CROWDFUNDING SYSTEMS: evaluation and government regulation in the conditions of reengineering

include a system of measures and tax incentives to achieve a positive economic and social effect from the development of crowdfunding activities. It is advisable to offer such tax benefits for participants of crowdfunding activities in Ukraine: ڰ zero tax rate during the period of participation in a business incubator or business accelerator; ڰ zero tax rate for the income of participants of a crowdfunding project to a certain amount, for example, up to 1 thousand dollars. This tax benefit will help motivate potential project participants to start such activities since the authors of crowdfunding projects usually do not receive income at the beginning of their activities. Therefore, it is not advisable to introduce this benefit for a specific period from the beginning of the activity. The proposed tax incentives will simplify the start of crowdfunding activities as much as possible, as well as provide an easy exit from it if project participants are not able to receive the desired income and effectively organize the crowdfunding process. Some scientists believe that it is necessary to equate crowdfunding to lending in the context of taxation of an economic entity. In our opinion, this statement is correct. Thus, analyzing the current tax legislation in Ukraine, it becomes obvious that all expenses for servicing loans and paying interest charges that are associated with the company's activities can be interpreted as financial expenses. We are talking about the fact that they are not only tax-free but also the interest in their services is equated to operating expenses. Besides, there is a group of expenses such as «loss from equity participation», which includes all expenses from investments in subsidiaries or associates, as well as in branches. But when a certain recipient raises funds through crowdinvesting or crowdlending, not only can they not take these costs into account when calculating the financial result, but they also have to pay tax. This situation cannot be interpreted correctly. This discrimination of crowdfunding tools leads to the fact that they are almost not used in Ukraine. The next tool for state regulation of crowdfunding activities is the development of cooperation with international and Ukrainian Internet platforms. The essence of this tool is to coordinate the terms of cooperation with the largest Internet platforms in Ukraine and the world, to integrate crowdfunding projects on various Internet platforms, to provide 109