Main Directions in Improving State Budget Policy Yarmatov Sharofiddin Choriyevich

Figure 3. The state in 2019-2020 the main types and amounts of taxes in the budget in percent.

In 2019, resource payments accounted for 17% of the total tax structure, while in 2020 this figure is expected to fall to 1%. Indirect taxes play an important role in the state budget of the Republic of Uzbekistan, as well as in the consolidated state budgets. In 2020, as well as in 2019, indirect taxes are projected to account for a large share, but the expected volume may not give it, due to the non-receipt of tax revenues in the amount expected to remain stable due to the epidemic, the reduction of excise revenues from customs control leads to a decrease in its share. In 2019, direct taxes were 28 percent, and by 2020, the figure has risen to 32 percent. Of course, the new tax code will have an impact on this.

In particular, after the adoption of the Tax Code, 500,000 people who receive a monthly salary on the basis of an envelope salary are legally registered and voluntarily pay income tax. Other revenues are considered to have a small share in the state budget. Other revenues are expected to be 10 percent in 2019, compared to 10 percent in 2019. We can see a decrease in interest rates compared to last year, but the amount of tax may be higher than last year's sum.

The composition of budget revenues is active and depends on certain economic conditions. For example, in economically strong countries, the basis of tax revenues is the income of individuals, in countries with low living standards, indirect taxes and taxes on legal entities. We can see this process in the Republic of Uzbekistan. Indirect taxes form the basis of budget revenues in the country. This formation of budget revenues can also be used as a specific indicator, that is, it is possible to determine the economic level of the country depending on the amount of budget revenues. In the diagram below, we can see the practical proof of the above, that is, the tax burden in the Republic of Uzbekistan and developed countries.

(Figure 4)
32,3 29,4 29,4 29,8 34,15 30,5 43,1 43,6 46,7 48,3 20

USA Estonia Bulgaria Greece Russia Latvia Finland Italy Sweden Denmark Uzbekistan

(The diagram is made by the author on the basis of the dissertation of Adizov Sanjar Rashidovich)