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Features of Taxation and Doing Business by Insurance Companies in the Wartime
Kuriacha N. V.

Kuriacha, Natalia V. (2022) “Features of Taxation and Doing Business by Insurance Companies in the Wartime.” Business Inform 11:216–220.
https://doi.org/10.32983/2222-4459-2022-11-216-220

Section: Finance, Money Circulation and Credit

UDC 338.4

Abstract:
The purpose of the article is to study the peculiarities of taxation and doing business by insurance companies under martial law and to determine an algorithm of actions if an insured event occurred during the wartime. Our country is at war now, the current task for business consists in supporting the economy of our State, and this can only be done by preserving the business that operates in Ukraine and pays taxes. Insurance companies must accumulate their strength and do everything to be useful to society for the preservation of Ukraine. The rules of doing business have changed, this is also because of the changes in tax legislation in the wartime. The state for the duration of martial law has simplified tax rules and conditions for doing business. The government has introduced significant changes to reduce the tax burden on insurance companies and on citizens of the country. The amount of taxes paid to the State and local budgets depends on the financing of the defense capability of our country and the performance of other functions assigned to the State. Taxes must be paid on time and in full. The current system of taxation of insurance companies has some problems that require their further study and search for solutions. This will give impetus to new opportunities for the development of the insurance business in our country, since precisely the insurance market is an important component of a market economy that protects people’s well-being and makes a profit by investing temporarily free money in promising projects.

Keywords: taxation, tax system, business, insurance company, insurance indemnity.

Bibl.: 8.

Kuriacha Natalia V. – Candidate of Sciences (Economics), Associate Professor, Department of Economics, Entrepreneurship and Enterprise Management, Oles Honchar Dnipro National University (72 Nauky Ave., Dnіpro, 49010, Ukraine)
Email: [email protected]

List of references in article

Miokova, H. I., and Samsonova, K. V. “Faktory vplyvu na finansovu stiikist pidpryiemstva“ [Factors Affecting the Financial Stability of the Enterprise]. Naukovi zapysky KNTU. 2011. https://core.ac.uk/download/pdf/84825095.pdf
“Achieving Financial Stability For Small & Medium Enterprises“. Mazars. 2021. https://www.mazars.com.ng/Home/Insights/Finance-Act-2020/Financial-Stability-for-SMEs
Mazur, N. et al. “Improvement of Controlling in the Financial Management of Enterprises“. TEM Journal, vol. 10, no. 4 (2021): 1605-1609. DOI: https://doi.org/10.18421/TEM104-15
Ofitsiinyi sait Natsionalnoho banku Ukrainy. https://bank.gov.ua/
Volianska, O. “Yak pratsiuie systema strakhuvannia pid chas viiny“ [How the Insurance System Works During Wartime]. ZN,UA. March 08, 2022. https://zn.ua/ukr/finances/jak-pratsjuje-sistema-strakhuvannja-pid-chas-vijni.html
Hordiienko, O., Shevchuk, S., and Shapoval, K. “Zhyttia dovshe za viinu. Voienni dii vdaryly po ukrainskomu strakhovomu rynku, ale vin prodovzhuie pratsiuvaty. Shcho varto znaty kliientam v Ukraini ta za kordonom“ [Life Is longer Than War. The Hostilities Hit the Ukrainian Insurance Market, but It Continues to Work. What Customers in Ukraine and Abroad Should Know]. Forbes. March 01, 2022. https://forbes.ua/inside/zhittya-dovshe-za-viynu-viyskovi-dii-vdarili-po-ukrainskomu-strakhovomu-rinku-ale-vin-prodovzhue-pratsyuvati-shcho-varto-znati-klientam-v-ukraini-ta-za-kordonom-01042022-5219
Terpai, O. “Strakhuvannia pid chas voiennoho stanu: chy ye shansy na vidshkoduvannia“ [Insurance During Martial Law: Are There Any Chances of Reimbursement]. Liga Zakon. March 31, 2022. https://biz.ligazakon.net/analitycs/210301_strakhuvannya-pd-chas-vonnogo-stanu-chi--shansi-na-vdshkoduvannya
Hovorushko, T. A. Strakhovi posluhy [Insurance Services]. Kyiv: TsUL, 2011.

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