In article the peculiarities of the value based management (VBM) powerful strategic tool are reviewed. The focus on strategic planning has been one of the hallmarks of managing for value. The mechanism of process creation and support of competitiveness based on value is analyzed. Problems of industrial enterprise tax system improvement are discussed. Taxation system without value added tax, profit and unique social taxes is suggested. Enterprise functioning model is used for demonstration of efficiency of tax system based on material costs, equity and natural persons' revenues taxes.