Abstract:

In a borderless world governed by the mobility of production factors, especially of capital and work force, and characterized by the common markets, taxation/fiscal policy represents a key component of the economic reform and will have a profound impact upon the future of the global economy. For the European Union that still wishes to be seen as an unitary state/force the complex taxation processes are leaving deep marks upon the business environment development. The OECD countries might not aim the complex coordination processes that define the European Union, but the taxation processes are not without effect upon the business environment development in OECD member states, either. This paper aims to present a detailed overview of the indirect taxation systems – focusing upon the value added tax and excises - at both European and worldwide levels and underlines the dynamics and complexity of the taxation process that affect the business environment development. Furthermore, the paper will highlight the impact that the financial crisis had had and still has upon the taxation systems – by highlighting the tax rate changes in the last 7 years.