VAT AND EXCISE TAX IN THE SYSTEM OF EXTERNAL TRADE OF UKRAINE

The article analyzes the structure and dynamics of excise tax and value added tax for the last five years and their influence on formation of consolidated budget of Ukraine. The article observes main trends of tax systems in the EU with the aim to find the guideline for reforming Ukrainian tax system. Key priorities of reforming tax policy in the process of adapting national tax system to European standards are defined. Analysis of international experience shows that there is a practice of reduced rates of VAT on food in most EU countries. Reduced VAT rates are relevant in order to stimulate an increase in the share of domestic food turnover in the structure of expediency. To improve the fiscal and regulatory role of the excise tax we propose to expand the list of excisable goods. The increase in revenues due to excise tax expansion of the list of excisable goods can be regarded as compensation for revenue lost from the application of reduced rates of VAT.