LAUSR

Received October 02, 2018 Revised from October 30 23, 2019 Accepted December 02, 2019 Available online March 15, 2019 As globalization unfolds, economic space opens up. The opportunities for investors to choose the most suitable location for their investment are broader. Investors do not orient the investments where it is advantageous in terms of natural conditions, but where it is more favorable tax conditions. This results in global inefficiency. Taxes are not the only decision-making criterion for investors. There are a number of factors and support from the state, which also can attract or discourage investors. The article deals with the issue of the actual corporate tax burden, through average effective tax rates (EATR). There is a presumption, the statutory tax rate is not a reliable indicator of the tax burden. The aim of the article is to analyze tax systems in The Visegrad Group and to find out the actual tax burden, which is defined by effective taxation. The efficiency of taxation was monitored for selected intangible and tangible assets for 2004 and 2018. The analysis focused on Hungary's attractiveness for foreign investors. In the V4 countries, the impact of the change in the statutory tax rate on the change in the effective average rate on capital was assessed. The result is that Hungary is the most attractive country for foreign investors (EATR 10.6%). Next is the Czech Republic (EATR 16.8%), Poland (EATR 17.1%) and the least attractive country is Slovakia (EATR 18.7%). Because of information about effective corporate taxation, it is possible to assess and determine the best position for investing capital. JEL classification: H20, H21, H25 DOI: 10.14254/1800-5845/2020.16-1.15