THE ROLE AND IMPORTANCE OF TAXES IN THE FORMATION OF STATE BUDGET REVENUES: ANALYSIS OF 2020–2025 USING THE EXAMPLE OF UZBEKISTAN

Abstract

This article analyzes the role of taxes in the formation of state budget revenues using the example of Uzbekistan. As a theoretical basis for the study, international approaches and local scientific views on the fiscal, redistributive and regulatory functions of tax revenues were studied. In the practical part, the dynamics of revenues for 2020–2025 were analyzed based on open data from the budget laws and fiscal strategy documents adopted by the Ministry of Economy and Finance of the Republic of Uzbekistan, the Oliy Majlis. The results show that state budget revenues are expected to reach 345.2 trillion soums in 2025 from 98.2 trillion soums in 2020; tax revenues increased from 92.7 trillion soums to 263.7 trillion soums. During this period, the share of tax revenues in budget revenues remained high, forming a range of 76–94 percent. The analysis shows that improvements in tax administration, expansion of economic activity, and changes in the composition of indirect and direct taxes have a direct impact on budget stability.