The assessment of interest income taxation influence on results of bank’s deposit activity
Journal Title: Економіка. Фінанси. Право - Year 2018, Vol 12, Issue
Abstract
The article examines the importance of the deposit policy of banks in the context of deposits of individuals. An important place in the process of managing the bank's deposit activities is measures that affect the economic behavior of potential customers - individuals. Each bank aims to increase the number of depositors, accordingly, due to this, an increase in the resource base will take place and more money will participate in monetary and credit turnover. In the article the tendencies and problems of development of deposit business of commercial banks of Ukraine in modern conditions were considered. The purpose and tasks of management of the resource base of the bank are determined. The factors influencing the decision making of depositors on the placement of temporarily free cash funds are disclosed. The practice of taxation of deposit deposits in the world and the size of deposit interest rates is shown. The average rate of income tax on individuals' deposits in the world is determined at the level of 25-30 %. A complex analysis of deposits volume and factors (both internal and external), that have an impact on their size and on interest income of depositors has been carried out. These factors include: inflation index, deposit and tax rates for the years analyzed. All these factors significantly reduced the income received by individuals from deposits, which totaled UAH 63.3 billion at the rate of 18.3 % in 2013, and in 2016 it amounted to UAH 49.58 billion at a rate of 17 %, that is, the rate decreased by 1,3 percentage points, and revenue decreased by UAH 13.72 billion. The influence of changes in the state tax policy and deposit policies of banks on deposits and deposits of individuals is shown, as well as the forecasting of the volume of deposits of individuals for 2018 is shown.
Authors and Affiliations
Nataliia Mykolaivna Vnukova, Yelyzaveta Mykolaivna Kholkina, Kateryna Valentynivna Bochkova
Keywords
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