Blockchain Papers

Elisabeth Noble

No abstract is available for this record.

Аnzhela Kuznyetsova, A. O. Pelekhatyy

The purpose of the work is to identify trends and outline the problems of local budget revenues in Ukraine in the context of financial decentralization. Emphasis is placed on the need to form a systematic vision of the role of budget policy in ensuring the development of territories, determining the basis for the formation and implementation of local budgets in the context of ensuring the self-sufficiency of territorial communities formed as a result of decentralization. The scientific article presents the results of the analysis of the development of local budgets in Ukraine in the conditions of formation and functioning of united territorial communities. Research and calculations were conducted for the periods 2008-2018 and 2013-2019, which helps to identify trends and changes in the formation of local budgets due to fiscal innovations in 2014, the analysis of own revenues and transfers per capita in the regions of Ukraine. Emphasis is placed on the budget policy of territorial development in Ukraine at the present stage to increase the role of local governments in the budget sphere, providing them with expanded functions and achieving the ability to ensure the development of the territory through efficient use of available resources and use and search for additional opportunities. The main problems that remained unresolved in the context of decentralization reforms and intensified as a result of changes were identified. There is an inflated level of redistribution of gross domestic product through the public finance sector and a low level of institutional capacity of management to effectively manage financial resources, which is characterized by the risk of declining economic development and slowing down the activity of economic entities. The high level of dependence of local budgets of territories on financial support from the state budget and the problem of inefficient distribution of powers between different levels of government are argued. Emphasis is placed on the growth of disparities in the financial capacity of territories in the context of reforms of administrative and financial decentralization. As a result of the analysis of relevant indicators, the constant change of "rules" of subventions to local budgets is justified, which negatively affects the development of territories and is accompanied by the inability of local governments to effectively strategic planning of their own development. It is established to strengthen the financial capacity of developed regions, cities of regional significance and areas around such cities, deepening the depression of rural areas far from powerful "growth points" due to decentralization changes. The role of taxes as the main sources of revenue to local budgets (personal income tax, excise tax on fuel and excise tax on the sale of excisable goods, local taxes and fees) by business entities is substantiated.

V. N. Minat

The purpose of the study is to identify trends that determine the dynamics and structure of funding for the US higher education system. The subject of this study is the dynamics and structure of funding for the US higher education system. The relevance of the topic of the article lies in the substantiation of possible threats to the use of financial instruments that have passed the path of evolutionary development in America. In accordance with the purpose, a retrospective assessment of these trends has been carried out over a long period of time. To analyze the vast theoretical and statistical material on the stated problems, such methodological techniques and tools as retrospective assessment, statistical and economic analysis, comparative assessment, generalizations, and the inductive method were used. The results obtained reflect not only the stages of spatio-temporal evolution in the development of the American higher education system, but also reveal indicators that make it possible to assess the effectiveness and efficiency of this system over a century of research. The identified trends highlight the contradictory nature of funding for universities in terms of efficiency and effectiveness. On the one hand, the instruments and results of funding reflect the distinct American way of combining centralization and decentralization in the evolutionary development of a complex higher education system. On the other hand, they confirm the worldwide, ambiguous in qualitative assessment, practice of financing universities - reducing the share of government spending by increasing private investment.

Jerzy Kur, Marian Guzek

The aim of the paper is an evaluation of the doctrinal foundations of the derivatives and cryptocurrencies as well as their empirical implementation results. The neoliberal policy is based on two elements: a libertarian idea of the minimal state and monetarism of Milton Friedman.

Андрій Макурін

The article compares the concepts of virtual currency (cryptocurrency) and electronic money. It is established that such assets, although different from each other, have certain similar features. Electronic money, unlike cryptocurrency, has a legal status, a legally defined issuer, a fixed offer and is regulated and supervised. It is established that there are four qualitative characteristics that increase the usefulness of financial information that is relevant and accurately presented - it is comparability, reliability, timeliness and clarity. Thus, the issue of reflecting in the financial statements of digital assets that affect the assets of the enterprise, determining the liquidity of the balance sheet, understanding of the transactions in connection with which the company has acquired digital assets. Based on this, cryptocurrency assets have every chance to become an integral part of the world economy, as some countries are already inclined to introduce such currency in the process of use and exchange for goods or other funds. If an enterprise is able to control certain assets, such as cryptocurrency, and to carry out storage and accumulation operations with it, this affects the reflection of such assets in the financial statements of the enterprise and the assessment of the solvency of such enterprise. It is established that the liquidity of digital assets depends on their recognition in the accounting policy as a certain asset. If they are recognized as cash, they are the most liquid assets of the first group, but if they are recognized as digital goods, then this is the third group of liquidity. It is determined that the risk of using cryptocurrency has an economic and legal nature. Its essence is that the value of cryptocurrency is set by the ratio of supply and demand for it. When investing real money in cryptocurrency, the demand for it may not increase or decrease due to its unpopularity. But it should also be noted that such economic risk must be associated with legal, as the state can legalize transactions with cryptocurrency, but not with all, but only with a specific one, such as bitcoin and its "forks". Thus, based on the peculiarities of the use of cryptocurrency, the following risks can be identified, such as legal, economic, technical and others.

Iryna Tsymbalіuk, Mohammed Younus Hasan Alghadhywi

The main ideas and principles of inclusive development are revealed in this paper It is proved that the main condition for the transition of the Ukrainian regions to the principles of inclusive growth is the provision of developed inclusive infrastructure. The purpose of the paper is to substantiate the system of quantitative indicators that reflect the prospects for achieving the goals and objectives of infrastructure development in the region as an important component and prerequisite for inclusive growth. Based on the methodology proposed in the paper, the analysis of infrastructural development of the Ukrainian regions as a basis for inclusive growth is carried out. It is proved that in order to involve the maximum number of the population in the development processes, it is necessary to create appropriate conditions, which are provided by the developed infrastructure. Due to indicators of construction development, transport infrastructure, passenger and cargo turnover, the level of the population coverage with Internet services, preschool educational institutions for children; development of higher education, accessibility of medical services and health care, an index of infrastructural development of the region has been formed, which reflects the possibility of including all segments of the population in productive activities and creating conditions for growth. Significant asymmetry of infrastructural development between the regions of Ukraine has been revealed, which puts them in unequal conditions for achieving inclusive growth. It is stated that the solution of this problem is possible only with the active state support and improvement of mechanisms for financing regional development projects from the State budget. The main results presented in the paper are obtained during the research «Fiscal space of inclusive development of the region» and «Security of sustainable development of regions and territorial communities of Ukraine in the context of decentralization on the basis of inclusive growth», within which the author systematizes goals, objectives and indicators of quantitative assessment of the achievement of prospects for regions inclusive development.

D. V. Milosh, Vladimir Gerasenko

No abstract is available for this record.

Tetiana Tarasova, Андрій Макурін

The article is aimed at defining the process of settlements in cryptocurrencies between enterprises and its accounting display. During the research, it was found that all participants using cryptocurrencies distribute risks among themselves. Due to the non-recognition of the cryptocurrency as payment means, the NBU as a regulator has fully abnegated its powers as to this issue. The strengths and weaknesses of the use of digital assets are considered and listed; the main risks are characterized. It is proposed to use a synthetic account of the second order of 128 «Digital Assets» for account of any crypto assets, in the context of which it is possible to open analytical accounts appropriate for account of specific cryptocurrencies. For example, one may use of 128.1 to account the cryptocurrency bitcoin cache; 128.2 – to account the bitcoin cryptocurrency; 128.3 – to account the ether cryptocurrency etc. In addition, to account for cryptocurrencies stored on crypto-wallets, such as Coinomi, it is proposed to use a synthetic account of the second order of 336 «Digital wallet». The reflection in the accounts of payments with cryptocurrency for goods is considered. It is determined that modern «accounting science» allows identifying and making certain corrections to the existing account plan for the accounting display of certain objects, such as digital money, cryptocurrencies. Therefore, the information function of accountance allows to conduct a continuous, uninterrupted and inter-relational reflection of economic activity. The results of the research show that it is not necessary to neglect such a digital asset as cryptocurrency. It can be stored on digital wallets and used as payment means on the Internet for the proposed goods, works or services.

М.Д. Шапсугова

The transition to market relations increases the relevance of the study of decentralized finance. As P. A. Levchaev rightly remarked, due to the historical specifics, the peculiarity of Russia's financial science was a detailed study of the state finances of the planned economy of socialism. In contrast, the functioning of the finances of business entities often remained insufficiently studied. So, the subject of financial law is a state and municipal finance. Private decentralized finance is not studied by legal financial science, which gives rise to a fragmentary regulation of these relations by civil law.

A. O. Pelekhatyy

Introduction. The issue of institutional legal support of formation and implementation of the budget policy of territorial development is extremely important at the present stage of the state development and decentralization processes that are taking place. The purpose is to study the institutional and legal support for the formation and implementation of budget policy for the development of the territories of Ukraine and to develop proposals for reforming the system of inter-budgetary relations and changes to the basics of budget regulation. Results. It was determined that subsidiarity is one of the key principles of organization of functions in the sphere of public administration, which is one of the main principles of organization of power institutions. The main directions of reforming the administrative and territorial structure of the country are outlined. The basic legislative acts which today form the legal basis for forming the budgetary policy of territorial development in Ukraine in the context of decentralization and reform of public finances are analyzed, namely the laws on amendments to the Budget and Tax Codes of Ukraine. The main priorities of the state regional policy were investigated according to the Law of Ukraine "On the Principles of State Regional Policy". Definition of powers of subjects of the state regional policy, directions of coordination of activities of the governing bodies of different levels and mechanism of their financing are considered. The reform of the system of intergovernmental relations is analyzed in detail. Conclusions. Creation of a decentralized territorial development policy requires usage of a systematic approach that targets directly all participants in the process with institutional compliance and mandatory state-level delegation of mandate.

T. V. Kaneva

The role and place of costs policy in the modern system of financial regulation of budgetary institutions is defined. The priorities facing the national system of budgetary institutions are identified, taking into account the need to strengthen its effectiveness and efficiency, including in the part: creating conditions for increasing the economic independence of budgetary institutions based on the replacement of estimated funding for end-to-end budgeting; updating the institutional mechanisms for financing and co-financing of socially important services; increased transparency and publicity of activities; introducing a system for evaluating the quality of services provided; introduction of an institution of effective public financial control at all stages of the management cycle, starting with planning. A methodology for evaluating the socio-economic costs efficiency of budgetary institutions is proposed, including the definitions of relative fiscal autonomy and of the decentralization level of the system of financing for the network of budgetary institutions, which can be used to characterize the compositional structure of financial policy in the sphere of costs. The role of fiscal decentralization in financing the costs of social development is defined. The specifics of use of the program-targeted method in financing the activities of budgetary institutions are characterized. Ways to improve the cost efficiency of budgetary institutions in the spheres of education and public health are suggested.

Андрій Макурін

No abstract is available for this record.

Serhii Smerichevskyi, Olena Suzdalieva

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Serhii Davydchuk, D. Dema

The article is devoted to a comprehensive study of the formation of financial resources of enterprises in the united territorial communities of Ukraine. The purpose of the research is to reveal the essence of financial resources of enterprises and analyze their formation. To achieve this goal, theoretical and practical aspects of the formation of financial resources of enterprises operating in united territorial communities were studied. The research used an empirical method (for a comprehensive assessment of the formation of financial resources of enterprises that belong to United territorial communities), an analysis method (identified the main problems of ensuring proper financing of enterprises from the budget of United territorial communities), and an abstract-logical method (theoretically generalized and provided conclusions on the integration of agricultural enterprises with United territorial communities). The reasoning of the conclusions was based on a systematic approach, which provided a generalization of the theoretical provisions of the concept of rural development and the basic principles of decentralization, as well as an assessment of the interim results of the formation of united territorial communities in Ukraine. The advantages and potential risks of the impact of decentralization on the development of production enterprises in the united territorial communities of Ukraine are presented, which can be used to justify proposals for making adjustments to national plans for the formation of united territorial communities in order to further minimize the risks to the development of production enterprises. It is proved that the competitiveness of the agricultural sector depends directly on the management of financial resources. In turn, the availability of financial resources is a necessary condition for ensuring a continuous production process. The problems of formation and use of financial resources of agricultural enterprises in modern conditions are clarified. The indicators of economic development and investment attractiveness of the united territorial communities of Zhytomyr region in 2019 were analyzed and it was found that the communities have become able to Finance the resources of enterprises. The conclusion is made about the lack of proper state support for enterprises in the region. The main provisions set out in the article contain certain methodological and practical recommendations for the decentralization of power and its impact on the functioning and development of agricultural enterprises. In further research, attention should be paid to foreign experience in managing rural territories, united territorial communities for the implementation of public projects based on partnership between local authorities and businesses.

Н. П. ЛЕВКОВЕЦЬ N. Levkovets

The purpose of the article is to explore the concept of Bitcoin and its economic nature and history, as well as current trends in implementation in Ukraine. Methodology of research. The tasks assigned to the article were solved by means of analysis, systematization, generalization and abstract-logical methods of research. Findings. Cryptocurrency is an interesting link for investment, and its popularity is growing today. Many economic processes take place with the help of digital bills, and their percentage increases significantly with each passing day. With Bitcoin, you can integrate new technologies into an existing financial system. Ukraine has enormous prospects for developing cryptocurrencies, and with the right approach, the country may have dividends from pursuing a rational policy on the circulation and use of Bitcoin, in particular from taxation in this area. Legalization of the cryptocurrency market in Ukraine can stimulate the economy and significantly accelerate GDP growth. The Ministry of Digital Transformation intends to launch an international PayPal payment system in Ukraine and determine the legal status of cryptocurrencies at the state level. PayPal is currently used by more than 230 million people in 190 countries. It is the intermediary between seller and buyer, ensuring the reliability of payment with VISA, MasterCard, American Express and other payment systems. Determining the legal status of cryptocurrencies will help legalize related activities, such as buying and selling cryptocurrencies, as well as extracting them, and will bring market players out of the shadow zone, which will stimulate additional tax revenue from the budget. The Ministry of Digital Transformation of Ukraine plans to legalize cryptocurrency mining activities in 2019–2022. Practical value. The article deals with the concept of «cryptocurrency» and its most common currency – Bitcoin, and the prerequisites for its emergence and use in Ukraine. One of the main features that distinguishes cryptocurrency from other electronic funds is the private nature of the issue, as well as the technological features of their production and putting into circulation. All transactions made within these payment systems are publicly available. This preserves the anonymity of their members, because electronic cryptocurrency wallets used to transmit cryptocurrency do not allow users to be identified as they are not personalized. Keywords: Bitcoin, cryptocurrency, virtual money, digital currencies, mining, payment system. REFERENCES 1. A short history of Bitcoin and crypto currency everyone should read. www.forbes.com.Retrieved from https://www.forbes.com/sites/bernardmarr/ 2017/12/06/a short history of bitcoin and crypto currency everyone should read/#6265a4953f27 (accessed 11 December 2019) [in English]. 2. Site of journal Bitcoin consultant. bitcoinist. com. Retrieved from https://bitcoinist.com/bitcoin down google searches bigger beyonce (accessed 11 December 2019) [in English]. 3. Bez dobra nema zhyttya. Ekonomist dav prohnoz shchodo rozvytku kryptovalyuty [Without good there is no life. Economist gave forecast on development of cryptocurrency]. obozrevatel.com. Retrieved from https://www.obozrevatel.com/eng/economics/without dollars nemae zhittya ekonomist dav forecast schodo rozvitku kriptovalyuta.htm (accessed 01 December 2019) [in Ukrainian]. 4. Vinya, P. & Casey, M. (2017). Epokha kriptovalyut. Kak bitkoin i blokcheyn menyayut mirovoy ekonomicheskiy poryadok [The era of cryptocurrencies. How bitcoin and blockchain are changing the global economic order]. Moscow : Publishing house Mann, Ivanov and Ferber [in Russian]. 5. Haber, S. & Stornetta, W. S. (1997). Secure names for bit strings. In Proceedings of the 4th ACM Conference on Computer and Communications Security, 28–35 [in English]. 6. Liu, Y. & Tsyvinski, A. (2018). Risks and returns of cryptocurrency. National Bureau of Economic Research, 111 [in English]. 7. Proekt Zakonu Ukrayiny «Pro vnesennya zmin do Podatkovoho kodeksu Ukrayiny shchodo opodatkuvannya operatsiy z virtual’nymy aktyvamy v Ukrayini» № 9083 vid 14.09.2018 r. [Draft Law of Ukraine «On Amendments to the Tax Code of Ukraine on Taxation of Operations with Virtual Assets in Ukraine» from September 14, 2018, № 9083]. ligazakon.ua. Retrieved from http://search.ligazakon.ua/l_doc2.nsf/link1/JH70B1AA.html (accessed 13 December 2019) [in Ukrainian]. 8. Rynok kryptovalyut potrebuye pravovoyi vyznachenosti vid rehulyatoriv [The cryptocurrency market needs legal certainty from regulators]. brdo.com.ua. Retrieved from http://brdo.com.ua/top/rynok cryptovalyut the necessary legal definition of sight regulyatoriv (accessed 04 December 2019) [in Ukrainian]. Published: 2020-07-17

Natalia S. Matveeva

Financial control is a major part of the financial management system. Its increasing importance in the contemporary world is reflected in the Lima Declaration of Guidelines on Auditing Precepts, according to which financial control is an integral component of public finance management. The relevance of the topic is also associated with the strengthening of the role of financial control in developed countries and the search for ways to increase the effectiveness of its implementation. The article aims to identify the main development trends of state financial control in advanced countries and to analyze the standardization process. Despite the fact that the system of state financial control is based on different principles in different countries, depending on the prevailing historical, economic and regulatory traditions of a particular country, further directions for the development of this sphere are determined by general trends toward decentralization of control and the standardization of control activities. In addition, the current level of development of state financial control in the Russian Federation and the possibility of adapting international experience in our country in order to increase the effectiveness of financial control are described. In this article, the analysis of foreign experience has been carried out at three levels: general control over public finance; government and parliamentary control; and internal control and internal audit as special areas of financial control. In regards to standardization, the standards of external state control have been found to be formed and approved by the national control and accounting bodies of the country, taking into account the requirements of INTOSAI standards. At the same time, national standards include legally established features of the state financial control organization in a given country as well as the national practice of conducting state audit. Requirements for the organization and implementation of internal financial control can be set by supreme audit bodies or ministries of finance, whereas requirements to organize and carry out internal financial audit are often provided by law.

Valentyna Kostyuchenko, Alyona Malinovskaya, Anastasiia Mamonova

The rapid development of digital technologies affects the national and international economy. It has been 11 years since the launch of the innovative Bitcoin payment system, the first cryptocurrency. Despite certain risks of use the number of e-wallet owners is constantly growing. Each country has a different perception of the spread of this innovation. The Government of Ukraine is no exception and showing a positive attitude to the cryptocurrency market. At the moment there is no legal regulation of cryptocurrencies in Ukraine despite the fact that a number of bills were submitted for review. Due to the lack of legal framework the order of reflection in the accounting of cryptocurrency is complicated.

T. Palamarchuk

The article is devoted to the research of the theoretical foundations of the decentralization process and the con­cepts of its role in the process of reforming the system of public authorities. The focus is on the theoretical basis for decentralization. The essence of the decentralization process is revealed, which consists, first of all, in the delegation of powers, authority and responsibility to the lower levels of government, semi-autonomous state organizations or private enterprises. At the same time, the central authorities reserve the right to influence and a number of powers, which are regulated during the conclusion of relevant contracts (agreements, contracts), maintaining the right to monitor the quality of services or delegated functions, make necessary adjustments (if necessary) or early terminate concluded agreements. It is established that the process of decentralization is based on the conclusions of economic theory and, as a rule, contains the following four theses: decentralization provides a more efficient allocation of resources in the public sector; decentralization contributes to the growth of accountability of public authorities in matters of spending budget funds; the availability of its own tax base encourages regional and local authorities to take measures to expand it, to encourage the development of regional and local economies; giving regional and local authorities the right to independently manage budgetfunds stimulates them to reduce unjustified expenditures in the public sector. It is determined that an example of the most complete form ofdecentralization, which can take various forms, is devolution. At the center of it idea is an increase in powers in favor of local governments.

K. O. KYSLA, Yu. O. FOMENKO

No abstract is available for this record.

T.P. Kozar

No abstract is available for this record.

Андрій Макурін

The article deals with constructing an asset accounting process and an algorithm for recognizing an object as an asset. The main approaches to the reflection of cryptocurrency in financial accounting are analyzed. The study showed that International Financial Reporting Standards (IFRS) still lack specific clarifications on the correctness of accounting and recognition of cryptocurrencies. Cryptocurrencies are suggested to be recognized as, intangible assets on the one hand, and as inventories, on the other. The research shows that before starting the process of accounting for any asset, it is necessary to determine, whether such a resource meets the definition of an asset. The article proves that cryptocurrency is an asset. However, attaching cryptocurrency to a certain group of assets turns out to be rather problematic. The main approaches to doing it are analyzed. Speaking formally, cryptocurrency is considered to be cash or cash equivalents. Cash and cryptocurrencies have been compared, and the main distinguishing features of these two assets have been considered. The conclusion is made that cryptocurrency should be evaluated at fair value, indicating the date of evaluation to fix actual market conditions. The measure of cryptocurrency when reflected in the financial reporting is the US dollar or its equivalent in the national currency as at the balance sheet date. The research has shown that depending on the type of the enterprise activity, cryptocurrency should be determined in the financial reporting, or the «balance sheet», as «intangible assets» (line code 1000), and the primary value of such an asset corresponds to line 1001, or inventories (line code 1100). Also, if the company’s accounting policy states that cryptocurrency is a financial investment, it should be reflected in line 1160.

Jurii Bilous

Decentralization reform includes a number of other reforms, including education reform, which is one of the most important. The main results of the reform of secondary education are: the introduction of the New Ukrainian School, the change of the system of management and financing of institutions, as well as the creation of educational districts and basic schools. Optimization of the network of general secondary education institutions (GSEI) is an important element on the way to quality educational services. When optimizing the network of GSEI, it is necessary to take into account a number of factors, among which the most important are: quality of transport routes, distance of transportation of students, number of students who will need transportation, material and technical base of institutions (availability of computer classes, gym and classrooms), staffing of the library fund, the quality of teaching staff and others. As of September,1 2019 there were 402 educational establishments with 105483 students in Chernivtsi oblast. Currently, 14 basic educational institutions and 22 branches have been established in Chernivtsi oblast. Among the raions, the largest number of basic educational institutions have been established in Hertsa raion. No basic educational institutions have been established in Putyla and Hlyboka raions, as well as in the city of Chernivtsi. A total of 7,354 students study in basic institutions and their branches. To test the method of optimization of the network of GSEI, we chose Kitsman raion of Chernivtsi oblast, which is optimal for the oblast and Ukraine in general on various indicators: demographic characteristics; the size of the raion; features of the transport network; the number of GSEI and students enrolled in them and others. Currently, there are 2 basic institutions and 2 branches in Kitsman raion. After analyzing a number of indicators (level of institutions, peculiarities of the institution location, number of students who will need transportation, area of student premises, material and technical base, staffing of the library fund, qualification of pedagogical staff and quality of graduates’ knowledge), we propose to optimize Kitsman raion network of GSEI, by means of establishing of 12 educational districts, 11 basic institutions and 26 branches. In most educational districts of Kitsman raion we propose to create one basic institution, only in Kitsman educational district – two, and in Shypyntsi and Luzhany educational districts not to create any basic institution at the moment.

T. V. Paliichuk

The article is aimed at disclosing the issue of financial support for the construction, reconstruction, repair and maintenance of motor roads in the context of implementation of budget decentralization and decentralization of road management. The article specifies the steps taken towards implementation of decentralization in the sphere of road infrastructure of Ukraine and the introduction of budget decentralization: distribution of functions and powers in the road sphere at the subregional level of management and the updated mechanism of financing the road industry. Both the dynamics of formation and distribution of the State Road Fund and the status of distribution of subvention on the streets and roads of settlements are analyzed. The vision of the main risks of financial support for the maintenance of streets and roads of communal property in settlements in 2021 is disclosed. The directions of improvement of the system of financial support for the construction, reconstruction, repair and maintenance of motor roads are proposed, including in particular: the need to deepen diversification of sources of formation of the State Road Fund; consolidation of the proper guaranteed part of the State Road Fund’s costs for the maintenance of streets and roads of communal property in settlements; balancing the expenditure load and financial support for the implementation of road projects; increasing the level of transparency of decision-making in the distribution of financial resources intended for the construction, reconstruction, major, ongoing repair of motor roads.

Valerii Yankovskyi, Мaryna Shendryhorenko

The article is aimed at studying the essential component of decentralization and budget revenues; determining the main results of the implemented reform of budget decentralization in Ukraine; analyzing the current situation of own revenues of local budgets. The following general scientific methods were used in the research process: theoretical generalization, comparison and grouping – to determine the essence of the concepts of «budget revenues», «decentralization» and disclosure of components of budget revenues; analysis – when considering own revenues of local budgets for 2014–2020 and the structure of incomes in the revenues of local budgets for January – July 2020; system approach – in the formation and disclosure of the essences of the main stages of the reform of budget decentralization in Ukraine. The views of various scientists on the concepts of «budget revenues» and «decentralization» are examined. It is determined that budget revenues are an aggregate of financial relations that participate in the process of distribution of part of GDP in order to form targeted cash funds at the level of the State and local self-government bodies, designed to finance their own functions and obligations defined in accordance with the current legislation. The main components of budget revenues are determined and their classification is provided. The main stages of the budget decentralization reform in Ukraine are defined and systematized, their detailed characterizations are provided. The analysis of own revenues of local budgets for 2014–2020 and revenues in local budget revenues for January – July 2020 was carried out, during which it was determined that local taxes, despite the introduced budget decentralization, comprise only about 30% in the structure of incomes in the revenues of the general fund of local budgets, while in some countries of the European Union this figure reaches 50–60%. Practical steps towards further implementation of the budget decentralization reform for local self-government bodies are proposed.