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- Title
POLITIKA BUXHETORE, TATIMET DHE ZHVILLIMI I REPUBLIKËS SË MAQEDONISË.
- Authors
KOVAÇI, Idriz
- Abstract
Budgetary policies and system are not paid sufficient attention to in the Republic of Macedonia. Relevant scientific papers are scarce and public debates are missing on the budget or its importance for the country's economic growth. Concerning taxes, the Republic of Macedonia has achieved significant progress. In 1994, the tax system underwent major reform; on April 1, 2000, the country introduced the Value Added Tax (VAT). However, these developments were not followed by similar improvements of the budgetary system. The budgetary policy is a mere continuation of the tax policy. They represent two aspects of one single process. The tax and budgetary policies have a single overall goal: to improve the standard of the citizens of the Republic of Macedonia. The government is attempting to attract foreign investment with its low-taxes policies, in an effort to tackle the most critical issue: the huge unemployment. However, these attempts are not supported by the weak and insignificant allocation of budgetary funds for capital investments. The budget is predominantly used to maintain the social peace in the country. But this cannot be continued for a long time in the future, as the main attraction for foreign investors are low taxes and low salaries, which cannot sufficiently provide for the budget in the long run. Significant changes are needed in the budgetary policy of the Republic of Macedonia. The Law on the Budget needs to set clear goals and to strengthen the principle of transparency. The openness of the budget of the Republic of Macedonia needs to be at a higher level. The allocation of budgetary funds must follow the priorities of the citizens of the Republic of Macedonia, and capital investments should be determined wisely and in the best interest of the society.
- Subjects
ECONOMIC development; FOREIGN investments; CAPITAL investments; UNEMPLOYMENT; TAXATION
- Publication
Vizione, 2014, Vol 21, p387
- ISSN
1409-8962
- Publication type
Article