The value added tax and its role in the formation of revenues of the state budget of UkraineOshchepkov O.; Shkepu V.
Key words: taxes; State budget of Ukraine; tax revenues; value added tax; tax rate; tax administration.
The article studies the essence of the category "value added tax", which is defined as an indirect tax included in the price of goods, works and services. The role of the above mentioned tax revenues in the formation of the State budget of Ukraine has been determined. We investigated the dynamics of VAT revenue in the budget of Ukraine. The advantages and disadvantages of indirect tax on the value added have been substantiated. It has been established that the financial system, covering relations on the accumulation and use of financial resources of the state, needs reforming of the most important components connected with forming of the budget and extra-budget funds. Taking into account that the main source of formation of a profitable part of budgets in Ukraine there are taxes, regulatory issues related to taxation are among the most relevant. Given that the main source of formation of a profitable part of budgets in Ukraine there are taxes, regulatory issues related to taxation are among the most pressing in conducting socio-economic transformations I at the present stage. That is why tax reforms take the most important place in the process of market relations improvement. Taking into account the above mentioned the process of restructuring of the tax system of Ukraine, the analysis of the peculiarities of legal regulation of taxes and fees are of great importance.
An effective taxation system is an integral part of the functioning of the economic complex of any modern state, because taxes are not only the main source of budget revenues, but also a powerful regulator of social proportions, the guarantor of social protection of citizens and the creation of the modern material basis of the sovereignty of the state and local governments.
The paper discusses a number of requirements in the tax system, which is expected to carry out not only function, but also promote business development through the differentiation of tax rates which must be economically justified.
The paper considers the issues of tax administrations on the value added peculiarities of its implementation in terms of electronic Declaration and registration of tax invoices and the possibility of blocking and unblocking mechanism of tax invoices taking into account the risk of improper obtaining of reimbursement from the state budget of VAT as well as increasing the responsibility of employees of fiscal service and taxpayers for the violations through a simple system of sanctions.
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