taxes

Taxes come in different forms and shapes. Regardless, they all have certain consequences. The discussion about what is the optimal size of the state, and which public expenditures are justified and beneficial never tires.

With a sample of 4,000 Slovak students, the Economics Olympiad revealed the most serious weaknesses in economic education of young people. Memorizing is believed to be a long-term problem, but knowledge useful only as a part of quiz shows remains a crucial element of the Slovak education system.

The European Commission has presented a new proposal on the System of Own Resources of the European Union. If agreed on, the provisions of this proposal shall apply from January 1, 2021 - except the provisions regarding the CCCTB.

The Respect for Taxpayers Day becomes an official commemorative day in Lithuania to be celebrated on May 11. A recently adopted law is a result of a petition submitted by the Lithuanian Free Market Institute.

In October 2016, IME together with FNF launched \"My taxes\" – a specialized online personal tax calculator, which can be accessed at the kolkodavam.bg website. The name “kolkodavam.bg” translates to “How much do I give?”. We are happy to announce that the website is already available in English.

Why do conditions for doing business and entrepreneurship keep deteriorating when politicians are trying to convince us on a daily basis that they want to improve them instead? No deeds follow their words. Although the government pretends to listen to our concerns, they do not usually take them into account.

This year the Tax Freedom Day comes five days later; regrettably, government spending surpasses economic growth and Lithuanian taxpayers should work more and more just to pay taxes. To compare, Estonia celebrated on May 7, the United States on April 23, and Australia on April 13.

Public tenders are beneficial to the taxpayers who actually pay for them. According to the Public Procurement Office of Lithuania, in 2015, over 300 million euro were spent without a competitive procurement procedure. This means that taxpayers have most likely overpaid in the majority of cases.

The Slovak Ministry of Finance sent the entrepreneurs a special package this week. It contains as many as seven (!) new tax law amendments. The extraordinary content of the tax package is the reason for red alert among entrepreneurs. This attitude is the result of previous negative experiences.

Redistribution may be defined as the transfer of tax revenue to finance the state apparatus and maintain the government. One of the ways to calculate the size of redistribution of an economy is to calculate the ratio between tax revenue and the gross domestic product (GDP).