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World experience of family business taxation and prospects of its implementation in Ukraine
Author(s) -
Олексій Найденко
Publication year - 2021
Publication title -
naukovì pracì ndfì
Language(s) - English
Resource type - Journals
eISSN - 2522-4646
pISSN - 2414-3499
DOI - 10.33763/npndfi2021.01.036
Subject(s) - business , legislature , liability , limited liability , commerce , marketing , industrial organization , finance , law , political science
Approaches to defining the essence of family businesses in foreign countries are considered and the main requirements for their creation are determined. It is determined that family business in foreign countries is mostly carried out in farming. The world family business is characterized by two features. First of all, the preservation of a huge number of small and medium enterprises created by family members. The second feature is the presence of huge family corporations and holdings with a world name and age history, which are inherited 3-6 times. Approaches to the regulation of family businesses in the Czech Republic, Hungary and Romania are analyzed. Foreign experience proves that family businesses can be created both in the form of commercial enterprises and in the form of a legal entity, which allows companies to choose the rules of their own activities; an automatic registration procedure is applied, which reduces time costs; the law defines the list of persons who may belong to family members; joint and several liability of family members under the terms of the contract is applied, which strengthens the liability of all family members for the results of activities; There is a distribution of profits depending on the amount of contributions of each family member, which creates the interest of all persons in increasing the profits of the enterprise. Draft legislative acts were considered, which provided for the introduction of family businesses taxation or regulation of their economic activities. The advantages and disadvantages of such bills are substantiated. The existing system of taxation of family farms within the single tax is analyzed (group 4). Recommendations on the possible introduction of family business taxation in Ukraine as part of the simplified taxation system are substantiated. The risks of applying family business taxation for the state and family businesses are highlighted.

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