Improving Fiscal Policies: Evolution or Revolution?

Abstract

Fiscal policy is one of the weighty instruments of state regulation and is intended to ensure the creation of an institutional environment to reach the strategic objectives of sustainable development. This chapter is devoted to the study of the implementation of tax reform in Belarus. It analyzes the place of tax instruments in economic growth and investigates the strategic direction of tax reforms. The actual tax policy in Belarus is determined by the requirements of the national strategy of sustainable development which aims to ensure a stable financial basis for the development of society, economy, and environmental management. The historical and economic conditions of Belarus require an assessment of the local peculiarities of the use of tax instruments, which are now in force in leading countries. Therefore the study of foreign experience is complemented by an analysis of local conditions. Tax policy must ensure and support changes in national economies related to globalization, informatization and digitalization of the modern world, while maintaining the ideas of social justice. As a theoretical and practical tool for improving the quality of the tax system through the modernization of the incentives system, the concept of tax expenditures as a part of the budget process was investigated.

Citation

Kireyeva, A. and Loukianova, I. (2019), "Improving Fiscal Policies: Evolution or Revolution?", Sergi, B.S. (Ed.) Modeling Economic Growth in Contemporary Belarus (Entrepreneurship and Global Economic Growth), Emerald Publishing Limited, Leeds, pp. 289-305. https://doi.org/10.1108/978-1-83867-695-720191019