Taxation as a Component of Investment Climate

The research paper presents the results of the study of the state and problems of the investment climate in Ukraine. The concept of the investment climate, its characteristics and the estimation on different indicators have been revealed. The criteria for assessing the investment climate on the Stobaugh scale have been analyzed and the current state of investment attractiveness of Ukraine according to the fiscal and administrative criteria of the Paying Taxes (PwC and the World Bank Group) has been determined. The purpose of the paper is to analyze the approaches to determining the factors influencing decision-making by foreign investors regarding the investment of their capital based on the indexes of rating assessments of the investment attractiveness index of the country. The article analyzes and summarizes the criteria for assessing the investment climate of transnational corporations in the country of potential investment, which reflects the system of values of foreign investors and their way of thinking. It has been established that an important place in the system of valuation is the system of collecting taxes and fees. The scientific novelty of the research is to systematize the main approaches to determining the criteria for assessing the investment climate by various features and to determine the directions for its improvement in Ukraine by means of taxation. The methodology of the research was based on deductive, inductive, rational and systematic approaches, statistical and mathematical analysis of various indicators and criteria for assessing the investment climate. The practical significance is to systematize the main approaches to determining the investment attractiveness of the country and identify the factors by which in Ukraine it is possible to improve the investment climate by means of taxation. A promising direction for further exploration in this problem is to identify the benefits of attracting foreign direct investment, as well as directions for activating activities to improve the investment climate through tax instruments.