PERSONAL INCOME TAX: FISCAL AND SOCIAL ASPECTS

Abstract

The article is devoted to the modern realities of paying personal income tax in Ukraine and the possibilities of its improvement. An analysis of the fiscal role of personal income tax in Ukraine was carried out. The role of the tax in the revenues of the local, State and consolidated budgets of Ukraine has been studied. Influencing factors to the personal income tax were analyzed, in particular: minimum salary, control measures, financial support of military personnel, availability of tax social benefits. The role of personal income tax on the financial support of military personnel in the formation of local budget revenues has been studied. The monitoring of the proposed changes to the legislation on the distribution of income tax on the income of individuals for the support of military personnel between the revenues of the State and local budgets of Ukraine was carried out, namely, it is assumed that the tax will go to the special fund of the State Budget of Ukraine. An assessment of the social aspect of personal income tax was carried out. The effective rate of tax on the total amount of income and on income in the form of salary was studied. A comparison of such indicators as the minimum salary, the subsistence minimum and the marginal income, which gives the right to receive a tax social benefit, was carried out. The procedure for providing tax social benefits has been analyzed. The situation related to the use of tax social benefits by the population has been studied. Ways to increase the social role of personal income tax in Ukraine are proposed. The recommendations have been made to increase the amount of the marginal income, which gives the right to apply the tax social benefit. The need to make changes to the procedure for applying tax social benefits, namely increasing the amount of tax social benefits, in order to ensure social guarantees of the population in today's conditions is substantiated. Recommendations on taxation of family income are provided. Ways to increase the fiscal role of personal income tax are proposed, in particular, emphasis is placed on the need to conduct control and inspection measures, both in the form of tax audits and reconciliations, and in the form of preventive measures.