Innovative changes in financial and tax systems in the conditions of digital transformation

Manzhura, Oleksandr and Pochenchuk, Galyna and Kraus, Nataliia (2022) Innovative changes in financial and tax systems in the conditions of digital transformation Baltic Journal of Economic Studies, 8 (1). pp. 94-102. ISSN 2256-0742; 2256-0963

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Abstract

Purpose of scientific research. The purpose of the research is to present the fea-tures of innovative changes in financial and tax systems in terms of digital trans-formation as a foundation on which to build a new quality of economic system in terms of virtual mobility and financial technologies that change business in the direction of its electronic direction. The object of scientific research. The object of scientific research is the process of digitizing innovative changes in financial and tax systems in terms of virtual mobility, which has every chance to become a decisive step in implementing digital development strategy of Ukraine through the development of digital financial instruments, digitized financial development institutions, smart services and efficient defining a new quality of management of financial and tax systems. Methodology. On the basis of comparative-retrospective analysis, synthesis, system method the digitalization of innovative changes of financial and tax systems is investigated, which determines the new quality and format of work of financial development institutions in the times of deepening virtual mobility. Comparative analysis was used in the study of the content of regulatory and supervisory financial technologies, namely: RegTech, SupTech; the functions of financial system that reveal its role are indicated. The result of the article. Factors contributing to the development of financial system are presented; provide an author’s vision of the content of non-financial compa-nies that provide traditional financial services in virtual reality. The content of some innovative and digital changes in Ukrainian tax system has been identified and disclosed. Practical implications. It is argued that key innovative changes that need to be addressed in the context of reforming and digital transformation of financial system have been revealed. Factors contributing to the development of financial system are presented. The peculiarities of digital initiatives that take place in the taxation system are indicated. Value/originality. It is proposed that in order to timely inform taxpayers in the media and on the web portal of the tax service on Internet systematically covers main issues regarding the procedure for filing tax returns, categories of taxpayers required to file reports, deadlines for such reporting, list of costs included as part of tax rebate. Payer Service Center should implement this awareness. Author’s vision of the content of practical work of non-financial companies providing traditional financial services in the conditions of virtual mobility is presented and thoroughly revealed.

Item Type: Article
Uncontrolled Keywords: innovative changes; digital financial technologies; financial system; digital trans-formation; digitalization of the tax system
Subjects: Статті у наукометричних базах > Index Copernicus
Статті у наукометричних базах > Web of Science
Divisions: Факультети > Факультет інформаційних технологій та управління > Кафедра фінансів та економіки
Depositing User: д.е.н. Наталія Миколаївна Краус
Date Deposited: 06 Jun 2022 07:37
Last Modified: 07 Jun 2022 17:23
URI: https://elibrary.kubg.edu.ua/id/eprint/41218

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