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Empirical studies confirm that progressive personal income tax can become an important instrument of income redistribution. The purpose of this paper is to demonstrate how income redistribution criteria can influence the structure of income tax. After examining the nature of and reasons for the redistribution of income, the author provides analysis of the Polish personal income tax system.
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The goal of the article is to verify the significance of offshore financial centres (OFCs) interms of destabilization of the international financial system. Statistical data confirm that many multinational corporations hold the headquarters in the countries offering some privileges and most of OFCs offer also low corporate taxes (CIT, VAT).
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Value added tax as the general tax on consumption has a significant influence on the consumer behaviour and is a significant source of public revenues. Many tax policies in response to the current financial and public finance crisis employ the increase of the VAT rate on previously exempted or tax-favoured goods. On the other hand, in previous years some countries adapted decreased VAT rates on specific goods, e.g. books among others, in order to achieve certain non-economic goals.
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The average overall expenses spent on health-care services in the Czech Republic is 7.5% of the GDP. The estimated degree of inefficiency of these expenses is the serious issue in context of public finance. The goal of the text was to verify whether the efficiency can be increased in the area of public procurements in teaching hospitals by using the specific kind of public procurement procedures.
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Although taxes have not generated the crisis, some aspects of tax policy may have led to increased risk-taking and indebtedness of banks, households and companies. Tax incentives may indeed the behavior of economic agents, leading them to wrong economic decisions. The aim of the paper is to review main channels through which the tax policy can affect financial markets and financial stability.
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The article solves the international tax planning techniques approach in the Czech environment and confronts the Inland Revenue and tax payers’ opinions.
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In this paper the author focuses on important changes in income taxation in the Slovak Republic in recent years and seeks to assess in terms of their impact on different groups of tax payers, especially for businesses. The paper pays particular attention to selected tax incentives, which compares with the legislation in the Czech Republic.
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At the end of 2008 Polish Parliament passed a new act on public-private partnership (PPP), making PPP-related amendments to the income tax acts and introducing preferential rules for entities participating in PPP projects in Poland. For private funds to be invested in public undertakings the tax issues had to be made clear. In the Polish system only income taxes offer preferential treatment of PPP participants, which means that the applicable indirect taxes must be paid according to the general rules.
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After 2008, one of the main issue in EU countries became growing deficit of public finances. This paper argues, that the most feasible way how to improve growing fiscal imbalances in Czech Republic and Slovakia is to focused on efficiency improvements, especially in contracting of public services and public procurement. Our ten year long research in contracting of public services shows, that low level of competition, lack of motivation and poor contract management skills are the main issues.
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Being closely interconnected with method of payment and structure of the deal, tax policies determine the scope of financial synergies from mergers. Majority of current tax regimes impose a significant burden on domestic firms earning foreign income. One of its major components is double taxation, which in combination with other tax issues significantly distorts ownership patterns and reduces cross-border and domestic investment flows. An exemption of foreign income and shareholder income from taxation helps to promote social welfare, although not to the global optimum. There is positive significant correlation between international tax rates and the probability of choosing a location for an affiliate of a multinational firm for both green field investment cross-border mergers. The latter react less strongly to high tax rates than greenfield investments.
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The aim of the publication is to present public procurement as an area of procurement logistics. The research objective was to evaluate completed procurement procedures on the example of selected offices. A case study, analytical methods, inference methods, source document research methods and a literature review were used as research methods. The analysis carried out highlighted the complexity of the public procurement process in the offices. In addition, the analysis showed that in some tenders only single economic entities participated and indicated the existence of a significant discrepancy in the prices of supplies and services offered by companies.
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For three decades, relevant international institutions have been warning about the threat to the planet Earth and the violation of economic and ecological interests. Striving to be a leader in nature protection, the European Union adopted the Green Deal (plan), where certain funds from European funds are earmarked for the countries of the Western Balkans. Each country will be able to apply for these funds individually, with the fact that they will have to meet the appropriate criteria, including participation with their own funds. Looking at the financial situation of the Republika Srpska economy, we came to the realization that a large number of companies operating in the loss zone, have been insolvent for a long time, and that it is necessary, if they have not fallen under the Bankruptcy Law, to introduce crisis management to rehabilitate such companies as quickly as possible. It is also necessary to do this for companies whose productionis aimed at export.
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Today’s constitutional position of the City of Sarajevo is far from the requirements and needs it should have, not only as the State capital, but also as the most developed economic, educational, scientific and cultural center. In the 1970s, the City played such a role, but today, due to international and domestic circumstances, it is largely marginalized. In order to rehabilitate its constitutional position, it is necessary, after conducting multidisciplinary studies, to determine the principles of a new concept of the City that would include, in particular: natural territorial coverage; compliance with the European Charter of Local SelfGovernment; a democratic structure that includes direct election of the mayor and members of the City Council; precise delineation of competencies with the Canton and municipalities and stable sources of funding.
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The strategic autonomy is a relatively new concept of the EU. It first appeared in the field of EU foreign policy, security and defence. But now it already covers other areas, including economics, finance, technology, etc. The Communication of the European Commission of January 2021 also developed the ideas on how strategic autonomy should contribute to the development of the European economic and financial system, incl. by strengthening the international role of the euro and the infrastructure of EU financial markets. On the other hand, the concept of completing the Economic and Monetary Union is already about ten years old. Following the economic and financial crisis of 2007-2009, the EU institutions have been united around the idea that the euro area should be further developed by building a complete economic, fiscal and financial union of the EU. The aim is to complete these goals by 2025. The two EU concepts of strategic autonomy and the completion of the Economic and Monetary Union have the same objectives. If two paths (EU concepts) lead to the same destination, including the strengthening of the international role of the euro, would this make the travel more secure and successful? What is the significance of the synergy of these two EU concepts for Bulgaria and for its aspiration to join the euro area? This report will try to answer these two questions.
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The eurozone was created with the goal of economic convergence between its members. The Maastricht Treaty defined four convergence criteria – price stability, sound government finances, durability of convergence (measured by the long-term interest rate), and exchange rate stability. This paper analyses the developments during the 1999-2020 period in the field of sound government finances, as it is the only convergence criterion which continued to apply after eurozone membership and is by far the most important element of financial stability in the eurozone. According to the Maastricht framework, eurozone members are supposed to keep their annual budget deficits within 3% of GDP and their total government debt below 60% of GDP. In practice, the budget deficit threshold has been frequently exceeded – even by the largest economies in the eurozone – and as a consequence nowadays only a minority of eurozone members have government debt levels below 60% of GDP. It would not be an exaggeration to suggest that the financial framework of the Maastricht Treaty has been severely compromised: in 2020, the debt levels of nearly 1/3 of the euro area countries were well over 100% of GDP – even reaching 155.8% in the case of Italy, and 205.6% in the case of Greece.
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Remuneration of politicians is a relevant social issue that is worth to research. Salaries of local representatives in the Czech Republic are set by law and their size is in case of municipalities derived by municipal population. At the same time municipal councils are free to choose, how many elected officials will serve full time and get paid for that service and how many will keep their proper jobs or entrepreneurships and serve only part time and get quite symbolic remuneration. This choice may result in substantial differences in total related budget expenditure in otherwise similar municipalities. The purpose of the paper is to describe the system of local elected officials’ remuneration and its evolution since 2010 and to analyse municipal expenditure on elected officials’ remuneration in Czech towns with 10 to 50 thousand inhabitants between 2010 and 2018. A key part of the research is the collection of data from local government budgets, their processing and construction of appropriate indicators. Subsequently, these indicators will be analysed through the basic statistical methods resulting in comparison of the selected municipalities.
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The present situation of education in Slovakia is affected by various negative factors, like decrease of students for demographical reasons, discrepancy between kind and number of secondary schools and disregard to reactions of labor market. But, the main reason is an underfinancing across the education. Allocation of public finance by means of normative funding is inadequate. Normative funding forced secondary schools to accept students with low study score to gain more public finance. In the result it is wrong that school must find another foreign or external financial resource like grants and projects of the European Union. The aim of this paper is to assess the economy of selected secondary schools. Ten Business academies, with pupils aged 15–19 years old, established in Banská Bystrica and Žilina self-governing regions were examined. We used panel data gathered in school year 2013/2014 – 2017/2018 from valuable and verifiable sources like Annual reports of education and financial statements of schools. In paper we use qualitative method of semi-structured interviews with professionals in field to find out which indicators are suitable for economy measuring. Based on qualitative method we determined quantitative and financial indicators, like rate of public and external finance. We´re editing data by part of multi-criteria analyze, in the concrete standardized method. We get the economy result of selected secondary schools by integral indicator of applied mathematical method. In the conclusion of paper, we create economy ranking of schools and we suggest the economical solutions for schools with under average results. Our finding is designed by hands of Business academies for comparison with competition, founders of secondary school and resort of education.
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Decentralization and fiscal decentralization constitute one of the most followed trends for political and economic reform in recent years around the world. Albania, in the 1990s, begins its process of transitioning from a centralized economy to a free-market economy. This process is accompanied by transforming existing economic mechanisms and infrastructure to better function the free-markets model, but above all, with the need to develop and create new legal, institutional, economic, and social instruments and spaces to increase the allocation and efficiency of public and private resources. The objective of this study is to give an appropriate answer to the question: What has been the impact of decentralization reforms on the performance of public services provided by local government? The research paper will focus on the role that improvements and legislative changes play in the country's economic growth. Within the past two decades, progress is made in advancing decentralization reform, but there are still many challenges ahead, such as the lack of a clear legal and regulatory framework. Adding to that concern is the financial autonomy of local governments, which remains a challenge for the future. The research methodology used will be a descriptive analysis of data obtained from the Ministry of Finance and Economy and local municipalities on the impact of the reforms. Recommendations and suggestions will be given on the reforming process, as well as ways to increase the efficiency of local government units.
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Nejdůležitějším výrazem veřejné politiky vůči nestátním neziskovým organizacím je systém jejich financování z veřejných zdrojů, a to ze všech úrovní veřejných rozpočtů. Pokud jde o zdroje, rozpočtová politika jako součást veřejné politiky pokrývá náklady činností vládních politik. Vláda je herec rozpočtové politiky, veřejný rozpočet je pak nástrojem veřejné politiky (Ochrana, 2005). Veřejné financování nemusí být nutně vnímáno jako výraz podpory, snahy státu podpořit určitý typ činnosti. Toftisová (2001) uvádí, že veřejné financování neziskových organizací není jednostranný charitativní akt, jehož cílem by byla podpora neziskového sektoru, nýbrž je to platba za poskytnuté služby. Přístup veřejné správy k dotační politice se samozřejmě obecně v čase mění. V českém kontextu lze dlouhodobě sledovat jistý posun k částečné decentralizaci rozdělování dotací, případně přechod k soutěžnímu prostředí otevřenému i jiným než neziskovým organizacím.
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Nestátní neziskové organizace jsou nezastupitelnou součástí dnešních tržních společností, přičemž jsou zpravidla značně finančně závislé na různých vnějších zdrojích (vládních zdrojích, soukromých darech a na členských příspěvcích). Změny ve vnějším okolí v podobě makroekonomických procesů či změny politické reprezentace (jak na celostátní, tak na nižší administrativní úrovni) mohou představovat pro neziskové organizace jak přínos, tak rizika. Jedním z hlavních motivů našeho projektu/knihy byla otázka, co znamenalo pro české neziskové organizace období finanční nejistoty (po roce 2008). Vedlo ke změně struktury jejich příjmů, a zvláště ke snížení podílu veřejných zdrojů? Po vyhodnocení dat z první etapy jsme se ve druhé fázi zaměřili na soubor těch neziskových organizací, u kterých jsme zjistili mezi lety 2008 a 2013 změny ve výši veřejných zdrojů (snížení či naopak zvýšení). Cílem druhé etapy výzkumu bylo zjistit, jak neziskové organizace měnily v důsledku změny ve výši přímých veřejných zdrojů strategii svých činností.
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