Capital markets and tax policy making: A comparative analysis of European tax reforms since the crisis

Business interest groups are crucial actors for tax policy-making, but it is still unclear under which conditions they are more successful than politicians in shaping taxation. This article argues that centralised coordination and high levels of policy integration make business interest groups more influential in the tax policy-making process. If there is no ideological convergence between agenda setters and business, highly centralised and well-integrated business interest groups are more successful in blocking or softening revenue-raising tax reforms or simply transferring tax burdens to consumers or non-organised citizens. To evaluate this theoretical framework, I have compiled an original dataset on business groups and associations for 18 countries in Latin America between 1990 and 2010. This theory uncovers a strong link between the patterns of business coordination and the feasibility of implementing distributive tax policies. This article also contributes to the study of business politics beyond the limited sample of developed countries.

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Economic Effects of 2004-2009 Tax Reforms: Retrospective Analysis

Voprosy Ekonomiki ◽

10.32609/0042-8736-2012-2-108-123 ◽

2012 ◽

pp. 108-123

Author(s):

E. Penukhina ◽

D. Belousov ◽

K. Mikhailenko

Keyword(s):

Retrospective Analysis ◽

Tax Policy ◽

Economic Effects ◽

Tax Policies ◽

Policy Changes ◽

Tax Reforms ◽

Russian Economy ◽

Balanced Budget ◽

Budget System

The article determines, describes and analyzes phases of tax reforms in Russia. We estimate macroeconomic and fiscal effects of various tax policies held during the second and third phases of tax reforms. The necessity of providing a balanced budget system, as well as complex assessment of effects of tax policy changes for the development of the Russian economy is noted.

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On “Dynastic” Inequality

The Oxford Handbook of Intergenerational Ethics ◽

10.1093/oxfordhb/9780190881931.013.46 ◽

2021 ◽

Author(s):

Daniel Halliday ◽

Miranda Stewart

Keyword(s):

Birth Cohort ◽

Tax Policy ◽

Material Distribution ◽

Policy Reforms ◽

Tax Reforms ◽

Single Generation ◽

Philosophical Foundations ◽

Developed Economies ◽

Causal Mechanisms

This chapter investigates whether the replication of inequality is, other things being equal, morally objectionable in ways not applicable to inequality that remains confined to a single generation or “birth cohort.” The focus is both theoretical and practical. The chapter considers the philosophical foundations that might lie behind an objection to dynastic inequality, negotiating the diversity of egalitarian views supporting this position and the complexity around the causal mechanisms at work in cases where inequality has a dynastic tendency. It then discusses the policy reforms that might target inequalities that replicate old distributive trends while leaving newly produced trends more intact, with a focus on tax policy. Current tax rules in most developed economies do not make a distinction between new and old influences on the material distribution. Accordingly, it is likely that the tax reforms implied could be quite extensive.

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Comparative Analysis of Putin-Medvedev Foreign Policy Making: Syria and Libya Case

Ortadoğu ve Göç ◽

10.31834/ortadoguvegoc.1009090 ◽

2021 ◽

Author(s):

Muhammet KOÇAK

Keyword(s):

Foreign Policy ◽

Comparative Analysis ◽

Policy Making

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Insider Trading Crime in Turkish Criminal Law

International Conference on Eurasian Economies 2018 ◽

10.36880/c10.02113 ◽

2018 ◽

Author(s):

Çetin Arslan ◽

Didar Özdemir

Keyword(s):

Comparative Analysis ◽

Insider Trading ◽

Criminal Law ◽

Capital Markets ◽

Capital Market ◽

Good Faith ◽

The Other ◽

Public Disclosure ◽

Crime Type ◽

The Capital Market

Insider trading act is penalised ultima ratio with the aim of fighting against manmade market actions which outrage the principle of public disclosure and the element of trust in order to establish equality and good faith in capital markets. Insider trading is first disposed as a crime among the other capital market crimes (art.47/1-A-1) in the Capital Market Code no.2499 dated 28.07.1981 with the Amendment to the law no.3794 dated 29.04.1992 and at the present time it is rearranged as a self-contained crime type in article 106 of the Capital Market Code no.6362 dated 06.12.2012. In this study, the crime of insider trading is examined –in particular through the controversial points- as a comparative analysis between abrogated and current dispositions in Turkish Law.

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Professional Opinions And Attitudes On Tax Policy In Bosnia And Herzegovina With A Special Focus On The Federation Of Bosnia And Herzegovina

South East European Journal of Economics and Business ◽

10.1515/jeb-2015-0008 ◽

2015 ◽

Vol 10 (2) ◽

pp. 29-44 ◽

Cited By ~ 2

Author(s):

Lejla Lazović-Pita ◽

Ana Štambuk

Keyword(s):

Bosnia And Herzegovina ◽

Tax Policy ◽

Income Tax ◽

Value Added ◽

Special Focus ◽

Tax Reforms ◽

Tax Base ◽

Excise Duty ◽

Efficiency Principle ◽

Definition Of

Abstract This research is based on tax policy opinion survey data collected in Bosnia and Herzegovina (B&H) among tax experts. A special focus of the survey was to investigate the consequences of the different institutional environments that exist between the two entities of the country. After having reviewed all previous tax reforms in B&H, the most interesting results suggest that respondents agree on the introduction of a progressive personal income tax (PIT) and excise duty on luxury products, the maintenance of personal and family allowances and the maintenance of the current value added tax (VAT) and corporate income tax (CIT) rates. However, differences exist in the respondents’ perceptions about the introduction of reduced VAT rates, the regressivity of the VAT, and giving priority to the equity principle over the efficiency principle in taxation. Probability modelling highlighted these differences and indicated inconsistencies in the definition of the PIT tax base, namely the comprehensiveness of the PIT base under the S-H-S definition of income.

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Tax Policy and Income Inequality in the Visegrad Countries

Naše gospodarstvo/Our economy ◽

10.1515/ngoe-2015-0022 ◽

2015 ◽

Vol 61 (6) ◽

pp. 12-18

Author(s):

Anna Moździerz

Keyword(s):

Income Inequality ◽

Tax Policy ◽

Negative Impact ◽

The State ◽

Consumption Tax ◽

Tax Reforms ◽

Tax Rate ◽

Recent Financial Crisis ◽

The Impact ◽

Visegrád Countries

Abstract The financialisation of economies is believed to be the primary cause of the increase in income inequality in the world, occurring on a scale unseen for more than 30 years. One can hypothesise that it is the state that is responsible for the widening inequality, as the state has not sufficiently used the redistributive function of taxation. The purpose of this paper is to study the impact of tax policy on income inequality in Poland, the Czech Republic, Slovakia and Hungary. These so-called Visegrad countries have, in the last several years, carried out some controversial experiments with tax policy, specifically in terms of the flattening of tax progressivity or its replacement with a flat tax, which led to the weakening of the income adjustment mechanism. The imbalance between income tax and consumption tax has contributed to perpetuating income inequality. The verification of tax systems carried out during the recent financial crisis has forced the countries included in this research to implement tax reforms. The introduced changes caused various fiscal and redistributive effects. Analyses show that the changes in income taxation and an increase in the consumption tax rate had the most negative impact on the income and asset situation in Hungary.

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