Generolo Jono Žemaičio Lietuvos karo akademija

International fiscal regulation of transfer pricing solves important taxation problems of company groups to ensure fair distribution of the taxation base between different jurisdictions and in one country. The alternative to the arm’s length principle for similar problems is a concept of formulary apportionment approach. The need to solve such problems is pressing for the Russian consolidated tax groups too, primarily in the technology and capital-intensive industries. Russian Federation’s seven-year experience of creating the consolidated tax groups based on the formulary apportionment approach can be of interest to the specialists in any country researching such issues, because the government has acknowledged the current Russian system ineffective. Economic approach to formation of a sectorial cashgenerating unit grouped according to economically integrated businesses and an investor control concept over an investment facility is the basis of our research. Practical calculations were done for the current consolidated tax group, confirming the advantages of this approach for fair distribution of the taxation base for the technology and capital-intensive industries. We have drawn executives’ attention to the solutions enhancing investment attractiveness of the tax groups in conditions of restricted access to information for external users in the IFRS reports of a group.

The theoretical and methodological principles of researching the tax security of a state were substantiated with the emphasis placed on the two basic economic theories: the social choice theory and the reflectivity theory. The differential features of national tax systems under globalization conditions and their impact on the economic security of the countries that differ in the political regime, the level of economic development, geography and location were identified. There was given the assessment of the cross-sector approach, based on which multifactor effective marginal tax rates in the European Union (EU) are calculated, and of the marginal approach to taxation in general. The analytical study of tax security of the countries of Organization of economic cooperation and development (OECD) was carried out based on the assessment of the specific weight of taxes in gross domestic product, as well as the structure of taxes in the context of taxation objects: income individuals, income corporates, social security contributions, property, value added taxes, other consumption taxes. A particular attention is attached to the problems of taxation of the motion of capital and goods between the EU countries within the framework of ensuring the mutual economic benefits of the collective interests. The assessment of external and internal threats to tax security of Ukraine was performed based on the identification of the shadow economy segment, reasons for its emergence and consequences for the national economy, as well as the dynamics of the absolute and relative indicators of the budget-debt security. The recommendations on strengthening the tax security of Ukraine under the European integration conditions were given.

The article analyses and summarizes the various author’s approach to value-added tax (hereinafter - VAT), its role in the tax system and the impact of VAT revenue on the state budget. The article considers the features of VAT, its positive and negative characteristics, discusses the aspects of implementation of tax function, and identifies the revenue collection determinants examined in literature. The impact of VAT revenues on the European Union (hereinafter - EU) Member States (hereinafter - MS) budgets, and the dynamics of the standard VAT rate and income from VAT collection efficiency is analysed. Having selected four EU Member States (Bulgaria, Italy, Ireland and Lithuania), the method of pair correlation is used to evaluate the economic and VAT describing factors affecting the revenue from VAT collection in these countries. The most correlating factors in each of the selected countries were used to create multiple regression models. After discussing the situation of VAT in the EU, the article analyses the dynamics of the revenue from VAT part in the state budget income. It examines the changes of revenue from VAT, the causes that determined a (non) enforcement of the plan of the revenue from VAT, the efficiency of the collection of revenue from VAT and its reasons analysing the case of Lithuania. In order to identify the factors that determined the revenue from the collection of VAT in Lithuania in the period 2005-2015, three multiple regression models were se up, analysed and summarized.

Often taxation is considered as a restriction to any market development, lessening the willingness to effective actions or raising the opportunity costs. Therefore lots of investigations are dedicated to identification of optimal measures in order to satisfy the fiscal needs still encouraging market performance. The purpose of this paper is to identify the impact of capital income taxation on corporate bond market development by using the Laffer curve and tax burden measurements and methods. While theoretical investigations proposed an application of tax exempt to corporate bond transactions, empirical results stated no significant arguments for corporate bond market stagnation to taxation.