Usmanova Mukhlisa Sagdullayevna
Tashkent Financial Institute,
Department of Taxes and taxation ,
Acting Professor, Candidate of Economic Sciences
Abstract. Rapidly increasing the real income of the population in Uzbekistan and increasing the amount of income at their disposal is a very important and urgent issue facing the state. As a result of fundamental reforms carried out over the past years, the gross domestic product of our country is growing, and in turn, the real income of the population is increasing. The role of income taxation mechanism is very significant in this matter. Personal income tax is the main source of income of the state budget, and the scientific analysis of its calculation and collection mechanism is a very important necessity and one of the controversial issues. It is known that personal income tax is the main direct tax on the income of individuals with taxable income. The reason why the fiscal importance of income tax is not increasing is that there are no specific mechanisms for taxation of individuals who are self-employed and earn income through various sources, incomes found outside the source of payment are not fully covered by tax authorities, taxation of individual entrepreneurs exists only in some countries of the world (CIS countries), the fixed amount of income tax is still applied nowadays and there is a complete exemption from income tax for persons who are self-employed and are members of a trade union, engaged in certain business activities, regardless of the amount of income they earn. In general, the fact that the mechanism of taxation of all citizens with a source of income has not been developed, it is not strengthened by legislation and there is no minimum amount that is not taxed and the fact that incentive instruments are not used in the declaration of income to the tax authorities are obstacles to the comprehensive and fair taxation of personal income tax. In this article, taking into account the above, the structure of the population’s income and their taxation in our country is analyzed in detail.
Key words: taxation mechanism, the principle of fairness (“equality”) of taxation, tax incentives, tax burden, income from property rental, standard deductions, tax rates.