On The Prospects Of The System Of Taxation Of Income Of Individuals

Abstract

Based on the implementation of the objectives of the concept of improving the tax policy and additional measures to modernize the tax system in the Republic of Uzbekistan, the article examines the current state of the practice of taxing personal income, its problems and controversial issues, and also considers ways to increase its effectiveness.

The concept of social economy, applicable at all stages of the development of human society, proceeds from the need to improve the well-being of people and prevent the growth of poverty and deprivation. Therefore, the reforms carried out in our country are based on the goal of conducting a flexible tax policy in relation to the income of the population, which is aimed at raising wages at each stage of market reforms, applying a policy of maximum taxation depending on the amount of income, strong social protection and increasing the amount of transfer payments. low-income population.

Indeed, it is important to encourage the improvement of the living conditions of the population through the tax mechanism, providing employment, a further increase in their income and guaranteeing a constant increase in the value of their property and assets.

In this regard, the most important conditions are "Consistent reduction of the tax burden, simplification of the taxation system and improvement of tax administration, rapid development of the economy and increasing the country's investment attractiveness." At present, the increased importance of ensuring fuller and more efficient employment of the population, further increasing its income, ensuring a constant increase in the value of their property and assets indicates the need to improve the practice of taxing the income of individuals in the Republic of Uzbekistan.

At the same time, the article discusses the conceptual foundations and criteria for the economic efficiency of managing the practice of taxing the income of individuals at the present stage of economic liberalization and modernization in the Republic of Uzbekistan. The questions of the conceptual basis of levying taxes from individuals in the perspective of the country's socio-economic development are considered. In the tax system of the Republic of Uzbekistan, the possibilities of improving the mechanism for levying taxes on the income of individuals have been studied and recommendations have been developed.