REGULATORY AND FISCAL POTENTIAL OF THE INCOME TAX OF ENTERPRISES IN THE ECONOMY OF UKRAINE

The article uses the method of correlation analysis to study the regulatory impact of income tax on business development in Ukraine. Examining the correlations between indicators of tax revenues and tax burden on income tax and indicators of activity and performance of enterprises, namely the number of enterprises, their financial results, capital investments, etc., it was found that corporate income tax in Ukraine is not used as an effective tool for regulating business activities, in particular investment activities of enterprises. Thus, the inverse relationship between the tax burden and the share of capital investments made at the expense of own funds of enterprises, which indicates the existing incentive potential of income tax. The study of the impact of income tax on the number of enterprises revealed a paradoxical fact: reducing the tax burden on enterprises does not lead to their growth. The fiscal significance of the income tax is also analyzed, which demonstrates that in the economy of Ukraine this tax fully fulfills its fiscal function, being one of the main budget-generating taxes. Having studied the regulatory, in particular incentive, and fiscal components of income tax, it is proved and substantiated that the primary task of tax policy of Ukraine is to develop effective incentives in the corporate income tax system, including expanding incentives for income tax incentives and revision of their criteria. that would expand taxpayers' access to them. Foreign experience in the field of income taxation and domestic economic realities show that such benefits should be, first of all, tax investment credit and tax holidays for small businesses.