scholarly journals The Economic and Social Consequences of Tax Havens in the World

2020 ◽  
Vol 83 ◽  
pp. 01041
Author(s):  
Gizela Lénártová
Keyword(s):  
World Economy ◽  
Tax Avoidance ◽  
Global Scale ◽  
Social Consequences ◽  
Negative Consequences ◽  
Tax Havens ◽  
The World ◽  
Tax Fraud ◽  
National Tax ◽  
Stable Development

The tax havens in the world have become the global phenomenon related tax avoidance, tax fraud and evasion and money laundering. The aim of the paper is to analyze their scope and to assess economic and social consequences of their existence in the world society, world economy, international and national tax systems. Many analyzes of the current situation and reported cases show that tax havens are threatening the stable development of the world economy, causing negative consequences of the economic, social, security and humanitarian nature of the global scale. Combating tax avoidance, tax fraud and evasion through tax havens must be stronger and more effective all around the world.

CORONAVIRUS IMPACT ON THE GLOBAL ECONOMY

2020 ◽  
Vol 10 (10) ◽  
pp. 2491-2498
Author(s):  
L.V. Abdrakhmanova ◽  
◽  
E.S. Shchigortsova ◽  
Keyword(s):  
Economic Activity ◽  
Global Economy ◽  
World Economy ◽  
Raw Materials ◽  
Global Scale ◽  
Retail Trade ◽  
Negative Consequences ◽  
Road Transportation ◽  
The World ◽  
Coronavirus Infection

The article analyzes the consequences of the spread of coronavirus infection on the world economy. The high degree of infection and the rapid spread of COVID-19 caused the quarantine of certain cities and regions of the world, and since March 2020, the borders between the countries have been completely closed. This situation, naturally, could not but affect the global economic activity. The crisis caused by the pandemic has led to the fact that the leaders of the countries were forced to first of all pay attention to health problems and seriously reduce funding in other sectors of the economy. The forced self-isolation regime of the population affected all spheres of life, without exception, large and medium, and, especially, small business suffered. The sectors of the economy most affected by the coronavirus pandemic include: air and road transportation, the leisure and entertainment industry, fitness and sports, tourism, hospitality, catering, the education system, the organization of conferences and exhibitions, the provision of personal services to the population, dentistry, retail trade in non-food products, the media and the production of printed materials, etc. Statistical data on the number of cases of new coronavirus infection by country (as well as those who recovered and died from it) are today not so much of a medical nature as evidence of a deepening global economic crisis. The decline in production volumes on a global scale entails a reduction in the global consumption of most types of industrial raw materials and energy carriers. According to analysts’ forecasts, the possibility of a quick return to the previous economic activity is not foreseen, negative processes may continue for the next several years. The COVID-19 pandemic is a serious test of the readiness of the world economy to effectively resolve global problems, overcome the negative consequences of the spread of the virus and focus on those positive opportunities, the development of which can lead to economic growth in the long term. One of these promising areas of economic development is the further digitalization of society, the development of new digital technologies.

scholarly journals External Debt Problem and Global Financial Architecture

2018 ◽  
Vol 6 (4) ◽  
pp. 18-29
Author(s):  
I. Balyuk
Keyword(s):  
Financial Market ◽  
World Economy ◽  
External Debt ◽  
Global Scale ◽  
External Financing ◽  
Financial Architecture ◽  
Debt Problem ◽  
The World ◽  
Debt Default ◽  
Stable Development

Liberalisation of the global financial market in 90-s last century and early in XXI has resulted in increasing dependence of many countries (both advanced and developing ones) on external financing and significant growth of the sovereign external debts that has become a real threat to the stable development of the world economy. The paper is focusing on the problem of growing external debt of many countries. It has an analysis of the methods aimed at settling and managing the external debt by the state authorities. I paid special attention to the problem of predicting the possibility of the sovereign external debt default. The author concludes that an aggravation of the global external debt problem may become one of the main triggers of a deep financial and economic crisis not only in separate countries or a group of related countries but on a global scale.

scholarly journals Detrimental effects of tax havens and the case of the Dutch tax system

Pro Futuro ◽  
2020 ◽  
Vol 9 (3) ◽  
Author(s):  
Tamás Zoltán Wágner
Keyword(s):  
World Economy ◽  
Negative Impact ◽  
Transfer Pricing ◽  
Tax Avoidance ◽  
Tax Rates ◽  
The European Union ◽  
Tax System ◽  
Tax Havens ◽  
The World ◽  
State Budgets

Nowadays, multinationals have become so strong that they can easily compete with states. Consequently, they have the opportunity to develop several tax minimalization strategies such as transfer pricing, inversion, hybrid entities etc. All these have a negative impact on the world economy and state budgets. Despite detrimental effects, certain countries try to cooperate with multinationals by transforming themselves into tax havens. In this framework, they provide multinationals with various kinds of tax advantages such as deductions, low tax rates and preferential tax rulings (“sweetheart deals”). Although, the general attitude towards tax avoidance in the European Union is negative, particular member states’ tax systems display several characteristics of tax havens. In this regard, it should be noted that multinationals regularly use the loopholes and other advantages of the Dutch tax system to minimise their tax liability. The following study – after a brief view to the characteristics of tax havens– will illustrate these options by highlighting the fact that the country – despite the denial of the respective governments – still displays several characteristics of - tax havens.

scholarly journals Redefining Periphery: Offshore Finance, Peripheral States and the World Economy

2012 ◽  
pp. 50
Author(s):  
Dimitris Katsikas
Keyword(s):  
Capital Mobility ◽  
Global Economy ◽  
World Economy ◽  
Small States ◽  
Negative Consequences ◽  
Global State ◽  
Tax Havens ◽  
The Core ◽  
The World ◽  
The One

This article seeks to examine the changing dynamics between the periphery and the core of the world economy. Small, peripheral states have assumed an increasingly important role in recent decades by offering fi nancial services to an increasing and geographically expanding range of corporate entities and wealthy individuals. These Offshore Financial Centres (OFCs) or tax havens, offer a service, which often has negative consequences for non-OFC countries at the core of the global economy. Despite pressure from the latter, these small states at the periphery of the global state system are able to continue their operation unabated. This is possible because in a world of growing technological nterconnectedness and capital mobility these states are able to employ the one resource they possess that has no limits: their legal sovereignty, that is, their right to write and enact law. By effectively commercializing their sovereignty small states are able to offer “juridical relocation”, a valuable service to wealthy individuals and companies around the world, which in turn employ them as a core piece in their intricate global wealth managing networks.

REGIONALISM APPROACH UNDER THE COVID-19 CIRCUMSTANCES

2021 ◽  
Vol 27 (5) ◽  
pp. 126-133
Author(s):  
E. Rasoulinezhad ◽  
Keyword(s):  
World Economy ◽  
Policy Implications ◽  
Productive Capacity ◽  
Economic Convergence ◽  
Negative Consequences ◽  
Economic Relations ◽  
The World ◽  
And Control ◽  
Different Parts

The outbreak of Covid-19 disease since late 2019 has led to fundamental changes in the process of globalization and liberalization of the world economy. In order to prevent the spread of this disease and control its negative consequences, many countries have implemented policies such as urban quarantine, cutting off passenger communication with neighboring countries and the world, closing tourist and tourist places, and implementing policies to protect domestic industries. In general, it led to the phenomenon of reverse globalization. According to the development of new economic convergence, which is based on the role of the market in economic relations between countries can play an important role in improving the productive capacity of countries in a region and create economic integration in different parts of the world. Such a state of integration in different parts of the world could be the solution to the process of globalization and in the post-Corona era, the concept of “one for all, all for one” was created at the regional and global level. As policy implications, the paper recommended some points to make a greater integration between Iran and Russia in the region

scholarly journals Global Problems of Mankind: The Status and Prospects of Solving

2020 ◽  
Vol 10 (513) ◽  
pp. 478-484
Author(s):  
O. V. Ptashchenko ◽  
◽  
D. Y. Arkhypova ◽  
Keyword(s):  
Technology Development ◽  
Political Stability ◽  
Global Scale ◽  
Social Consequences ◽  
General Nature ◽  
Modern World ◽  
Political Aspect ◽  
The World ◽  
Global Problems ◽  
The Status

The article examines the main global problems of the modern world space, defining the main tendencies of overcoming the crisis and the further path of human development. Globalization indicates the general nature of most processes meaningful to mankind. Modern humanity represents an indivisible system of economic, political, social and cultural ties and interactions, which is significative for the unity of its future destiny. Informatization became the basis of globalization, reflecting the current level of technology development. Global problems are problems affecting all mankind, influencing the course of economic development and social sphere, also ecology and political stability. These problems require international cooperation, since none, even a highly developed State, is able solve them on its own. The number of hungry people in the world has increased over the past few years. Now every ninth person in the world is starving every day, suffering from a lack of nutrition. Both the food scarcity and hunger are among the greatest threats to the overall health of the human population exceeding malaria, tuberculosis or HIV. Responsibility for the planet should begin with responsibility for the country, because the crisis of a separate country complicates the world situation in the political aspect; ecological and resource crises jeopardize environmental equilibrium and complicate the problem of resources on a global scale; an economic crisis leads to social consequences in other countries.

ASSESSMENT OF THE MAIN INDICATORS OF FINANCIAL SECURITY OF THE RUSSIAN FEDERATION

2021 ◽  
Vol 1 (9) ◽  
pp. 15-20
Author(s):  
L. V. AGARKOVA ◽  
◽  
V. V. AGARKOV ◽  
M. G. RUSETSKY ◽  
◽  
...  
Keyword(s):  
National Security ◽  
Russian Federation ◽  
World Economy ◽  
The State ◽  
Financial Security ◽  
Negative Consequences ◽  
Special Significance ◽  
The World ◽  
The Russian Federation

In the context of the globalization of the world economy, the issue of ensuring the financial security of the state is a condition of its national security and acquires special significance. The article examines the indicators of financial security, establishes a system of precursors - indicators of the financial security of the state, allowing to predict the onset of negative consequences. the main indicators of the financial security of the Russian Federation were assessed.

scholarly journals 50 Years of Real Convergence – Without Extractives Dependency and Tax Havens

2021 ◽  
Vol 66 (4) ◽  
pp. 501-516
Author(s):  
Róbert Csoma
Keyword(s):  
World Economy ◽  
Special Focus ◽  
Tax Havens ◽  
Developed Economies ◽  
Common Criteria ◽  
Catching Up ◽  
Real Convergence ◽  
Convergence Process ◽  
The World

In the world economy real convergence cannot be detected in the long term and lack of convergence is discussed in this article. The analysis is based on results and debates of economic growth theory and development studies. Special focus is placed on extractives dependent and tax haven countries and the article concludes that these countries considerably contribute to the partial real convergence process, limited only to some regions of the world economy. This paper also studies some common criteria of the catching-up process of emerging countries to developed economies. It concludes that although the factors of catching-up can be very unique in countries at different levels of development, yet there are some factors without which catching-up is hardly feasible nowadays in any country.

scholarly journals Aspects of the formation of market relations in Uzbekistan

2020 ◽  
Vol 3 (9) ◽  
pp. 152-154
Author(s):  
Yadgarova Sh.Kh. ◽  
Tagirova Yu.F ◽  
Tursunov A.Q
Keyword(s):  
Interest Rates ◽  
Market Economy ◽  
World Economy ◽  
The State ◽  
Negative Consequences ◽  
Main Form ◽  
Commodity Money ◽  
The World ◽  
Market Relations

Market economy is the basis of commodity-money relations, the nature of which is determined by objective economic laws. Market relations began to take shape at the dawn of civilization and went through more than a thousand-year path of development. Historically, two types of market relations. The first was spontaneously composed of scattered and uncoordinated actions of the producer and the consumer. The second is the complete opposite of the first: the state, through the introduction of prices, taxes, interest rates, profits, rents, subsidies and other instruments, has made market relations focused. The world experience and experience of Uzbekistan indicate that the market economy is developing according to objective laws that do not depend on anyone's will, and their ignoring is fraught with serious negative consequences. At present, market relations are the main form of existence of the world economy.

Sign in / Sign up

Export Citation Format

Share Document