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• Corporate tax - a new paradigm is needed! -II. A new global value-added tax is needed instead of a corporate tax

  31-47

  László Török

  Views:

  160

  Abstract: The corporate tax system is easy to manipulate in modern economies, with high explicit and implicit costs of maintaining it. Attempts to reform it have been unsuccessful, with aggressive tax planning and tax evasion gaining ground at the international level. The source of constant conflicts between national tax administrations and companies is also the corporate tax base and tax accounting. Therefore, based on a new paradigm, I have developed a new, globally introduce, corporate value-added tax on corporate adjusted sales. Revenues from this tax would replace general government revenues lost due to the abolition of corporate tax. Based on the GDP of the member states of the European Union, I calculated the rate of the new tax for all member states. In the study, I present in detail, the mechanism of operation of the new tax, then describe the advantages of the introduction of the new tax compared to the corporate tax. Finally, I will thoroughly present how the taxation of dividends from company owners/shareholders would change if the new tax I planned was introduced and operated. This new type of taxation of dividends would, in my view, contribute more fairly to the burden-sharing.

  Journal of Economic Literature (JEL) codes: C 53, E 62, H 24, K 34

• On the theoretical background to modern financial policy

  139-156

  Laszlo Jankovics

  Views:

  105

  At the formation of macroeconomics and modern economic policy a series of traditional Keynesian concepts which still carried great weight were changed in the wake of attacks from monetarism and neo-classicism. The currently fashionable financial policy regimes and the dilemmas of economic policy cannot be understood without analysing the theoretical revolution referred to above. The article examines the relevant areas and claims connected to currency and monetary policy in the modern economy, or to use a common expression the macro-economy of the open economy, with special reference to the paradigm shift of recent decades. It also studies the currently common conventions of applied economics, which, sprouting from theoretical bases, in practice influence the room for manoeuvre in national economic policy.

• The impact of digitalization on the financial sector

  29-42

  Cserne Panka Póta

  Patrícia Becsky-Nagy

  Views:

  534

  Present-day consumer society increasingly satisfies its needs through digital channels, and financial products and services are no exceptions. The 4th industrial revolution is not only about the penetration of technology, but also the paradigm shift of business processes. The traditional members of the financial sector must adapt to the digitalized world to keep their positions in the market. The penetration of BigTech and FinTech companies influenced the expectations of consumers: customer experience became the main criteria of their decisions. In order to simplify and accelerate processes, banks use the methods of digitalization, and automatize the system to increase client satisfaction. In this article, we will introduce the three
  bank types based primarily on the usage of innovative technology, the extension and depth of the cooperation with FinTech companies, and the status of a bank’s internal digital transformation. Also, we will introduce the current status of the banking sector evidenced by our SWOT-analysis and mention some of the existing payment solutions.
  JEL Classification: G21, G23