Generolo Jono Žemaičio Lietuvos karo akademija

The improvement of public finances is an important issue for any country’s development. This content is changing public sector and sustainability of citizens environment; therefore, much attention is paid to the widespread improvement of financial research. In addition, activities may be organized in connection with applicable higher education programs. On the other hand, education in the field of financial management in different countries is interpreted differently. It has become increasingly important that such a discussion does not directly contribute to the overall development of financial education in recent years. One of the possible ways to handle personal finances in various economic conditions may be to change the attitude of students to the knowledge provided by universities. Young people should be supported by financial education included in their study programs. Proper management of these programs helps to improve the educational process and their economic situation. Ultimately, the best way to determine the tax paid by individuals and legal entities could be called their rate of tax burden. However, an ordinary citizen who lives only from the income related to labor relations and has a higher tax burden may be a more important problem.

Often taxation is considered as a restriction to any market development, lessening the willingness to effective actions or raising the opportunity costs. Therefore lots of investigations are dedicated to identification of optimal measures in order to satisfy the fiscal needs still encouraging market performance. The purpose of this paper is to identify the impact of capital income taxation on corporate bond market development by using the Laffer curve and tax burden measurements and methods. While theoretical investigations proposed an application of tax exempt to corporate bond transactions, empirical results stated no significant arguments for corporate bond market stagnation to taxation.

Understanding of the tax burden in public finance is probably an important issue for the each country’s growth. It affects the public sector and the development of the country’s and individual citizens’ lives. Therefore a significant focus on the general development of the public finance studies is obviously increasing. Moreover that process is organized in connection with the relevant higher education and research programs. On the other hand the finance management education are treated differently in different countries. In some countries, social scientists are still debating whether the public finance management can be seen as an important educational and scientific branch of study. That is becoming increasingly important provision that such a discussion does not directly benefit the common development of financial education in recent years. One of the possible ways to deal with personal finances in different economic conditions could be changing attitudes to finance knowledge among students in universities. The young people could be supported by financial education programs that are clearly incorporated into their underground or postgraduate courses. The correct management of these programs helps to improve student and cadets learning experience and the economic well-being. Moreover the learning based on the public administration and the public finance probably educate patriots of the country and people intolerant to non-transparent activities of public servants. Eventually the best ways to determine the country consolidated tax paid by natural and legal persons could be the tax burden rate. Besides the financial data supplied to the main European Statistics Authority – the Eurostat – by the national statistical institutions sometimes can be not very correct. Therefore even more important could be an issue that an ordinary country’s citizen who is living only from the income related to the labour relations (or corresponding relations of income) obviously has the much higher tax burden. Then we have an increase of the direct taxes burden by almost twice versus the official country’s tax burden. However the additional tax burden includes hidden taxes related to the aggregated spending of an employee’s income inside the EU. In that case the tax burden for an average employee could approach up to the two-thirds of the total (work-related) income. Then “the freedom from the taxes day” can be relocated to the second half of the year for the ordinary worker. This perception of the tax burden can encourage each citizen of the country to be responsible for the all public servant activities and for budget planning processes.