FISCAL EFFECTIVENESS OF ENVIRONMENTAL TAXES: CASE OF EUROPEAN COUNTRIES

This research is devoted to solving the issue of clarification of approaches to assessment fiscal effectiveness of environmental taxes and identification the most influential from the volatility of this indicator macroeconomic and environmental security parameters. The urgency of this problem has be...

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Bibliographic Details
Main Authors: Alakbarov, Avaz, Vysochyna, Alina, Samusevych, Yaryna
Format: Conference Proceeding
Language:English
Subjects:
Alternative energy sources
Capital budgeting
Developing countries
Economic development
Economic growth
Economics
Empirical analysis
Energy consumption
Environmental assessment
Environmental impact
Environmental policy
Environmental security
Environmental tax
Expenditures
GDP
Greenhouse effect
Greenhouse gases
Gross Domestic Product
Growth rate
LDCs
Macroeconomics
Parameters
Regression analysis
Renewable resources
Research & development expenditures
Security
Supranationalism
Sustainable development
Synchronism
Synchronization
Tax revenues
Taxation
Taxes
Volatility
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Summary:This research is devoted to solving the issue of clarification of approaches to assessment fiscal effectiveness of environmental taxes and identification the most influential from the volatility of this indicator macroeconomic and environmental security parameters. The urgency of this problem has been determined by the vector at synchronization of Ukraine's and Azerbaijan's tax systems with the European tax practice and key global principles in this area. The main changes are focused on simplification of the mechanisms of accrual and charging of taxes, as well as elimination of inefficient fiscal instruments in favor of more efficient. Moreover, Global Development Goals by 2030focused on the importance of the environmental issues in ensuring country sustainable economic development. The authors realized comprehensive research aimed at finding out approaches to the assessment offiscal effectiveness of environmental taxes both from the business and government authorities perspective. It is also analyzed the main trends of changes of key proxies offiscal effectiveness of environmental taxes for the sample of European countries. It is also realized panel data regression analysis aimed at clarification of influence of environmental tax fiscal effectiveness proxies on basic macroeconomic indicators (budget revenue, gross domestic product growth rate, valued added in economy, foreign direct investment inflow, gross capital formation, shadow economy, R&D expenditures, renewable electricity output, greenhouse gas emission etc.). Based on the empirical research results it was developed set of recommendation on transformation of environmental taxation in order to ensure its fiscal effectiveness. The authors also developed a map of the most sensitive to the environmental tax fiscal effectiveness volatility macroeconomic and environmental security parameters that might be considered under development of state economic andfiscal policies.
ISSN:1849-6903
1849-6903