- in the Tax Code of Ukraine [5]. Paragraph 14.1.81. of the Tax Code of Ukraine
states that investments are economic operations that envisage acquisition of the fixed
assets, of non-material assets, of corporate rights and/or securities in an exchange on
money or property. Investments are divided on:
a)
capital investments – economic operations, that envisage acquisition of
houses, building, other objects of immobile property, other fixed assets and non-
material assets, that depreciations are subject under this Code;
b)
financial investments are economic operations, that envisage acquisition of
corporate rights, securities, derevatives and/or other financial instruments. Financial
investments are divided on:
direct investments – economic operations, that envisage bringing of money or
property to exchange on the corporate securities issued by a legal entity at their placing
by such person;
portfolio investments – economic operations that envisage the purchase of
securities, derevatives and other financial assets for money at the fund market or
exchange commodity market;
c)
reinvestments are economic operations, that envisage realization of capital or
financial investments due to the income got from investment operations;
3) as assets
- in the Order of Ministry of finance of Ukraine “On ratification of accounting
standart” 2 “Balance” from 31.03.1999 [6].
Due to the investment legislation amendments, V.V. Poedynok suggests the
definition of investments as: funds or other property values that are invested into the
items of the economic activity, in order to get the profit and/or achievement of other
beneficial effect in the result of their economic utilization or the increase of their value;
operations that expect the prescription of costs or other property values, the result of
which is the acquisition of control over the items of economic activity [7; 8].
In the scientific literature it was repeatedly emphasized on the inappropriate
understanding of investments as certain values because “the category of value” does
not reveal the essence of the legal nature of foreign investments [1]. Simultaneously
the notion “economic operation” does not define the content of investments. It is seen
that the realization of investments or investment may be called the economic operation,
while the investment itself does not fall within the definition of economic operation.
V.M. Kossak, analyzing the concept of foreign investment, points that “foreign
investments – are property and property rights and also intellectual property invested
by foreign investor into the objects of investment activity on the territory of Ukraine in
order to get the profit or achieving other social effect.”
From our point of view, investments should be considered as certain assets which
appear as the objects of civil rights. Assets (lat. Activus - deedful) - resources
- 164 -