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Digital Innovations in the Fiscal Policy of Ukraine: Promoting Sustainable Economic Development

Author

Listed:
  • Olena Lukianykhina

    (Kharkiv National University of Internal Affairs Sumy Branch, Sumy, Ukraine)

  • Svitlana Suprunenko

    (State Tax University, Irpin, Ukraine)

  • Alla Slavkova

    (Kyiv National Economic University named after Vadym Hetman, Kyiv, Ukraine)

  • Oleh Skorba

    (Sumy State University, Sumy, Ukraine)

  • Kostiantyn Zavrazhnyi

    (Sumy State University, Sumy, Ukraine)

Abstract

This study critically examines the nexus between tax legislation and digital innovation in Ukraine, focusing on the alignment of fiscal policy with the digital economy's growth. It analyzes the implications of Ukraine's tax reforms, including the Law "On Stimulating the Development of the Digital Economy in Ukraine," commonly referred to as the Diia City initiative, for promoting a robust digital economy. This research evaluates the effectiveness of these reforms in fostering digital advancements and their impact on sustainable economic development. Employing a comprehensive multidisciplinary approach, it researches into the theoretical and practical aspects of tax policies, particularly those targeting the digital sector. The findings suggest Ukraine's strategic positioning for leveraging digital innovation, underpinned by legislative reforms such as amendments to the Tax Code of Ukraine that cater to the IT industry through specific tax regulations through a conducive fiscal environment. This paper highlights the transformative potential of digital innovations and the critical need for tax legislation to evolve in tandem with technological advancements. Recommendations for ensuring the sustained success of Ukraine's digital and economic reform efforts emphasize the importance of addressing existing obstacles and perpetually refining fiscal policies.

Suggested Citation

  • Olena Lukianykhina & Svitlana Suprunenko & Alla Slavkova & Oleh Skorba & Kostiantyn Zavrazhnyi, 2024. "Digital Innovations in the Fiscal Policy of Ukraine: Promoting Sustainable Economic Development," International Journal of Economics and Financial Issues, Econjournals, vol. 14(4), pages 77-86, July.
    • Handle: RePEc:eco:journ1:2024-04-8
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    References listed on IDEAS

    as
    1. Chenhui Ding & Chao Liu & Chuiyong Zheng & Feng Li, 2021. "Digital Economy, Technological Innovation and High-Quality Economic Development: Based on Spatial Effect and Mediation Effect," Sustainability, MDPI, vol. 14(1), pages 1-21, December.
    2. Hanna Kotina & Maryna Stepura & Pavlo Kondro, 2022. "How Does Active Digital Transformation Affect The Efficiency Of Governance And The Sustainability Of Public Finance? The Ukrainian Case," Baltic Journal of Economic Studies, Publishing house "Baltija Publishing", vol. 8(1).
    3. Paulo Rupino da Cunha & Piotr Soja & Marinos Themistocleous, 2021. "Blockchain for development: a guiding framework," Information Technology for Development, Taylor & Francis Journals, vol. 27(3), pages 417-438, July.
    4. Rizwan Ullah Khan & Volodymyr Saienko & Hanna Tolchieva, 2021. "Dependence of the Company’s Reputation and the Quality of Customer Relations," Economic Studies journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 2, pages 159-176.
    5. Oleksandr Manzhura & Galyna Pochenchuk & Nataliia Kraus, 2022. "Innovative Changes In Financial And Tax Systems In The Conditions Of Digital Transformation," Baltic Journal of Economic Studies, Publishing house "Baltija Publishing", vol. 8(1).
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Digital Economy; Tax Reforms in Ukraine; Sustainable Economic Development; Blockchain Technology; Artificial Intelligence;
    All these keywords.

    JEL classification:

    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • O38 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Government Policy
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
    • Q01 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Sustainable Development

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