Generolo Jono Žemaičio Lietuvos karo akademija

Europe demands that its people be culturally and intellectually equipped in the ways that are suitable for their present and future. Only in this way they will be able to live meaningful lives in person and together. Higher education institutions play a key role in developing appropriate strategies as they are responsible for preparing their students for viable development of career and citizenship. Universities and other higher education institutions are increasingly realizing that their movement is a moving target and their leadership in the field of knowledge and understanding development and transfer means a new sensitivity to a society change. They are increasingly consulting their customers. Education inspires societal progress, but at the same time, it must respond with discernment to society by developing appropriate strategies for future study programs.

Revenues from public finances and taxes are very important conditions for the country‘s economic policy. No state can exist without taxes, so taxes are one of the most important components of a state’s fiscal policy, especially during a pandemic. Of course, it is especially important to collect enough tax revenue in the event of an emergency in the country. This is exactly the situation with a pandemic, especially in the case of the COVID19 virus development in 2020-2021. Taxes are the main source of revenue for the national budget, and redistribution accounts for government spending. Because the government does not create real products or services, the implementation of various state functions requires enormous resources. Taxes are therefore a really important and significant source of public finance revenue. The research problem may be a different tax burden in Lithuania during the pandemics. In addition, individual tax receipts and personal tax metrics may vary. The topic of the publication is the aspect of general and personal tax burden in Lithuania during the pandemic situation. The aim of this publication is to present the concept of individualized tax burden in modern times and restructural movements of the public finances. The main research methods used are: analysis of tax revenues in the scientific literature, data collection and systematization, comparative statistical data analysis, presentation of data, proportional analysis.

The sustainability of national finances is certainly an important issue for a country’s development. These aggregate perceptions change the public sector of the nation and the safety of citizens’ lives. Therefore, a significant focus on broadly improving financial research can be a significant issue. In addition, this activity may be organized in connection with applicable higher education programs. On the other hand, the understanding of financial management of governments in different countries are treated differently. This is becoming an increasingly important condition that broadly discussion does not directly benefit the overall development of financial education in recent years. One of the possible ways to deal with personal finances in various economic conditions may be a change in the attitude towards knowledge financing among top management in universities. Young people can be supported by financial education programs that are clearly included in their underground or postgraduate courses. A proper management of education programs can help improve student learning experiences and economic well-being. In addition, training based on transparent public administration reliably fosters patriots of the country and people’s intolerance for non-transparent activities of public servants. Another important task of the paper is to show how the management of public debt and government spending can affect the sustainability of fiscal policy. In addition, this document also attempts to clarify questions about the economic importance of financial education at all levels of education. This concept of tax burden can encourage every citizen to be responsible for the activities of government employees and for the transparency of the budget planning process. Improving government revenues is indeed a complicated procedure. Because the same concept of taxes is used as in fixed costs for the public sector, when a person does not directly receive anything but additional payments for most public sector services. Thus, the confusion of economical terms is fairly constant, that again demonstrates a need for public finance literacy in all finance areas. Definitely it is a serious programme for scientists. One of the problems is regarding a realization of the country’s tax burden. The official average tax burden is usually more than thirty percent from the Lithuania’s nominal gross domestic product in recent years. On the other hand an average tax burden for a private person is usually more than forty percent of the average nominal labour related income. Nevertheless, political leaders and experts suggest the need to increase the accumulated tax burden in Lithuania. However, there may be a fundamental error in the fact that social insurance contributions and compulsory medical insurance contributions to funds are not counted in the tax burden of individuals and legal entities. Fortunately, last year’s budget already considers social benefits as part of tax revenues. Unfortunately, in the continuity of the fiscal policy of Lithuania in the XXI century there is a small number of signs. Public finance and taxes are the very essential issue of the country’s economic policy. Without a taxation any state cannot exist, therefore taxes are one of the utmost important component of state’s fiscal policies. Taxes are the main source of a revenue for the national budget and when redistributed it generates the public expenditure. Because the government does not create a factual product the implementation of various functions of the state requires immense funds. Therefore, taxes are really important and significant source of the public finance revenue. Moreover, a problem could be the contrasting taxation inequality in Lithuania and in some other EU countries. Therefore, the equality of a tax burden can be an indicator for the public finance sustainability. The object of the publication is analysis of a possible taxation injustice in Lithuania. The aim of the publication is to imply a conception of a tax difference margin in the present-day’s public finance. The main research methods that were used include scientific literature and public finance analysis, data collection and systematization, comparative statistical data analysis, graphical data representation, proportional analysis.

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.

The paper aims at distinguishing the assumptions and component parts of financial system sustainability formation. Partly, sustainability of financial system can be expressed through the functions of financial system. Three financial subsystems are distinguished in the research: public finance, business finance and personal finance. The sustainable and efficient operation of each subsystem contributes to the sustainability of financial system as a whole. Also, sustainability of each of the subsystem can be measured by different indicators. In order to determine the strength of impact of various financial functions to the financial system such indicators as capital investments into financial and insurance activities, financial and insurance activities’ value added, as well as value of production and purchase of goods and services by the financial companies is analysed. Finally, the scheme of financial system sustainability is presented. The key conclusion of the research states that the synergistic effect of sustainable development of three fields of finance influences the sustainable development of the whole financial system and even can spread its impact beyond the limits of financial system.