Iron Ore Use as a Potential of Sustainable Development of Industrial Regions of Ukraine: Aspects of Environmental Taxation

¹ Kyiv National Economic University named after Vadim Hetman, Department of Regions and Tourism, 03057, Victory Avenue, 54/1, Kyiv, Ukrainе
² Research institution «Resource», 02149, Larisa Rudenko str., 3B, Kyiv, Ukrainе
³ Kyiv National University of Culture and Arts, Department of International Tourism, 01142, Chigorina str., 20, Kyiv, Ukrainе
⁴ Kyiv National Economic University named after Vadim Hetman, Department of Economic and Mathematical Modeling and Statistics, 03057, Victory Avenue, 54/1, Kyiv, Ukrainе
⁵ Vinnytsia State Pedagogical University named after Mykhailo Kotsyubynsky, Department of Pedagogics and Professional Training and Management of educational institutions, 21018, Ostrozkoho str., 32, Vinnytsia, Ukraine
⁶ Vinnytsia State Pedagogical University named after Mykhailo Kotsyubynsky, Department of Ukrainian Language, 21018, Ostrozkoho str., 32, Vinnytsia, Ukraine
⁷ Taras Shevchenko National University of Kyiv, 01033, str Volodymyrska 64/13, Kyiv, Ukraine
⁸ National Bank of Italy, Via Nazionale str., 91, Rome, Italy

^* Corresponding author: gromozdovag@gmail.com

Abstract

The article investigates the resources potential of Ukraine, which is not used effectively enough for the needs of sustainable economic development of industrial regions. The article aims to identify ways to increase the eco-tax base in order to improve the budget support for sustainable development of the iron ore subsoil use and synergetic development of industrial regions of Ukraine. The normative-legal base of subsoil users' taxation is investigated. The necessity of ecological taxation is substantiated as the consequence of enterprise activity is actual environmental pollution. Applied innovations in the method of calculating the environmental tax are proposed. They consider the factor of ownership of natural resources and the discount change in their value over time, which will ultimately increase tax revenues to the budget. It is recommended to introduce the author's approach in the methods of calculating the environmental tax in the field of iron ore subsoil use, which synergistically affects the development of industrial regions of Ukraine. It is justified that the COVID - crisis is a heavy burden on local and state budgets. Therefore, it is necessary to further optimize the system of environmental taxation in order to increase environmental contributions to the budget.