THE IMPORTANCE OF EXCISES FOR THE FISCAL BALANCE IN THE REPUBLIC OF SERBIA
Keywords:
excises, fiscal balance, VAR model, Republic of Serbia
Abstract
Excises are one of the most generous taxes in the Republic of Serbia and this tax form should be determined at adequately level in order to provide positive effect on the economy. The aim of this paper is to investigate the relationship between excises and fiscal balance in the Republic of Serbia for the period 2008-2019. Empirical research includes descriptive statistics, VAR model and Granger causality test in order to determine their relationship. Results of the paper show that excises have significant and positive effect on fiscal balance and there is unidirectional causality from excises to fiscal balance in the analyzed period.
References
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Laković, T., Mugoša, A., Čizmović, M., & Radojević, G. (2019). Impact of Taxation Policy on Household Spirit Consumption and Public-Finance Sustainability. Sustainability, 11(20), 1-15. doi: 10.3390/su11205858.
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Obadić, A., Globan, T., Nadoveza, O. (2014). Contradicting the twin deficits hypothesis: The role of tax revenues composition. Panoeconomicus, 61(6), 653-667.
Stanulović, M. (2017). Problem budžeskog deficit u savremenim ekonomijama. Ekonomija teorija i praksa, 10(1), 27-43.
Stojanović, M., Đorđević, M. (2016). The role of environmental taxes in Serbian tax system. Ekonomika, 62(4), 75-84.
Stojković, A. (2014). The place and role of the excises in contemporary tax systems. Bizinfo, 5(1), 1-18.
Vukša, S., Dinčić, M., Ristić, Ž., Belokapić, P. (2013). Poreski i carinski sistem i politika. Etnostil, Beograd.
Aničić, J., Aničić, D. (2019). Which model of economic development is the best for Serbia. Journal of Process Management. New Technologies, 7(4), 46-56.
Arsić, M., Ranđelović, S. (2019). Ekonomija oporezivanja – teorija i politika. Centar za izdavačku delatnost, Ekonomski fakultet, Beograd.
Bačanin, V. (2018). Ekološke uloge akciza u srpskom poreskopravnom sistemu, Ekonomski signali, 13(1), 1-15.
Baturan, L., Cvjetkovic, C. (2016). Excise duty on sweetened drinks in Serbia. Zbornik radova Pravnog fakulteta, Novi Sad, 50(3), 923-935.
Bisić, M., Ranđelović, S. (2018). Cigarette excise tax policy in the Western Balkans: Trends, effects and challenges. Ekonomika preduzeća, 66 (5-6), 320-332.
Ćurčić, M. (2016). Budget deficit of the Republic of Serbia. Oditor, 2(2), 51-58.
David, P. (2018). Do the V4 countries follow the European deficit? Evidence of Tobacco Taxes. Ekonomicky časopis, 66(3), 250-267
Đorđević, M. (2014). (Im)possibilities of revenue increase from consumption taxes in the tax system of Serbia. Teme, 38(3), 1155-1171.
Đorđević, M., Perović, D. (2016). An analysis of consumption taxes regressive effects. Teme, 40(4), 1399-1420.
Jović (2018) Poreski sistem i politika oporezivanja – teorija i praksa. Visoka poslovna škola strukovnih studija Novi Sad.
Kalaš, B., Mirović, V., Andrašić, J. (2017) Struktura poreza u Republici Srbiji, Finansije, (1-6), 7-18.
Kalaš, B., Mirović, V., Milenković, N. (2018). The relationship between taxes and economic growth: Evidence from Serbia and Croatia. The European Journal of Applied Economics, 15(2), 17-28.
Laković, T., Mugoša, A., Čizmović, M., & Radojević, G. (2019). Impact of Taxation Policy on Household Spirit Consumption and Public-Finance Sustainability. Sustainability, 11(20), 1-15. doi: 10.3390/su11205858.
Luong, L. & Vu, L.H. (2020). Impacts of Excise Taxation on Non-Alcoholic Beverage Consumption in Vietnam. Sustainability, 12(3), 1-13. doi: 10.3390/su12031092.
Obadić, A., Globan, T., Nadoveza, O. (2014). Contradicting the twin deficits hypothesis: The role of tax revenues composition. Panoeconomicus, 61(6), 653-667.
Stanulović, M. (2017). Problem budžeskog deficit u savremenim ekonomijama. Ekonomija teorija i praksa, 10(1), 27-43.
Stojanović, M., Đorđević, M. (2016). The role of environmental taxes in Serbian tax system. Ekonomika, 62(4), 75-84.
Stojković, A. (2014). The place and role of the excises in contemporary tax systems. Bizinfo, 5(1), 1-18.
Vukša, S., Dinčić, M., Ristić, Ž., Belokapić, P. (2013). Poreski i carinski sistem i politika. Etnostil, Beograd.
Published
2021/01/26
Section
Original Scientific Paper