Issue №: 1 (75)
The journal deals with the issues of efficiency of functioning of the national economics and organizational forms of management of the national economy. Attention is paid to the problems of marketing, management and efficiency of production and economic activity of agrarian enterprises. The issues of public administration and administration, accounting and taxation, banking and insurance, forecasting and modeling of economic processes, foreign economic activity, commodity flows of economic entities and their infrastructure support.
THE TAX SYSTEM OF UKRAINE IN THE CONDITIONS OF MILITARY STATE AND ITS IMPACT ON INVESTMENT ATTRACTIVENESS
SAVITSKA Svitlana – Candidate of Economical Sciences, Associate Professor, Associate Professor of the Department of Accounting, Taxation and E-Business Technologies, Higher Education Institution «Podillia State University» (32316, Kamianets-Podilskyi, 12, Shevchenka Str., e-mail: savitska_svitlana@pdatu.edu.ua, https://orcid.org/0000-0003-1739-3536).
The article examines the transformation of Ukraine’s tax system and its impact on the country’s investment attractiveness amid a full-scale war. It analyses the dynamics and structure of tax revenues to the state budget in 2021–2025, identifies key trends in the changes in fiscal potential, and identifies the role of individual taxes in generating budget revenue. Particular attention is paid to the impact of military action on macroeconomic indicators, in particular, on the reduction in economic activity and the changes in the structure of budget revenues. The paper reveals the specifics of tax changes introduced during martial law and their impact on regulatory predictability and investor confidence. It also analyses the dynamics of foreign direct investment in Ukraine, identifying the factors behind its sharp decline in 2022 and subsequent instability in 2023–2025. It also examines the key risk factors that deter investors from investing in the economy of a state of war, and substantiates the ways of providing Ukraine’s investment attractiveness even during a prolonged, full-scale russian invasion. The article outlines the most appropriate areas and mechanisms for ensuring a sustainable increase in the country’s economic attractiveness. The role of financial and institutional support from Western partners and international financial institutions is highlighted. Based on international experience with post-crisis tax reforms (Ireland, Cyprus, and Bulgaria), a conclusion is drawn regarding the advisability of developing a competitive and predictable tax system focused on stimulating investment rather than increasing the tax burden. It is demonstrated that the effectiveness of tax reforms in Ukraine should be based on adapting the best international practices to national conditions, taking into account military challenges, the tasks of post-war reconstruction, and the state's European integration policy.
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2. Shalimova, N.S., Mahopets, V.V. & Shalimov, V.V. (2024). Vyklyky podatkovii systemi v umovakh viiny ta napriamy yii reformuvannia z urakhuvanniam yevropeiskykh tendentsii [Challenges to the tax system in wartime and directions for its reform taking into account European trends]. Tsentralnoukrainskyi naukovyi visnyk – CentralUkrainian Scientific Bulletin, 12 (45), 274-285. DOI: https://doi.org/10.32515/2663-1636.2024.12(45).274-285 [in Ukrainian].
3. Derzhavnyi veb-portal biudzhetu dlia hromadian [State budget web portal for citizens]. (2025). Retrieved from: URL:https://openbudget.gov.ua/?month =12&year=2021&budgetType=NATIONAL [in Ukrainian].
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5. Samoiliuk, M. Treker ekonomiky Ukrainy pid chas viiny [Ukraine’s economy tracker during the war] (2025). ces.org.ua. Retrieved from: https://ces.org.ua/tracker-economy-during-the-war/ [in Ukrainian].
6. Kornyliuk, A., & Torianyk, V. (2025). Priami inozemni investytsii u rehiony Ukrainy za chas povnomasshtabnoho vtorhnennia [Foreign direct investments into the regions of Ukraine during the full-scale invasion]. Instytut analityky ta advokatsii – Institute of analytics and advocacy. Retrieved from: https://iaa.org.ua/portfolio/ foreign-direct-investment-in-the-regions-of-ukraine-during-the-full-scale-invasion/? gad_source=1&gad_campaignid =22613040175&gbraid=0AAAAAp3Jda6NRwhB UeNMXfKYf9vyIFe8-&gclid=Cj0KCQiAm9fLBhCQARIsAJoNOcsB_tLtAoiN2 mi3kJRdAsTAMWI0ZCzNKMFTI0ZBJipaY3GHhpRg0DEaAiiUEALw_wcB [in Ukrainian].
7. Priami inozemni investytsii (PII) v Ukrainu [Foreign Direct Investment (FDI) in Ukraine]. (2025). index.minfin.com.ua. Retrieved from: https://index.minfin.com.ua/ua/economy/fdi/ [in Ukrainian].
8. Pro vnesennia zmin do Podatkovoho kodeksu Ukrainy ta inshykh zakonodavchykh aktiv Ukrainy shchodo dii norm na period dii voiennoho stanu: Zakon Ukrainy № 2120-IX [On amendments to the Tax Code of Ukraine and other legislative acts of Ukraine regarding the application of norms for the period of martial law: Law of Ukraine № 2120-IX]. (2022, March 15). zakon.rada.gov.ua. Retrieved from: https://zakon.rada.gov.ua/laws/show/2120-20#Text [in Ukrainian].
9. Pro vnesennia zmin do Podatkovoho kodeksu Ukrainy ta inshykh zakoniv Ukrainy shchodo osoblyvostei opodatkuvannia u period dii voiennoho stanu: Zakon Ukrainy № 3219-IX [On Amendments to the Tax Code of Ukraine and Other Laws of Ukraine Regarding the Peculiarities of Taxation during the Period of Martial Law: Law of Ukraine № 3219-IX]. (2023, June 30). zakon.rada.gov.ua. Retrieved from: https://zakon.rada.gov.ua/laws/show/3219-20#Text [in Ukrainian].
10. Sorokolat, I. (2024). Pravovyi rezhym opodatkuvannia: sutnist, oznaky ta vydy [Legal regime of taxation: essence, features and types]. Pravo ta innovatsiine suspilstvo – Law and innovative society, 2 (23). DOI: https://doi.org/10.37772/2309-9275-2024-2(23)-6 Retrieved from: https://apir.org.ua/lais/uk/article/view/448 [in Ukrainian].
11. Kmit, V. (2022). Tax audits during the period of martial law in Ukraine. Scientific Bulletin of Mukachevo State University, 2022, 9(4), DOI: https://doi.org/10.52566/msu-econ.9(4).2022.16-23[In English].
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13. Іvanenko, V., Laichuk, S., & Khomenko, H. (2023). Podatkova polityka subiektiv maloho biznesu pid chas voiennoho stanu. [Tax policy of small businesses during martial law]. Ekonomika. Upravlinnia. Innovatsii – Economics. Management. Innovations, 1 (32). DOI: 10.35433/ISSN2410-3748-2023-1(32)-3 Retrieved from: https://eprints.zu.edu.ua/37674/1/%D0%86%D0%B2%D0%B0%D0%BD%D0%B5%D0%BD%D0%BA%D0%BE.pdf [in Ukrainian].
14. Savitska, S., & Zabolotnyy, S. (2025). Comparative Analysis of Tax Incentive Policies for Investment Attraction: Evidence from Ukraine and the European Union. Turystyka i rozwój regionalny, 25, 113-123. DOI: 10.22630/TIRR.2025.24.23 [In English]
15. Investytsii v Ukrainu: doslidzhennia vid SUP investytsiinoho potentsialu krainy [Investments in Ukraine: a study by the SUP of the country's investment potential]. (2025). sup.org.ua. Retrieved from: https://sup.org.ua/news/rezultaty-doslidzhennia-sup/ [in Ukrainian].
16. Nechyporuk, O.V. (2023). Problema zaluchennia inozemnykh investytsii v Ukraini pid chas viiny [The problem of attracting foreign investment in Ukraine during the war]. Ekonomika ta suspilstvo – Economy and society, 54. DOI: https://doi.org/10.32782/2524-0072/2023-54-6 Retrieved from: https://economyandsociety.in.ua/index.php/journal/article/view/2714 [in Ukrainian].
17. Chornyi, M., & Viblyi, P. (2025). Perspektyvy zaluchennia inozemnykh investytsii v umovakh ekonomiky viiny [Prospects for attracting foreign investment in the conditions of a war economy]. Halytskyi ekonomichnyi visnyk – Galician Economic Bulletin, 1 (92), 86-92. DOI https://doi.org/10.33108/galicianvisnyk_tntu2025.01.086 [in Ukrainian].
18. Borodina, O. A., & Liashenko, V. I. (2022). Povoienne vidnovlennia ekonomiky: svitovyi dosvid ta sproba yoho adaptatsii dlia Ukrainy [Post-war economic recovery: world experience and an attempt to adapt it for Ukraine]. Visnyk ekonomichnoi nauky Ukrainy – Bulletin of Economic Science of Ukraine, 1 (42), 121-134. DOI: https://doi.org/10.37405/1729-7206.2022.1(42).121-134 [in Ukrainian].
About journal
051 Economics
071 Accounting and taxation
072 Finance, banking and insurance
073 Management
075 Marketing
076 Business, trade and exchange activities
241 Hotel, restaurant and catering
281 Public administration
The journal “Economy, finances, management: Topical issues of science and practice” is included in the "List of Scientific Professional Editions of Ukraine".
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