Single Tax Research Articles

Management of agricultural business in war conditions: features of accounting and taxation

The publication is devoted to the development of recommendations for agricultural enterprises on the accounting of special operations to ensure the management function under martial law. The main problems of business production, which are the result of Russia's military aggression against Ukraine, are highlighted. The article summarizes the features of information support for the needs of management in martial law. The expediency of liberalizing the requirements for primary accounting for the special period is substantiated, which will allow adapting the documentation system to the specifics of organizing business processes under martial law. The main changes in the organization of labor relations and accounting for payments to employees are indicated. The procedure for taxation of charitable assistance is reflected, considering changes in the current legislation, the procedure for assessing charitable assistance, and a methodology for its accounting when providing and receiving is proposed. An algorithm for providing state assistance to small and medium-sized agricultural producers through the compensation of the interest rate on attracted loans has been studied, and a method for accounting for such assistance has been proposed. It is singled out as a specific object of accounting, the property of enterprises, which, due to its territorial location in the zone of active hostilities, in the zone of temporary occupation or other negative factors of the influence of the war, has become unuseful. It is concluded that the procedure for determining the amount of the expected recovery of an asset and losses from reducing its applicability, which is given in NSA No 28, cannot be applied in the event of the destruction of property (full or partial) and due to other negative factors of war impact. Such an assessment procedure should be determined by the state centrally, considering current wastage and losses from lost profits in the future; the procedure for accounting for the loss of utility of such property is proposed. The possibilities of tax management of agricultural enterprises to change the taxation system under martial law have been studied and methodological modes of reflection in the accounting of calculations for a single tax of payers of the 3rd group are offered.

Л. Н. Толстой и П. А. Столыпин: вопрос о земле (историческое противостояние писателя и политика)

The image of P. A. Stolypin, who was burdened by the task of agrarian changes in the country, still remains the object of the “arguments of the parties”. As a rule, one of the arguments ‘for’ or ‘against’ Stolypin’s agrarian policy is drawn from the content of L. Tolstoy’s letters of 1907-1909 to the reformer and his only reply. All these letters date to the most intense period of the land “revolution” in the sovereign state, which only started half a century after serfdom had been abolished. The current epistolary situation is really indicative because it reveals the views and aspirations of the two most prominent figures of the beginning of the 20th century, who had different opinions on the solutions of the most significant issue for Russia – the one of the land. The author of the present paper has a goal to study the epistolary sources anew, to sort through the essence of the program attitudes of each of the participants of the epistolary communication, and, where practicable, figure out the history of how these attitudes had been formed; reveal the ethical, psychological and intonation texture of the letters, which should facilitate the recreation of the more precise idea of the personalities of the writer and the politician, as well as the atmosphere of the epoch. Equally wishing well-being to their compatriots, separately L. N. Tolstoy and P. A. Stolypin were convinced that the way offered by each of them was the only way to achieve this well-being, which is demonstrated in the letters, as well as the speeches of the Prime Minister at the State Duma. The confrontation of the sender and the addressee was supported by the opponents and advocates of Stolypin’s reforms. L. Tolstoy, arguing for the abolition of land ownership, for the introduction of the “single tax”, by the strength of his influence on the contemporaries objectively hindered the historically reasonable innovations, proposed by the head of the government, who considered it necessary to discontinue the commune and to encourage the working peasant, by making him the owner of the land. The letter reflects the dramatic intensity of the reform implementation process and the dramatic state of their initiator and leader.

Unified tax payment: main features

The article is devoted to the peculiarities of the introduction in the Russian Federation of a new procedure for paying mandatory payments to the budget by organizations and individual entrepreneurs — the features of the introduction of a unified tax payment were investigated. The Federal Law 29.11.2021 № 379-FZ “On Amendments to Part One of the Tax Code of the Russian Federation” was analyzed, which introduces the concept of “single tax payment” and makes changes for business entities in the issue of transferring tax payments. The terms of transition to this payment, the sequence and features of the set-off of funds for various taxes, as well as the possibility of returning funds with excessive transfer of funds, are disclosed. Examples of distribution of unified tax payments for various taxes and procedure for sending mandatory notifications to the inspectorate of the Federal Tax Service are given.

Article: BEFIT and Formulary Apportionment: Should Intangibles Be Included in the Formula?

In 2021 the European Commission proposed a new framework for taxing corporate income (“Business in Europe: Framework for Income Taxation”, or BEFIT). Consolidated profits of European Union (EU) based groups will be aggregated into a single tax base, and then allocated to Member States (MS) through a formulary approach. Critical issues in defining the formula comprise how assets (including intangibles) should be reflected. The purpose of this article is to discuss some core topics related to intangible recognition and its potential impact in the formulary approach considered in BEFIT. More precisely, the topics addressed are: (1) should intangibles be included in the asset component of the formula, alongside with sales and employment? (2) considering the several types of intangible assets, which ones would merit inclusion? Our view is that intangibles acquired to other companies belonging to the group (related party transactions) and intangibles developed internally by group members but that do not meet criteria for accounting recognition, should be out of the formula. Contrarily, intangibles developed internally that fulfil criteria for accounting recognition, and intangibles acquired to third (independent) parties should be included, with an exception for recognized goodwill. BEFIT, formula apportionment, EU corporate taxation, intangibles

Analytical Study of the Continuous Increase in Tax Collection Due to GST Recovery in the Indian Economy

Abstract: The present research paper is based on in-depth research analysis of the continuous growth in tax collection due to GST collection in the Indian economy. GST was implemented on 01 July 2017 across the country under a single tax in the Indian economy. In April 2020 Till now the minimum GST collection was INR32172 crore whereas the highest ever GST collection was done. 141384 crores have happened in April 2021 (despite the second wave of the corona). GST compensation by the Center In the form of 23 states and 3 centers by taking loans on behalf of the states and union territories having legislative assemblies. Estimated compensation of INR 110000 crore in 20 installments between 23 October 2020 to 15 March 2021 in the governed territories. More than 100% of INR110208 crore was distributed. Apart from this, by 15 March 2021, all a loan of INR 106830 crore was raised by 28 states from the open market. Tax evasion in the GST regime Fake Input Tax Credit (ITC) has been a big problem since its inception. Even today not only normal Trade INR but also star exporting are evading tax by using fake ITC and defrauding the government. are putting In the last 02 financial year, the GST Council, in its many meetings, discussed many important issues like H. SN Code, Changes in the current structure of GST, Compulsory E-bill, a Cash deposit of GAT, GST Physical verification of registrations, action against CAs involved in fake invoices, GST refund, on receipt of bills Decisions were taken on reward, reduction in GST on electric vehicles, etc. Keywords: GST Collection, Indian economy, estimated compensation, Input Tax Credit, GST Council, GST refund.

THEORETICAL LOGOS OF FISCAL DECENTRALIZATION IN THE CONDITIONS OF PERMANENT TRANSFORMATION OF INTERBUDGETARY RELATIONS

The article examines the essential determinants of decentralization and its main elements. Considerable attention is paid to scientific and theoretical aspects of the impact of fiscal decentralization on local economic development. Priority aspects of realization of bases of fiscal decentralization in the Ukrainian administrative practice are covered. It is proved that the key idea of ​​fiscal decentralization is manifested in the achievement of financial autonomy by local governments through the accumulation of financial resources at a certain level of government. Emphasis is placed on the concept of fiscal federalism and its role in the socio-economic development of administrative entities of unitary states.
 It is argued that the construction of an effective system of inter-budgetary relations should take into account a range of measures to strengthen the own tax potential of the territorial community. It has been established that recently the tax potential of local self-government bodies has been identified by tax capacity at the expense of three taxes: personal income tax, property tax and single tax. The study showed that fiscal decentralization through the prism of tax, budget and debt instruments can provide a favorable socio-economic climate in local communities.
 A structural and logical scheme of the impact of key paradigms of fiscal decentralization on the development of united territorial communities in Ukraine has been built. It is proved that fiscal decentralization in the conditions of divergence of interbudgetary relations can become a catalyst for effective fiscal stimulus policy, as delegation of budgetary powers to lower levels, while improving the efficiency of budgetary resources, will allow more fully and regionally respond to regional development and local needs.

PROVISION OF THE INFORMATION FUNCTION OF AGRICULTURAL BUSINESS MANAGEMENT IN CONDITIONS OF MARTIAL LAW: FEATURES OF ACCOUNTING AND AUDITING

The publication is devoted to the development of recommendations for agricultural enterprises on the accounting of special operations to ensure the management function in conditions of martial law. The main problems of doing business, which are a consequence of Russia’s military aggression against Ukraine, are highlighted. The article summarizes the features of information support for the needs of agrarian business management in conditions of martial law. The expediency of liberalization of requirements for primary accounting for the period of a special period is substantiated, which will allow adaptation of the documentation system to the specifics of the organization of business processes in conditions of martial law. The main changes in the organization of labor relations and accounting for payments to employees are identified. The procedure for taxation of charitable assistance taking into account changes in current legislation, the procedure for assessing charitable assistance and the method of accounting for its provision and receipt are proposed. The procedure for providing state aid to small and medium-sized agricultural producers through the compensation of interest rates on loans has been studied, and the method of accounting for such aid has been proposed. The property of enterprises, which is due to its territorial location in the zone of active hostilities, in the zone of temporary occupation or due to other negative factors of the war, is singled out as a specific object of accounting that has lost its usefulness. It is concluded that the procedure for determining the amount of expected return on assets and losses from impairment, given in NP (S) BU №28, cannot be used in case of destruction of property (full or partial) and as a result of other negative factors of the war. Such an assessment procedure should be determined by the state centrally, taking into account current losses and losses from lost profits in the future. The order of accounting of losses of usefulness of such property is offered. Possibilities of tax management of agricultural enterprises to change the system of business taxation under martial law have been studied. Methodical methods of reflection in the accounting of calculations for the single tax of payers of the 3rd group are offered.

Avoiding Phantom Income in Bankruptcy: A Proposal for Reform

Chapter 11 of the Bankruptcy Code' was designed to give the debtor a breathing spell from creditors by granting the debtor time to formulate a reorganization plan without having to fend off creditor claims. Both the Senate and House Reports accompanying the Bankruptcy Code state that the purpose of the automatic stay is to provide the debtor with "a breathing spell from his creditors." Many courts have cited this language in describing the purpose of the automatic stay.During this breathing spell, a debtor continues to collect and accumulate money from pre-petition sales and services. Absent extraordinary circumstances, however, the debtor is not allowed to use those receipts to pay pre-petition claims until a plan of reorganization is confirmed.While designed to benefit the debtor, the breathing spell can also have severe adverse tax consequences for the debtor. For example, a cash method debtor would be taxed on its net income in year one, which would include all revenues collected, but would not be reduced by the offsetting deductions that would normally result from the payment of pre-petition liabilities. This results in phantom income in year one for funds received which are earmarked to pay pre-petition creditor claims, but which cannot be paid due to the bankruptcy prohibition on payment prior to plan confirmation, and mismatched deductions in year two when the plan of reorganization is confirmed and the claims of creditors are paid. Thus, in many cases, if the bankruptcy debtor is not able to confirm a plan of reorganization and make creditor payments during a single tax year, the debtor's tax accounting method is distorted.

Revealing mobility pattern of taxi movements with its travel trajectory

Taxi movements contain much mobility information of passengers and taxi drivers in a city. However, previous researches often overlook the continuous movements of a single taxi. In this paper, we study the mobility pattern of taxi movements by analyzing the visiting sequences which record the cells (i.e., locations) being visited by taxis. At the collective level, we observe the weak power-law scaling exists in the relation between the number of visits of a cell and the corresponding number of taxis. At the individual level, we notice some unusual characteristics of continuous movements of a single taxi: (i) the number of different cells that have been visited increase with the visit number and shows a robust scaling behavior; (ii) the cell’s visiting frequency decreases with the rank of the cell and presents as a logarithm function; (iii) The distribution of the number of visits taken to revisit one cell presents as an exponential distribution. The empirical result demonstrates that the taxi movements do follow the unified pattern and show a stronger exploration tendency and weaker preferential return than other human dynamics. Finally, we utilize an agent-based model to reveal and understand the unified pattern of taxi movements. The model results indicate that the rank distribution is an intrinsic characteristic to explore the taxi destination choice and simulate the taxi movements.

Case Law Note: The Brazilian Case Law on the Single Tax Principle: A Case of Tax Treaty Override

This article analyses the recent decision handed down by the Brazilian High Court of Appeals whereby the single tax principle and the abuse of law principle were applied in order to ultimately deny treaty benefits in the context of double tax conventions that provided for neither the entitlement to benefits clause nor the updated terminology of the title and preamble. Accordingly, since both principles could be deemed as general principles of law (therefore, part of the international law) comparable to double taxation conventions (DTC) provisions, lower level courts were allowed to condition treaty benefits to the demonstration that the taxpayer had complied with those principles. Therefore, in the case of potential hybrid mismatches, the absence of double non taxation for treaty benefits entitlement should be demonstrated. This article contends that this precedent must be reviewed. Firstly, the precedent disregards how international rules are created and how DTCs are interpreted. Secondly, it creates legal uncertainty in the context of DTCs. Ultimately, the precedent shall cause hermeneutic override whereby a state overrides a treaty with the pretext of interpreting treaty provisions. Single Tax Principle, Double Non-Taxation, Brazilian High Court of Appeals, Hybrid Mismatches.q

The Health Insurance Contribution Due by Natural Persons Earning Incomes from Independent Activities

The article hereby has a series of theoretical and practical issues regarding the health insurance contribution due by natural persons earning incomes from independent activities. In certain situations, natural persons earning such incomes may be liable for the payment of the health insurance contribution. During 2022, taxpayers make their assessment in view of setting a possible payment obligation of this contribution, and the completion of the earned income, underlying the setting of the final obligation in terms of the health insurance contribution, shall be achieved the following year, by filling in Chapter I in the single tax statement. The annual base for the calculation of the health insurance contribution is the equivalent of 12 national minimum gross salaries in force at the deadline for submitting the single tax statement. The health insurance contribution is set by applying the 10% rate to the annual base for the calculation.

The Single Statement Corresponding to the Year 2022

The order of the president of the National Agency for Fiscal Administration No. 2127/2021 provides the model, content and instructions for filling in the single tax statement and the social contributions due by natural persons (form 212), by means of which the natural persons earning non-salary incomes finalize their financial situation for 2021 and estimate the incomes and the due social contributions starting with 2022. The form has been updated compared to the previous year, including a series of changes made to the Fiscal Code by the Law No. 296/2020, the Government Ordinance No. 8/2021 and the Emergency Government Ordinance No. 111/2021. The article also comprises a case study which renders the way of filling in the single statement in the case of tax payers finalizing their financial situation for 2021 and presents the data regarding the estimated income tax and the social contributions due for this year.

GST: Awareness and Overview in Haveri District

The single tax system reduces transportation time. But, the services of external consultants are used for various tax matters. The country’s taxation system has improved with the help of GST and the government should take more efforts to training and educating public. Due to frequent change in GST law, companies need to change their accounting system. The technical cost and legal cost in GST are very high and not satisfied with available required services of GST. So, transition to GST is very difficult. Some common problems faced by business are increased overhead expense, supply chain structure, excessive compliances and filling, delays in refund, GST filling, decline in business, refund mechanism and rise in input cost. The satisfaction level of GST after implication has not reached the expectation of all Governments, consumers & business. The urgent requirements for improvement in the nation’s interest include rationalizing GST rates, removing excess processes, creating efficiencies and removing debatable aspects. The present study analyzes the awareness and overview of GST in the study area. Key Words: Tax, GST, Revenue, Difficulties, Awareness, Overview, India.

Evaluating Effectiveness of Low-Carbon Transition Policy Mix Based on Urban Private Car Trajectory Data

Under the vision of achieving carbon neutrality by 2060, it is urgent to introduce appropriate carbon reduction policy for city road traffic. This paper establishes a three-layer neural network model to predict the carbon emission from private cars based on urban private car trajectory data, simulates and analyzes the carbon emission from private cars, travel cost, personal income, and government revenue under the four policy perspectives, and evaluates and compares the emission reduction effects under four policy perspectives. Next, this paper evaluates the government revenue from the perspective of carbon tax and policy mix and compares the individual consumer utility of two-commodity and three-commodity mix, as well as the total social benefits under the four policy perspectives. The results show that the policy mix has better implementation effect on carbon emission reduction, personal income, and travel cost. The implementation effect of the single carbon tax policy is better in terms of government revenue. The implementation effect of the single carbon trading policy is better in terms of social benefit. In addition, as the carbon tax rate increases, the consumer utility tends to decline. Finally, this paper puts forward specific policy implementation proposals based on the above simulation analysis.

Теоретичні постулати оподаткування юридичних осіб суб’єктів малого бізнесу

The aim of the study is to substantiate the theoretical postulates of the simplified taxation system. In the course of scientific research, to achieve the goal, it is planned to solve the following tasks: to examine the function of the mechanism for administering the single tax on small businesses; to determine the scope of the possibility of paying a single tax; to distinguish the stages of taxation by a single tax of legal entities. As a result of the study, it is defined that the simplified taxation system has become the most effective instrument for strengthening the business activity of enterprises, and the development of new tax instruments and the construction of a comprehensive system for taxation of small businesses will allow small businesses, including legal entities, to pay tax liabilities at the lowest cost. Taxation of small business enterprises can be considered in different interpretations: political (development of territories), sociopolitical (revival of the middle class), social (increase in jobs and incomes), and economic (creation of GDP). Thus, the interpretation of the essence of taxation of small businesses can be considered from the standpoint of a triune approach that characterizes it as a phenomenon, process, and system. It is argued that the organization of taxation through the payment of a single tax by a legal entity can be divided into six stages which include: choosing the form of taxation and submitting an application for registration; determining the amount of income that provides an opportunity to become a single tax payer; obtaining a permit document – an extract from the register; declaration and payment of a single tax for the formation of the revenue part of the local budget. It is stipulated that the formation of the tax control system and its periodicity depends on the degree of risk of the activities of single tax payers.

PROSPECTS FOR THE DEVELOPMENT OF THE SIMPLIFIED TAXATION SYSTEM IN UNCERTAINTY CONDITIONS

The article investigates the peculiarities of the simplified taxation system in Ukraine and the main changes that were caused by the beginning of the war. It was determined that such a system has several shortcomings that affect the single tax's fiscal, regulatory and incentive efficiency. Nevertheless, the simplified taxation system plays a crucial role in the development of the direct entrepreneurial activity, which directly impacts the level of technological, investment and economic development of the country, as entrepreneurs are the driving force behind the development of IT, trade and services. Based on the analysis of tax changes in the direction of the simplified taxation system and experts' opinions on their appropriateness and vice versa, we believe that such a system is necessary for the functioning of the current small and medium-sized businesses. In the case of increasing tax rates or changing tax objects, it can contribute to the shadowing of business. Especially the issue of abandonment of the simplified taxation system cannot be raised in the current military conditions when one of the important items of budget formation is the voluntary payment of the single tax by entrepreneurs. That is, the practical analysis of the application of permitted tax mechanisms to minimize tax payments during the war made it possible to summarize the simplified taxation system's shortcomings and propose appropriate recommendations that will increase the fiscal and stimulating effect of the single tax. The identified recommendations will ensure the filling of the budget by introducing a progressive single tax rate, providing for a separate taxation group for IT specialists, controlling the legality of the use of benefits provided for the period of war, etc. At the same time, the stimulating function of the single tax is possible due to free consultations (the need for which was proved by the Google Trends tool), the launch of social media, and the increase of additional opportunities for expanding activities for all areas of economic activity. We believe that the implementation of the proposed recommendations will stimulate the further development of small and medium-sized businesses.

СПЕЦІАЛЬНИЙ РЕЖИМ ОПОДАТКУВАННЯ ДЛЯ СУБ’ЄКТІВ ГОСПОДАРЮВАННЯ ПІД ЧАС ВІЙНИ: НОВІ ПРАВИЛА ОБЛІКУ ТА ЗВІТУВАННЯ

Introduction. The new tax model, which was introduced in Ukraine on April 1, 2022 for the period of martial law, provides for the election of special tax treatment. This is the boldest and most global decision of the state, which will support the domestic economy by developing small and medium-sized businesses, which have suffered greatly from the aggression of the Russian Federation. The introduction of a special tax regime for legal entities and natural persons-entrepreneurs raises many questions for scientists and practitioners that need to be addressed. So, in particular: it is not clear who and under what conditions can choose a special tax regime; how to deal with VAT payers who want to work in a special mode; what taxes are exempt from taxpayers who have chosen a special tax regime; who does not benefit from the special tax regime; what are the features of accounting and reporting on a single tax at a rate of 2%, etc. Purpose. The purpose of the study is to specify the essence of the special tax regime in the economic and legal sphere, to determine the features of its application in terms of accounting and reporting for businesses that have chosen it. Materials and methods. The materials of the study are: 1) regulatory and legal support for regulating the issue of accounting and reporting indicators for taxpayers who have chosen a special tax regime for the period of martial law; 2) works of domestic and foreign scientists conducting their scientific and practical research in the field of accounting, reporting and taxation. The following methods were used in the process of scientific research: theoretical generalization and grouping (to determine the conditions of business entities on the simplified tax regime), formalization, analysis and synthesis (to form the basic rules of accounting and reporting for taxpayers who have chosen the simplified regime taxation); logical generalization of results (formulation of conclusions). Results. The scientific article reveals the features of accrual and payment of the single tax at the rate of 2% in terms of determining the conditions of stay on a special tax regime from April 1, 2022; identified the advantages and disadvantages of a special tax regime; issues related to accounting and reporting on the single tax at the rate of 2% are outlined; analyzed changes in the current tax legislation on the issue of conducting factual and in-house inspections by fiscal authorities for the period of martial law in Ukraine. Discussion. Further research is proposed to focus on improving the methods of accounting for income of economic entities that have chosen a special tax regime, their taxation and reflection in tax reporting

Податкова політика в умовах війни та її вплив на формування доходів місцевих бюджетів

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.

ОПОДАТКУВАННЯ МАЛОГО БІЗНЕСУ В УКРАЇНІ: РЕАЛІЇ СЬОГОДЕННЯ ТА ПЕРСПЕКТИВИ

The article considers the current system and the main changes in the taxation of small businesses under martial law. The negative factors of doing business are identified, among which dominate: fiscal pressure and high taxes, low purchasing power, rising prices, restrictive quarantine measures. The main threats and financial risks of the functioning of small businesses under martial law are indicated. The main consequences of military aggression on the development of small business are outlined. Attention is focused on the priority of tax incentives to stimulate the development of small business as the basis for stabilizing the national economy. Alternative systems of taxation of small businesses in accordance with the Tax Code of Ukraine are considered. The priority of the simplified system of taxation for small businesses is determined, the advantages of which are simplification of the procedure for calculating and administering the single tax, granting the right to choose the status of VAT payer. The fiscal importance of the single tax in the context of regional development is proved. The dynamics and structure of single tax revenues to local budgets are presented. It is established that the main payers of the single tax are individuals – entrepreneurs. The main tax innovations during the martial law in Ukraine are systematized and their fiscal consequences are presented. It is determined that the introduction of a special regime of the simplified taxation system with the payment of a single tax at the rate of 2% has certain benefits and risks for the implementation of effective activities of small businesses. It has been established that the simplified taxation system should be aimed at both the activation of small businesses and further financial support of local budgets. The main proposals for improving the simplified taxation system are presented and it is recommended to introduce tax preferences for small businesses in the context of determining the maximum amount of income received and differentiation of single tax rates for certain categories of small businesses in the implementation of strategic and socially important activities. The necessity of introducing special regimes of taxation of certain business entities by value added tax with the use of the experience of the European Union countries was noted.

A Study on Consumer Awareness and Perception about GST

Taxes play a major role in any economy to fund public spending and for redistribution of wealth. Before the introduction of Goods and Services Tax (GST), there were multiple taxes charged by the Centre and states in India making the overall tax structure more complicated. To harmonize the system of indirect taxes in India, GST was implemented on 1st July 2017, replacing various indirect taxes such as VAT, custom duty, excise duty, etc. It is a comprehensive tax in which large number of central and states taxes were merged into a single tax. The main aim of GST was to reduce the double or cascading tax burden on taxpayers, making the indirect taxation system easy and transparent. The common people are affected by the GST and they have different opinion regarding its fairness. It may be possible due to different level of awareness and understanding. The purpose of this paper is to find out the degree of consumers’ awareness and perception about GST. This study uses primary data which is collected through the well structured questionnaire from the consumers belonging from different age groups. Furthermore, the study looks to examine the relationship between customer’s awareness and perception about GST.