Value-added taxation in Ukraine in conditions of economic instability

Abstract

Recent years have been characterized by significant fluctuations in the economy due to the influence of external factors, such as the pandemic, which significantly affected the economy of Ukraine, and the full-scale invasion of Russia. Value added tax is an essential part of the state budget revenues, which was also subject to constant changes under the influence of these circumstances. During this period, both business practices and legislative initiatives underwent significant changes. The article analyzes revenues to the state budget over the past five years, identifies important components in the structure of filling the state budget, and defines the value added tax as the main revenue part of the state. The tax under study directly depends on external and internal factors that affect the economy and the state in general, and a large number of changes occur due to the pressure of such factors on the functioning of the state and citizens who conduct their activities both in the middle of the country and with foreign counterparties. The latest changes regarding the procedure for registration of VAT payers, changes in VAT rates, both in the general and simplified taxation systems, in relation to VAT benefits, VAT in export and import transactions, the application of fines for violation of VAT legislation, as well as the preparation of tax returns were considered. invoices and tax declaration with VAT. It is taken into account that each country independently regulates the legislation on the tax burden, taking into account the peculiarities of its economic situation, therefore the experience of other countries is taken into account. It was emphasized that the reform of the taxation system should ensure not only an increase in revenues to the state budget, but also should be acceptable to citizens as direct tax payers.

Keywords

• value-added tax
• tax benefits
• state budget revenues
• value-added tax rates