If Poland continues catching up with Western Europe at a similar pace as now it could enter the group of the 20 most affluent countries in the world, the G20, before 2030 – says Piotr Arak, the Director of the Polish Economic Institute.
Companies operating in Ukraine will soon be paying a tax on dividends instead of the corporate income tax. This is the result of the many years of efforts of small and medium-sized companies to change the tax system.
FDI were perceived as exploiters and poisoners, but investors have developed their policies in the social responsibility of business to fight this perception, and they partly succeeded, said prof. Beata Javorcik.
After a number of tax evasion and money laundering schemes have been revealed in recent years, the Parliament of the European Union established a special committee to investigate the EU taxation policies.
Recent celebration of ten years of the Vienna Initiative was another reason for the deeper financial integration of the emerging European countries. Vienna Initiative is a framework for safeguarding the financial stability of emerging Europe.
The rate of global economic growth is around 4 per cent per year, as a result of which the situation on the labor markets is improving and the profits of enterprises are increasing. The tax revenues are also increasing, often faster than GDP.
The European Union is the largest single market in the world, governed by uniform rules set out in the directives and regulations. However, the interpretation of these rules is determined by the EU bureaucracy.
The hidden public debt is important for the sustainability of public finances, both in Poland and in the world. The latest financial crisis and expanding a scope of state responsibilities have contributed to the global increase in this type of debt.
Most countries of Western Europe used various types of austerity programs aimed at reducing the budget deficit in order to get out of economic trouble. Professor Alberto Alesina, an economist from Harvard University, examined which of these measures worked best.