Abstract
The article characterizes the relationship between capital investments and corporate income tax preferences. It determines the low potential of the benefits from the corporate tax preferences in the financial investments of economic entities. The article proves that tax deduction of the personal income tax significantly affects the financial investments of individuals and investment in the development of human capital. Based on the calculation of correlation indicators, the article determines that it is worth paying attention to the mechanism of tax incentives for individuals' investment activity as to the only real incentive to invest for the population. The article emphasizes that the question of the effectiveness of preferential taxation has always been in the focus of theoretical research and practical measures, as it causes the non-receipt of certain sums to budgets of different levels and, at first glance, seems ineffective. The study expresses the view that it is unreasonable to cancel tax privileges. In particular, tax exemptions for VAT, in addition to mitigating its regressive impact on less affluent and socially vulnerable segments of the population, stimulate investment.The article mathematically grounds and systematizes the indicators of regression dependence between the size of tax privileges and capital and financial investment, and investment in the development of human capital. The article determines that in general the size of tax privileges does not affect the volume of tax revenues and does not lead to the significant losses of the state budget. Taking this into account, VAT and land tax deductions for agricultural producers, aircraft, shipbuilding and other strategically important industries need to be preserved and optimized in order to eliminate tax evasion practices. The potential of corporate income tax benefits is not utilized and it does not stimulate the capital investment of legal entities. The article suggests the list of measures for its optimization.
Highlights
The level of investment in the domestic economy is insufficient due to the influence of internal and external factors, which include the recession of the economy and the threat of default, military actions in the east, imperfect legislation, unattractive investment climate and lower investment attractiveness of Ukraine on the background of macroeconomic instability, etc
It can be argued that the Ukrainian investment market is integrated into the world market, as it is evidenced by a significant drop in investment returns in the crisis of 20092010, by a slight recovery in the post-crisis period of 2011-2012 and further decline in 2013-2014
The dynamics of capital investment by sources of financing during the analyzed period shows that the largest share in their structure was takenby own funds of enterprises and organizations
Summary
Держ.упр., докторант кафедри регіонального управління та місцевого самоврядування Львівського регіонального інституту державного управління Національної академії державного управління при Президентові України, ПОДАТКОВІ ПІЛЬГИ ТА ЇХ ВПЛИВ НА ІНВЕСТИЦІЇ В УКРАЇНІ Анотація. Oхарактеризовано залежність між капітальними інвестиціями та пільгами з податку на прибуток підприємств. Визначено низький потенціал пільг з податку на прибуток підприємств у фінансових інвестиціях суб’єктів господарювання. Потенціал пільг з податку на прибуток підприємств не використаний і не є стимулятором для капітальних інвестицій юридичних осіб. Ключові слова: інвестиції, податкові пільги, податок на прибуток підприємств, розвиток людського капіталу, податкове регулювання інвестицій, національна економіка, фінансові інвестиції. Потенциал льгот по налогу на прибыль предприятий не использован и не является стимулятором для капитальных инвестиций юридических лиц. Ключевые слова: инвестиции, налоговые льготы, налог на прибыль предприятий, развитие человеческого капитала, налоговое регулирование инвестиций, национальная экономика, финансовые инвестиции
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