Total Budget Revenues Research Articles

АНАЛІЗУВАННЯ ФІНАНСОВОЇ РОБОТИ ТЕРИТОРІАЛЬНОЇ ГРОМАДИ

Reforming the system of public finances and administrative- territorial organization of Ukraine affects the formation of effective mechanisms for financial support of the functioning of territorial communities for their full involvement in the processes of socio-economic growth of the state. In this context, the theoretical principles of the need to analyze the financial condition of territorial communities in Ukraine are considered. In accordance with modern domestic transformation processes, local self- government bodies are gradually becoming influential subjects of financing the development of territorial communities in Ukraine. In addition to them, today the important subjects in these processes are public authorities that provide funding for the development of territorial communities. The author of the study analyzed the financial work of Novostrilishchanskaya TG during 2019-2020. As a result, the amount of budget allocations increased by UAH 442082. Revenues from the provision of services also increased by UAH 6,668. The amount of income from exchange transactions increased by UAH 448,750,000. Tax revenues of the budget decreased by UAH 35,642. However, the total budget revenues increased by UAH 492,853. As for expenditures, there was a significant increase in expenditures for the implementation of budget programs by UAH 424,473. Based on the SWOT analysis, problems were identified and priority areas of community development were selected. The community has significant prospects for economic and social development, associated with a favorable geographical location, good transport links and hard work of community residents. It is substantiated that the financial support of territorial communities should be understood as the process of formation, distribution and use of financial resources in order to meet the needs and interests of citizens in all spheres of life in the territory. In this context, the main priority areas of financial development of the community for the next 3-5 years are proposed. Effective methods of analysis of financial work for construction of strategy of development of territorial communities are defined.

Financial Repression and Laffer Curves

This paper uses a simple calibrated general equilibrium model to evaluate the revenue from financial repression and its impact on Laffer curves for consumption, capital and labor taxes. By imposing a requirement for households to hold public debt with a below-market rate of return the government distorts optimal household allocation and raises extra revenues. Tighter financial repression shifts Laffer curves for labor and consumption down, but increases revenue from capital income taxation. Total budget revenue increases, which allow financing more public goods and can be welfare-improving.

The Customs Union Between Belarus, Kazakhstan and Russia: An Overview of Economic Implications for Belarus

The paper examines the economic implications of Belarus' participation in the newly created EURASEC Customs Union. The results of the calculations show that after the introduction of a common external tariff (CET) the level of tariff protection in Belarus has not increased noticeably. The reduction in the volume of imports from non-CIS countries equal to USD 1.1 bn (8% of Belarusian non-CIS import in 2008) will be mainly brought about by cancellation of used cars imports from non-member countries. The analyses revealed that Belarusian budget can benefit from participation in the Customs Union (CU). The amount of possible gain will be about 28.3% of total budget revenues from customs duties and customs charges in 2008 due to the fact that approximately 40% of Russian imports may go through customs clearance in Belarus owning to less bureaucracy at the border with respect to Russia, and the revenues from customs charges, which is not planned to be distributed among member countries, will be transferred to Belarusian budget. However, it is unlikely that CU membership will increase foreign direct investment (FDI) inflow to Belarus, since in the case of South-South regional trade agreements (the type of EURASEC countries CU) FDI usually goes to the bigger country, i.e. to the bigger market. Therefore, most probably that in the regional arrangement in question Russia followed by Kazakhstan will be the main beneficiaries of foreign direct investments.

Improving the Profits Deduction System

Deductions from profits are the fastest-growing revenue item of the state budget. For 1963, this revenue is planned at the level of 26.1 billion rubles, which amounts to 29.7% of total budget resources. The rate of growth of deductions from profits in the past five years (1958-1963) has surpassed the annual rate of growth of the turnover tax by approximately 10 times and has exceeded the annual rate of growth of total budget revenues by 100%.