By Amedeo Fossati, Giorgio Panella
To what quantity may still neighborhood and local governments within the ecu Union be allowed to figure out their very own financial guidelines? This publication explores the center problems with economic federalism within the eu context. It combines theoretical and empirical research in addressing such questions as: what kind of monetary federalism is suitable within the ecu neighborhood, what are the hazards of extra centralization, and what are the prices of better decentralization.
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Additional resources for Fiscal Federalism in the European Union
The case of separate tax systems, under which the local authority or intermediate government determines the rate and base of the income tax, does not exist in the A COMPARATIVE VIEW OF LOCAL FINANCES IN EU COUNTRIES 35 EU: in Europe it is only present in Switzerland. g. Italy with ILOR; Germany with Gewerbesteuer (however, see below)). The tax base is usually determined by central governments, although in most federal countries outside Europe intermediate levels of government can determine both the base and the rate; • the recent adoption of the dual income tax by some Nordic countries, whereby part of profits are taxed at the basic rate applied to income from capital, has certainly decreased the revenues of local governments wherever a revenuesharing arrangement existed in the field of corporate tax receipts.
Belgium Very little can be said, except that taxes and fees have increased faster than the other sources of revenue. Denmark Exhibits a moderate decrease of the incidence of subcentral expenditure on GDP (from 35 to 34 per cent), and at the same time an increase of the relative weight of taxation within the financing items. Non-taxes and, especially, grants have decreased (in relative terms). ) has decreased to 72 billion ECU in 1993. However, local expenditure and revenues have decreased by far smaller amounts, so that their incidence on GDP has gone up by almost 10 percentage points, to 30 per cent!
As a remedy, in many cases certain annual percentage adjustments have been introduced. According to the OECD sources, the incidence of local property taxation on the GDP of EU countries in 1994 ranged from approx. 5 per cent to approx. 0 per cent with an average of 1 per cent. At the same time its incidence within the tax revenue of local or intermediate budgets could be either very low (see Germany, Austria, with 5–20 per cent) or practically all-absorbing (Ireland, United Kingdom, with 95–100 per cent).
Fiscal Federalism in the European Union by Amedeo Fossati, Giorgio Panella