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The study has the goal of constructing an indicator and regions that allow to reveal early warning in relation to fiscal sustainability. For the achievement of the objective, the analysis part of the budget equation of the Government and, through the use of mathematic telescopic series properties, is built an indicator with rates of interest and economic growth that are variables over time, which makes it more general compared with those existing in the literature. In addition, in this work, for the first time, it manages to build sustainability regions which represent necessary and sufficient conditions for the analysis of the problem of debt over time. [ABSTRACT FROM AUTHOR]

Based on the analysis of five aspects of fiscal and tax policies, namely,direct financial investment, financial subsidies, tax preferences, preferential administrative fees and government purchase of services, the analysis finds that Chongqing' s elderly industry is inseparable from fiscal and tax policy innovation and comprehensive use of various fiscal instruments; the city's disadvantaged groups' support is ensured through financial investment to nurture elderly institutions. However, due to the lack of holistic thinking in industrial development, weak introduction of market mechanism and unreasonable system design, there are still problems such as narrow coverage of fiscal policies, large regional differences, weak market response, loss of social welfare and weak government purchase services. Therefore, an ecological view, coordinated development view and quality view of senior industry development should be established, the boundary between government and market should be clarified, and practical and effective measures should be taken to promote coordinated development between regions and within industry. [ABSTRACT FROM AUTHOR]

In 2017, Congress passed Sections 1400Z-1 and 1400Z-2 into the Internal Revenue Code, effectively codifying new tax legislation dubbed ‘Opportunity Zones.’ This legislation, which received bipartisan support, was meant to provide investors with a tax break to incentivize investment in low-income communities. The Opportunity Zone program is a substantial tax expenditure for Congress, and one that proponents believe can attract investment into parts of the United States suffering from diminutive economic growth. However, critics doubt this program will benefit those living in distressed communities, and fear that Opportunity Zones will instead promote gentrification while giving wealthy investors unnecessary tax breaks. It is unclear which side of the argument is correct because specific, detailed data illustrating the effectiveness of Opportunity Zones simply isn’t available. This Note will address why data collection is currently limited and proposes a solution at gathering more specific data to determine if Opportunity Zones truly benefit residents of low-income communities. [ABSTRACT FROM AUTHOR]

The artcle substantiates the expediency of assessing the environmental component of socialty responsіblе business at the maco Ievel іп the coordinates of sustainable development of the state іп accordance with the modem scientific approach. Methodical recommendations for assessing the social responsibility of the ргo-cessing industry and a system of economic and environmental indicators of sustainable development have been developed. The author's contribution to the evaluation system has been determined by sectoral indicatoгs of resoures and enйronmental capacity of gross value added. as well as specific indicators that соmbinе іnvestment and environmental components. on the basis of the developed methodical recommendations the estimation of ecological component of socially responsible business in the ргосеssіng industry of Ukraine, expert and complex estimation of positioning of sectос оn its соntributiоп to sustainabe development of the state has been carried out. It has been estabished that the processing industry is опе of Iow water-intensive sectors of the economy and at the same time the Iargest consumer of energy. In the sectoral structure of electricity use in Ukraine, the processing industry ranks first with a share of 42 %. The significant role of the subjects of the sector in the implementation of tasks оп investment and innovation of rational nature management has Ьееп shown. The processing industry is one of the carbon-intensive sectors of the economy: the Ievel of carbon capcity of the gross value added of the sector (156.4 t 1 UAH) is 3.4 times higher than the average Ieve1 in the economy. An expert and comprehensive assessment of the positioning of the processing sectос on its contribution to the sustainable development of the state has been conducted. It has been estabished that among the sectors of the economy the processing industry has a high Ievel of implementation of tasks reIated to investment support of innovations and reduction of eco-destructive impact on the епйгоптепt. The main directions and measures of development of socially responsible business in the processing sector have been substantiated. in particular: stimulation of economic entities to introduction of energy efficient technologies, есоІодісаІІу safe innovative productions by granting preferential credits and tax preferences; creating safe working conditions of aІІ Working, new jobs; formation of interpectoral рartnershір, introdution of adaptive mechanisms of interaction between the state, business and sосiety іп conditions of instability. The scientifc novelty of the study is to improve the methodological basis for assessing the environmental component of sьсіаІІу responsible business in the manufacturing industry on the basis of sustainable development. The practical significance of methodological recommendations has been determined by the possibility of their use by governing bodies of different Ievels іп 1he development of adaptive mechanisms for the development of socially responsible business. [ABSTRACT FROM AUTHOR]

The fruits of this collaboration were numerous, including Douglas A. Kahn & Jeffrey H. Kahn, FEDERAL INCOME TAX (8th ed. 2019); Douglas A. Kahn & Jeffrey H. Kahn, "Tax and Cross-Collateralized Nonrecourse Liability", 24 FLA. TAX REV. And, as we work with our own students or young lawyers, what greater motivation could there be than the hope that someday we may inspire in them the sentiments that Doug inspired in Professor Cauble, Professor Monroe, and numerous others? What higher praise could there be for a teacher than Professor Cauble's and Professor Monroe's words about Doug? We also see the above qualities displayed in various combinations in how Doug's peers, friends, family, and former students remember Doug. [Extracted from the article]

Despite the preparation by the State Tax Service of Ukraine of Reports on tax reliefs that are a loss of budget revenues, which indicate certain steps towards the introduction of the concept of tax expenditures in the budget process, the question of their quality remains open due to the uncertainty of the principles of distribution of tax reliefs into those that are losses of budget revenues and other tax reliefs, and due to the algorithm for calculating budget losses from the provision of tax reliefs. In view of the above, the purpose of the article is to determine methodological approaches to the formation of Directories and, accordingly, Reports of the State Tax Service of Ukraine on tax reliefs (on the example of VAT reliefs), that are losses of budget revenues, and on other tax reliefs and justification of the guidelines for improving the quality of such reports. Based on the analysis of concepts of benchmark tax system (tax) and tax expenditure and approaches to determining their main elements, the author formulates requirements for the structure of Directories of tax reliefs and Reports on tax reliefs, in particular, it is established that if the Directory of tax reliefs, which are losses of budget revenues should include only tax expenditures, then in the structure of the Directory of other tax incentives two components can be distinguished – "structural incentives", which are elements of the benchmark tax system, and special incentives that do not lead to the loss of budgetary revenues. In order to facilitate the identification and analysis, the main components of "structural VAT reliefs" in Ukraine, as well as types (groups) of reliefs that do not cause budget losses are identified, cases of unjustified classification of tax reliefs in the State Tax Service Directories are considered and proposals to change their classification are substantiated. Based on the calculations, it was identified which groups of reliefs predominate in the system of other reliefs, as well as in the reliefs that are losses of budget revenues. According to the results of the study, it was concluded that the amount of "structural reliefs" of VAT in Ukraine is 4.5 times higher than the amount of tax expenditures, which, if necessary, can be considered as a reserve for increasing tax revenues to the state budget of Ukraine. The shortcomings of the systematic accounting of VAT reliefs in the Directories of tax reliefs have been identified and proposals aimed at improving the correctness and completeness of their accounting have been developed. [ABSTRACT FROM AUTHOR]

ProUni is a federal public policy of tax exemptions for private Higher Education Institutions that grant scholarships to low-income students. The program has cost more than R$13 billion, and has provided degrees to roughly 500 thousand students. In an unprecedented way, this research tracked thousands of alumni using RAIS (Annual Social Information Survey), finding that a graduate from ProUni receives, on average, 30% more than a non-graduate equivalent. Converting this impact into salary mass, in order to contrast it with the tax expense in a cash flow, we conclude that, in a conservative scenario, the policy’s Net Present Value would have reached over R$ 38 billion. Based on analyzes disaggregated by courses, the recommendation is that scholarships be focused on graduations that improve the collective benefit. [ABSTRACT FROM AUTHOR]

Copyright of Journal of Economics Business & Finance Research / Ekonomi İşletme ve Maliye Araştırmaları Dergisi is the property of Irfan Ersin 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.)

We study the implications of changes in the mix of taxes, public spending, and public finance in the Eurozone. In so doing, we build a general equilibrium OLG model that naturally incorporates all the main categories of public spending and taxes. We focus on the medium- and long-run implications of permanent reforms in the actual policy mix. When we depart from 2008, the best way out of the recession would be an increase in public spending on education and health and in turn cuts in distorting taxes including social security contributions. When we depart from the year 2017, which features a higher inherited public debt, public debt consolidation becomes the superior reform to the extent that the focus is on the medium and long run. [ABSTRACT FROM AUTHOR]

The Irish party system has been an outlier in comparative politics. Ireland never had a left-right divide in parliament, and for decades, the dominant centrist political parties competed around a centre-right policy agenda. The absence of an explicit left-right divide in party competition suggested that Irish voters, on average, occupy centre-right policy preferences. Combining survey data since 1973 and all Irish election studies between 2002 and 2020, we show that the average Irish voter now leans to the centre-left. We also show that income has recently emerged as a predictor of left-right self-placement, and that left-right positions increasingly structure vote choice. These patterns hold when using policy preferences on taxes, spending, and government interventions to reduce inequality as alternative indicators. We outline potential explanations for this leftward shift, and conclude that these developments might be anchored in economic inequalities and the left populist strategies of Sinn Féin. [ABSTRACT FROM AUTHOR]

Copyright of Al Bashaer Economic Journal is the property of Al Bashaer Economic Journal 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.)

We analyze a stylized creative region's economy. There are two goods (consumption and creative capital) and creative class members differ in their income generating abilities. The distribution of abilities in the creative class population is such that the median ability is less than the average ability. There is a proportional income tax rate and all tax revenues are redistributed to the creative class members by the regional authority (RA) with a uniform, lump-sum transfer. In this setting, we perform four tasks. First, we determine the tax rate that maximizes the lump-sum transfer. Second, we show that income equality requires the tax rate to equal unity and that the poorest creative class member is better off with a lower tax rate and hence more inequality. Third, given the ith creative class member's preference over the tax rate and the transfer, we ascertain the tax rate that will be chosen by majority voting. Finally, we discuss the connection between increasing inequality and the majority chosen tax rate. [ABSTRACT FROM AUTHOR]

This study examines the size and diversity of tax expenditures (TEs) by gminas (municipalities) in Poland between 2007 and 2019. Consequences of gminas' taxing power and the reduction of revenues resulting from statutory tax preferences were taken into account. To analyze the data, we used: scatter graphs (showing the relationship between two selected variables) and plot graphs (showing the course of the values of the studied variables over time, to show the dynamics of the phenomena). The scatter graphs showed, sometimes strong, linear correlative relationships. No clear curvilinear relationships were found, therefore we applied Pearson correlation. Gminas used TEs to a small but also highly variable extent. The factors determining their use involved: the type and potential of the gmina; the type of local tax. The research hypothesis was partially positively verified. The increase in the incremental % of TEs' share in tax revenue has a positive impact on the incremental trend of revenue growth in the following year. The use of TEs in real estate and vehicle taxes may have strengthened the revenue potential of some gminas in the consecutive years. [ABSTRACT FROM AUTHOR]

The article reports that the invoice recipient has claimed the input tax deduction, the tax amount owed due to the unauthorized tax ID must be corrected in accordance with Section 14c (2) UStG for the period in which the invoice recipient pays the input tax back to the tax office. Topics include considered that the time of the request for correction at the tax office or that of an invoice correction is irrelevant.

In 2014 the South African government implemented a youth employment tax incentive (YETI) scheme to address the high rate of youth unemployment. Its adoption has been hailed as a success story for evidence‐based policy. This article critically assesses that claim, focusing on the randomized trial of a wage‐subsidy voucher that was used to justify the adoption of the policy and econometric analyses of the incentive's efficacy that were used to justify its renewal. That evidence is shown to be materially flawed. The design of the randomized trial meant that its relevance to the policy question was limited and critical issues pertaining to the estimated effect of the intervention, external validity and scale‐up were not addressed. The process was similarly flawed, with evidence only made public after critical legislative decisions had been taken. Analysis of that process shows how supposedly rigorous evidence was used to obscure the limitations and risks of the proposal in service of pre‐existing positions, vested interests and political imperatives. This implies a high opportunity cost for the tax expenditures incurred through the incentive. The South African YETI thereby serves as a cautionary tale on randomized trials and the political economy of evidence‐based policy, particularly in developing countries. [ABSTRACT FROM AUTHOR]

The article focuses on tax expenses for a home office with a plea for a tax simplification and regulation of the deduction of business expenses and the expenses for a home study. It mentions taxpayer can make expenses for a home study not as a business expense or deduct advertising costs. It also mentions Section 52, Paragraph 12, Clause 9 of the Income Tax Act, the one created with the Annual Tax Act 2010 applies new regulation and deduction of income-related expenses.

The article focuses on arise in the context of two legal disputes between E and the Finanzamt N (Germany) and between Z and the Finanzamt G (Germany). Topics include reports that the subject of these legal disputes is the refusal of these tax offices to recognize the input tax deduction asserted by E and Z, as no allocation decision recognizable for the tax offices has been made by the end of the statutory submission period for the annual sales tax return.

The article reports that anyone who, after studying the final motions in this legal case several times like the author had hoped that the ECJ would deal with the fundamental questions raised there, is likely to feel disappointed. Topics include considered that in her plea, the Advocate General had dealt in great detail with the reasons and the amount of the criteria for the occurrence of the input tax deduction.

A common misperception among some financial service professionals is that an individual with a 529 plan who is paying for higher education costs should pay the first $4,000 of tuition and fees per year either out of a checking or savings account or out of a loan in order to take full advantage of the federal income tax credit or deduction and then pay the remainder out of the 529 plan. This article explains that the full amount of higher education costs can be paid out of a 529 plan and the maximum federal tax credit or deduction will still be received. [ABSTRACT FROM AUTHOR]

As a modern means of transportation, the automobile plays an important role in people's travel. However, the environmental and energy problems brought by the automobile industry cannot be ignored. Based on unique Chinese urban and new car registration data, this paper empirically analyzes the emission reduction effect of car purchase tax incentives, its spatial heterogeneity, and impact on car consumption structure using difference-in-difference model, regression discontinuity design model, and other methods. We find that the tax incentives can effectively suppress the emission of urban pollutants. The quantile regression shows that the emission reduction effect of the tax incentives shows a dynamic change characteristic of weakening as the pollution level in cities increases. In addition, tax incentives for the purchase of low-energy consumption vehicles increase the market share of small-emission vehicles and change the consumption structure. [ABSTRACT FROM AUTHOR]

The financial sustainability of local governments is of great importance for the efficient delivery of public services in the local area. In this study, the long-term relationship between the variables of budget revenues-budget expenditures and tax revenues-budget expenditures for local governments in seven geographical regions in Turkey in the period 2010:Q1-2019:Q1 was investigated. In the research phase, were used second generation panel unit root tests and cointegration techniques within the framework of the financial sustainability procedure determined by Hakkio and Rush (1991) and Quintos (1995). In the relevant period, it was concluded that budget deficits were sustainable in weak form for the local governments in the seven geographical regions according to both budget revenues and tax revenues. [ABSTRACT FROM AUTHOR]

Copyright of Hacettepe University Journal of Economics & Administrative Sciences / Hacettepe Üniversitesi Iktisadi ve Idari Bilimler Fakültesi Dergisi is the property of Hacettepe University, Faculty of Economic & Administrative Sciences 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.)

Financial equalization of the development of the territories of Eastern European countries directly depends on the order of distribution of functions between public entities and the order of distribution of expenditures between states and individual territories. The studied countries of Eastern Europe belong to the less developed regions, whose GDP per capita is less than 75% of the EU average GDP. In the countries of Eastern Europe financial equalization is mainly based both on the functioning of funds (as an instrument of inter-budgetary balancing) and based on the analysis of tax revenues and expenditures of the territory. The dependence between equalization of expenditures of territories and socioeconomic characteristics of their development. However, it is established that the quality of life is not significantly affected by financial subsidies. Improving the efficiency of the use of financial resources to increase the quality of life may be promising for further research. [ABSTRACT FROM AUTHOR]

In an effort to limit the effects of the COVID-19 epidemic determined by restrictions in economic activity and various areas of social activity, the catalogue of preventive actions was expanded by tax and legal instruments in the form of income tax reliefs inclining taxpayers to certain behaviours. The reliefs entitle taxpayers to deduct the value of donations made for the purposes of counteracting COVID-19 from the tax base. Two types of such donations have been distinguished, i.e., donations for entities participating in the treatment of infected persons and donations for educational institutions providing remote education. The aim of this article is to establish the premises justifying the claim that the tax reliefs for donations made by income tax payers are autonomous in relation to other tax preferences available to taxpayers making donations for other socially useful purposes. The hypothesis about the ad hoc and temporary nature of these tax reliefs has been verified as true, and the dominance of the motivating and stimulating function over their fiscal function has been demonstrated. Symmetrical solutions have been identified in the legal structure of the subject tax reliefs, as the donor uses a deduction from the tax base, while the recipient does not include the accepted donation in their income. The study uses the legal-dogmatic method and, in addition, the empirical analytical method to present the jurisprudence of courts in the field of applying tax reliefs due to donations made by income tax payers. [ABSTRACT FROM AUTHOR]

This paper asks when a wealth tax would, in principle, be a desirable part of the tax system, setting aside the practicalities and politics that would be crucial in reality. The case for a one‐off wealth tax is simple. If it were unexpected and credibly one‐off – a major challenge in practice – this would be an efficient way to raise revenue and could be used to address existing wealth inequality. Whether such a tax is desirable hinges on whether it is considered fair, about which reasonable people will differ. Making the case for an annual wealth tax, which would affect future wealth accumulation as well as existing wealth, is less straightforward. It requires explaining why it is better to tax the same wealth every year – penalising those who save – rather than raising the same revenue by taxing all sources of wealth once when they are received (and/or when they are spent). Such a case can be made based on subtle arguments for why taxing wealth might help to ease the trade‐off between redistribution and work incentives; and a wealth tax might also be justified if holding on to wealth, rather than spending it, benefits the holder or harms others. These theoretical arguments probably justify some taxation of wealth in principle, though we have little basis for judging the appropriate level, so only part of the theoretical benefit could be attained. It is questionable whether the achievable benefits outweigh the costs of an imperfect wealth tax in practice. There are strong reasons to radically reform how we currently tax the sources/uses of wealth; this includes reforming capital income taxes in order to properly tax high returns. An annual wealth tax would be a poor substitute for doing that. But to the extent that taxes remain imperfect and that responses to a wealth tax would not affect revenue from other taxes (such as on income, expenditure and bequests), there may be a benefit to adding a wealth tax in order to diversify sources of revenue and prevent any one tax getting too high – though that must be weighed against the extra administrative burdens of having another tax. [ABSTRACT FROM AUTHOR]

Stanley Surrey (1910-1984) was arguably the most important tax scholar of his generation. Surrey was a rare combination of an academic (Berkeley and Harvard law schools, 1947-1961 and 1969-1981) and a government official (Tax Legislative Counsel, 1942-1947; Assistant Secretary for Tax Policy, 1961-1969). Today he is mostly remembered for inventing the concept of tax expenditures and the tax expenditure budget. This paper will argue that while Surrey was influential in shaping domestic tax policy for a generation and had an impact after his death on the Tax Reform Act of 1986, his longest lasting contributions were in shaping the international tax regime, since the concept of the single tax principle that shapes contemporary international tax reform efforts can be traced directly to his writing and activities both in academia and in the government. [ABSTRACT FROM AUTHOR]

Copyright of Law Studies Journal / Revista Novos Estudos Juridicos is the property of Novos Estudos Juridicos 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.)

This paper illuminates one mechanism by which democracy may fail to mitigate income inequality despite a widespread preference against it. When income inequality aversion is prevalent, high‐skilled, higher‐wage workers may adjust their working time to reduce inequality. However, the decrease in societal efficiency due to forgone high‐skilled labor outweighs an increase in efficiency from lower‐skilled workers. This implies that a pivotal worker may reject strong redistribution in favor of overall efficiency. Moreover, if the pivotal voter believes that a socially prevalent aversion already mitigates income inequality, a lower tax preference is further reinforced. [ABSTRACT FROM AUTHOR]

Tax professionals commonly search large databases of information to identify tax authority necessary to provide compliance and planning advice to clients. Prior research indicates tax professionals' information search processes are subject to confirmation bias in the direction of client preferences and that this bias can lead professionals to make overly aggressive recommendations. However, very little is known about how time pressure may affect tax professionals' judgment and decision-making processes. This study contributes to practice and to the time pressure and decision bias literatures by providing theory and evidence that increasing time pressure leads to confirmation bias during tax information search and that time pressure enhanced confirmation bias affects recommendations through professionals' assessments of the evidential support for the client-preferred position. With an understanding of how time pressure can influence confirmation bias in information search, professionals and their firms can take steps to manage time pressure and its potential biasing effects. [ABSTRACT FROM AUTHOR]

Dyreng et al. (2017) find that the effective tax rates for both foreign and domestic firms have been steadily decreasing during recent decades and that multinational firms (MNEs) do not have a tax advantage relative to domestic firms. This paper extends this research and examines implicit taxes for MNEs relative to domestic firms. We find evidence that implicit taxes are approximately 32 percent lower for MNEs. We exploit differences in the exposure to various market frictions to help explain how MNEs could have lower implicit taxes than domestic firms. We find that MNEs face less competition, operate in countries with higher unemployment rates, use patents more frequently, tend to have more global supply chains, and are more vertically integrated when compared to domestic firms. We also find that firms with relatively higher product concentration and relatively lower product similarity exhibit approximately 35 percent lower implicit taxes. [ABSTRACT FROM AUTHOR]

From May 2005 to August 2007, the Securities and Exchange Commission (SEC) initiated a pilot program under Regulation SHO, temporarily exempting one-third of the Russell 3000 index firms from short sale price tests (pilot firms), reducing short selling costs. In additional analyses, we observe that pilot firms led by executives whose personal wealth is likely more affected by a decrease in stock price have greater tax footnote readability than non-pilot firms during the pilot period. During the Regulation SHO period, pilot firms had significantly higher tax footnote readability than non-pilot firms. We also find a significant difference in tax footnote readability between tax aggressive pilot firms and tax aggressive non-pilot firms during the Regulation SHO period. [Extracted from the article]

The article focuses on input tax deduction for mixed-use assets and services has always been problematic in general. Topics include considered that it becomes exciting when an input power can not only be assigned to a specific output power, but not at all to a specific affiliated company and the conclusion would appear that, as a rule of the input tax allocation, an input tax key, dogmatically stringent, is only to be formed uniformly from all sales of the entire group of companies.