Cercetări financiare și monetare

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Author: search.filters.author.Cociug, VictoriaSubject: search.filters.subject.fiscal policy

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    Special tax regimes in taxing small and micro business activities: theoretical approaches and patent tax experience
    ("Victor Slăvescu" Centre for Financial and Monetary Research, 2017) Timus, Angela; Iordachi, Victoria; Cociug, Victoria
    Tax regulation of small business and self-employed individuals implies a great responsibility on behalf of fiscal authorities in their efforts to increase tax compliance and contribute, at the same time, towards business expansion within this sector. There is a large variety of approaches to taxing small and micro-enterprises in foreign practice. At the same time, policies of taxing different segments of the SME population should be selected carefully. Also it is important to measure effects of tax incentives. One of measures used by governments to promote small business activities is implementation of special tax regimes for some of business segments, which are based on simple rules for determining tax liability, as well as easy accounting and administrative tools. This article relates some of the countries’ experience in designing simplified tax regimes based on entrepreneurial patent, including the Republic of Moldova. At the same time, there are emphasized disadvantages of the given regime in Moldova and related recommendations for a better fiscal policy.
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    Discordances between fiscal policy and monetary policy – major issue for the emergent countries
    ("Victor Slăvescu" Centre for Financial and Monetary Research, 2016) Cociug, Victoria; Malendra, Denis
    This is a topic on which there is an abundance of literature. Books are filled with information on the topic of the interaction between monetary and fiscal policies, which is one of the key, but also one of the more complex, relationships in economic theory. With the role of the central bank lawyer in mind, the discussion below will address the issue from one specific angle, namely the relevance of fiscal policy for central bankers. In the last few years‘ papers have begun to analyze optimal monetary and fiscal policy in models incorporating nominal rigidities where social welfare is derived from the utility of agents. This article examines whether this analysis provides support for the consensus assignment, where monetary policy controls demand and inflation and fiscal policy controls government debt. In this article, we review positive and normative issues in the interaction between monetary and fiscal policy, with an emphasis on how views on policy coordination have changed over the last years. On the positive side, no cooperative games between a government and its central bank have given way to an examination of the requirements on monetary and fiscal policy to provide a stable nominal anchor. On the normative side, cooperative solutions have given way to emergency loans allocations. The central theme throughout is on the optimal degree of price stability and on the coordination of monetary and fiscal policy that is necessary to achieve it.
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    Possibilities of using tax multipliers for stabilization in transition economies
    (INCE, 2018) Cociug, Victoria; Timus, Angela; Iordachi, Victoria
    Within this study, the possibilities of identification and estimation of tax multipliers that are adequate for a transition economy have been analysed. These multipliers can be regarded as macroeconomic policy stabilizers, while their application is coordinated with the objectives established within the development strategies. The authors discuss the problem of equilibrating monetary stabilizers with the tax ones, which are used namely in transition economies to achieve sustainable economic growth, basing on the example of the Republic of Moldova.