FISCAL TRANSPARENCY AND BANKING SECRECY (A CASE STUDY OF THE IMPLEMENTATION OF THE “NATIONAL CASHBACK” PROGRAM)

Анотація

This article examines the relationship between fiscal transparency and the legal regime of banking secrecy in the context of digitalization of public finances, using the “National Cashback” program as a case study. It is substantiated that the program represents not only an instrument of state support for consumption, but also a component of fiscal policy aimed at reducing the shadow economy and increasing the transparency of financial transactions. The study analyzes the legal framework governing banking secrecy, the procedures for its disclosure, and the specific features of consent provided by individuals for the processing and transfer of financial information within the program. Particular attention is paid to the distinction between the normative model, which provides for purpose-limited disclosure of information, and the contractual practices of authorized banks, which may allow for broader interpretation of such consent. The article identifies risks of legal uncertainty regarding the scope of disclosed information, potential inconsistencies in enforcement, regulatory gaps, and risks of excessive data sharing, and emphasizes the need to ensure a balance between public interests in fiscal transparency and the private rights of individuals to the confidentiality of their financial data. It is concluded that effective implementation of such programs requires strict adherence to the principles of legal certainty, proportionality, purpose limitation, accountability in data processing, transparency of institutional practices, and proper legal safeguards against misuse of financial information. Key words: financial law regulation, financial institutions, financial services, legal regime, bank, banking secrecy, financial transactions, access to information, fiscal transparency, state program, payment transactions, digitalization, legal certainty.

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