BUSINESS INFORM JOURNAL.

УКР

ENG

Search:

REGISTRATION CERTIFICATE

KV #19905-9705 PR dated 02.04.2013.

FOUNDERS

RESEARCH CENTRE FOR INDUSTRIAL DEVELOPMENT PROBLEMS of NAS (KHARKIV, UKRAINE)

According to the decision No. 802 of the National Council of Television and Radio Broadcasting of Ukraine dated 14.03.2024, is registered as a subject in the field of print media.
ID R30-03156

PUBLISHER

Liburkina L. M.

SITE SECTIONS

Prospects for Capitalization of Insurance Companies in Ukraine in the Context of the Income Tax Reform
Boiko S. V., Shirinyan L. V.

Boiko, Svitlana V., and Shirinyan, Lada V. (2019) “Prospects for Capitalization of Insurance Companies in Ukraine in the Context of the Income Tax Reform.” Business Inform 9:272–280.
https://doi.org/10.32983/2222-4459-2019-9-272-280

Section: Finance, Money Circulation and Credit

Article is written in Ukrainian
Downloads/views: 2

Download article (pdf) -

UDC 368:336

Abstract:
The article is aimed at studying the prospects of capitalization of insurers in Ukraine, subject to the reform of income taxation and the introduction of a tax on withdrawn capital. The publication examines the capital structure of insurers and the macro-economic indicators of the Ukrainian insurance market, identifies the macro-economic tendencies regarding the capital and equity of insurers. The most dynamic in the content of the capital of insurers are liabilities. An empirical analysis of the financial result before taxation and the net profit of insurance companies, dividend payments and propensity for dividend payments in the medium term is carried out. The absolute difference in the capital of insurers, which can potentially be obtained as a result of income tax reform, has been defined. The procedure for calculating the absolute difference in the capital of Ukrainian insurers after the reform of income taxation is proposed in the form of difference in the financial result before taxation and dividends, other payments to be taxed. An iIncreased capitalization of the insurance market is possible through the capitalization of the net profit of insurers. In other words, insurance companies will be able to increase their net capital by the size of the pre-tax financial result, reduced by dividends and other withdrawal payments. With this approach, the size of dividend payments becomes an important factor of influence. Prospect for further research in this direction is definition of the tax component as one of the priorities in the context of capitalization of Ukrainian insurance companies and improving the competitiveness of the insurance market in Ukraine, taking into account the European integration.

Keywords: dividends, income tax, withdrawal capital tax, insurance companies, net profit, pre-tax financial result.

Fig.: 2. Tabl.: 5. Formulae: 13. Bibl.: 14.

Boiko Svitlana V. – Candidate of Sciences (Economics), Associate Professor, Associate Professor, Department of Finance, National University of Food Technologies (68 Volodymyrska Str., Kyiv, 01033, Ukraine)
Email: [email protected]
Shirinyan Lada V. – Doctor of Sciences (Economics), Associate Professor, Head of the Department, Department of Finance, Educational and Scientific Institute of Economics and Management of the National University of Food Technologies (68 Volodymyrska Str., Kyiv, 01601, Ukraine)
Email: [email protected]

List of references in article

“Proekt Zakonu pro vnesennia zmin do Podatkovoho kodeksu Ukrainy shchodo podatku na vyvedenyi kapital“ [Draft Law on Amendments to the Tax Code of Ukraine on Derivative Tax]. http://w1.c1.rada.gov.ua/pls/zweb2/webproc4_1?pf3511=64356
Vasylenko, A. V. “Podatkove stymuliuvannia rozvytku strakhuvannia“ [Tax incentives for insurance development]. Visnyk KNTEU, no. 4 (2012): 34-46.
Hamankova, O. O., and Hamankov, D. V. “Opodatkuvannia strakhovykiv podatkom na prybutok yak vazhil derzhavnoho rehuliatornoho vplyvu“ [Taxation of insurers with income tax as a lever of state regulatory influence]. Visnyk Kyivskoho natsionalnoho universytetu im. Tarasa Shevchenka. Seriia «Ekonomika», no. 126 (2011): 5-8.
Sydorenko, O. “Osoblyvosti opodatkuvannia strakhovykiv Ukrainy: problemni pytannia“ [Features of taxation of insurers of Ukraine: problematic issues]. Problemy i perspektyvy ekonomiky ta upravlinnia, no. 3 (2016): 214-222.
Sosis, A., and Masharo, Ye. “Varianty vozmozhny, lish by rynok ne postradal“ [Options are possible if only the market is not affected]. Finansovyye uslugi, no. 4 (2005): 38-42.
Shirinian, L. V. “Dyferentsiiovane opodatkuvannia strakhovykiv yak sposib finansovoho rehuliuvannia strakhovoho rynku“ [Differentiated taxation of insurers as a way of financial regulation of the insurance market]. Bukhhalterskyi oblik i audyt, no. 1 (2013): 30-36.
Shirinian, L. V. Finansove rehuliuvannia strakhovoho rynku Ukrainy: problemy teorii ta praktyky [Financial regulation of the Ukrainian insurance market: problems of theory and practice]. Kyiv: Tsentr navchalnoi literatury, 2014.
Dolzhenkov, O. “Zaprovadzhennia podatku na vyvedenyi kapital v Ukraini“ [The introduction of a capital tax in Ukraine]. Evropsky politicky a pravni diskurz, vol. 5, no. 4 (2018): 238-242.
Lunina, I. O., and Bilousova, O. S. “Reformuvannia podatku na prybutok pidpryiemstv u konteksti zabezpechennia stiikosti derzhavnykh finansiv“ [Reforming the corporate income tax in the context of ensuring the sustainability of public finances]. Ekonomika Ukrainy, no. 7 (2018): 46-58.
Poltorak, A. S., and Holovko, M. I. “Mekhanizm reformuvannia systemy opodatkuvannia prybutku yurydychnykh osib v Ukraini v umovakh fiskalnoi detsentralizatsii“ [The mechanism of reforming the corporate tax system in Ukraine in the context of fiscal decentralization]. Aktualni problemy ekonomiky, no. 10 (2017): 4-14.
Savchenko, A. M., and Hudym, I. A. “Porivnialnyi analiz podatku na prybutok ta podatku na vyvedenyi kapital: suchasni realii ta perspektyvy“ [Comparative analysis of income tax and capital deduction: current realities and prospects]. Investytsii: praktyka ta dosvid, no. 11 (2018): 66-69.
Nosovskyi, A. A. “Analiz podatku na vyvedenyi kapital z ekonomichnoi tochky zoru ta yoho vplyv na sferu posluh“ [Analysis of the deductible capital tax from an economic point of view and its impact on the service sector]. Formuvannia rynkovykh vidnosyn v Ukraini, no. 2 (2019): 33-38.
“Osnovni pokaznyky diialnosti nebankivskykh finansovykh ustanov, na osnovi podanoi nymy zvitnosti“ [Key performance indicators for non-bank financial institutions based on their reporting]. https://www.nfp.gov.ua/ua/Osnovni-pokaznyky-diialnosti-nebankivskoi-finansovoi-ustanovy-na-osnovi-podanoi-neiu-zvitnosti.html
[Legal Act of Ukraine] (2010). https://zakon.rada.gov.ua/laws/show/2755-17

FOR AUTHORS

License Contract

Conditions of Publication

Article Requirements

Regulations on Peer-Reviewing

Publication Contract

Current Issue

Frequently asked questions

INFORMATION

The Plan of Scientific Conferences

OUR PARTNERS

Journal «The Problems of Economy»

The site and its metadata are licensed under CC BY-SA.

Write to webmaster