The article describes the economic and legal nature of taxes, examines the purpose and the functions of taxes. The author annotates the existing views regarding the tax functions. The substantiation of sub-functions of the regulatory function of taxes is given, and their role in encouragement of socio-economic development is revealed. It is emphasized the need for correlation of all the tax functions in order to ensure the efficiency of a budgetary tax policy.

The article covers some interpretations of the conception “tax policy. The authors consider attitudes of the national analysts to the topic and substantiate their own views on the key issues.

The individual income taxation is an essential and promising area of the tax reform. The article covers some questions of the individual income taxation improvement. The author carries out a research of the undertaken reforms in Russia and their effectiveness, and considers prospective variants.

The article is concerned with social role of the luxury tax in the tax system of Russia. The author considers positive and possible negative aftereffects of the luxury tax imposition, studies experience of the foreign countries and substantiates tasks of the efficient tax system building by application of the social function of the luxury tax.