Main Directions in Improving State Budget Policy Yarmatov Sharofiddin Choriyevich

2019

Revenue Cost balance

121823 129626 -7803

2020

Revenue Cost balance

149979 153982 -4003

2021

Revenue Cost balance

182742 182492 250

2020

Revenue Cost balance

149979 153982 -4003

2021

Revenue Cost balance

182742 182492 250

(The diagram is based on statistics by the author)

Figure 2. State budget forecasts for 2019-2021.

If we look at the following forecasts, in 2019 there was a deficit in our budget system, according to which there are -7803 billion soums of unpaid expenditures. In 2020, this figure is expected to fall slightly to -4003 billion by the end of the year. However, due to current social processes, this figure may increase. This is due to the negative effects of the COVID-19 virus, which is spreading around the world. The temporary shutdown of manufacturing enterprises, the tendency of customs revenues to reach zero, as well as the fact that employees of budgetary organizations do not receive a monthly salary due to holidays, and as a result, the reduction of income taxes will certainly have a negative impact on the state budget. . The forecast for 2021 is very exciting for us. The state budget is projected to show a surplus from 2021. [10]

Tax policy should ensure a steady flow of tax revenues without compromising the country's economic situation and international competitiveness [8]. Taxes are also an important part of the state budget and are mandatory payments made by state or local authorities in a predetermined amount to meet public needs [9]. As a result of the implemented conditions, the tax system in our country is improving. The adoption of the new tax code, of course, provides a great opportunity for entrepreneurs and investors, as well as a significant increase in state budget revenues. Let's focus on the structure and amount of taxes in the budget for 2019-2020: (Figure 3)

(The diagram is based on statistics by the author)

2020 year

16%

45%

32%

7%

Resource feesand propertytaxes

Indirect taxes

Direct taxes

2019 year

Resource feesand propertytaxes

Indirect taxes

Direct taxes