Pockova, Irina (2013) Model of VAT in European Union and sistem of VAT Republic of Macedonia- comparative approach. Masters thesis, Goce Delcev University, Stip.
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Abstract
The Economic and Monetary Union is a process of harmonization of the
economic and monetary politics of the member – countries of EU in order to
introduce the single currency – euro.
EMU has been settled with the contract of Maastricht in 1992, by which has
been defined the criteria of admittance to EMU in order to protect the proper
functioning of EMU.
On these regulations or so-called criteria for convergence of the national
economies, depends whether the countries can be part of the Eurozone and accept
the euro as a single currency. They are: 1. Stability of prices ( inflation rate ): the
inflation rate must not be higher than 1.5% from the average of the three countries
with the lowest inflation rate, by which it is requested high stability of the domestic
currency; 2. The budget deficit must not surpass 3% of the GDI (Gross Domestic
Income) of the previous year; 3. The country debt must not surpass 60% from the
GDI of the previous year; 4. The long-term interest rate must not be higher than 2%
from the average of the rates of three countries with the lowest inflation rate; In order
to maintain and facilitate The Economic and Monetary Union in the part of keeping
fiscal politics, from 1999 has been enforced the Stability and Growth Pact. The aim
of this pact is to maintain the budget discipline in the member countries after the
introduction of the euro. The National Governments have the discrete right in the
management of the tax system and the tax politics which represent one of the
significant characteristics of the national sovereignty. The harmonization involves process of elimination of the fiscal barriers and process of bringing nearer of the tax
systems for the proper functioning of the common market. The first step in the
harmonization of indirect taxes has been the introduction of the Value-Added Tax.
The VAT (Value-Added Tax) is a consumers’ tax, the first country that has
introduced it is France in 1954. Later have followed the two directives in the area of
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the tax system of the European Union Council which prescribe uniform regulations
for all countries.
Although all the members of EU have implemented the VAT in their tax
systems, there are still significant differences among them in the type and height of
the tax rates, the tax exemption, the participation of the VAT in the overall tax
income of separate countries, the tax levy.
The sixth directive (2006/112/EK) is considered to be the basic law for VAT in
EU, because by this directive have been established the definitions and principles of
taxing the added value, and there is particular possibility for a choice left of the
member countries of The European Union.
The internalization of this directive involves establishment of uniform tax
basis, subjects to taxing, tax assesse, tax exemption, regulation of transactions
which will be taxed with the VAT.
Republic of Macedonia, candidate country for full-righted membership in The
European Union, is making significant changes in the adjustment of its legislature
with the legislature of The European Union.
The reforms which have been made and still are making in the tax system in
the part of indirect taxes – The VAT, represent adjustment with the directives and
other legal acts of The EU.
The Value-Added Tax in Republic of Macedonia has been introduced by
separate law on 1st of April 2000 and presents an adjustment to the standard
solutions in the tax systems of the member countries of EU. The law of The Value-
Added Tax is in accordance to the sixth directive which refers to the VAT and is fully
compatible to the European model.
| Item Type: | Thesis (Masters) |
|---|---|
| Subjects: | Social Sciences > Economics and business |
| Divisions: | Faculty of Economics |
| Depositing User: | Katerina Hadzi-Vasileva |
| Date Deposited: | 28 Mar 2013 13:57 |
| Last Modified: | 28 Mar 2013 13:57 |
| URI: | https://eprints.ugd.edu.mk/id/eprint/6055 |
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