About inevitability of budgetary code receiving for fiscal politics

Since the end of 90s till today when all the elements confirming Georgian State System have practically been established, budget system and policy remains as the most difficult Georgian macroeconomics challenge and even still half-and-half unsolved problem. One side of the fiscal policy is quite crucially formulated and administrative Tax Code, and the other side is the weak, unmanaged and incomplete law on Budget System. According to the above-mentioned the elaboration and adoption of the Budget Code having equal force as Tax Code is necessary by which the following are to be determined: excellence of government responsibility when it will not perform the budget obligations specified by the law permanently; the rights and responsibilities of the state, the optimal distribution of the funds mobilized by the tax towards each member of the society. For optimization of the budget system effective correlation between the state, regional and local budgets revenues and expenditures is particularly important as the social-economic development of the regions and territorial units of the country is impossible without the financial relations. For it the just differentiation of tax base in the section of state, regional and local budgets and transfers system for support of the budgets of the territorial units from the central budget are necessary. Solving the most part of these problems is possible by the adoption of the budget code which, in our opinion, is to be considered as the closest decisive task for the current legislative and executive authority.

Specifics of formation tax revenues and ways to improve it in Georgia

In the research there is reviewed the peculiarities of the formation of tax revenues of the state budget, analysis of the recent past and present periods of tax system in Georgia, there is reviewed the influence of existing factors on the revenues, as well as the role and the place of direct and indirect taxes in the state budget revenues. In addition, the measures of stimulating action on formation of tax revenues and their impact on the state budget revenues are established. At the final stage, there are examples of foreign developed countries, where the tax system is perfectly developed, where various stimulating measures are successfully stimulating and consequently it promotes mobilization of the amount of money required in the state budget. The exchange of foreign experience is very important for Georgia, the existing tax model that is based on foreign experience is greatly successful. For the formation of tax policy, it is necessary to take into consideration all the factors affecting on it, a complex analysis of the tax system and the steps that will be really useful and perspective for our country.