nep-acc New Economics Papers
on Accounting and Auditing
Issue of 2012‒07‒01
six papers chosen by
Alexander Harin
Modern University for the Humanities

  1. Review of Current Practices for Taxation of Financial Instruments, Profits and Remuneration of the Financial Sector By PriceWaterhouseCoopers
  2. Regressivity of environmental taxation: myth or reality? By Katri Kosonen
  3. The Euro Crisis: Implications for the Internal Market and Harmonisation of Corporate Taxes By Ruding, H. Onno
  4. A retrospective evaluation of elements of the EU VAT system By Institute for Fiscal Studies
  5. Using Audit Studies to Test for Physician Induced Demand: The Case of Antibiotic Abuse in China By Janet Currie; Wanchuan Lin; Juanjuan Meng
  6. Controversial and novel features of the Eurozone crisis as a balance of payment crisis By Sergio Cesaratto

  1. By: PriceWaterhouseCoopers
    Abstract: the Commission has instructed PwC to provide a review of the current tax provisions directed at the Financial Sector and financial instruments. The content of the Study is limited to the questions raised by the Commission in the questionnaires provided and is subject to certain limitations in terms of scoping as agreed by the Commission and detailed below in introduction of the respective Chapters. The Study covers 4 different Chapters, namely: Corporate Taxation of the Financial Sector – Banks, Value-Added Taxation of the Financial Sector, Labour Taxation in the Financial Sector, Taxation of Financial Instruments
    Keywords: European Union; taxation; financial transaction tax; financial activities tax;financial institutions
    JEL: G20 H21 H22 H23 H25 H27
    Date: 2012–06
  2. By: Katri Kosonen (European Commission)
    Abstract: This paper first presents an overview of the various factors that in light of the economic literature should be taken into account in the analysis of tax incidence of environmental taxation. It then explores the main empirical findings, in particular those which make a distinction between the distributional effects of transport-related taxes and those of other environmental taxes. This includes also some less well-known evidence from the Nordic countries. In the final section it presents some recent evidence on the distributional impact of energy taxation in the EU member states included in the impact assessment of the revision of the European Union’s Energy Tax Directive.
    Keywords: European Union; taxation; environmental taxes, redistribution
    JEL: H23
    Date: 2012–06
  3. By: Ruding, H. Onno
    Abstract: This CEPS Policy Brief looks at the ways in which the euro crisis has impacted the successful functioning of the internal market of the EU and the state of play with respect to the creation of a common consolidated corporate tax base in corporate taxation.
    Date: 2012–05
  4. By: Institute for Fiscal Studies
    Abstract: In December 2010, the Commission signed a contract for a retrospective evaluation of the consequences, in economic terms, of the functioning of the most pertinent elements of the current EU VAT system, as identified in the "Green Paper on the future of the VAT". The final report was submitted by the external consultants on 5 December 2011. This evaluation looked into the design and implementation of certain VAT arrangements, assessing their effectiveness and efficiency in terms of results and impacts they had created. It examined their relevance and their coherence with the smooth functioning of the single market and the requirement to avoid distortion of competition specified in Article 113 of the Treaty on the Functioning of the European Union.
    Keywords: European Union, taxation, VAT
    JEL: H25
    Date: 2011–12
  5. By: Janet Currie; Wanchuan Lin; Juanjuan Meng
    Abstract: The overuse of medical services including antibiotics is often blamed on Physician Induced Demand. But since this theory is about physician motivations, it is difficult to test. We conduct an audit study in which physician financial incentives, beliefs about what patients want, and desires to reciprocate for a small gift are systematically varied. We find that all of these treatments reduce antibiotics prescriptions, suggesting that antibiotics abuse in China is not driven by patients actively demanding antibiotics, by physicians believing that patients want antibiotics, or by physicians believing that antibiotics are in the best interests of their patients, but is largely driven by financial incentives. Our results also show that physician behavior can be significantly influenced by the receipt of a token gift, such as a pen.
    JEL: I11
    Date: 2012–06
  6. By: Sergio Cesaratto
    Abstract: The European crisis appears as the n-th “this time is different” episode of the financial liberalisation sequence cum fixed exchange rates, capital flows from the centre to the periphery, housing bubble, current account (CA) deficit and indebtedness, default. In the author’s view, although Reinhart and Rogoff (2009) is not a satisfactory account of the history and nature of defaults, their title conveys the sense of a recurring pattern of unfortunate events. In this contribution the author examines some conventional and heterodox explanations that have been given for the nature of the balance of payments (BoP) disequilibrium of the Eurozone (EZ) members in relation also to the presumed German mercantilism. The paper discusses next two different interpretations of the causes of the rise in the sovereign spread of periphery countries: both do not clearly identify the nature of the EZ crisis as a BoP crisis. Finally, it focuses on the novel and controversial features of the EZ BoP crisis compared to previous experiences. These original tracts regard the role of the European Central Bank in refinancing banks in peripheral countries.
    Keywords: European Monetary Union, financial crisis, Germany, neo-mercantilism, Balance of payment, capital flows, sudden stops, TARGET 2, Monetary sovereignty, MMT, Sinn
    JEL: B11 N14 F1 F33
    Date: 2012–05

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