This article analyzes the issues of ensuring economic stability through the state budget and taxes. The study examined fiscal indicators, the dynamics of budget revenues and expenditures, and their ratio to GDP. Structural changes in the tax system, the expansion of the tax base, and the intensification of digitalization processes were identified as important factors influencing economic stability. Analysis of the effectiveness of budget expenditures revealed the highest effectiveness of infrastructure projects and the need to increase efficiency in the healthcare and education sectors. According to the research results, the state fiscal policy is one of the main mechanisms for strengthening economic stability, and in the future, it is necessary to deepen reforms in the areas of reducing the deficit, optimizing expenditures, and increasing social effectiveness

The article analyzes the methodological significance of fiscal governance instruments in reducing and legalizing the shadow economy. Tax policy optimization, the wide implementation of fiscal digitalization, and ensuring transparency in budgetary processes are assessed as the main directions for formalizing informal activities. Based on the analysis of international experience, scientific and practical recommendations tailored to the conditions of Uzbekistan are developed.

This article provides an in-depth analysis of the institutional-fiscal transformation of Special Economic Zones (SEZs) and their strategic role in innovative development. Drawing on both global and national experience, it examines the theoretical foundations of SEZs, tax and customs preferences, cluster-based economic models, digital infrastructure, and the integration of green technologies. The study explores the genesis of SEZ development, their central role in economic liberalization policies, and their position within international integration processes. It highlights that beyond tax incentives, key determinants of SEZ effectiveness include transparent governance, institutional coherence, the formation of innovative production clusters, and the development of skilled human capital. Ultimately, SEZs are positioned not only as tools for attracting investment but also as drivers of technological independence, economic sovereignty, and enhanced global competitiveness.

This article analyzes the relationship between poverty levels, government expenditures, and GDP per capita in Uzbekistan. The study applies trend analysis based on statistical data and conducts a comparative analysis with Central Asian countries. The results show that economic growth and socially oriented fiscal policy are important factors in reducing poverty. At the same time, it is found that the effectiveness of fiscal policy depends on the structure and allocation of government expenditures. The findings are important for developing effective economic policy measures aimed at poverty reduction

This article analyzes the compliance of fiscal reforms implemented within the framework of the “Uzbekistan – 2030” strategy with the principles of inclusiveness. The study examines the role of tax policy in ensuring a balance between economic efficiency and social justice based on James Mirrlees’ optimal taxation theory and contemporary empirical data. The article evaluates the macroeconomic impact of changes in the 2025 Tax Code, particularly the progressive social tax rates and mechanisms for legalizing the shadow economy. The results indicate that Uzbekistan’s tax system, while maintaining fiscal stability, is transitioning toward an inclusive model aimed at developing human capital and mitigating income inequality

This article analyzes the relationship between the retirement age and demographic and macroeconomic factors within the pension system of Uzbekistan. The purpose of the study is to justify the need for reforming the retirement age and to assess its impact on fiscal sustainability. The study employs statistical and comparative analysis methods, calculation of the demographic dependency ratio, and formulas describing the relationship between insurance service length and the pension payment period. The results indicate that population aging and increasing life expectancy intensify long-term fiscal pressure on the pension system. Imbalances among current parameters may negatively affect system stability. The calculations confirm that a gradual increase in the retirement age, expansion of the minimum employment period, and diversification of insurance contributions strengthen the financial sustainability of the system

This article analyzes the “Business Entity Stability Rating” system implemented in Uzbekistan as part of efforts to enhance digital fiscal governance. The evaluation process is based on automated algorithms that assess legal entities through indicators such as tax discipline, financial transparency, documentation accuracy, and social responsibility. The study examines the correlation between rating indicators and actual economic performance, highlights sectoral and regional disparities, and explores methodological differences with the “CRM-NEW” monitoring system. Using the Kruskal–Wallis H test, a statistically significant relationship is identified between rating categories and tax risk levels, supporting the reliability of the assessment framework. The paper concludes with conceptual and practical recommendations for improving the rating mechanism.

This article is dedicated to reflecting the significance of fiscal policy instruments in the development of the green economy in various countries. Analyses have been conducted on different types of fiscal tools in green financing systems of countries, and information is provided on their importance for sustainable development. Comments are given, and conclusions are drawn based on the development trends observed over past periods. As a result of the analysis, proposals and conclusions have been formulated for Uzbekistan's economy.

Institutional and legal reforms aimed at increasing financial transparency in the Republic of Uzbekistan are analyzed. In recent years, the country has been implementing a number of measures to ensure the openness of public finances, strengthen citizen participation in the budget process, and increase transparency by digitizing the tax and expenditure system. This study assesses the main directions of these reforms, their effectiveness, and compliance with international standards (for example, the IMF's fiscal transparency criteria, PEFA indicators).

This article analyzes the methodologies for managing the financial resources of local budgets in the context of regional socio-economic development. First, within the framework of fiscal centralization and decentralization principles, it examines local budgets’ independent revenue sources, share-based taxes, and the mechanism of transfers allocated from the central government. Next, based on the principles of medium-term budget planning, ensuring budget balance, and performance-oriented budgeting, it presents methods for effective on-site resource allocation. Furthermore, by enhancing participatory budgeting and public involvement, the study explores how transparency and control over local financial resource use are strengthened. The article also discusses approaches to reducing socio-economic disparities between regions through general (free) transfers, the subvention-grant system, and horizontal equalization instruments. Additionally, it investigates the impact of tax reforms, investment financing, and risk management methods on the sustainability of local budgets. The research concludes with practical recommendations for improving local budget management methodologies—introducing a formula-based transfer mechanism, expanding interactive budget portals, and enabling the issuance of local bonds. Based on applied research and official statistics, the article aims to identify effective tools for financing regional development strategies.

This scientific article discusses the theoretical foundations of resource taxation, its economic essence and role in ensuring the stability of the state budget. The study analyzes theoretical approaches to the taxation of natural, financial and human resources, their impact on economic efficiency and their significance in fiscal policy. It also examines the stages of development of the resource tax system, the principles of their establishment and the scientific basis from the point of view of economic theories - classical, neoclassical and institutional approaches. The results of the study show the possibilities of financing state socio-economic development programs, rational use of natural resources and ensuring environmental sustainability through resource taxes.

This article analyzes the sovereign credit rating of the Republic of Uzbekistan based on the methodology applied by S&P Global Ratings. The study examines macroeconomic stability, fiscal discipline, public debt dynamics, external sector indicators, and gold-foreign exchange reserves as the key factors influencing rating formation. The results of the statistical data analysis show that high economic growth rates and the significant volume of reserves support the country’s credit rating. At the same time, the high share of external debt, the deficit of the balance of payments, and global risks remain important constraining factors for rating stability.

This article examines the scientific foundations of the methodology for determining the value added tax base on a margin basis. It analyses the substance of the margin approach introduced in Uzbekistan from 2026, its legal and methodological foundations, as well as the main practical problems and ways to address them. The study proposes the necessary conditions for the effective application of the margin-based tax base, an algorithm for VAT calculation, and a five-criteria filter for extending this approach to other segments. It also discusses the experience of the European Union and the United Kingdom, focusing on fiscal neutrality, documentation discipline, and control indicators in the application of the margin scheme. The article develops conclusions and proposals aimed at the scientifically grounded improvement of the margin-based VAT base methodology in Uzbekistan

This article develops an econometric model for determining regional tax potential. Based on statistical data for the regions of Uzbekistan for 2016–2024, a multifactor regression model was built, in which the impact of economic (GDP, investments), demographic (population, urbanization), financial and institutional factors on tax revenues was quantitatively assessed. Multicollinearity was optimized using correlation analysis and the VIF indicator, and the model reliability was confirmed at the level of R²=0.87. A forecast of regional tax revenues for 2025–2027 is presented based on three scenarios - base, optimistic and pessimistic. The results provide a practical basis for the formation of regional fiscal policy and the effective allocation of inter-budget resources

This article focuses on further reducing the negative impact on the competitiveness of the republic's economy by gradually reducing the monopoly in the commodity and financial markets, increasing the efficiency of the system of giving benefits and preferences, as well as reducing the legislative regulatory system. burdening economic entities implementing tax administration and fundamentally improving the mutual cooperation of taxpayers in the fulfillment of republican tax obligations.

This article examines the economic essence of taxes and their role in the formation of state budget revenues. The economic content of taxes, their functions, and the theoretical foundations of tax relations are analyzed based on the scientific views of domestic and foreign scholars. The study also highlights the importance of taxes in ensuring budget revenues, the interrelationship between the interests of the state and taxpayers, and issues related to improving tax policy. As a result of the research, scientific and practical recommendations aimed at ensuring the stability of budget revenues and enhancing the efficiency of the tax system have been developed

This article scientifically examines the importance of taxing income earned by self-employed individuals in the formation of budget revenues. In particular, the study substantiates the need to introduce the obligation for self-employed individuals to issue invoices to buyers in the process of selling goods and services. This mechanism is aimed at ensuring transparency in income accounting, reducing hidden turnover, and expanding the tax base. The article demonstrates that the proposed mechanism contributes to improving the efficiency of tax administration, ensuring the stability of budget revenues, and reducing the share of the informal economy. In addition, the article develops scientific and practical proposals for expanding digital accounting and electronic documentation practices in the activities of self-employed individuals

This article analyzes the role and importance of tax incentives in ensuring the stability of tax policy, analyzes the benefits provided by the types of taxes currently in force in our country, and also studies their impact on budget revenues. Scientific and practical proposals and recommendations are presented to increase the effectiveness of tax incentives

The article is devoted to the study of the impact of tax audit measures on the budget system, analysis of their effectiveness, and development prospects. The article discusses the main goals and objectives of tax audits, and their positive and negative consequences for the budget. Particular attention is paid to the impact of tax audits on increasing tax revenues, improving tax discipline, and combating the shadow economy. The article also discusses problems associated with high administrative costs, possible negative impacts on the business climate, and risks arising from ineffective inspections. Current trends in the field of tax control are analyzed, including process automation and the use of big data analytics technologies. In conclusion, key areas for improving the tax audit system are highlighted, such as digitalization, improving the qualifications of tax inspectors, and creating a more transparent system of interaction with taxpayers. The article provides recommendations for optimizing tax audits in order to increase their efficiency and the sustainability of the budget system.

This scientific article discusses the concept of tax policy and its importance as an important component of state policy. The concept of investment climate attractiveness and the internal and external factors influencing it are considered. Tax policy is one of the main factors of investment attractiveness. The article studies theoretical approaches to the relationship between tax policy and the investment climate.

This article presents a comprehensive analysis of the state and structure of the government securities market in the Republic of Uzbekistan during the period 2018–2024, focusing on demand and placement trends. Government bonds are considered a key element of the financial system and play an important role in mobilizing both domestic and foreign investment resources. Particular attention is given to identifying institutional and structural constraints hindering the full development of this financial market segment. These include the limited range of available debt instruments, low liquidity in the secondary market, a predominance of short-term bonds, and the absence of flexible instruments such as floating-rate bonds. The study argues that the establishment of a fully functional, multi-level infrastructure for the circulation of government bonds requires the introduction of innovative instruments, including indexed, "green," and social bonds, which could enhance the sustainability of budget financing and strengthen the investment climate. It concludes that the development of the government bond market is of strategic importance for ensuring budgetary stability and increasing the transparency of public debt policy.

This article covers the economic content of tax capacity, the laws of its formation and its strategic role in the tax system. During the study, the factors affecting tax capacity were analyzed and the importance of this indicator in stabilizing state budget revenues was substantiated. Also, ways to ensure the country's economic growth by expanding the tax base and increasing tax collection were considered. The article is intended for specialists interested in improving tax policy and optimizing the tax burden

This article analyzes the role and importance of tax incentives in ensuring the stability of tax policy, as well as the types and revenues of tax incentives currently applied in our country with the aim of improving their effectiveness. In addition, the impact of tax incentives on budget revenues is examined. Sectoral analyses of tax incentives are presented, along with scientific and practical proposals and recommendations for increasing their effectiveness

This article is devoted to the analysis of advanced foreign experience in organizing mechanisms to combat tax evasion on the example of France. It examines the main aspects of the French tax control system, including digitalization, international cooperation, risk-based approach and accountability measures. The prospects for applying this experience to national tax systems in order to increase the effectiveness of fiscal policy are studied.

This scientific article analyzes the role and importance of tax policy in ensuring the attractiveness of the investment environment from a scientific, theoretical and practical perspective. The stability, transparency of the tax system, the level of the tax burden and the impact of tax incentives on investment activity are studied. The possibilities of using incentive mechanisms of tax policy in the decision-making process of investors are also highlighted. The role of tax reforms implemented in the Republic of Uzbekistan in recent years in improving the investment environment is analyzed, and scientific and practical conclusions and proposals are developed to increase the efficiency of attracting investments by improving tax policy