tax system

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An approach to the Spanish tax system

An approach to the Spanish tax system

The procedure for calculating the tax is based on the existence of a taxable base and a taxation rate, i.e. a percentage. The taxable base consists of an administrative assessment of the amount. This amount is established by the so- called ‘catastro’, or administrative dependency, which depends on the Department of the Tax Office, and whose main occupation is to draw up and maintain an inventory of all the real estate in Spain, each with its corresponding physical, legal and economic description. The value assigned to each realty is based on the reports and decisions of the ‘catastro’ experts. Therefore, this value is usually an approximation to the market value of the realty, but may differ, and consists of a formal administrative valuation. This value includes, and expresses separately, the value of the land and the value of the constructions or buildings that exist on it. Once the realty is registered in the aforementioned administrative office, it is assigned a reference code, consisting of letters and numbers, and which must be used and recorded when any act or deal with legal consequences is carried out. As can easily be seen, the value and the reference code are assigned by the central state.

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Gender impact assessment of economic policy : municipal budget and tax system

Gender impact assessment of economic policy : municipal budget and tax system

B. Access to resources (financial and material level). Will it lead to the elimination or reduction of inequalities in accessing resources (monetary, health, education, work, housing, information, time and so on)? To make such an assessment, an estimate will be made of how the tax or rate cost (tax burden) or public sector fees are borne between the sexes. The analysis should be made in absolute terms and with regard to revenue, where the available data so permit. That being said, it should be borne in mind that tax payers are often legal persons, with the consequent difficulty of obtaining sex-disaggregated information and the possible impact on gender relations. In the absence of available data on taxpayers and beneficiaries of tax relief, the availability of some contextual data can allow for results to be inferred and estimated:

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TítuloRestructuring the European VAT tax system: advantages and disadvantages of the adoption of a single rate model   a study based on the Portuguese case

TítuloRestructuring the European VAT tax system: advantages and disadvantages of the adoption of a single rate model a study based on the Portuguese case

However, the major drawback pointed out to this model of indirect taxation on consumption is related to the social impact of the measure. Indeed, the tax systems have been called for redistributive role, variable and often postponed role, especially in times of financial crisis. The amendment or repeal of reduced and intermediate VAT rates leads to greater inequality in the burden of tax on lower-income classes, as they spend a proportionately larger slice of their income on essentials goods. Nevertheless, the genesis of the single rate of consumption model overlooks the social problems. VAT is, in a way, unrelated to that phenomenon, because it taxes the manifestations of wealth through the consumption, regardless of the economic capacity of the consumer. The social costs may be compensated with corrective measures from the regressive effects of consumption taxation on the IRS.

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The permanent establishment basic rule concept under the model tax conventions and the colombian tax system: analysis in light of OECD and UN model income tax conventions

The permanent establishment basic rule concept under the model tax conventions and the colombian tax system: analysis in light of OECD and UN model income tax conventions

However, the last two centuries have brought, through the phenomenon called “globalization”, a significant development in the approach of economic relations between countries, breaking trade gaps and creating the same market. Nonetheless, since the economic activities of companies are increasingly international which has led to growth of multinational enterprises (MNE) for example, taxes have become a barrier that has prevented further development for this purpose, because countries, by applying the criteria mentioned above, could tax twice a person over the same

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Foreign experience in the individuals tax control

Foreign experience in the individuals tax control

considered as a result of the analysis of the previous three countries. Of course, in each country there are certain features that can be introduced into the tax control system of our country to further increase efficiency. However, one should consider the mentality of our country and the fact that not all the features can be taken from us. It is also worth noting that the tax control of most countries has similar features due to globalization and the emergence of new international projects, according to which member states should have a similar system of taxation and control. Therefore, the foreign experience of organizing tax control is relevant only in some specific areas of such control, and only considering the features of our own tax system.

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Social Dimensions of Tax Evasion: Trust and Tax Morale in Contemporary Spain

Social Dimensions of Tax Evasion: Trust and Tax Morale in Contemporary Spain

nity and motivation for fi scal compliance on behalf of the taxpayer in Spain is an interest- ing consideration. One possible explanation for regional variation in tax morale may lie in the existence of regional fi scal cultures, re- fl ecting the lack of legitimacy of the tax sys- tem, reinforced by social mechanisms. The taxpayer’s fi scal behavior may be adversely affected by certain values that are character- istic of a specifi c region. For example, if re- gional nationalism promotes delegitimization of the central government, it may be expect- ed that this factor would reduce tax morale (Martínez-Vázquez and Torgler, 2009). An- other possible explanation relates the citi- zen’s tax morale to certain economic charac- teristics of the region, such as productive structure or size of autonomous administra- tion debt. These potential implications should be examined further in future research stud- ies. It may be possible to create, for example, a fi scal culture index consisting of taxpayer perception of tax system legitimacy, to be subsequently compared with related data on regional political and economic contexts.

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The role of the sub national public sector in the stabilization function: Evidence from the Colombian case for the period 1990/2001

The role of the sub national public sector in the stabilization function: Evidence from the Colombian case for the period 1990/2001

During the application of the decentraliza- tion reforms in Colombia both national and local fiscal deficits increased significantly. An evaluation of the impact of these deficits on regional con- sumption found that they had different stimulatory effects upon consumption, suggesting, effectively, that decentralization had fiscal effects. In particu- lar, it was found that while regional deficits had a positive impact on regional consumption, the part on the national deficit that regions might expect to finance in the future had a negative impact on this variable, suggesting that it could crowd out investment rather than stimulate aggregated de- mand. These results support the findings obtained when the role of the national fiscal stabilizers on attenuating regional adverse shocks (found to be very low) was analyzed. The minor impact of national transfers on regional stabilization can be, in part, explained by the intergovernmental transfers system established by Law 60 of 1993, which linked the size of the pool of transfers to the total collection of national taxes. Thus, regional income is affected not only by the regional cycle but also by the overall national cycle. A region is also responsible for the transfers that other regions receive. Consequently, one region’s volatility affects the stabilization benefits on other regions. Thus, for the national government to be able to generate interregional insurance, any decrease in a region’s income should be offset by another region’s tax revenue. Otherwise, as Fatás (1998) maintains “all the risk would be aggregate risk, which cannot be assured by interregional transfers”. This phenome- non was aggravated by the significant increase in the national fiscal deficit 9 , which was paid by all

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TítuloAn optimal quantity tax path in a dynamic setting

TítuloAn optimal quantity tax path in a dynamic setting

The efficiency loss as a result of a tax, generally mentioned in the economics literature is the dead weight loss as a result of comparisons of the pre and post tax market equilibriums. However, the dynamic picture shows that there is some efficiency loss on the dynamic adjustment path to the new equilibrium as well after the tax. After the imposition of the tax, the price jumps to a price equal to the previous equilibrium price plus the tax. The price then adjusts over time to bring the new equilibrium price which is higher than the previous equilibrium price and less than the price at the time the tax was imposed depending on the elasticity of demand and supply schedules. A pile up of inventory indicates a higher supply than demand, and a depletion of inventory occurs when demand is higher than the supply in a given time period. When the demand and supply are the same, there is no efficiency loss. If the demand and supply are different, the output and/ or consumption is being lost at that point in time. Therefore if we sum up the inventory change at all points in time, we get the total efficiency loss, which is as follows:

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Government-to-business: the Brazilian Public Digital Bookkeeping System (Sped) and the eSocial Project

Government-to-business: the Brazilian Public Digital Bookkeeping System (Sped) and the eSocial Project

Abstract. This paper presents some initiatives of government-to-business in Brazil: The Sped and its project called eSocial. The Sped Fiscal is the Brazilian Public Digital Bookkeeping System and it can be considered an innovation in the relation between the government and the corporate taxpayers, especially in the informatization area. In this research, we explain how it works and its regulatory legislation. After that, we show some benefits of this system. The eSocial Project is the Digital Bookkeeping System of Tax, Social Security and Labor Obligations which is integrated to the Sped Fiscal system. So we make comments about both projects in order to present these new features which have been in development in Brazil.

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Notes to the Annual Accounts for 2015

Notes to the Annual Accounts for 2015

In general, all income and expenses as well as the interest they generate are recorded when they accrue, i.e., in the period in which the income or expense is earned or incurred rather than the period in which the cash is actually received or disbursed. Specifically, the income is calculated at the fair value of the consideration receivable and represents the amount receivable for the goods delivered and the services rendered after deducting rebates and tax. The income under “Sales and services rendered” relate entirely to the instalments received from the cities that form part of the Association.

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Compulsory online tax returns

Compulsory online tax returns

However, it is necessary to consider the repercussions the taxpayers would face if they were unable to submit their self- assessment within the four days in question. In such cases, with payment having already been made, we feel that they could not be deemed to have failed to pay the tax, so it would not be fitting to penalise them for the infringement defined in Article 191 of the LGT, nor to claim interest for late payment from them by way of compensation. Nonetheless, failure to submit a self-assessment within the periods established by tax regulations constitutes a minor infringement, as established in Article 198 of the LGT. Clearing the debt does not result in exemption from the duty to submit the return. In that regard, it must be borne in mind that Article 179.2 of the LGT identifies various circumstances that result in exoneration from liability for tax infringements. Thus, if any of those circumstances were applicable to taxpayers, the tax authorities could not penalise them for a minor infringement. If, for example, the computer on which the taxpayers had installed their electronic certificate were to be destroyed, they could be exempt from liability on the grounds of force majeure, as envisaged by Point b) of the aforementioned precept. Alternatively, Point d) thereof could apply if the taxpayers have acted with due diligence. The fourth step to be taken by taxpayers submitting a return online consists of generating their electronic signature so

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Is [Rural] Property Tax Relevant?

Is [Rural] Property Tax Relevant?

Even thought these were undesirable perspectives of property tax, other authors were aware of its need in the construction of a modern society. From the political economy point of view, William Petty, Adam Smith, Francois Quesnay, David Ricardo and John Stuart Mill addressed this debate. They supported the benefit doctrine according to which the relation between the citizen and the state is a sort of exchange relationship. In that sense, private agents would contribute to the state as much as they perceived future benefits from their property rights, were secured by the state. In that sense, property is linked to state contribution but according to the interest citizens have in the public peace. That makes the property tax an individual contribution to the extent that, agents expect something from the state.

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Standard and harmonize : Tax arbitrage

Standard and harmonize : Tax arbitrage

The results of the sale of the portfolio are calculated as the difference between the price obtained from the sale and the book value. The latter is determined using the average weighted value for homogeneous groups. If the shares represent a controlling interest holding, the result is deemed extraordinary when accounted for. In the remainder of cases they are considered financial, but both are taxed in the same manner in the year of the operation. Spanish tax law includes the possibility of correcting the income generated from the effect of currency depreciation, but it is not applicable to the sale of these assets.

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A microsimulation model for the personal income tax

A microsimulation model for the personal income tax

After calculating the tax for each income source, different reductions are applied (joint declaration reduction and contributions to pension plans are the most common even there are more reductions), following these deductions the information about personal and familiar minimum can be found, this minimum reduces the amount of money that has to be paid for this tax and depends on the characteristics of the household (some examples that apply to this minimum are the fact of living with descendants under 25 that do not present IRPF in that year or living with ascendants with an income under a certain level and who do not present IRPF in that year).

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Essays on Tax Administration

Essays on Tax Administration

We test the yardstick competition hypothesis by employing a GMM-IV approach and the standard neighbours’ matrix for the estimation of equation (11). As Bordignon et al. suggest: “the crucial point about testing yardstick competition theory is not about local tax setting behaviour as such, but in tax setting as linked to the incentives and constraints that are generated by the local electoral system” (Bordignon et al. 2004, p. 332). As for the identification strategy, Besley & Case’s (1995) seminal paper proposes distinguishing local governments according to their eligibility to be re- elected. In the presence of term limits, governments that are not eligible for re-election are not expected to react to their neighbours’ policy changes. Unfortunately, this strategy is not available to us, since in Spain there are no term limits. However, other elements taken into account elsewhere in the literature have included the impact of the election year and the electoral margin (see e.g. Solé-Ollé, 2003; Bartolini & Santolini, 2012, or Esteller- Moré & Rizzo, 2014). In the presence of elections, the government’s reaction to its neighbours’ policy is expected to be greater; by contrast, an incumbent party with a large electoral margin is expected to show little reaction to its neighbours’ policy. We use these two elements of the electoral system to test the yardstick competition hypothesis. As such, we interact the spatial lag alternatively with electoral dummies and the electoral margin (defined as the number of seats in the parliament obtained by the party/coalition in government minus the seats necessary to obtain the majority divided by the total seats in the parliament), respectively. The results of these analyses are reported in Table 5.

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Tax debt and ways of reducing it

Tax debt and ways of reducing it

From the point of view of tax administration, it is necessary to clarify the definition of settled and unregulated tax arrears. Regulated tax debt is a debt with which the tax authority may conduct administrative measures (settlement methods), incl. change in the deadlines for the payment of taxes and other obligations (deferment, installment plan, investment tax credit), procedures of indisputable and compulsory collection, up to and including the initiation of a bankruptcy procedure and write - off. Unresolved tax arrears are arrears in respect of which indisputable penalties have not yet been applied, as well as uncollectible tax arrears, i.e. one that cannot be recovered due to certain circumstances and arrears. The proposed definitions of “settled, unresolved” debt should be consolidated legislatively, it will help to increase the tax discipline of tax payers. Within the framework of the specifics of settled debt, it would be possible to suggest one more group of tax debts: tax debts, for which reconciliation of calculations was carried out and tax debts for which this reconciliation was not performed. In this regard, it is advisable to recommend adjusting the reconciliation of calculations with the budget at the level of the Tax Code of the Russian Federation, and not by-laws.

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El Tax Lease

El Tax Lease

A  muchos  nos  sorprenderá  que  entre  los  inversores  formando  parte  de  los  grupos  AIE  estén:   Inditex,  Mango,  Ferrovial  o  El  Corte  Inglés.  En  el  caso  de  la  primera,  la  multinacional  controlada   por   Amancio   Ortega   llegó   a   participar   en   una   decena   de   AIE   domiciliadas   en   el   archipiélago   canario,  ahora  ya  disueltas  (Naviera  Berlín,  Naviera  Covadonga,  Naviera  del  Guadiana  y  Naviera   Venus),  de  las  que  nunca  llegó  a  poseer  más  de  un  50%.  También  empresas  extranjeras  como   Ikea  tomaron  parte  en  operaciones  de   Tax  Lease  atraídas  por  la  rentabilidad  que  ofrecían  bajo   la  cobertura  legal  de  la  Dirección  General  de  Tributos  del  Ministerio  de  Hacienda.    

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Tax Lease 8

Tax Lease 8

Y ahora antes de que saquemos los cuchillos y las pistolas con el tema del tax lease y comencemos a criticar e insultar a estas empresas que se favorecen fiscalmente de estos tax lease, debemos saber que la normativa fiscal en Europa para la construcción de barcos tiene unas ventajas similares y se suelen dar bonificaciones directas en el impuesto de sociedades a los armadores de buques.

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Determinants of tax revenue in OECD countries over the period 2001-2011

Determinants of tax revenue in OECD countries over the period 2001-2011

The coefficient of the lagged dependent variable remains positive and statistically significant in the two subsamples, what it is worth noting is that the coefficient is smaller in the middle income countries (0.562) than in the high income countries (0.936), in average. In this respect, variations in the tax revenue in a previous pe- riod, are translated almost in a proportion of one to one in the current period, in high income countries; whereas the effect from one period to another, in middle income countries, is translated in a proportion slightly higher than 50 per cent. This result illustrates that tax revenue in high income countries depends mainly on its lagged values, while the tax collection level in middle income countries depends substantially on changes in the determinant variables, because the effect of past tax revenue decays over time. In other words, the adjustment coefficient (1- γ) in mi- ddle income countries is larger and therefore, these countries are more vulnerable to the effect of the determinant variables, since their tax revenue as a proportion of GDP adjusts faster to the long term level, or it changes faster, compared to those countries with higher income level.

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Tax+

Tax+

reclutamiento de personas para work and travel están ofreciendo este servicio dentro del mismo paquete de viaje, aunque no es obligación del estudiante realizar el proceso con el apoyo de la agencia. Las empresas mencionadas anteriormente tienen como objetivo social el reembolso de impuestos pagados por extranjeros que han trabajado temporalmente en Estados Unidos y otros países. En el país no existe una empresa de origen Colombiano, pero las empresas mencionadas anteriormente tienen alianzas estratégicas con diferentes agencias de work and travel y algunas tienen un representante directo, como es el caso de RT TAX.

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