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Taxation on VAT Operations on Return of Fixed Assets Initially Contributed to the Statutory Capital of Enterprise
Vinichenko O. M., Mahdich A. S.

Vinichenko, Olena M., and Mahdich, Alisa S. (2019) “Taxation on VAT Operations on Return of Fixed Assets Initially Contributed to the Statutory Capital of Enterprise.” Business Inform 11:309–315.
https://doi.org/10.32983/2222-4459-2019-11-309-315

Section: Finance, Money Circulation and Credit

Article is written in Russian
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UDC 336.2:330.1

Abstract:
Improvements in public policy in the sphere of taxation, development and adoption of the tax code, reform of fiscal bodies, unfortunately, have not eliminated such problems as dual understanding of some tax rules and incorrect definition of the object, and as a result - the very basis of taxation. In the practical activities of enterprises there are known problems when accruing and recovering VAT, registration of tax invoices, definition of the object and the base of taxation. In particular, there are also situations, when the task is to determine whether to charge VAT in a given case or not, and what would be the object of taxation at all. The article is aimed at to studying certain aspects of VAT taxation, which are incorrect in the economic sense and lead to unreasonable expenses on the part of enterprises. The presented problem is considered on the example of VAT taxation on the operations on the return of fixed assets from the statutory capital of the legal entity to the former owner of these objects, provided he leaves the founders of the given legal entity. The inconsistency of the classical economic meaning of terminology used in the Tax Code of Ukraine, i.e. «added value», has been researched. It is determined that there is no formation of a value-added when returning fixed assets from the statutory capital. The tasks that VAT solves on the condition of return of fixed assets from the statutory capital are considered. A sequence of actions, which avoids unreasonable expenses of enterprise in carrying out operations on the return of fixed assets from the statutory capital in the existing conditions of taxation, has been defined. Conclusions have been drawn that the terminology used in the Tax Code of Ukraine should correspond to classical economic definitions; VAT should be imposed only on those operations in which value added is formed; VAT should be more than just a fiscal function. The proposed novations allow to eliminate the discrepancies of the rules of the Tax Code of Ukraine with the classical economy and reduce the damage to the enterprise from improper taxation.

Keywords: value-added tax, value added, statutory capital, fixed assets, taxation.

Tabl.: 2. Bibl.: 14.

Vinichenko Olena M. – Doctor of Sciences (Economics), Associate Professor, Professor, Department of Entrepreneurship, Organization of Production and Theoretical and Applied Economics, Ukrainian State University of Chemical Technology (8 Haharіna Ave., Dnіpro, 49005, Ukraine)
Email: [email protected]
Mahdich Alisa S. – Candidate of Sciences (Economics), Associate Professor, Professor, Department of International Economic Relations and Economic Theory, Alfred Nobel University (18 Sicheslavska Naberezhna Str., Dnіpro, 49000, Ukraine)
Email: [email protected]

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