THE ROLE OF ACCOUNTING IN TAX POLICY: ITS IMPACT ON ECONOMIC DEVELOPMENT

Аннотация

This article is devoted to the study of the topic "the role of accounting in tax policy: its impact on economic development." The article analyzes the relationship between accounting and tax policy, as well as the importance of accounting information in the fulfillment of tax obligations. Accounting plays an important role in determining the financial condition of organizations and calculating tax payments, which contributes to economic stability and development. The article also reflects on the impact of tax policies on the economic growth and investment environment, methods for assessing the effectiveness of tax regimes through accounting, and how organizations develop tax strategies. International experiments and practices are also considered in order to further deepen the correlation. Keywords: tax policy, financial activity, tax regime, taxpayers, audit, risk, investment. Introduction. Accounting and tax policy are important components of the economic system, the interdependence between which greatly affects the financial stability and development of organizations. Accounting is the process of systematically recording, classifying and analyzing the financial activities of an organization [1]. It shows the economic status of the organization through financial statements. Tax policies, on the other hand, include state-mandated tax laws and regulations that encourage taxpayers to meet their tax obligations. Выпуск журнала №-19 Часть–4_ Февраль –2025 14 MODERN EDUCATION AND DEVELOPMENT Accounting and tax reporting. The information collected through accounting is mainly used to prepare financial statements. These reports, on the other hand, provide the necessary basis for the Tax Report [2]. When organizations do not accurately take into account their income, expenses and other financial indicators, it becomes more difficult to correctly calculate tax liabilities. Accounting information provides transparency for taxpayers and helps them optimize their tax payments. Tax policy is an important element of the state economy. It is necessary for the formation of income of the state and the regulation of economic activity. Through tax policies, the state attempts to achieve goals such as promoting economic growth, attracting investment, and promoting social justice. Accounting, on the other hand, plays an important role in this process, as it provides taxpayers with the necessary information. The relationship between accounting and tax policy is manifested in several ways: 1. Data-based decision - making-data collected through accounting is important in the formation of tax policies [3]. Organizations can analyze their finances and develop tax plans. 2. The effectiveness of tax regimes - with the help of accounting, organizations can evaluate their tax regimes. If accounting is clear and correct, it will help taxpayers to fulfill their obligations. 3. Audit and control-the control of taxpayers on the basis of accounting data is carried out by state bodies. This process ensures compliance with tax laws. 4. Development of tax strategies-organizations can analyze their financial situation through accounting and develop effective tax strategies. This helps to make their economic activities more efficient. Accounting information focuses on the following aspects when fulfilling tax obligations: 1. Accuracy and transparency - accounting information should accurately reflect the financial condition of the organization [4]. This transparency increases taxpayer confidence in the state. Выпуск журнала №-19 Часть–4_ Февраль –2025 15 MODERN EDUCATION AND DEVELOPMENT 2. Report preparation-organizations use accounting information when preparing their financial statements. These reports, on the other hand, must be submitted to the tax authorities. 3. Tax benefits-through accounting, organizations can determine their expenses and income and increase their access to tax benefits. 4. Financial planning-accounting information helps organizations in future financial planning, which leads to the correct calculation of their tax obligations. International experiments show that the correlation between accounting and tax policy ensures effective economic development. In most developed countries, accounting standards are strictly defined to ensure transparency and fairness for taxpayers. For example, the United States has GAAP (Generally Accepted Accounting Principles) Standards that help organizations prepare financial statements and provide the information needed for tax reporting. A number of laws have also been developed in EU countries to strengthen the link between accounting and tax policies. Through these laws, organizations are required to provide their financial information in a clear and transparent manner. Tax policy is an important component of the state's economic development strategy [5]. It serves purposes such as promoting economic growth, attracting investment, and promoting social justice. Through tax policy, the state