scholarly journals Impact of vat raise on Russian economy

2020 ◽  
Vol 210 ◽  
pp. 13028
Author(s):  
Galina Semenova
Keyword(s):  
Economic Growth ◽  
Value Added ◽  
Primary Source ◽  
Income Taxes ◽  
Entrepreneurial Activity ◽  
Goods And Services ◽  
Russian Economy ◽  
Business Confidence ◽  
Taxation System ◽  
Excise Duties

The entire taxation system works state-wise, being the primary source for the budget formation and treasury replenishment. Value added tax (VAT) plays a major role in the national economy. Thus, any manipulations on the tax will immediately affect the economy. VAT raise will adversely impact the economy and result in curbing the motivation of the society for entrepreneurial activity. Raise in the VAT rate may indirectly affect the collection of personal income taxes (PIT) and excise duties because of the higher pressure on the economy and escalation of inflation, lower effective demand and lower level of consumption due to rising prices. Tax novations may lead to serious consequences: increase in the tax burden, higher prices for the majority of goods and services, lower consumer demand, escalation of inflation, a worse situation in small and medium entrepreneurship, a slowdown in economic growth. Subject of the study is the value added taxation. Goal of the research is to prove the necessity and significance of the VAT hike. Methodology. The VAT rates in 2017 for European countries and Russia and indices of industrial production and business confidence were systematized.

A Russian approach to ensuring economic growth

2021 ◽  
Vol 20 (7) ◽  
pp. 1234-1255
Author(s):  
Valerii V. SMIRNOV
Keyword(s):  
Economic Growth ◽  
Russian Federation ◽  
Systems Approach ◽  
Consumption Expenditures ◽  
Goods And Services ◽  
Russian Economy ◽  
Public Consumption ◽  
The Russian Federation ◽  
The Government ◽  
And Cluster Analysis

Subject. The article investigates a Russian approach to ensuring economic growth. Objectives. The aim is to identify the basis of the Russian approach to ensuring economic growth. Methods. The study rests on the systems approach, using the methods of statistical, neural network, and cluster analysis. Results. The paper defines the structural importance of exports of goods and services, and changes in inventories. It highlights significant links with public consumption expenditures. The Russian approach to ensuring economic growth comes down to devaluation of the national currencyб resulting from the loss of the real inflationary potential of economic growth to maintain the volume of exports of goods and services in the context of maintaining public consumption expenditures. The increase in M2 forces the Central Bank of the Russian Federation to increase its foreign exchange reserves. This has a restraining effect on the growth of Russian Ruble’s monetary exchange rate. This phenomenon causes a drop in the Russian federal loan bond (OFZ) index and a replacement of strategic priorities with tactical ones. Conclusions. The basis of the Russian approach to ensuring economic growth is a reflection of the limits of the Russian economy development and the effectiveness of the Government of the Russian Federation.

scholarly journals Analisis Pdrb Kabupaten Kebumen Sektor Perdagangan, Hotel Dan Restoran Atas Dasar Harga Berlaku Tahun 2008-2013

Media Wisata ◽  
2021 ◽  
Vol 13 (2) ◽  
Author(s):  
Yulianto
Keyword(s):  
Economic Growth ◽  
Value Added ◽  
Domestic Product ◽  
Goods And Services ◽  
Rate Of Increase ◽  
Analysis Calculation ◽  
Trade Sector ◽  
Entire Amount ◽  
Constant Prices

Gross Regional Domestic Product is as the amount of value-added (add value) that are generated by the entire production unit or in a region or the entire amount is the value of final goods and services produced by the economy of the entire unit within a region in a given period, either on the basis of rates in force or on the basis of constant prices. One GRP District of Kebumen is a sector of trade, hotels and restaurants which is an important part of the calculation and the increasing economic growth each year has increased, although not significantly.On the trade sector, the hotel and restaurant viewed from the results of analysis calculation on equation trend for certain years have elevated the quality of the year 2008 amounting to 583, 253.02 in 2009 amounted to 651, 473.61, then increment level trends in2010 719, 694.20, while for the year 2011 for the highest rate of increase in trends, namely of 856, 135.38, then in 2012 has increased the trend 355.97 924, and 2013 for trends 992,576.56.The result of the analysis of the Gross Domestic Product has increased fromKebumen Regency, trade, hotels and restaurants on the basis of the applicable rates in 2008-2013.

scholarly journals Impact of Implementation of Goods and Service Tax on Indian Banking Sector

2018 ◽  
pp. 18-32
Author(s):  
Revathi R. ◽  
Madhushree ◽  
P. S. Aithal
Keyword(s):  
Economic Growth ◽  
Banking Sector ◽  
Value Added ◽  
Tax System ◽  
Tax Rate ◽  
Bank Branches ◽  
Goods And Services ◽  
The Government ◽  
One Year ◽  
The Impact

The banking sector is one of the biggest and revenue generating sector in our economy. Indiais a country with impressively splendid banks with sufficient capital and well-regulated rulesand regulations. One of the biggest transformations that the sector faced during this period isGST i.e., Goods and Service Tax, a new tax regime introduced in the midnight of 1 July2017. Now the new tax regime has become one year old and there are so many changeswhich happened in the banking sector during this one-year periods. Introduction of GST tothe banking sector was one the highly risky and challenging role for the government. GST isa replacement to the Value Added Tax (VAT) which was implied on goods and services. Themain purpose of studying the impact of implementation of GST is to avoid double taxationon goods and services. It is a self-regulated tax system with a simplifies tax regime whichreduces the multiplicity of tax. The purpose of this study is to know the challenges faced bythe Banking sector and its effects on the customers after the implementation of the GST.New tax regime made an incredible step by the abolish of centralized registration of thebanks. Now all the bank branches have to register under GST in each state for the smoothfunctioning. The tax rate has created an impression in the banking sector that the sector iscontributing much toward the economic growth of the country. Tax slabs is anotherimportant and critical thing discussed in this paper which has substantially increasedcompared to the old tax regime. Data for the study have been collected from secondary datasources such as journals, internet, and news articles. Using the ABCD qualitative analysistechnique, advantages, benefits, constraints, and disadvantages for both banks and thecustomers for payment of GST are identified.

scholarly journals THE CO - INTEGRATION ANALYSIS OF EFFECT OF VALUE ADDED TAX AND EXCISE DUTIES ON ECONOMIC GROWTH IN NIGERIA

2021 ◽  
Vol 1 (1) ◽  
pp. 44-53
Author(s):  
ADEGBITE, TAJUDEEN ADEJARE
Keyword(s):  
Economic Growth ◽  
Negative Impact ◽  
Value Added ◽  
Value Added Tax ◽  
Excise Duty ◽  
Long Run ◽  
Short Run ◽  
Using Data ◽  
Excise Duties ◽  
Integration Analysis

This study examined the co-integration analysis of effect of value added tax and excise duties on economic growth in Nigeria. It also looked at the direction of causality among value added tax excise duty, interest rate, exchange rate and economic growth employing the method of Johansen co-integration and the Granger causality tests using data spanning the period 1994- 2014. Results showed that VAT has positive significant impact on GDP in the short run but has negative impact on GDP in the long run with (  = 1.296417; t=7.41; P>|t|= 0.000) and ( =- 13.38159; z=-3.60 , P>|z|= 0.000) respectively. Also, VAT does not granger cause GDP. Excise duty impacted GDP negatively in the short run but positively in the long run with (=-1.111069; t=-5.16, , P>|t|= 0.000) and ( =37.54469; z = 4.07; P>|z|= 0.000) respectively. It is recommended that, once the value added tax impacted economic growth positively in the shortrun but negative in the long run, government should increase the rate of value added tax in Nigeria, this will in turn boosting the revenue generation in Nigeria. Also, government should increase excise duty on tobacco and alcoholic so as to have positive significant impact on economic growth in the short run.

scholarly journals Conceptual Approach to Competitive and Innovative Sustainability Research of Meso-Level

2020 ◽  
Vol 159 ◽  
pp. 04038
Author(s):  
Galina Dovlatova ◽  
Anton Agafonov ◽  
Nаtalia Vasilyuk ◽  
Anatoliy Chistyakov
Keyword(s):  
Large Scale ◽  
Entrepreneurial Activity ◽  
Conceptual Approach ◽  
Meso Level ◽  
Goods And Services ◽  
Russian Economy ◽  
Sustainability Research ◽  
Innovative Products ◽  
Development Trajectory ◽  
Innovation Economy

The article presents the institutional conditions identified by the authors of the real exit of the meso-level from the crisis management model to the innovation development trajectory, conditioned by the transition to a favorable innovation-investment climate (ability to develop, introduction of innovative products and implementation of competitive goods and services). The development of the Russian economy requires large-scale innovation transformations at all levels of the hierarchy. In modern economic conditions, the formation of an appropriate level of innovation economy in Russia is due to the transition of meso-level economic systems to an innovative development path, which helps to identify effective innovation investment opportunities and their further application by one hundred percent. In this regard, in the framework of the study of the economic category of “innovation- investment attractiveness ” attention has been increasing recently not only to the cross-country aspect, but also to the study of mesosystems within countries. In our opinion, for the growth of the national economy of Russia there is a foreign trade with the participants by reducing barriers and risks for the development of entrepreneurial activity. The article is of interest to researchers, specialists in the field of economics and management, teachers, analysts, graduate students, undergraduates and students of economic universities.

Non-Oil-and-Gas GDP as an Indicator of Economic Dynamics in Russia

2006 ◽  
pp. 78-86 ◽  
Author(s):  
I. Bashmakov
Keyword(s):  
Economic Growth ◽  
Oil And Gas ◽  
Fixed Capital ◽  
Economic Dynamics ◽  
Goods And Services ◽  
Russian Economy ◽  
Investment Boom ◽  
Investment Goods

The paper argues for using non-oil-and-gas GDP as an indicator of economic dynamics in Russia. It also may be used for evaluating absorbtive capacity of the economy. The excess inflow of petro- and gas dollars has resulted in the investment boom accompanied by declining fixed capital effectiveness and escalating investment goods prices. The paper also addresses the perspectives of the Russian economy development prior and after 2008. Among other findings, the author has come to the conclusion that strengthening the Russian currency is fighting both inflation and economic growth. Such anti-inflation policy may be applied before 2008, while it is no longer needed afterwards under careful budget spending policy mainly due to a better balance between the monetary demand and actual supply of goods and services.

scholarly journals On inflation in the Russian economy

2014 ◽  
pp. 153-157
Author(s):  
A. I. Bolonin
Keyword(s):  
Money Supply ◽  
Weight Control ◽  
Value Added ◽  
Global Market ◽  
National Currency ◽  
Lower Growth ◽  
Goods And Services ◽  
Monetary System ◽  
Russian Economy ◽  
Value Added Products

For the economy is very important to have the amount of money in circulation, sufficient to serve the movement of goods and services without generating inflation, indicating an excess of money, so matching the growth rate of monetary and commodity weight control is an important task of the monetary system in all countries. During the time of the gold standard and bimetallism regulation of the economy as a whole was not considered as an important macroeconomic problem. But the economic crisis of 1929 - 1933 forced to reconsider these views and problems of regulation of financial and credit sphere began to be perceived as a function of a stable level of production and employment. The article describes the monetary factors of inflation in the economy and describes the causes, which can lead to programming of monetary growth in the Russian Federation. As the first group of factors impact on the volume of money in circulation in the national economy, the author defined low value added products produced in the country, based on the external market, and the absence, so the room for maneuver of financial resources to stabilize budget revenues with a deterioration in global market conditions. The weakening of the national currency provides large ruble revenues from exports, which reduces the growth of the budget deficit. But the decline of import revenues, which can compensate for the devaluation of the national currency, leads to higher prices in the domestic market due to the prevalence it offers imported goods. The second group of factors linked to the credit activity of banks, which consists in increasing primary issue in lending importers and secondary, which occurs during the formation of foreign exchange reserves by the Bank of Russia. Result of credit activity of banks is to increase money supply growth and the discrepancy between the higher growth of money in circulation and lower growth rates actually created in the production of value added, which leads to the weakening purchasing power of money and rising prices. Each reason has a direct impact on money supply growth and inflation initiates.

Alternative strategies of overcoming stagnationand a “new growth model” of the Russian economy

2017 ◽  
pp. 121-137 ◽  
Author(s):  
V. Manevitch
Keyword(s):  
Economic Growth ◽  
Oil And Gas ◽  
Raw Materials ◽  
Value Added ◽  
Net Income ◽  
Russian Economy ◽  
Short Run ◽  
Monetary And Fiscal Policy ◽  
Rate Of Accumulation

The export-raw materials model of the Russian economy has exhausted its potential to induce economic growth and has become one of the main reasons for prolonged stagnation. The profit of oil and gas complex concentrates a significant part of the value added created in other activities. The mechanism ensuring such concentration is lowed ruble exchange rate and monopoly pricing. From 40 to 60% of foreign exchange earnings from oil and gas exports is used for the export of capital and payment of net income of non-residents. The reduction of net exports to the minimum will bring the rate of accumulation to the saving rate. Reallocation of investment in favor of infrastructure and processing industries will increase their effectiveness. Thus the tasks of creating new centers of income, forming a new mechanism of economic growth will be solved. Monetary and fiscal policy will be effective not only in the short run but also in the long-term period.

Trends in affordability of tobacco products before and after the transition to GST in India

2020 ◽  
pp. tobaccocontrol-2019-055525
Author(s):  
Rijo M John ◽  
Estelle Dauchy
Keyword(s):  
Capita Income ◽  
Value Added ◽  
Per Capita Income ◽  
Tobacco Products ◽  
Goods And Services ◽  
Before And After ◽  
Per Capita ◽  
Tax Changes ◽  
Taxation System ◽  
The Impact

ObjectiveTo estimate the trends in affordability of bidis, cigarettes and smokeless tobacco (SLT) in India and examine the impact of transition from the earlier indirect taxation system to the new goods and services tax (GST) on the affordability.MethodsRetail price data and per-capita gross domestic product data were used to examine the trends in affordability of cigarettes, bidis and SLT from 2007–2008 to 2018–2019. Relative income price defined as the share of real per-capita income required to purchase a given quantity of a product was used to measure affordability. Changes in affordability were decomposed to disaggregate the effects of real prices or income changes.FindingsOn average, cigarettes, bidis and SLT have become increasingly affordable over the past 10 years. Bidis were found to be nine times more affordable than cigarettes. The GST has accentuated the increase in the affordability of cigarettes and SLT, and did not significantly alter the high affordability of bidis. In general, states with high (low) value-added tax rates during the pre-GST period experienced increases (decreases) in tobacco products’ affordability after GST.ConclusionBidis continue to be highly affordable while the affordability of cigarettes and SLT increased mainly due to lack of any tax changes after GST and the growth in per-capita income. To effectively reduce affordability, significant increase in either the excise taxes and/or the compensation cess—a temporary duty in addition to GST—is warranted. Compensation cess should also be applied on bidis to address the huge tobacco use problem in India.

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