The article deals with the VAT gap, its split by causes and determinants, the problem of dependencies. The article also reveals the main ways of calculating the VAT gap - their advantages and disadvantages, summarizes the research done by theoreticians and evaluates the research results. After the theoretical analysis and presentation of the research methodology, the aim is to find out the variables that influence the VAT gap in Lithuania. Using the regression analysis model, the factors determining the VAT gap and their significance, as well as their impact on the decrease / increase of the VAT gap in Lithuania, were identified.
The article analyses and summarizes the various author’s approach to value-added tax (hereinafter - VAT), its role in the tax system and the impact of VAT revenue on the state budget. The article considers the features of VAT, its positive and negative characteristics, discusses the aspects of implementation of tax function, and identifies the revenue collection determinants examined in literature. The impact of VAT revenues on the European Union (hereinafter - EU) Member States (hereinafter - MS) budgets, and the dynamics of the standard VAT rate and income from VAT collection efficiency is analysed. Having selected four EU Member States (Bulgaria, Italy, Ireland and Lithuania), the method of pair correlation is used to evaluate the economic and VAT describing factors affecting the revenue from VAT collection in these countries. The most correlating factors in each of the selected countries were used to create multiple regression models. After discussing the situation of VAT in the EU, the article analyses the dynamics of the revenue from VAT part in the state budget income. It examines the changes of revenue from VAT, the causes that determined a (non) enforcement of the plan of the revenue from VAT, the efficiency of the collection of revenue from VAT and its reasons analysing the case of Lithuania. In order to identify the factors that determined the revenue from the collection of VAT in Lithuania in the period 2005-2015, three multiple regression models were se up, analysed and summarized.
Financial globalization created an environment for structured product development in financial markets. With the help of these instruments it is possible to transform an asset into a new investment vehicle, that opens new investment possibilities for risk averse investors, along with those investors who are searching for higher yield. This paper analyses different structured products and their influence on investment management using ratio analysis, Markowitz portfolio optimization model and Monte Carlo simulation. Analysis revealed that structured products have a significant positive effect on investment management on diversification and yield enhancement sides.
Tax incentive is optional but highly important element of taxation, used in order to achieve different goals. On the one hand, tax incentives form tax expenditures and thus reduce budget revenue; on the other hand, they influence behavior of persons and businesses and may have positive or negative social and economic effect. This article analyzes the incentives of personal taxation in Lithuania and their social, economic and fiscal impact. The study was conducted using the method of descriptive and factor analysis. The results revealed economic impact of tax incentives applicable in Lithuania.