Czechs have to hold out for one more month. After June 17, 2022, they will start earning for themselves. Until then, for 167 days, they work only for the state. That makes this year one of the least free since the Liberal Institute has been counting Tax Freedom Day since 2000.
The tax system should not be used to implement social policy objectives. The tax system should be purely a mechanism that collects from citizens and companies, in the least distortionary way, the least amount of money necessary for the functioning of the state, the financing of its obligations and its policies.
When we talk about wages in Slovakia, we refer to gross wage. From an economic point of view, however, it is a fictitious value created by accountants. It represents an arbitrarily set point between the two key values: net wage and labor costs.
Institute of Economic and Social Studies (INESS) introduced the Bureaucracy Index in Slovakia in 2016 aiming to draw the attention to the amount of red tape a small entrepreneur has to comply with on a daily basis.
Taxation is an involuntary payment levied on various entities in order to finance the state budget1. Clearly, the tax burden is heavily influenced by the philosophy of the role of the state in the public life, as well as quantity and quality of public services rendered.
The majority of people around the world complain about taxes they have to pay. However, in the case of Poland, it is not only the size of the tax burden that poses a problem, but also complicated and unclear rules in place.
The current Vice-President of the European Commission Mr. Timmermans openly says that a minimum wage of 60% of the median wage should be paid in the EU. In addition, the European Commission launched consultations with trade unions and employers on EU minimum wage rules in January.
Many labor market regulations were created with large mid-20th century manufacturing plants in mind – which is the spirit of the Polish Labor Code of 1974. However, along with the process of industrial automation as well as the growth of employment in services, the economic reality has changed.
The football business shows well how underestimating a well-performing and efficient player can bring other costs. The player may either simply leave for another team, or, if restricted with a contract – underperform to the level only required by the payment.