In this paper, we investigate the necessity of personal income tax reform of individual persons. The critical analysis of the main arguments toward a single tax rate is based on the empirical data. In a result of current research it is found that despite an increase in tax revenues the role of tax in the consolidated budget of a country is low and it does not justify its fiscal importance. The growth in monetary income and simplification of procedures of tax management does not contribute to differentiation in revenues and their legalization has still remains unchanged. It was concluded that the single tax rate keeps a stable inflow of tax receipts to the state budget, however, it does not provide realization with the principle of equity of taxation to the full extent. These circumstances give grounds to a gradual return to assessment scale in taxation to provide extra revenues for the government budget and reduce tax pressure on social strata.