Methodological recommendations on digital rating of enterprises

Introduction. The introduction of tax rating will help to centralize the control over the activities of economic entities by various government agencies. On the other hand, tax rating will avoid subjectivity in the assessment of enterprises by the tax authorities and establish a transparent and understandable work of the tax authorities themselves for taxpayers and society as a whole. The purpose of the paper consists in a thorough study and analysis of international and domestic experience in rating the economic activity of enterprises by tax indicators in Ukraine to develop harmonized and unified guidelines for ranking business entities in the European integration of Ukraine. Results. To determine the company's rating by tax indicators, it is necessary to assess the company's payment of taxes, fees and other tax payments and introduce digital rating of the company's fiscal indicators, which, thanks to two-way communication, will reveal negative phenomena in enterprises and fiscal authorities. When ranking enterprises by tax indicators, it will be possible to avoid the corruption component in the distribution of budget funds, the provision of tax benefits, to identify the most important industries, regions and enterprises that need state aid. Also with the help of this rating and tax indicators, you can calculate the amount by region, region, industry, which large enterprises (unfortunately, the state as well) hide. You can also determine the reduction of gross product due to the large salaries of “predatory” top management. We remind you that Ukraine has a flat scale of taxation of individuals and the main tax revenues under this article are paid by the poor and middle class. That is, in fact, the poor and middle class pay pensions, including to the rich. Comparing the paid taxes and own revenues of the region plus determining the amount of domestic debt with its sources of repayment will significantly strengthen financial and tax discipline both in the center and on the ground. Such measures will significantly improve Ukraine's international image and simplify its entry into the international community. Conclusions. The proposed guidelines for digital rating of tax indicators of enterprises will improve the regulatory framework for determining the rating of the enterprise to obtain a scale of reliability of the enterprise as a business entity, eliminate significant problems of corruption in the fiscal system, improve financial and tax discipline primarily in central authorities, and secondly in industries, oblasts, cities, etc. These recommendations make it possible to establish opportunities for honest enterprises to obtain various privileges from the state and to avoid unreasonable and often ineffective inspections by tax and other authorities.

The Struggle for Imperial Preferential Trade, 1887-1917, with Particular Reference to New Zealand

<p>The years 1887-1917 were years of continuous efforts to reconcile seeming irreconcilables in the economic sphere of relations between Great Britain and those of her self-governing colonies who were rapidly attaining to nationhood: Canada, the Australian and South African colonies, and New Zealand. Simply stated the problem on the one side was how the Mother Country could satisfy the demands of these colonies for some preference to their exports, when to do so would involve her in a fiscal revolution. She stood firmly, with almost religious fervour by the tenets of free trade, and to advocate any radical change would be a policy of political suicide for any party which adopted it as its platform. At the time she was the leader of the world's commerce, a fact that she attributed to the very free trade policy which the colonies would overthrow. From the colonial point of view, the problem was to meet what appeared to them, a growing threat to their own exports by those foreign powers, mainly Germany and America, who through a policy of protection were keeping British products out of their own markets, and who through subsidies and differential rates were able to undersell the colonies on the Home market. These same foreign powers, in spite of colonial protective tariffs, were able to compete with the small local industries, and in many cases could undersell the the produce of the Mother Country in the colonies. The answer which the colonies seized eagerly upon and fought so long and strenuously for, was an imperial preferential trade. Immediately, however, they were faced with the fact that the portion of the Empire most concerned, namely Britain, refused to change her fiscal system for a policy which she considered unnecessary and inimical to her own interests.</p>

The Struggle for Imperial Preferential Trade, 1887-1917, with Particular Reference to New Zealand

<p>The years 1887-1917 were years of continuous efforts to reconcile seeming irreconcilables in the economic sphere of relations between Great Britain and those of her self-governing colonies who were rapidly attaining to nationhood: Canada, the Australian and South African colonies, and New Zealand. Simply stated the problem on the one side was how the Mother Country could satisfy the demands of these colonies for some preference to their exports, when to do so would involve her in a fiscal revolution. She stood firmly, with almost religious fervour by the tenets of free trade, and to advocate any radical change would be a policy of political suicide for any party which adopted it as its platform. At the time she was the leader of the world's commerce, a fact that she attributed to the very free trade policy which the colonies would overthrow. From the colonial point of view, the problem was to meet what appeared to them, a growing threat to their own exports by those foreign powers, mainly Germany and America, who through a policy of protection were keeping British products out of their own markets, and who through subsidies and differential rates were able to undersell the colonies on the Home market. These same foreign powers, in spite of colonial protective tariffs, were able to compete with the small local industries, and in many cases could undersell the the produce of the Mother Country in the colonies. The answer which the colonies seized eagerly upon and fought so long and strenuously for, was an imperial preferential trade. Immediately, however, they were faced with the fact that the portion of the Empire most concerned, namely Britain, refused to change her fiscal system for a policy which she considered unnecessary and inimical to her own interests.</p>

CURRENT TREND IN THE FISCAL DEFICIT OF THE UNION BUDGET IN INDIA

The present study analyze the fiscal deficit as an instrument to measure the amount of government borrowing to require the financial position and their budget shortfall. This study traces the major current changes in Indian fiscal system during the period 2019-20, though the unions Government adopt the fiscal rule for reduction the financial crisis during the epidemic period of Covid-19. However the current study also traces the percentage of GDP decrease because of the problem of lock-down during the Covid-19. The paper concludes with discussion on the composition of union government receipts and expenditure position in present scenario and indicated the situation of fiscal and revenue deficit of the government budget.

Regulation of nature management with the application of fiscal methods

The purpose of the article is to develop and apply the concepts and mechanism of fiscalization to the processes of managing the collection of payments from business entities to the budget for environmental offenses. The research methodology - application of the resource approach to the defini- tion of concepts, abstract-logical, system-structural and comparative analysis, ranking. The scientific novelty. The mechanism of fiscal management of nature users for their environmental pollution is revealed; the peculiarities of the calculation of the ecological tax, the distribution of the amounts of the current tax between the state and local budgets are indicated; applied innovations are substantiated taking into account the factor of ownership of natural resources. Conclusions. The need for environmental fiscalization is due to the environmental situation in the country, the fiscal system, energy and industrial security, pricing policy, business activity, the country’s international obligations and other factors. Key words: management, fiscal, in the use of nature, property, people, waste, pollution, rates, natural objects.

A Hybrid Petroleum Fiscal System for Investment in the Exploration and Production E&P of Hydrocarbon

Globally, there are two types of petroleum fiscal system; the concessionary and the contractual petroleum fiscal system. The main differences between the two types of petroleum fiscal system is the ownership of the resources and some distinct fiscal terms. The contractual petroleum fiscal system specifies a cost recovery option and profit oil split unlike the concessionary petroleum fiscal system that allows the contractor to recoup his capital before payment of tax. This tends to increase the risk associated with the host government revenue as investment in the production of hydrocarbon is filled with uncertainties. There is a need to redesign the concessionary petroleum fiscal to enable it reduce the risk associated with the host government revenue by making the host government to earn revenue early from petroleum investment. This research therefore evaluated a hybrid petroleum fiscal system for investment in the exploration and production of hydrocarbon. The concessionary petroleum fiscal system was adjusted to include a cost recovery option. Petroleum economic model for investment in a typical onshore oil field was built using spreadsheet modelling technique with the fiscal terms in the hybrid petroleum fiscal system embedded in it. The cost recovery option and oil price in the model were varied between 0-100% and $20-$100 per barrel. The NCF, IRR and payout period of the investment were determined. It was observed that the lower the cost recovery option, the higher the host government revenue. From the profitability analysis of the investment in the hybrid petroleum fiscal system, it was observed that when the price of oil was $100/bbl, the NCF of the host government was $9146 and $8426.3 for 0% and 80% cost recovery option. The lower the cost recovery option, the higher the payout period and the lower the internal rate of return. Though lower cost recovery increased the host government revenue more but it may make the hybrid petroleum fiscal system unattractive for investment in periods of low oil price. Hence a higher cost recovery option was recommended for the use of this type of petroleum fiscal system.

Fiscalitat municipal sobre productes alimentaris a Castelló d’Empúries (1350–1365)

During the 14th century, Catalan towns, together with those in the rest of the Crown of Aragon, issued enormous quantities of long-term debt, which took the form of sales of perpetual and lifelong annuities ("censals morts" and "violaris"), in order to finance their numerous economic needs of different types. As a consequence of the growing issuing of debt instruments, town governments had to build a fiscal system of increasing complexity to satisfy the rising annual interests. The system was based on a set of indirect taxes over commerce and the consumption of certain food and manufactured products. Castelló d’Empúries was not an exception and the town engaged and consolidated long-term debt between approximately 1350 and 1375. This article analyses the evolution of the taxes on food that the town government of Castelló was administering during this period (yield, tariffs and exempt groups), applied on wine and grapes, meat, cereal milling, bread, oil, fish and pigs. On these grounds, the article assesses whether the increasing town debt resulted in a growing tax pressure on its inhabitants, and offers an overview of the main food types that were commercialised in Castelló during the 14th century.

Application of the Delayed Royalty Framework for Onshore Petroleum Investment in Nigeria

Nigeria uses the concessionary petroleum fiscal system for onshore investment in the country where the ownership of the hydrocarbon resources belongs to the contractor's. The government then gets her revenue through payment of royalties and taxes. A fixed royalty rate of 20% is specified for onshore petroleum investment in the country. This kind of royalty payment system is regressive in nature and affects the sustainability of E&P firms during period of low oil price. This research considered the incorporation of a delayed royalty framework into the concessionary petroleum fiscal system in Nigeria. Two economic models were built to evaluate upstream petroleum investment in Nigeria onshore environment using the spreadsheet modeling technique. The delayed royalty framework was incorporated into one of the model. The delay in royalty payment was made as a function of the time it takes the contractor to recoup his capital before payment of royalty and taxes. Oil price was varied in the model between $30-$90/bbl to see the impact of the delay in royalty payment on the sustainability of the investment under the delayed royalty framework. It was observed that the delayed royalty framework made the contractor to recoup his capital early during the life of the investment. It also increased the contractor's revenue which will help to increase the sustainability of the investment during period of low oil price.

Debatable Aspects of Progressive Taxation of Individual Incomes in Russia

The present research deals with debatable aspects connected with introduction of progressive taxation of individual incomes in this country. In spite of the fact that in 2021 an attempt was made to introduce the progressive scale on income tax, different political parties put forward their own approaches substantiating them by demonstrating their regulating impact on economy. It is necessary to realize that progression in taxation involves not only the scale alteration. Today the possibility of progressive tax introduction is being discussed on the background of cutting their number in the fiscal system. In fact such innovations, despite their advantages, could have irrevocable consequences. Among key threats we can mention an increase in the shadow share of economy; administration challenges connected with labour intensity and extra costs; growing capital outflow abroad; general drop in economy competitiveness due to declining entrepreneurial urge towards profit maximization, etc. The article systematizes approaches presented by political parties for discussion and structures the author's approach to introduction of progressive rates based on generalized experience of best practices, adapted to Russian reality. The results of practical testing of authors' vision illustrated by income tax by different rates gives an opportunity to compare the tax burden, which can be estimated in order to enlarge citizens' groups with different levels of incomes.

Revenue Allocation in Nigeria: Issues, Challenges and Prospects

Revenue allocation among the three tiers of government in Nigeria has been a subject of hot debate because of the political nature of the exercise. Several attempts made by various administrations to evolve an acceptable and all embracing revenue allocation formulae for the country are yet to create the desired rapprochement among contentious groups. This paper examined the issue field of revenue allocation and identified major challenges which are embedded in it as well as outlining prospects for it in Nigeria. It employed both descriptive and historical methods to comprehend the subject under discussion. It is the position of the paper that in a bid to resolve the controversial issues surrounding the contentious revenue allocation in Nigeria, a high level of fiscal decentralization is required to replace the unfair revenue sharing formula currently on operation. Besides recommending a substantial review of the fiscal system, the paper concluded that revenue formulae for revenue sharing in Nigeria should be guided by national interest which should super cede individual or primordial interest and sentiments.