Penyesuaian Lapisan dan Tarif PPh Orang Pribadi: Agresif atau Progresif?

In 2022, Indonesia would apply changes in tax brackets and rates for personal income tax. This adjustment is based on the Article 17 Paragraph 1 Tax Harmonization Law Number 7 of 2021. The government tries to accommodate the needs of the community through formulating process of this regulation. In particular, it provides convenience to the lower-middle income community and encourages an even distribution of income. People belonging to the high wealth income will be subject to the highest tariffs that have just been set through this law. Through a qualitative descriptive method in which data collection is carried out by taking from literature review; law, articles, books, and website, the author tries to analyze changes in brackets and rates of personal income tax. This study presents illustrations of the calculation to explain the difference in the amount of income tax payable before and after the implementation of the Tax Harmonization Law. In addition, the analysis of the principles of equity and democracy on the adjustment of layers and tax rates is elaborated in this paper. The results obtained explain that with the application of the new tax rate, taxpayers get a tax burden relief because the tax expense is lower due to the broadening of income range. However, wealthy taxpayers will pay more taxes because of the higher tax rates. This condition proves that the new tax rate supports vertical fairness in the taxation system. In addition, the implementation of regulations related to tax rates adjustment provides evidence that the implementation of democracy has been implemented. The adjustment of tax brackets and rates has a positive impact on the community and the government so that the allocation of tax revenues can run optimally to support the welfare of the community.

A Multilevel Study of Socio-economic Inequalities in Self-reported Oral and General Health in South-east Norway

This study assesses the association between socioeconomic determinants and self-reported health using data from a regional Norwegian health survey. A total of 9,068 participants 25+ were included. Survey data were linked to registry data on education and personal income. Self-reported oral health and general health were separately assessed and categorized into ‘good’ and ‘poor’. The exposures were educational level, personal income, and economic security. Prevalence ratios (PRs) were computed to assess the associations between socioeconomic determinants and self-reported health using multilevel Poisson regression. Participants with low education or income had poorer oral and general health than those with more education or higher income. Comparing the highest education level versus the lowest, adjusted PRs for poor oral and general health were 1.44 (95%CI 1.26-1.65) and 1.53 (95%CI 1.35-1.74). Correspondingly, with the highest income quintile versus the lowest, estimates were 1.64 (95%CI 1.39-1.94) and 2.34 (95%CI 1.97-2.79) for oral and general health. Lack of economic security was also significantly associated with poor self-reported oral and general health. Positive linear trends between levels of education and income were documented for both outcomes (P-linear trends <0.001), including a pattern of socioeconomic gradients, both for oral and general health.

TAXATION OF INDIVIDUALS: THEORY AND PRACTICE

The monograph examines the scientific and theoretical views on improving the practice of taxation of individuals and the sources of taxation of the personal income. The problems that exist in the practice of taxation of individuals and the ways to solve them have been mentioned. The monograph is intended for professors, specialists and researchers, senior researchers, trainees in economics, graduate students and students interested in the study of problems of taxation and taxation, including the taxation of individuals.

Taxpayer Bunching Evidence: Responsiveness at Kink Points of the Honduran Personal Income Tax

This paper studies the response of taxpayers to changes in the marginal tax rate or kinks, estimated through compensated elasticities by applying the bunching methodology to Honduran administrative data on Personal Income Tax (PIT) from the period 2011 – 2018. Due to missing data issues at the first kink, estimates are only generated for the other two kinks. The results show a low response, reflected by a compensated elasticity around 0.09. Higher response on wage earners was found at the second kink. Further analysis is done by type of taxpayer, income source, third-party reporting, gender, and age.

The relationship between economics and aesthetics

We live in financially challenging times, and the aesthetic practitioner's ability to sell products is directly related to how confident their patients feel they can afford a luxury purchase. In this article, Jason Ratcliffe details how economic factors impact businesses, personal income and patients

Financial Impacts of the COVID-19 Pandemic on U.S. Older Adults: Assessing Pandemic-induced Job and Income Loss

The COVID-19 pandemic has greatly impacted the economic security of millions of older adults. Job loss and reductions in personal income were significant in 2020 stemming from pandemic-induced shutdowns that temporarily closed large swaths of the U.S. economy. Yet, the specific financial impacts of the pandemic on older adults, including family care partners, are not well understood. To understand the COVID-19 pandemic’s effects on the health and financial well-being of older adults, we gathered data from the Research via Internet of Technology and Experience (RITE) Study, a longitudinal survey panel providing data from thousands of participants of various ages and backgrounds in the U.S. on their use of healthcare and technology (N=1,365). We measured by population strata including age, sex, and education and other characteristics including caregiver status. Adults between 20-40 years of age experienced the highest rate of job loss and reduction in wages (33%) as a result of the pandemic, while adults aged &gt;70 years experienced the lowest rate (12.5%). However, adults aged 50-60 and 60-70 also experienced relatively high levels of job loss at (28.4% and 25.7%, respectively). Behavior changes and disruptions to typical routines to avoid COVID-19 infections may have contributed to job and personal income loss amongst Individuals aged 50-60 and 60-70. However, these findings suggest potentially high levels of economic insecurity amongst individuals who continue to work into late-life. These results may help policymakers understand how to better tailor interventions and policies to mitigate economic insecurity, particularly for populations disproportionately impacted by the pandemic.

Personal income taxation in the human capital development incentive

The article substantiates the opportunities for stimulating the human capital development through personal income taxation in Ukraine. The need for constant investments in the human capital for improvement of its quality has been substantiated by conceptual provisions of the human capital theory and empiric researches of its influence on economic growth. The completed analysis of theoretical concepts and practical use of income taxes worldwide allows substantiating the fact that concept of a flat income taxation can be successfully used to promote the human capital development. However, the analysis of income tax systems abroad shows that separate taxation tools for personal income, including tax allowances for education, are more efficient. This is especially typical for developing countries. In estimating investments in the human capital in Ukraine, it is found out that the share of working population with high skills increases against the decreasing actual expenses for higher education. In a meantime, foreign countries demonstrate the other economically correct dependence: the qualification level increases as real expenses to gain it increase. The analysis of real national expenses in Ukraine for one student and in the country in general also demonstrate their decrease. This proves the presence of problems in Ukraine that relate to financing the system of higher education. The methods of economic and mathematical simulation by building and parametrizing a number of functions allowed to substantiate the influence of investments in human education on the increase of the highly skilled labor, which in turn leads to the GDP growth. A scientific and methodical approach has been developed, based on the algorithm that takes into account the influence of the highly skilled labor factor (considering expenses for gaining the qualification) on the GDP level. This approach allows estimating the effectiveness of expenses on tax allowances and expediency of their use to promote investments in higher education in Ukraine. The economic consequences of the human capital development incentive by introducing tax allowances in Ukraine have been estimated. It is established that if the state increases expenses for higher education by granting allowances, the share of working population with high skills increases, thereby causing the GDP to grow by means of increasing employment level. However, it has been found out that the expenses for tax allowances are reimbursed only in the case where investments in fixed assets increase and amount no less than 25 % of the GDP.