Industry as a Key Factor for Economic Recovery and Competitiveness of the Europe

2014 ◽  
Vol 613 ◽  
pp. 441-445 ◽  
Author(s):  
Viera Kyseľová
Keyword(s):  
European Union ◽  
Global Economy ◽  
New Technology ◽  
Value Added ◽  
Integrated Approach ◽  
Growth Potential ◽  
Economic Recovery ◽  
The European Union ◽  
Goods And Services ◽  
Use Of Resources

Promotion of an integrated approach for industrial policy at European and national levels is crucial to ensuring the future competitiveness of the European Union and to raise growth potential. Essential for economic success and economic recovery of the European Union is an integrated single market, which creates an attractive environment for business, production of goods and services. Industrial modernization, investing in innovation, new technology, production inputs and skills, increased productivity, efficient use of resources and goods and services with high value added are prerequisites for achieving Europe's comparative advantage in the global economy. The main source of industrial future and competitiveness of the European Union are becoming investments in innovation and key technologies that redefine global value chains, make more efficient use of resources and redesign the international division of labor.

scholarly journals Subsidies and Value-Added Tax: A Comparative Study of Law and Practice in Canada and the European Union

2019 ◽  
pp. 533-579
Author(s):  
Robert F. van Brederode ◽  
Simon B. Thang
Keyword(s):  
European Union ◽  
Comparative Study ◽  
Private Consumption ◽  
Value Added ◽  
The European Union ◽  
Value Added Tax ◽  
Administrative Practices ◽  
Consumption Expenditures ◽  
Goods And Services ◽  
The Right

Value-added tax (VAT) is a tax levied on private consumption expenditures. Where VAT is levied on each transaction within the supply chain, the aim of taxing only private consumption is achieved by allowing businesses a credit to offset the VAT paid on purchases against the VAT collected on sales. This article provides a comparative study of the law and practice in the European Union and Canada regarding subsidies and VAT (in Canada, the goods and services tax). Subsidies are among the financial instruments used by governments, and sometimes private organizations, to support the realization of certain policies. This article is concerned with determining the circumstances in which subsidies may be included in the consideration paid in a transaction and may therefore be subject to VAT, and the extent to which the right to claim input tax credits can be exercised. The authors investigate these questions by discussing the nature of subsidies from the perspective of VAT principles, reviewing the statutory provisions and administrative practices in the European Union and Canada, and analyzing the relevant case law in both jurisdictions.

scholarly journals U.S. in the global FDI’ flows: repatriation of foreign earning by U.S. from EU members as the new global trend

2020 ◽  
Vol 28 (1) ◽  
pp. 172-183
Author(s):  
Yulia A. Konovalova
Keyword(s):  
European Union ◽  
Regional Integration ◽  
Global Economy ◽  
Tax Reform ◽  
Trade Deficit ◽  
The European Union ◽  
Tax Reforms ◽  
Economic Relations ◽  
Goods And Services ◽  
Reform Implementation

Scientific investigation covers the questions of U.S.’ involvedness into the international economic relations and into the international trade of goods and services and international movement of FDI as well. The fact that USA is the larger importer and the second exporter of goods in the world (2018), and the largest exporter and importer of commercial services (2018), the biggest host economy of FDI, and the largest investor (till 2017) the investigation of the American investment cooperation is the rather important affair, that can show the tough dependence of U.S.’ economy of foreign countries investments flows and regimes. In accordance with UNCTAD data U.S. is holding the first place as the exporter of FDI during the long period till 2018, that showed the negative number of FDI outflow in 2018 as the result of tax reform’ implementation at the end of 2017. Implementation of open and tough foreign trade policy (the policy of protectionism) through the import tariffs increasing is aimed at trade deficit reduction, protection and support of the American producers, implementation of tax reform at the end of 2017, making come true the soundbites of D. Trump “Make America Great Again” and “America first”. The author analyzed investment cooperation of U.S. and EU, its dynamic, specialization, directions. The author came to conclusion that correlation of United States’ investment indicators with European Union showed an unequal evaluation of each Union’ member and determined the disproportion of understanding and examination of regional integration not as the complex subject of the global economy but as the set of different and independent subjects. Investigation of U.S.’ FDI export and import statistics gave the author opportunity to come the conclusion that there is the specific of U.S.’ investment outflow into the European Union countries reflected through the limited set of investment recipients. At the same time, implementation of the tax reforms at the end of 2017 could lead to the changing of global investment flows from low tax jurisdictions to USA, for example.

scholarly journals Selected Aspects of the Copenhagen Economics Study on Reduced VAT Rates in the Current Conditions of the Moravian-Silesian Region

2012 ◽  
Vol 3 (1) ◽  
pp. 21-41
Author(s):  
Kateřina Randová ◽  
Michal Krajňák
Keyword(s):  
European Union ◽  
Regression Analysis ◽  
Value Added ◽  
Tax Rates ◽  
The European Union ◽  
Value Added Tax ◽  
Tax Rate ◽  
Goods And Services ◽  
Deductive Method ◽  
Dominant Influence

This paper deals with a long-debated issue of the application of value added tax rates to labour-intensive services. The level of value added tax rates has a dominant influence on the tax liability of suppliers of these services and subsequently on the amount of available funds that they could use for development of their business. The aim of this paper is a presentation of results of the student grant “Quantification of Impacts of Application of Reduced Value Added Tax Rate to Locally Supplied Services on the Suppliers of these Services”, which is focused on selected aspects of the “Study on reduced VAT applied to goods and services in the Member States of the European Union” in the conditions of the providers of these services from the Moravian-Silesian Region. For this paper the methods of regression analysis and analysis of variance – ANOVA were used. The deductive method and method of analysis have also been used.

scholarly journals THE COMMON SYSTEM ON THE VALUE ADDED TAX OF THE EUROPEAN UNION APPLIED TO THE INTRA-COMMUNITY OF PURCHASES OF MOTOR VEHICLES

2021 ◽  
Vol 14(63) (2) ◽  
pp. 73-78
Author(s):  
Steliana Busuioceanu ◽  
Keyword(s):  
European Union ◽  
Value Added ◽  
Motor Vehicles ◽  
The European Union ◽  
Value Added Tax ◽  
Common System ◽  
Goods And Services ◽  
Council Directive ◽  
Title Vi ◽  
The Common

The common system of value added tax (VAT) of the European Union (EU) is implemented through Directive 2006/112/EC amending the text of Directive 6, namely of Council Directive 77/388/EC of May 17th 1977 to clarify the existing EU VAT legislation. This tax applies to all transactions made in the EU by a natural person or a legal entity called a taxable person, who provides goods and services in the course of their business. Moreover, imports of goods and services by any taxable person are also subject to VAT. The intra-community purchase of means of transport represents the entry into Romania of motor vehicles coming from member states of the European Union, goods that are transported from another member state to Romania. The fiscal treatment is very different depending on the specifics of each particular circumstance at the intra-community purchase and it is regulated by Title VI of the Tax Code which transposes the provisions of Directive 2006/112/EC. We aim at analyzing and capturing the accounting and fiscal diversity generated by these particular circumstances in the intra-community purchase of motor vehicles.

Our Debts Heavy... (on the Monograph “Debt as a Phenomenon of the XXI Century”)

2015 ◽  
pp. 152-159 ◽  
Author(s):  
T. Leonova
Keyword(s):  
European Union ◽  
Economic Development ◽  
Global Economy ◽  
Debt Financing ◽  
The European Union ◽  
National Economies

Lending capital, credit and debt financing have been around and used to fuel economic development since the time immemorial. There are innumerable studies by international and Russian scholars that look into the evolution of these notions and lending instruments employed. The collective monograph edited by A. Porokhovsky and published by the MSU in 2014 intends to provide an all-around political and economic as well as applied review of the current debt issues faced by the global economy, national economies of Russia, U.S.A. and countries of the European Union. It uses a variety of academic and methodological postulates that range from the reproduction approach to modern macroeconomic doctrines.

Ocena antykryzysowej polityki gospodarczej Stanów Zjednoczonych i wybranych państw członkowskich Unii Europejskiej w latach 2005–2014

2016 ◽  
pp. 26-46
Author(s):  
Marcin Jan Flotyński
Keyword(s):  
United States ◽  
European Union ◽  
Financial Markets ◽  
Global Economy ◽  
Global Financial Crisis ◽  
The United States ◽  
The European Union ◽  
High Volatility ◽  
The Global Financial Crisis ◽  
Domestic Products

The global financial crisis in 2007–2009 began a period of high volatility on the financial markets. Specifically, it caused an increased amplitude of fluctuations of the level of gross domestic products, the level of investment and consumption and exchange rates in particular countries. To address the adverse market circumstances, governments and central banks took actions in order to bolster the weakening global economy. The aim of this article is to present the anti-crisis actions in the United States and selected member states of the European Union, including Poland, and an assessment of their efficiency. The analysis conducted indicates that generally the actions taken in the United States in response to the crisis were faster and more adequate to the existing circumstances than in the European Union.

scholarly journals Post COVID-19 Recovery and 2050 Climate Change Targets: Changing the Emphasis from Promotion of Renewables to Mandated Curtailment of Fossil Fuels in the EU Policies

Energies ◽  
2021 ◽  
Vol 14 (5) ◽  
pp. 1347
Author(s):  
Kyriakos Maniatis ◽  
David Chiaramonti ◽  
Eric van den Heuvel
Keyword(s):  
Climate Change ◽  
European Union ◽  
Renewable Energy ◽  
Global Economy ◽  
Fossil Fuels ◽  
Global Climate ◽  
Renewable Energy Sources ◽  
Climate Change Policy ◽  
Climate Impacts ◽  
The European Union

The present work considers the dramatic changes the COVID-19 pandemic has brought to the global economy, with particular emphasis on energy. Focusing on the European Union, the article discusses the opportunities policy makers can implement to reduce the climate impacts and achieve the Paris Agreement 2050 targets. The analysis specifically looks at the fossil fuels industry and the future of the fossil sector post COVID-19 pandemic. The analysis first revises the fossil fuel sector, and then considers the need for a shift of the global climate change policy from promoting the deployment of renewable energy sources to curtailing the use of fossil fuels. This will be a change to the current global approach, from a relative passive one to a strategically dynamic and proactive one. Such a curtailment should be based on actual volumes of fossil fuels used and not on percentages. Finally, conclusions are preliminary applied to the European Union policies for net zero by 2050 based on a two-fold strategy: continuing and reinforcing the implementation of the Renewable Energy Directive to 2035, while adopting a new directive for fixed and over time increasing curtailment of fossils as of 2025 until 2050.

scholarly journals VAT Efficiency—A Discussion on the VAT System in the European Union

2021 ◽  
Vol 13 (9) ◽  
pp. 4768
Author(s):  
Anna Kowal ◽  
Grzegorz Przekota
Keyword(s):  
European Union ◽  
Tax Evasion ◽  
Value Added ◽  
Square Function ◽  
The European Union ◽  
Tax System ◽  
Aggregated Data ◽  
Tax Gap ◽  
Standard Rate ◽  
Tax Fraud

The effectiveness of the tax system can be analysed in various ways. According to the authors one of manifestations of such effectiveness is resistance to tax evasion. This phenomenon is influenced by multiple factors, with few being the level of VAT rates and the number of rates in force in the country concerned. The aim of the considerations is therefore to analyse how the standard VAT rate as well as the number of rates affect the effectiveness of this tax. The research was based on a literature query in the field of value added tax in the European Union. In addition, the problem of tax evasion was indicated and the aggregated data on the size of the tax gap in the Member States were presented. Then, there are the results of the research for 27 European Union countries for 2011–2019. The efficiency of VAT collection was modelled using square function, determining the significance of the parameters of this function, as well as the value of abscissa, which made it possible to group the countries based on how they maintained the efficiency of VAT collection over the analysed period of time. The final part of the study concentrates on the relationship between the efficiency of tax collection and the amount of both the basic rate and the number of rates. The conclusions of the research are as follows: a tax system with a small number of reduced rates, and preferably with one relatively low standard rate, is the system least susceptible to tax fraud. The research also shows a positive correlation between the value of the basic VAT rate along with the number of preferential rates and the scale of the tax gap, i.e., in countries with a higher standard VAT rate and a greater number of preferential rates, the tax gap is greater. The study will enable further investigation into the strategy of determining the optimal VAT rate and the process of its unification. Proposed changes may contribute to increasing the efficiency of VAT administration in EU countries, reducing the shadow economy, tax fraud and positively influencing economic growth.

ANALYSIS OF THE NATURE OF THE EUROPEAN DIGITAL TAX IN COMPARISON WITH THE CURRENT VAT SYSTEM AND ITS IMPACT ON THE ECONOMY AND MANAGEMENT OF ECONOMIC ENTITIES

2021 ◽  
Vol 2 (4) ◽  
pp. 42-48
Author(s):  
S. V. ZAYTSEV ◽  
Keyword(s):  
European Union ◽  
Civil Society ◽  
European Commission ◽  
Value Added ◽  
The European Union ◽  
Value Added Tax ◽  
Short Term ◽  
Low Level ◽  
Digital Services ◽  
The Many

In March 2018 the European Commission presented a proposal to adopt a digital services tax (DST) on certain types of revenues of multinational digital Companies. The purpose of the digital services tax is to compensate in the short term for the low level of corporate taxation of these companies in the European Union and thus meet the urgent need of civil society for greater tax fairness. DST is presented as an indirect tax on turnover and is often compared to value-added tax (VAT). In this article, the author seeks to highlight the many differences that exist between the harmonized European Union VAT and the new DST. In addition, the author challenges the idea that the DST will actually be an indirect tax and, most importantly, that it will effectively increase tax justice in the European Union.

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