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Dependence of VAT Revenues on Other Macroeconomic Indicators

In: New Trends in Finance and Accounting

Author

Listed:
  • Jana Morávková

    (University of Economics, Prague)

Abstract

The article concerns with the macroeconomic factors affecting VAT revenues in European countries. GDP, GDP per capita, households’ consumptions costs, consumptions costs, government’s consumption costs, export and the size of the shadow economy are used as the explanatory factors. First of all, we computed correlation coefficient by using yearly differences in order to avoid illusory correlation. We found out that in 13 countries, the VAT revenues are dependent on at least 4 out of 7 factors. Then, we performed multilinear regression thanks to which we were able to stipulate formula for estimation of VAT revenues. We did control the functionality of the formula by computing VAT revenues for 2014 which was not included in our primary calculation. Thanks to this, we could conclude that the formula worked and can be used for the estimation of VAT revenues in future years. The analysis works with Eurostat data on the size and development of shadow economy extended by Schneider (2015) .

Suggested Citation

  • Jana Morávková, 2017. "Dependence of VAT Revenues on Other Macroeconomic Indicators," Springer Proceedings in Business and Economics, in: David Procházka (ed.), New Trends in Finance and Accounting, chapter 0, pages 231-238, Springer.
    • Handle: RePEc:spr:prbchp:978-3-319-49559-0_21
    DOI: 10.1007/978-3-319-49559-0_21
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