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The System of Formation of Budget Revenues as a Component of Budget Policy
Vatulov A. V.

Vatulov, Andrii V. (2024) “The System of Formation of Budget Revenues as a Component of Budget Policy.” Business Inform 11:213–221.
https://doi.org/10.32983/2222-4459-2024-11-213-221

Section: Finance, Money Circulation and Credit

Article is written in Ukrainian
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UDC 336.14

Abstract:
The article is aimed at revealing and conceptualizing the theoretical and methodological foundations of the system of formation of budget revenues as a component of budget policy. The article analyzes modern domestic and foreign publications on relevant scientific issues. The essence of the system of formation of budget revenues as a component of budget policy is revealed and conceptualized. The elemental composition of budget revenues is determined, the fundamental importance of the tax component of budget revenues is emphasized. The instruments of tax regulation of socioeconomic development are studied from the standpoint of the influence of its elements on economic behavior and the commitment of taxpayers to invest in human or physical capital with the allocation of categories of distortional taxes and non-distortional taxes. The methodological principles of preparation and implementation of tax policy measures are determined, based on the principles of stability, prudence and predictability, which makes it possible to achieve a balance of interests of the authorities and taxpayers. It is proved that the efficiency of the system of formation of budget revenues as part of the budget policy depends on the level of fiscal burden and the structure of taxation. The level of tax burden in 27 countries of the European Union and in Ukraine in the period 2014–2023 is analyzed. The impact of tax measures to stimulate investment flows on the dynamics of household savings and the strategic competitiveness of national economies is revealed. Four typical modes of application of the instruments of tax regulation of socioeconomic development are analyzed. The expediency of structural modernization of the economy to attract foreign investments is determined. The specific features of the process of implementing fiscal decentralization and its prospects in the context of the formation of financially viable territorial communities are disclosed. The priority of compliance with the principle of the rule of law and unconditional protection of property rights, the formation of stable and understandable budget and tax legislation, efficient communication between the authorities and the entrepreneurial sector is determined.

Keywords: budget policy, tax policy, budget revenues, tax burden, taxation structure, economic growth.

Fig.: 1. Bibl.: 18.

Vatulov Andrii V. – Candidate of Sciences (Economics), Associate Professor, Candidate on Doctor Degree, Department of Finance, State University of Trade and Economics (19 Kіoto Str., Kyiv, 02156, Ukraine)
Email: [email protected]

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