CURRENT TRENDS AND MONETARY POLICY INSTRUMENTS IN UKRAINE

Анотація

The article is dedicated to the disclosure of social aspects of land taxation in Ukraine. It is justified that in modern conditions the land tax has a significant potential as a regulator of public welfare, but this potential is not fully used. From the point of view of taxation technique, the land tax, more than other components of the property tax, complies with the principle of fairness, as the tax base is the value of land. But, in many communities regulatory and monetary land valuation is outdated and needs updating in modern conditions. However, the author designates that the elements of the tax that, in fact, offset the regulatory potential of land tax are its rates and the list of exemptions. The categorical approach to the providing of exemptions and unreasonably low tax rates make the land tax fiscally insignificant and practically imperceptible for individuals -landowners. Many landowners in Ukraine haven't got documents proving ownership of their land shares. They don't pay land tax, which violates the taxation fairness principle. It is found that local governments often set low land tax rates because they protect the interests of government officials and try to avoid public discontent. The contingent calculation of the level of tax liability for land tax using the most difficult circumstances of its application (which in practice do not occur) has proved that it is very low. This has led to the conclusion that land taxation norms in Ukraine protect the interests of landowners and do not contribute to the redistribution of wealth from rich to poor. It is proved that the lack of a free land market leads to a lack of income by landowners. Determining the value of land shares (units) for the calculation of rent is carried out by the using of the normative-monetary assessment, which is much lower than the actual value of land. As a result, the unearned income of landowners is, in terms of regions of the country, from a few percent to several times. Lack of associations that would protect their interests also leads to the loss of rental income by landowners. Because of this, in the market of privately owned land, the "buyer's market" is often formed, that causes a loss of income of landowners.

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