Devising ways to improve the financial and tax mechanisms for overcoming the socio-economic crisis caused by martial law

Olga Dmytryk (), Olena Sereda, Katerina Tokarieva, Mushfik Damirchyiev and Iliana Zinovatna
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Olga Dmytryk: Yaroslav Mudryi National Law University; Scientific and Research Institute of Providing Legal Framework for the Innovative Development of the National Academy of Law Sciences of Ukraine; Research Center of Economic and Legal Solutions in the Area of Application of Distributed Ledger Technologies
Olena Sereda: Yaroslav Mudryi National Law University
Katerina Tokarieva: Vocational College of the Academician Yuriy Bugay International Scientific and Technical University; Scientific and Research Institute of Providing Legal Framework for the Innovative Development of the National Academy of Law Sciences of Ukraine
Mushfik Damirchyiev: Yaroslav Mudryi National Law University
Iliana Zinovatna: Yaroslav Mudryi National Law University

Eastern-European Journal of Enterprise Technologies, 2022, vol. 6, issue 13(120), 20-28

Abstract: The object of this study is the process of improving financial and tax mechanisms to overcome the socio-economic crisis caused by martial law in Ukraine in the context of digital transformation. During the study, the problem of non-compliance of the existing financial and tax mechanisms with the requirements of digital transformation and the peculiarities of the functioning of the financial sphere under martial law was solved. The key elements of financial and tax mechanisms that should be primarily revised in order to overcome the socio-economic crisis have been clarified. The shortcomings of the functioning of financial and tax mechanisms for overcoming the socio-economic crisis are highlighted. The results of a survey of experts on the proposed factors influencing the effectiveness of such mechanisms were analyzed using the Kendall's concordance coefficient. The most significant factors that formed the basis for the developed directions for improving the financial and tax mechanisms for overcoming the socio-economic crisis have been established. The peculiarities and distinctive features of the results obtained are unanimous consideration of the requirements of digital transformation and the peculiarities of the functioning of the financial sphere under martial law. The financial and tax mechanisms improved on the basis of digital technology are based on the declared principles of G20 digital financial inclusion. The most significant factors of influence were the infrastructure of financial and tax mechanisms; legal and regulatory framework for digitalization; combating digital fraud; adaptation of foreign experience in the use of digital technologies to the national environment. The results can be used in the practical activities of the financial authorities of Ukraine in order to overcome the socio-economic crisis under martial law

Keywords: financial and tax mechanism; socio-economic crisis; digital transformation; financial and legal regulation; social policy (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:baq:jetart:v:6:y:2021:i:13:p:20-28

DOI: 10.15587/1729-4061.2022.268376

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