Features of VAT in Ukraine in the Context of Convergence with the European Legislation
Journal Title: Бізнес Інформ - Year 2016, Vol 3, Issue
Abstract
The article is aimed to identify the characteristics of VAT and substantiate its rate in Ukraine from the positions of convergence of national legislation with the EU tax legislation. An analysis of VAT as the main indirect budgetary revenue generating tax in both the EU Member States and Ukraine has been carried out. It has been found that the VAT rate, equal to 20% and 21%, is the most prevalent in the EU. In addition to the general VAT rate, in the EU Member States are also used reduced, super-reduced and zero rates. It has been determined that reducing the overall VAT rates in the EU is inappropriate, because this can lead to budgetary losses and administrative costs overspending. It has been substantiated that in the conditions of social-economic instability using the legally established in Ukraine overall and reduced VAT rate contributes to decreasing the risk of a shortfall in budgetary revenues and does not contradict the process of gradual convergence of the national legislation with the EU requirements. Increased implicit VAT rate contributes to rising tax revenues, aided by changes in tax administration in the context of implementation of the EU directives. Prospect of further research in this direction is substantiation of the ways to improve the tax administration of VAT tax.
Authors and Affiliations
Natalia Rekova, Sergiy Melnyk
Keywords
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