Introduction. The accounting and tax legislation of Ukraine is in the process of its approximation to the requirements of the European Union. This is especially true for taxes accompanying the movement of goods and services in the context of cooperation between countries, with value added tax (VAT) being the main of these taxes is. Purpose. The purpose of the paper is to identify both common and distinctive features of the Ukrainian tax legislation on VAT with regard to the European requirements according to the current Association Agreement, assess the effectiveness of VAT rates and identify general trends in the dynamics of structural fractions of VAT in GDP and VAT rates. Methods. We applied the methods of scientific analysis and comparison, induction, and a systematic approach. Also, we used the expert judgment method to determine the likelihood of positive and negative consequences of lowering the VAT rate. Results. The study investigates the formation of legislation on administration of VAT in both the EU and Ukraine. The research determines the law basic eligibility criteria within the definition of: taxpayers, objects of taxation, tax base, tax accounting rules, tax primary documents and reports, and methods of administration. The article compares the basic details of the primary documents as well as their common and distinctive features. In particular, we compared primary and summary documents registration operations for displaying the electronic VAT administration system as well as general and reduced VAT rates in Ukraine and the EU. The authors of the article propose the main steps towards the convergence of electronic forms of primary documents. We conducted an analysis of the efficiency of VAT rates in both the EU and Ukraine and identified the factors that impact the change in the relevant indicators. The conducted research offers an overview of modern European trends in terms of improving VAT administration. Discussion. There is no absolutely effective VAT administration scheme. Therefore, the issue remains open and controversial. The study of the effectiveness of VAT rates in the EU and Ukraine has shown that, there was a decline in the efficiency in half of the EU countries during the 2014-2017 period. It has been estimated that a reduction of the joint European rate of VAT up to 15%, under certain specified conditions, would increase the efficiency of VAT rates in all EU countries and lead to other positive effects.
Податок на виведений капітал: обліково-звітний аспект Останнім часом урядовці багато говорять про таку законодавчу ініціативу, як податок на виведений капітал, який повинен замінити податок на прибуток. Податок на прибуток відрізняється від податку на виведений капітал (розподілений прибуток) базою оподаткування, тобто тим, що саме оподатковується. Хоча в 2019 році цей податок в Україні ще не ввели, ймовірність його введення в найближчі роки залишається досить високою. Відтак доцільно завчасно обґрунтувати порядок його обліку, щоб у випадку коли цей податок стане частиною діючої практики оподаткування, у бухгалтерів була методична база для його відображення на рахунках та у формах фінансової звітності. Метою статті є аналіз досвіду функціонування податку на виведений капітал в Естонії, огляд законодавчих норм, що плануються до запровадження в Україні, та обґрунтування методики бухгалтерського обліку нарахування і сплати податку на виведений капітал, а також відображення його у формах фінансової звітності. Розкрито переваги та недоліки податку на виведений капітал. Досліджено структуру бази оподаткування податком на виведений капітал в Естонії та Україні. Проведено аналіз показників декларації з розподіленого прибутку, що подається платниками податку в Естонії. У статті подано приклад розрахунку податку на виведений капітал за естонською моделлю. Запропоновано порядок обліку елементів бази оподаткування податком на виведений капітал для українських підприємств. Обґрунтовано доцільність поділу усіх операцій на дві групи: операції з виведення капіталу; операції, що прирівняні до операцій з виведення капіталу. Запропонований у статті порядок обліку таких операцій дозволяє зібрати у податковому обліку потрібні суми для формування бази оподаткування, яка відображатиметься у декларації. Акцентовано увагу на проблемних аспектах визначення і розкриття податку на виведений капітал в обліку і звітності українських підприємств. Ключові слова: податок на виведений капітал, декларація з податку на виведений капітал, бухгалтерський облік податків, досвід оподаткування в Естонії, розподіл прибутку, дивіденди. Tax on Withdrawn Capital: Accounting and Reporting IssuesRecently, officials have been talking a lot about such a legislative initiative as tax on withdrawn capital, which should replace income tax. The income tax is different from the tax on the withdrawn capital (distributed profit) by the tax base. Although tax on withdrawn capital has not yet been introduced in Ukraine in 2019, the probability of its introduction in the coming years remains quite high. Therefore, it is advisable to justify the accounting of tax on withdrawn capital in advance, because if this tax becomes part of the current taxation practice, accountants have a methodical basis for its reflection on accounts and in financial reporting forms. The purpose of the article is to analyze the experience of introduction the tax on withdrawn capital in Estonia, a review of the legislative norms that are planned to be implemented in Ukraine, and the rationale for...
Abstract. Income taxation is typical for most countries with their own peculiarities. In the practice of the Ukrainian enterprises, there is a lack of relationship between accounting and tax accounting to reflect the deferred tax asset and deferred tax liability in the reporting. The purpose of the article is to analyze the income tax in terms of its calculation by the international standards and identify key tax differences. The authors proposed to formulate the definitions of the current income tax which should be understood as the amount of income taxes payable (reimbursed) on taxable profit (tax loss) for the period and expenses (income) from income tax which should be understood as the total amount included in the determination of profit or loss for the period in accordance with current and deferred taxes. This interpretation of the definitions will help better understand the concepts in accounting and taxation. The tax base of assets and the tax base of liabilities are given and substantiated. The temporary differences were identified by authors. The example of definition of Deferred tax liabilities and Deferred tax assets, the order of their reflection in the report on financial results (about the total income) and disclosure in the Notes to the financial reporting is considered and analyzed. The impact on the indicators of the Income Tax Return is investigated. There is no direct impact of the amount of the Deferred tax assets / Deferred tax liabilities according to the current algorithm for the object of taxation, which is determined by tax legislation. The conclusions are made about the importance of determining of Deferred tax liabilities and Deferred tax assets, which directly affects the amount of net profit. The result of the study was confirmation of the hypothesis concerning different orientation of norms of the legal documents on the display of information in the forms of the financial and tax reporting. Such differences are related to the different requirement to the reporting by the modern stakeholders. Keywords: income tax, deferred tax, tax asset, tax liability, reporting. JEL Classification M40, М41, М48 Formulas: 0; fig.: 2; tabl.: 5; bibl.: 16.
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