THE CURRENT STATE OF DEVELOPMENT OF SMALL BUSINESS TAXATION IN UKRAINE

The article is devoted to the study of the current state of small business development and the need to reform the simplified taxation system, as well as to identify areas of stimulation of small business methods of state tax policy. It is considered that the taxation of small business is carried out in two forms - general or simplified. There is also found a single tax being the best way to tax small businesses because the general system of taxation is unclear and burdensome. It is determined that the system of simplified taxation promotes the development of small business by simplifying tax accounting and offers recommendations for improving the simplified taxation system in Ukraine. The rates of the single tax by groups, as well as the dynamics of tax revenues to local budgets from both legal entities and individuals are analyzed. It is found that the development of small business is possible only by combining and coordinating different forms, methods, means of regulation and state support, and the system of taxation of small businesses should be aimed at stimulating the development of small business and further filling budgets. Deficiencies in the legal framework related to the development and state support of small business in Ukraine are identified and ways to address them are proposed. It is substantiated that the most important method of influencing the activities of small business is the fiscal mechanism, which needs to be reformed in the direction of providing favorable conditions for doing business and attracting investment by building an incentive tax system. Experience of small business taxation in developed countries and new methods of state support that can be implemented in the tax policy of our state are studied. It is proved that if you exempt companies from taxation for a period of one to three years, provided they reinvest half of the net profit has a positive effect on the development of the company and the growth of tax revenues from its activities to the budget. The introduction of this tax regime in Ukraine will promote the development of small business, expand production, increase employment, increase competition, grow small businesses into medium and large and, as a consequence, increase tax revenues.

Taxation and the Peer-to-Peer Economy

The growth of the peer-to-peer (P2P) economy over the last decade has captivated both stock markets and policymakers alike. While the means for transacting might be different to existing firm structures—with the emergence of digital platforms that connect individual buyers and sellers directly—the tax behavior of individuals operating in this new economy are very familiar. What is clear is that while the P2P economy has potentially exacerbated existing policy, administrative, and revenue-mobilization challenges associated with small business taxation—such as the choice of the tax base and how to set tax thresholds—, the technology behind P2P platforms presents a valuable opportunity to eventually solve them.

Transformation of the taxation system and its influence on enterprise development in the Republic of

The research studies impacts of new tax changes to the small businesses, unemployment and to economic growth in Uzbekistan. The study shows that the tax policy directed on perfection of tax mechanisms, reduction of tax rates aimed to raise economic efficiency of manufacturing and increasing individual income. As a result from year to year the tax burden is reduced and the taxation order becomes simpler. Empirical analysis shows that only for last seven years the general tax burden in economy was reduced with 40 to 27 percent. The author found problems existing in small business taxation and generalizes recommendations for simplification of tax system and tax administration.