This paper estimates the dynamic effects of changes in taxes in the United States. We distinguish between changes in personal and corporate income taxes and develop a new narrative account of federal ...tax liability changes in these two tax components. We develop an estimator which uses narratively identified tax changes as proxies for structural tax shocks and apply it to quarterly post-WWII data. We find that short run output effects of tax shocks are large and that it is important to distinguish between different types of taxes when considering their impact on the labor market and on expenditure components.
Personal income tax is a tax imposed on personal tax subjects on income received or earned in one tax year and has been regulated in Law no. 36 of 2008 concerning Income Tax. In this study using a ...qualitative descriptive method, namely collecting available data, compiling it, studying it, and then conducting further analysis regarding the calculation, deposit and reporting of Personal Income Tax on personal taxpayers registered at The Pratama Bandung Tegalega Tax Service Office. Based on the results of the analysis conducted, it can be concluded that the personal taxpayers registered at the Pratama Bandung Tegalega Tax Service Office as a whole have an average income of more than one source, where the tax calculation results in underpaid taxes. Underpaid tax deposit using electronic Deposit Letter with e-Billing system.
This study aims to obtain results on the legal consequences of separation of assets in tax calculations and the principle of fairness for tax calculations in accordance with the provisions of the ...Director General of Taxes. The research method used is normative juridical by using testing techniques through a statutory approach as well as applicable legal theories, concepts and principles compared to the implementation in the field, especially about the method of calculating the separation of assets in accordance with the regulations of the Director General of Taxes and the calculation should be if in accordance with the marriage agreement for the separation of property. The research provides results if using the calculation method in accordance with tax regulations, the couple is still owed tax and / or greater even though each of them has been deducted from income tax and should be nil. And the principle of legal justice that should be obtained by the taxpayer of separation of property on the mechanism for determining taxable income by tax regulations is not to occur because with the deed of marriage agreement for separation of property made before a Notary which is an authentic deed, it should be from the beginning that from the beginning everything is separate including with his property, but for taxes it is not recognized the deed because the income is combined first.
The regional geopolitical tensions, the changes in the regional markets of energy products and food that led to the increase of prices and the stagnation of economic growth at the level of the ...European Union highlighting the need to review the management of public policies. Thus, under the pressure of growing public and private debts, under the pressure of budget deficits, the fiscal policies of the EU27 states often have the unpleasant task of making substantial reforms of the taxation systems. Therefore, the article proposes the construction of a series of scenarios regarding the possibility of returning to the progressive taxation of the payroll tax in Romania. The article tries to highlight the advantages and where benefits can intervene for the structure of the national budget starting from the analysis of a series of scenarios regarding the progressive taxation of salaries and proposals are outlined in this regard.
The child tax credit is a tax relief under the Polish Personal Income Tax system. The purpose of this paper is to present this tax preference. Authors try to reach this objective by a detailed ...analysis of relevant legal provisions and jurisprudence. The main thesis of the article is that the child tax credit could have a positive impact on the birth rate in Poland provided that certain changes are introduced. In our conclusions we identify four shortcomings of the child tax credit: 1) the child tax credit is available only for taxpayers who pay PIT on general terms; 2) the child tax credit for only one child depends on the income criterion which has not been indexed since 2013; 3) the value of the child tax credit is negligible and its amount has not changed since 2015; 4) taxpayers who care for unrelated, disabled and adult persons do not have the right to the child tax credit because of the tax authorities’ narrow understanding of the maintenance obligation. Authors formulate proposals for solutions of the said shortcomings. An analysis of legal acts, relevant literature and court decisions is the primary research method employed in this paper.
Abstract
I estimate the average federal individual income tax rate paid by America’s 400 wealthiest families, using a relatively comprehensive estimate of their Haig–Simons income: their change in ...wealth, plus US individual taxes. I do so using publicly available statistics from the IRS Statistics of Income Division, the Survey of Consumer Finances, and Forbes magazine from 1992 to 2020. This paper’s baseline analysis uses all years of data and systematically varies start and end years. The baseline estimates of the average federal individual income tax rate on the wealthiest 400 families are 9.6 per cent in nominal terms and 12.0 per cent in real (inflation-adjusted) terms. Sensitivity analyses yield nominal estimates in the 6.7–14.6 per cent range and real estimates in the 8.4–17.9 per cent range. These estimates can be combined with effective corporate income tax rates to estimate all-in effective income tax rates on the wealthiest.
Trickle-down revisited Risch, Max
Oxford review of economic policy,
08/2023, Letnik:
39, Številka:
3
Journal Article
Recenzirano
In this paper I discuss what can be learned about ‘trickle-down’ ideas from recent empirical evidence on tax incidence, or the effect of tax policies on the distribution of welfare. I underscore ...three lessons. First, recent research suggests that business income taxes affect the earnings of workers, but these effects largely derive from taxing rents and rent-sharing, highlighting the importance of these channels for determining the ultimate incidence. Second, when workers are affected by these taxes, the burden is not borne equally by all workers, but predominantly by those at the top of the earnings distribution. Third, across different tax policies that statutorily affect the rich, the burden is largely borne by the rich, but heterogeneity in responses across tax incentives and taxpayers provides context for incidence analyses. Throughout, I discuss the value of analysing heterogeneous responses, particularly how tax incidence depends on labour markets, product markets, and tax systems.
The aim of the article is a comprehensive analysis of the fiscal efficiency of personal income tax in the revenues of consolidated local budgets of both the regions of Ukraine and the city of Kyiv; ...identification of factors and trends that cause changes in its volume and structure. The article analyzes the tendencies of changes in the receipt of the personal income tax and military fee on the income of individuals to the budgets of different levels, determines the change in their structure; an analysis of the receipt of the personal income tax and military fee on personal income to the local budget is carried out by the components – both in general and in relation to the local budgets of the regions and the city of Kyiv; tendencies of changes in the volume and share of personal income tax paid by tax agents from the taxpayer’s income in the form of wages and financial provision of military personnel in the regional context to local budgets are analyzed; structural changes in personal income tax as a fiscally significant tax in the formation of local budget revenues have been identified. The factors influencing the change in the volume and structure of personal income tax revenues are substantiated, among which the key one is the turbulent environment in Ukraine caused by a full-scale war, relocation, destruction of the material and technical base of business or temporary loss of business activity. This led to job losses, a decrease in wages, migration of the able-bodied population to other countries and, accordingly, affected the amount of personal income tax paid by tax agents from taxpayers’ salaries. The increase in personal income tax revenues in 2022 was due to an increase in the rate of enrollment in local budgets from 60.0% to 64.0% and an increase in personal income tax on financial provision of military personnel. Other components that form the personal income tax are insignificant and occupy less than 10%, while there is no increase, due to the weakening of tax control and the ongoing tax evasion by both taxpayers and tax agents, as well as partial shadowing of business.
Economic activity based on producing goods and services is essential for the development of any society. Individuals can carry out this economic activity in dependent activities (employment) or ...entrepreneurship (self-employment). A third way is the so-called „Švarc-system,” which is not legal in the Czech Republic. It is a situation where persons performing normal activities for the entrepreneur in a dependent relationship are not his employees but formally act as self-employment. There are currently discussions about the legalization of the system among politicians and experts. This article introduces how labor and tax law regulations influence attitudes toward economic activity and development. The research methods to achieve this aim include description, critical analysis, and synthesis. The findings described in this article are that the Švarc-system based on self-employment allows greater freedom for employers and employees and smaller payments to public budgets than forms of dependent activities. A high level of autonomy increases development in various areas and helps social development. The implication falls into practical rather than theoretical fields. Therefore, regulation in this area should be lowered to support further development. This article’s originality is that it reflects on the academic impacts of the legalization of the system from legal and economic points of view. These conclusions should help reflect on the regulation of legislation in this field.
The easing of tax legislation after the outbreak of war was aimed at supporting business and ensuring the functioning of the economy. However, its impact on local budget revenues was ambiguous. Some ...changes to the tax legislation during martial law had a negative impact on local budget revenues, while others had the opposite effect. The purpose of the article is to identify the impact of tax policy on the formation of local budget revenues during the wartime and to assess the prospects for filling local budgets with tax revenues in the short term. The publication characterizes the tax changes introduced after the outbreak of war in terms of taxes that have a direct impact on the formation of local budget revenues – personal income tax, single tax, land payment, tax on real estate other than land, excise tax on fuel, alcohol and tobacco products. The authors analyze the tendency in changes in tax revenues of local budgets by region. It is found that the introduced tax changes have had a negative impact on local budget revenues from property tax (land payment, tax on real estate other than land, transport tax) and from excise tax on fuel. At the same time, the growth of tax revenues from personal income tax, single tax, and excise tax on alcohol and tobacco products in total ensured a 13.5% increase in local budget revenues compared to the previous pre-war year. However, against the background of the overall growth of local budget revenues, there was a decline in tax revenues in the regions, some parts of which remain under russian military occupation (Zaporizhzhia, Kharkiv, Kherson, Donetsk, and Luhansk regions). The authors critically assess and substantiate the prospects for filling local budgets with tax revenues in the short term. In the near future, we can expect an increase in tax revenues of local budgets, given the possible abolition of «tax relaxations» against the background of the successes of the Armed Forces of Ukraine, which positively affect the business expectations of enterprises and intensification of their business activities.
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