowledge-intensive and high-tech products. The correlation analysis has been used in this study demonstrated the well-known export component of South Korea’s economic growth and has confirmed the positive impact of lower overall tax rates on the country’s GDP growth rate. However, the analysis showed that the correlation of GDP growth with tax revenues in total GDP is almost absent, which means no relationship between the share of taxes in GDP and its growth rate. It has been found that tax policy in combination with other economic measures had a positive impact on the economic development of South Korea. In particular, the country has used special depreciation, investment tax credit and tax free reserves, tax holidays and other tax benefits that had a positive impact on the development of science-intensive export-oriented production. However, it is difficult to measure the net effect of tax breaks on the Korean economy, as they have been accompanied by other measures, such as export industries, which also received widespread credit support in the 1960s. The analysis revealed that the main shortcomings of South Korea’s tax system, which have held back its economic growth for a long time, include the non-transparency of preferential taxation and the complexity of the tax system as a whole. However, in general, the analysis shows that the share of taxes in South Korea’s GDP compared to other countries is at an average level. The article identifies promising ways to use the Korean tax experience in our country. Given the experience of South Korea, the reform of Ukraine’s tax system in the direction of promoting a knowledge intensive export sector on the basis of transparency and prevention of corruption is considered as promising.