Shynkarenko I. The formation of the common tax policy of the EU countries.

In the work the author conducts the analysis of the theoretical and methodological basics of formation of the common tax policy of states in the course of economic integration. The new paradigm of the development of national tax systems in the conditions of globalization is studied. In particular, general peculiarities of evolution of tax systems in the process of globalization are described, including such trends as convergence of tax rates, raising importance of the value-added tax. The author also outlines the trends that may hinder efficiency of tax systems, such as growing transnationalization of entrepreneurship and tax heavens. The main factors of approximation of tax systems during economic integration are described in the work. The principal role of the tax competition theory in this process is admitted. The author also analyzes the substance of the tax harmonization concept and suggests own definition for this economic notion. The stages of tax harmonization are outlined and relation between the stages of harmonization and economic integration is analyzed. Mechanisms of formation of the common tax policy of the EU states are studied from the perspective of the stages of tax harmonization. Consequences of the EU customs union in the context of creation of the common tax policy are determined. The author accomplishes the analysis of the background as well as the current status of the harmonization of indirect taxes and duties in the EU and conducts the review of the possible ways of further development of harmonization processes. The coordination of the mechanisms of direct taxation of companies and individuals has been investigated in the work. The author also considers the EU tax policy responses to the 2008-2009 Financial Crisis as well as current European Sovereign Debt Crisis. The peculiarities of the development of the Ukrainian tax system in the process of the European integration have been outlined. It has been determined that the common tax mechanisms existing in the EU have material impact on the formation of the tax system of Ukraine. In the work the author makes assessment of the influence of the free trade area with the EU on Ukraine's attractiveness as the location of manufacturing facilities taking into account tax considerations. Based on the conducted analysis the author makes conclusion that existing Ukrainian tax system requires further improvement and provides suggestions aimed at enhancing its competitiveness.