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Fiscal Tool for Overcoming Poverty in Ukraine

Author

Listed:
  • Tetyana Tomnyuk

    (Chernivtsi Trade and Economics Institute of Kyiv National Trade and Economics University, Chernivtsi, Ukraine)

Abstract

In accordance with the UN research approximately 80 % of Ukrainians live below the poverty line. The article is concerned with the ways to induce increase in well-being of Ukrainian population through the fiscal tool. The structure of earnings of the Consolidated budget of Ukraine contains the analysis of a portion of mandatory payments, which cause tax burden on the nationals' income. It clears up the mechanism of application of the tax social privilege as a tool to protect socially vulnerable sectors of population. It finds that social standards in Ukraine disregard macroeconomic tendencies developing for years. The emphasis is made on the necessity to differentiate value added tax rates and to harmonize the rates of other taxes not directly influencing personal income, which are dominant in Ukraine. It describes the approaches to implementation of reduced value added tax rates, tax social privilege in withholding taxes from personal income and review of the minimum subsistence level that shall facilitate increase in income of the disadvantaged population.

Suggested Citation

  • Tetyana Tomnyuk, 2016. "Fiscal Tool for Overcoming Poverty in Ukraine," Oblik i finansi, Institute of Accounting and Finance, issue 4, pages 114-118, December.
  • Handle: RePEc:iaf:journl:y:2016:i:4:p:114-118
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    File URL: http://www.afj.org.ua/pdf/435-podatkoviy-instrumentariy-podolannya-bidnosti-v-ukraini.pdf
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    File URL: http://www.afj.org.ua/en/article/435/
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    References listed on IDEAS

    as
    1. Viktor Synchak, 2012. "Development of Simplified Tax System in the Context of Small Business State Support and Stimulation of Employment," Oblik i finansi, Institute of Accounting and Finance, issue 4, pages 50-58, December.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    poverty; income; income tax; value added tax; living wage; basket of consumer goods;
    All these keywords.

    JEL classification:

    • E64 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Incomes Policy; Price Policy
    • D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement

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