Government Challenges Over Global Electronic Commerce Using FinTech

The challenge over most countries has been legislating related acts and regulations on global electronic commerce taxation, but they have not implemented the consumption tax system for global electronic commerce so far. Consumer payment tax (CPT) is based on fintech and thereby proposed so that consumers can pay the consumption taxes to related taxation office of the countries in accordance with consumer country's jurisdiction principle, considering the CPT is assessed to satisfy most of the electronic commerce taxation criteria and has the potential to be applied to electronic commerce.

Mapping Climate Justice

A three-dimensional climate justice approach introduces to share the benefits and burden of climate change in an economically efficient, legally equitable, and practically feasible way around the globe. Climate justice within a country pays tribute to low- and high-income households carrying the same burden proportional to their dispensable income through consumption tax, progressive carbon taxation, and a corporate inheritance tax. Climate change burden sharing between countries ensures those countries benefiting more from a warmer environment bear higher responsibility regarding climate change mitigation and adaptation. Climate justice over time is proposed by an innovative bonds climate change burden sharing strategy.

SPECIAL CONSUMPTION TAX INCENTIVE ON MARINE BUNKERS AND CARGO SHIFTING TO SHORT SEA SHIPPING IN TURKISH CABOTAGE ROUTES

Environment issue is one of the most important problems which must be solved urgently. Today, the effects of climate change linked to global warming have started to come into view. Some gases such as methane (CH4) and carbon dioxide (CO2) which are called as greenhouse gases (GHGs) are seen as the most important causes of global warming. Harmful exhaust gases and CO2 emissions arise out of burning of fossil fuels on board. Maritime transportation is the most efficient mode when compared to other modes. However, Turkey's passenger and cargo transportation mainly depends on road transportation which has high fuel costs compared to sea transportation. In this study, by evaluating cabotage bunker fuels, annual CO2 emissions from maritime ships sailing on Turkish cabotage line were investigated. Also fuel efficiency of maritime transport as well as the effects of shifting cargo between transportation modes on CO2 emissions were analysed.

Analysis of Income Attribution of Consumption Tax in China’s Central and Local Government

After the policy to replace the business tax with a value-added tax was launched, local finance has encountered greater difficulties. In recent years, the economic downward pressure has made the dilemma far more serious. Some scholars, even from state level, showed some intentions of recommending that the consumption tax should be changed from the current central tax to a local tax or a shared tax to relieve the pressure of local governments. In this paper, we proved by presenting recent year’s tax figures of business, consumption, and local and central fiscals and their growth rate that replacing the consumption tax with a local tax does not exactly correspond to the trend of China’s reform of the financial system, the functional orientation of the consumption tax, and the nature of the consumption tax itself and may trigger some problems, and it may still be a better choice for the consumption tax to serve as a central tax.

China's Economic Situation, Response and Prospect under the Epidemic Situation

On the basis of the demand side and the supply side, the paper respectively analyzed how novel Coronavirus affected Chinese economy: the weak demand caused the demand curve to move to the left, equilibrium output decreased and equilibrium price decreased. Due to the reduction of labor costs, enterprises have the incentive to increase production capacity at the production end. However, when the price is lower than the average variable cost of enterprises, the number of bankruptcies in the society starts to increase. One of the immediate causes of the economic downturn caused by COVID-19, which led to GDP growth of -6.8% in the first quarter of 2020, is a lack of consumption. Therefore, it is suggested that the government can appropriately reduce consumption tax and issue consumption vouchers, to improve consumer confidence and increase output. The ARIMA model was used to predict economic growth for the next seven quarters.

AUXÍLIO EMERGENCIAL - IMPACTOS NA RENDA E NO ICMS

The literature has shown that public policy programs based on social protection for the most needy, provide a reduction in income inequalities, as long as these policies bring neutrality to fiscal policy, that is, they do not increase the public deficit. The instruments of social protection, especially those of direct income transfer to the most needy, may result in an increase in consumption by the poorest classes, and consequently an improvement in tax revenue, especially in the collection of ICMS, consumption tax . So, we intend to show here that emergency aid, which is a temporary income transfer program implemented by the Federal Government to mitigate the impact of the economic crisis resulting from the COVID-19 pandemic, had direct implications for the economy; especially in improving the income of the most needy and a return, in part of the benefit, to the revenues of the States, in the form of taxation. Said Emergency Aid minimized the drop in collection, or even maintained the collection levels of ICMS, the most important tax of the States, which contributed to the revenue of these federated entities. As a result of the fiscal problems caused, Emergency Aid heated the economy and boosted consumption in order to keep the state ICMS tax collection at even higher levels, in many states, compared to the pre-pandemic period. The objective is to outline an empirical strategy to measure the impact that the emergency aid had on the collection of ICMS, that is, to measure the sensitivity of the variation of the ICMS of the States due to the injection of resources of this transfer program.

THE IMPACT OF FISCAL DETERMINANTS ON INVESTMENTS IN EUROPEAN UNION COUNTRIES. A PANEL DATA ANALYSIS

Taxation plays an important role in investment decisions and on net profit. In this view, this paper examines the fiscal determinants of investments realized by non-financial corporations in European Union (EU) countries. More exactly, the influences of profit tax and other important taxes like consumption and labor tax on the rate of investment are analysed. For this purpose, we use a panel analysis for 28 Member States from 2008 to 2018. In the presence of variables cointegration, we apply the fully modified ordinary least square (FMOLS) for investigating the long-run impact of taxation. Our results show a negative influence of the profit tax and a positive influence of consumption tax on the investment expansion. In addition, we find that the profit tax rate decreased after 2008 representing one of the most important fiscal measure adopted by the majority of EU Member States in order to stimulate the investment increase. The results are important for the governments, corporate governance of the companies and the investors, in order to understand the efficiency of their decisions to recover after a crisis. Keywords: Corporate tax policy, Rate of investment, Panel data.

Goods and Services Tax: Benefits and its Impact on Indian Economy

The Goods and Services Tax, or GST, took effect on July 1, 2017. The new tax system was designed to replace all current indirect taxes with a single, comprehensive tax. The Products and Services Tax (GST) is a consumption tax imposed on goods and services depending on their final destination (Bhushan Satya). Simply said, GST is a single tax that applies to the delivery of goods and services from the producer to the end user. In a nutshell, it's a tax imposed solely on value addition, with input tax credits transferred to successive stages of value addition, implying that the ultimate tax burden would fall on the end user of products or services. The anticipated advantages of implementing the GST are that it would decrease the cascading impact of taxes, i.e. it will eliminate tax on tax. It was also anticipated to stimulate demand for products and the elimination of a number of indirect taxes such as VAT, CST, Service tax, CAD, SAD, and Excise, among others, which would help to improve the Indian economy in the long term. This paper tries to highlight the cost and benefits bear by the economy due to implementation of the GST. The paper also tries to find out the expected rate of growth of economy after the GST. Finally, the study tries to conclude that how it would be disrupted and benefits the economy in the long run.