Modern globalization and global integration increase the importance of social processes in the economy, while the human factor plays a significant role in all spheres. Sustainable development in general and certain areas of life, including tax relations, are no exception. Taxes are a socially necessary phenomenon, the basis of the financial mechanism for sustainable development, and are the most important basic regulator of social progress. Through taxes, a social balance is achieved between public, corporate, and personal economic interests. The article examines the existing models of tax relations (characterizing the interaction of the state and taxpayers from the point of view of the principles of force, law and partnership), the possibility of their successful implementation and improvement. The current model of tax relations in the state entails appropriate tax behavior on the part of taxpayers and tax authorities. Tax behavior models are based on a certain level of tax culture and morality, which is formed under the influence of a number of objective and subjective factors. Tax culture, tax behavior and discipline, the process of interaction between the state and taxpayers (the level of development of tax relations) and determine the degree of protection of national interests and sustainable development.

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The modern world at the end of 2019 faced an unprecedented shock-the coronavirus pandemic, which affected all spheres of society and the world economy. The global financial market, which has been significantly affected by the pandemic, is no exception. Many scientists and financiers around the world compare the current situation with the great depression and the consequences of World War II. The world is just beginning to calculate the real losses from the coronavirus epidemic. Most national economies forecast a severe recession in 2020, with global losses of about 3%. With a decrease in macroeconomic indicators, the stock market during the active phase of the pandemic shows growth. The specificity of stock markets is that they are not a mirror image of the state of the economy: index peaks usually occur just before the start of a recession, and index growth is usually an advance process that begins before economic growth begins. The article raises topical issues of COVID-19’s influence on global financial markets. The aim of this article is to review the dynamics of the main stock market indices, determine the reasons for the deterioration of economic development with the application of the world’s best management practices, and evaluate the measures of financial regulators for the growth of the financial market. The methodological tools of this research are General and particular research methods, methods and tools for graphical interpretation, comparative analysis, and related changes. The article gives a theoretical overview of the research of the problem, retrospective analysis of the impact of a pandemic on financial markets, examines the major stock market indices and forecasts for the global economy, the monetary actions of Central banks to stabilize the economic situation.

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