THE METHODOLOGICAL BASICS OF SHAPING LOCAL BUDGETS REVENUES UNDER CONTEMPORARY CONDITIONS
Abstract
The methodological foundations of shaping the local budgets revenues under contemporary conditions are revealed. The principles of the fiscal policy’s implementation are defined, and the component composition of local budgets revenues, in particular regarding the local taxes and the inter-budgetary transfers, have been determined as well. The implementation of the principles, namely fiscal sufficiency, social justice, overall economic efficiency, sustainability, consistency, and neutrality of local taxation in relation to the competitiveness of economic agents is proposed. The idea that the local budget revenues (considering the relevant periods) should be sufficient to cover the costs associated with the respective budget system’s hierarchical level has been substantiated. The potential of self-government institutions to optimize the fiscal space’s parameters is disclosed. The harmonious coordination of the territorial communities’ inhabitants’ interests throughout the support of the taxpayers’ financial and economic efficiency as well as the elimination of the social gaps and the population’s excessive stratification are identified as the fiscal policy’s priorities. The methodical approaches to the property taxes payment are proposed. The measures aimed at strengthening the local budget revenues should be associated with filling out the respective databases with information on the objects of local taxation. The necessity to refine the local budgets revenues collection system in terms of the territories’ economic inequalities minimization and provision of the incentives for the depressed regions is highlighted. The planning algorithm for the local budgets revenues, regarding the priorities of the National Revenue Strategy until 2030, is developed. The local budget revenues’ forecasting and planning procedures should take the retrospective financial dynamics, the analyses of systemic miscalculations, and the expert assessments of the fiscal regulation’s efficiency into account. The list indicators to estimate the territorial communities’ financial capacity has been expanded. The conceptual model for the local budgets tax revenues forecasting is proposed.
References
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