STRATEGY OF LEGAL REGULATION OF FIGHTING AGAINST THE SHADOW ECONOMY: PROSPECTS FOR DEVELOPMENT AND IMPROVEMENT

Abstract

The article is devoted to the analysis of strategic directions of legal regulation in the sphere of combating the shadow economy. The shadow economy is one of the most serious threats to the sustainable economic development of Ukraine, which contributes to the growth of corruption, illegal activities in the economic sector and losses of the state budget. The work focuses on the main causes of the emergence of shadow processes, their impact on the national economy and legal regulation mechanisms that can be used to reduce their impact. The author draws attention to modern forms of the shadow economy, in particular, illegal currency transactions, tax evasion, illegal privatization, smuggling, the release of unaccounted products and concealment of income. It is noted that in order to effectively overcome these problems, it is necessary to implement comprehensive measures that combine the improvement of the regulatory framework, increasing the efficiency of law enforcement and regulatory bodies, as well as the introduction of the latest information technologies for monitoring financial transactions. The article emphasizes the need to harmonize national legislation with international standards, as well as Ukraine’s integration into the European economic space. Special attention is paid to the importance of strengthening international cooperation in the fight against financial crimes, since the shadow economy is often transnational in nature. It is noted that the legal regulation strategy should include not only repressive measures, but also incentives to bring business out of the shadows, by reducing the tax burden, simplifying regulatory procedures and developing e-government. The author emphasizes the importance of implementing preventive measures to increase the transparency of economic activity and strengthen economic cooperation between society and the state, including in conditions when the country is in a state of war. The conclusions emphasize the need for a systematic approach to legal regulation in the fight against the shadow economy. The implementation of a comprehensive strategy will ensure increased economic stability of the country and contribute to the creation of a favorable investment climate, as well as reducing the level of corruption in the state.