FISCAL EFFECTIVENESS ASSESSMENT OF THE BUDGET-GENERATING TAXES IN UKRAINE

Introduction. A significant share of tax revenues in the revenue part structure of the Consolidated budget of Ukraine forms the grounds for assessing the economic efficiency of established taxes in order to make managerial decisions in the budget and tax management field at the macro level. Therefore, it is important to analyse the fiscal effectiveness indicators of taxes that form the tax revenues majority to the budgets of Ukraine, as well as to identify socio-economic factors that affect the size of such revenues. The purpose of the article is to analyse the fiscal effectiveness indicators of budget-generating taxes, to perform a correlation analysis of the tax revenues dependence on macroeconomic indicators and substantiate ways to increase the tax revenues sources to budgets of different levels. Results. The scientists’ approaches to the definition of the essence of the category “fiscal efficiency” were considered as well as was monitored the volume and structure of tax revenues to the Consolidated budget of Ukraine for 2015–2020. The factors of fiscal effectiveness were investigated and its assessment was carried out on the basis of data on the revenues of value added tax, personal income tax, excise tax and corporate income tax to the Consolidated budget using indicators of the fiscal significance of the tax in the budget, the fiscal significance of the tax in the state GDP and the ratio of the predicted and actual indicators of tax revenues. It was performed a correlation analysis of budget-forming taxes with macroeconomic indicators, as a result of which close relationship has been determined between the number of introduced types of innovative products and the volume of value-added tax revenues of goods (work and services) produced in Ukraine; the volume of revenues from corporate income tax and capital investments made by business entities, as well as between the volume of revenues from excise tax and the number of unemployed population in Ukraine. Based on the results of the investigation, there were proposed and substantiated the ways of tax reforms and directions of government measures to increase tax revenues.

Download Full-text

Scenario approach in forecasting tax revenues of the state budget of Ukraine

Economics ecology socium ◽

10.31520/2616-7107/2019.3.3-4 ◽

2019 ◽

Vol 3 (3) ◽

pp. 27-34

Author(s):

Valentyna Martynenko

Keyword(s):

Time Series ◽

Income Tax ◽

Value Added ◽

Business Environment ◽

The State ◽

State Budget ◽

Excise Tax ◽

Tax Revenues ◽

Macroeconomic Indicators ◽

Scenario Approach

Introduction. State revenue management stands first in the areas of government regulation, which is provided by the regulation of fiscal policy. It is achieved by optimizing the amount of nationwide taxes and their tax rates, with the least amount of tax evasion. It is also important to ensure the implementation of the budget process, which is based on budget planning and forecasting, the effectiveness criterion of which is the reliability of the forecast. The compulsory component of extrapolation of time series – the most used forecasting method – is the scenario approach, so the research of possibilities of its implementation is relevant. Aim and tasks. The aim of the article is to introduce a scenario approach in forecasting tax revenues of the state budget of Ukraine. The main tasks set to achieve this aim are: modeling the dependence of tax revenues on macroeconomic indicators; trend analysis and extrapolation of time series of macroeconomic indicators; development of forecast scenarios of state budget revenues from state taxes. Results. It is proved that comprehensive stimulation of the production of gross value added, especially in the sphere of material production, as a basis for economic growth, will have a positive impact on the growth of output of goods and services, as well as will provide an increase in the revenues from value added tax (VAT) and excise tax to the state budget. Provision at the state level of further growth of the minimum wage and the deployment of social programs, as well as stimulating the legalization of shadow incomes of individuals in order to stimulate incomes of the population will lead to revenue increase from the personal income tax to the state budget. Creating favorable conditions for doing business by creating a business environment free from corruption, legalizing the shadow income of legal entities in order to maximize the profit of gross profit, mixed income will lead to an increase in corporate income tax revenues and subsoil use fee to the state budget of Ukraine. Conclusions. Over the next 5 years, aggregate tax revenues to the state budget will increase, regardless of the forecast scenario. The largest contribution to tax revenue growth can be provided by excise tax. The dynamics of the remaining taxes will also be increasing. Because the extrapolation of time series and scenario analysis are applied and universal methods of forecasting, they can be used in forecasting tax revenues of both consolidated and local budgets of Ukraine. Prospects for further research of the author will be relevant to these areas.

Download Full-text

Zasady opodatkowania dochodów i obrotów ze sprzedaży produktów wytwarzanych w gospodarstwach rolnych

Zeszyty Prawnicze Biura Analiz Sejmowych ◽

10.31268/zpbas.2021.16 ◽

2021 ◽

Vol 1 (69) ◽

pp. 189-215

Author(s):

Jacek Kulicki

Keyword(s):

Income Tax ◽

Value Added ◽

Personal Income ◽

Agricultural Activity ◽

Personal Income Tax ◽

Value Added Tax ◽

Excise Tax ◽

Agricultural Income

The analysis of the applicable regulations leads to the conclusion that the system of taxation of farmers’ income is complex. The author points out different definitions of agricultural activity for the purposes of income tax and value added tax. The legislator makes the classification of agricultural income among individual sources of income for the purposes of personal income tax dependent on whether they are processed or unprocessed products and on the method of their processing. The differences in the treatment of farmers’ revenues for the purposes of income tax overlap with the tax obligations with regard to value added tax and excise tax.

Download Full-text

PENERAPAN TAX REVIEW SEBAGAI DASAR EVALUASI ATAS PEMENUHAN KEWAJIBAN PERPAJAKAN PPH BADAN DAN PPN

E-Jurnal Akuntansi ◽

10.24843/eja.2018.v22.i01.p10 ◽

2018 ◽

pp. 245

Author(s):

I Kadek Agus Setiawan ◽

Putu Ery Setiawan

Keyword(s):

Income Tax ◽

National Development ◽

Value Added ◽

Corporate Income Tax ◽

Measuring Instruments ◽

Value Added Tax ◽

The Subject ◽

The Difference ◽

Tax Reporting ◽

The Cost

Taxes as a source of state revenues are used as a source of funds for governments for national development and measuring instruments to regulate government policies. Taxation or tax review is a measure of all company transactions to calculate the amount of tax payable and predict potential taxes that may arise under applicable tax laws and regulations. This research was conducted at PT. KBIC which is engaged in cargo of Tax Year 2015. The purpose of this study is to determine the effect of the implementation of tax review of corporate income tax and value added tax. The method used in this research is descriptive comparative. Comparing the results of tax reporting by the company with the calculation of Corporate Income Tax and Value Added Tax at PT. KBIC tax year 2015 from the researcher in accordance with the applicable tax provisions in Indonesia. Based on the results of the research, the tax review of the Corporate Income Tax has found differences in the fiscal reconciliation report on the Office of Travel and Phone Charge accounts. Taxpayers make 100% corrections of the cost of mobile phones. It should be corrected cost of 50% of the cost should be. On the company's travel account, the company can not show the official report or notes in the assignment explaining the subject or purpose of the Overseas official's travel related to the company's principal activity that causes the difference of tax correction between the taxpayer and the researcher. Tax review conducted on Value Added Tax, the taxpayer has reported the fiscal reconciliation report correctly and there is no mistake.

Download Full-text

Effect of Corporate Tax on Government Expenditure in Nigeria

Research Horizon ◽

10.54518/rh.1.5.2021.157-171 ◽

2021 ◽

Vol 1 (5) ◽

pp. 157-171

Author(s):

Patrick Ologbenla

Keyword(s):

Income Tax ◽

Consumer Price Index ◽

Government Expenditure ◽

Value Added ◽

Corporate Income Tax ◽

Value Added Tax ◽

Independent Variable ◽

The Government ◽

The Impact ◽

Bound Test

The study investigated the impact of corporate income tax on the government expenditure in Nigeria. Data on corporate income tax, value added tax, interest rate, gross domestic product, petroleum profit tax and consumer price index were collected and used as independent variable in the study while data on public expenditure were collected and used as independent variable in the estimated model. The ARDL bound test was applied and the result showed that corporate income tax have long run relationship that is significant with government expenditure. Other forms of tax such as value added tax and petroleum profit tax also have significant impact on government expenditure. The study concluded that corporate income tax should be sustained in order to ensure that government continue to fulfill her obligation of provision of social amenities that will promote the economic growth of the country.

Download Full-text

Impact of Lithuanian tax reform to companies results

Buhalterinės apskaitos teorija ir praktika ◽

10.15388/batp.2014.15a.13 ◽

2014 ◽

pp. 162-177

Author(s):

Jovita Kalantaitė ◽

Rasa Subačienė

Keyword(s):

Income Tax ◽

Social Insurance ◽

Tax Reform ◽

Shadow Economy ◽

Value Added ◽

Corporate Income Tax ◽

Tax Revenue ◽

Personal Income Tax ◽

Excise Tax ◽

National Budget

Global economic crisis reached Lithuania in 2008, as a response to ongoing economic downturn, the government of the Republic of Lithuania introduced tax reform. Analysis of factors determined by the tax reform will be presented in the article. However, main arguments will concentrate on evaluation of companies activities and results as business is one of the key pillars on which Lithuanian economy is built on: taxes form a significant part of individual company’s expenses and on the other side – taxes are a main stream of revenue for the national budget. The most significant taxes in overall national budget composition could be named as the following: personal income tax, social insurance taxes, value added tax, corporate income tax, excise tax and others. In relation to the global crisis tax income has decreased significantly in year 2009 and at the end of year 2012 has still not reached the level of year 2008. However, from the company’s perspective, employees related taxes are considered as most significant as they form almost a half of total taxes paid by companies. Decrease of taxes related to payroll (personal income tax, social insurance taxes) was followed by growth of unemployment, decrease on average salary and growth of the shadow economy. Drop in GDP, inflation and decline in sales made impact on decrease of tax revenue of value added tax, as shadow economy and reduced consumption of excisable goods influenced the value of excise tax revenue. The tax revenue of corporate income tax was influenced by decline of net profit and profitability, increased number of bankruptcy.

Download Full-text

Modeling and analysis of value added tax revenues: certain issues of application in Ukraine

Galic'kij ekonomičnij visnik ◽

10.33108/galicianvisnyk_tntu2020.06.137 ◽

2020 ◽

Vol 67 (6) ◽

pp. 137-148

Author(s):

M. Luchko ◽

R. Ruska

Keyword(s):

Arima Model ◽

Value Added ◽

The State ◽

Theoretical Development ◽

Value Added Tax ◽

Important Place ◽

Important Indicator ◽

Modeling And Analysis ◽

Tax Revenues ◽

Business Entities

The issues of modeling and analysis of revenues to the budget of value added tax using the mathematical ARIMA model by means of STATISTIKA package are investigated in this paper. Based on its application, recommendations for forecasting the revenues of this tax on the basis of current trends in its receipt are formed. On the basis of universal and non-universal argumentation and empiriсal data, the payment of this tax by business entities is considered. Value added tax (hereinafter – VAT) is an important indicator of the country's budget. The reliability and reality of the planned VAT indicator depend on the assessment of the state, forecast, seasonality and trends of economic and social development. Sustainable development, consistency of tax legislation, forms and methods of work with taxpayers, contribute to proper administration of taxes, efficient and complete receipt of payments to the budget, the level of financial and tax culture and other factors of socio – economic impact. This in turn leads to the confidence of entrepreneurs, investors to the state and the desire to work in it. The purpose of the article is to investigate the issues of analysis, modeling and forecasting of VAT payments for goods, works and services produced in the customs territory of Ukraine. At the macro level, special attention is paid to the projected amount of tax revenues to the budget. VAT should take an important place in tax planning and forecasting. Complete and adequate planning and forecasting, analysis of its revenues in practice is determined by the overall comprehensive and individual understanding of the nature, content and mechanism of administration. Insufficient theoretical development of forecasting and control of its payment, lack of a systematic approach to the investigation of this process, in practice makes it impossible to make effective management decisions on tax revenues, which the state can really rely on while implementing fiscal policy. The current practice requires the development of theoretical and methodological principles of modeling and tax forecasting of VAT, its analysis. These issues are investigated in this paper.

Download Full-text

Analysis of Tax Structure Performance and its Ratio in Indonesia

Asian Journal of Economics Business and Accounting ◽

10.9734/ajeba/2021/v21i1430466 ◽

2021 ◽

pp. 1-11

Author(s):

Amri Amir ◽

Adi Bhakti ◽

. Junaidi ◽

Syahmardi Yacob

Keyword(s):

Income Tax ◽

Value Added ◽

Sales Tax ◽

Tax Revenue ◽

Tax Structure ◽

Value Added Tax ◽

Luxury Goods ◽

Average Value ◽

Tax Revenues ◽

Tax Ratios

This study aims to determine and analyze fluctuations in tax revenues, tax structure, and factors that determine tax revenues and ratios in Indonesia. The data used are data on the structure, revenue, and tax ratios from 2001 to 2017. The results show that the tax structure in Indonesia was dominated by direct taxes (income tax and personal tax) with contributions >50% and progressive, while indirect tax contributions (Value-Added Tax, Sales Tax on Luxury Goods, etc.) are around 30%. The tax ratio is still low at 14.58 percent. The results also show that GDP influences tax revenue, while the value of exports and the number of taxpayers have no effect. The tax ratio in Indonesia is influenced by GDP and the value of exports, while the mandatory amount has no effect. From a sample of 150 SMEs in Jambi, it is known that the level of compliance, obedience, assessment of tax servants is considered very good (average value> 80). Taxpayers' confidence in the use of tax funds for the benefit of the state is still low at 40.27, and sanctions for non-negotiable tax violations are also low at 48.53.

Download Full-text

METHODOLOGICAL APPROACHES TO THE ASSESSMENT OF THE TAX POTENTIAL OF THE REGIONS OF UKRAINE

Proceedings of Scientific Works of Cherkasy State Technological University Series Economic Sciences ◽

10.24025/2306-4420.1.60.2021.228615 ◽

2021 ◽

pp. 72-80

Author(s):

Svitlana Demydenko ◽

Viktor Demydenko

Keyword(s):

Income Tax ◽

Value Added ◽

Real Income ◽

Gross Regional Product ◽

Tax Base ◽

Excise Tax ◽

Advantages And Disadvantages ◽

Tax Revenues ◽

Potential Index ◽

Regional Product

The article considers the essence and main properties of the tax potential of the region. The structure of tax potential, including three main components – realized, unrealized and forecasted ones – is studied. It is proved that the main sources of tax potential formation are potential tax revenues, opportunities of taxpayers, tax base resources and rates. The results of an analysis of tax revenues structure in Consolidated Budget of Ukraine for 2013–2019 have shown that the actual tax revenues, forming the realized component of the tax potential, occupy the largest share among all types of budget revenues. The main budget-forming taxes in Ukraine are personal income tax, value added tax, corporate income tax, and excise tax. The characteristics of the existing methods of assessing the tax potential in the region, their advantages and disadvantages are given. To assess the tax potential of the regions in Ukraine, the method using the index of tax potential based on gross regional product has been applied. The analysis of the tax potential index has allowed to systematize the regions of Ukraine into groups according to the indicator of tax capacity, to objectively assess the real income opportunities of each region in the country and to prove that the factors of influence on increasing tax potential should be the growth of gross regional product and income. It is proved that the assessment of tax potential is an important step in the system of tax planning and forecasting, which is based on information about the level of potential income. Based on the results of the assessment of the tax potential of the regions, it is advisable to develop measures aimed at expanding and improving the structure of the tax base, which may be prospects for further development in this area.

Download Full-text

WAYSTOIMPROVETAXADMINISTRATIONOFLARGETAXPAYERS

Innovation in the economy ◽

10.26739/2181-9491-2021-9-10 ◽

2021 ◽

Vol 4 (9) ◽

pp. 64-73

Author(s):

Umidjon Pardayev ◽

Keyword(s):

Fiscal Policy ◽

Income Tax ◽

Value Added ◽

Threshold Value ◽

International Experience ◽

Tax Administration ◽

Value Added Tax ◽

The Republic ◽

Business Entities ◽

Simultaneous Implementation

ThisarticledescribesthestagesofimprovingtaxadministrationintheRepublicofUzbekistan,inparticular,reformstodeterminethecriteriaforinclusioninthecategoryoflargetaxpayers.Scientificapproachestofiscalreformsthatcontributetothedevelopmentofeconomicentitiesinthecountryareproposed.Theaimofthestudyistodevelopproposalsandrecommendationsaimedatimprovingthetaxadministrationoflargetaxpayers.Scientific novelty of the research:1. The necessity of simultaneous implementation of reforms aimed at creating equal conditions for all business entities while improving tax administration in the Republic of Uzbekistan has been scientifically substantiated.2. The expediency of determining the criteria for the inclusion of legal entities in the category of large taxpayers on the basis of international experience and practice has been proved.3. The need to change the threshold value for taxpayers in a simplified and generalized form in order to improve the efficiency of tax administration is scientifically substantiated, together with the tax administration of large taxpayers in the country.Keywords.Large taxpayers, fiscal policy, tax administration, budget revenues, value added tax, income tax, tax thresholds

Download Full-text