Academic literature on the topic 'VAT information exchange system'

The article discusses the legal aspects of supranational legal regulation of value added taxation in the Persian Gulf countries. The novelty of the research lies in the comparative aspect of the legal study of supranational law on the value-added tax in the Gulf countries, which allows formulating fundamentally new characteristics and interpretations that extend the theoretical and legal views on the legal mechanism of VAT, and analyzing the key provisions of the legal regulation of VAT of the states that are parties to the Common VAT Agreement. The issues of the Agreement for the countries of the Gulf Cooperation Council, as well as acts of national legislation on this tax, were studied. The analysis of the provisions of the Agreement allows concluding that the tax instrument this Agreement regulates can be classified as a type of neutral legal regulation of value-added taxation. Its peculiarity is that the country for one reason or another introduces VAT into the national tax system with minimal tax rates and continues to keep it at a low level that does not have a restraining effect on the development of its own industry. This is the reference point for the Common VAT Agreement for the countries of the Gulf Cooperation Council. The research shows that the supranational legislation of the Persian Gulf countries covers the most complex and fundamentally significant issues of legal regulation of value-added taxation, which developed taking into account the accumulated world experience in the administration of this tax. Conclusions have been obtained that the main direction of the adopted supranational legislation is the creation of a unified legal framework for the development of a coordinated legal regulation of VAT in each of the six Arab states of the Persian Gulf. The definitions of concepts that are crucial for VAT regulation are given, among which the following can be distinguished: reverse VAT accrual, input tax, deductible tax, net tax, mandatory registration threshold, voluntary registration threshold, and tax group. In the final part of the work, it is concluded that the second regional system of legal regulation of value-added taxation after the European one is being created, which begins its development on the basis of supranational legislation. Within its framework, the states that are parties to the Agreement shall organize administrative cooperation in the following areas: (1) exchange of information necessary for determining tax accuracy; (2) coordination of synchronized audit procedures and participation in audits; (3) assistance in tax collection and adoption of necessary procedures related to VAT collection.

Globalization and digitalization lead to significant changes in society and economy, including the field of taxation. Moreover, the efforts of governments of many countries are aimed at implementing measures to combat profit shifting and ensure that budget revenues from corporate income tax and VAT are received in the proper amount. The article analyses main problems of corporate income tax and VAT, possible ways to solve them in near and distant perspectives. With regard to respective taxes, the main aspects of combating tax base erosion and tax evasion with the use of new digital methods, and the state of BEPS steps implementation in this part are analysed. Given that the corporate income tax in modern conditions has a number of disadvantages, it is likely that in the future it will be replaced by an alternative – a tax on withdrawn capital or a tax on cash flows at destination. VAT, in turn, is a neutral tax that is easy to algorithmize and administer. Therefore, it can also displace corporate income tax from the tax systems of countries. At the same time, there are a number of problems with VAT: cases of fraud, non-taxation or double taxation of transactions in international trade. It has been found that in the short run (up to 5 years) it is important for national governments to increase efforts to implement BEPS plan and to strengthen information exchange and international cooperation to counteract base erosion and profit shifting. To simplify VAT administration and improve the interaction between taxpayers and tax authorities within the same country, as well as in international trade, it is feasible to use the e-invoicing practice more widely. In distant perspective, it is possible to use blockchain technology. Taking into account global trends, the article provides recommendations for improving VAT and corporate income tax in the context of globalization and digitalization (in particular – further implementation of BEPS measures in all countries of the world, mandatory registration as VAT payers in jurisdictions, where sells of goods and services to end users take place, strengthening international coordination and cooperation in the field of taxation), as well as general recommendations that should contribute to digitalization and economic development of Ukraine in the near and distant future.

Purpose of research. In modern ventilation and air conditioning systems (VAC), one of the main components is an automatic control system (ACS) which performs various functions and also provides highly efficient operation in the range from shutdown functions to centralized regulation and control of climate parameters (temperature, humidity, monitoring concentrations of harmful substances, air speed). The goal is to study a mathematical model of heat flow control of a supply and exhaust ventilation system with a builtin integrated recuperative heat exchanger for the purpose of utilization of low-temperature heat of ventilation gases and emissions with the associated production of thermoelectricity.Methods. To achieve these goals, we used methods of mathematical simulation and computational model development. The automatic control of VAC is based on the principle of feedback – regulation of processes by obtaining information from external sensors based on mathematical simulation of physical processes occurring in the building or structure serviced.Results. An experimental supply and exhaust system with a plate heat exchanger-recuperator operates in a quasi-steady heat transfer mode. Exhaust air removed from the room is used as a heating medium. At the same time, the system is controlled using an independent scheme of connection to the heat supply system. The air heated in the room is considered as an incompressible gas, the heat exchange between the heating and heated heat transfer media is a steady­state process, the turbulence of the heating and heated flow of heat transfer media is isotropic. The result of the study is a mathematical model of heat flow control in the supply and exhaust ventilation system with a builtin integrated heat exchanger-recuperator. The optimal values of the heat energy consumed and the parameters of the ventilation system operation are obtained.Conclusion. A mathematical model of heat flow control in a supply and exhaust ventilation system with a builtin integrated heat exchanger-recuperator is proposed and investigated. The optimal values of the consumed heat energy and the parameters of the ventilation system operation are obtained.

This study analyzed the interest rate channel, credit channel, exchange rate channel and asset price channel for monetary policy transmission mechanism in Namibia. The idea behind this study is to have a comprehensive study that covers a variety of channels for monetary policy transmission mechanism. The study utilized a Bayesian vector autoregression (BVAR) technique on quarterly time-series data covering the period 2000:Q1 to 2016:Q4. In particular, the validity of the data used is checked and verified by using two sets of prior distributions suggested by Sims and Zha as well as prior distribution of Koop and Korobilis. The variables used in this study are real output (Yt), real effective exchange rate (Et), inflation rate (P t), repo rate (Rt), housing price index (Ht) and credit extended to private sector (Lt). The findings revealed that interest rate and credit channels remain important in the transmission mechanism to this day. Notably the exchange rate and asset price channels are also slowly gaining prominence in monetary policy transmission mechanism. Therefore, the study provides useful information to the monetary authorities regarding the process of transmission mechanisms. This is quite important especially that the Central Bank (Bank of Namibia) is very serious about financial stability within the financial system, given the fragility of the financial systems in the world due to financial crisis.

<p>The reconstructive study of the urban arrangement of Susa in the 4th century arose from the intention to exploit some resources derived from local studies, and survey activities, fulfilled by innovative methods from which the modelling of architectural heritage (AH) and virtual reconstructions are derived. The digital Segusio presented in this paper is the result of intensive discussion and exchange of data and information during the urban landscape documentation activities, and due to the technology of virtual model generation, making it possible to recreate the charm of an ancient landscape. The land survey has been accomplished using aerial and terrestrial acquisition systems, mainly through digital photogrammetry from UAV (Unmanned Aerial Vehicle) and terrestrial laser scanning. Results obtained from both the methods have been integrated into the medium scale geographical data from the regional map repository, and some processing and visualization supported by GIS (Geographical Information System) has been achieved. Subsequently, with the help of accurate and detailed DEM (Digital Elevation Model) and other architectural scale models related to the ancient heritage, this ancient landscape was modelled. The integration of the history of this city with digital and multimedia resources will be offered to the public in the city museum housed in the restored castle of Maria Adelaide (Savoy dynasty, 11th century), which stands in the place where the acropolis of the city of Susa lay in ancient times.</p>

<p class="VARKeywords">Data sharing is a fundamental process for the advancement of both natural and social sciences. Starting from the idea that computers and the internet have drastically changed the world in the last decades, this paper advocates for the creation of a space where archaeologists from around the world can share information about maritime history and exchange data with colleagues. Following the principles of open access, we argue that raw data publication is necessary and significant for the development and democratization of the discipline. This study explains the fundamental aspects of the Nautical Archaeology Digital Library (NADL) and its efforts to standardize information collection for shipwrecks and related sites, so that scholars can create a community to disseminate both raw data and complete information in the field of maritime archaeology. To achieve this, our purpose is to facilitate the development of common-ground methodology and terminology that promotes an intelligible dialogue within the global community of nautical archaeologists. This paper addresses some considerations on terminology and systematization in scientific disciplines and discusses the theoretical and methodological issues linked to the process of making a template for recording shipwrecks. Furthermore, this article analyses some of the problems related to the standardization of description processes and the necessity to create a flexible system that accounts for data diversity. The third section discusses how science is greatly enhanced by publishing information in open access platforms.</p><p>Highlights:</p><p>• Standardization of data allows robust comparative and inter-subjective analysis of coastal and maritime projects, shipwrecks and nautical technology.<br />• Research is strongly benefited by sharing information underlying publications and raw data generated within a project in open source platforms.<br />• Digital databases such as NADL enhance cooperative research, as well as teaching and outreach strategies.</p>

The authors put forward and consistently proved the hypothesis that changes in the structure of international trade (the development of electronic commerce, the active implementation of electronic cross-border payments), its legal regulation (the WTO Agreement on Trade Facilitation and the Framework Agreement on Paperless Cross-Border Trade, the entry into force of the Customs Code of the Eurasian Customs union) determine the need for changes in the paradigm of control and supervision activities in the sphere of charging, paying and collecting customs payments. We concluded that the tools introduced by the Federal Customs Service and the Federal Tax Service (electronic tracking of goods, electronic information exchange between tax and customs authorities, integrated information resource on international trade operators) are effective. The authors also present the results of the analysis of the economic effect of changes in the legal regulation of the accrual, payment, collection of customs payments, expressed in the growth of additional accrued and additional collected payments. Based on the analysis of the system of customs and tariff regulation, of the dynamics of the rates of the unified Customs Tariff of the EEu, and of the law enforcement practices, the authors formulated areas of risk that include the lack of uniform application of customs legislation and the strong influence of WTO law. The research carried out by the authors made it possible to forecast directions for improving the legal regulation and administration of the charging, paying and collecting customs payments. It includes: improving the unified mechanism of customs and tax administration, as well as foreign currency control based on the creation and application of integrated information technologies; implementation of international standards developed under the World Customs Organization; the existence of prerequisites for the possibility of payment of import customs duties and taxes after the release of goods for conscientious operators; redistribution of functions of customs and tax authorities (leaving control over the payment of import customs duty in the competence of customs authorities, with the possible transfer of control over the payment of indirect taxes (VAT and excise) payable in respect of imported goods).

<p>Umm ar-Rasas is a Jordan archaeological site, located 30 km southeast of the city of Madaba, in the northern part of Wadi Mujib. It preserves findings dating back the period from the end of 3rd to the 9th century AD and, since 2004, it belongs to the world heritage list of UNESCO. In 2015 a multidisciplinary work was undertaken over the archaeological site, mainly focusing on the Church of Saint Stephen, with the main purpose of enhancing the knowledge and documenting the conservation state of the polychrome mosaic floor, which covers the entire surface of the hall and presbytery. A huge amount of data has been collected, coming from archaeological and historical investigations, geophysics and geodetic inspections and geomatics surveying, which produced also a true orthophoto of the mosaic floor. Data has been organized in a geo-database, facilitating the exchange of information between different actors. Moreover, the management of data within a dedicated Geographic Information System (GIS), has allowed in-depth analysis for understanding the evolution of the iconographic repertoire that, over the centuries, has undergone several disfigurements due to the iconoclastic age. The knowledge of the mosaic has also been vital for the implementation of multimedia applications and for the creation of virtual experiences, in which the information can be conveyed and visualized directly on the virtual reconstruction of the whole archaeological site. The innovation of the proposed work, is therefore in the management of a data flow that can be exploited by different actors through different platforms: experts, thanks to the use of GIS, and visitors with the use of multimedia applications (such as Augmented Reality (AR) or highresolution web visualization) for dissemination purposes, in order to preserve this priceless mankind heritage.</p><p>Highlights:</p><ul><li><p>Definition of a complete pipeline ranging from data acquisition to visualization in multi-channel multimedia applications.</p></li><li><p>Management of heterogeneous data in Geographic Information Systems (GIS) and their exploitation in Augmented and Virtual Reality (AR/VR).</p></li><li><p>GIS applied to the archaeological domain for expert and non-expert users.</p></li></ul>

This paper examines the problem of information asymmetry between foreign, local, institutional and individual investors on the Bucharest Stock Exchange (BVB) for the period 2004–2011. Using monthly returns for individual companies listed on BVB, stock market indices during the seven years period, as well as aggregate data on foreign and domestic investors (both institutional and individual) sales and purchases on the Romanian stock market, this research intends to provide an answer to the following question: Are foreign investors better informed than the domestic ones and continually achieve higher rates of return on the Romanian stock market? We compare the information advantage of the different investors’ categories by separating the stock in our data sample into two categories, namely blue-chips stocks (mostly stocks that are part of the BET index, and also containing one international stock, Erste Bank), and “regular” stocks. Subsequently, we study the explanatory power for stock returns of potential impact factors, which reflect the monthly net position of four groups of investors on the Romanian Stock market (Purchases-Sales) by employing multivariate regression models and a five variable VAR system. Ultimately, we are interested in whether investors in one particular category are consistently net buyers just before stock returns increase and are net sellers before stock returns decrease, thus suggesting they have an information advantage as compared to the domestic ones. Our aim is to provide robust empirical evidence on the nature of investors’ information asymmetry by utilising a unique data set and directly assessing relevant inter-relationships.

The paper analyzes the Zimbabwean VAT system. The main objective was to establish and evaluate the gaps within the Zimbabwean VAT system, with the view of closing them so that the Zimbabwean VAT is attuned to the dictates of the best practice VAT. A review of literature was used and the main sources of information were the Zimbabwe Revenue Authority, the South African Revenue Services, literature from various journal articles and books and various reports and legislative instruments. The key finding of the study was that the Zimbabwean VAT system falls short of both the South African and best practice VATs. The main reasons for the gap are; a narrow VAT base fuelled by rampant VAT zero-rates and exemptions; it defies the destination principle; it does not conform to the principle of tax neutrality and tax simplicity; and it has high costs of collection and compliance. The study recommends that the Zimbabwean VAT system should be aligned to the best practice VAT through streamlining VAT privileges and correctly implementing the destination principle. Adequate funding should be allocated to the Zimbabwe Revenue Authority in order to embrace the Information Communication Technology (ICT) drive to reduce costs of compliance and collection.