The role of fiscal planning in the process of forecasting revenues from tax payments in the Republic of Moldova: expectations and achievements

Abstract

Topicality: The need for tax planning is determined by the tax legislation itself, which provides for various tax regimes for specific situations, allows the application of different methods of calculating the tax base and provides some tax facilities for taxpayers, if they work in the areas required by state. In addition, fiscal planning is conditioned by the state's interest in providing fiscal facilities, to encourage the production process, of certain categories of taxpayers, in regulating social and economic development. Tax planning is approached as a tax optimization procedure and defined as the organization of the tax system to achieve maximum financial results at minimum costs. Purpose: The forecast of the revenues of the National Public Budget (BPN) and its components is one of the main elements of the budgetary process. In this process, the basic responsibility lies with the Ministry of Finance (MoF), which prepares forecasts and monitors in relation to them the execution of the component budgets of the national public budget. Along with other authorities, the State Fiscal Service (SFS) also participates in the execution of the stages of the budgetary process, which in turn elaborates forecasts of administered revenues, which it subsequently submits to the Ministry of Finance, and monitors their execution. In this context, the elaboration of forecasts is one of the basic performance indicators of the STS in the field of monitoring accumulations to the budget. The research methods used by the author are: direct and indirect observation of economic reality, to formulate conclusions on this topic, as well as induction and deduction, which are the main components of the economic research process. Another method applied is that of analysis, comparison and synthesis that allowed the formulation of relevant proposals for optimizing the process of forecasting revenues from tax payments. Results: The basic problem of fiscal planning and forecasting is to ensure the qualitative and quantitative parameters of the state budget, based on the elaborated and approved fiscal conception. In the case of fiscal planning and forecasting, not only the fiscal tasks are performed, but also the optimization of the fiscal tactics and strategy regarding the fiscal regulation and control is substantiated. The forecast of revenues to the state budget and local budgets is made according to the objectives of fiscal policy by types of taxes and fees, and their relationship with macroeconomic variables, such as: nominal GDP, inflation, national currency exchange rate, average monthly salary, labor remuneration fund, etc. JEL: H21, H30; H71.