Harmonization of domestic and international practice for financial monitoring of the primary link of its implementation

2021 ◽  
Vol 2021 (7) ◽  
pp. 93-107
Author(s):  
Svitlana LEVITSKA ◽  
◽  
Olga OSADCHA ◽  
Keyword(s):  
Negative Impact ◽  
National Development ◽  
Cash Flows ◽  
Entrepreneurial Activity ◽  
Impact Factors ◽  
Audit Firms ◽  
Use Of Services ◽  
The Law ◽  
Financial Monitoring ◽  
Financial Transactions

The purpose of this study is both to summarize negative impact factors on cash flows legalization based on international and domestic practice of financial monitoring in the area of entrepreneurial activity and to determine effective measures directed at sustainable socio-economic national development of Ukraine. The main legislative rules, norms and principles of financial monitoring implementation by domestic economic entities, conceptual definitions of the Law of Ukraine 361-IX , objects and subjects of initial financial monitoring, criterias of the international practice of financial transactions monitoring are generalized. The role of current o361-IX in the systemic fight against money laundering risks by domestic entities is revealed. The need is substantiated for both thorough identification and verification of such risks based on the results of asset transactions defined by the law as “objects of financial monitoring” and search for complete and reliable information on the final beneficiary of initial financial monitoring subject. Alternative approaches to the internal regulatory development and working documents have been proposed for the initial financial monitoring subjects (on the example of audit firms) in order to ensure their financial monitoring consistency and full disclosure of obtained results. Initial financial monitoring subjects, guided by provisions of Law 361-IX , must have a number of internal administrative documents that take into account the nature and scale of transactions with counterparties/clients. Mandatory internal documents for initial financial monitoring subjects specify: financial monitoring rules, primary financial monitoring programs and other internal financial monitoring documents, documentation of personnel procedures for the responsible employee appointment and his powers, rights and responsibilities. These internal documents should contain procedures that ensure effective risk management, as well as prevent the use of services (goods, products) for the initial financial monitoring subject in order to legalize illicit income. The reward is the confidence that activities of initial financial monitoring subjects have become another foundation in national socio-economic development.

scholarly journals Do Agricultural Machinery Services Facilitate Land Transfer? Evidence from Rice Farmers in Sichuan Province, China

Land ◽  
2021 ◽  
Vol 10 (5) ◽  
pp. 466
Author(s):  
Xi Yu ◽  
Xiyang Yin ◽  
Yuying Liu ◽  
Dongmei Li
Keyword(s):  
Negative Impact ◽  
Sichuan Province ◽  
Impact Factors ◽  
Farm Labor ◽  
Agricultural Machinery ◽  
Rice Farmers ◽  
Land Transfer ◽  
Land Rental ◽  
Rental Markets ◽  
The Impact

Agricultural machinery services play an increasingly important role in the land transfer market, especially in developing countries. Prior studies have explored the impact factors of machinery use on agricultural production and land transfer, respectively. However, little research has focused on the relationship between the adoption of agricultural machinery services and the land transfer of rice farmers. To bridge this gap, this study investigated the correlation between machinery services and land transfer, using unique survey data of 810 rice farmers collected from Sichuan province in China. Additionally, this study further explored the impact mechanism on land transfer of rural households with IV-Probit and IV-Tobit models. The empirical results show the following: (i) Agricultural machinery services have a significantly positive and robust effect on both the incidence and area of rice farmers’ land transfer-in, while the impact degree is different. Specifically, with other conditions remaining unchanged, and with a 1% increase in the proportion of machinery services, the average probability of land transfer-in of rice farmers increased by 2.4%, and the area of land transfer-in increased by 13.4 mu, on average. (ii) For control variables, head education, agricultural certificates and whether the majority of land, are in a flat area have positive impacts on land transfer-in behavior. Yet, age and off-farm labor have a negative impact on land transfer-in area. Moreover, our findings highlight the importance of agricultural machinery services in stimulating the development of rural land rental markets.

Analysis of the state of the migration process of the ukrainian population in the context of domestic and international levels

2021 ◽  
Vol 72 (5) ◽  
pp. 110-118
Author(s):  
M. Shkurat ◽  
K. Pavlotska
Keyword(s):  
Social Protection ◽  
Negative Impact ◽  
Migration Policy ◽  
Cash Flows ◽  
The State ◽  
Negative Consequences ◽  
Migration Process ◽  
State Of The Economy ◽  
Migration Flows ◽  
High Level

Analysis of the migration process of the Ukrainian population, which takes place within the state and at the international level during 2014–2019 is carried out in this paper. On the basis of scientific works of domestic scientists and institutes the problems which have not been investigated, and also aspects which have been solved partially are defined. The negative consequences of the Ukrainian migration process on the state of the country are identified. The classification of migration flows of the Ukrainian population according to the reasons of movement is carried out. The main regions and countries which, as of the beginning of 2021, are more attractive to compatriots and are characterized by significant influxes of Ukrainians are identified. The main centers of departure – regions and countries – which are characterized by high level of outflow of Ukrainians are determined, the main problems and reasons that motivate the outflow of Ukrainians are highlighted in this paper. The level of growth of the Ukrainian population in terms of migration flows is defined. The investigation of Ukrainian diasporas, territorial location and analysis of their share in comparison is carried out. The main factors that force the Ukrainian population to move, which affects the demographic situation in Ukraine, the level of employment, as well as the amount of cash flows to the country and the state of the economy as a whole are identified. The main regulations and identified solutions to the migration flows of the domestic population, which were approved and implemented in the period from 2001 to 2019 are compared in this paper. On the basis of current and newly introduced strategies, critical analysis of the ways of regulating the migration process of the Ukrainian population is carried out, the main aspects and problems of the implemented migration policy of Ukraine are determined. The results of the work are to identify the main ways to reduce the negative impact of the migration process on the country's economy and related processes, and strategies to benefit from the movement of citizens of Ukraine, namely: introduction of intellectual security, revision of wages by region, stimulating the process of attracting technology in all spheres of activity and formation of the social protection system.

scholarly journals Impact of unemployment and income on entrepreneurship in post-apartheid South Africa: 1994–2015

2018 ◽  
Vol 10 (1) ◽  
Author(s):  
Darma Mahadea ◽  
Irrshad Kaseeram
Keyword(s):  
Economic Growth ◽  
South Africa ◽  
Employment Growth ◽  
Positive Impact ◽  
Early Stage ◽  
National Development ◽  
Entrepreneurial Activity ◽  
Per Capita Gdp ◽  
Per Capita ◽  
The Impact

Background: South Africa has made significant progress since the dawn of democracy in 1994. It registered positive economic growth rates and its real gross domestic product (GDP) per capita increased from R42 849 in 1994 to over R56 000 in 2015. However, employment growth lagged behind GDP growth, resulting in rising unemployment. Aim and setting: Entrepreneurship brings together labour and capital in generating income, output and employment. According to South Africa’s National Development Plan, employment growth would come mainly from small-firm entrepreneurship and economic growth. Accordingly, this article investigates the impact unemployment and per capita income have on early stage total entrepreneurship activity (TEA) in South Africa, using data covering the 1994–2015 period. Methods: The methodology used is the dynamic least squares regression. The article tests the assertion that economic growth, proxied by real per capita GDP income, promotes entrepreneurship and that high unemployment forces necessity entrepreneurship. Results: The regression results indicate that per capita real GDP, which increases with economic growth, has a highly significant, positive impact on entrepreneurial activity, while unemployment has a weaker effect. A 1% rise in real per capita GDP results in a 0.16% rise in TEA entrepreneurship, and a 1% rise in unemployment is associated with a 0.25% rise in TEA. Conclusion: There seems to be a strong pull factor, from income growth to entrepreneurship and a reasonable push from unemployment to entrepreneurship, as individuals without employment are forced to self-employment as a necessity, survival mechanism. Overall, a long-run co-integrating relationship seems plausible between unemployment, income and entrepreneurship in South Africa.

scholarly journals HUKUM, MORAL, DAN KEKUASAAN DALAM TELAAH (Hukum adalah Alat Teknis Sosial)

FIAT JUSTISIA ◽  
2017 ◽  
Vol 10 (4) ◽  
pp. 671
Author(s):  
Fithriatus Shalihah ◽  
Oksep Adhayanto
Keyword(s):  
Political Parties ◽  
Negative Impact ◽  
Language Games ◽  
State Laws ◽  
Truth Values ◽  
The Law ◽  
Changing Society

AbstractThe negative impact of the use of law as a means of changing society in authoritarian countries is seen already clear when in authority a regime that was decades on authority in Indonesia. The regime overcome all the forces that exist in society and the bureaucracy is crucial. Political parties in that era were not independent. The decisions in the field of legislation more influenced by the government's political vision. Here, the law has been used as synonymous with power, so that can not be distinguished more clearly, where the law where power, where “rechtsstaat” and where “machtstaat”, where state laws and which countries tyranny legitimized by law. The law should be given charges philosophical truth values are deduced from the principles of the law by the authorities, in fact the loaded power itself that must be regarded as truth. Manipulation of the truth that's going on here is misdirection logic through language games that the law is the same as the laws in the flow of positivism. Keywords: Legal, Moral and Authority AbstrakDampak negatif penggunaan hukum sebagai sarana perubahan masyarakat dalam negara otoriter terlihat sudah secara terang benderang ketika berkuasanya sebuah rezim yang puluhan tahun berkuasa di Indonesia. Rezim tersebut mengatasi semua kekuatan yang ada dalam masyarakat dan birokrasinya sangat menentukan. Partai-partai politik pada era itu tidak mandiri. Keputusan-keputusan di bidang legislasi lebih banyak diwarnai oleh visi politik pemerintah. Disini hukum telah dijadikan identik dengan kekuasaan, sehingga tidak dapat dibedakan lagi secara tegas, mana hukum mana kekuasaan, mana rechtsstaat dan mana machtstaat, mana negara hukum dan mana negara tirani yang dilegitimasi secara hukum. Hukum yang seharusnya diberi muatan-muatan nilai-nilai kebenaran filosofis yang dideduksi dari asas-asas hukum oleh kekuasaan, pada kenyataanya diberi muatan kekuasaan itu sendiri yang harus dipandang sebagai kebenaran. Manipulasi kebenaran yang terjadi disini berakar penyesatan logika melalui permainan bahasa (language of the game) bahwa hukum itu sama dengan undang-undang dalam aliran positivisme. Kata Kunci: Hukum, Moral, dan Kekuasaan 

scholarly journals RIGHTS OWNERSHIP TO CERTIFIED LAND CONFRONTED WITH THE CUSTOMARY LAW IN THE LEGAL SYSTEM IN INDONESIA

2018 ◽  
Author(s):  
Saim Aksnudin
Keyword(s):  
National Development ◽  
Land Rights ◽  
The State ◽  
Customary Law ◽  
Legal Certainty ◽  
The Status ◽  
Need For Support ◽  
The Law ◽  
The Right ◽  
Ownership Of Land

In the national development the role of land for the fulfillment of various purposes will increase, either as a place to live or for business activities. In relation to that will also increase the need for support in the form of guarantee of legal certainty in the field of land. The result of the research is the conception of the state of Indonesia is a state law, which contains the meaning in the administration of government and the state based on the law, the protection of the law is a universal concept of the rule of law. The legal certainty on land rights as intended by the UUPA encompasses three things, namely the certainty of the object of land rights, certainty on the subject of land rights and certainty about the status of landrights. Legal conception of land title certificate is a proof that issued by authorized legal institution, containing juridical data and physical data which isused as evidence of ownership of land rights in order to provide assurance of legal certainty and certainty of rights to a plot of land owned or possessed by a person or legal entity. With the certificate of rights, it is expected that the juridical can guarantee the legal certainty and the right by the state for the holder of the right to the land. This country's guarantee is granted to the owner or the holder of the certificate may be granted because the land is already registered in the state land administration system.

scholarly journals IMPACT OF THE VAT REVERSE-CHARGE MECHANISM ON THE CASH FLOWS OF CONSTRUCTION COMPANIES IN THE SLOVAK REPUBLIC

2018 ◽  
Vol 6 ◽  
pp. 522-528
Author(s):  
Angelika Kútna ◽  
Norbert Gyurián ◽  
Zoltán Šeben
Keyword(s):  
Slovak Republic ◽  
Financial Burden ◽  
Value Added ◽  
Cash Flows ◽  
Business Environment ◽  
Value Added Tax ◽  
Construction Companies ◽  
Study Results ◽  
The Law ◽  
Reverse Charge

In 2015, the Slovak Parliament adopted the Law on Amendments to the Law on Value-Added Tax. This law came into force on January 1, 2016. One of the most significant changes was the introduction of a reverse-charge for the provision of construction works. A government statement of its positive influence on the business environment is inconsistent with the two-year experience in the building sector. The main goal of this paper is to establish the reason for the practical effects of the value-added tax reverse-charge mechanism on the construction companies. The hypothesis is that the negative effect on the cash flows of the construction companies increases ‘opportunity costs’ connected to excessive deductions. The paper focuses on evaluating and quantifying such an effect. It presents a comparison of the conditions before and after the adoption of the Act. No. 222/2004 Coll., as amended in 2016 and includes factors that influence costs and cash flows of construction companies. It but does not consider factors related to turnover and the economic situation.  The reverse-charge mechanism affects the total of tax owing, the total deductible tax, the total excessive deduction, and the construction companies’ cash flows. In this study, the data from the information system of the Slovak Republic, under the condition of anonymity, are analyzed for the period 2014–2017. The effect of the value-added tax is quantified by way of financial interest expenses. These expenses depend on time limits for the excessive deduction, total of tax owing, and on the excessive deduction amount. Indicators of ‘Financial Burden 1’ and ‘Financial Burden 2’ are calculated. The results show that the Law on Amendments of Value Added Tax has significantly affected the constructions companies since January 2016. The reverse-charge system has not changed the delay in excessive deduction payments to the taxpayer’s bank account. It has changed the amount of excessive deduction expressed through money and the total tax owing. Based on the study results, this change markedly affects the financial burden of construction companies and provides an ‘opportunity cost’ Value Added Tax payers‘ construction company.

scholarly journals The State Regulation of the Hotel and Restaurant Business in the Context of the COVID-19 Pandemic

2021 ◽  
Vol 5 (520) ◽  
pp. 241-245
Author(s):  
V. О. Martynenko ◽  
Keyword(s):  
Negative Impact ◽  
State Regulation ◽  
The State ◽  
Entrepreneurial Activity ◽  
State Support ◽  
Public Authorities ◽  
Difficult Situation ◽  
The Social ◽  
Business Entities ◽  
Further Development

The axiom of present is that Ukraine has a very difficult situation in the sphere of hotel and restaurant business caused by the COVID-19 pandemic. This situation has developed not only due to the underdevelopment of this sphere, also because of the significant shortcomings in the system of the State regulation of entrepreneurial activity in the pandemic, which makes this issue a topical scientific problem. The publication is aimed at analyzing the extant status of operation of the hotel and restaurant business under quarantine restrictions, as well as developing proposals for providing the State support to business entities in order to minimize losses during the COVID-19 pandemic. Theoretical and methodological grounds of research are the basic principles of development of hotel and restaurant business in a crisis, scientific works of Ukrainian scholars. The following methods were used in the course of the research: logical-juristic (to analyze the legislation of Ukraine on measures of the State support for business entities in connection with the COVID-19 pandemic); systematization (defining forms of the State aid); hypotheses and assumptions (in the preparation of proposals for further regulation of the provision of the State support to the hotel and restaurant business). As a result of the research, it is determined that the introduced support measures on the part of the State allowed to reduce the negative impact of the COVID-19 pandemic on the hotel and restaurant sector for the short-term period only. Renewal and further development of this sphere is impossible without the introduction of new approaches to the relations between the State and business, which have established determined in Ukrainian society, without increasing the social consciousness of business and increasing the level of its contact with public authorities. To achieve this goal, it is necessary to improve the system of adjustment of efforts of the State authorities, local self-government bodies and business entities in this sphere.

scholarly journals Organization and Methodological Support of Financial Monitoring in an Auditing Firm: New Requirements

2020 ◽  
pp. 55-69
Author(s):  
О. LUBENCHENKO
Keyword(s):  
Asset Management ◽  
Weapons Of Mass Destruction ◽  
Regulatory Requirements ◽  
Corporate Rights ◽  
Previous Edition ◽  
Regulatory Bodies ◽  
The Law ◽  
Financing Of Terrorism ◽  
Financial Monitoring ◽  
Responsible Person

The requirements to implementation of financial monitoring by auditing entities, as specified by the Law of Ukraine “On prevention and counteraction to legalization (laundering) of proceeds from crime, financing of terrorism and financing of proliferation of weapons of mass destruction” from 06.12.2019 No 361-ІХ, enforced on 28.04.2020, are analyzed. The existence of unclear interpretations of some notions in the this Law of Ukraine or heavy financial sanctions that may be imposed on auditing entities call for elaboration and introduction of internal firm documents concerned with financial monitoring. While in the previous edition of the above Law of Ukraine the features of financial monitoring organization were specified for auditing entities in case of rendering certain categories of services to a client (realty transactions; asset management; raising funds to establish legal entities, support to their operation and management, buying and selling of corporate rights), they are not found in the updated edition of this Law of Ukraine. Therefore, auditing entities need to rely upon general norms of the Law of Ukraine in organizing financial monitoring. A series of administrative documents were elaborated for this purpose: the order on assignment of a person responsible for carrying out financial monitoring; the conclusion of business character test for the candidate on the position of the responsible person, the Rules for financial monitoring of an auditing entity, and the monthly fact sheet of the responsible person about the results of carried out measures on financial monitoring.    The developed Rules of financial monitoring cover all the regulatory requirements for the implementation of financial monitoring, with the possibility of making change in case of need. The Rules must be informed to the staff of an auditing entity, engaged in rendering auditing and non-auditing services, through the involvement in internal training on financial monitoring issues. Apart from the Rules, it is proposed to supplement the working documents supporting the financial monitoring procedures by the following sections: (i) “Documentary support to financial monitoring of auditing entities”; (ii) “Personnel and personnel training on financial monitoring issues”; (iii) “Documentary support to interactions with the State Service of Financial Monitoring of Ukraine, ministries and administrative departments”, which are supposed to help auditing entities to fully observe the regulatory requirements and avoid heavy financial sanctions on the part of controlling and regulatory bodies.  

scholarly journals Financial control as a tool in overcoming corruption

2021 ◽  
Vol 1 (1) ◽  
pp. 326-332
Author(s):  
Oleksandr Neklesa ◽  
Elvira Sydorova ◽  
Yana Paleshko
Keyword(s):  
Financial Resources ◽  
Financial Control ◽  
Public Confidence ◽  
Government Programs ◽  
Audit System ◽  
The Law ◽  
Business Entities ◽  
Tax Reporting ◽  
Effective Use ◽  
Financial Transactions

Corruption offenses nowadays remain a serious threat to the national security of a state. Persons empowered to perform state functions are the basic sources of corruption risks. The main document that outlines the basic principles of preventing and combating corruption in our country is the Law of Ukraine "On Principles of Preventing and Combating Corruption" and "On Amendments to Certain Legislative Acts of Ukraine on Liability for Corruption Offenses." Corruption in public finances is a threat that gives a momentum for the development of forgery of accounting and tax reporting documents, misappropriation of assets allocated for financial resources funds, concealment of financial transactions and falsification of business entities’ documents. State financial control should ensure the effective use of budgetary resources, extra-budgetary financial resources and state property. In order to combat corruption, it is necessary to introduce transparency at the stages of budget allocation and openness in the control system in this area. It is this transparency that will help not only to overcome corruption, but also to strengthen public confidence in the state and the fulfillment of its functional responsibilities. And also to ensure compliance with the supremacy of law in this area, i.e. to ensure the equality of all before the law and responsibility for violations. Financial control can be enhanced through effective audit. The essence of the audit is a real assessment of the feasibility of government programs on the criteria of economy, productivity and efficiency. It is an audit that is a separate and real source of data, as it does not belong to any political forces or institutions. Based on the above mentioned, it is advisable to adapt the existing audit system in Ukraine in accordance with the best foreign experience.

scholarly journals KAJIAN KRIMINOLOGI PEREDARAN NARKOTIKA (SEBUAH STUDI DI KABUPATEN ACEH TIMUR)

2019 ◽  
Vol 5 (1) ◽  
Author(s):  
Muammar
Keyword(s):  
Environmental Factors ◽  
Development Process ◽  
Negative Impact ◽  
National Development ◽  
Deterrent Effect ◽  
Youth Organizations ◽  
The People ◽  
The Republic ◽  
Work Family ◽  
The Impact

The impact of globalization has penetrated throughout the civilization of the nations of the world, running so fast. Especially very influential on changes in various lines of life. Related to this is the issue of increasing narcotics abuse and narcotics illicit trafficking which has created conditions that have hindered the development process and weakened civilization. Eradication of narcotics distribution is a national problem, because it has a negative impact that can damage and threaten the lives of the people, nation and state and can hamper the national development process. The rise of narcotics abuse does not only occur in big cities, but has reached small cities in all ten regions of the Republic of Indonesia, including East Aceh Regency. The increasingly diverse lifestyle of the people due to the influence of globalization also contributes to the increasing circulation of narcotics in East Aceh District. This certainly must receive serious attention, because if we look at what is happening in East Aceh District and several other regions in Indonesia, the crime of narcotics distribution from time to time always increases which in the end is increasingly unsettling the community, so before these things increase In East Aceh District, an effective solution must be found to eradicate it. Factors that cause a person to commit a narcotics crime in East Aceh Regency are due to economic factors where a person needs money to live and the difficulty of getting work, family environmental factors, social environmental factors and availability / lack of supervision factors. Efforts in tackling narcotics circulation in East Aceh district involve many parties, including: firstly, pre-emptive efforts by providing counseling in the community and schools about narcotics carried out by the police in tackling narcotics crime in East Aceh District. Second, preventive measures (prevention) by conducting raids and patrols routinely, providing oversight of the association and positive activities carried out by the police, prosecutors, religious leaders, community leaders and youth organizations. The third repressive effort (action) which aims to provide a deterrent effect on the perpetrators of drug trafficking crimes involving all law enforcement officials ranging from the Police, Attorney and District Courts and Detention Houses.Keywords: Crimonology, Narcotics Circulation. 

Sign in / Sign up

Export Citation Format

Share Document