Expected economic impacts of income tax in Saudi Arabia: Macroeconomic analysis: الآثار الاقتصادية المتوقعة لضريبة الدخل في المملكة العربية السعودية: دراسة تحليلية للاقتصاد الكلي

The study aims to predict the macroeconomic effects of income tax in Saudi Arabia to diversify government income flows and increase non-oil government revenues. The research approach is based on using the dynamic general equilibrium model of the Saudi economy to achieve the results of simulating the scenario of applying income tax by 5% during the period (2020-2030). The results exhibit that income and profit tax reform showed positive results when transferring revenue through government transfers to households. A 5% income and profit tax are expected to improve GDP performance by 0.12%. Macroeconomic indicators, including consumption, investment, exports, and imports, are also improving slightly. Government revenues have enhanced due to the implementation of this scenario, and non-oil revenues are expected to increase from 370 billion Saudi riyals in 2020 to about 568 billion Saudi riyals in 2030. This will increase the contribution of non-oil revenues to total government revenues from 47% in 2020 to 57% in 2030. If income from income tax in the economy is transferred through government transfers to households, this will improve economic welfare.

Local Government Financing Practice and Challenges in Developing Countries with Reference to Nepal

The fundamental problem confronting most local authorities, especially those managing cities in developing countries, is the widening gap between the availability of financial resources and municipal spending needs. One of the main reasons for this increasing fiscal gap is the rapid growth of urban populations, which creates an ever-increasing demand for public services, new public infrastructure, and its maintenance. Most cities in developing countries depend mostly on central government transfers, with lesser revenues derived from property taxation and service charges. The main aim of this study is to review the scholarly published documents regarding the responsible governing system of the local government in the developing economy and to observe the challenges to them to manage fiscal imbalances. Looking at the practice of fiscal federalism and economic decentralization, there is no uniformity in the global experience. Developed countries are at the forefront of this agenda while developing countries have different experiences. It is important to find the right path with the appropriate solution to the problem seen from the international experiment and move forward accordingly. It is important not only to make laws but also to achieve prosperous prosperity through their proper use and for that it is important to understand that the implementation of the law should be done in the right spirit.

Financial inclusion and poverty reduction in Nigeria: A survey-based analysis

Financial inclusion's impact on poverty and economic development has remained a focus of researchers and policymakers for years, owing to its function in facilitating access to financial services, which act as a stimulus for general economic growth and development. The purpose of this study is to determine the effect of financial inclusion on poverty reduction in Nigeria. We estimated two models using data from the World Bank's 2017 Global Findex survey for Nigeria: a Logit model and an Instrumental variable model. The dependent variable was a dummy variable labeled "poor," which was set to 1 if the individual's "within economy income quintile" was in the bottom 40%, and 0 otherwise. The explanatory variables include, financial inclusion index constructed by the author, age of respondents, educational level of respondents, gender, employment status, wage, government transfers, pension, savings, and self-employment. The study established that financial inclusion reduces household poverty in Nigeria even after controlling for endogeneity in the explanatory variables.

PENGARUH TRANSFER PEMERINTAH PUSAT DAN FISKAL STRESS TERHADAP BELANJA DAERAH DI PROVINSI PAPUA BARAT

This research aims to examine the effect of central government transfers, fiscal stress, regional taxes and gross regional domestic product on regional spendingofdistricts/cities in West Papua Province, to analyze the effect of fiscal stress from two indicators, namely the ratio of local revenue to regional spending and the difference in expenditurewith revenue. Using panel data analysis method, the first equation uses a random effect model and the second equation uses a fixed effect model.Finding / Originality: That government transfers and gross regional domestic product have a positive and significant effect on regional spending. By using two measures of fiscal stress, it is found that the fiscal stress variable, both through the ratio of original local income to regional spending, and the difference in expenditures and regional revenues, has a significant and positive effect on regional spending

Poverty and Sources of Income Support Among Older People With Disabilities and Out of Work: Comparison of Canada and the United Kingdom

The debate about extending working lives in response to population ageing often overlooks the lack of employment opportunity for older adults with disabilities. Without work, their living standards depend heavily on government transfers. This study contributes to the literature on health inequalities by analysing the sources of income and poverty outcomes for people aged 50 to 64 in two liberal democratic countries yet with contrasting disability benefit contexts – Canada and the United Kingdom. This choice of countries offers the opportunity to assess whether the design of benefit systems has led the most disadvantaged groups to fare differently between countries. Overall, disabled older persons without work faced a markedly higher risk of poverty in Canada than in the UK. Public transfers played a much greater role in the UK, accounting for two-thirds of household income among low-educated groups, compared with one-third in Canada. The average benefit amount received was similar in both countries, but the coverage of disabled people was much lower in Canada than in the UK, leading to a high poverty risk among disabled people out of work. Our findings highlight the importance of income support systems in preventing the widening of the poverty-disability gap at older ages.

US Households Incomes under Pandemic

Considering income is a key point for most people’s well- being, the article is focusing on the role of economic situation in the country and government policy transfers to meet American household’s expenses under pandemic. While economic trends being quite positive for the well-being of most adults before pandemic, it has become a serious problem for them during COVID‑19 stress. The economic well-being of the American households depends mainly on wages; with dividends, percent, rent income and government transfers coming by. The government programs have been of great importance for personal incomes support, but the uncertainty of the economic recovery demands to continue providing needed relief to Americans. Meanwhile continuing extraordinary budget spending for providing relief to American families and communities have turned out in the highest – since the middle of the last century – federal budget deficit. After President Biden in March signed into law the American Rescue Plan, this financial year budget’s deficit may even exceed the previous one. President Biden’s proposals may also represent important steps toward increasing tax revenues by making wealthy people to pay more fair amount of taxes on their income; raising the top marginal income tax rate, requiring. But, it would depend on changing current laws regulating taxes. The article also highlights continuing financial concerns for many households facing uncertainty of economic recovery, and especially challenges for those who lack savings, government transfers. It is pointing out that at the beginning of the Biden’s presidency the percentage of Americans who worry a great deal about hunger, homelessness as the consequences of poverty, unemployment has been rising. The financial security of the households will depend on the economic situation; the government policy to meet income declines and provide greater income stability through increased social insurance.