INFLUENCE OF TAXES ON STIMULATION OF INVESTMENT ACTIVITY

The search for ways and methods of stimulation of investment activity of business entities of Ukraineis one of the burning issues, especially in agriculture.From this perspective, special attention should be paid to tax tools to stimulate investment activities, whichinclude tax preferences, tax rates, special tax regimes and temporary means of influence.After considering each of the mentioned ways of optimization, it was investigated that providing taxpreferences in order to stimulate investment activity has to be direct in nature, however, tax preferences in Ukrainedo not give the expected result since the efficiency of their functioning is rather low in spite of their significantnumber.Tax rates constitute an active and efficient element in the increase of investment activity. However, their misuseprovokes an increase of the level of the tax burden that slows the increase of the volumes of the technologicalproduction. A similar characteristic can be also applied to an investment credit, the use of which, in combinationwith tax rates, gives a good result, provided that the progressive scale of rates but not linear or low-progressive (as inUkraine) is used. Therefore, the analysis of the results of the activities of enterprises of Ukraine showed, firstly, alow level of growth in the volume of commissioning of capital assets, which in 2017 amounted to only 2.6% of thelevel of 2016, and an overall reduction of 8.3 percentage points compared to 2012, and, secondly, a reduction in thevolume and pace of investment activity.It should also be noted that the low level of general and investment activity of enterprises, in particular,agricultural ones, also provokes a decrease in the social standard of living. Consequently, the negative trends in theeconomic environment, which provoked a decrease in the social standards, resulted in a total reduction of the budgetrevenues and a high level of the budget deficit at all levels.That is why, a harmony of the tools of influence and social aims is necessary to activate the investment activityof business entities, especially in the agricultural sector.