MODERNIZATION OF THE MECHANISM OF TAXING THE INCOME OF POPULATION AND BUSINESS IN THE REPUBLIC OF UZBEKISTAN

Abstract

Under current conditions, the necessity of exempting a certain portion of income from taxation in order to ensure the essential living needs of the population is widely recognized. One of the first studies in this field in Uzbekistan was conducted by economist O. Abdurakhmonov in 2003, and although more than twenty years have passed since then, this issue remains relevant today [1]. The scholar interprets non-taxable income not merely as a tax benefit, but as a financial expression of the human right to live. In his view, a person's right to maintain a normal standard of living and satisfy basic material and spiritual needs is guaranteed by legislation and therefore should be taken into account in tax policy. Ignoring this principle may lead to further impoverishment of low-income groups and reduce their economic activity.