Performance of bank tax revenues compared to other sectoral taxes. Evidence from Poland
Objectives The aim of this study is to verify the hypothesis of decreasing volatility of budget revenues obtained from the bank tax (although still high compared to traditional taxes). The background for the research of the bank tax and conclusions resulting from it are other sectoral taxes existing...
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| Format: | Article |
| Language: | English |
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Wyższa Szkoła Gospodarki Euroregionalnej im. Alcide De Gasperi
2023-07-01
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| Series: | Journal of Modern Science |
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| Online Access: | https://www.jomswsge.com/Performance-of-bank-tax-revenues-compared-to-other-sectoral-taxes-Evidence-from-Poland,168807,0,2.html |
| _version_ | 1797678239227838464 |
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| author | Paweł Robert Niedziółka Zbigniew Korzeb Andrzej Karpowicz |
| author_facet | Paweł Robert Niedziółka Zbigniew Korzeb Andrzej Karpowicz |
| author_sort | Paweł Robert Niedziółka |
| collection | DOAJ |
| description | Objectives
The aim of this study is to verify the hypothesis of decreasing volatility of budget revenues obtained from the bank tax (although still high compared to traditional taxes). The background for the research of the bank tax and conclusions resulting from it are other sectoral taxes existing in Poland, the revenues from which are, however, lower than those from the bank tax.
Material and methods
The analysis of the variability of revenues from individual sectoral taxes in Poland in years 2016 - 2021 was conducted using descriptive statistics, Hodrick-Prescott (HP) filter and ANOVA approach. Then the Pearson correlation is examined to compare empirical data with figures resulting from the HP filter.
Results
The results indicate that just after the introduction of the bank tax the volatility of inflows from this levy was relatively higher. There were also significant divergences between the budget forecasts and actual execution.
Conclusions
One expect that with introduction of other new taxes the development might be similar (i.e. revenues will be difficult to estimate in first two or three years and more accurate assumptions will be made in the following periods). To the authors' knowledge, this study is the first to analyse the volatility of bank tax revenues, and the conclusions drawn (especially regarding trends in volatility changes and deviations from original expectations) are relevant to the theory and practice of fiscal policy. In turn, the inference regarding the share of bank tax revenues in Poland in relation to total tax revenues brings for the banking lobby arguments in favour of liberalizing the bank tax assessment rules. |
| first_indexed | 2024-03-11T22:56:51Z |
| format | Article |
| id | doaj.art-96ec2995509f43d69fc797f36c1c6535 |
| institution | Directory Open Access Journal |
| issn | 1734-2031 2391-789X |
| language | English |
| last_indexed | 2024-03-11T22:56:51Z |
| publishDate | 2023-07-01 |
| publisher | Wyższa Szkoła Gospodarki Euroregionalnej im. Alcide De Gasperi |
| record_format | Article |
| series | Journal of Modern Science |
| spelling | doaj.art-96ec2995509f43d69fc797f36c1c65352023-09-21T15:37:30ZengWyższa Szkoła Gospodarki Euroregionalnej im. Alcide De GasperiJournal of Modern Science1734-20312391-789X2023-07-0151211414010.13166/jms/168807168807Performance of bank tax revenues compared to other sectoral taxes. Evidence from PolandPaweł Robert Niedziółka0https://orcid.org/0000-0002-1659-7310Zbigniew Korzeb1https://orcid.org/0000-0001-9690-3842Andrzej Karpowicz2https://orcid.org/0000-0003-3229-5272Szkoła Główna Handlowa w WarszawiePolitechnika BiałostockaPolitechnika BiałostockaObjectives The aim of this study is to verify the hypothesis of decreasing volatility of budget revenues obtained from the bank tax (although still high compared to traditional taxes). The background for the research of the bank tax and conclusions resulting from it are other sectoral taxes existing in Poland, the revenues from which are, however, lower than those from the bank tax. Material and methods The analysis of the variability of revenues from individual sectoral taxes in Poland in years 2016 - 2021 was conducted using descriptive statistics, Hodrick-Prescott (HP) filter and ANOVA approach. Then the Pearson correlation is examined to compare empirical data with figures resulting from the HP filter. Results The results indicate that just after the introduction of the bank tax the volatility of inflows from this levy was relatively higher. There were also significant divergences between the budget forecasts and actual execution. Conclusions One expect that with introduction of other new taxes the development might be similar (i.e. revenues will be difficult to estimate in first two or three years and more accurate assumptions will be made in the following periods). To the authors' knowledge, this study is the first to analyse the volatility of bank tax revenues, and the conclusions drawn (especially regarding trends in volatility changes and deviations from original expectations) are relevant to the theory and practice of fiscal policy. In turn, the inference regarding the share of bank tax revenues in Poland in relation to total tax revenues brings for the banking lobby arguments in favour of liberalizing the bank tax assessment rules.https://www.jomswsge.com/Performance-of-bank-tax-revenues-compared-to-other-sectoral-taxes-Evidence-from-Poland,168807,0,2.htmlfiscal policyanovabank taxsectoral taxvolatility of tax inflowshp filter |
| spellingShingle | Paweł Robert Niedziółka Zbigniew Korzeb Andrzej Karpowicz Performance of bank tax revenues compared to other sectoral taxes. Evidence from Poland Journal of Modern Science fiscal policy anova bank tax sectoral tax volatility of tax inflows hp filter |
| title | Performance of bank tax revenues compared to other sectoral taxes. Evidence from Poland |
| title_full | Performance of bank tax revenues compared to other sectoral taxes. Evidence from Poland |
| title_fullStr | Performance of bank tax revenues compared to other sectoral taxes. Evidence from Poland |
| title_full_unstemmed | Performance of bank tax revenues compared to other sectoral taxes. Evidence from Poland |
| title_short | Performance of bank tax revenues compared to other sectoral taxes. Evidence from Poland |
| title_sort | performance of bank tax revenues compared to other sectoral taxes evidence from poland |
| topic | fiscal policy anova bank tax sectoral tax volatility of tax inflows hp filter |
| url | https://www.jomswsge.com/Performance-of-bank-tax-revenues-compared-to-other-sectoral-taxes-Evidence-from-Poland,168807,0,2.html |
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