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Sales tax is generally not included in the advertised price quoted to consumers in the United States. In contrast, value added taxes (VAT) are embedded into the price in most other countries. This article investigates how the two different pricing structures and consumers' decision-making process affect the intensity of price competition. The two pricing structures yield identical market outcomes with fast-computing consumers who are willing and able to recompute the exact sales tax each time there is a price change. With slow-computing consumers, prices and profits are higher when sellers quote and compete in prices without sales tax. In this case, a model extension with two-stage decision making shows that the entire tax burden is shifted to the consumers when they completely ignore sales tax during their initial search. Key words: price competition, price comparisons, sales tax, value added tax, fast and slow-computing consumers, mental accounting, inattention, consumer decision making JEL classification: D43, H29, L13, M3, 1. Introduction The last stage in the supply chain of any product or service is the final sale to the consumer. Governments levy a tax on this final transaction which [...]

The article explores the peculiarities of harmonizing legislative norms of financial and tax law within the framework of public legal regulation. It is established that the norms of financial and tax law shape the rules for managing the financial system and taxation, contributing to a balance between the state’s needs for financial resources and the preservation of economic stability for citizens and businesses. The demarcation of norms of financial and tax law by the subject of regulation is characterized, emphasizing the common method of legal regulation. It is determined that the norms of financial law regulate budgeting, financial planning, state debt, financial accounting, financial stability, and additional sources of funding. Norms of tax law cover tax rates, tax incentives, tax accounting and reporting, and combating tax evasion. It is noted that due to the common features and subject of legal regulation, conflicts arise between the norms of financial and tax law. It is established that the public legal regulation of conflicts between the norms of financial and tax law involves a systematic and organized process aimed at harmonizing legislative norms and resolving conflicts through the activities of the executive authorities of Ukraine. The competencies of central executive authorities that contribute to the harmonization of norms of financial and tax law are characterized. It is determined that the Cabinet of Ministers of Ukraine, the Ministry of Finance, the State Tax Service, the Ministry of Justice, and the National Bank of Ukraine play a key role in resolving conflicts and coordinating strategies in the financial and tax sectors. It is noted that central executive authorities coordinate and cooperate for systematic conflict management and the achievement of harmony in financial and tax legislation. The efficiency of harmonizing norms of financial and tax law is ensured by creating an Interdepartmental Committee, conducting consultations and discussions, as well as adopting and implementing harmonized subordinate legislative acts. Attention is drawn to the fact that the effectiveness of harmonizing norms of financial and tax law is determined by the efficiency of the procedure for developing harmonized subordinate legislative acts conducted by central executive authorities. [ABSTRACT FROM AUTHOR]

Copyright of Türkiye Adalet Akademisi Dergisi is the property of Justice Academy of Turkey 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 article analyzes the legal nature of crypto assets in Russian legislation and the specifics of their taxation, focusing on the need to form a legal framework that promotes effective protection of the rights of participants in the turnover of crypto assets.The methodological basis of the research is the dialectical method, the formal logical method, the formal legal method and the method of interpretation of law.The lack of a unified terminology base in the field of digital economy in Russian legislation creates additional difficulties in creating comfortable conditions for the development of the crypto asset market. Currently used various terms such as “virtual assets”, “digital assets”, “crypto assets”, “cryptocurrency” are not fixed in the current legislation. At the same time, the terms existing in Russian legislation do not allow for effective regulation in the field of taxation and civil turnover, since they intentionally exclude the most common crypto assets from their scope. Without clear and unambiguous legal regulation, it is difficult to ensure proper control and taxation of transactions with crypto assets, which can lead to significant tax losses and a decrease in budget revenues.Moreover, the concept of “digital currency” used in Russian legislation does not correspond to the generally accepted meaning in international practice and is mainly considered in an economic context, rather than in a legal one. Such a discrepancy in terminology creates additional difficulties for participants in the cryptocurrency market and creates obstacles to the formation of an effective legal framework for the regulation of the digital economy. According to the results of the study, it was concluded that the current approaches to the development of the terminological apparatus of the regulation of crypto assets have flaws, since they allow for a mixture of concepts and do not imply the formation of a clear hierarchy. The definition of “the digital asset” is proposed for the purpose of filling existing terminological gaps in the current legislation.

From the standpoint of social development, the family cannot be considered the basis of the authoritarian state, only as one of the most important institutions which support it. It is, [...]

We investigate whether the Tax Cuts and Jobs Act (TCJA) of 2017 motivated firms to increase capital investments. Using a unique approach that identifies firm-level tax benefits and incentives introduced by the TCJA, we find that firms that realized tax benefits increased their investment in fixed assets in the following year. Specifically, as a result of the change, an increase in forecasted earnings and an increase in nonrecurring tax benefits stimulated growth in capital investments. We also find that the investment-inducing effect of the TCJA was larger for firms with a higher cost of capital and for those with better alignment between management and shareholder interests. Although our study is not able to explain the long-term consequences of TCJA, it improves upon the previous literature demonstrating that the mixed findings of previous studies may be the result of the unequal distribution of tax benefits among firms. [ABSTRACT FROM AUTHOR]

This article provides an overview of the understanding of the concept of digital economy within Ukrainian legislation, legal doctrine, economic science, and documents from the Organization for Economic Cooperation and Development (OECD), particularly in Action 1 of the BEPS (Base Erosion and Profit Shifting) Action Plan, which aims to develop rules for the taxation of the digital economy. During the analysis, the author focused on defining the concept of digital economy, describing its characteristic features as a phenomenon, and examining its impact on taxation. Specifically, conclusions were drawn regarding the distinctive traits of the digital economy that contribute to the erosion of the tax base and the shifting of profits out of taxation, thus leadi ng to overall tax avoidance. Based on the conducted analysis, it was determined that Ukrainian legislation and legal science predominantly operate with a narrow understanding of the concept, equating the digital economy with activities in the IT sector. Economic researchers primarily interpret this concept as an evolution of business practices resulting from the industrial-technological revolution and a consequence of the digitization of business processes. The understanding of the digital economy within the OECD is similar to that found in Ukrainian legal science. Additionally, the article examined the characteristic features of the digital economy highlighted by the OECD, such as asset mobility, functions, personnel, sources of profit, data utilization and collection, and user participation in data creation and value addition. Furthermore, the research demonstrated why the narrow understanding of the digital economy in legislation and legal science negatively affects the lawmaker's ability to fairly regulate relationships in the realm of digital economy taxation. In conclusion, a hypothesis was proposed regarding the understanding of the digital economy as a socio-economic phenomenon. A definition of the digital economy was suggested to guide legislative efforts in regulating the digital economy, particularly concerning its taxation. [ABSTRACT FROM AUTHOR]

Tax is a complex legal and economic category, conditioning the functioning of the state, affecting the entire economic circulation. The economic significance of the tax is related to the change in the income and property situation of the subjects paying the tribute. Payment of tax influences the decisions made by economic agents in the sphere of savings, consumer spending or economic decisions. Taxes are the primary means of collecting public revenue and financing expenditures. It should be emphasized that, from the point of view of the science of finance, any economic, legal phenomenon that has all the above-mentioned characteristics is a tax, even if the name used by the legislator indicates a completely different nature of the legal and economic relationship, e.g. customs duty, fee, contribution, "voluntary payment", etc. There is a consensus in the literature that a tax should be characterized by six features: gratuitousness, compulsory, non-refundable, monetary form, generality and unilateral imposition.

This study aimed to assess the influencing factors affecting the utilization of Electronic Fiscal Devices (EFDs) among Value Added Tax (VAT) registered traders in Hawassa city. Employing an explanatory research design with a mixed research approach, both primary and secondary data sources were utilized. Through stratified random sampling, a representative sample of respondents from various business types was selected. Questionnaire data was analyzed using SPSS software version 26, employing descriptive statistics such as frequency, percentage, mean, and standard deviation. Additionally, inferential statistics including correlation and multiple linear regression analysis were applied to identify key factors impacting the use of EFDs among VAT registered traders. Qualitative analysis of interview data was employed to triangulate the quantitative findings. The study's outcomes indicated that inadequate training for VAT registered taxpayers, high costs of EFDs, lax tax law enforcement, and taxpayers' perceptions were significant factors influencing EFD utilization. Consequently, the study recommends that revenue authorities provide pertinent technical training, federal revenue offices subsidize EFD purchasing and maintenance costs, and governmental efforts ensure the inclusion of all eligible taxpayers in EFD usage. [ABSTRACT FROM AUTHOR]

Developments in international legislation and the growing digitalization of tax law support the advancement of global networks between tax authorities. We are witnessing an integration of databases that will lead to increasingly intense coordination of the fight against tax evasion at a supranational level. As in social networks and digital commerce, databases are gradually enriched, contain progressively precise information on the individual taxpayer and use common languages that allow for automated exchanges of information. While waiting for the creation of a global database - not conditioned by the constraints of reciprocity and abstractly usable by all authorized entities who need it - the first risks of limitation of the taxpayer's rights are emerging. In fact, these phenomena have dark sides that are starting to emerge in use, at a national level and with respect to individual taxpayers, of interpolated databases. Moreover, a growing amount of information flows from heterogeneous and increasingly widespread sources, sometimes not protected by the requirements of professionalism, legality and public trust since data collection and entry can be delegated to economic entities, intermediaries and consultants. The absence of an authority responsible for the unitary management of global databases and for the resolution of their conflicts, the slow and timid affirmation (only in some national systems) of the taxpayer's right of access to information concerning them, the difficult configuration of the faculty to request the correction of erroneous data and of the specular public power to remove the reported inaccuracies, weaken the system of protections gradually erected to protect the taxpayer's position. In this way, the coordination of national systems that contemporary tax law creates is strongly unbalanced on the side of the protection of tax interests. International and European tax law should instead provide greater guarantees in favor of the taxpayers, defending their right to fair taxation. [ABSTRACT FROM AUTHOR]

In this article, the author examines the legal nature and content of the EU founding treaties in the part of their impact on the regulation of tax relations. Having the nature of international legal acts, the EU founding treaties emerge as a result of the treaty process. They are aimed at establishing the European Communities and the European Union itself with the relevant functions and tasks. As a result, these treaties form the legal basis for the functioning of the entire EU structure. They also create an international treaty-based integration mechanism for future members, which is carried out within the framework of the latter. This functional system is a set of international agreements that guide the development of integration processes for the entire association. In the context of demonstrating the taxlegal dimension of the EU founding treaties, we distinguish the understanding of the EU founding treaties in three aspects. Taken together, they will be defined as the result of the systemic action of specific legal and social factors that influence the nature, usefulness and appropriateness of the regulation of tax relations within the EU. Firstly, the founding treaty as the primary act of EU tax law itself is expressed in the fact that the legal norms enshrined in the founding treaties form the constitutional basis - the fundamental legal framework, the basis of the legal order of the European Union. It is a primary law that can be compared and equated with national constitutional provisions. The rules of primary law directly give rise to rights and obligations of both Member States and individuals (natural and legal) of these states, and this trend is no exception in the tax area. Today, the functioning of the legal order of the European Union is based on the Lisbon Treaty, which includes the Treaty on European Union and the Treaty on the Functioning of the European Union. They demonstrate the primary foundations of tax and legal regulation: the key feature of tax regulation is the fundamental principle of harmonisation of tax legislation of the EU Member States. This is implemented in the process of creating and using various legal forms (legal acts) that enshrine the rules of tax integration law created by EU legal institutions. Secondly, the founding treaty is an act of defining and establishing secondary acts of tax law. And this is reflected in the fact that the provisions of the Treaty on European Union and the Treaty on the Functioning of the European Union, which relate to and define the basis of tax regulation within the EU, are both law-making and law-implementing. Thus, the tax-legal dimension of the EU founding treaties can be considered both as a rule-making constant of provisions that determine the specifics of legal acts envisaged by the founding treaties, their legal nature and peculiarities of adoption. Moreover, as a law enforcement constant of provisions regulating the harmonisation of taxation legislation, approximation of laws in this area and other provisions that may be relevant to taxation. Thirdly, the actual content of the founding treaty with tax-legal elements. This is because EU tax regulation is aimed at the continuous operation of the single market. Therefore, the enshrined legal provisions are mainly related to indirect taxation (value added tax, excise duties, import duties, energy and other environmental taxes). However, the provisions of EU tax law limit the sovereign taxation rights of EU Member States in the area of direct taxation mainly when the object or subject of taxation has a connection with two or more EU Member States. [ABSTRACT FROM AUTHOR]

Copyright of Journal of Near East University Islamic Research Center / Yakın Doğu Üniversitesi İslam Tetkikleri Merkezi Dergisi is the property of Journal of Near East University Islamic Research Center 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.)

Copyright of Environmental & Social Management Journal / Revista de Gestão Social e Ambiental is the property of Environmental & Social Management 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.)

This article analyses how South African courts have decided the applicability of the de minimis non curat lex maxim and, more broadly, considered the de minimis concept in tax law. A doctrinal research methodology is employed with the focus on an analysis of predominantly reported judicial decisions. The applicability of the maxim is found to be decisive in only one tax case: the Diageo SA (Pty) Ltd v Commissioner for the South African Revenue Service case of 5 July 2023. Consequently, this study thus also reviews judicial precedent in respect of the applicability of the maxim in other areas of the law with consideration of the relevance to tax law. Further, several tax cases that refer to the broader de minimis concept or to trivial or trifling matters are examined. As there is no one definitive test to determine the applicability of the maxim, the courts have used several factors to guide their determination. Through inductive reasoning, the following conclusions are drawn. (i) In respect of statutory interpretation: First, the primary factor in the determination of the applicability of the maxim is the purpose of the provision. This is aptly demonstrated in the Diageo judgment. Secondly, where the statute sets a clear, objectively verifiable limit or amount, there is essentially no room for the application of the maxim in interpreting the statute. Where, however, no such verifiable basis is provided, a purposive interpretation is paramount – which may in fact require the application of the maxim. (ii) The use of the de minimis concept in tax law appears to depend on whether the matter is one of principle (substance) or practicality (administrability). In the former case, the amount (the factor of extent or value) is irrelevant whereas in the latter, the de minimis concept has been applied.

The purpose of the article is to develop a criterion for structuring the branch of tax law relevant for the period of digitalization.The methodology of the study includes an analysis of regulatory acts of tax legislation regulating the legal regulation of digital transformation of taxation.The main results and the scope of their application. Due to the lack of a single criterion for the formation of the structure of tax law (in different years, the tax system or the system of tax legislation was considered as such), obstacles are created in the unambiguity of understanding the system and types of tax law institutions. This leads to a number of practical problems related to the “alignment” of new tax law norms that appeared in the digital era into the “classical” tax legal relationship.Conclusions. The criterion on the basis of which the modern legislator, as well as representatives of the tax and legal doctrine, divides tax law into institutions is a controversial issue of the relevant branch of science. Such uncertainty does not give an unambiguous understanding of the legal nature of new tax law institutions, for example, the institute of a single tax payment. At the present stage, it would be logical to use the category of “tax obligation” as a kind of link in the system of tax law, which is predetermined by its fundamental role in tax and legal regulation.

Objectives The aim of the article is to theoretically present ways of legally optimising the taxation of entrepreneurs' income, by using the appropriate construction of legal regulations and legal and organisational forms of business. The issues of tax risk in the context of tax management are also presented. The goal of management is to reduce economic risk and to protect against its consequences. Material and methods Research in the social sciences, is inspired by numerous and diverse needs. Therefore, we will reduce the existing needs to two main types, to which certain types of research correspond. The first is combined with needs of a theoretical or cognitive nature, that is, it includes all those needs that are associated with the development of a particular science. The second is combined with the various needs of practice. Results Income taxes also have a negative impact on the assets (equity) of entrepreneurs. The reduction in wealth results from the burdening of entrepreneurs with both wealth taxes and corporate income tax in the case of capital companies and, in the case of partnerships, with personal income tax for distributions made to partners. Conclusions Both of these risks describe a potential reality, i.e. the possibility of coming into conflict with the tax authorities. Their realisation is random, with the so-called double randomness - both the timing of the event (conflict) and its depth, i.e. the consequences, are unknown. These effects are mainly financial (arrears incurred, financial sanctions, etc.), although loss of credibility, for example, may also be involved. Importantly, both risks are linked to uncertainty, but each with a different one. Speculative risk is linked to the uncertainty of whether an illegal act will come to light.