Search

This analysis examines the impact of new stadiums on consumer demand for sports spectatorship in the four major US‐based professional sports leagues. Estimates from difference‐in‐differences event studies identify a transitory attendance shock from new venues that diminishes to pre‐stadium‐treatment levels within a decade. The updated estimates confirm the existence of the novelty effect in modern facilities and identify subtle differences in magnitude, certainty, and duration across leagues. Revenue estimates indicate that the substantial financial returns from constructing new stadiums likely incentivize the premature replacement of host venues when combined with typical public subsidy levels. [ABSTRACT FROM AUTHOR]

This article provides panel data estimations of the tax revenue determinants in VG (Visegrad Group) countries (the Czech Republic, Hungary, Poland, and Slovakia) for the period 1994–2023. The aim of this research was to determine how the macroeconomic determinants affect the tax revenues in the selected countries. Within the static models, the Hausman test showed that the FE (fixed effects) model is appropriate and reflects the significant effects of the gross domestic product, population, inflation, unemployment, import, government revenue, government expenditure, and EU enlargement on the tax revenue. The PMG (Pooled Mean Group) model is an adequate model among the dynamic models and manifests the significant effect of the lagged value of the tax revenue. In the short term, growth of the gross domestic product and population by 1% causes higher changes in the tax revenue of 0.14% and 2.93%. Likewise, growth of the inflation rate by 1% decreases the tax revenue by 0.037%, which is higher than in the long term. Further, the results show that EU enlargement is significant for tax revenue in the short term, as well as in the long term. In the long term, unemployment has a greater significant effect on tax revenue, where 1% growth decreases the tax revenue by 0.15%. In contrast, government revenue is significant for tax revenue only in the long term, where 1% growth increases the tax revenue by 0.77%. [ABSTRACT FROM AUTHOR]

Background: Like many developing countries, Colombia faces difficulties in financing health-care services as well as programs for health promotion and health education and there is evidence that its health-care system is underperforming. Objective: To provide evidence-based estimates of potential funding levels and assess the strengths, weaknesses, and viability of innovative funding mechanisms with a focus on treating rare diseases in Colombia. Methods: The strategy involved evidence-based projections of potential funding levels and a qualitative viability assessment using an expert panel. Results: Crowdfunding, corporate donation, and social impact bonds (SIBs) were deemed to be the most viable of numerous potential strategies. Expected funding levels over 10 years for rare diseases in Colombia from crowdfunding, corporate donations, and SIBs were roughly $7,200, $23,000, and $12,400, respectively. Conclusions: Based on the combination of projected funding potential along with expert consensus regarding viability and operability, crowdfunding, corporate donations, and SIBs, especially in combination, have the potential to substantially improve funding for vulnerable patient populations in Colombia. [ABSTRACT FROM AUTHOR]

The study aims to identify and empirically analyze the impact of direct tax and indirect tax revenues on economic growth in the transition countries of Southeast Europe, based on panel data for the period 2005-2019. Factors that are included in the study as independent variables are direct tax and indirect tax revenues. In contrast, the dependent variable is defined as the annual GDP growth in percentage, an indicator of economic growth. The econometric approach is OLS regression analysis, random effects regression, and fixed effects regression. The model's reliability has been tested by applying diagnostic tests, such as autocorrelation, normal distribution, and heteroscedasticity. Moreover, the result of the Breusch and Pagan Lagrangian multiplier and Hausman test suggests that the adequate model is a regression with fixed effects. Therefore, the findings with a regression with fixed effects confirm that the revenues from indirect taxes resulted in a positive and statistically significant effect. In contrast, direct tax revenues did not significantly affect economic growth but resulted in a positive sign. The analysis through the econometric model enabled the achievement of the aims set in this paper and the achievement of the final goal, providing observed evidence that the role of tax policy is crucial to encouraging economic growth. [ABSTRACT FROM AUTHOR]

In the conditions of the modern global economy, tax policy is a direct tool of management that influences the economic development of the country. This paper dwells on the assessment of the interconnection between tax policy and economic development of the Kyrgyz Republic. The paper considers the issue of adapting the country’s tax policy to the conditions of the world economy, as well as to domestic needs and possibilities. This research focuses on the specific features of Kyrgyzstan's tax system, including the structure and recent changes in the legislation and their influence on fiscal policy and economic indicators. The authors emphasize that to achieve sustainable economic growth and raise the population’s well-being, it is important to create a tax system that would adequately react to the changes in the world economy. This paper contains a detailed analysis of macroeconomic factors and key economic indicators that is aimed at determining the current trends and potential opportunities for the optimisation of the tax burden. Special attention is paid to the development of tax tools that facilitate the formation of a favourable environment for sustainable economic development and prosperity of the national economy. This research is a complete overview of the tax system of the Kyrgyz Republic, with an analysis of the recent changes in the context of their impact on fiscal policy and economic indicators. Summing up, this paper distinguishes the strategic significance of effective tax policy for the stimulation of sustainable economic growth. [ABSTRACT FROM AUTHOR]

Mining royalties provide a volatile source of revenue for state governments in Australia. We explore the effects of changes in royalty revenue received by a state government on current‐year budget decisions about expenditure, tax revenue and the budget surplus. The literature postulates different models for how lower‐level government budget decisions respond to a revenue windfall from a higher level of government. Empirical evidence on these models over 1998–2019 provides strong evidence that over a half of a royalty windfall becomes a change in budget expenditure. Estimates of changes to tax revenues and the surplus are not definitive nor robust. [ABSTRACT FROM AUTHOR]

Copyright of Ingeniería Solidaria is the property of Universidad Cooperativa de Colombia and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The objective of this longitudinal analysis was to estimate funding loss in terms of tax revenue to the New Zealand (NZ) government from disease and injury among working age adults. Linked national health and tax data sets of the usually resident population between 2006 and 2016 were used to model 40 disease states simultaneously in a fixed-effects regression analysis to estimate population-level tax loss from disease and injury. To estimate tax revenue loss to the NZ government, we modeled a counterfactual scenario where all disease/injury was cause deleted. The estimated tax paid by all 25- to 64-year-olds in the eligible NZ population was $15 773 million (m) per annum (US dollar 2021), or $16 446 m for a counterfactual as though no one had any disease disease-related income loss (a 4.3% or $672.9 m increase in tax revenue per annum). The disease that—if it had no impact on income—generated the greatest impact was mental illness, contributing 34.7% ($233.3 m) of all disease-related tax loss, followed by cardiovascular (14.7%, $99.0 m) and endocrine (10.2%, $68.8 m). Tax revenue gains after deleting all disease/injury increased up to 65 years of age, with the largest contributor occurring among 60- to 64-year-olds ($131.7 m). Varied results were also observed among different ethnicities and differing levels of deprivation. This study finds considerable variation by disease on worker productivity and therefore tax revenue in this high-income country. These findings strengthen the economic and government case for prevention, particularly the prevention of mental health conditions and cardiovascular disease. • Maintaining a healthy society is an important determinant of national economic status, with the health of the working population determining a substantial proportion of tax revenue. • In a scenario of no disease or injury in New Zealand among working age adults, we estimate that tax revenue gains may increase by 4.3% or US $672 9 million. • This modeling provides support for health policies that prioritize preventive interventions to reduce disease burden, particularly from mental health and cardiovascular disease. [ABSTRACT FROM AUTHOR]

This review paper attempted to assess the tax compliance behavior of taxpayers in Ethiopia. The objectives were specifically to identify determinants and challenges of tax compliance behavior of taxpayers in Ethiopia. Taxes are the most important sources of the government that make it possible to finance infrastructure, investment, and the provision of services for citizens. Tax compliance involves being aware and complying with tax laws and regulations set by the government and tax authorities. Tax non-compliance is an unwillingness in obeying tax laws and regulations. Tax non-compliance has been a challenge to the government and tax authorities in collecting as much tax as required for the nation. Failure to comply with tax prevents adequate revenue collection of the state. The major challenges of tax compliance in Ethiopia are the complexity of the tax system, inefficiency of tax authorities, lack of tax knowledge and awareness, negative perception of taxpayers, a negative act of tax assessors, absence of tax training, lack of transparency of tax system, arbitrary estimation of taxes, personal financial constraints, political instability and lack of timely tax audit. [ABSTRACT FROM AUTHOR]

Many studies have established the creation of new forms of taxation in Medieval Bologna, the increase of tax revenue between the 13th and 14th centuries, and the contemporary aggravation of economic inequalities. Based on my doctoral research on the relations between fiscal policies and political inequalities at the end of the 14th century, this research paper describes the building of a database of all known contributions in Bologna in the 14th century and highlights what such a tool can offer. The first objective of the database is to present the progression and social distribution of taxation in 14th century Bologna. The other main aim is to gather all the pertinent documentation on taxation, which is still scattered in several series. These registers are not always linked, and some simply bear indirect traces of the subject of interest, but they represent an initial approach to the documentary links around which taxation was organized, to the various practices of the officers, and the several functions of public taxation, beyond its mere fiscal dimension. [ABSTRACT FROM AUTHOR]

We examine whether public financial statement information is incrementally useful in forecasting confidential taxable income. More precise firm-level taxable income forecasts can improve policymakers' modeling of the tax system and the analysis of proposed changes in corporate tax law, while more accurate macro-level forecasts of corporate taxable income can improve estimates of corporate tax revenues, a significant component of the federal budget. We find the addition of financial statement information improves firm- and industry-level estimates of future taxable income by primarily providing more timely information, but also through accruals. Our results suggest that macroeconomic forecasts of taxable income may be further improved by the aggregation of firm-level forecasts that are generated using financial statement information. Importantly, our results are driven primarily by tax information in financial statements. We also contribute to the research on the information content of financial statement information for forecasting economic activity. JEL Classifications: M41; M48; H25. [ABSTRACT FROM AUTHOR]

The question of how much of the potential tax revenue is actually obtained remains very critical in Ghana's efforts to improve domestic revenue mobilization. This paper computes and examines tax gap and compliance burden among micro and small businesses which constitute more than 90% of Ghana's informal economy. Using data on 485 businesses in Ghana, the study finds that while some businesses underpay their taxes, surprisingly others actually pay more than expected. The average tax gap is computed to be about GHC 109.2 (US$19.2). Small businesses are associated with a higher tax gap of 24.9% compared to their micro counterparts. Moreover, we find that as compliance burden increases, the tax gap also increases, albeit significant variation in the effect of compliance burden on tax gap across regions and different tax handles. JEL Classification: H25, H26, H27, H32 [ABSTRACT FROM AUTHOR]

The influence of budgetary risks on the formation of revenues of budgets of territorial communities is investigated and a methodical approach to estimating the structure of revenues of budgets of territorial communities in the conditions of financial decentralization is developed. It is noted that today the introduction of the latest methods for optimizing the revenues of the budgets of territorial communities with permanent control over the level of budgetary risks becomes especially important. Mathematical forecasting of the probability of budget risks and its empirical measurement requires special attention. The main approaches of domestic and foreign scientists to forecasting the probability of budget risks with the help of economic and mathematical tools are considered. Its practical use, on the one hand, will ensure their permanent control, and on the other - will allow optimization of the revenues of the budgets of territorial communities. It is established that the existing methods are difficult to implement in domestic practice due to their significant mathematical calculation. Calculations were made using the postulates of portfolio theory, in particular the portfolio approach of J. Hicks, which allowed to form a rational structure of revenues of budgets of territorial communities in terms of general and special funds, as well as to identify ways to minimize budgetary risks to ensure optimal revenue structure without interbudgetary transfers in conditions of permanent crisis phenomena. This will allow local governments of territorial communities to increase the performance of their budgets. The latest tools of financial decisionmaking using J. Hicks' portfolio approach to the formation of the optimal structure of budget revenues of territorial communities without intergovernmental transfers, taking into account the level of budgetary risk, were obtained by applying the tools of economic and mathematical modeling. It is concluded that the latest tools for the formation of the optimal structure of budget revenues of territorial communities with permanent forecasting of the maximum possible level of their growth under the control of budget risks allow the development of ways to minimize, forming many scenarios for the optimal structure of future budget revenues and budget risk. It is established that the proposed toolkit allows to generate alternative financial solutions for local governments and assess the results and consequences of their possible adoption in determining strategic guidelines for the development of local community finances. It is proposed to further use the developed scientific and methodological approach to optimize the revenue structure of budgets of territorial communities in the context of various budgetary risks, which, of course, will allow local governments to make effective financial decisions in developing programs of socio-economic development of territorial communities. [ABSTRACT FROM AUTHOR]

There is considerable diversity and variation in the land-based and agricultural income tax rates across the provinces in Pakistan. The annual land-based tax revenues from the cultivated land, including orchards, are estimated at Rs. 5 billion in Punjab, 2.5 billion in Sindh, one billion in KP, and less than half a billion in Balochistan. Based on the 2017-18 GDP estimates from crops, two sets of income tax revenues were estimated: one at the provincial rates and the other at the FBR tax rates for non-salaried persons. Tax revenues from crop income, at the current provincial rates, work out to Rs. 34 to 37 billion in Punjab, 7 to 8 billion in Sindh, 7 to 9 billion in KP, and 4 to 5 billion in Balochistan. Revenue estimates at the FBR rates are Rs. 112 to 134 billion in Punjab, 25 to 30 billion in Sindh, 9 to 10 billion in KP and 21 to 24 billion in Balochistan. These estimates are indicative of the revenue potential from taxation of crop incomes and need to be kept in perspective along with the cost of tax collection while designing policy instruments for taxing agricultural incomes. [ABSTRACT FROM AUTHOR]

SUMMARY: The provision of non-audit services (NAS) to audit clients can generate knowledge spillovers that enhance auditors' judgments or self-review and self-interest threats that impair auditors' independence. Prior research finds mixed evidence of a relation between tax NAS and clients' (actual and potential) material GAAP violations in accounting for income taxes. As auditors are likely to avoid material GAAP violations, we re-examine this issue using a measure that reflects immaterial or within-GAAP estimation error in clients' income tax expense. We find that greater amounts of tax NAS are associated with greater income tax estimation error, consistent with tax NAS threating auditors' independence. The association is partially offset by auditor expertise and concentrated in engagements where auditors face both self-review and self-interest threats. Our findings inform the ongoing policy debate regarding whether accounting firms should provide tax NAS to their audit clients. Data Availability: Data are publicly available from the sources indicated in the text. JEL Classifications: M41; M44; M49. [ABSTRACT FROM AUTHOR]

Background: Following cardiovascular events, individuals often make choices about their working life that pose fiscal costs for the government in relation to lost tax revenue, increasing disability or early retirement. We evaluate the fiscal consequences for the Australian Government in atherosclerotic cardiovascular disease (ASCVD) patients with low-density lipoprotein >3.3 mmol/L after the maximum tolerated doses of a statin or when contraindicated or intolerant to statins, compared to evolocumab added to the standard of care. Methods: The natural history of patients with ASCVD was evaluated using a multi-state Markov cohort model comparing evolocumab with current treatment practices. Published rates for the likelihood of being disabled and retiring prematurely in patients experiencing stroke or myocardial infarction were modeled. Reported government costs for annual disability payments and lost tax revenues from the nationally representative STINMODþdata set were used to estimate the fiscal consequences associated with attributable ASCVD events. Results: The incremental tax gain associated with evolocumab in someone aged 40, 50 or 60 results in additional tax revenues of Aus$15,716, Aus$9,810 and Aus$4,217, respectively. Cost-savings attributed to disability payments of Aus$3,483, Aus$2,495 and Aus$4,619 were observed in those aged 40, 50 and 60, respectively. The ratio of evolocumab to fiscal benefits indicates that up to 52% of evolocumab costs are offset by future lifetime taxes paid and reduced social benefits payments in those treated aged 40. The ratio of fiscal benefits to costs in treating those aged 50 and 60 were 37% and 31%, respectively. Conclusions: Applying a cross-sectorial government perspective budget impact assessment improves our understanding of fiscal changes attributed to ASCVD based on changes in premature mortality and work activity and how this influences lifetime tax contributions and public benefits. The main cost driver observed was associated with reduced ASCVD events that enabled people to remain productive and paying taxes. [ABSTRACT FROM AUTHOR]

Validating the profit formula of a business idea is a difficult task for students and entrepreneurs alike. With the "Business Coaster" we present a simple and playful tool that helps students to get in touch with numbers and design the value capture side of a business model. [ABSTRACT FROM AUTHOR]

Fixed feed-in tariffs based on the Renewable Energy Act grant secure revenues from selling electricity for wind turbine operators in Germany. Anyhow, the level of federal financial support is being reduced consecutively. Plant operators must trade self-sufficiently in the future and hence generate revenue by selling electricity directly on electricity markets. Therefore, uncertain future market price developments will influence investment considerations and may lead to stagnation in the expansion of renewable energies. This study estimates future revenue potentials of non-subsidized wind turbines in Germany to reduce this risk. The paper introduces and analyses a forecasting model that generates electricity price time series suited for revenue estimation of wind turbines based on the electricity exchange market. Revenues from the capacity market are neglected. The model is based on openly accessible data and applies a merit-order approach in combination with a simple agent-based approach to forecast long-term day-ahead prices at an hourly resolution. The hourly generation profile of wind turbines can be mapped over several years in conjunction with fluctuations in the electricity price. Levelized revenue of energy is used to assess both dynamic variables (electricity supply and price). The meritorder effect from the expansion of renewables as well as the phasing out of nuclear energy and coal are assessed in a scenario analysis. Based on the assumptions made, the opposing effects could result in a constant average price level for Germany over the next 20 years. The influence of emission prices is considered in a sensitivity analysis and correlates with the share of fossil generation capacities in the generation mix. In a brief case study, it was observed that current average wind turbines are not able to yield financial profit over their lifetime without additional subsidies for the given case. This underlines a need for technical development and new business models like power purchase agreements. The model results can be used for setting and negotiating appropriate terms, such as energy price schedule or penalties for those agreements. [ABSTRACT FROM AUTHOR]

Measurement of an economic indicator or phenomenon starts by defining it first and determining its components. Tax evasion as a component of the underground economy is a phenomenon that is hard to be observed and estimated because of its hidden nature. To be able to compare the figures for tax evasion from different countries, there is the need for a definition internationally accepted. This paper aims to make a literature review on the phenomenon and to find a definition that is widely accepted. In this area, not only the literature review is important but also the legislation from different countries. We will look closely at the definition of tax evasion given by the legislation of different countries from the EU and the USA. In the literature, there are several methods to estimate the underground economy. There are direct methods (questionnaire), indirect methods (indicator methods), and statistical methods (MIMIC), but all of them have their shortcomings. In the paper, all the shortcomings of each method used in the present are discussed to estimate the underground economy. As a conclusion, we can state that at the present moment there is not a definition internationally accepted for the underground economy, making it hard to estimate and to compare the results from different countries. In addition, the methods used to estimate the phenomenon have advantages and disadvantages. None of the methods is better than the other. When estimating the underground economy, it is advised to use more than one method. At this moment it is safe to say that the link between theory and empirical estimation is still unsatisfactory. [ABSTRACT FROM AUTHOR]

We estimate the revenue implications of a destination-based cash-flow tax (DBCFT) for 80 countries. On a global average, DBCFT revenues under unchanged tax rates would remain similar to the existing corporate income tax (CIT) revenue, but with sizable redistribution of revenue across countries. Countries are more likely to gain revenue if they have trade deficits, are not reliant on the resource sector, and/or—perhaps surprisingly—are developing economies. DBCFT revenues tend to be more volatile than CIT revenues. Moreover, we consider the revenue losses resulting from spillovers in case of unilateral implementation of a DBCFT. Results suggest that these spillover effects are sizeable if the adopting country is large and globally integrated. These spillovers generate strong revenue-based incentives for many—but not all—other countries to follow the DBCFT adoption. [ABSTRACT FROM AUTHOR]

We design a parsimonious cash flow tax for Australia and estimate revenue effects. It allows immediate deduction of all capital expenditures, denies deductions of interest payments, and compensates negative cash flows at the same rate and time as it taxes positive cash flows. It allows taxpayer timing choice on implementation over 10 years. It has incentive effects comparable to lowering the corporate income tax rate to zero. It removes distortions that artificially favour debt over equity, short‐ over long‐term investments, rents over competitive returns, large, established over small and new businesses, and conventional over innovative investments. It closes international tax evasion loopholes. Its spur to investment and timing of revenue impacts favours implementation in recession. [ABSTRACT FROM AUTHOR]

The inheritance tax is often seen as an effective tool to reduce wealth inequality, to raise public revenues if needed, and to increase incentives to work by lowering the tax burden on labour, which is especially high in Germany, according to the OECD. The purpose of this paper is therefore to shed light on the question of whether an inheritance tax is a promising tool for fighting wealth inequality without having distorting effects on the economy. For this purpose, firstly, the distributional effects of inheritances on wealth distribution are evaluated for Germany and are then compared with those in Austria and France, using data from the Household Finance and Consumption Survey (HFCS). A change in the German inheritance tax law in 2009 is further used in a difference-in-difference analysis to identify the behavioural effects of the change in the inheritance tax on the volume of bequests, which are large and robust for different specifications. Secondly, the insight from part one is applied to the design of an inheritance tax reform for Germany. The potential tax revenue of the reform can be estimated by using the data from the inheritance and gift tax statistics. A revenue shift from income to inheritance tax could be used to increase work incentives by cutting the marginal tax rates for the working population. However, it turns out that taxing inheritances will be accompanied by significant behavioural responses of donors via tax planning. Furthermore, the introduction of a flat tax model with a broad tax base would not generate enough additional revenue to foster relevant employment effects. [ABSTRACT FROM AUTHOR]

Copyright of Journal of Agricultural Economics & Social Sciences is the property of Egyptian National Agricultural Library (ENAL) and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Mounting empirical evidence suggests that term limits and, by extension, higher legislative turnover increase the overall size of government and change its spending composition. However, less is known about the turnover's impact on the composition of tax revenues. This study fills this void by exploiting exogenous variation in term limits and redistricting as instruments for legislative turnover, which is found to be positively associated with most state taxes except for the corporate income tax. We hypothesize that the negative association between legislative turnover and corporate income taxes might be influenced by a higher propensity of business owners to enter term‐limited state legislatures. [ABSTRACT FROM AUTHOR]

In this paper, the joint hypotheses of consumption and tax smoothing are shown to imply that the present value of expected proportionate declines in government non-interest outlays is approximately equal to a log-linear function of the budget deficit and private dissaving. In this exact linear relation, the budget deficit signals declines in future government outlays, after controlling for prospective changes in the tax base. Private dissaving controls for such prospective changes since, under the joint hypotheses, the present value of expected proportionate rises in tax revenues are approximately equal to a log-linear function of private dissaving. Both exact linear relations are tested in a VAR framework on annual post-World War II U.S. data. We find considerable empirical support for the theory. [ABSTRACT FROM AUTHOR]

Copyright of Canadian Journal of Animal Science is the property of Canadian Science Publishing and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Measuring tax gap highlights 'everything' an expanding digital era might mean for tax - and not just tax non-compliance. Since tax gap measures the difference between the theoretical tax liability and actual revenue collected, its measurement transparently links tax policy design, revenue administration performance and taxpayer behaviour to the broader questions of economic growth, fiscal sustainability and fiscal effort and capacity. It also asks fundamental questions about data and its integrity as reported by the revenue administration, the official statistician and business and individual taxpayers. What tax gap estimates can therefore do is bring transparency and understanding to otherwise complex issues arising from the digital era and therein facilitate an informed evidence-based response to its impact through changes to tax policy design, legislation and administration. [ABSTRACT FROM AUTHOR]

Background: Tax evasion is one of the factors impeding tax revenue mobilisation. Although there are efforts to reduce non-compliance, the extent and nature thereof remain fairly unknown in many developing countries, including South Africa. To adequately address tax evasion, it is imperative to determine the tax gap (i.e. the difference between the theoretical tax liability and the actual tax revenue collected). Aim: To estimate the extent and nature of South Africa's personal income tax gap, disaggregating the gap by the type of income (salaried and non-salaried). Setting: The study looks at the South African personal income tax system. Methods: This study employs a micro-simulation approach using data from the Income and Expenditure Survey of South Africa for the periods 2005/2006 and 2010/2011. Results: The findings reveal that South Africa lost tax revenue of R60.1 billion in 2005/2006, and R26.2 bn in 2010/2011 (in 2017 prices). Of the total compliance gap in 2005, 28.5% emanated from taxpayers with salaried income, and 71.5% from non-salaried income taxpayers. In 2010, salaried income taxpayers contributed 1.1% to the total compliance gap. Conclusion: Despite an overall improvement in the individual compliance rate, non-salaried income taxpayers (self-assessment reporting) are the main contributors to South Africa's personal income tax gap. [ABSTRACT FROM AUTHOR]

The article presents a U.S. economic forecast for 1974. The forecast assumes that the war in the Middle East will not directly involve the U.S. and not escalate U.S. defense expenditures significantly. It is predicted that the war will not have a significant impact on the U.S.' output of goods and services. U.S. federal tax rates are not predicted to increase. Federal expenditures are expected to stay stable. Experts predict that the Federal Reserve System will move to a moderate and less restrictive monetary policy.

The article develops refined estimates of the tax revenues that would have been received by the United States Treasury if the income from municipals had been subject to full current-income taxation. It is explained that the tax-yield estimates will be divided between the investors in state and local securities and the issuers of such securities. The article examines the opposition to the taxation of municipals. The article also touches upon local debt and interest payments, and the difference in interest rates between taxable and tax-immune obligations.

The study investigates the empirical relationship between indirect taxes and economic growth in Pakistan. For estimation, the annual time series data (1974 to 2010) was used. The main purpose of the research is to find the long-run and short-run relationship between indirect taxes and economic growth. Philips Perron and Augmented Dickey fuller unit root tests were used to check the stationarity of every variable in the study. Auto Regressive Distributed Lag (ARDL) bounds testing approach for cointegrations (developed in 2001) was applied to estimate the long-run and short-run relationship among the variables. Indirect taxes have negative and significant effect on economic growth in long-run while its coefficents in short-run were insignificant. Due to one per cent increase in indirect taxes, economic growth would decrease by 1.68 per cent. ECM coefficient of indirect taxes shows 45 per cent speed of adjustment in a year. According to the research results it is imperative to decrease indirect taxes and increase the direct taxes, if we want to augment the economic growth. Currently, contribution of direct taxes out of total tax revenue is only 33 per cent and the share of indirect taxes is 63 per cent, while it should be reversed if economic growth has to increase. [ABSTRACT FROM AUTHOR]

Abstract: In February 2014, India's 14th Finance Commission added forest cover to the formula that determines the amount of tax revenue the central government distributes annually to each of India's 29 states. The Government of India estimates that from 2015 to 2019 it will distribute $6.9–$12 billion per year to states in proportion to their 2013 forest cover, amounting to around $174–$303 per hectare of forest per year. Assuming that contemporary forest cover will remain an element of the formula beyond 2020, Indian states now have a sizeable new fiscal incentive to protect and restore forests, contributing to the achievement of India's climate goals. India's tax revenue distribution reform creates the world's first ecological fiscal transfers (EFTs) for forest cover, and a potential model for other countries. In this article, we discuss the origin of India's EFTs and their potential effects. In a simple preliminary analysis, we do not yet observe that the EFTs have increased forest cover across states, consistent with our hypothesis that 1 to 2 years of operation is too soon for the reform to have had an effect. This means there remains substantial scope for state governments to protect and restore forests as an investment in future state revenues. [ABSTRACT FROM AUTHOR]