Implementation of the Results of Fiscal Decentralization of Ukraine and the Countries of the European Union
The article presents the results of fiscal decentralization of Ukraine and the countries of the European Union as a process of restructuring and balancing the specific interests of all entities of redistributive relations, optimizing and improving the structure of the revenue segment of local budgets, and ensuring stable tax revenues through the improvement of the current taxation system. An analysis of the level of fiscal decentralization of the EU countries was carried out on the basis of indicators of fiscal autonomy and fiscal significance of local self-government. In order to increase the role of fiscal consolidation and filling local budgets in Ukraine, the timeliness of budget-tax reforms and their impact on the socio-economic development of the state have been substantiated.
The empirical analysis was based on the fiscal rules of the decentralization of European countries that form the system-forming elements of the model of the tax on profits, providing a favorable fiscal space for business, motivating the effective use of budget funds by territorial communities. The target function of the optimization model, which determines the maximization of the fiscal decentralization index of local budgets, is proposed. Fiscal consolidation scenarios and their potential changes in Ukraine's GDP have been developed, subject to the introduction of the tax on withdrawn capital, as an alternative form of the tax on profits.
 Allain-Dupré, D. 2017. Decentralisation trends in OECD countries: a comparative perspective for Ukraine. OECD.
 Amelin, A. 2017. Evaluation of the economic effect of the tax on the withdrawn capital Ukrainian. Institute for the Future. Available at: http://blog-pfm.imf.org/files/ft-code.pdf.
 Aristovnik, A. 2012. Fiscal Decentralization in Eastern Europe: Trends and Selected Issues. Transylvanian Review of Administrative Sciences 37: 5–22.
 Association Agreement Ukraine with the European Union and the European Community of Atomic Energy and their member states. 2014. Available at: http://zakon3.rada.gov.ua/laws/card/984_011.
 Brennan, G., and Buchanan, J. 1980. The Power to Tax: Analytical Foundations of a Fiscal Constitution. Cambridge University Press.
 Brooks, Ch., Godfrey, Ch., Hillenbrand, C., and Money, K. 2016. Do investors care about corporate taxes? Journal of Corporate Finance 38: 218–248.
 Canavire-Bacarreza, G., and Martinez-Vazquez, J. 2015. Reexamining the Determinants of Fiscal Decentralization: What Is the Role of Geography? Available at: https://icepp.gsu.edu/files/2015/03/ ispwp1211.pdf.
 Cherkashyn, V. 2016. Profitable business. Does Ukraine need a tax on withdrawn capital? Reanimation package of reforms. Available at: https://goo.gl/WUMoyB.
 Crowley, G.R., and Sobel, R.S. 2011. Does Fiscal Decentralization Constrain Leviathan? New Evidence from Local Property Tax Competition. Public Choice 149(5): 5–30.
 Cyganyuk, Yu. 2016. The tax on withdrawn capital or the tax on profits: What are arguing about ‘at the top’. Accountant & Law, 44. Available at: https://goo.gl/Z4hC3b.
 Doing Business. International Bank for Reconstruction and Development. 2017. The World Bank. Available at: https://www.worldbank.org.
 Dulik, T.O., and Aleksandryuk, T.Yu. 2016. Vectors of development of modern fiscal policy of Ukraine. International Scientific Journal 2: 107–115.
 Gupta, S. et al. 2017. What Sustains Fiscal Consolidation in Emerging Market Countries? IMF Working Paper 3: 224–232.
 Holovach, V.V. 2015. Conceptual auditing principles: world experience and national practice. Economics. Finances. Law 2: 3-20.
 Horvathova, L., Horvath, J., Gazda, V., and Kubak, M. 2012. Fiscal Decentralization and Public Debt in the European Union. Lex Localis. Journal of Local Self-Government 10(3): 265–276.
 Influence of financial decentralization on socio-economic development of regions. Analytical note. 2016. National Institute for Strategic Studies. Available at: http://www.niss.gov.ua/articles/2458/.
 International Monetary Fund. Available at: https://www.imf.org/.
 International Tax Competitiveness Index, 2016. Available at: https://taxfoundation.org.
 Ivanov, V.V. et al. 2019. Increasing the financial depth of the Russian economy: Does it stimulate investment activity? Proceedings of the 33rd International Business Information Management Association Conference, IBIMA 2019: Education Excellence and Innovation Management through Vision 2020, April 10-11, in Granada, Spain.
 Krysovatyj, A.I. 2005. Theoretical-organizational dominants and practice of implementation of tax policy in Ukraine. Kart-blansh.
 Levchenko, V.P. and Baranovskyy, O.I. 2017. Transformation in public administration in the context of the integration of the nonbank financial services market in Ukraine in the world financial prospect. Economics. Finances. Law 12(3): 4-9.
 Lunina, I.O. 2015. International trends in the reform of tax systems in the post-crisis period of 2008-2014 and lessons for Ukraine. Finance of Ukraine 8: 7–20.
 Mitra, Sh. 2017. To tax or not to tax? When does it matter for informality? Economic Modelling 64: 117-12.
 Musgrave, R. 1959. The Theory of Public Finance. McGraw.
 Oates, W.E. 1972. Fiscal Federalism. Harcourt.
 Oates, W.E. 2005. Toward A Second-Generation Theory of Fiscal Federalism. International Tax and Public Finance 12(4): 349–373.
 Ozerskyi, I.V. 2019. The psychological component of the mediation procedure in civil proceedings. Economics. Finances. Law 2: 17-22.
 Polyakova, Ye.S. 2016. Justification of assessments creditworthiness of borrowers – individuals based model scoring. Economics. Finances. Law 1(1): 39-41.
 Rodriguez-Rose, A., and Ezcurra, R. 2011. Is Fiscal Decentralization Harmful for Economic Growth? Evidence from the OECD countries. Journal of Economic Geography 11(4): 619–643.
 Rudenko, M.N. 2019. Economic security of the region (Perm krai). Astra Salvensis 7: 385-410.
 Rudenko, M.N. et al. 2016. Innovative activity of financial and industrial groups. International Journal of Economics and Financial Issues 6(S8): 108-114.
 Salimyanova, I.G. et al. 2019. Economy digitalization: Information impact on market entities. Journal of Environmental Treatment Techniques 7(4): 654-658.
 Samuelson, P.A. 1954. The Pure Theory of Public Expenditure. Review of Economics and Statistics 36(4): 387-389.
 Samuelson, P.A. 1955. Diagrammatic Exposition of theory of Public Expenditure. Review of Economics and Statistics 37(4): 350-356.
 Sharov, O. 2015. The process of creating a fiscal union of the EU countries. International Economic Policy 1: 74-99.
 Shtal, T.V. et al. 2018. Modeling of convergence of the economic system of Ukraine with g20 countries based on the analysis of structural changes in Ukrainian foreign trade. Journal of Advanced Research in Law and Economics 9(6): 2129-2145.
 Stegarescu, D. 2004. Economic Integration and Fiscal Decentralization: Evidence from OECD Countries. Available Available at: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=686714.
 Strategic priorities and objectives of the tax reform in Ukraine, 2018. Available at: http://www.niss.gov.ua/ content/ articles/files/podatkova_ref-21822.pdf.
 Suchyk, T., and Kravchuk, A. 2016. Exit Capital Tax – the Alternative to Existing Corporatite Profit Tax. The Ukrainian Journal of Business Law 11: 24-25.
 Taptunova, І. 2016. Transformation of the tax on profits into the tax on the withdrawn capital. European Information and Research Center.
 Tax on withdrawn capital: a threat to the state or revolutionary innovation. 2018. Available at: https://goo.gl/2cF3uV.
 Tax reforms in EU Member States. Tax policy challenges for economic growth and fiscal sustainability: Report European Commission, 5, 2013. Availavle at: http://ec.europa.eu/economy_finance/publications/european_ economy/2013/pdf /ee5_en.pdf.
 Taxations and Customs. European Commissions. Available at: https://ec.europa.eu/taxation_customs.
 Tiebout, Ch. 1956. A pure theory of local expenditures. The Journal of Political Economy 64(5): 461–424.
 Tumanyan, A.O. 2018a. Commentary on the draft law on amendments to the Tax Code of Ukraine and some other legislative acts of Ukraine No 9260 dated November 5, 2018. Economics. Finances. Law 11(2): 36-39.
 Tumanyan, A.O. 2018b. Commentary on the draft law on amendments to the Tax Code of Ukraine and some other legislative acts of Ukraine No 9260 dated November 5, 2018. Economics. Finances. Law 11(3): 36-39.
 Ukrainian Institute for the Future: official resource. Available at: https://uifuture.org.
 Zabkowicz, A. 2017. Economics and groups: methodological individualism and collective action. Oeconomia Copernicana 8(1): 7–20.
 Zach, D. et al. 2017. The corporate income tax or the exit capital tax: analysis and recommendations. German Advisory Group and Institute for Economic Research and Policy Consulting.
The Copyright Transfer Form to ASERS Publishing (The Publisher)
This form refers to the manuscript, which an author(s) was accepted for publication and was signed by all the authors.
The undersigned Author(s) of the above-mentioned Paper here transfer any and all copyright-rights in and to The Paper to The Publisher. The Author(s) warrants that The Paper is based on their original work and that the undersigned has the power and authority to make and execute this assignment. It is the author's responsibility to obtain written permission to quote material that has been previously published in any form. The Publisher recognizes the retained rights noted below and grants to the above authors and employers for whom the work performed royalty-free permission to reuse their materials below. Authors may reuse all or portions of the above Paper in other works, excepting the publication of the paper in the same form. Authors may reproduce or authorize others to reproduce the above Paper for the Author's personal use or for internal company use, provided that the source and The Publisher copyright notice are mentioned, that the copies are not used in any way that implies The Publisher endorsement of a product or service of an employer, and that the copies are not offered for sale as such. Authors are permitted to grant third party requests for reprinting, republishing or other types of reuse. The Authors may make limited distribution of all or portions of the above Paper prior to publication if they inform The Publisher of the nature and extent of such limited distribution prior there to. Authors retain all proprietary rights in any process, procedure, or article of manufacture described in The Paper. This agreement becomes null and void if and only if the above paper is not accepted and published by The Publisher, or is with drawn by the author(s) before acceptance by the Publisher.