PARTICULAR COMPONENTS OF THE FISCAL POLICY AND FEATURES OF ITS TRANSFORMATION IN UKRAINE

Abstract

Introduction. The difficult socio-economic situation in Ukraine and external factors (the COVID-19 pandemic and the russian military invasion) have exposed the need to transform the state’s fiscal policy and its corresponding scientific justification. Purpose. The purpose of the article is to assess the features and justification of the directions to improve the fiscal policy in Ukraine in the context of the European integration, aimed at stimulating economic processes, overcoming adversity, and innovative development. Methods. The authors used methods of comparative analysis and synthesis, as well as tools of the abstract-logical method to determine the key ways to implement the fiscal policy in Ukraine. Results. In the article, the fiscal policy in Ukraine in the context of the growing military operations on the part of russia, temporary loss of part of the territories and human working potential, and weaking of trade and economic processes is characterised. Attention is focused on the relevance of the role of the revenue planning and forecasting, since the quality of planned indicators depends on the number of resources that ensure the implementation of the national and regional tasks. Unrealised problems of the fiscal policy are revealed, namely: deficits of the state budget; smoothing out social inequality; unpredictability and instability of tax collection; excessive system of administration; respect for equal rights of tax authorities and taxpayers; uneven tax burden on entrepreneurs and sectors of the economy; high level of shadowing of the economic processes. Originality. Among other results of the study, there is a surge of indicative diversity in the analysis of efficiency, sustainability and identification of directions for further improvement of the state’s fiscal policy, which is observed just in such crisis periods as the COVID-19 pandemic or military confrontations with russian aggression. The need for further methodological and technical support for analytical work with the data from these periods is indicated at. Conclusion. When justifying and implementing changes in the fiscal policy, it is necessary to calculate their economic and social consequences, conduct explanatory work among the population, and achieve a harmonious combination with the main functioning postulates and legislative and regulatory acts of the countries of the European Union. Trends in improving tax systems of the EU member-states are to reduce the tax burden in labour and capital, while increasing pressure on consumption, real estate, and environmentally harmful activities. In this way, of course, based on budget expenditures for military needs and further fight against the COVID-19 coronavirus pandemic, as well as the innovative direction of the economy, our state should also move.