Means of implementation of the economic mechanism of regulation of activity of transport enterprises

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National Transport University

Department of Transport Law and Logistics

Means of implementation of the economic mechanism of regulation of activity of transport enterprises

Lyudmyla Volynets,

candidate of Sciences (Economics), Associate Professor

Iryna Gorobinska, assistant lecturer

Abstract

The relevance of the research topic lies in the significant impact of transportation costs and price formation for all goods, services and the need to reduce the transport component in the costs of other sectors of the economy.

The main purpose of the study is to substantiate the means of implementing the economic mechanism of regulating the activities of transport enterprises in the areas of tariff formation, taxation and investment.

The research methods were the method of system analysis, the method of analysis and synthesis, the method of comparison, the balance method, the intersectoral analysis.

In the course of the research, it was established that ensuring the development of the national economy is possible only if the transport component in the costs of related industries is reduced, taking into account the multiplier effect of the growth of the transport industry. The results are presented based on the establishment of intersectoral effects, calculated based on the use of the table "cost-output". This model reflects both the direct - directly through transport activities - impact on various sectors of the economy, and the indirect economic effect due to the results of activities in the field of transport. The impact of lower individual taxes on the performance of transport enterprises (profitability) is also analyzed, the results indicate a positive effect.

The implementation of the proposed means of implementing the economic mechanism of regulation of transport enterprises will increase the efficiency of management, which, in turn, will meet the necessary needs for the development of transport enterprises by the conditions of expanded reproduction and increase efficiency, quality and volume of transport services., to direct the released and additionally attracted means for the decision of the most actual problems of the transport enterprises and their modernization.

The practical value of the study is that reducing taxes will reduce tariffs on transport services, which will reduce the transport component in the costs of related industries and as a result of the implementation of intersectoral links will result in lower prices for goods and services in other sectors.

Key words: economic mechanism, transport enterprises, cross-branch relations, taxation, tariff formation, investments.

Introduction

Formulation of the problem. In modern economic conditions, and especially during the financial crisis caused by the pandemic, transport companies are faced with the priority of ensuring their sustainable and efficient operation. However, not only environmental factors but also the lack of an effective mechanism for managing the activities of transport enterprises negatively affect the activities of enterprises.

Material and technical base, depreciation of rolling stock, declining traffic, underdeveloped transport infrastructure, the unsatisfactory financial condition of the industry, low quality of transportation, rising prices for material resources, low rates of resource-saving technologies, lack of funding sources, lack of investment in financing the technological modernization of transport development are the main problems that need to be solved.

Analysis of basic research and publications. Problems of regulating the activities of transport enterprises and ways to solve them were studied by the following domestic and foreign scientists: O. Akimov, A. Bazylyuk, T. Vorkut, V. Gurnak, N. Kudrytska, Y. Lazebnyk, A. Novikova, Y. Pashchenko, M. Pogrebytsky, V. Razvadovsky, Y. Slobodyanyk, D. Tymokha, A. Tkachenko, S. Khakhlyuk, I. Khomenko and others. Despite the significant interest in the scientific, economic and political spheres of the problem, the issues of developing effective measures to implement the policy of regulating the activities of transport enterprises, which cover such key areas as tariff policy, investment policy, and tax policy, as well as the development of an effective mechanism to increase the impact of the efficiency of transport enterprises on the development of the economy as a whole.

Purpose of the article: substantiation of means of realization of the economic mechanism of regulation of activity of the transport enterprises in the spheres of tariff formation, taxation and investment for the introduction of the policy directed on maintenance of development of the national economy at the expense of reduction of a transport component in expenses of adjacent branches.

Presentation of the main material

The main areas of activity of transport enterprises needs of reform are the following: tariff formation policy, investment policy and taxation policy.

The main problem remains the high tax burden at the level of economic entities, which encourages them to seek different methods of minimizing taxes and avoiding their direct payment. The current taxation system restrains the processes of accumulation and investment, directs resources to unproductive consumption, it poses risks to economic development in the long run. Therefore, the main factor in improving taxation should be the need to stabilize finances at the micro level and the formation of microeconomic preconditions for overall economic development. One of the important components of optimizing the taxation system is strengthening its positive impact on the formation of full-fledged market participants and the creation of a competitive environment as a mechanism for implementing the most effective business decisions.

The study analyzed the impact of reducing certain taxes on the performance of transport enterprises (profitability), the results indicate a positive effect, for example: when replacing the income tax with a tax on withdrawn capital profitability will increase by an average of 1-3 %, with a reduction in tax on value added by 10%, we get an increase in profitability of 6-7%. That does not only reduce the tax burden and increases tax returns, but also releases additional resources to improve the efficiency of the enterprise.

Equally important is the lack of additional sources of funding, low investment attractiveness, the inability to obtain affordable loans, and the lack of government support programs for transport companies. The level of investment in the transport sector in Ukraine is too low compared to other countries, last year they decreased by 40%. According to research conducted by the German banking group DVB, the world's total investment in all modes of transport is estimated at around $ 300 billion. per year and in addition for the repair and construction of roads about 113 billion dollars [4]. In our country, after the adoption in 2018 of the National Transport Strategy of Ukraine for the period up to 2030 [2], a benchmark was set only for the allocation of 17-22 million euros of investment in the transport sector for the entire period. Therefore, it is the search for additional sources of financing and innovative forms of cooperation with investors that will ensure the further development of the transport industry. This should be accompanied by the formation of a favorable investment climate in the formal economy, capital protection, and the creation of mechanisms to protect against the devaluation of invested funds.

Another problem is the tariff policy. Tariffs are the basis for planning the financial activities of transport companies. Expensive methods of construction of tariffs that operate today do not satisfy the development of transport services, which leads to a reduction in traffic, a high level of wear and tear of vehicles, and a decline in the quality of services. Tariffs are formed without taking into account the interests of consumers of these services, without taking into account the adequacy of financial resources necessary for the proper functioning of transport enterprises, the calculation of the tariff does not include sufficient costs necessary for quality transportation and modern renewal of vehicles [3]. In the structure of the cost of transport enterprises, a much larger share, compared to other industries, is occupied by other operating costs, which indicates an overestimation of the total amount of costs. In addition, without the introduction of state regulation of prices for fuels and lubricants, it is not possible to establish an equivalent exchange, because resource prices are growing faster than prices for transport services, resulting in the profitability of such industries remains quite high, there are profits. The problem of reducing the transport capacity of GDP is not solved, transport costs are included in total costs twice: when raw materials are delivered, as a result of which the transport component is included in production costs and increases costs, and when finished products are transported, resulting in transport costs the price of goods increases, so the issue of reducing the transport component is a priority.

Based on the results of previous research, the concept and economic mechanism for regulating the activities of transport enterprises has been developed, which is a set of principles, functions, methods, areas of reform, and means of implementation, which balances the interests of all actors and creates favorable conditions for their effective operation their inherent functions. The main purpose of developing an economic mechanism for regulating the activities of transport enterprises is to ensure the development of the national economy by reducing the transport component in the costs of related industries. It was determined that the priority areas that need to be addressed and the main aspects of their reform should be developed are tariff policy, tax policy and investment policy. The measures that need to be implemented in these areas are shown in Fig. 1.

The following means of realization in the field of tariff formation are offered:

1. Formation of tariffs taking into account the benefits of the payer.

2. Improving the cost management mechanism by changing the cost structure and reducing its value.

3. Reforming the tariff policy to improve the methodology for calculating tariffs by including in the tariff structure the costs necessary for transportation, repairs, upgrades, etc.

4. Changing the cost structure by rationing other operating costs.

5. Restoration of the investment tariff component to ensure the process of reproduction of fixed assets in transport.

6. Reducing the transport capacity of GDP by reducing the transport component.

7. Introduction of the mechanism of formation of parity of exchange of results of work between the transport enterprises and suppliers of fuels and lubricants and parity of the prices.

The following means of implementation in the field of taxation are offered:

1. Improving the methodology for calculating income tax by introducing an investment benefit or replacing it with a tax on withdrawn capital.

2. Exemption from taxation of the part of income that is necessary to meet the most basic needs of the enterprise, by setting a non-taxable minimum for businesses.

3. Reduction of the value-added tax rate provided that these funds are directed to the development of production capacity.

4. Reduction of the single social contribution rate subject to an increase in the wage fund to legalize wages.

5. Increasing the fee for the environment to stimulate a technological renewal of vehicles.

The following means of implementation in the field of investment are offered:

1. Provision of state support in the form of grants, public lending programs, targeted subsidies, compensations, etc.

2. Creating favorable conditions for investment by other industries in the transport sector.

3. Creating favorable conditions for the use of own sources of investment.

4. Use of new sources of financing through the introduction of public-private financing, financial engineering, concession agreements, etc.

5. Application of accelerated depreciation of fixed assets to release additional financial resources.

6. Improving the mechanism of vehicle leasing.

7. Preferential loans of banks, for which the state compensates the transport company part of the credit load, the possibility of joining the program "Available loans 57-9%".

economic transport enterprises

Fig. 1 - Means of implementing the economic mechanism for regulating the activities of transport enterprises

The transport industry significantly affects the formation of prices for goods and services, because transport costs are included in determining the value of any product. The reduction of prices for transport products will lead to a reduction in the transport component in the costs of related industries, which as a result of the implementation of intersectoral links will result in lower prices for goods and services in other sectors of the economy.

As a result of the study, the calculation of intersectoral multiplier effects by reducing transport tariffs by 5% and 10% (Table 1). The calculation was based on the use of the price model of intersectoral balance, which is based on a system of balance equations that reflect the formation of the value of products produced by the industry, taking into account the multiplier VV Leontiev.

Table 1 - The results of the assessment of intersectoral effects as a result of reducing transport tariffs,%