Aydaeva D.Z. Budgetary Process and Taxation Policy: Experience of the Common Law States

Abstract: The author of the article analyzes the role of tax planning plays in the budgetary process of the countries which budget control acts influence the national taxation system in this way or another. Analysis of the mutual dependence of the tax law and the budget law in the countries of Anglo-Saxon legal system allows to understand better how the lawmaker may take into consideration the financial and economic situation in the country and introduce respective measures into the taxation and budget control acts while taxpayers may take into account the scheduled changes in the tax legislation. The methodological basis of the research involves general and specific scientific research methods (the method of comparative law and analytical, dialectic and other methods). In her article Aydaeva describes sources of the foreign tax law and studies the mechanisms of tax regulation at the macro level in the common law states. The importance of the present research is caused by the fact that the researcher studies the disclosure of financial information that can be used during budget preparation as well as how a taxpayer may use this information. The researcher also analyzes the principles of the fiscal policy in the common law states. 

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