THE EVOLUTION OF FISCAL INDICATORS IN THE LAST YEARSIN ROMANIA
Tax revenues are an important part of budget revenues, and their structure represent the mirror of government's fiscal policy. Also their level and structure reflects the evolution of the economy in general. The evolution of tax revenues has been influenced by the financial crisis of this perio...
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| Format: | Article |
| Language: | deu |
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University of Oradea
2011-07-01
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| Series: | Annals of the University of Oradea: Economic Science |
| Subjects: | |
| Online Access: | http://anale.steconomiceuoradea.ro/volume/2011/n1/033.pdf |
| _version_ | 1811263859201146880 |
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| author | Kulcsar Edina Sabau - Popa Claudia Diana Morar Ioan Dan |
| author_facet | Kulcsar Edina Sabau - Popa Claudia Diana Morar Ioan Dan |
| author_sort | Kulcsar Edina |
| collection | DOAJ |
| description | Tax revenues are an important part of budget revenues, and their structure represent the mirror of government's fiscal policy. Also their level and structure reflects the evolution of the economy in general. The evolution of tax revenues has been influenced by the financial crisis of this period. The tax revenue structure in Romania is characterized by relatively high share of indirect taxes revenues in comparison with another European Union states, where the share of revenues from direct, indirect taxes and social contribution is relatively close. Government expenditure is vital for the economy especially if they are focused on productive areas. They are the engine of economic developments and plays an important role in raising the standard of living of population in a state. In the last years, the growth rate of public expenditure was higher than the trend of tax revenues increase. Sizing revenue and public expenditure is essential for achieving the budget balance target and to meet the criterion stipulated in the Stability and Growth Pact. According to the Pact, the budget deficit may not exceed 3% of GDP. This development asymmetric led to increased deficits in the last years. The high level of structural deficit has canceled an initiative to tax relaxation in this recession period. The need for fiscal consolidation has been paramount in the context of chronic deficit and difficulties faced in financing it. The opportune solution to finance the high public deficit and to achieve the objective of financial stability of the economy was contracting of public debt from International Monetary Fund. Other measures to reduce the deficit were the reduction of public expenditure and increasing tax revenues. We propose in this paper to analyze the evolution of fiscal indicators in comparison with the evolution of macroeconomic indicators to capture the reaction of taxpayers and economic environment at measures adopted. |
| first_indexed | 2024-04-12T19:52:41Z |
| format | Article |
| id | doaj.art-f9c142c7550a408db6039a79a5bd4016 |
| institution | Directory Open Access Journal |
| issn | 1222-569X 1582-5450 |
| language | deu |
| last_indexed | 2024-04-12T19:52:41Z |
| publishDate | 2011-07-01 |
| publisher | University of Oradea |
| record_format | Article |
| series | Annals of the University of Oradea: Economic Science |
| spelling | doaj.art-f9c142c7550a408db6039a79a5bd40162022-12-22T03:18:46ZdeuUniversity of OradeaAnnals of the University of Oradea: Economic Science1222-569X1582-54502011-07-0111402408THE EVOLUTION OF FISCAL INDICATORS IN THE LAST YEARSIN ROMANIAKulcsar EdinaSabau - Popa Claudia DianaMorar Ioan DanTax revenues are an important part of budget revenues, and their structure represent the mirror of government's fiscal policy. Also their level and structure reflects the evolution of the economy in general. The evolution of tax revenues has been influenced by the financial crisis of this period. The tax revenue structure in Romania is characterized by relatively high share of indirect taxes revenues in comparison with another European Union states, where the share of revenues from direct, indirect taxes and social contribution is relatively close. Government expenditure is vital for the economy especially if they are focused on productive areas. They are the engine of economic developments and plays an important role in raising the standard of living of population in a state. In the last years, the growth rate of public expenditure was higher than the trend of tax revenues increase. Sizing revenue and public expenditure is essential for achieving the budget balance target and to meet the criterion stipulated in the Stability and Growth Pact. According to the Pact, the budget deficit may not exceed 3% of GDP. This development asymmetric led to increased deficits in the last years. The high level of structural deficit has canceled an initiative to tax relaxation in this recession period. The need for fiscal consolidation has been paramount in the context of chronic deficit and difficulties faced in financing it. The opportune solution to finance the high public deficit and to achieve the objective of financial stability of the economy was contracting of public debt from International Monetary Fund. Other measures to reduce the deficit were the reduction of public expenditure and increasing tax revenues. We propose in this paper to analyze the evolution of fiscal indicators in comparison with the evolution of macroeconomic indicators to capture the reaction of taxpayers and economic environment at measures adopted.http://anale.steconomiceuoradea.ro/volume/2011/n1/033.pdffiscal, tax, fiscal revenues, budget, financial crisis |
| spellingShingle | Kulcsar Edina Sabau - Popa Claudia Diana Morar Ioan Dan THE EVOLUTION OF FISCAL INDICATORS IN THE LAST YEARSIN ROMANIA Annals of the University of Oradea: Economic Science fiscal, tax, fiscal revenues, budget, financial crisis |
| title | THE EVOLUTION OF FISCAL INDICATORS IN THE LAST YEARSIN ROMANIA |
| title_full | THE EVOLUTION OF FISCAL INDICATORS IN THE LAST YEARSIN ROMANIA |
| title_fullStr | THE EVOLUTION OF FISCAL INDICATORS IN THE LAST YEARSIN ROMANIA |
| title_full_unstemmed | THE EVOLUTION OF FISCAL INDICATORS IN THE LAST YEARSIN ROMANIA |
| title_short | THE EVOLUTION OF FISCAL INDICATORS IN THE LAST YEARSIN ROMANIA |
| title_sort | evolution of fiscal indicators in the last yearsin romania |
| topic | fiscal, tax, fiscal revenues, budget, financial crisis |
| url | http://anale.steconomiceuoradea.ro/volume/2011/n1/033.pdf |
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