Vaccines lag will slow Latin American recovery

Economic recovery this year will not compensate for last year’s sharp fall

Fidesz’s grip on Hungary will weaken in 2022

Significance After years of being on the losing end of an electoral system crafted by ruling Fidesz to favour large, unitary blocs, the opposition is marching towards unity. Although Fidesz’s path to victory in 2022 is still wider than that of the opposition, whoever wins, the era of stability that began in 2010 will end next year. Impacts A sharp fall in political stability and predictability will put strong downward pressure on the forint and raise borrowing costs from 2022. Orban’s weakening would spell the end of Central Europe’s Eurosceptic pole, and reduce opposition to Franco-German EU integration efforts. The United States and Western Europe will ramp up criticism of Orban and indirect support for the opposition.

Needle insertion-induced quasiperiodic cone cracks in hydrogel

Needle insertion in hydrogel characterised by a gradual increase in the force followed by a sharp fall corresponds to propagation of stable cone crack. This is the first report of periodic, stable and controlled 3-D cone cracks inside the hydrogel.

Hematological Picture of Rabbits Immunized with Pseudomonas aeruginosa

The current study was established to find out the role of immunization of Pseudomonas aeruginosa-whole sonicated antigen in adult white fur domestic rabbits. To achieve this goal, fifteen rabbits were allocated into 3 groups, the first group was immunized with P. aeruginosa–whole sonicated antigen and challenged with viable pathogenic P. aeruginosa; the second group (control negative) was treated with phosphate buffer saline and the third group was injected with viable pathogenic P. aeruginosa (control positive). The results demonstrated increasing levels of the measured parameters blood picture (total WBCs, lymphocytes, and granulocytes, RBCs and hemoglobin concentrations) in the first group compared with control negative group (T test was used). In contrast, a sharp fall was noted in total thrombocytes (platelets) count in the first group compared with control negative group. It can be concluded that immunization with P. aeruginosa– whole sonicated antigen may consider as a potent reproducible effective immunogen model for experimental immunological studies in rabbits

A study on the effect of tourist attributes and travel patterns on sightseeing excursions

Kyoto City in Japan has 17 world heritage spots that are referred to as the Historic Monuments of Ancient Kyoto. It has long been chosen as a school trip destination for Japanese students and is recognised as an exemplary destination for domestic travel, and is considered as one of the top destinations in the world to visit. However, the visiting crowds tend to congregate in just a few places, which leads to overcrowding and can make tourist attractions less appealing. This can have a detrimental effect on a city's tourism and lead to a sharp fall in revenue. With that in mind, a team of researchers, represented by Dr Yoshiaki Kouchi, in the Department of Public Policy within the Faculty of Sociology, Bukkyo University in Japan is studying the effect of tourist attributes and travel patterns on sightseeing excursions.

Protestant Population Decline in Southern Ireland, 1911–1926

The sharp fall in the Protestant population of southern Ireland during the intercensal period 1911–26 has become something of a hot topic in Irish history circles with causes being proposed that range from ‘widespread driving out’ to long-term infertility. This paper discusses the differing reasons for Protestant decline put forward by academics and looks at the evidence for and against the various theses. Census reports for the 1871–1911 period are used to question theories of comparatively high long-term Protestant natural decline. Detailed analysis of information from the 1911 census, now available online, and 1926 census reports is used to cast new light on the nature of 1911–26 Protestant decline. The primary conclusion is that exceptionally high levels of emigration of civilian Protestants was the primary cause of decline.

Sagasti will ease pre-election tensions in Peru

Significance The new government will bring a much-needed easing of tensions following the widespread protests that met the short-lived presidency of Manuel Merino. Sagasti should be able to count on support from Congress and himself avoid impeachment. His cabinet is technically competent. The issue of constitutional reform is likely to gain salience over the period of election campaigning. Impacts The economy will revive in 2021, but not sufficiently to offset the sharp fall this year. Plans to draft a new constitution in Chile will add to pressures for constitutional reform. The proliferation of presidential candidates means the elections will go to a second round.

Brazil's debt outlook improves but surplus is distant

Subject Outlook for Brazilian debt. Significance With a sharp fall in interest rates since 2016 and a lower-than-expected fiscal deficit last year, Brazil's fiscal and public debt panorama improved in 2019. The public debt stock, which earlier in 2019 was projected to end the year near 80% of GDP, fell to 77.7% by end-November and is likely to have fallen further in December. Impacts A primary surplus is not on the cards for this year. Despite an improved outlook, a 2020 improvement to Brazil's sovereign rating is possible, but far from certain. A return to investment grade is at least some years away.

TAX ON THE WITHDRAWAL OF CAPITAL AS A MECHANISM TO INCREASE THE CAPITALIZATION LEVEL OF ENTERPRISES

Topicality. Increasing the level of capitalization of the economy is of strategic importance for Ukraine, since market transformation in Ukraine is inherently capitalization of the economy. All this necessitates further investigation of the mechanisms of capitalization of enterprises, including tax mechanisms.Aim and tasks. Analyze tax on the withdrawal of capital and experience of its use in Estonia, identify its benefits and potential risks, propose improvements to its legislative support.Research results. The corporate income tax system is designed in such a way that dividends can be paid even if no profit is received. In the future, these dividends derived from one of the schemes are deposited on offshore accounts. According to conservative estimates of experts of the Institute for Social and Economic Transformation, the losses of the budget of Ukraine from offshore schemes amount to UAH 50-65 billion a year. The chances of tax evasion are great. Large Ukrainian companies, with the help of auditors, can reduce their tax burden from 18% to 3-4%. The main disadvantages of the income tax collection system are the discretion of the administration (the decision-making power of the officials at its discretion) and corruption. Many experts and businessmen see the solution to this problem by replacing the income tax with tax on the withdrawal of capital. This will ensure that business profits are not taxed as long as they are not paid out to the owners in the form of dividends and equivalent payments, that is, they are not taken out of business. Estimates of the negative short-term impact on budget revenues differ. The most optimistic estimates range from 0.5% to 1.2-1.3% of GDP. It is likely that the use of capital deduction will lead to a decrease in tax revenues, but such a sharp fall as the situation in Estonia in Ukraine is not likely to be, since the new tax will be paid by "loss-making" enterprises, and the operations used today for tax evasion will be taxed. Estimates of the negative short-term impact on budget revenues differ. The most optimistic estimates range from 0.5% to 1.2-1.3% of GDP. It is likely that the use of tax on the withdrawal of capital will lead to a decrease in tax revenues, but such a sharp fall as the situation in Estonia in Ukraine is not likely to be, since the new tax will be paid by "loss-making" enterprises, and the operations used today for tax evasion will be taxed.Analysis of the draft Law of Ukraine on tax on the withdrawal of capital allows to determine a number of proposals for its improvement in the part of enterprises that have accumulated losses in the amount exceeding their own capital or in the amount of UAH 100 million; exemption from tax on interest on the deposit, if they remain on it; defining the norms of the shortage that the enterprise can attribute to the property provided free of charge; deviation of the contractual value of the taxpayer's property upwards or downwards from ordinary prices; the unification of the tax rate on the withdrawal of capital with the tax rate on personal income.Conclusion. Tax on the withdrawal of capital forms a self-regulating economic system, that is, if dividends are not paid and invested in the development of an enterprise, then production increases, which in turn leads to an increase in value added tax and wage tax. The introduction of this tax will provide a number of positive consequences: growth of business activity, acceleration of modernization of enterprises, redistribution of the tax burden on all taxpayers, reduction of the tax burden; simplification of control and simplification of tax accounting, reduction of methods of tax minimization, shadowing of the economy.