TAX REGULATION AS A MECHANISM OF MACROECONOMIC STABILIZATION

Abstract

The low efficiency of tax regulation in Ukraine is due to institutional distortions in all spheres of public life. The issues of choosing the priority goals of tax transformations and substantiation of the tools of reforming the tax regulation of macroeconomic processes require in-depth research. Structural crises of the economy actualize new tasks on the choice of effective forms of fiscal mechanism of macroeconomic stabilization. Systemic and institutional methods were used to study the peculiarities of Ukrainian tax regulation. To assess individual parameters of macroeconomic development, the method of relative values was used, and the method of trend analysis was used to study the dynamics of statistical data. Ukraine is experiencing a state of macroeconomic instability, caused primarily by significant tax pressures, growing balance of payments deficits, unfavorable environment for business development, low level of economic competitiveness. The identified gaps should be compensated by development of mechanisms to stimulate the economy, using the experience of other countries to ensure the transparency of tax legislation and its harmonization with European tax practices. It is necessary to achieve the full functioning of commodity markets, the elimination of monopolistic misuses, equality of rights of buyers and suppliers, ensuring the elasticity of market supply. It is important to provide state support for Ukrainian exports in order to reach a permanent trade surplus of Ukraine and the accumu-lation of currency reserves. Macroeconomic stabilization requires the formation of a balanced monetary system, the elimination of administrative pressure on bank liquidity, the elimination of gaps and the achievement of equilibrium between financial markets. Further research should focus on developing fiscal instruments to combat the movement of capital to offshore areas, stimulating job creation, increasing investment attractiveness, increasing consumption and strengthening Ukraine's financial system.