TAX ON THE WITHDRAWN CAPITAL AS THE ALTERNATIVE OF INCOME TAX
Journal Title: Сталий розвиток економіки - Year 2017, Vol 35, Issue 2
Abstract
Purpose is to consider alternatives to the corporate income tax and the rationale for its transformation into a tax on the withdrawn capital. Methodology of research. The method of theoretical generalization and the comparison was the basis of development schemes of mechanism of payment of tax withdrawn capital. Logical methods, methods of induction and deduction, generalization and analysis were the basis for bringing the bill "On Amendments to the Tax Code of Ukraine concerning tax on capital withdrawn". Monographic method used for presentation results of the study. Findings. Reviewed classic model of taxation of enterprise profits and proved its inefficiency. Positive aspects and disadvantages tax on the withdrawn capital was considered. A scheme of mechanism of payment of tax on the withdrawn capital was constructed. The expediency of transforming the income tax in the tax on the on the withdrawn capital was substantiated. Originality. Was substantiated the expediency of transforming the income tax in the tax on the withdrawn capital, examined the mechanism of payment of tax on othe withdrawn capital and determined implementation of priority actions in national practice tax on the withdrawn capital. Practical value. The survey results in the form of suggestions can be used in the discussion of the draft law "On Amendments to the Tax Code of Ukraine concerning tax on capital withdrawn" and included in further tax reforms in the country. The introduction of tax on the withdrawn capital will simplify the business tax system, reduce the fiscal pressure on businesses, increase working capital and the ability to reinvest in expansion.
Authors and Affiliations
Nataliia Levchenko, Valentyna Pomulieva, Оksana Borovskych
Keywords
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