Comparative Analysis of the Budget Revenues from Direct Taxes in North Macedonia and Serbia

Abstract Taxes in a large number of world economies represent a basic source
of public revenues, and thus financing of public consumption. Depending on the
economic system and the degree of economic development, the share of direct and
indirect taxes in total tax revenues differs, consequently, in some countries direct
taxes are a key source of financing. In developing countries, public revenues are still
based on indirect taxes, but with economic growth and development, the participation
rate of direct taxes is increasing. The subject of research is the comparison of revenues
from direct taxes in North Macedonia and Serbia and the correlation of direct taxes
with the key macroeconomic variables of the countries. The research is based on
secondary methods, during which it was concluded that direct tax revenues in both
countries have a growing trend of participation in total tax revenues.
Keywords Budget revenues · Comparative analysis · Correlation analysis · Direct
taxes and macroeconomic variables