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PLES SA VIRUSOM: TEST OTPORNOSTI GLOBALNE EKONOMIJE

Author(s): Polona DOMADENIK,Matjaž Koman,Tjaša Redek / Language(s): Serbian Publication Year: 0

The coronavirus pandemic represents a major shock for the global and EU economies and is expected to bear unpredictable, yet severe and long-lasting socio-economic consequences.Health crises provoked economic contagion and is now, it seems, spreading as fast as the disease itself. During the crisis, national economies found themselves in a free fall with different velocities. In general, it is expected that COVID-19 will take much higher toll in terms of GDP if compared with three main crises in past 100 years: the great depression in 1930s, first OPEC oil crises in the 1970s and the recent financial crises in the period of 2007-2009. Global GDP is projected to contract by about 4.4 percent in 2020, which is a sharper downturn than during the Global Financial Crisis in 2008-2009. It is then expected to rebound by 5.2percent in 2021, implying that global output should recover above it 2019 level but remain well below the level projected in the autumn 2019 forecast.The health and economic crisis has led to a significant job crisis that will increase the inequality and widen the gap in social structures. This paper presents the role of business and societal resilience. At the policy and societal level, the COVID-19 crisis has brought about a will to question the current functioning of economy and society with citizens’ initiatives. The economic system supporting the increasing share of precariat workers due to gig economy and deterioration of workers’ bargaining power, eroding the public institutions by austerity measures and siphoning value out of the economy by rewarding shareholders through stockbuyback schemes, rather than supporting investment in research and development, wages,and worker training, has proven to be ineffective to combat serious exogenous shocks. The current crisis calls for a new policy approach, based on theoretical foundations of (i) the developmental state, (ii) legal institutionalism and (iii) the entrepreneurial state.During the recent COVID crisis the switch in policy paradigm will improve the resilience of the companies in order to be capable of managing future disruptions and handling the most important challenges we need to solve like climate change, inequalities or financial crises, by reaping the synergies between collaboration, digitalization and sustainability.

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Odpowiedź polskich gmin na pierwszą falę kryzysu COVID-19

Author(s): Sławomira Kańduła,Joanna Maria Przybylska / Language(s): Polish Publication Year: 0

Purpose: The purpose of this chapter is to identify the initial responses of municipalities to the emergence of the COVID-19 pandemic. Design/methodology/approach: The research questions posed were: What types of budgetary instruments were used by municipalities during the first months of the COVID-19 pandemic in Poland? What was the scale of the loss of their current revenues and what was the amount of expenditures related to countering COVID-19? What were the sources of funding for these expenditures? Findings: Municipalities were, by necessity, on the front line of the fight against the effects of the pandemic. They used the available budgetary instruments (local taxes and fees, property revenues, budgetary expenditures) to limit the spread of the virus and reduce its negative consequences. These actions were not coordinated. The study revealed that revenue losses and expenditure increases due to COVID-19 were not as large as expected. Originality and value: The research in this chapter demonstrates that municipalities in Poland used different approaches to develop and implement policies to counteract the spread of the COVID-19 pandemic and mitigate its effects. The research shows that Polish municipalities played a leading role in the rapid response to the pandemic, although their actions varied and were uncoordinated.

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Kształtowanie się deficytu budżetowego i długu publicznego Polski podczas pandemii COVID-19

Author(s): Aleksandra Jarosz / Language(s): Polish Publication Year: 0

Purpose: The purpose of the chapter is to examine the evolution of the budget deficit and the sovereign public debt in Poland during the COVID-19 pandemic. Design/methodology/approach: The research question presented is: What is the impact of COVID-19 pandemic on the amount of state budget deficit and state public debt in Poland? The method of critical analysis of the literature on the subject was applied. Statistical data obtained from the Central Statistical Office and the Ministry of Finance were also presented. Findings: In 2020, the state budget deficit reached an unprecedented amount of 85 billion zloty, which is directly linked to the start of the COVID-19 pandemic, as the draft budget assumed no state budget deficit. Consequently, in 2020–2021 (Q1) there was a dynamic increase in public debt. Originality and value: The state budget result and the size of the public finance sector debt were lower than they should have been, because the vast majority of anti-crisis measures were financed from off-budget sources. Increased public spending increased the deficit and debt, but calculated using the Brussels method. The collected secondary data leads to the conclusion that the effect of the COVID-19 pandemic is also a decrease in the transparency of public finance in Poland.

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Opłata cukrowa jako wyzwanie dla podmiotów rynkowych oraz czynnik zmian zachowań konsumenckich

Author(s): Antonina Misiewicz,Julia Nowak / Language(s): Polish Publication Year: 0

Purpose: The chapter identifies purposes and resonances of implementing new sugar-sweetened beverages tax. The empirical part presents responses of particular economic entity, such as manufacturers, brokers and retailers. In addition, in response to new conditions the model of consumers behavior was specified. Due to economic realignment, it is attempted to predict community-related after effects. Design/methodology/approach: Text indicates key issues related to implementation new regulations. It analyses challenges, which entities have to overcome toward prevention of potential losses. Findings: Sugar-sweetened beverage tax exerted the necessity on economic subjects to implement new counter-measures, which repeatedly were connected with enormous process changes in organizations. Additionally, it is seen, that new tax is being passed-through on final consumers, which influence on increasing their purchasing vulnerability.

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Efektywność działania Krajowej Administracji Skarbowej

Author(s): Arkadiusz Raducki / Language(s): Polish Publication Year: 0

Purpose: The solution to the low efficiency of the tax administration in Poland in the last decade was to consolidate the entire tax apparatus in 2017. The main objective of the study is to determine the impact of fiscal administration consolidation on the effectiveness of its operations. The conducted analysis will allow to assess whether the tax administration reform of 2017 resulted in an increase in the effectiveness of its operation in 2017–2020 compared to previous years. Design/methodology/approach: The data used here was based on materials published by the Supreme Audit Office and reports of international financial advisory companies, including taxes. The opinions of administrative law and tax law experts on legislative changes affecting the effectiveness of the National Tax Administration were also taken into account. Therefore, the analyses carried out in the study are of secondary nature to a large extent. Findings: The conducted analysis showed that in 2017–2020 there was a significant improvement in most of the analysed performance indicators of the National Tax Administration compared to previous years. Disadvantageous phenomena in taxation, such as the shadow economyor the VAT and CIT gap, were significantly reduced, which resulted in an increase in the amountof tax and customs revenues in the state budget. The increase in efficiency is also measured in the increased effectiveness of tax and customs-fiscal audits in recent years. The efficiency of the enforcement of tax arrears has also increased significantly. Innovative IT systems played a major role in increasing the efficiency of the consolidated fiscal administration. However, it should be remembered that in the analysed years, i.e. 2017–2020, Poland had a good general economic climate, which significantly facilitated the National Tax Administration to achieve better results. In addition, many factors influence the increase in the efficiency of the tax authorities’ activities, example in combating tax crime, so it should be noted that the existing relationships may be of a coincidence.

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Nowe ramy efektywnego opodatkowania dochodu przedsiębiorstw w Unii Europejskiej

Author(s): Anna Siwiec / Language(s): Polish Publication Year: 0

Purpose: The aim of the chapter is to present the latest corporate income tax (CIT) reform proposal developed by the European Commission in cooperation with the OECD. The proposed reform provides for the introduction of new rules in international corporate taxation, which are to contribute to increasing the efficiency of this taxation. As the initiative is supported by most OECD countries, including most EU countries, it is highly probable that it will be implemented. The chapter also presents a preliminary assessment of the implementation of the reform in the European Union countries. Design/methodology/approach: The used research method was the analysis of materials published by the European Commission and OECD by the end of August 2021, as well as their comparison with the currently applicable legal solutions or the current proposals regarding the taxation of trans national corporations (TNCs) in the EU. Findings: As a result of the analysis of the materials presented by the European Commission and OECD, the chosen direction of changes was recognized as justified, however, requiring consideration of the interests of less digitized economies. The chapter presents the potential positive and negative effects of the reform for the EU countries, as well as indicates the countries that can lose the most in terms of budget revenues from CIT.

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Wpłaty od plastikowych odpadów opakowaniowych niepodlegających recyklingowi – nowe źródło dochodów budżetowych Unii Europejskiej

Author(s): Maciej Cieślukowski / Language(s): Polish Publication Year: 0

Purpose: To present the construction of a new source of EU budget revenues (contributions from non-recyclable plastic packaging waste) and its assessment against the EU’s own resources system from the point of view of the set criteria. Design/methodology/approach: The study is of a literature and empirical character. The research consists of four stages. The first stage presents the evolution of the EU’s own resources in the period 1951–2020. Domestic literature and EU source documents in Polish and English were used. In the second stage, the construction of a new source of revenue was presented.The legal regulations of the EU were used. The third stage is the presentation of the proposed burden-sharing for the new resource between Member States in 2022. For this purpose, internal regulations and EU statistical data was used. In the final stage of the research, the new sourceof revenue was assessed against other own resources according to the criteria set (simple structure, transparency, fiscal stability and efficiency, link with the EU policy, low collection costs, fair burden sharing, financial autonomy). EU source material was used for this. The study mainlyuses the method of descriptive analysis, and for the assessment of own resources—also the method of qualitative multi-criteria analysis. Findings: The analysis shows that the new source of revenue is primarily characterized by a simple structure, low collection costs, is also closely related to the EU environmental policy, and ensures a relatively fair burden-sharing between the Member States. On the other hand, the weaknesses of the new source are poor transparency and poor fiscal efficiency. As a result, it provides the Union with little financial independence. The new source of revenue generally improves the quality of the entire system of UE own resources.

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Зеленото бюджетиране като иновативна бюджетна методика – средство за постигане на глобалните климатичните цели

Author(s): James Yolovski / Language(s): Bulgarian Publication Year: 0

The innovative budgeting methods are becoming a tool for achieving specific goals related to the impact of organizations on the environment. Green budgeting is a used for achieving environmental goals. Its role in public policy is essential, and the prospects for its application in the private sector are broad as well. However, science and practice in Bulgaria are lagging behind this trend. Thus, it is necessary for the private and the public sector to build expertise and gain experience in the field of green budgeting.

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Polski Ład z perspektywy sektora finansów publicznych

Author(s): Aleksander Łożykowski / Language(s): Polish Publication Year: 0

Purpose: The purpose of the article is to present the scope and importance of Polish Deal on the public finance sector. Design/methodology/approach: The disponible data on Polish Deal impact assessment will be analysed in terms of the impact on public finance sector. Findings: Polish Deal is one of the most important changes in the Polish tax and contribution system with an impact of PLN 26 688 million. Set of changes constituting a Polish Deal impacted most heavily on local governments budgets, less on central budget while the National Health Fund benefited the most. However, this does not involve clear impact on the spendings for health system in Poland. An informal and formal legislative procedure had a greatest impact on the configuration and cost of Polish Deal. One of the most important consequences of Polish Deal in terms of public finance sector was also the total change of the income tax expenditures.

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Polski Ład z perspektywy form opodatkowania i oskładkowania dochodów osób fizycznych

Author(s): Monika Banaszewska / Language(s): Polish Publication Year: 0

Purpose: The aim of the chapter is to assess changes sanctioned under Polish Deal in the field of taxes and contributions imposed on the income of natural persons with a particular emphasison natural persons engaged in non-agricultural economic activities. Design/methodology/approach: The reasons for the introduction of the legislative changes and their economic effects were discussed. Findings: Polish Deal in the field of taxes and contributions on natural persons affects various functions of budgetary policy: revenue collection, redistribution, stabilisation and stimulation. Of particular importance are changes in the rules of calculating and deducting health insurance contributions. The impact of Polish Deal on labour supply and entrepreneurship is not clear-cut.

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Изкуствен интелект във финансовата система за защита на сигурността

Author(s): Boyko Mitkov Petev / Language(s): English,Bulgarian Publication Year: 0

The digital transformation carried out in banking and non-banking financial institutions through the use of artificial intelligence and not only is the basis for increasing both financial security and countering money laundering and terrorist financing, with one clear goal – protecting the public interest and preserving the wealth of the population and companies. The use of artificial intelligence as a new technology tool is part of the ongoing digital transformation and its highest form.

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ROZVOJ VENKOVSKÝCH OBCÍ PODPOROVANÝ EVROPSKOU UNIÍ V OBDOBÍ 2007 - 2015

Author(s): Veronika Humlerová / Language(s): Czech Publication Year: 0

The article deals with the evaluation of a link between prosperity of a municipality (based on the population or migration growth or population decline) and drawing subsidies from the European Union. The aim of this work is to determine whether the thriving municipalities are more successful in drawing of subsidies than the unprofitable municipalities. The overall increase of population in municipalities which consist of two components (natural increase and balance of migration) can be considered as a primary indicator of the municipality development. If community develops, the amount of inhabitants increase. The case study is focused on testing the prosperity of 100 randomly selected rural municipalities and their drawing of EU subsidies during the period 2007 – 2015. It is analysed the purpose of drawn subsidies and also the municipalities, with no subsidies at all. The analyses showed, that when we compare the median level of drawn subsidies per capita, prosperous municipalities are more successful than unprosperous.

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Luka VAT i jej konsekwencje dla finansów publicznych – perspektywa UE i Polski

Author(s): Edyta Małecka-Ziembińska / Language(s): Polish Publication Year: 0

Purpose: The purpose of the chapter is to examine the fiscal significance of VAT in Poland and other European Union (EU) countries and to demonstrate its role in balancing public finances of these countries. Then, estimates of the tax gap in 2019 and 2020 (for the EU) and additionally in 2021 and 2022 (for Poland) were presented, while an attempt was made to identify the impact of the COVID-19 pandemic on its level. Design/methodology/approach: The chapter consists of three points. The first section presents the fiscal significance and role of VAT in EU countries. The subject of the second point is the characteristics of the VAT gap in EU countries and an attempt to demonstrate the impact of the COVID-19 pandemic on its amount, while the third point presents estimates of the VAT gap for Poland in 2021 and indicates the implemented initiatives that contributed to its significant reduction. Findings: The National Revenue Administration (KAS) successfully uses the opportunities created by the development of the digital economy in order to improve its functioning. The period of a very strong decrease in the VAT gap in Poland occurred in 2016 and 2017. Poland approached the EU average in terms of this size. During this period, the Ministry of Finance introduced many legislative, systemic and organizational measures aimed at increasing the degree of fulfillment of VAT obligations. The sealing and streamlining solutions implemented at that time and in the following years proved to be resistant to the epidemic crisis, because even then – under the conditions of restrictions in the functioning of KAS – they allowed to maintain the downward trend of the VAT gap.

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Ryzyko podatkowe związane z VAT w czasach pandemii

Author(s): Łukasz Pastuszka / Language(s): Polish Publication Year: 0

Purpose: The purpose of this chapter is to analyse the risk resulted from COVID-19 pandemic, the increase of the risk for the entrepreneurs concerning unconscious participation in tax fraud. This chapter pictures the difficulties taxpayers have faced and in which areas entrepreneurs should pay extra caution when participating in business transactions. This will enable to illustrate the problems taxpayers faced during the COVID-19 pandemic. Design/methodology/approach: Analysis based on the author’s experience, theses based on decisions of administrative courts, data published by the Ministry of Finance and publications concerning of the COVID-19 pandemic. Findings: The analysis showed that the COVID-19 pandemic relevantly influenced the risk of the entrepreneur’s unwitting participation in tax fraud. The pandemic increases the interest in illegal activities aimed at rapid profit, caused by emerging “opportunity”, the occurrence of new conditions. At the same time, it significantly hindered the verification processes of contractors. It is more difficult for an entrepreneur to demonstrate due diligence than in the previous period. For this reason, entrepreneurs should be particularly careful in economic transactions, especially those concluded with new contractors.

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Międzynarodowa pomoc administracyjna państw członkowskich UE w zapobieganiu i zwalczaniu oszustw związanych z VAT

Author(s): Agnieszka Krysztofiak / Language(s): Polish Publication Year: 0

Purpose: The purpose of the chapter is to identify and present the rules of administrative assistance between EU Member States in the field of VAT aimed at combating fraud. Administrative assistance instruments such as automatic exchange of information, information exchange on request, information exchange without prior request, Eurofisc network, Multilateral Controls (MLC) and Presence in Administrative Offices and Participation in Administrative Enquiries (PAOE) were characterised and compared. Finally, the challenges faced by the tax administrations of EU Member States in the combating fraud were presented. Design/methodology/approach: To achieve the purpose, an analysis of legal acts was used, including in particular Council Regulation (EU) No. 904/2010 of 7 October 2010 on administrative cooperation and combating fraud in the field of Value Added Tax as well as the documents published by the European Commission and issued internal by Supreme Audit Office (Najwyższa Izba Kontroli, NIK). Findings: Based on the analysis, it can be concluded that close cooperation between administrations is of great importance for the efficiency of the tax authorities of all EU Member States. The exchange of information between Member States should mainly be based on joint analysis of information and joint direct actions. Such an innovative approach will enable full use of the anti-fraud tools available within the European Union and, consequently, will contribute to faster elimination of VAT fraud. Cooperation between countries using the tools described in this chapter is the most appropriate way to combat cross-border VAT fraud.

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Conclusions

Author(s): Laura Mina-Raiu,Lara Johannsdottir,Ivana Načinović Braje,Aída Díaz-Tendero / Language(s): English Publication Year: 0

Good governance is a key factor for national, regional and local development, which many countries aim to achieve and maintain. In a context of changing international equilibrium, transnational crisis and further integration, European democracies require innovative solutions for developing their institutional capacities and resilience. The 11 case studies incorporated in this volume showcase a broad range of national experiences with good governance and resilience in challenging times. Given the wide spread and coverage of various European experiences, the lessons to be learned and good practices to be shared cannot rely on a single, unique framework, as it cannot capture the overall diversity of contextual elements and relevant parameters of good governance and resilience. Therefore, the volume aims at showcasing positive examples that drive the capacity of organizations to manage unexpected circumstances and drawing a series of lessons to be learnt, in a comparative and transnational approach.

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Podatkowe oddziaływanie na politykę rachunkowości

Author(s): Artur Jastrzębowski,Dawid Obrzeżgiewicz,Jarosław Szyszka / Language(s): Polish Publication Year: 0

The authors discuss the practical impact of solutions used in tax law on the accounting policy of entities which keep accounting books. The purpose of this chapter is to verify whether entities adopt and include in their accounting policies solutions resulting from specific provisions of tax law. Discussing the basic differences between accounting and taxation systems, the authors point to the basic theoretical distinctions in the process of identification, valuation and recognition of economic operations. To achieve the research goal they detail the differences in the valuation principles of both legal systems, which are disclosed in the entities’ accounting policies. Using five case studies, they analyse the accounting policies of entities from various industries, presenting the use of tax valuation methods inthe accounting policies.

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Ефекти на преки чуждестранни инвестиции в България

Author(s): Galya Vladimirova / Language(s): Bulgarian Publication Year: 0

The presented work examines the changes and the effect of foreign direct investment during the period under review. The change in the indicators, the conditions of work, the discovery of new opportunities for activity in Bulgaria.

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Сравнителен анализ на законодателството на държавите-членки на ЕС по отношение на предприятията от обществен интерес

Author(s): Stiliyan Dzhoykev,Nikolay Kostov / Language(s): Bulgarian Publication Year: 0

The public interest entities (PIEs) play a pivotal role in the EU's financial and economic landscape. In light of the newly adopted Directive 2022/2464 a more detailed analysis of the methods adopted by EU member states for the classification of PIEs is needed. This report compares the legal framework of the EU member states and analyzes the classification of PIEs.

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Management of Catastrophic Risks. The Case of Karlovo Area Flood 2022

Author(s): Mihaela Vladimirova / Language(s): English Publication Year: 0

Effectively addressing catastrophic risks stemming from natural hazards holds significant societal importance, highlighting the interconnection between public finance and insurance. Within the context of Bulgaria's susceptibility to flood-related risks, this study evaluates the existing model designed for mitigating post-event damages. The effectiveness of this model is examined through the case study of the 2022 Karlovo area flood. In proposing methods for enhanced risk management, three distinct tools are introduced: the promotion of voluntary insurance, the allocation of a specific budget line item for natural hazard damages, and the establishment of a catastrophic insurance pool. To assess the viability of these approaches, a comparative analysis is conducted, drawing parallels with the catastrophic insurance pool in Romania.

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