Tax incentives as a factor in the sustainable development of small and medium-sized businesses

Small and medium-sized businesses (SMEs) demonstrate stable growth in retrospect according to key indicators. The increase in manufactured products is inextricably linked with the growth of fiscal payments. The current tightening of fiscal policy may negatively affect the further development of SMEs. One of the approaches to assessing the effectiveness of the fiscal policy is the Laffer approach, which allows comparing the tax burden and tax rates, as well as comparing the calculated values with the actual data. The purpose of the study is to assess the tax burden of the domestic small and medium-sized business sector and develop recommendations aimed at supporting its development and ensuring fiscal revenues to the state budget. The research methods are statistics, numerical solution of differential equations, retrospective analysis, comparison, generalization. Conclusions are made on the possible reduction of the tax burden for SMEs by reducing the accumulated burden on the wage fund, abolishing mandatory pension contributions of the employer, as well as social tax. Reduction of fiscal payments due to easing of tax burden can be compensated by application of progressive taxation system in relation to individual income tax. Positive aspects of transition from flat to progressive taxation system are presented. Analytical conclusions can be used in foresight planning of SME development at macro regional level, analysis of tax burden by representatives of fiscal, economic development departments, interested persons

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