CORPORATE INCOME TAX AS A TOOL FOR REGULATING THE UKRAINIAN ECONOMY IN THE CONTEXT OF MACROECONOMIC CHANGES

Abstract

Corporate income tax is an important element of the tax system that performs not only a fiscal but also a regulatory function, influencing the financial results of enterprises, investment activity, and the overall dynamics of economic development. In the context of macroeconomic instability, structural changes in the economic environment, and the transformation of tax administration mechanisms, the study of the functioning of corporate income tax and the assessment of its role as an instrument of economic regulation become particularly relevant. The purpose of the article is to analyze the transformation of corporate income tax as an instrument for regulating the economy of Ukraine based on the study of the dynamics of its revenues, the assessment of its relationship with macroeconomic indicators, and the analysis of structural changes in the administration of this tax. It has been established that corporate income tax revenues are highly sensitive to changes in economic conditions: during periods of economic growth they increase, while in crisis periods they demonstrate more significant declines. The results of the regression analysis confirmed the existence of a strong correlation between GDP volumes and corporate income tax revenues, which indicates the dependence of tax revenues on the level of economic activity. The structural analysis of corporate income tax revenues by categories of taxpayers showed that the main share of tax payments is generated by enterprises of the real sector of the economy, while during the studied period the role of the financial sector, particularly banking institutions, has increased. The research also revealed changes in the mechanisms of corporate income tax administration, manifested in the introduction of new instruments of tax regulation, including advance payments for certain types of activities, special taxation regimes for residents of Diia City, and the expansion of the tax base through the taxation of gambling activities. Thus, the results of the study confirm that corporate income tax is an important instrument of state economic policy that combines fiscal and regulatory functions and transforms in accordance with changes in the economic environment.