We kindly inform you that, as long as the subject affiliation of our 300.000+ articles is in progress, you might get unsufficient or no results on your third level or second level search. In this case, please broaden your search criteria.
Redistributive function of public finance is provided through the state budget, which is formed as a balance of revenue and expenditure side. Revenues are redistributed and provided to citizens through public services. The primary source of the state budget revenues are taxes, which represent up to 95% of total revenues, based on individual years. Tax policy is a part of the state's fiscal policy and represents a set of measures, which govern the tax system. The Slovak Republic and the Kingdom of Spain are European Union member states which use the same currency. Both countries differentiate in many areas e.g. economics, geography etc. despite some common features. The aim of the contribution is to analyze the current situation in the field of tax burden on personal entity in the Slovak Republic and Spain. Authors conduct comparison and evaluation of the tax burden on personal entity in both countries, based on the example of an employee working in selected countries. Spain, unlike the Slovak Republic, also takes into account the origin of the tax during the tax burden calculation i.e. the area in which is tax levied. It results into different tax rates for different regions of Spain.
More...
In the knowledge-based economy, the main objective of public finance management is becoming the social well-being maximization that is achieved through the implementation of effective financial policy. It is based on the optimal structural distribution of financial resources between the industrial and non-productive sectors, combined with innovative techniques in public financial management. This policy is directed to well-being growth of the population and investing in human capital. So, the aim of the paper is to research the public financing efficiency of social well-being in the Russian Federations’ regions. Author's technique has been developed for determining a consolidated standardized indicator, which assesses the social well-being level of territories. It is based on a specially formed system of indicators. A qualitative social well-being condition of the population is proposed to be quantified by a number of indicators included in the assessment criteria system. It consists of two indicators’ groups: indicators of investing in human capital (health care, education, social protection, spiritual wealth), as a fundamental value of the modern society and indicators of financial provision in the spheres which determine social well-being. The methods of economic, system analysis and mathematical statistics are used in this research. Approbation of proposed technique is carried out on official statistical data for 2015 from open databases of the Federal State Statistics Service and the Federal Treasury of the Russian Federation. As a result, the rating of the regions is constructed on the basis of the developed technique for assessment of social well-being financing efficiency.
More...
The human capital and the person value are the main factors of economic growth and government prosperity in the knowledge-based economy. During the "age of human capital" in the study of public finance management issues, it is necessary to place emphasis on the person and his characteristics. Qualitative characteristics of the human capital are indicators of public health. Therefore, one of the most important state problems is the assessment of effectiveness of government expenditure on health care financing that is the aim of the paper. The complex indicator is based on specially criteria developed system (fertility, mortality, incidence, disability) that allows to create a numerical evaluation of health care public investment effectiveness and to draw conclusions about the quality of public health, the medical care development, training, medico-improving technologies in Russian Federations’ regions. The system of quantitative indices includes a group of health care resource provision indicators and a group of health care availability and quality indicators. Using the methods of economic, system analysis, mathematical statistics and solution optimization makes it possible to identify and select factors that affect the resource provision, accessibility and quality of health care. For technique approbation the official open databases of the Federal State Statistics Service, the Ministry of Finance and the Fund of obligatory medical insurance of the Russian Federation for 2015 have been used.
More...
Important issue for public finance is tax evasion. This problem concerns also income taxes. In order to protect the interests of the State Treasury and to ensure fair competition in the economy, measures must be available to prevent the occurrence of such attempts. One way to combat tax evasion is estimation of the tax base. The Polish legislation points out different methods of the tax base estimation. The provisions provide tax authorities with a list of six tax base estimation methods they can use. However, tax authorities may use other methods serving the same purpose, but the law (the Tax Ordinance Act) does not indicate what these methods should be. The aim of the article is to indicate methods of the tax base estimation used by the tax administration in the light of SAC rulings in 2017. The analyse of using the methods of estimating of tax base by the tax authorities was given. The scope of the analyse were different cases from the administrative court. The cases concerned different types of methods of tax estimation used by the tax administration. In all analysed cases the other methods than pointed out in the provisions were used. The implementation of rules concerning other methods of estimating of tax base was proposed.
More...
The aim of this paper is to evaluate the various policies supporting the cultural and creative industries development at the national level. Cultural and creative industries operate partly on different principles compared to traditional sectors, so the governmental support takes into account these specificities. The regulatory framework is important in boosting the entrepreneurial activity of cultural and creative industries. Granting fiscal reductions or incentives to investors in the cultural and creative industries can enable greater investment. The investment of the European Structural Funds should be encouraged, with special support to regional networking initiatives and platforms for cultural and creative industries. EU Cohesion and Structural funds could function as part of the resources allocated to Cultural and Creative industries at a European level as well as at the regional level. Cultural and creative entrepreneurs rely heavily on the use of networks within highly innovative and risk-oriented environments. However, the lack of access to finance and to market can hinder their development.
More...
This paper examines the magnitude and relevance of local debt burden at a subnational: LAU2 level, for identifying some relevant correlation and country groups. According to the official Eurostat figures the total debt amount of the local governments worth € 847.4 billion in 2017, which is 6.7 % of the EU28’s general government gross debt. Therefore, public debt is still a quotidian topic in economics, most countries worldwide face its management challenges. The research is based on legal and economic methodology with quantitative analysis, because of the cross-disciplinary nature of the topic. An overwhelming proportion (64.8 %) of it is denominated in loans, since it is simpler and easier for municipalities to borrow money from the financial intermediaries, and they are able to provide suitable coverages. The confidence in local bonds is low, for temporary financial difficulties the account payable solution is preferred. In some Mediterranean and Nordic countries state or local government-owned specialised financial institutions were established; and despite of creation at different times, they share many similarities. Since the different structures and the level of fragmentation of decentralization, relevant categories for the indebtedness may not be identified, only loose connection can be established. Generally, in countries with larger and more populous LAU2s with greater fiscal autonomy, the sum of the local debt is not so high, but for a single municipality or for a local citizen, it still means a higher burden. Parallel to this, a public administration with small municipalities bears a larger total sum, but this is dispersed among the numerous cities and villages, therefore the debt burden for a single local authority is not significant.
More...
Local administrations are in the position of administrations that provide various public services of critical importance that can directly or indirectly affect the lives of individuals. Therefore, these administrations should be provided with income sources commensurate with their duties. It is clear that the income sources of local administrations in Turkey are insufficient, which makes them dependent on transfers from the central government. In this context, in this study, the necessity of allocating the accommodation tax, which was put into practice in 2023 in Turkey and collected by the central government, to municipalities, which is the most important local administration unit, was discussed. In the study in which the literature review method was adopted; It has been concluded that accommodation taxes should be allocated to municipalities because the financial autonomy of municipalities can be increased, they are taken according to the principle of benefit, the majority of environmental protection services are offered by municipalities and municipalities are the implementers in many countries.
More...
In the past few years, several research projects focused on the barriers of inter-municipal cooperation were carried out in the Czech Republic and abroad. As the research results reflect the respective local and regional specifics, the results and conclusions are diametrically different, depending on particular conditions in the respective country. The main objective of the paper is to analyse the uneven socio-economic development of the municipalities in the South Bohemian Region, as an example of the development of cooperation between the municipalities of the South Bohemian Region in relation to the economic background of municipalities. The hypothesis is that the economically stronger municipalities have better conditions for establishment and development of cooperation of municipalities. The theoretical part consists of research findings related to the problems of regional development and cooperation of municipalities. Furthermore, various methods are introduced, which are applied in the context of municipal analysis. The research of municipality cooperation was carried out by the author in 2007-2018. The results of the research confirmed the assumption of uneven development of the territory because economically weaker municipalities have really worse conditions for the establishment and development of cooperation between municipalities.
More...
Implementation of alternative service delivery arrangements contributed to a rethinking of the public sector’s capacity as the public service provider. The public-private partnerships became part of the life of modern economics as the tool which enables the state or local government to carry their competences in a time that is ambitious to increase public need and decrease public expenditure. The goal of our paper (case study) is to present a set of analytical data comparing of public private partnership and traditional public procurement of public lighting reconstruction projects at the municipal level in Slovakia. This study uses a quantitative approach to investigate the research question. The study analyzes the original collected survey data from our own research in 14 Slovak municipalities. The analysis does not allow drawing normative conclusions about the desirability of PPP as a procurement method as it focuses only on construction costs, without being able to quantify its impact on life-cycle costs and benefits. Ideally, the relative costs and benefits of PPPs should be evaluated over the entire project lifecycle, from start of construction through operations and maintenance to the end of the contract period. However, most projects are either still under construction or in the early stages of operation and most available information relates to the construction phase.
More...
The present paper deals with the distinction between the measures implemented by EU countries to counter the crisis caused by the COVID-19 pandemic. It explains how the states’ efforts comply with the entrepreneurs striving for survival during this pivotal period. This is done by summarizing the measures applied by the EU-27 countries, grouping the measures into categories, and contrasting the most fundamental elements of the applied strategies in the countries and their influence toward reviving entrepreneurship. Building upon official COVID-19 websites of EU countries, secondary information processing, and desk research, the analyses indicate that 49% of the measures are economic compensations and loans, the employment-related measures count on 17%, tax measures present 15%, R&D are 5%, customs measures count on 2% and other measures are equal to 9% of all applied in the EU. These results strive for the conclusion that the future of entrepreneurial economic development is a prerequisite to overcoming the crisis conditions. As the empirical evidence documenting the reemergence of entrepreneurship, the common efforts and applied measures will strike to minimize the negative pandemic effects.
More...
The COVID-19 pandemic has necessitated restrictive measures to slow the spread of the virus, restricting freedom of movement and other coordinated containment measures. All this has led to profound transformations in the transport sector – technological, economic, and social. All of these measures have crystallized and have become critical to the sustainable recovery of the transport sector from the pandemic. At the national level, a National Recovery and Resilience Plan (NRRP) has been adopted to address the pandemic impacts, facilitating economic and social recovery from the crisis. The report provides a comparative analysis of the envisaged measures and reforms of the NSSMP with the areas and actions for sustainable development of transport in Bulgaria identified by the project team under contract No. INI – KP-06-DK2/4 of 30.03.2021, concluded with the Ministry of Education and Science Research Fund. On this basis, it outlines additional areas for taking measures to recover the transport sector from the pandemic. The comparative analysis provides a foundation to summarize that the corresponding actions, investments, and reforms and the highlighted areas and measures for sustainable development in transport are primarily targeted and well-founded. Still, additional steps must be taken to recover and sustain the transport business.
More...
In 2021 Bulgarian citizens had the opportunity to practice their constitutional right to vote three times for the National Assembly, once for а president and а vice president and three times in local elections. This provoked serious public debates on the price of the election and how much it should be paid to serve as a public pledge to preserve democracy and political pluralism in the country. To answer the question ''How much does the election cost?'' the budgetary process of forming the financial framework with the funds needed to hold the elections should be researched. This article aims to clarify from a legal point of view what is included in the concept of ''election budget'', which are the competent authorities that manage public funds in the election process, as well as the procedure for controlling public spending.
More...
Modern challenges related to the implementation and observance of environmental requirements and norms in the implementation of economic activity determine the need for the creation, presentation, and disclosure of accounting information by enterprises for the interaction between business and the environment. The policy of the European regulatory bodies for the protection of natural resources is aimed at adapting the accounting systems of economic entities in the process of monitoring and managing environmental risks. The purpose of the scientific development is the study of the current projections of accounting as an information system through the prism of the sustainable use of natural resources and the effective management of the circular economy. The focus is on delineating the possibilities for practical testing of the requirements of the applicable accounting standards for the disclosure of non-financial information by enterprises, with a view to identifying and measuring the impact of economic and anthropogenic activity on the environment.
More...
The purpose of the research is to achieve the effective functioning of tax mechanisms for the protection of tax security and development of the economy. Methodologically, the system approach, modeling and comparative analysis were used. For the first time in the literature, the concept of "tax security" is introduced as a part of financial/fiscal security and the possibilities for modeling tax policy and tax control are explored, in the context of national security and protection of the strategic interests of the state, for sustainable development the economy and society as a whole. The research problem is extremely topical and in view of the fact that there is a lack of development and research in this direction. The research problem is extremely topical and in view of the fact that there is a lack of development and research in this direction. In the long term, the security of the state represents a set of security of the individual elements of its financial system, including and the fiscal (financial/tax) security of both the state and the debtors.
More...
In relation to the transition towards a sustainable, carbon-neutral, circular economy it is necessary to provide envisaged financial resources from the public funds as well as increase in private sector investments. Financial intermediation, in particular bank intermediation, plays a crucial role, while the transition leads to new risks which should be defined and appropriately managed in order to minimise threats to financial stability. Regarding sustainable financing the European Commission adopted a set of actions, summarised in a published plan and strategy. The action plan aims at reorienting capital flows towards a sustainable development, mainstreaming sustainability in risk management, fostering transparency and long-term orientation. In this context, the EC's efforts are focused on ten interrelated areas, with the building blocks of taxonomy, disclosure and other tools as benchmarks and standards. These legislative acts are the starting point for categorising banks’ products and exposures, as well as activities of the banks’ borrowers. Furthermore, they contribute to the development of unified reporting, as a basis for assessment and management of the climate change transition risk, part of the broader concept for environmental, social and governance (ESG) risks. Under the newly established European regulatory framework for sustainability disclosure, credit institutions should meet multiple reporting requirements. Banks must have an appropriate corporate governance and risk management structure and process in place to identify, measure, mitigate and report risks. Competent supervisory authorities are engaged in monitoring and analysing this information for the purposes of financial stability. This is why banks and supervisory authorities are facing the challenges related with accurate future reporting and measurement of ESG risks, given the lack of sufficient and comprehensive information.
More...
Controlling the pressure of inflation, which is a serious threat to the economic and fiscal security not only in Bulgaria, but also in the other EU member countries, necessitates taking a system of measures. Inflationary pressure is a process that affects the economies of countries and the lives of every citizen and threatens their financial security.
More...
Risk management of the development of customs administrations requires systematic monitoring, reporting and accounting of the status of the process. Only in this way can it be monitored, while the risks are managed successfully, if the implemented measures reduce the risks and contribute to the achievement of the objectives. This ensures transparency and traceability in risk management and the activity as a whole.
More...