TAX POLICY AND ITS IMPORTANCE IN MODERN ECONOMIC DEVELOPMENT
Abstract
Tax policy represents one of the most important instruments of economic governance used by governments to regulate economic activity, generate public revenues, and promote social welfare. This study analyzes the economic significance and functions of tax policy in modern economic systems with particular attention to fiscal reforms and taxation mechanisms in the Republic of Uzbekistan. The research examines the theoretical foundations of tax policy, its fiscal, regulatory, distributive, and stabilizing roles, and its impact on economic development and macroeconomic stability. The study is based on the analysis of the Tax Code of the Republic of Uzbekistan, national fiscal policy documents, and academic literature on taxation and public finance.