Assessment and Analysis of the Tax Potential of the Republic of Karakalpakstan

ABSTRACT

The article discusses the prospects for increasing the tax potential of the Republic of Karakalpakstan based on the analysis of methods for assessing the tax potential of the region. In particular, an effective budgetary-tax system is reflected in the structure of state budget revenues, as well as ongoing reforms in the sectors of the economy in the regions and changes in world prices for raw materials. In this, the author notes the impact of coronavirus on the economy of Uzbekistan. That is, during the global coronavirus pandemic, the implementation of preferential and other measures provided for certain sectors of the economy and business in the country had a negative impact on the mobilization of budget revenues in 2020. However, the essence of these benefits provided on the basis of a number of important decrees and resolutions of the President of the Republic of Uzbekistan to mitigate the negative impact of the crisis on the economy and stimulate the real sector of the economy through taxes is highlighted. In this regard, a deep analysis was carried out with information on the results of the work done in the Republic of Karakalpakstan on the above in the context of the regions of the region. From the above, the author carried out a comparative analysis of the effectiveness of the results of the representative tax system method with the factual (additive) method widely used in international practice for assessing tax potential. The effectiveness of the results of tax revenues is based on a static state and the economic efficiency of the representative tax system method in the formation of budget revenues of the Republic of Karakalpakstan has been proven. The author proposes the application of the representative tax system method to increase the tax potential of the local budget of the Republic of Karakalpakstan in the future. Copyright © 2022, Anka Publishers. All rights reserved.