Tax revenues in the system of budget revenues formation

  • Valentyna Makohon Kyiv National University of Trade and Economics
Keywords: state finances, taxes, tax system, fiscal policy, budget


Relevance of research topic. Taxes play a significant role in the system of state regulation of the country's economic development. The cyclicality and dynamism of economic processes necessitates the adaptation of the tax regulation mechanism to changes in financial and economic conditions. It is important to timely and carefully assess the impact of taxes on social production, its dynamics and structure. Budget and tax policies should be mutually consistent with the strategic objectives of economic transformation, aimed at creating the proper conditions for deepening the interaction of the state and society. Formulation of the problem. In the context of economic transformations, the important task is to change the approaches to fiscal policy in terms of improving the tax system's tax structure, which are budget-forming components, which requires further scientific research into the theoretical and applied aspects of administration of tax revenues in the system of forming the revenue part of the budget. Analysis of recent research and publications. The problem of the formation of tax revenues and their impact on the market equilibrium is quite widespread in scientific research. These are works by well-known domestic and foreign scholars: J.J. Buchanan, W. Mitchell,  J. M. Keynes, T. Bogolyub, I. Zapatrina, L. Lisyak, I. Chugunova and others. Identification of unexplored parts of the general problem. The above issues are updated in connection with the strengthening of globalization processes, the adverse external and internal economic environment, which requires the solution of a number of specific tasks related to determining the level of tax burden in such a way as to achieve a balance between budget expenditures and its revenues and the processes of revival of business activity were not restrained, the level of growth of the shadow sector of the economy did not deepen. Setting the task, the purpose of the study. The objectives of the study are: the disclosure of the role of taxes in the state regulation of economic development of the country, the analysis and assessment of tax revenues in the system of budget revenue formation. The purpose of the research is to substantiate the priority tasks of the fiscal policy on the formation of tax revenues, and to improve their architectonics in the context of institutional transformations. Method or methodology of conducting research. The article uses a set of methods of scientific research: system approach, statistical analysis, structuring, analysis, synthesis, and others. Presentation of the main material (results of work). The role of taxes in the state regulation of economic development of the country is determined. The analysis and estimation of tax revenues in the budget revenue generation system was carried out. The priority tasks of fiscal policy concerning formation of tax revenues, improvement of their architectonics under the conditions of institutional transformations are substantiated. The field of application of results. The results of this study can be applied in the process of formation and implementation of Ukraine's fiscal policy. Conclusions according to the article. The role of taxes in the system of state regulation of economic processes is ensured by their influence on social production, its dynamics and structure. Ensuring the stability of budget revenues and fiscal adequacy involves developing an effective concept for the development of the tax system, based on realistic forecasts of socio-economic development of the country; assessment of the tax potential of administrative and territorial units. The starting base for the formation of the revenue part of the state and local budgets is the rational allocation and consolidation of specific tax revenues. The system of tax regulation should be based on a clear combination of legally established mechanisms for the establishment, collection and redistribution of tax revenues between budgets of different levels. The article defines the strategic priorities of the fiscal policy in relation to the formation of tax revenues in the budget revenue generation system.


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Author Biography

Valentyna Makohon, Kyiv National University of Trade and Economics

Doctor of Economic Sciences, Senior Researcher Associate Professor of the Department of Finance

How to Cite
Makohon, V. (2019). Tax revenues in the system of budget revenues formation. University Economic Bulletin, (41), 188-195.
Finance, Monetary Circulation and Credit