TAX ASPECTS OF FINANCIAL RESOURCES DECENTRALIZATION

The article is devoted to topical issues of socio-economic development of regions through decentralization of financial resources ion terms of reallocation of tax revenue. The methodical approach to modeling scenarios of adjusting the tax component of the regional fiscal policy, which consists of five interrelated sequential steps: setting goals; building a model of adjusting the tax component of the regional fiscal policy; identifying the impact of the factors on developing the financial self-sufficiency of regional development; identifying scenarios of tax revenue reallocation between the budgets of different levels; recording potential risks; developing performance criteria for financial resource decentralization and checking scenarios for their compliance; modeling scenarios; selection of the most rational scenario in accordance with economic, social, and organizational effectiveness. In order to identify the most effective options of adjusting the tax component of the regional fiscal policy the article considers four possible scenario variants: the scenario for 2011-2014 years; the governmental scenario for 2015; two scenarios proposed by the authors in terms of securing a share of national taxes to local budgets. For each scenario it considers the risks and the related losses of budgetary funds: temporary, transactional and corruption risks. To model the scenarios, a simulation model of the regional financial resources dynamics using the example of the local budget of Kharkov in the Vensim medium has been built. Modelling the proposed scenario variants has shown deterioration in the scenario 2 of both the budget dependence coefficient and the level of the budget balance in comparison with the pre-existing conditions in 2014. Improvement in the budget dependence indicator and the balance as compared with the retrospective period is achieved in the fourth scenario under consideration. At that, there is a reduction of the volume and the share of the intrabudget transfers and related losses. Legislative recognition of responsibility for implementing reallocated functions will allow to increase their efficiency.