Choosing a Taxation System for Individual Entrepreneurs: Legal Requirements, Advantages and Disadvantages

The article is devoted to the analysis of two main taxation systems for individual entrepreneurs in Ukraine: general and simplified. Their impact on the financial activities of small businesses is considered. The legislative requirements for the activities of individual entrepreneurs on each of these systems are analyzed in detail, including selection criteria, limitations and features of accounting. The legislative requirements for paying taxes, submitting reports and keeping records of income and expenses are summarized. Special attention is paid to the comparative analysis of the advantages and disadvantages of each system, in particular the tax burden and the complexity of accounting. Based on the analysis, practical recommendations are provided for choosing the optimal taxation system for individual entrepreneurs, taking into account the specifics of their activities.