l 'Indice de Libertad Económica 2012' elaborado por The Heritage Foundation, una organización estadounidense cuyo objetivo es "promover políticas públicas conservadoras, basadas en los principios de la libre empresa".
https://www.ijmst.com/
IJMST Volume 1 Issue 5, Manuscript 3
This study sought to examine the effect of tax authority regulation and administration on
voluntary compliance among small-scale businesses in Kakamega Municipality. The
beneficiaries of the study are to be the Kenya revenue authority and relevant tax agencies. It
may serve as input in designing the tax system both at the counties and national government;
may serve as a reference for further studies in this area The research design adopted was a
descriptive survey as the findings were be generalized to a large population and it will
determine the current situation on the ground thereby providing the opportunity to improve it
accordingly. Data was collected using structured questionnaires to 124 sampled taxpayers
purposively sampled. Markets were stratified in the identification of business. The project
was analyzed using descriptive statistics and SPSS. The taxpayers do not to comply with the
tax laws due to overstatement of tax rates or lack of tax equity and ineffectiveness of the tax
authority. It needs to strengthen itself by educating and training its employees, by
computerizing its operations and devoting additional resources.
This document is a base-line report that shows, by way of statistics, facts and figures, the state of the Bumiputera socio-economy, within the larger context of national macro-economic indicators.
Serious implementation of effective distributive policies, are needed urgently if we are to change the narrative of Malaysia’s development trajectory and secure the chance of an equitable and sustainable future for Malaysia and Malaysians.
https://www.ijmst.com/
IJMST Volume 1 Issue 5, Manuscript 3
This study sought to examine the effect of tax authority regulation and administration on
voluntary compliance among small-scale businesses in Kakamega Municipality. The
beneficiaries of the study are to be the Kenya revenue authority and relevant tax agencies. It
may serve as input in designing the tax system both at the counties and national government;
may serve as a reference for further studies in this area The research design adopted was a
descriptive survey as the findings were be generalized to a large population and it will
determine the current situation on the ground thereby providing the opportunity to improve it
accordingly. Data was collected using structured questionnaires to 124 sampled taxpayers
purposively sampled. Markets were stratified in the identification of business. The project
was analyzed using descriptive statistics and SPSS. The taxpayers do not to comply with the
tax laws due to overstatement of tax rates or lack of tax equity and ineffectiveness of the tax
authority. It needs to strengthen itself by educating and training its employees, by
computerizing its operations and devoting additional resources.
This document is a base-line report that shows, by way of statistics, facts and figures, the state of the Bumiputera socio-economy, within the larger context of national macro-economic indicators.
Serious implementation of effective distributive policies, are needed urgently if we are to change the narrative of Malaysia’s development trajectory and secure the chance of an equitable and sustainable future for Malaysia and Malaysians.
Registering for Growth: Tax and the Informal Sector in Developing CountriesDr Lendy Spires
Roughly half of all non-agricultural workers in developing countries work in very small enterprises with fewer than five employees. Indeed, between one-quarter and one-third of the non-agricultural workforce in most low- and lower-middle-income countries is self-employed (Gollin 2002).
Most of these micro-enterprises operate without registering as legal entities and, as a result, are a part of what is commonly referred to as the informal sector. Informal activity is estimated to comprise a much larger share of the economies of low-income countries – on average around 42% of GDP in a sample of 31 low-and lower-middle-income countries – than a comparable sample of 32 higher-income countries (22% of GDP) in the Organisation for Economic Co-operation and Development (OECD).1 Why is such a high proportion of the labour force in lower-income countries employed in the informal sector? De Soto (1989) famously proposed that governments – and Peru’s specifically – push firms into the informal sector by raising the barriers and costs of formalization.
By excluding firms from the formal sector, these barriers stifle entrepreneurship and reduce the dynamism of the private sector. Others (Levy 2008) have claimed that the high levels of informality represent an escape by small firms. This ‘exit’ view leads to a vicious cycle: firms escape because the state does not make formal status appealing. For example, financial markets and courts may be dysfunctional, and public procurement processes may be corrupt.
But by being in the informal sector, firms avoid paying taxes that would provide resources the state might use to improve the provision of these goods, or to force firms to become formal. In this view, informality may still stifle entrepreneurship, as firms sometimes remain small deliberately to avoid attracting the attention of regulators and tax collectors. If high rates of taxation push economic activity out of the formal economy, one would expect to see more informal activity in countries with higher tax collections.
However, just the opposite is the case. Across countries, there is a strong negative correlation between state revenue and informal activity. Indeed, another characteristic of low-income countries is that tax collec-tion by governments is very low. Government revenue 1 Estimates from Schneider, Buehn and Montenegro (2010). Taxes as a % of GDP 0 Shadow economy as a % of GDP Australia Austria Belgium Canada Chile Czech Republic Denmark Finland France Germany Greece Hungary Iceland Ireland Israel Japan Korea, Republic of Netherlands New Zealand Norway Slovenia Spain Sweden Turkey United Kingdom United States Italy Figure 1: Taxes and informality, OECD countries Source: World Bank (2013)
Position paper domestic revenue mobilizationSalia Adamu
This paper is targets the Government revenue authorities and finding innovative ways of raising revenue through the informal sector workers. All the revenue agencies are intensifying more revenue collection through old tax collection methods. This is done usually through the easy ways of PAYE, VAT and corporate taxes collection. The informal sector worker which account for 70% of the workforce are the least targeted for taxation. In view of growing public expenditure and reduction in annual budgetary support from development partners, there is the need to intensify domestic revenue generation through innovative strategies and capturing more informal sector workers.
International Journal of Humanities and Social Science Invention (IJHSSI)inventionjournals
International Journal of Humanities and Social Science Invention (IJHSSI) is an international journal intended for professionals and researchers in all fields of Humanities and Social Science. IJHSSI publishes research articles and reviews within the whole field Humanities and Social Science, new teaching methods, assessment, validation and the impact of new technologies and it will continue to provide information on the latest trends and developments in this ever-expanding subject. The publications of papers are selected through double peer reviewed to ensure originality, relevance, and readability. The articles published in our journal can be accessed online.
General Perception of Self Employed Nigerian on Tax Aviodance and Evasion A S...ijtsrd
The aim of this study is to study the range of tactics used by various self employed Nigerian in tax avoidance and evasion scheme. To achieve these objectives, we examine literature on the aforementioned issues and questionnaire was draft base on the research question and hypothesis formulated. The statistical tools of Spearman Rank Order Correlation was used to estimate the correlations of the sampled groups in two state of the federations, Anambra and Delta, and relationships between tax avoidance and evasion and the independent variables. Results reveal that respondents are of the opinion that tax evasion is ethical sometimes, and that significant relationship exists between the ethical view, mode of tax administration and cultural practices of the self employed and tax avoidance and evasion. It is therefore recommended that authorities should constantly review tax rates to reflect prevailing economic realities, be accountable, and ensure that necessary assistance is provided at all times to self employed in terms of incentive. Onakeke, Newman "General Perception of Self Employed Nigerian on Tax Aviodance and Evasion; A Study of Anambra and Delta State" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-4 | Issue-3 , April 2020, URL: https://www.ijtsrd.com/papers/ijtsrd30381.pdf Paper Url :https://www.ijtsrd.com/management/accounting-and-finance/30381/general-perception-of-self-employed-nigerian-on-tax-aviodance-and-evasion-a-study-of-anambra-and-delta-state/onakeke-newman
FACTORS AFFECTING TAX COMPLIANCE AMONG SMALL AND MEDIUM ENTERPRISES IN KITALE...paperpublications3
Abstract:This study seeks to establish factors affecting tax compliance by Small and Medium Enterprises, with special emphasis on Income Tax and Value Added Tax and their effects on government revenue. Tax compliance level which is internal factor affecting tax revenue not only undermines tax administration infrastructure but also makes the tax base narrow and inequitable. The objectives of the study include establishing the influence of compliance cost, fines and penalties and attitudes of tax compliance among Small and Medium Enterprises. The study adopts a descriptive research design involving both qualitative and quantitative research methodology. The target population was 200, out of which a sample size of 132 respondents were drawn, using stratified and simple random sampling. Questionnaires were used to collect primary data from the respondents, which were analyzed using SPSS applying both descriptive and inferential analysis. There was a positive relationship between the tax and compliance cost (r=.514), fines and penalties (r=.415) attitudes (r=.546) and tax compliance. The findings showed that compliance cost, fines and penalties and attitude had significant relationship with tax compliance. It is recommended that the tax system should provide a clear and simple guideline on how to fill tax returns but also enhance taxpayer education services to enable the taxpayers understand their rights and obligations as taxpayers, there should be moderate levels of fines and taxes so that SMEs are encouraged to comply since they will keep accurate records for taxation purposes in order to avoid fines and penalties.
Keywords: Direct tax, Indirect tax, Medium enterprise, Productive expenditure, tax evasion, tax impact.
Registering for Growth: Tax and the Informal Sector in Developing CountriesDr Lendy Spires
Roughly half of all non-agricultural workers in developing countries work in very small enterprises with fewer than five employees. Indeed, between one-quarter and one-third of the non-agricultural workforce in most low- and lower-middle-income countries is self-employed (Gollin 2002).
Most of these micro-enterprises operate without registering as legal entities and, as a result, are a part of what is commonly referred to as the informal sector. Informal activity is estimated to comprise a much larger share of the economies of low-income countries – on average around 42% of GDP in a sample of 31 low-and lower-middle-income countries – than a comparable sample of 32 higher-income countries (22% of GDP) in the Organisation for Economic Co-operation and Development (OECD).1 Why is such a high proportion of the labour force in lower-income countries employed in the informal sector? De Soto (1989) famously proposed that governments – and Peru’s specifically – push firms into the informal sector by raising the barriers and costs of formalization.
By excluding firms from the formal sector, these barriers stifle entrepreneurship and reduce the dynamism of the private sector. Others (Levy 2008) have claimed that the high levels of informality represent an escape by small firms. This ‘exit’ view leads to a vicious cycle: firms escape because the state does not make formal status appealing. For example, financial markets and courts may be dysfunctional, and public procurement processes may be corrupt.
But by being in the informal sector, firms avoid paying taxes that would provide resources the state might use to improve the provision of these goods, or to force firms to become formal. In this view, informality may still stifle entrepreneurship, as firms sometimes remain small deliberately to avoid attracting the attention of regulators and tax collectors. If high rates of taxation push economic activity out of the formal economy, one would expect to see more informal activity in countries with higher tax collections.
However, just the opposite is the case. Across countries, there is a strong negative correlation between state revenue and informal activity. Indeed, another characteristic of low-income countries is that tax collec-tion by governments is very low. Government revenue 1 Estimates from Schneider, Buehn and Montenegro (2010). Taxes as a % of GDP 0 Shadow economy as a % of GDP Australia Austria Belgium Canada Chile Czech Republic Denmark Finland France Germany Greece Hungary Iceland Ireland Israel Japan Korea, Republic of Netherlands New Zealand Norway Slovenia Spain Sweden Turkey United Kingdom United States Italy Figure 1: Taxes and informality, OECD countries Source: World Bank (2013)
Position paper domestic revenue mobilizationSalia Adamu
This paper is targets the Government revenue authorities and finding innovative ways of raising revenue through the informal sector workers. All the revenue agencies are intensifying more revenue collection through old tax collection methods. This is done usually through the easy ways of PAYE, VAT and corporate taxes collection. The informal sector worker which account for 70% of the workforce are the least targeted for taxation. In view of growing public expenditure and reduction in annual budgetary support from development partners, there is the need to intensify domestic revenue generation through innovative strategies and capturing more informal sector workers.
International Journal of Humanities and Social Science Invention (IJHSSI)inventionjournals
International Journal of Humanities and Social Science Invention (IJHSSI) is an international journal intended for professionals and researchers in all fields of Humanities and Social Science. IJHSSI publishes research articles and reviews within the whole field Humanities and Social Science, new teaching methods, assessment, validation and the impact of new technologies and it will continue to provide information on the latest trends and developments in this ever-expanding subject. The publications of papers are selected through double peer reviewed to ensure originality, relevance, and readability. The articles published in our journal can be accessed online.
General Perception of Self Employed Nigerian on Tax Aviodance and Evasion A S...ijtsrd
The aim of this study is to study the range of tactics used by various self employed Nigerian in tax avoidance and evasion scheme. To achieve these objectives, we examine literature on the aforementioned issues and questionnaire was draft base on the research question and hypothesis formulated. The statistical tools of Spearman Rank Order Correlation was used to estimate the correlations of the sampled groups in two state of the federations, Anambra and Delta, and relationships between tax avoidance and evasion and the independent variables. Results reveal that respondents are of the opinion that tax evasion is ethical sometimes, and that significant relationship exists between the ethical view, mode of tax administration and cultural practices of the self employed and tax avoidance and evasion. It is therefore recommended that authorities should constantly review tax rates to reflect prevailing economic realities, be accountable, and ensure that necessary assistance is provided at all times to self employed in terms of incentive. Onakeke, Newman "General Perception of Self Employed Nigerian on Tax Aviodance and Evasion; A Study of Anambra and Delta State" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-4 | Issue-3 , April 2020, URL: https://www.ijtsrd.com/papers/ijtsrd30381.pdf Paper Url :https://www.ijtsrd.com/management/accounting-and-finance/30381/general-perception-of-self-employed-nigerian-on-tax-aviodance-and-evasion-a-study-of-anambra-and-delta-state/onakeke-newman
FACTORS AFFECTING TAX COMPLIANCE AMONG SMALL AND MEDIUM ENTERPRISES IN KITALE...paperpublications3
Abstract:This study seeks to establish factors affecting tax compliance by Small and Medium Enterprises, with special emphasis on Income Tax and Value Added Tax and their effects on government revenue. Tax compliance level which is internal factor affecting tax revenue not only undermines tax administration infrastructure but also makes the tax base narrow and inequitable. The objectives of the study include establishing the influence of compliance cost, fines and penalties and attitudes of tax compliance among Small and Medium Enterprises. The study adopts a descriptive research design involving both qualitative and quantitative research methodology. The target population was 200, out of which a sample size of 132 respondents were drawn, using stratified and simple random sampling. Questionnaires were used to collect primary data from the respondents, which were analyzed using SPSS applying both descriptive and inferential analysis. There was a positive relationship between the tax and compliance cost (r=.514), fines and penalties (r=.415) attitudes (r=.546) and tax compliance. The findings showed that compliance cost, fines and penalties and attitude had significant relationship with tax compliance. It is recommended that the tax system should provide a clear and simple guideline on how to fill tax returns but also enhance taxpayer education services to enable the taxpayers understand their rights and obligations as taxpayers, there should be moderate levels of fines and taxes so that SMEs are encouraged to comply since they will keep accurate records for taxation purposes in order to avoid fines and penalties.
Keywords: Direct tax, Indirect tax, Medium enterprise, Productive expenditure, tax evasion, tax impact.
EL SEÑOR MALDICE AL HOMBRE QUE PONE SU CONFIANZA EN LA FUERZA HUMANA Y APARTA...reynaldo19400000
Huyamos de este pecado de la Idolatría. Que esta bien enraizado en nuestro corazón. Por naturaleza nuestro corazón está alejado de Dios y siempre busca en la criatura su ayuda y consuelo. También nosotros los cristiano estaremos tentados con frecuencia a este pecado, y tenemos que luchas contra él. Especialmente en nuestros días ha prevalecido la idolatría sutil. EL SEÑOR MALDICE AL HOMBRE QUE PONE SU CONFIANZA EN LA FUERZA HUMANA Y APARTA SU CORAZÓN DEL SEÑOR
KI a INESS v spolupráci s ďalšími partnermi organizovali medzinárodnú
konferenciu v rámci Free Market Road Show 2012 na tému Európa na ceste do
nevoľníctva?, ktorá sa konala dňa 27. apríla 2012 v Bratislave. Pozrite si
prezentáciu Daneila Mitchella. Viac informácií na
www.konzervativizmus.sk.
COMPLICATED PROBLEMS OF GOVERNANCE IN FRANCE (FRANCE GOVERNANCE STABILITY INDEX)
http://iilss.net/
http://maynter.com
TREND OF FRANCE BUDGET, BUDGET PER CAPITA AND BUDGET SIZE INDEX
THE FRANCE SITUATION IS NOT BAD, THEY HAVE JUST A CHALLENGE
PRISONER OF FREEDOM AND CULTURE (ANALYSIS OF FRANCE GOVERNMENTAL WEIGHT OR GW INDEX)
Deloitte 2014: Global Powers of Luxury GroupsDigitaluxe
Deloitte presents the first annual Global Powers of Luxury Goods. This report identifies the 75 largest luxury good companies around the world based on publicly available data for the fiscal year 2012.
Latin America and the Caribbean: Challenges and Opportunities in a Time of Cr...CEPAL, Naciones Unidas
Presentación de la Secretaria Ejecutiva de la CEPAL, Alicia Bárcena, Woodrow Wilson International Center for Scholars, Washington, 11 de septiembre de 2009.
Gartner confirms the 2008-09 financial crisis has triggered widespread adaptation of BPO and shared services by European countries and corporations. Presentation for the Shared Services and Outsourcing Exchange in Europe.
Alicante es pionera en el uso de soluciones innovadoras naturales para resolver los retos urbanos tal y como promueve la Unión Europea en su programa Horizonte 2020 e impulso de la Economía Circular. Como ejemplo, Alicante tiene el Parque Urbano Inundable más grande de Europa ("La Marjal"), con un marcado carácter social y medioambiental, dando solución a los problemas de inundaciones en una de las áreas urbanas, a la vez que conforma un nuevo pulmón verde sostenible con aves y flora autóctona. El parque dispone de un sistema inteligente único muy avanzado de vigilancia, aviso a los ciudadanos y coordinación con los servicios de seguridad para el desalojo en caso de previsión de lluvias. Además, la ciudad de Alicante aplica otras soluciones avanzadas orientada a la sostenibilidad como el uso de agua regenerada en parques y jardines de ciudadanos, además de los municipales o la valorización energética de lodos.
Company Valuation webinar series - Tuesday, 4 June 2024FelixPerez547899
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Affordable Stationery Printing Services in Jaipur | Navpack n PrintNavpack & Print
Looking for professional printing services in Jaipur? Navpack n Print offers high-quality and affordable stationery printing for all your business needs. Stand out with custom stationery designs and fast turnaround times. Contact us today for a quote!
VAT Registration Outlined In UAE: Benefits and Requirementsuae taxgpt
Vat Registration is a legal obligation for businesses meeting the threshold requirement, helping companies avoid fines and ramifications. Contact now!
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Putting the SPARK into Virtual Training.pptxCynthia Clay
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Business Valuation Principles for EntrepreneursBen Wann
This insightful presentation is designed to equip entrepreneurs with the essential knowledge and tools needed to accurately value their businesses. Understanding business valuation is crucial for making informed decisions, whether you're seeking investment, planning to sell, or simply want to gauge your company's worth.
"𝑩𝑬𝑮𝑼𝑵 𝑾𝑰𝑻𝑯 𝑻𝑱 𝑰𝑺 𝑯𝑨𝑳𝑭 𝑫𝑶𝑵𝑬"
𝐓𝐉 𝐂𝐨𝐦𝐬 (𝐓𝐉 𝐂𝐨𝐦𝐦𝐮𝐧𝐢𝐜𝐚𝐭𝐢𝐨𝐧𝐬) is a professional event agency that includes experts in the event-organizing market in Vietnam, Korea, and ASEAN countries. We provide unlimited types of events from Music concerts, Fan meetings, and Culture festivals to Corporate events, Internal company events, Golf tournaments, MICE events, and Exhibitions.
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Sports events - Golf competitions/billiards competitions/company sports events: dynamic and challenging
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➢ 2024 BAEKHYUN [Lonsdaleite] IN HO CHI MINH
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➢ Korean Vietnam Partnership - Fair with LG
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➢ Vietnam Food Expo with Lotte Wellfood
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At Techbox Square, in Singapore, we're not just creative web designers and developers, we're the driving force behind your brand identity. Contact us today.
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Spain’s economic freedom score
1. SPAIN
Economic Freedom Score
50
25 75
Least Most
free 0 100 free
World Rank: 36 Regional Rank: 17 69.1
This economy is not graded
S pain’s economic freedom2012 Index. Itsmakingisits econo-
my the 36th freest in the
score is 69.1,
score 1.1 points
lower than last year, with a significant deterioration in the
Freedom Trend
72
management of government spending overwhelming a mod-
est gain in business freedom. Spain is ranked 17th out of 43
71
countries in the Europe region, and its overall score is well
above the world average.
Spain dropped from “mostly free” to “moderately free” in the 70
2012 Index, due primarily to expansive public spending. Chal-
lenges are particularly significant in the areas of fiscal freedom,
government spending, and financial freedom. Government 69
spending is over 40 percent of GDP. Large fiscal deficits and
rising public debt signal the need for financial management
68
reforms and a return to a sustainable level of public spending.
2008 2009 2010 2011 2012
Since the financial crisis, Spain has imposed greater transpar-
ency on its banking system in comparison to other countries
in the region. Savings banks (cajas) have been insulated from Country Comparisons
market pressures and have been considered too politically
powerful to be allowed to fail. They remain burdened with bad Country 69.1
loans from the years of the housing boom. As of October 2011,
three savings banks had been nationalized. Consolidation of World
Average 59.5
the savings banks has brought the number down from 45 to
below 20, and their future is in question. Regional
66.1
Average
Background: Spain has enjoyed democratic rule since 1977
and joined the European Community in 1986. Public securi Free
Economies 84.7
ty has been marred by the nearly 50-year terrorist campaign
0 20 40 60 80 100
of the Basque separatist ETA. Following years of economic
reform and growth under former People’s Party Prime Min-
ister José María Aznar, José Luis Rodríguez Zapatero of the
Spanish Socialist Workers Party won office in the wake of a Quick Facts
series of al-Qaeda bomb attacks in Madrid in 2004. Zapatero Population: 46.0 million
was re-elected in 2008. The global economic crisis hit Spain GDP (PPP): $1.3 trillion
hard in 2009. To curb the recession, Zapatero introduced –0.1% growth in 2010
spending on public works and unemployment benefits, and 5-year compound annual growth 0.9%
the budget deficit has grown rapidly. In May 2010, the gov- $29,742 per capita
ernment introduced austerity reforms to reduce the deficit. Unemployment: 20.1%
Spain’s conservative Popular Party, led by Mariano Rajoy, won Inflation (CPI): 2.0%
the November 2011 election. FDI Inflow: $24.5 billion
Public Debt: 60.1% of GDP
How Do We Measure Economic Freedom?
See page 455 for an explanation of the methodology 2010 data unless otherwise noted.
or visit the Index Web site at heritage.org/index. Data compiled as of September 2011.
383
2. SPAIN (continued)
THE TEN ECONOMIC FREEDOMS
Country World Average Rank
RULE OF LAW Property Rights 70.0 25th
Freedom from Corruption 61.0 32nd
0 20 40 60 80 100
The judiciary is independent in practice, but bureaucratic obstacles are significant. Contracts
are secure, although enforcement is very slow. Patent, copyright, and trademark laws approxi-
mate or exceed EU levels of intellectual property protection. Enforcement actions using Spain’s
new legal framework concerning intellectual property rights have greatly increased criminal
and civil actions against infringements.
LIMITED Fiscal Freedom 61.3 162nd
GOVERNMENT Government Spending 37.1 145th
0 20 40 60 80 100
The top income tax rate is 45 percent, and the top corporate tax rate is 30 percent. Other taxes
include a value-added tax (VAT) and a capital gains tax, with the overall tax burden amount-
ing to 30.7 percent of total domestic income. Government spending has increased to a level
equivalent to 45.8 percent of GDP. The budget balance has fallen into deficit, and public debt
has grown to around 60 percent of total domestic output.
REGULATORY Business Freedom 81.3 34th
EFFICIENCY Labor Freedom 51.8 123rd
Monetary Freedom 81.5 27th
0 20 40 60 80 100
Procedures for setting up a business have been streamlined, with the number of licensing
requirements reduced. Bankruptcy proceedings are fairly easy and straightforward. Steps
taken in 2010 to reform the labor market make it less costly to dismiss a permanent worker
and give employers more influence over employee organizing. Despite some progress, labor
regulations remain restrictive. Monetary stability has been well maintained.
OPEN Trade Freedom 87.1 12th
MARKETS Investment Freedom 80.0 14th
Financial Freedom 80.0 4th
0 20 40 60 80 100
Spain’s trade policy is the same as that of other members of the European Union, with the
common EU weighted average tariff rate standing at 1.4 percent, but myriad non-tariff barri-
ers increase the cost of trade. Nearly all sectors are open to foreign investment, and approval
procedures have been streamlined. The banking sector has been under considerable strain,
with savings banks burdened with volumes of bad loans.
Score Changes
LIMITED REGULATORY
RULE OF LAW GOVERNMENT EFFICIENCY OPEN MARKETS
Property Rights 0 Fiscal Freedom +0.3 Business Freedom +4.1 Trade Freedom –0.5
Freedom from 0 Government –12.2 Labor Freedom –1.2 Investment Freedom 0
Corruption Spending Monetary Freedom –0.9 Financial Freedom 0
384 2012 Index of Economic Freedom