Tax burden of food industry companies of Ukraine

Abstract

The tax burden determines the payment of taxes by the market subject to various budgets and serves as the basis for verification by the State Tax Service. The corporate income tax rate, which is equal to 18% in Ukraine, is called normative. The effective tax rate can be determined from the standpoint of macroeconomic analysis of the tax burden for the industry and from the standpoint of microeconomic analysis of the tax burden for individual enterprises. It is relevant to study the effective tax burden of food industry enterprises, which form significant shares of GDP and tax payments in the consolidated budget of the country. The purpose of the study is a microeconomic analysis of the influence of factors on the effective tax rate of food industry companies of Ukraine and the verification of the hypothesis about the degree of deviation of the effective rate from the normative tax rate of food enterprises. Methodology. The methods of generalization, descriptive statistics and systematization, factor and correlation-regression analyses are used in the investigation. Economic and statistical analysis was carried out using Microsoft Office software packages. The results. An algorithm for calculating the effective corporate tax rate is proposed. The list of financial operations at food enterprises of Ukraine, which produce a change in the financial result before taxation, is determined. It was revealed that in recent years the effective tax burden approaches to the normative tax rate, 18%. A methodology of microeconomic calculations was developed for assessing the tax burden of a company based on indicator-factors, including: company assets, income from product sales, number of employees, share of liabilities in assets, share of tangible assets in assets, share of current assets in assets, profitability of assets and equity capital, labor intensity, growth rate of real GDP. Correlations between the effective tax rate and the factors are determined. The largest number of influencing factors and the number of correlations are obtained for four enterprises of the sample: private joint stock companies "Mondelis Ukraine", "Lagoda Confectionery Factory", "Rivne confectionery factory", "Kharkiv biscuit factory". Key words: tax burden, tax return, normative tax rate, effective tax rate, food industry enterprises, factoranalysis, correlation analysis.