GENESIS OF LOCAL TAXATION IN UKRAINE

The author has analysed the development of the legal and regulatory framework of local taxation, determined the peculiarities of fiscal and economic functions of local taxes and fees and suggested ways how to further improve the mechanism for legal regulation of the system of local taxes and fees. It has been determined that the regulatory system of local taxation needs reforming using the two following principles: ensure the fiscal function of local taxes and fees so that to better satisfy financial demands of local territorial communities, carry out tasks of the regional development as well as to ensure a favourable socio-economic policy for the development of business activity of business entities.