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30THE EFFECT OF THE SECRET ECONOMY IN A DAILY LIFE OF THE
SOCIETY
D. R. Najmiddinov
UzMUJF teacher D. E. Shodlikov OzMUJF student https://doi.org/10.5281/zenodo.7376268
Abstract: The hidden economy is discussed in this article along with ways to avoid it, how it affects the state, and how it fits into the global economy. In the article, it is suggested that in order to combat the hidden economy and prevent potential future instability for the state, we should follow examples set by industrialized countries of the globe.
Keywords: The hidden economy, income (direct and indirect), demand theory, and real estate.
The secret economy is the hiding of economic activity from society and the absence of control and reporting by the state, at the same time, the economy is unobservable. and informal is part 5In other words, the underground economy is the economic relations of citizens in a society that bypass the existing laws and rules of the society we can say.
The hidden economy of the economy one part it's a country, it 's a country learned by order not put or not observed and often of the economy development negative effect shows 6.
The activity of the hidden economy creates many different consequences, among which there are positive and negative aspects.
5 " Hidden economy: to him against in fighting main strength business and public ." Act Haitov, Oliy Assembly Legislation chamber Speaker deputy.
6 "THE SECRET ECONOMY AND CONTROL FUNCTIONS OF CUSTOMS AUTHORITIES IN FIGHTING AGAINST IT". Sahadullah Shomirzayev, DBQ Customs Institute " Special legal Department of Sciences head of customs service lieutenant colonel's
Positive effects include:
1. Formation of new jobs in the underground market, i.e. increasing population employment;
2. The national market includes, for example, goods that are prohibited or restricted due to sanctions. Thus, thanks to the hidden economy, consumer demand is satisfied.
However, the negative consequences for both the individual and the state are much greater than the positive ones, they are: (uneven redistribution of income in favor of a small privileged group of the population, thus creating an antisocial environment that leads to a decrease in social welfare; an increase in the budget deficit; population formation of a false sense of well-being among them; worsening of the criminal situation in the country; destruction of the system of centralized management of the economy; degradation of moral values) and others.
Measures taken to reduce the share of the underground economy in the Republic of Uzbekistan consist of the following 5 sections:
1. The experiences of foreign countries were studied. As a result of the study, the negative impact of this economy on these countries was determined. The methods of assessing the hidden economy, widely used in foreign countries, were studied and divided into two categories: direct and indirect. Direct methods are based on direct observations and tax audits, while indirect methods are transactional, currency-based
demand method, the energy consumption method, the difference between cost and income statistics, the difference between official and actual labor force, and the MIMIC model.
2. Work done at the first level. According to the President's Decree No. PF -6098, concessions were given to those engaged in construction, catering, and real estate activities. In addition, commissions and structural structures were established, consisting of the Ministry of Economic Development and Poverty Alleviation, the Ministry of Finance, the Central Bank, the State Tax Committee, and the State Statistics Committee.
3. Implemented measures. Projects such as " Strategy for reducing the share of the hidden economy in 2021-2025 " and "Methodology for assessing the share of the hidden economy" (based on the MIMIC model) are being developed in cooperation with the experts of the World Bank.
4. Measures planned to be implemented by the Ministry of Economic Development. Together with the ministries and agencies, it is planned to develop the system of cashless account books, simplify the taxation system and ensure the equality of the tax burden, improve the competitive environment and liberalize the markets and ensure budget transparency and increase the awareness of citizens.
5. Indicators on the hidden economy. The indicators of the hidden economy in the countries of the world are 8.0% in the USA, 36.5% in Brazil, 21.7% in Spain, 19.5% in Italy, 18.5% in Portugal, 18.4% in Korea, 14.5% in China %, 11.0% in Canada, 10.2% in Germany, 9.6% in Great Britain, 9.0% in Australia, 8.6% in Singapore and 8.1% in Japan. As for the countries of Central Asia (calculations based on the MIMIC model), as of 2019, 52.11% of Uzbekistan, 40.76% of Tajikistan, 36.65% of Kazakhstan, and 30.53% of Kyrgyzstan have exported.
All in all, in our country wide range of actions are taken place to reduce the negative effects of the shadow economy. In my opinion, the actions are reasonable and will show the positive impact in the near future.
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