scholarly journals Pandemic, Economic Crisis and public revenue: the impacts of Complementary Law 173/2020 on personnel costs in the municipalities of the northeastern region of Santa Catarina

2021 ◽  
Vol 17 (1) ◽  
Author(s):  
Daniel Wagner Heinig ◽  
Ana Paula Myszczuk
Keyword(s):  
Economic Crisis ◽  
Government Expenditure ◽  
Executive Branch ◽  
Santa Catarina ◽  
Fiscal Impact ◽  
Northeastern Region ◽  
Personnel Costs ◽  
Goods And Services ◽  
Public Revenue ◽  
The Impact

In addition to being a sanitary crisis, the COVID-19 pandemic has also led to an economic crisis in Brazilian society. An obvious consequence of this economic crisis resulting from the pandemic is the fall in public revenue. The reduced consumption of goods and services by families in times of crisis has a negative fiscal impact, which in turn affects government expenditure and investments, leading to even less economic activity. In an attempt to mitigate the effects of the crisis, the Federal Program to Confront the SARS-CoV-2 Coronavirus (Covid-19) was created through Complementary Law 173/2020 to bring relief to municipalities and other subnational entities, but under the imposition of a number of controls on personnel costs. The present study sought to analyze the impact of the economic crisis caused by the pandemic on municipal tax revenues in the northeastern region of Santa Catarina State. The study also evaluated the extent to which Complementary Law 173/2020 helped to sustain the personnel costs of the executive branch of these municipalities. The results of the study showed that there was an average reduction of 4.21% in municipal Current Net Revenues, especially in Joinville, with a reduction of 6.86%, and Campo Alegre (10.51%). The study also showed that Complementary Law 173/2020 helped to sustain personnel costs in the executive branch of the municipalities in question. Personnel costs remained within the maximum and prudential limits set by the Fiscal Responsibility Law. Nevertheless, five municipalities registered an increase in terms of percentages, notably related to the fall in Current Net Revenues during the period under study.

scholarly journals Sectoral Responses, Macroeconomic Impact and Household Welfare: GST Policy for Malaysia Economy

2020 ◽  
Vol 15 (1) ◽  
pp. 21-39
Author(s):  
Juliana Mohd Abdul Kadir ◽  
Mohamed Aslam Gulam Hassan ◽  
Zarinah Yusof
Keyword(s):  
Computable General Equilibrium ◽  
Government Expenditure ◽  
Computable General Equilibrium Model ◽  
Household Welfare ◽  
Government Revenue ◽  
Goods And Services ◽  
Income Groups ◽  
Negative Effect ◽  
Macroeconomic Impact ◽  
The Impact

Goods and services tax (GST) has been a controversial topic in Malaysia when it was first implemented. This study examines the impact of the GST on the Malaysian economy from three major perspectives. First, it investigates the consequent changes in sectoral responses, including output and prices for 15 main sectors. Second, the study presents the results of GST impact on seven macroeconomic variables, namely, consumption, investment, government revenue, government expenditure, export, import, and gross domestic product. Third, the results of household welfare are discussed. A computable general equilibrium model is utilized to simulate GST impact on the Malaysian economy, and a simple comparative static model is performed. The results prove that the higher the GST rate, the higher is the impact on each sector. The sectors most affected by GST are communication and ICT, and the electricity and gas sectors. By contrast, agriculture, forestry and logging, and the petroleum and natural gas sectors are the least affected. Consumption and investment receive the largest negative effect, whereas government revenue and expenditure show the largest positive effect. The study likewise finds that by lowering GST rate, the welfare loss was minimized and the higher-income groups were affected more than the lower-income groups.

scholarly journals INFLASI DALAM PRESPEKTIF ISLAM (ANALISIS TERHADAP PEMIKIRAN AL-MAQRIZI)

2017 ◽  
Vol 16 (2) ◽  
pp. 197
Author(s):  
Awaluddin Awaluddin
Keyword(s):  
Exchange Rates ◽  
Economic Crisis ◽  
Relative Price ◽  
Purchasing Power ◽  
Social Perspective ◽  
Goods And Services ◽  
Monetary System ◽  
The Cost ◽  
The Impact ◽  
Material Welfare

Inflation is one of the macroeconomic symptoms associated with the decline in exchange rates (money) on goods and services market. One of the leaders of Islamic economics who specializes in his discussion of macroeconomics is al-Maqrizi. The solution offered by al-Maqrizi related to the problems that occurred in Egypt is to use the natural monetary system, the dinar and dirham become the base currency, while the fulus is published in a limited and only to buy trivial goods. Al-Maqrizi set the relative price for dinar, dirham and fulus. The relative price of dinar and dirham is 1:24, while the relative price between dirham and fulus is 1: 140. In addition to providing solutions to address the above three issues, al-Maqrizi also proposed solutions in a social perspective. This gives the conclusion that the impact of the economic crisis depends on the nature of income and wealth of each group. If the income is fixed or inflated but lower than the rate of inflation, then the condition is severe. Conversely, if their income rises higher than the rate of inflation, then their material welfare increases. Likewise with wealth in the form of money, they suffered losses because their purchasing power continued to decrease and they also had to increase the cost to meet the demands of the ever-increasing need.

scholarly journals PANDEMI COVID 19 DAN PENGARUHNYA TERHADAP PASAR TENAGA KERJA DI INDONESIA

2020 ◽  
Vol 12 (2) ◽  
pp. 36-46
Author(s):  
Pandu Adi Cakranegara
Keyword(s):  
Labor Market ◽  
Private Sector ◽  
Economic Crisis ◽  
World Bank ◽  
Quantitative Easing ◽  
Goods And Services ◽  
International Labor ◽  
Ministry Of Finance ◽  
The Government ◽  
The Impact

Pandemic Covid 19 is a crisis that begins with health problems. But the crisis is heading towards an economic crisis. This study examines the impact of the economic crisis using various data from various sources such as Bank Indonesia, Ministry of Finance, World Bank, International Labor Organizations, International Monetary Funds and McKinsey. Based on the data collected, the economic impact on the labor market is analyzed. The results of this study conclude that the high unemployment will create a decrease in demand while the Quantitative Easing policy and private sector debt restructuring from Bank Indonesia is directed to the supply sector. Without the demand for goods and services from consumers, the company will not be able to sell its products and recover as usual. The policy suggested from this study is that the government needs to create manpower and whenever it feels necessary to subsidize the salaries of employees, especially in the national leading sectors.

scholarly journals The Impact of the Global Economic Crisis on Sport

2014 ◽  
Vol 63 (1) ◽  
pp. 22-30 ◽  
Author(s):  
Gyöngyi Szabó Földesi
Keyword(s):  
Economic Crisis ◽  
Scientific Evidence ◽  
Theoretical Perspective ◽  
Private Funding ◽  
Goods And Services ◽  
Global Economic Crisis ◽  
Sport Events ◽  
The Individual ◽  
Methodological Considerations ◽  
The Impact

Abstract The current economic crisis is the worst one in decades; it is surely the worst one the world has experienced since the Great Depression in the 1930s. Although it has affected countries with different positions in the global village in different ways and to different degrees, it has had worldwide consequences in most sub-systems of societies, including sport. These are hot issues in management and in everyday practice; still, relatively little attention has been paid to them within the social sciences. The objective of this paper is to close this gap by studying how the recent global economic crisis has affected sport. Two spheres of sport have been selected for analysis: mega sport events and grassroots sports. These two fields were chosen because of their social importance and because there is little scientific evidence about how they face and answer the challenges coming from the economic crisis. The topic is discussed from the theoretical perspective of the nexus of economy, politics, society, and culture. The methodological considerations refer to the lack of reliable sources for economic data related to sport. The results indicate that mega sport events have suffered less from the recession: there might be new actors, but the show goes on. The true loser is grassroots sport. Household impoverishment might lead to a decreased willingness of the individual practitioners to pay for sports goods and services and to a decreased contribution of volunteers working in sport. The funding models vary across countries, but generally both public and private funding has been reduced. In conclusion, it is underlined that no fields of sport have been left untouched by the current global economic crisis, but grassroots sports have suffered the most from it.

scholarly journals Progressive Taxation versus Progressive Targeted Transfers in the Design of a Sustainable Value Added Tax System

2021 ◽  
Vol 13 (20) ◽  
pp. 11165
Author(s):  
Zhila Abshari ◽  
Glenn P. Jenkins ◽  
Chun-Yan Kuo ◽  
Mostafa Shahee
Keyword(s):  
Value Added ◽  
Value Added Tax ◽  
Transfer Scheme ◽  
Tax System ◽  
Personnel Costs ◽  
Goods And Services ◽  
Poor Households ◽  
The Government ◽  
The Impact ◽  
Over Time

Value added tax (VAT) has proven to be the most stable and revenue productive of all components of the tax system. However, for such a tax system to be policy sustainable over time, taxpayers must consider it fair, and it must be viewed by the National Treasury to be productive in terms of raising substantial revenue and administratively feasible by the VAT-implementing agency. The VAT system in Belize has been a highly productive component of the revenue system, and it was designed to be progressive, but in arriving at this position, over 40% of the personnel of VAT tax administration are engaged in processing tax refunds to promote progressivity and to fight against the fraud that such a refund system incubates. This is an unsustainable position for any tax system to remain intact over time. This paper evaluates the attempt by the government of Belize to introduce progressivity into their single-rate VAT through zero rating and exemption from taxation of many goods and services that are major expenditure items of poor households. The distributional impacts are measured by a tax reform that eliminates all zero ratings except for exports and a few exemptions. By eliminating zero-rated items and significantly reducing the number of exempt items, the impact of the reform adds a regressive element, although overall, the VAT system remains progressive. However, 75% of the revenues raised by this reform would be paid by the top 40% of the income distribution. The increased revenues could finance an expansion of an existing transfer scheme that exclusively targets poor households. In addition, reforms would eliminate at least 40% of the personnel costs of administering the current VAT system.

The impact of economic crisis on mental and physical health in Italy

2017 ◽  
Vol 14 (02) ◽  
pp. 103-110
Author(s):  
S. Tomassi ◽  
M. Ruggeri
Keyword(s):  
Mental Health ◽  
Physical Health ◽  
Economic Crisis ◽  
Social Determinants ◽  
Great Recession ◽  
Economic Recession ◽  
Behavioural Disorders ◽  
Economic Activities ◽  
The Impact ◽  
Mental And Physical Health

Summary Background: The global crisis that began in 2007 has been the most prolonged economic recession since 1929. It has caused worldwide tangible costs in terms of cuts in employment and income, which have been widely recognised also as major social determinants of mental health (1, 2). The so-called “Great Recession” has disproportionately affected the most vulnerable part of society of the whole Eurozone (3). Across Europe, an increase in suicides and deaths rates due to mental and behavioural disorders was reported among those who lost their jobs, houses and economic activities as a consequence of the crisis.

Competition Policy under Economic Crisis

2009 ◽  
pp. 54-69 ◽  
Author(s):  
A. Shastitko ◽  
S. Avdasheva ◽  
S. Golovanova
Keyword(s):  
Division Of Labor ◽  
Economic Crisis ◽  
Industrial Policy ◽  
Competition Policy ◽  
Transition Economy ◽  
Economic Recession ◽  
Price Rigidity ◽  
Key Factor ◽  
Policy Measures ◽  
The Impact

The analysis of competition policy under economic crisis is motivated by the fact that competition is a key factor for the level of productivity. The latter, in its turn, influences the scope and length of economic recession. In many Russian markets buyers' gains decline because of the weakness of competition, since suppliers are reluctant to cut prices in spite of the decreasing demand. Data on prices in Russia and abroad in the second half of 2008 show asymmetric price rigidity. At least two questions are important under economic crisis: the 'division of labor' between pro-active and protective tools of competition policy and the impact of anti-crisis policy on competition. Protective competition policy is insufficient in transition economy, especially in the days of crisis it should be supplemented with the well-designed industrial policy measures which do not contradict the goals of competition. The preferable tools of anti-crisis policy are also those that do not restrain competition.

MODERN PROBLEMS OF ACCOUNTING AND ANALYTICAL ENSURING FINANCIAL RESULTS MANAGEMENT

2020 ◽  
Author(s):  
Yuliia Peniak ◽  
◽  
Nataliia Horokhovatska ◽  
Keyword(s):  
Performance Management ◽  
Enterprise Management ◽  
Goods And Services ◽  
Financial Condition ◽  
General Evaluation ◽  
Net Profit ◽  
Business Entities ◽  
Results Management ◽  
Main Components ◽  
The Impact

The main purpose of any enterprise in the market economy is to obtain high financial results. One of the main conditions for the effective functioning of the enterprise is ability to generate profit in the amount that will create the financial basis for further development and expansion of the enterprise, comply with social and material needs, ensure competitiveness in the market of goods and services. The need for accounting and analytical management of financial results stems from needs of owners, the state and employees in information that will enable them to identify patterns and trends in financial results, identify and assess the main factors influencing the process of their creation, distribution and usage, identify reserves and thus increase the level of profitability. Despite the significant scientific contribution in the field of research of financial results of the enterprises, the issue of improvement aims to the accounting and analytical maintenance of management of financial results of the enterprise remains actual. That is why the purpose of the study is to substantiate the theoretical and practical aspects and develop approaches to improving the mechanism of formation of accounting and analytical support for the management of financial results of the enterprise. Accounting and analytical management of financial results of the enterprise is a set of interconnected elements of production and management system, activities carried out by the subject of management, creation of a certain structure, as well as collection, accumulation, storage and analysis of information necessary for effective operation of the enterprise. The main components of the study of accounting and analytical support of financial performance management are the formation of methods of analysis, control and forecasting of financial results, which requires specification of the components of the analytical and controlled process within the organizational and information model. Namely, the formation of reliable information about the financial condition of the enterprise, the analysis of economic indicators of the enterprise is of great importance in the system of general evaluation of business entities. Their research makes it possible to assess the dynamics of the structure of income and expenses, to determine the impact of factors on the company's profit from various activities, as well as to find reserves to increase the net profit of enterprises. Thus, the improvement of accounting and analytical support of enterprise management is based on the use of modern forms, methods and principles that place new demands on the formation of unbiased, complete, timely, clear and useful accounting and analytical information about the enterprise and its financial results.

TRANSFER FİYATLAMA UYGULAMASININ İŞLETME PERFORMANSINA ETKİSİ VE VERGİSEL AÇIDAN DEĞERLENDİRİLMESİ

2014 ◽  
Vol 1 (2) ◽  
pp. 187
Author(s):  
Serdar KUZU
Keyword(s):  
Business Performance ◽  
Transfer Pricing ◽  
Tax Law ◽  
Economic Activities ◽  
Tax System ◽  
Goods And Services ◽  
Tax Legislation ◽  
International Transactions ◽  
The Cost ◽  
The Impact

The size of international trade continues to extend rapidly from day to day as a result of the globalization process. This situation causes an increase in the economic activities of businesses in the trading area. One of the main objectives of the cost system applied in businesses is to be able to monitor the competitors and the changes that can be occured as a result of the developments in the sector. Thus, making cost accounting that is proper according to IAS / IFRS and tax legislation has become one of the strategic targets of the companies in most countries. In this respect, businesses should form their cost and pricing systems according to new regulations. Transfer pricing practice is usefull in setting the most proper price for goods that are subject to the transaction, in evaluating the performance of the responsibility centers of business, and in determining if the inter-departmental pricing system is consistent with targets of the business. The taxing powers of different countries and also the taxing powers of different institutions in a country did not overlap. Because of this reason, bringing new regulations to the tax system has become essential. The transfer pricing practice that has been incorporated into the Turkish Tax System is one of the these regulations. The transfer pricing practice which includes national and international transactions has been included in the Corporate Tax Law and Income Tax Law. The aim of this study is to analyse the impact of goods and services transfer that will occur between departments of businesses on the responsibility center and business performance, and also the impact of transfer pricing practice on the business performance on the basis of tax-related matters. As a result of the study, it can be said that transfer pricing practice has an impact on business performance in terms of both price and tax-related matters.

Modernisation of Higher Education – Willful Action or Wishful Thinking? The Case of Bulgaria

2020 ◽  
Vol 8 (3) ◽  
pp. 3-17
Author(s):  
Elena Blagoeva
Keyword(s):  
Higher Education ◽  
Economic Crisis ◽  
Negative Impact ◽  
National Level ◽  
Sustainable Growth ◽  
Research Approach ◽  
Case Study Methodology ◽  
The Impact ◽  
The Eu

The impact of the last global economic crisis (2008) on the European economy put a strain on higher education (HE), yet it also pushed the sector towards intensive reforms and improvements. This paper focuses on the “Strategy for the Development of Higher Education in the Republic of Bulgaria 2014-2020”. With a case study methodology, we explore the strategic endeavours of the Bulgarian government to comply with the European directions and to secure sustainable growth for the HE sector. Our research question is ‘How capable is the Bulgarian HE Strategy to overcome the economic and systemic restraints of Bulgarian higher education?’. Because the development of strategies for HE within the EU is highly contextual, a single qualitative case study was chosen as the research approach. HE institutions are not ivory towers, but subjects to a variety of external and internal forces. Within the EU, this is obviated by the fact that Universities obtain their funds from institutions such as governments, students and their families, donors, as well as EU-level programmes. Therefore, to explore how these pressures interact to affect strategic action on national level, the case method is well suited as it enabled us to study the phenomena thoroughly and deeply. The paper suggests the actions proposed within the Strategy have the potential to overcome the delay, the regional isolation and the negative impact of the economic crisis on the country. Nevertheless, the key elements on which the success or failure of this Strategy hinges are the control mechanisms and the approach to implementation. Shortcomings in these two aspects of strategic actions in HE seem to mark the difference between gaining long-term benefits and merely saving face in front of international institutions.

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