Analysis of the impact of geopolitical factors on tax forecasting

Moroz D., Novikova K.

According to statistics, the share of tax revenues in the country’s consolidated budget is more than 70%. This fact determines the importance of creating an effective system of control over the calculation and payment of taxes to the budget. Analysis of the sources of the budget revenue, as well as ensuring that the planned and actual tax payments to the budget are consistent, helps to build an effective tax mechanism. The article considers the geopolitical factors that influence the paid taxes and fees to the budget. The scientific novelty of the presented article consists in the fact that using factor analysis, the degree of influence of these factors on the resulting indicator is revealed, and an assessment of the influence of each of them is given. The authors concluded that it is necessary to disclose the analyzed parameter and take it into account in tax planning and forecasting.

Keywords:tax planning, geopolitical factors, factor analysis, tax policy, correlation analysis.