Бюджетно-податкове стимулювання інноваційної діяльності в Україні

Abstract

The article analyzes legal framework and practice of fiscal support for innovation in the form of tax incentives and budget funding. The authors summarized existing EU approaches to fiscal stimulation. The authors have analyzed two models of income tax reliefs: 1) Research and Development tax relief/super deduction (UK); 2) Research and Development tax credit and additional (premium) amortization of fixed assets for innovation projects (France). The authors have made estimations of the impact of tax incentives for these models and revealed certain conditions under which these models may appear ineffective. Authors recommend to use the second model for Ukrainian tax reform purposes, because such model is able to create the basis for the development of innovation activities, whereby tax savings would be used to acquire new technologies, fixed assets, equipment and intangible assets (given the high depreciation, low efficiency of capital investments and delays in implementing of new technologies). It is established that the development of innovative businesses and promoting scientific and technological activities of enterprises is a complex issue that affects various aspects of public administration. To ensure progress in this sphere, the following tasks should be completed: ensuring sufficient funding and good governance in education and fundamental scientific research; establishing transparent requirements for assistance to entrepreneurs in research and innovation; and increasing the number of tax incentives for innovation. The authors propose various amendments to the Tax and Customs Code of This article continues the discussion on the creation of an effective national research and innovation system that would speed up Ukraine's integration into the world economic and technological space, and concentrate available resources (capital, labor, market) to achieve national priorities as key factors for economic development. The article was written as part of the research on: Consolidation of public finances of in conditions of the global financial instability, Financial support for structural modernization of the real sector of Ukraine's completed at the for Economics and Forecasting, NAS of The article was written as part of the research on: Public finance consolidation in in the global financial instability, and Financial support for structural modernization of the real sector of economy of Ukraine completed at State Institution Institute for Economics and Forecasting of NAS of Ukraine.