commission on fiscal imbalance 合集

5 150872 2095533 120152 2149344 186601 2255339 156605

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Unformatted text preview: ernment attributes the transfers monthly in 1/12 instalments, starting in the first month of the budget year, although it only collects later in the year VAT and personal income tax revenues. Between the time when the State pays this money to the federated entities and the time when it actually collects the revenues, the recipient entities pay the State interest (section 54 of the special financing act). The financial impact differs depending on whether the personal income tax transfer or the VAT transfer is concerned since personal income tax revenues are collected monthly through payroll deduction while most revenue from VAT is collected quarterly. The interest payable is thus higher in the case of the VAT transfer. See the section on the Saint-Éloi agreement. This expression refers to components that are not part of the transitional phase of the special financing act, covering the years 1989 to 1999. This does not in any way mean, as this study proves, that they are actually permanent. In the case of personal income tax revenues collected in the Brussels area, the traditional 20/80 allocative key is used to determine the Flemish and French-speaking communities’ shares. Commission on Fiscal Imbalance income tax revenues, which explains its name and engenders the financial consequences indicated in the footnote number 5. The personal income tax transfer accounts for between 24% and 29% of the communities’ financial resources in 1998. A shared tax is a tax collected by one level of government, a fixed percentage of which is refunded to another level of government. This is true of the communities’ second source of financing, since revenues from the radio-television fee, collected by the federal government, are refunded to the communities depending on their location. Revenues collected within the Brussels-Capital region have a special status.9 The federal government refunded 100% of the revenues. TABLE 2.1 SOURCES OF FINANCING OF THE COMMUNITIES, 1991 TO 1998 (in millions of BEF) 1991 French-speaking community VAT transfer Personal income tax transfer Radio-TV fee Funding for foreign students Other TOTAL 1992 1993 1994 1995 1996 1997 1998 137105.9 37526.1 139380.4 39258.9 140983.2 44107.0 146865.3 46 408.4 148291.2 48568.7 148032.3 49602.0 153367.2 52691.2 153812.3 55946.2 5618.8 1290.4 7782.4 1322.4 8031.6 1344.3 8259.9 1385.6 8605.0 1408.4 9090.0 1409.0 9150.8 1467.4 9694.7 1470.6 1546.1 183087.3 3852.4 191596.5 15087.2 209553.3 12015.2 214934.4 18660.1 225533.9 15660.5 223793.8 13611.8 230288.4 12961.7 233885.5 Flemish community VAT transfer 177882.7 182734.2 185792.8 193294.8 198028.9 198276.5 205214.6 207267.6 Personal income 49046.3 53727.7 63734.2 69398.8 75477.7 79661.7 88936.7 95487.5 tax transfer Radio-TV fee 9455.3 9790.0 17669.5 14625.5 15283.0 15632.7 16526.5 17232.8 Funding for foreign 318.9 330.7 333.7 345.7 354.3 356.4 364.9 369 students Other* ? ? ? ? ? ? ? ? Source: Bayenet et al. (2000). * It is impossible to distinguish the “other” revenues of the Flemish community since they are included in the total of the “other” revenues of the merged region and community. 10 The last of the main sources of the communities’ financing was government funding in respect of foreign students, through wh...
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This note was uploaded on 03/06/2013 for the course ECON 220 taught by Professor Paulo during the Spring '13 term at University of Liverpool.

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