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Bożena Sowa
THE IMPACT OF THE TAX HARMONIZATION PROCESS (ON THE EXAMPLE OF VAT) ON BUDGET REVENUES IN 25 SELECTED EU COUNTRIES – A COMPARATIVE ANALYSIS
Abstract:
As a result of the progressive integration of European countries, a need has emerged to integrate tax law provisions, especially in the field of indirect taxes. Over the years, it has been possible to introduce several changes aimed at, among other things, equalizing the level of tax rates as well as reducing the tax gap through preventive measures taken at the European level.
This paper aims to assess the impact of the VAT harmonization process on the level of budget revenues on the example of 25 selected EU countries that have been members of the community since 2004 (Poland, Estonia, the Czech Republic and Hungary). The impact of changes in VAT rates and the dynamics of revenues on the budgets of individual countries due to value-added tax is analyzed in particular.
The article is based on a comparative analysis of financial data posted on the official EU website, available literature on the subject, scientific articles and internet resources, with the particular use of national normative acts and EU legal regulations. In addition, a statistical research method is used, and the results, presented in tables and graphs, are then subjected to interpretation.
The results of the research carried out:
1) The need for tax harmonization is the result of the progressive integration of countries within the structure of the European Union. One primary aspect, which has not been achieved yet, is the harmonization of VAT rates applied in individual countries.
2) Another issue that requires additional harmonization regulations is the applicable registration thresholds, beyond which the obligation to register an active VAT payer arises.
3) Considerable success achieved in the process of VAT harmonization is the reduction of the gap size in each of the surveyed Member States over the years after the accession to the EU.
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Cordelia Onyinyechi Omodero
THE ROLE OF CORPORATE TAX, EARNINGS
AND DEBT IN DETERMINING DIVIDEND POLICY OF FIRMS
Abstract:
Dividend policy is a critical component of corporate finance strategy, which, when properly implemented, will allow firms to grow. In general, equity holders or corporate fund providers expect a favourable dividend policy as a motivation and reward for their investment in a company. Despite this golden expectation, there are still certain factors that invariably determine the outcome of firms' dividend policies. This study investigates the influence of corporation tax, profits, and debt in determining business dividend policy. In this paper, we argue that dividend policy is influenced not only by corporate taxation, but also by other factors such as profitability and debt. The panel statistics are derived from the businesses' public financial statements, which cover the years 2016 - 2020. To evaluate the panel data, the study uses Pairwise Granger Causality Tests, the Hausman check, the collective outcome prototypical, and the coincidental upshot model. Four null premises are examined, and the results reveal that corporate taxes and earnings have an affirmative impact on businesses' surplus payments. Contrarily, debt and interest expenditures have no momentous inspiration on surplus disbursement. The analysis shows that dividend payments and debt are diametrically opposed. The paper suggests equity financing to enhance organizations’ business expansion.
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Georgi Gerganov, Violeta Blazheva
TAX PREFENRECES AS A FORM OF STATE SUPPORT FOR FARMERS
Abstract:
The vital importance of agricultural production and the interweaving of economic and biological processes determine the need of more state intervention in carrying out the agricultural policy in our country. This policy is implemented by government assistance, government subsidies and grants and tax relief (preferences).
This article characterizes tax preferences as assistance for investments in tangible and intangible assets on farms involved in primary agricultural production. On this basis, the authors offer options for accounting entries in in case of reporting retention of corporate tax and analyse its impact on financial result.
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Stoycho Dulevski
KEY ASPECTS ABOUT THE SUBSIDIARY
IN THE CONCEPT OF PERMANENT ESTABLISHMENT
Abstract:
The article deals with one of the cases when permanent establishment (PE) is not usually formed – the provision of Art. 5, para.7 of the Model Tax Convention on Income and Capital of Organisation for Economic Co-operation and Development (OECD). The main aim of the study is to outline its legal nature, focusing on the key points in it. Although it is not distinguished by particular challenges of theoretical and practical nature, there are certain aspects that need special attention, as they can be interpreted as an exception to what is written on it.
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Diana Stoyanova Yankova
SOME SPECIFIC ASPECTS OF DOCUMENTING, ACCOUNTING AND TAXING THE ACTIVITY OF AN ELECTRONIC SHOP
Abstract:
Rapid advancements in technologies affect all aspects of human activity. Their impact is especially strong on commerce. The popularity of electronic commerce among customers has been growing since mobile devices and the Internet have made the shopping experience easier and faster. On the other hand, e-commerce provides a larger customer base to retailers, since clients are no longer restricted to the location of a physical shop. It also offers better advertising and marketing opportunities. Another advantage is the lack of conventional working hours.
The paper aims at systematizing the major opportunities and regulatory requirements related to starting an online shop. It also answers some of the questions most frequently asked by economic agents and presents the main requirements that they need to meet before starting an online shop. Special attention is paid to some specific moments in terms of documenting, accounting and taxing the activity of an online shop.
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Georgi Gerganov
ACCOUNTING AND TAXATION PROBLEMS OF AGRICULTURAL PRODUCE MEASUREMENT
Abstract:
The present article analyses the prescriptions of accounting stand¬ards ¹ 41 “Agriculture“ and ¹ 2 „Inventories“ for determination and measurement of agricultural produce and the role of the estimates for the formation of the financial result for the period. When those standards are used in the accounting practice some texts, regulating the transformation of the financial result for tax purposes, appear to be contradictory. A specific example given here illustrates the logical sequence of the tax treatment of the differences between the measurements of produce at initial recogni¬tion and at the end of the year.
