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1 Introduction Due to its revenue-raising potential, value-added tax (VAT) has become one of the most popular tax levies in the world. According to the statistics of the Organisation for Economic Co-operation and Development (OECD), the number of countries applying VAT increased from 10 in 1969 to 166 in 2016. As a result, VAT generates currently about one-fifth of global tax revenue. As is often indicated in the economic literature, VAT prevalence is a testament to its important virtues, such as efficiency, relative neutrality, simplicity, transparency


Commercial discounts accounting presents a particular importance because, on the one hand, of their widely spread on a large scale in the commercial activity and on the second hand, due to the influence of the accounting and reporting method over the value added tax. The paper theoretically addresses commercial reductions and also their reflection in the accounting according with the latest regulations in force.

Strategies. Financial Analysts Journal, 71(2), pp. 16-29. Council Directive (2006). Council Directive 2006/112/EC of 28 November 2006 on the common system of value added tax, Official Journal of the European Union, L 347/1 Deloitte (2015). International tax. Montenegro Highlights 2015, available online at De Gregorio, J. (1993). Inflation, taxation, and long-run growth. Journal of Monetary Economics, 31(3), pp. 271-298. Eller, M. (2009). Fiscal position and size of automatic stabilizers in the CESEE EU Member States-implications for


Welcome to the second issue of the International Journal of Management and Economics this year (volume 54). In this issue, we offer three papers in management and three in economics. Five of them are based on original empirical research, and there is one paper of conceptual character. As is usual in our Journal, we offer a vast geographical coverage and international perspective – one paper is dedicated to the Eurozone, one focuses specifically on the consequences of Brexit to Polish export, and yet another evaluates the efficiency of value-added tax (VAT) in

Annex 3 are a summary of the approved aid per country and its actual use. It is clear that the final amount of EUR 36.4 billion of aid used was significantly lower than the original target by the EERP of EUR 200 billion. 3.2 Changes in the structure of taxation Summary of basic changes in the structure of taxation, i.e. changes in tax rates made in the EU states in the years 2008–2015, is presented in Table 2 . These data show a clear trend of increasing indirect tax rates, i.e. value-added tax (VAT), with a simultaneous reduction in the direct tax rates of

. The ratio of personal income tax to total tax revenues is also substantially lower. The major sources of general government revenue are indirect taxes, mostly the value-added tax. Cluster 3 differs considerably from both models described earlier. This is due to a number of factors – in the first place to a much lower benefit to GDP ratio. Similarly, the ratio of almost all particular expenditure items (except old-age people) to total public expenditure in average tends to be significantly lower too. Second, the average ratio of total tax revenue to GDP is by 6 p

taxes and state finances. For 2018-2019 there are topics of publication in new directions that may be useful in this study: 1) (1) tax competition and tax equalization in revenues taxation of enterprise; (2) the redistribution of incomes and losses of tax revenues associated with foreign direct investment; (3) the effect of tax incentives on investment: evidence from the Chinese value-added tax reform; 2) tax planning; financial constraints; 3) tax policy and entrepreneurial approach; optimal additional taxes: the consequences of business use; 4) corporate

.B. (2004). Public finance in theory and practice. New Delhi, India: Tata McGraw Hill. Naiyeju, J. K. (1996). Value added tax: The facts of a positive tax in Nigeria. Kupag Public Affairs. Ndekwu, J. K. (1991). An analytical review of Nigeria’s tax system and administration. Paper presented at a national workshop on tax structure and administration in Nigeria, Lagos, 15-17, May. Odusola, A.E. (2006). Rekindling investment and economic development in Nigeria. NES selected paper for the 1998 annual conference. Ogbonna, G. N., & Appah, E. (2012). Impact of tax reforms and