Fiscal sustainability challenges in Romania
|
|
- Alexandra Logan
- 5 years ago
- Views:
Transcription
1 Preliminary Draft For discussion only Fiscal sustainability challenges in Romania Bucharest, May 10, 2011 Ionut Dumitru Anca Paliu
2 Agenda 1. Main fiscal sustainability challenges 2. Tax collection issues 3. Expenditure structure and efficiency issues
3 1. Main fiscal sustainability challenges
4 Main fiscal challenges Main task: reducing the high general government structural deficit while generating a reallocation of public expenditure towards growth-enhancing items (including infrastructure), addressing structural bottlenecks to growth, and ensuring longterm sustainability of public finances in view of the population ageing. Fiscal sustainability challenges: below-potential revenue mobilization chronic deficit of the public pension system and expected long-term impact of aging quasi-deficits of the SOEs unsustainable structure of public spending low efficiency of public spending lack of priorities for investments and multiannual budgeting lax fiscal management of local governments
5 Romania s fiscal consolidation plan is very ambitious GR RO ES PT UK IE BG SK NL PL EU27 FR EA CZ BE LT LV IT SI CY FI DE MT AT SE LU HU DK EE Fiscal adjustments in the European countries (% of GDP, ESA 95) Structural budget deficit in 2009 Structural budget deficit in 2012 Fiscal adjustment Fiscal adjustment - primary balance Source: European Commission (forecasts from Autumn 2010)
6 LU GR SI CY NL MT IE RO ES BE CZ LT FI SK DE EA UK EU27 AT BG PT SE DK FR HU IT LV EE PL Romania will need to face the high long term impact of ageing population Increase in age-related public expenditures, , % of GDP 21 unemployment long-term care healthcare pension spending total Source: European Commission
7 2. Tax collection issues
8 Romania has one of the lowest budget revenues in EU27 Norway Denmark Sweden Finland France Belgium Austria Italy Netherlands Hungary Slovenia Germany Portugal Cyprus United Czech Estonia Luxembourg Greece Malta Poland Spain Latvia Ireland Bulgaria Romania Lithuania Slovakia Euro area EU27 Budget revenues in EU countries (% of GDP, ESA 95) Source: Eurostat
9 Development of implicit tax rate for personal income tax Progressive taxation (between 18% and 40%) Flat tax of 16% Implicit tax rate for personal income tax** (rhs) Efficiency index*** ** Implicit tax rate is computed as the ratio between the budget revenues from direct taxes paid by households and gross wages from the national accounts (including the unobserved economy) *** Efficiency index is computed as the ratio between the implicit tax rate and the legal tax rate Source: Eurostat, NIS, Ministry of Finance, Fiscal Council
10 Legal tax rates vs. implicit tax rates for personal income tax in CEE countries Country Standard legal tax rate for personal income tax* Implicit tax rate** Efficiency index*** Rank BG CZ**** EE LV LT HU**** PL RO SI SK * If the legal tax rate was changed during the year, an weighted average was calculated ** Implicit tax rate is computed as the ratio between the budget revenues from direct taxes paid by households and gross wages from the national accounts (including the unobserved economy) *** Efficiency index is computed as the ratio between the implicit tax rate and the legal tax rate **** The tax base is super gross the gross salary plus the social contributions paid by the employer. In the case of the other countries the tax base is the gross salary minus the social contributions paid by the employee Source: Eurostat, NIS, Ministry of Finance, Fiscal Council
11 Development of implicit tax rate for corporate income tax 6.0 Legal tax rate of 25% Flat tax of 16% Implicit tax rate for corporate income tax** Efficiency index*** (rhs) 0.15 ** Implicit tax rate is computed as the ratio between the budget revenues from corporate income tax and gross operating surplus and mixed income from the national accounts (including the unobserved economy) *** Efficiency index is computed as the ratio between the implicit tax rate and the legal tax rate Source: Eurostat, NIS, Ministry of Finance, Fiscal Council
12 Legal tax rates vs. implicit tax rates for corporate tax in CEE countries Country Standard legal rate for corporate income tax Implicit tax rate* Efficiency index** Rank BG CZ EE LV LT HU PL RO SI SK * Implicit tax rate is computed as the ratio between the budget revenues from direct taxes paid by companies and gross operating surplus and mixed income from the national accounts (including the unobserved economy) ** Efficiency index is computed as the ratio between the implicit tax rate and the legal tax rate Source: Eurostat, NIS, Ministry of Finance, Fiscal Council
13 Development of implicit tax rate for VAT Implicit tax rate of VAT** Efficiency index*** (rhs) ** Implicit tax rate is computed as the ratio between the budget revenues from VAT and final consumption expenditure of households and NPISH from the national accounts (including the unobserved economy) *** Efficiency index is computed as the ratio between the implicit tax rate and the legal tax rate 0.45 Source: Eurostat, NIS, Ministry of Finance, Fiscal Council
14 Legal tax rates vs. implicit tax rates for VAT in CEE countries Country Standard rate of VAT* Implicit tax rate** Efficiency index*** Rank BG CZ EE LV LT HU PL RO SI SK * If the legal tax rate was changed during the year, an weighted average was calculated ** Implicit tax rate is computed as the ratio between the budget revenues from VAT and final consumption expenditure of households and NPISH from the national accounts (including the unobserved economy) *** Efficiency index is computed as the ratio between the implicit tax rate and the legal tax rate Source: Eurostat, NIS, Ministry of Finance, Fiscal Council
15 Development of implicit tax rate for social security contributions Implicit tax rate for social security contributions** Legat tax rate for social security contributions Efficiency index*** (rhs) 0.59 ** Implicit tax rate is computed as the ratio between the budget revenues from social security contributions and gross wages from the national accounts (including the unobserved economy) *** Efficiency index is computed as the ratio between the implicit tax rate and the legal tax rate Source: Eurostat, NIS, Ministry of Finance, Fiscal Council
16 Legal tax rates vs. implicit tax rates for social security contributions in CEE countries Country Legal rate of social security contributions* (%) Implicit tax rate** Efficiency index*** Rank BG CZ NA EE LV LT HU PL NA RO SI SK * If the legal tax rate was changed during the year, an weighted average was calculated ** Implicit tax rate is computed as the ratio between the budget revenues from social security contributions and gross wages and salaries from the national accounts (including the unobserved economy) *** Efficiency index is computed as the ratio between the implicit tax rate and the legal tax rate Source: Eurostat, NIS, Ministry of Finance, Fiscal Council
17 Legal social security contributions in NMS10 in 2010, % Social Contributions SK HU CZ RO PL LT SI LV EE BG Employer Employee Old-age pensions Total Employer Unemployment Employee insurance Total Employer Employee Health insurance Total Employer Employee Other Total Employer Employee Total Total Source: European Comission
18 Voluntary tax compliance has decreased lately 85% 75% 65% 55% 45% 35% 35% 33% 31% 29% 27% 25% 23% 21% 25% Share of employees in the underground economy (rhs) Efficiency index personal income tax Efficiency index social security contributions Efficiency index corporate tax (rhs) Efficiency index VAT 19% Source: Eurostat, NIS, Ministry of Finance, Fiscal Council
19 Tax evasion development in Romania RON mn Tax evasion from undeclared work: 9,032 11,298 14,951 19,044 22,055 21,247 - personal income tax (PIT) 1,885 2,358 3,259 4,277 5,238 4,919 - social contributions (SSC) 7,147 8,940 11,692 14,767 16,817 16,328 VAT fraud 7,441 10,684 16,437 18,901 19,548 19,107 Tax evasion from informal economy (households) 1,511 2,158 2,819 3,626 5,062 4,956 Total tax evasion PIT, SSC, and VAT 17,984 24,140 34,207 41,572 46,666 45,310 Non-observed economy (GVA) 35,814 47,849 66,117 83, ,741 97,155 % of GDP Tax evasion from undeclared work 3.7% 3.9% 4.3% 4.6% 4.3% 4.3% - personal income tax (PIT) 0.8% 0.8% 0.9% 1.0% 1.0% 1.0% - social contributions (SSC) 2.9% 3.1% 3.4% 3.5% 3.3% 3.3% VAT fraud 3.0% 3.7% 4.8% 4.5% 3.8% 3.8% Tax evasion from informal economy (households) 0.6% 0.7% 0.8% 0.9% 1.0% 1.0% Total tax evasion PIT, SSC, and VAT 7.3% 8.4% 9.9% 10.0% 9.1% 9.1% Non-observed economy 14.5% 16.6% 19.2% 20.0% 19.6% 19.8% Source: NIS, Fiscal Council
20 VAT gap* in EU countries LU ES IE NL SE SI DK PT FI FR PL EE BG DE MT BE EU25 AT UK CZ LT IT LV HU SK GR RO 40% 35% 30% 25% 20% 15% 10% 5% 0% Data as of 2006 * VAT gap is defined as the ratio between VAT not collected and VAT liability Source: European Commission, Directorate-General for Taxation and Customs Union, Reckon report, 2009, NIS, Fiscal Council
21 VAT gap* Romania vs Bulgaria 45% 40% RO BG 35% 30% 25% 20% 15% 10% 5% 0% * VAT gap is defined as the ratio between VAT not collected and VAT liability Source: NIS, Fiscal Council, World Bank
22 3. Expenditure structure and efficiency issues
23 Very rapid increase in public spending driven mainly by social expenditures 45% 40% 35% 30% 25% 20% 15% 10% 5% Compensation of employees (% of budget revenues) Social benefits (including pensions) (% of budget revenues) Intermediate consumption (% of budget revenues) Investment expenditures (% of budget revenues) Source: Eurostat, National Institute of Statistics
24 High level of social spending* in Romania (ESA 95, % of budget revenues) Greece Lithuania Ireland Spain Portugal Romania Cyprus Latvia Malta Slovenia Poland United Kingdom France Italy Denmark EU27 Slovakia Belgium Finland Estonia Austria Bulgaria Hungary Sweden Germany Luxembourg Czech Republic Norway Netherlands 100% % 80% 70% 60% 50% 40% * Compensation of employees in the public sector and social benefits other than social transfers in kind, payable Source: Eurostat
25 Infrastructure index in 2010 (World Competitiveness Report) High capital expenditures, low efficiency 6.5 DE FR UK DK AT BE IT FI LV SK NL PT CY SI GR HU LT ES EE IE PL BG RO LU CZ Capital expenditure (% of GDP, Annual average, , ESA 95) Source: Eurostat, World Competitiveness Report, 2010
26 No. of employees in the public sector 1,420,000 1,400,000 1,380,000 1,360, ,135: +89,774 local authorities +52,088 central state authorities 1,340,000 1,320,000 1,300, ,083: -48,301 local authorities -30,386 pre-universitary education -31,522 healthcare sector 1,280,000 1,260,000 1,240,000 1,220,000 1,200,000 Source: Ministry of Finance, Fiscal Council
27 Support ratio (contributors/100 pensioners, social security pensions) (percent) IE NL CY ES SE LU LV SK DK MT EA CZ EE EL PL FI FR BE AT LT SI DE IT BG HU PT RO Source: European Commission
28 Policy recommendations for fiscal administration 1. Compliance policy Develop and implement a compliance risk strategy in accordance with best practices in OECD and non-oecd countries The thresholds for large and medium sized taxpayers should be reassessed (multiple threshold based on turnover, assets, no of employees, group of taxpayers) Balance resources vs risks for tax evasion differentiation by taxpayer segments Better selection of cases to be investigated
29 Policy recommendations for fiscal administration 2. Optimizing administrative costs Taxpayer services should be shifted from direct contact in local offices to (centralized) Call Centers and the internet to be more cost effective and to allow for standardized information and quality control mechanisms. The number of territorial offices and overall workforce should be reduced. In the longer run, offices at the county level would be sufficient, in conjunction with specialized offices for large and medium sized taxpayers. Improve IT support and web-based taxpayer services and facilitating e- filing
30 Policy recommendations for fiscal administration 2. Optimizing administrative costs Total costs as a percentage of aggregate revenue Romania scored 0.72% in 2009 below average (this comparison does not take into account that ANAF unlike some of the comparator countries- is not responsible for the administration of taxes like Real Estate Tax, Inheritance Tax, Wealth Tax and Motor vehicle Tax, which tend to be more costly than PIT, CIT and VAT) Citizens /FTEs Labour force/ftes No of branches/mn of citizens No of branches/mn of labour force Romania Bulgaria Czech Republic Latvia Lithuania Slovakia Poland Hungary UK USA 3,316 1, Source: OECD, 2011, data for 2009
31 Policy recommendations for fiscal administration 2. Optimizing administrative costs Average staff usage on major tax functions (% of total, 2009) Client account Audit&other Enforced debt Corporate management verification collection management Other OECD countries All countries (50) Romania Bulgaria ) Taxpayer account management All functions associated with maintaining taxpayers records (e.g. registration, data processing, taxpayer accounting, filing, withholding tax administration, storage etc.); 2) Audit, investigation and other verification functions all staff on functions associated with verifying (either through field visits, office interviews or in writing) the information contained in taxpayers returns for all taxes administered by the revenue body; 3) Corporate overhead management functions: all staff for human resource management, information technology, accommodation, supply, security, internal assurance, and finance functions. Source: OECD, 2011, data for 2009
32 Policy recommendations for fiscal administration 2. Optimizing administrative costs Use of e-filing (% of total, 2009) Personal income tax Corporate income tax VAT Romania <1 2 5 Bulgaria Poland 1.4 na na Czech Republic 1 na na Hungary Estonia Latvia Lithuania 71 na 87 US na UK Source: OECD, 2011, data for 2009
33 Policy recommendations for fiscal administration 3. Reducing compliance costs very large number of tax payments required for taxpayers under the existing procedures. In terms of the number of payments Romania ranks 182 out of 183 in the World Bank Ease of Doing Business Survey. most interactions take place through physical visits to tax offices for both returns filing and payments. Solutions: Simplification by reducing the number of payments Stimulating e-filing and reduce face to face interaction Gradually abolishing cash payments at the tax offices
Taxation trends in the European Union EU27 tax ratio at 39.8% of GDP in 2007 Steady decline in top personal and corporate income tax rates since 2000
DG TAXUD STAT/09/92 22 June 2009 Taxation trends in the European Union EU27 tax ratio at 39.8% of GDP in 2007 Steady decline in top personal and corporate income tax rates since 2000 The overall tax-to-gdp
More informationOctober 2010 Euro area unemployment rate at 10.1% EU27 at 9.6%
STAT//180 30 November 20 October 20 Euro area unemployment rate at.1% EU27 at 9.6% The euro area 1 (EA16) seasonally-adjusted 2 unemployment rate 3 was.1% in October 20, compared with.0% in September 4.
More informationJanuary 2010 Euro area unemployment rate at 9.9% EU27 at 9.5%
STAT//29 1 March 20 January 20 Euro area unemployment rate at 9.9% EU27 at 9.5% The euro area 1 (EA16) seasonally-adjusted 2 unemployment rate 3 was 9.9% in January 20, the same as in December 2009 4.
More informationNOTE ON EU27 CHILD POVERTY RATES
NOTE ON EU7 CHILD POVERTY RATES Research note prepared for Child Poverty Action Group Authors: H. Xavier Jara and Chrysa Leventi Institute for Social and Economic Research (ISER) University of Essex The
More informationFiscal competitiveness issues in Romania
Fiscal competitiveness issues in Romania Ionut Dumitru President of the Fiscal Council, Chief Economist Raiffeisen Bank* October 2014 World Bank Doing Business Report Ranking (out of 189 countries) Ease
More informationGrowth, competitiveness and jobs: priorities for the European Semester 2013 Presentation of J.M. Barroso,
Growth, competitiveness and jobs: priorities for the European Semester 213 Presentation of J.M. Barroso, President of the European Commission, to the European Council of 14-1 March 213 Economic recovery
More informationDATA SET ON INVESTMENT FUNDS (IVF) Naming Conventions
DIRECTORATE GENERAL STATISTICS LAST UPDATE: 10 APRIL 2013 DIVISION MONETARY & FINANCIAL STATISTICS ECB-UNRESTRICTED DATA SET ON INVESTMENT FUNDS (IVF) Naming Conventions The series keys related to Investment
More informationMay 2009 Euro area external trade surplus 1.9 bn euro 6.8 bn euro deficit for EU27
STAT/09/106 17 July 2009 May 2009 Euro area external trade surplus 1.9 6.8 deficit for EU27 The first estimate for the euro area 1 (EA16) trade balance with the rest of the world in May 2009 gave a 1.9
More informationGender pension gap economic perspective
Gender pension gap economic perspective Agnieszka Chłoń-Domińczak Institute of Statistics and Demography SGH Part of this research was supported by European Commission 7th Framework Programme project "Employment
More informationAugust 2008 Euro area external trade deficit 9.3 bn euro 27.2 bn euro deficit for EU27
STAT/08/143 17 October 2008 August 2008 Euro area external trade deficit 9.3 27.2 deficit for EU27 The first estimate for the euro area 1 (EA15) trade balance with the rest of the world in August 2008
More informationHOW RECESSION REFLECTS IN THE LABOUR MARKET INDICATORS
REPUBLIC OF SLOVENIA HOW RECESSION REFLECTS IN THE LABOUR MARKET INDICATORS Matej Divjak, Irena Svetin, Darjan Petek, Miran Žavbi, Nuška Brnot ??? What is recession?? Why in Europe???? Why in Slovenia?
More informationJanuary 2009 Euro area external trade deficit 10.5 bn euro 26.3 bn euro deficit for EU27
STAT/09/40 23 March 2009 January 2009 Euro area external trade deficit 10.5 26.3 deficit for EU27 The first estimate for the euro area 1 (EA16) trade balance with the rest of the world in January 2009
More informationSocial Protection and Social Inclusion in Europe Key facts and figures
MEMO/08/625 Brussels, 16 October 2008 Social Protection and Social Inclusion in Europe Key facts and figures What is the report and what are the main highlights? The European Commission today published
More informationLibrary statistical spotlight
/9/2 Library of the European Parliament 6 4 2 This document aims to provide a picture of the, in particular by looking at car production trends since 2, at the number of enterprises and the turnover they
More informationCOMMISSION DECISION of 23 April 2012 on the second set of common safety targets as regards the rail system (notified under document C(2012) 2084)
27.4.2012 Official Journal of the European Union L 115/27 COMMISSION DECISION of 23 April 2012 on the second set of common safety targets as regards the rail system (notified under document C(2012) 2084)
More informationSecuring sustainable and adequate social protection in the EU
Securing sustainable and adequate social protection in the EU Session on Social Protection & Security IFA 12th Global Conference on Ageing 11 June 2014, HICC Hyderabad India Dr Lieve Fransen European Commission
More informationEurofound in-house paper: Part-time work in Europe Companies and workers perspective
Eurofound in-house paper: Part-time work in Europe Companies and workers perspective Presented by: Eszter Sandor Research Officer, Surveys and Trends 26/03/2010 1 Objectives Examine the patterns of part-time
More informationSTAT/14/ October 2014
STAT/14/158-21 October 2014 Provision of deficit and debt data for 2013 - second notification Euro area and EU28 government deficit at 2.9% and 3.2% of GDP respectively Government debt at 90.9% and 85.4%
More informationLEADER implementation update Leader/CLLD subgroup meeting Brussels, 21 April 2015
LEADER 2007-2013 implementation update Leader/CLLD subgroup meeting Brussels, 21 April 2015 #LeaderCLLD 2,416 2,416 8.9 Progress on LAG selection in the EU (2007-2013) 3 000 2 500 2 000 2 182 2 239 2 287
More informationCountry Health Profiles
State of Health in the EU Country Health Profiles Brussels, November 2017 1 The Country Health Profiles 1. Highlights 2. Health status 3. Risk Factors 4. Health System (description) 5. Performance of Health
More informationDecember 2010 Euro area annual inflation up to 2.2% EU up to 2.6%
STAT/11/9 14 January 2011 December 2010 Euro area annual inflation up to 2.2% EU up to 2.6% Euro area 1 annual inflation was 2.2% in December 2010 2, up from 1.9% in November. A year earlier the rate was
More information2 ENERGY EFFICIENCY 2030 targets: time for action
ENERGY EFFICIENCY 2030 targets: time for action The Coalition for Energy Savings The Coalition for Energy Savings strives to make energy efficiency and savings the first consideration of energy policies
More informationH Marie Skłodowska-Curie Actions (MSCA)
H2020 Key facts and figures (2014-2020) Number of IE researchers funded by MSCA: EU budget awarded to IE organisations (EUR million): Number of IE organisations in MSCA: 253 116,04 116 In detail, the number
More informationHow much does it cost to make a payment?
How much does it cost to make a payment? Heiko Schmiedel European Central Bank Directorate General Payments & Market Infrastructure, Market Integration Division World Bank Global Payments Week 23 October
More informationH Marie Skłodowska-Curie Actions (MSCA)
H2020 Key facts and figures (2014-2020) Number of BE researchers funded by MSCA: EU budget awarded to BE organisations (EUR million): Number of BE organisations in MSCA: 274 161,04 227 In detail, the number
More informationThemes Income and wages in Europe Wages, productivity and the wage share Working poverty and minimum wage The gender pay gap
5. W A G E D E V E L O P M E N T S At the ETUC Congress in Seville in 27, wage developments in Europe were among the most debated issues. One of the key problems highlighted in this respect was the need
More informationMay 2009 Euro area annual inflation down to 0.0% EU down to 0.7%
STAT/09/88 16 June 2009 May 2009 Euro area annual inflation down to 0.0% EU down to 0.7% Euro area 1 annual inflation was 0.0% in May 2009 2, down from 0.6% in April. A year earlier the rate was 3.7%.
More informationH Marie Skłodowska-Curie Actions (MSCA)
H2020 Key facts and figures (2014-2020) Number of NL researchers funded by MSCA: EU budget awarded to NL organisations (EUR million): Number of NL organisations in MSCA: 427 268.91 351 In detail, the number
More informationInvestment and Investment Finance. the EU and the Polish story. Debora Revoltella
Investment and Investment Finance the EU and the Polish story Debora Revoltella Director - Economics Department EIB Warsaw 27 February 2017 Narodowy Bank Polski European Investment Bank Contents We look
More informationCOMMISSION STAFF WORKING DOCUMENT Accompanying the document. Report form the Commission to the Council and the European Parliament
EUROPEAN COMMISSION Brussels, 4.5.2018 SWD(2018) 246 final PART 5/9 COMMISSION STAFF WORKING DOCUMENT Accompanying the document Report form the Commission to the Council and the European Parliament on
More informationH Marie Skłodowska-Curie Actions (MSCA)
H2020 Key facts and figures (2014-2020) Number of FR researchers funded by MSCA: EU budget awarded to FR organisations (EUR million): Number of FR organisations in MSCA: 1 072 311.72 479 In detail, the
More informationDG TAXUD. STAT/11/100 1 July 2011
DG TAXUD STAT/11/100 1 July 2011 Taxation trends in the European Union Recession drove EU27 overall tax revenue down to 38.4% of GDP in 2009 Half of the Member States hiked the standard rate of VAT since
More informationEUROPA - Press Releases - Taxation trends in the European Union EU27 tax...of GDP in 2008 Steady decline in top corporate income tax rate since 2000
DG TAXUD STAT/10/95 28 June 2010 Taxation trends in the European Union EU27 tax ratio fell to 39.3% of GDP in 2008 Steady decline in top corporate income tax rate since 2000 The overall tax-to-gdp ratio1
More informationH Marie Skłodowska-Curie Actions (MSCA)
H2020 Key facts and figures (2014-2020) Number of FI researchers funded by MSCA: EU budget awarded to FI organisations (EUR million): Number of FI organisations in MSCA: 155 47.93 89 In detail, the number
More informationFlash Eurobarometer 441. Report. European SMEs and the Circular Economy
European SMEs and the Circular Economy Survey requested by the European Commission, Directorate-General Environment and co-ordinated by the Directorate-General for Communication This document does not
More informationH Marie Skłodowska-Curie Actions (MSCA)
H2020 Key facts and figures (2014-2020) Number of PT researchers funded by MSCA: EU budget awarded to PT organisations (EUR million): Number of PT organisations in MSCA: 716 66,67 165 In detail, the number
More informationStandard Eurobarometer
Standard Eurobarometer 67 / Spring 2007 Standard Eurobarometer European Commission SPECIAL EUROBAROMETER EUROPEANS KNOWELEDGE ON ECONOMICAL INDICATORS 1 1 This preliminary analysis is done by Antonis PAPACOSTAS
More informationMacroeconomic Policies in Europe: Quo Vadis A Comment
Macroeconomic Policies in Europe: Quo Vadis A Comment February 12, 2016 Helene Schuberth Outline Staff Projection of the Euro Area Monetary Policy Investment Rebalancing in the euro area Fiscal Policy
More informationH Marie Skłodowska-Curie Actions (MSCA)
H2020 Key facts and figures (2014-2020) Number of SE researchers funded by MSCA: EU budget awarded to SE organisations (EUR million): Number of SE organisations in MSCA: 138 114.71 150 In detail, the number
More informationThe Skillsnet project on Medium-term forecasts of occupational skill needs in Europe: Replacement demand and cohort change analysis
The Skillsnet project on Medium-term forecasts of occupational skill needs in Europe: Replacement demand and cohort change analysis Paper presented at the Workshop on Medium-term forecast of occupational
More informationPROGRESS TOWARDS THE LISBON OBJECTIVES 2010 IN EDUCATION AND TRAINING
PROGRESS TOWARDS THE LISBON OBJECTIVES IN EDUCATION AND TRAINING In 7, reaching the benchmarks for continues to pose a serious challenge for education and training systems in Europe, except for the goal
More informationThe new fiscal code economic context and impact on the budget. Ionut Dumitru President of the Fiscal Council June 2015
The new fiscal code economic context and impact on the budget Ionut Dumitru President of the Fiscal Council June 2015 A booming economy before the crisis 1.8 2.1 Annual average GDP growth (2001-2008) 3.3
More informationThe EFTA Statistical Office: EEA - the figures and their use
The EFTA Statistical Office: EEA - the figures and their use EEA Seminar Brussels, 13 September 2012 1 Statistics Comparable, impartial and reliable statistical data are a prerequisite for a democratic
More informationH Marie Skłodowska-Curie Actions (MSCA)
H2020 Key facts and figures (2014-2020) Number of LV researchers funded by MSCA: EU budget awarded to LV organisations (EUR million): Number of LV organisations in MSCA: 35 3.91 11 In detail, the number
More informationCOMMISSION STAFF WORKING DOCUMENT Accompanying the document
EUROPEAN COMMISSION Brussels, 9.10.2017 SWD(2017) 330 final PART 13/13 COMMISSION STAFF WORKING DOCUMENT Accompanying the document REPORT FROM THE COMMISSION TO THE EUROPEAN PARLIAMENT, THE COUNCIL, THE
More informationIssues Paper. 29 February 2012
29 February 212 Issues Paper In the context of the European semester, the March European Council gives, on the basis of the Commission's Annual Growth Survey, guidance to Member States for the Stability
More informationInvestment in France and the EU
Investment in and the EU Natacha Valla March 2017 22/02/2017 1 Change relative to 2008Q1 % of GDP Slow recovery of investment, and with strong heterogeneity Overall Europe s recovery in investment is slow,
More informationGuidelines compliance table
Guidelines compliance table EBA/GL/2018/01 12 January 2018; Date of application 20 March 2018 Guidelines on uniform disclosures under Article 473a of Regulation (EU) No 575/2013 as regards the transitional
More informationEuropean Commission. Statistical Annex of Alert Mechanism Report 2017
European Commission Statistical Annex of Alert Mechanism Report 2017 COMMISSION STAFF WORKING DOCUMENT STATISTICAL ANNEX Accompanying the document REPORT FROM THE COMMISSION TO THE EUROPEAN PARLIAMENT,
More informationTwo years to go to the 2014 European elections European Parliament Eurobarometer (EB/EP 77.4)
Directorate-General for Communication PUBLIC OPINION MONITORING UNIT Brussels, 23 October 2012. Two years to go to the 2014 European elections European Parliament Eurobarometer (EB/EP 77.4) FOCUS ON THE
More informationRecommendations compliance table
Recommendations compliance table EBA/REC/2017/03 20 December 2017; Date of application 1 July 2018 Recommendations on outsourcing to cloud service providers The following competent authorities* or intend
More informationState of play of CAP measure Setting up of Young Farmers in the European Union
State of play of CAP measure Setting up of Young Farmers in the European Union Michael Gregory EN RD Contact Point Seminar CEJA 20 th September 2010 Measure 112 rationale: Measure 112 - Setting up of young
More informationSpecial Eurobarometer 418 SOCIAL CLIMATE REPORT
Special Eurobarometer 418 SOCIAL CLIMATE REPORT Fieldwork: June 2014 Publication: November 2014 This survey has been requested by the European Commission, Directorate-General for Employment, Social Affairs
More informationSTAT/14/64 23 April 2014
STAT/14/64 23 April 2014 Provision of deficit and debt data for 2013 - first notification Euro area and EU28 government deficit at 3.0% and 3.3% of GDP respectively Government debt at 92.6% and 87.1% In
More informationH Marie Skłodowska-Curie Actions (MSCA)
H2020 Key facts and figures (2014-2020) Number of AT researchers funded by MSCA: EU budget awarded to AT organisations (EUR million): Number of AT organisations in MSCA: 215 78.57 140 In detail, the number
More informationFIRST REPORT COSTS AND PAST PERFORMANCE
FIRST REPORT COSTS AND PAST PERFORMANCE DECEMBER 2018 https://eiopa.europa.eu/ PDF ISBN 978-92-9473-131-9 ISSN 2599-8862 doi: 10.2854/480813 EI-AM-18-001-EN-N EIOPA, 2018 Reproduction is authorised provided
More informationTable of Contents. Part 1 General Section
About the Editor Foreword v XV Part 1 General Section About this Guide 1-3 Background to the VAT in Europe 2-1 A. Principles of the VAT 2-2 B. VAT in the European Community 2-4 C. The European Union and
More informationOverview of Eurofound surveys
Overview of Eurofound surveys Dublin 21 st October 2010 Maija Lyly-Yrjänäinen Eurofound data European Working Conditions Survey 91, 95, 00, 05, 10 European Quality of Life Survey 03, 07, 09, 10 (EB), 11
More informationLowest implicit tax rates on labour in Malta, on consumption in Spain and on capital in Lithuania
STAT/13/68 29 April 2013 Taxation trends in the European Union The overall tax-to-gdp ratio in the EU27 up to 38.8% of GDP in 2011 Labour taxes remain major source of tax revenue The overall tax-to-gdp
More informationThe Eurostars Programme
The Eurostars Programme The EU-EUREKA joint funding programme for R&D-performing SMEs What is EUREKA? > 2 > EUREKA is a public network supporting R&D-performing businesses > Established in 1985 by French
More informationPROGRESS TOWARDS THE LISBON OBJECTIVES 2010 IN EDUCATION AND TRAINING
PROGRESS TOWARDS THE LISBON OBJECTIVES IN EDUCATION AND TRAINING In, reaching the benchmarks for continues to pose a serious challenge for education and training systems in Europe, except for the goal
More informationGuidelines compliance table
compliance table EBA/GL/2018/05 18 July 2018; Date of application 1 January 2019 on fraud reporting under the Payment Services Directive 2 (PSD2) The following competent authorities* or intend to with
More informationTaxation trends in the European Union
ISSN 1831-8797 Taxation trends in the European Union Main results 2012 edition Glossary BE Belgium BG Bulgaria CZ Czech Republic DK Denmark DE Germany EE Estonia IE Ireland EL Greece ES Spain FR France
More informationH Marie Skłodowska-Curie Actions (MSCA)
H2020 Key facts and figures (2014-2020) Number of PT researchers funded by MSCA: EU budget awarded to PT organisations (EUR million): Number of PT organisations in MSCA: 592 54.79 135 In detail, the number
More informationH Marie Sklodowska-Curie Actions (MSCA)
H2020 Key facts and figures (2014-2020) Number of FR researchers funded by MSCA: EU budget awarded to FR organisations (EUR million): Number of FR organisations in MSCA: 565 198.92 370 In detail, the number
More informationGuidelines compliance table
Guidelines compliance table EBA/GL/2017/05 Appendix 1 11 May 2017; Date of application 01 January 2018 (Updated 19 February 2018) Guidelines on ICT Risk Assessment under the Supervisory Review and Evaluation
More informationGuidelines compliance table
Guidelines compliance table EBA/GL/2017/01 Appendix 1 08 March 2017; Date of application 31 December 2017 (Updated: 14 November 2017) Guidelines on LCR disclosure to complement the disclosure of liquidity
More informationInvestment in Ireland and the EU
Investment in and the EU Debora Revoltella Director Economics Department Dublin April 10, 2017 20/04/2017 1 Real investment: IE v EU country groupings Real investment (2008 = 100) 180 160 140 120 100 80
More informationInvestment in Germany and the EU
Investment in Germany and the EU Pedro de Lima Head of the Economics Studies Division Economics Department Berlin 19/12/2016 11/01/2017 1 Slow recovery of investment, with strong heterogeneity Overall
More informationWorld Economic Outlook Central Europe and Baltic Countries
World Economic Outlook Central Europe and Baltic Countries Presentation by Susan Schadler and Christoph Rosenberg September 5 World growth returns to trend. (World real GDP growth, annual percent change)
More informationPUBLIC PERCEPTIONS OF VAT
Special Eurobarometer 424 PUBLIC PERCEPTIONS OF VAT REPORT Fieldwork: October 2014 Publication: March 2015 This survey has been requested by the European Commission, Directorate-General for Taxations and
More informationMacroeconomic overview SEE and Macedonia
Macroeconomic overview SEE and Macedonia Zoltan Arokszallasi Chief Analyst, Macro & FX/FI Research Erste Group Bank Erste Investors Breakfast, 29 September, Skopje 02. Oktober SEE shows mixed performance
More informationH Marie Skłodowska-Curie Actions (MSCA)
H2020 Key facts and figures (2014-2020) Number of LT researchers funded by MSCA: EU budget awarded to LT organisations (EUR million): Number of LT organisations in MSCA: 79 5.03 21 In detail, the number
More informationEUROPEAN COMMISSION EUROSTAT
EUROPEAN COMMISSION EUROSTAT Directorate F: Social statistics Unit F-3: Labour market Doc.: Eurostat/F3/LAMAS/29/14 WORKING GROUP LABOUR MARKET STATISTICS Document for item 3.2.1 of the agenda LCS 2012
More informationSwedish Fiscal Policy. Martin Flodén, Laura Hartman, Erik Höglin, Eva Oscarsson and Helena Svaleryd Meeting with IMF 3 June 2010
Swedish Fiscal Policy Martin Flodén, Laura Hartman, Erik Höglin, Eva Oscarsson and Helena Svaleryd Meeting with IMF 3 June 21 The S2 indicator Ireland Greece Luxembourg United Slovenia Spain Lithuania
More informationHarmonised Index of Consumer Prices (HICP) August 2015
Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15 MONTENEGRO STATISTICAL OFFICE R E L E A S E Broj: 201 Podgorica, 18 September 2015 When using the data please name the source
More informationAleksandra Dyba University of Economics in Krakow
61 Aleksandra Dyba University of Economics in Krakow dyba@uek.krakow.pl Abstract Purpose development is nowadays a crucial global challenge. The European aims at building a competitive economy, however,
More informationEUROSTAT SUPPLEMENTARY TABLE FOR REPORTING GOVERNMENT INTERVENTIONS TO SUPPORT FINANCIAL INSTITUTIONS
EUROPEAN COMMISSION EUROSTAT Directorate D: Government Finance Statistics (GFS) and Quality Unit D1: Excessive deficit procedure and methodology Unit D2: Excessive deficit procedure (EDP) 1 Unit D3: Excessive
More informationH Marie Skłodowska-Curie Actions (MSCA)
H2020 Key facts and figures (2014-2020) Number of CZ researchers funded by MSCA: EU budget awarded to CZ organisations (EUR million): Number of CZ organisations in MSCA: 157 23.11 58 In detail, the number
More informationCOVER NOTE The Employment Committee Permanent Representatives Committee (Part I) / Council EPSCO Employment Performance Monitor - Endorsement
COUNCIL OF THE EUROPEAN UNION Brussels, 15 June 2011 10666/1/11 REV 1 SOC 442 ECOFIN 288 EDUC 107 COVER NOTE from: to: Subject: The Employment Committee Permanent Representatives Committee (Part I) / Council
More informationThe Trend Reversal of the Private Credit Market in the EU
The Trend Reversal of the Private Credit Market in the EU Key Findings of the ECRI Statistical Package 2016 Roberto Musmeci*, September 2016 The ECRI Statistical Package 2016, Lending to Households and
More informationGetting ready to prevent and tame another house price bubble
Macroprudential policy conference Should macroprudential policy target real estate prices? 11-12 May 2017, Vilnius Getting ready to prevent and tame another house price bubble Tomas Garbaravičius Board
More informationThe marginal cost of public funds in the EU The case of labour taxes versus green taxes Salvador Barrios, Jonathan Pycroft, Bert Saveyn
The marginal cost of public funds in the EU The case of labour taxes versus green taxes Salvador Barrios, Jonathan Pycroft, Bert Saveyn presented by Jonathan Pycroft European Commission Directorate General
More informationInvestment and competitivenss" Boris Vujčić, guverner
Investment and competitivenss" Boris Vujčić, guverner e-mail: boris.vujcic@hnb.hr Outline Capital investment and FDI developments in Croatia and peer countries Structural position of Croatia Why are some
More informationTHE 2015 EU JUSTICE SCOREBOARD
THE 215 EU JUSTICE SCOREBOARD Communication from the Commission to the European Parliament, the Council, the European Central Bank, the European Economic and Social Committee and the Committee of the Regions
More informationTraffic Safety Basic Facts Main Figures. Traffic Safety Basic Facts Traffic Safety. Motorways Basic Facts 2015.
Traffic Safety Basic Facts 2013 - Main Figures Traffic Safety Basic Facts 2015 Traffic Safety Motorways Basic Facts 2015 Motorways General Almost 30.000 people were killed in road accidents on motorways
More informationEUROSTAT SUPPLEMENTARY TABLE FOR REPORTING GOVERNMENT INTERVENTIONS TO SUPPORT FINANCIAL INSTITUTIONS
EUROPEAN COMMISSION EUROSTAT Directorate D: Government Finance Statistics (GFS) and Quality Unit D1: Excessive deficit procedure and methodology Unit D2: Excessive deficit procedure (EDP) 1 Unit D3: Excessive
More informationTaxation trends in the European Union Further increase in VAT rates in 2012 Corporate and top personal income tax rates inch up after long decline
STAT/12/77 21 May 2012 Taxation trends in the European Union Further increase in VAT rates in 2012 Corporate and top personal income tax rates inch up after long decline The average standard VAT rate 1
More informationTAX EUROPEAN UNION VAT RATES AND THRESHOLDS. At 1 January 2018
TAX EUROPEAN UNION RATES AND THRESHOLDS EUROPEAN UNION: RATES & THRESHOLDS Format of number registration Austria AT UST ATU12345678 30,000 (nil for non resident Belgium BE BTW BE 0123.456.789 NIL (option
More informationReport on the distribution of direct payments to agricultural producers (financial year 2016)
Report on the distribution of direct payments to agricultural producers (financial year 2016) Every year, the Commission publishes the distribution of direct payments to farmers by Member State. Figures
More informationPublic data underlying the figures of Annual Report on the Results of Monitoring the Internal Electricity and Natural Gas Markets in 2015
Public data underlying the figures of Annual Report on the Results of Monitoring the Internal Electricity and Natural Gas Markets in 2015 Consumer Protection and Empowerment Volume January 2017 Legal notice
More informationEBA REPORT ON HIGH EARNERS
EBA REPORT ON HIGH EARNERS DATA AS OF END 2017 LONDON - 11/03/2019 1 Data on high earners List of figures 3 Executive summary 4 1. Data on high earners 6 1.1 Background 6 1.2 Data collected on high earners
More informationIncreasing the fiscal sustainability of health care systems in the European Union to ensure access to high quality health services for all
Increasing the fiscal sustainability of health care systems in the European Union to ensure access to high quality health services for all EPC Santander, 6 September 2013 Christoph Schwierz Sustainability
More informationEffects of the Current Economic Crisis on the Fiscal Variables in EU Countries *
Theoretical and Applied Economics Volume XVIII (2011), No. 2(555), pp. 127-138 Effects of the Current Economic Crisis on the Fiscal Variables in EU Countries * Iulian Viorel BRAŞOVEANU Bucharest Academy
More informationIn 2009 a 6.5 % rise in per capita social protection expenditure matched a 6.1 % drop in EU-27 GDP
Population and social conditions Authors: Giuseppe MOSSUTI, Gemma ASERO Statistics in focus 14/2012 In 2009 a 6.5 % rise in per capita social protection expenditure matched a 6.1 % drop in EU-27 GDP Expenditure
More informationStatus developments in the national public services
European Institute of Public Administration - Institut européen d administration publique Status developments in the national public services Prof. Dr. Christoph Demmke & Researcher Timo Moilanen Presentation
More informationH Marie Skłodowska-Curie Actions (MSCA)
H2020 Key facts and figures (2014-2020) Number of SI researchers funded by MSCA: EU budget awarded to SI organisations (EUR million): Number of SI organisations in MSCA: 121 12.53 35 In detail, the number
More informationAspecte ale competitivitatii economice a Romaniei
Aspecte ale competitivitatii economice a Romaniei Ionut Dumitru Presedinte Consiliul Fiscal, Economist-sef Raiffeisen Bank* Mai 2014 *Opiniile exprimate sunt opinii personale ale autorului si nu implica
More informationFlash Eurobarometer 398 WORKING CONDITIONS REPORT
Flash Eurobarometer WORKING CONDITIONS REPORT Fieldwork: April 2014 Publication: April 2014 This survey has been requested by the European Commission, Directorate-General for Employment, Social Affairs
More informationLive Long and Prosper? Demographic Change and Europe s Pensions Crisis. Dr. Jochen Pimpertz Brussels, 10 November 2015
Live Long and Prosper? Demographic Change and Europe s Pensions Crisis Dr. Jochen Pimpertz Brussels, 10 November 2015 Old-age-dependency ratio, EU28 45,9 49,4 50,2 39,0 27,5 31,8 2013 2020 2030 2040 2050
More information