TAXATION OF BANKING OPERATIONS ON THE STOCK MARKET:
CURRENT PRACTICES AND FISCAL RISKS

Oleksii MALIARCHUK

Chernivtsi Institute of Trade and Economics of SUTE, Chernivtsi

https://orcid.org/0009-0004-6947-2820

Konon BAGRII

Chernivtsi Institute of Trade and Economics of SUTE, Chernivtsi

https://orcid.org/0000-0002-3516-9565

Serhii RYLIEIEV

Chernivtsi Institute of Trade and Economics of SUTE, Chernivtsi

https://orcid.org/0000-0002-2058-1004

DOI: http://doi.org/10.34025/2310-8185-2025-2.98.12

Keywords: banks, stock market, taxation, financial instruments, tax accounting, fiscal risks, investments, securities, transfer pricing, tax policy.

Summary

In the current context of economic instability and the reform of Ukraine’s financial system, the issue of effective tax regulation of banking operations in the stock market is gaining particular importance. Banks are active participants in the capital market, conducting a wide range of transactions with securities, derivative financial instruments, investment funds, and others. However, the existing tax system does not always consider the specifics of such operations, creating fiscal risks and legal uncertainty. The study aims to identify current issues in the taxation of banking operations on the stock market and to develop proposals for improving the efficiency of tax policy in this area.

The research is based on general scientific methods of analysis and synthesis, comparative legal analysis, and the study of the practical application of tax and financial legislation of Ukraine and the European Union. The structural and logical generalization method made it possible to develop proposals for improving the taxation system and reducing tax risks.

The main problems have been identified: the absence of a unified approach to accounting for securities transactions, the complexity of tax reporting, double taxation in international transactions, and risks associated with transfer pricing. Measures have been proposed to improve taxation of banking operations on the stock market, including the harmonization of national legislation with European standards, the introduction of tax incentives for professional participants in the stock market, and the development of digital accounting tools. The obtained results can be used to draft amendments to tax legislation, increase the transparency of banking operations in the stock market, and reduce tax risks. Future research should focus on developing a unified methodology for the tax accounting of securities and derivative transactions, improving mechanisms for coordinating tax obligations under international agreements, implementing electronic tax reporting systems, and creating incentives for bank investments in long-term and innovative financial instruments.

Biographies of authors:

Oleksii MALIARCHUK,

Chernivtsi Institute of Trade and Economics of SUTE

Candidate of Economic Sciences, Senior Lecturer,

Department of Finance, Accounting and Taxation

Konon BAGRII,

Chernivtsi Institute of Trade and Economics of SUTE

Candidate of Economic Sciences, Senior Lecturer,

Department of Finance, Accounting and Taxation

Serhii RYLIEIEV,

Chernivtsi Institute of Trade and Economics of SUTE

Candidate of Economic Sciences, Senior Lecturer,

Department of Finance, Accounting and Taxation

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