OPEN BUDGETS: OPEN DATA AS A TOOL FOR FISCAL AND TAX TRANSPARENCY

Today, the principles of government transparency, openness and responsiveness in relation to public are inevitable components of good governance in general. In area of public finances they are particularly emphasized because citizens’ informing and familiarization with government revenues and expenditures represents basic mechanism for holding public authorities accountable in relation to public, but is also related to the protection of human rights taxpayer protection and possibilities for public participation. Fiscal transparency has intensely been advocated by international organizations, such as International Monetary Fund (IMF), World Bank, United Nations, and other, particularly within the initiatives such as Open Government Partnership (OGP) and other anti-corruption programmes. As a principle, it includes standards such as comprehensiveness, clarity, reliability, timeliness, and relevance of public reporting on the past, present, and future state of public finances (Bronić, 2013). Areas of fiscal transparency according to IMF’s Fiscal Transparency Code include fiscal reporting, fiscal forecasting and budgeting, fiscal risk analysis and management and resource revenue management.