The purpose of the study is to summarize the main prerequisites for reforming bank profit taxation in Ukraine and assess the fiscal effects of reforming bank profit taxation

Анотація

The study was conducted based on data on banking performance in 2020-2024, published by the National Bank of Ukraine and data on the performance of commercial banks, as well as data from the State Statistics Service of Ukraine on GDP, data from the Ministry of Finance of Ukraine on the volume of public debt on domestic government loan bonds, data from the National Bank of Ukraine on the dynamics of the discount rate. When writing the article, general and special research methods were used, such as analysis methods (when studying the dynamics of financial results of commercial banks in Ukraine and calculating the real (effective) income tax rate), correlation and regression analysis (when determining the factors influencing the amount of accrued income tax), comparison (when comparing the dynamics of tax burden indicators in Ukraine and EU member states), etc. It is substantiated that the reform of bank profit taxation in Ukraine took place in the face of complex socio-economic, political and geopolitical challenges and martial law that faced Ukrainian society and required the search for additional revenues to budgets of various levels to finance the needs of defense, security and support of the economy, its post-war recovery. The main directions of the tax reform in terms of profit taxation were an increase in the base rate exclusively for banks from 18% to 50%, as well as changes in the application of differences, which had a fiscal effect of about UAH 70 billion against target indicators from the Ministry of Finance of Ukraine in the amount of UAH 24-25 billion, the maximum approximation of the base and real profit tax rates. It is proven that the reform of the taxation of commercial banks' profits took place in violation of certain principles of taxation (equality of all taxpayers before the law, prevention of any manifestations of tax discrimination, neutrality of taxation, stability, fiscal sufficiency). It is recommended to review the main approaches to taxation by introducing a tax on excess profits of banks from government bonds, that is, direct taxation of high-yielding government securities in the event of receiving such excess profits, which minimizes the negative impact on the dynamics of banking activity indicators and macroeconomic indicators, as well as the investment attractiveness of the Ukrainian banking sector for foreign banking groups. Keywords: commercial banks, taxation of profits, tax shifting, profit tax, tax burden on banks, government bonds, fiscal effects.

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