On December 7, 2017, the Ukrainian Parliament had the day of Budget-2018. During one day, the Verkhovna Rada amended the Budget Code and Tax Code, as well as adopted the State Budget Law for 2018. The decisions were taken in a very non-transparent way with changes approved from the voice.
With several policy proposals on introducing a progressive taxation model put on the table, the upcoming parliamentary session in Lithuania is sure to become a heavily debated one. In fact, every tenth taxpayer is threatened with higher tax burden as personal income tax might increase from a flat 15%up to 20%.
Croatia is currently 61% economically free. There is no country with more than 90%. Therefore, Croatia’s competitive gap is much more than 39% deficit in economic freedom. Croatia’s challenge is to compete with much better countries of Central Eastern Europe.
In 2007-2008, a single rate for income and profit tax of 10% (or “flat rate”) was introduced in Bulgaria. It is now apparent that this was only the last stage of a long-lasting tax reform which has been going on without interruption under numerous and fundamentally different governments.
The system of concealing the actual amount of employee contributions (employers’ contributions) and the transfer of the obligation to tax returns and the calculation of contributions and taxes to the employer, made the employees fiscally illiterate.
Will the United Kingdom, now on the verge of a significant systemic shift, really be better off without the EU? Richard Teather, Senior Lecturer in Taxation at Bournemouth University and a strong supporter of Brexit, comments on the recent phenomena in a gripping interview for Olga Łabendowicz and the Liberté! magazine.
On June 20, 2017, the Lithuanian Free Market Institute organizes an international conference titled “Paternalist Policies and Food Regulation: Objectives and Consequences”, aimed at initiating a series of public debates on the growing trends of state paternalism.
Lithuanians seem to have gotten used to governmental promises just as to the changing seasons. The only difference is that spring is bound to come eventually, while the government fails to deliver.
Possibility to set statutory VAT rate below 15% for a wider set of different goods and services may lead to lower effective VAT rates in various Member States. Therefore, countries, which have fewer exemptions and/or reduced rates, may maintain the same principles of taxation but lower their standard VAT rate.
If a person works, strives and believes in being primarily responsible for his/her own destiny and not someone else, if that individual plans own finances, saves up and at least tries to escape from the “from pay to pay” circle – such a person is considered as the middle class or has all the potential to become it.