LEGALIZATION OF THE SHADOW ECONOMY THROUGH FINANCIAL MECHANISMS IN UZBEKISTAN

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Published: Nov 16, 2024
Keywords:
legalization, shadow economy, financial mechanisms, tax reforms, Uzbekistan, digitalization, transparency, entrepreneurship.

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Koshanov Abdimurat
Independent Researchers Karakalpak State University
Maulenberganova Husnida
Student, 2nd Year, Berdakh Karakalpak State University

Abstract

The shadow economy in Uzbekistan significantly impacts macroeconomic stability, the tax base, and entrepreneurial development. This article analyzes financial mechanisms aimed at legalizing the shadow sector, including tax reforms, simplification of financial reporting, promotion of digitalization, and process automation. Special attention is given to international experience and its application in the context of Uzbekistan. The study offers recommendations to minimize the negative effects of the shadow economy on the national economy.

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How to Cite
Koshanov Abdimurat, & Maulenberganova Husnida. (2024). LEGALIZATION OF THE SHADOW ECONOMY THROUGH FINANCIAL MECHANISMS IN UZBEKISTAN. Galaxy International Interdisciplinary Research Journal, 12(11), 105–107. Retrieved from https://internationaljournals.co.in/index.php/giirj/article/view/5998
Issue
Vol. 12 No. 11 (2024): GIIRJ
Section
Articles
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This work is licensed under a Creative Commons Attribution 4.0 International License.

References

World Bank. "Tax Administration Reforms: Successful Cases from Central Asian Countries." 2023.

Committee on Statistics of the Republic of Uzbekistan. "Trends in Economic Legalization: Report for 2022."

Kaplanov R.R. "Digital Economy and Its Role in Reducing the Shadow Sector." Tashkent, 2023.

Organisation for Economic Co-operation and Development (OECD). "Transparency Tools in Tax Regulation."