• F. Zhuravka Sumy State University, Ukraine
  • O. Kravchenko Sumy State University, Ukraine
  • N. Ovcharova Sumy State University, Ukraine
  • Zh. Oleksich Sumy State University, Ukraine
  • O. Podmarov Sumy State University, Ukraine



tax system, personal income tax, factors, analysis, GDP, inflation, budget


Further reforming of the Ukrainian tax system in order to improve the mechanism of personal income taxation (PIT) and filling local budgets points out the relevance of the research. The article considers the determinants of personal income tax as an important component of the tax system of Ukraine.

The authors analyzed the PIT revenues to the consolidated budget of the country and identified a positive trend of its growth. Determinants and indicators of impact on PIT revenues are highlighted in the study. These factors are divided into following groups: economic, political and legal, demographic, socio-cultural and individual. The influence of main factors (GDP, Employment Rate, Inflation Rate, Average PIT Rate) on the PIT revenue component is considered.

Regression and correlation analyses were performed using STATA program, and linear regression was calculated. In order to assess the dependence, countries were clustered according to key factors of their economic development for the period 2009—2019. According to the analysis results, it is determined that PIT revenues are closely dependent on the general macroeconomic situation in the country, and the average tax rate has a significant impact on its revenues.

Author Biographies

F. Zhuravka, Sumy State University

Doctor of Economics, Professor, Professor of International Economic Relations Department

O. Kravchenko, Sumy State University

Ph. D. in Economics, Associate Professor, Associate Professor of Accounting and Taxation Department

N. Ovcharova, Sumy State University

Ph. D. in Economics, Senior Lecturer of Accounting and Taxation Department

Zh. Oleksich, Sumy State University

Ph. D. in Economics, Assistant of Accounting and Taxation Department

O. Podmarov, Sumy State University

Ph. D. student, International Economic Relations Department


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How to Cite

Zhuravka, F., Kravchenko, O., Ovcharova, N., Oleksich, Z., & Podmarov, O. (2020). PERSONAL INCOME TAX IN UKRAINE: DETERMINANTS` ANALYSIS. Financial and Credit Activity: Problems of Theory and Practice, 2(33), 130–138.



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