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Ukrainian tax system. The current situation. The taxes for employers are
too high, which makes Ukraine less attractive for investors ...
... got some lessons on how power operates in an authoritarian system. ... I did not speak
Russian or Ukrainian I had ... The state expects to collect tax revenue from the ...
... necessary to create a proper system of taxation ... tural producers have huge overdue
tax liabilities, so ... with communica-tions development in Ukrainian rural areas ...
... simple individual grain producing farms into a system of extensive ... he made it possible
to destroy Ukrainian nationalism. ... if they failed to pay the tax or meet ...
... as provided under the fair trade, tax or inheritance ... go wrong, even lead to the collapse
of total system. ... had invested $0.1 billion in Ukrainian motor factory ...
Submitted by bicicletta on May 13, 2008
Category: Business
Words: 984 | Pages: 4
Views: 56
Popularity Rank: 105,761
Average Member Grade: N/A (Add a Comment / Grade this Paper)
The current situation.
The taxes for employers are too high, which makes Ukraine less attractive for investors and business development, in spite of its economic potential.
According to the World Bank’s research, which bases upon 10 main criteria important for conducting business, Ukraine takes the 174 place from 175.
Taking into consideration the criterion of easiness of tax payments our country takes the 152 place from 155.
Our government takes away from business about 49% of surplus value. At an average about 62% of individual income of our citizens are assigning to central budget and pension fund. Total tax load on the economy today accounts for 49% of GDP.
After all tax system of Ukraine is very difficult in assigning taxes. There are 26 national and 14 types of local taxes. Average company must pay 9-12 types of taxes. In order to discharge tax duty in Ukraine you should spend 2185 hours a year, that is 91 days.
The difference in the tax load between fields of industries and different territorial units is varied from 12 to 150% of added value. The amount of tax privileges accounts for nearly 9,5% of GDP, and non-payment of taxes – 34% of GDP.
We should take into account the fact those countries that have succeed in making “the economic miracle” (for example, Hong Kong, Singapore, Taiwan, etc.) had low taxes and liberal markets.
On the other hand, countries with high level of taxes and developed bureaucracy (Moldova, Uzbekistan, Armenia, etc.) are running through economic catastrophe.
The ways of reformation.
I think the following aspects should be changed:
First of all, the reduction in profit tax (now - 25%) upon juridical persons should take place.
Hong Kong can be the best example. Hong Kong is a country with the highest level of economic freedom, here profit tax accounts for 15-16%. These changes in the tax system of our...
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