Nazukova N. Tax burden on the investments in fixed assets

The thesis summarizes theoretical principles of the taxation of investments in fixed assets and reveals the economic essence of tax burden on the investments in fixed assets. A critical analysis of main methodological approaches to the assessment of tax burden on investments in fixed assets is included in the thesis. It is justified that the determinants of tax burden on investments in fixed assets are most fully incorporated in the effective tax rates, which allow assessing the relationship between the parameters that determine the rate of return on investments before and after paying the legally established taxes. The thesis reveals upon the impact of Ukrainian tax system on the volume of investments in fixed assets, and the current practice of applying tax incentives in the context of the problems of fixed assets' reproduction. The author provides an assessment of the tax burden on investments in fixed assets in Ukraine in terms of financial sources (retained earnings, new capital and bank credit). The methodical approach to the assessment of tax burden on investments in fixed assets of effective tax rates has been improved by integrating the country equity risk premium. The improved approach served as the basis for a comparative analysis of the tax burden on investments in fixed assets in Ukraine and the European Union countries.