PECULIARITIES OF FORMING TOTAL REVENUES OF UNITED TERRITORIAL COMMUNITIES IN UKRAINE UNDER CURRENT CONDITIONS OF TRANSFORMING THE SYSTEM OF PUBLIC FINANCES

Abstract

It is determined that in order to strengthen the financial capacity of local budgets in general and budgets of the united territorial communities in particular, it is necessary to increase their resource base, in particular, to fulfill their own authority, to increase sources of income, to expand the list of expenditures. The main emphasis of fiscal policy is the transition to a qualitatively new level of intergovernmental fiscal relations, namely direct intergovernmental relations of the state budget with all local budgets, including those budgets of the united territorial communities. The author’s own interpretation of the definition of «incomes of the united territorial community» — economic relations with regard to the formation of the income base of the united territorial community as the basis of its tax capacity, in particular its own income for the purpose of financial equalization and the growth of financial potential of the capable united territorial communities at the strategic level planning their development. It is proved that in the process of accumulation of revenues in budgets of joint territorial communities common methods can be used — accumulation of income from productive activity, from property and property rights, from resource base, loan method; and special methods - tax, normative, method of redistribution, method of coefficients, emission, forecast. The analysis and estimation of revenues of own revenues of united territorial communities in Ukraine for 2015—2019 in the context of personal income tax, excise tax, land payment, unified tax, and real estate tax are carried out. The positive dynamics of income of local budgets of the combined communities by the changes of tax and budgetary legislation in the context of fiscal decentralization are determined. A number of factors that need to be taken into account in the formation of the revenue base of the budgets of the joint territorial communities in order to increase their financial capacity are proposed: introduction of a fundamentally new approach to financial horizontal territorial equalization in Ukraine; introduction of a new transfer policy; self-formation of local budgets; formation of a single basket of revenues of the general fund of local budgets; financial support for the development of territories; Subvention from the state budget to local budgets for the formation of the infrastructure of the united territorial communities; Identification and realization of the hidden and underestimated financial potential of the united territorial communities. It is substantiated that efficient development of the borrowing market of territorial communities requires the provision of macroeconomic, institutional and regulatory conditions, financial guarantees, a combination of different sources of budget expenditures for the combined territorial communities.