BUSINESS INFORM №9-2014

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Section: Finance, Money Circulation and Credit
UDC 336.63
Leonov D. A.
Nonstate Pension Savings: Discussion Issues of the Tax Incentives and Disincentives in Ukraine (p. 292 - 297)
The aim of the article is to evaluate the impact of taxation on the activities of the nonstate pension funds (NPF), the behavior of their depositors and participants, to ground the possible ways of reforming the tax law of Ukraine concerning taxation of the pension savings in the NPF and the users of their financial services. In the article the current stage of taxation in the field of the financial services of the NPF in Ukraine is analyzed. It was reasoned, that the introduction of the defined contribution pension systems in the different countries is always accompanied by establishing of a comprehensive balanced system of taxation of both offerers and consumers of the financial services. It was determined that tax innovations have the ambiguous impact on activities of the NPF in Ukraine. The most destructive norms are: «special tax» on securities trading, which discourages the active management of the investment portfolio of the NPF and leads to additional costs in the operations with a large part of the active assets of the NPF; the execution of the general charging order on the tax and other mandatory payments for the NPF; tax regime of the personal income set for the retirement savings at the stage of the outpayments and inheritance. The necessity of the subsequent changes in the tax laws were proved: removal of mechanisms for the indirect seizure of the pension savings of citizens through the «special tax» on securities trading; exclusion of the possibility of blocking the activity of NPF and of the endamagement from the stop of their performance by the tax authorities; regulation of the legal norms concerning the taxation regime of the personal income tax on the pension payments to the nonstate pension system and the rules governing such payments in special legislation; application of the preferential tax regimes only to persons who have reached State pension age or are incapacitated according to the law; application of the reduced (concessionary) rates of taxation on the inherited nonstate pension savings only if the target destination remains unchanged.
Keywords: pension system, pension fund, the participants of nonstate pension fund, pension savings, taxes
Bibl.: 11.

Leonov Dmytro A. – Candidate of Sciences (Economics), Professor, Professor, Department of Finance, Kyiv National Economic University named after Vadym Hetman (54/1 Beresteiskyi Ave., Kyiv, 03057, Ukraine)
Email: [email protected]

Article is written in Ukrainian
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Reference to this article:
Leonov, Dmytro A. (2014) “Nonstate Pension Savings: Discussion Issues of the Tax Incentives and Disincentives in Ukraine.” Business Inform 9:292–297.

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