Prospects for Increasing the Income of Local Budgets Based on Foreign Experience

Abstract

The article describes the procedures for the formation of revenues of local budgets in the countries of the world, the scientific and practical basis of regulating the revenues of local budgets based on the experience of foreign countries. In the practice of foreign countries, the role of the state and local government authorities in solving the financial problems of local governments is thoroughly analyzed, the features of local government models are revealed, and the prospects for increasing the stability of local budgets' incomes and the possibilities of ensuring the stability of local budgets' incomes are based. On the basis of foreign experience, practical recommendations have been developed to achieve stability of local budget revenues.