Yarmolenko Yuri, PhD candidate of Management, Finance, Banking and Insurance Department, Khmelnytskyi University of Management and Law, Khmelnytskyi, Ukraine

ORCID ID: 0000-0002-0628-4396
e-mail: uarmolen@ukr.net

The Impact of the Unrecovered VAT Tax Credit on the Financial Position of Agricultural Producers

Annotation. Introduction. The article examines the impact of arrears on the tax credit declared in the tax reporting and undeclared for reimbursement on the financial position of large agricultural producers and farms using correlation analysis. 10 large agricultural enterprises of Khmelnytskyi region, which had the largest amount of arrears of unrecovered tax credit in declarations in 2018 and 10 farms according to the largest indicator of negative value of VAT (line 21 of the declaration for December) were selected. The influence of tax factors (unrecovered VAT, export supplies at a tax rate of 0%) on the financial condition of agricultural producers was investigated using econometric calculations (correlation analysis). It has been established that export operations are the main indicator that allows large agricultural producers-exporters to form the unrecovered VAT. This conclusion has been substantiated by the fact that the negative value of the unrecovered tax credit by 77.3% according to the determination coefficient (Ky х100) depends on the supply of agricultural products outside Ukraine at a zero VAT rate. The share of the influence of all other factors on the unrecovered VAT accounts for 22.7%.

The opposite situation in terms of the dependence of the results of activities on the declared and unrecovered VAT has been observed in the farms of the region. According to the calculations and the data of the multiple regression coefficient, an average correlation (Ryx = 0,594) was found between the availability of farmland and the financial position of farming enterprises. Thus, the indicator of the availability of land (arable land) in use influenced the financial results of the work of 10 selected farming enterprises in the region only by 35.3%.

It has been substantiated that for the purpose of a more reliable analysis of the performance of farming enterprises (the share of the influence of other factors is 65%), it is necessary to use the performance indicators of the latter according not to the data of the VAT reporting, but according to statistical reporting, in particular forms.

Keywords: VAT recovery; value added tax; financial position; agricultural producers; farming enterprises; econometric calculations.

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