Shevchuk K. Incomes taxation of operations in financial services market

The dissertation deals with the essence of tax policy and its place in the financial state policy. The goals of tax policy in general and in the financial services market in particular are analyzed. The role of tax policy in the formation of macroeconomic trends in the activities of various economic agents is revealed. The substantive characteristics of financial services market, range of its participants, their tasks and priorities are outlined. The peculiarities of financial intermediaries’ activity and consumers as key subjects of financial services market are revealed. Emphasis is made on fiscal and regulatory effects of income taxation in Ukrainian financial services market. It is established that unstable dynamics of most segments of domestic financial services market is determined, among other things, by peculiarities of taxation. First of all, it concerns the formation of income as an object of taxation and significant opportunities for manipulating of their size. It is determined that actual model of income taxation in the financial services market accumulates significant risks that lead to budget losses due to reduced income tax revenues. It is argued that individuals income taxation of financial services consumers at a single rate is contrary to the fairness principle and does not take into account the different economic nature of financial services. It is proved that taxation improvement should be based not on implementation of new taxes, but also on taking into account socio-economic significance of activities in the financial services market and use of a progressive approach. Development of tax instruments for financial services market should be combined with other measures aimed primarily at strengthening of demand for financial instruments and services. Among other things, income taxation in the financial services market should become one of the important elements of «de-shadowing» of capital and their amnesty.