Abstract
The study highlights the importance of the processes of institutional modernization of public finances in Ukraine in the context of digital transformation. The objective of this research is a thorough assessment of the institutional updating of Ukraine’s public finances within digitalization and open data deployment, along with justifying pathways to boost public finance clarity, budget process efficacy, and tax administration, especially when dealing with large businesses, to ensure the nation’s continued advancement. Throughout this scholarly inquiry, general scientific techniques were employed, notably analysis and synthesis to uncover the core of public finance institutional modernization, a systematic framework to examine the connections between budget and tax system components, comparative evaluation to pinpoint global methods of public finance digitalization, as well as induction and deduction to formulate conclusions about how open data and digital tools affect public finance management effectiveness in Ukraine. The core concepts of the public finance system operation are disclosed. The present condition of public finances in Ukraine is examined. The extent of digitalization of government financial bodies and the measure of information system deployment in the budget procedure are investigated. The specifics of tax administration digitalization, notably for major taxpayers, are scrutinized. The effect of public finance digitalization on attaining sustainable progress objectives is evaluated. The avenues for institutional enhancement of Ukraine’s public finance structure based on digitalization and public data principles are justified. It is demonstrated that these actions help boost clarity and liability in the public finance domain, streamline the budget process, lessen corruption hazards, boost tax administration effectiveness, especially concerning large taxpayers, and upgrade the standard of governance choices relying on the utilization of open data and modern data systems.
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