Lennart Flood and Nizamul Islam
According to the Eurostat the old-age dependency (people aged 65 or above relative to those aged 15- 64) in the EU will rise from 28% in 2010 to 58% in 2060. During the same period total hours works are projected to fall contributing to a low projected economic growth over the next half-century. In this paper we argue that this gloomy picture might be challenged by an increase in the employment rates of older workers. Using Sweden as an illustration we show that the ratio of individuals with income from both pension and market work has increased strongly during the last decade. During the same period economic reforms have been introduced creating economic incentives in order to delay the exit from the labor market. In this paper we demonstrate the importance of these economic reforms in explaining increased working hours. The paper also evaluates the fiscal impact of the increase in the employment rates.
Legal certainty is central to taxation decisions. This article describes the current legal situation and discussions in four Nordic countries. Sweden and Finland are specialized in dealing with taxation cases in administrative courts. In Denmark and Norway, no specialization exists in taxation cases. I maintain in this article that legal certainty would benefit from explicit signals from the state about the requirement of special knowledge and unbiasedness in authority and court decisions. These signals could well take the form of specialization in the courts. The need for specialized expertise is particularly extensive in tax law. It is also crucial for the agencies’ officials and judges to be aware that a subjective sense of unbiasedness in decision making does not necessarily mean that the unbiasedness aimed for has been attained. Self-awareness of this kind would ensure that argumentation and grounds for decisions would be made credible and transparent, to the benefit of legal certainty.
Due to financial crisis many entrepreneurs suffered heavy losses on currency options and forward contracts. Tax authorities tend to disallow deduction of those losses from the taxable income. Many cases ended up in administrative courts, resulting in judicature controversies on the issue in question. This paper is the first of four in a cycle. The aim of the whole cycle will be to analyze deeply these controversies and suggest the proper interpretation of the legal provisions, determining whether losses on currency options and forward contracts should or should not be regarded as tax-deductible expenses. The aim of this paper is to determine the scope of the problems to solve as well as to analyze the legal character of the loss on non-deliverable currency options and forward contracts. Therefore this legal character has been determined in the light of Polish corporate income tax act. What is more, the problems with the interpretation of these losses as indirect deductible expenses have been solved.
Rafał Cieślak and Beata Marczewska
Public-private partnership (PPP) is an alternative form of delivering public services by the private sector. The concept of hybrid PPPs developed by the European Commission puts emphasis on integration of the EU funding with the commercial financing supported by private investors. The Commission has introduced a number of advantages of so-called “blended” projects, and among them are: the opportunity to implement undertakings which otherwise would not be exclusively financed by commercial sources or reducing financial risk of projects. Hybrid PPPs demand respect for basic EU principles such as open market access, state aid regulations, protection of public interest and defining the optimal level of subsidization. In Poland PPP has been developing since 2009 when the legislation on PPP and concessions entered into force. The Polish legal framework allows the formation of hybrid PPPs according to the EU concept. Hybrid projects may be realized in a different variants, defining private partner’s role as a beneficiary or operator of the co-financed infrastructure, or mixed types of his engagement in projects.
Submitted article contains reflections on unfair terms in consumer contracts in the banks’ practice. The origin and the meaning of the unfair consumer terms are presented as well as their varies in legal aspects in banking practice. Every spotted sphere is filled with examples of unfair consumer terms. The article is an attempt to answer the question about the reasons of usage of unfair terms in consumer contracts by the banks – public confidence institutions – which are responsible for usage over 7% of all unfair terms, ruled by the court of competition and consumer protection.
Regional policy in the European Union becomes more and more important every year, especially in the last few years. As the experiences of the European Union show, structural programs or other forms of support are most effective when realized in the regions, for the regions and through the regions.
The role and position of the regions in the EU strengthens every year. In the following years, regions will work and participate in the EU budget even more intensively. Therefore, there will be more and more programs and grants to be realized in the regions and through the regions.
One of the categories of public expenditure are, inter alia, funds intended to pay as compensation to taxpayers who have been harmed by the tax authorities as a result of issuing faulty tax decision. The purpose of this article is to draw attention to the fact that these are expenses that can be avoided.
Liability is one of the foundations of a democratic state of law. It is not permitted to hand over taxpayer risk associated with the exercise of power. All damages caused to the taxpayer as a consequence of faulty tax decision should be compensated. Therefore, minimizing the amount of compensation should be done by preventing contempt of the law and improving the quality of tax legislation.