Revista Tinerilor Economiºti (The Young Economists Journal)

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Economic Theories – International Economic Relations comparative advantage in tourism sector. $2,500 $2,000 $1,500 $1,000 $500 $0 Albania B & H Croatia Kosovo FYR Mac. Montenegro Serbia Source:Author’s calculation Figure no. 2 FDI in USD per capita in the region Albania is ranked the third with USD 310 per capita. Regarding the business climate in the region’s countries, the Table no. 2 shows the ranks of each country in the region. FYR Macedonia holds the first place, ranked at 36 th , followed by Montenegro ranked at 66 th and Albania ranked at 82 nd . Table no. 2 “Doing business” indicators in the region Indicators Doing Business World Report 2011 Albania Bosnia & Herz. Easy of doing business 82 110 84 119 38 66 89 Starting business 45 160 56 163 5 51 83 Dealing with con. permits 170 139 132 173 136 161 176 Registering property 72 103 110 65 69 116 100 Getting credit 15 65 65 32 46 32 15 Protecting investors 15 93 132 173 20 28 74 Paying taxes 149 127 42 41 33 139 138 Trading across borders 75 71 98 130 66 34 74 Enforcing contracts 89 124 47 155 65 135 94 Closing business 183 73 89 31 116 47 86 Source:”Doing Business in 2011” World Bank report „Starting business” - Business registration reforms in FYR Macedonia made it one of the easiest places to start a business today. In 2006 the business registration is changed from e juridical one to an administrative one. The publication requirement in an official newspaper was replaced with the automatic registration in website register. 129 Croatia Kosovo Macedonia, FYR Montenegro Serbia
Revista Tinerilor Economişti (The Young Economists Journal) The number of new companies is increased. Therefore, the necessary time to start a business in Macedonia is three days, while in Albania it is 5 days. Both these countries are included in the ten countries with the fastest procedures. But in 2010 Croatia and Montenegro are improved the most. Kosovo made more difficult by replacing the tax number previously required with a fiscal number which take longer to issue and requires the tax administration to first inspect the business permits. „Dealing with construction permits” - Croatia has improved the most in dealing with construction permits, approving a new building code. It replaced the location permit and project design confirmation with a single certificate simplifying and speeding up the construction permitting process. Although the Eastern Europe was the region with the most reforms regarding the construction permits in the last years, all the countries in the region are still ranked at the end, regarding the required procedures, time and the minimum capital as well. The dealing with construction permits is more difficult in Serbia, which rank is 176. Kosovo and FYR Macedonia hold the first places regarding to the „Dealing with construction permits” indicator. „Registering property” - FYR Macedonia cut the time to register property by 40 days: as result twice as many properties were sold in 2009 as in 2007, despite the financial crises. „Getting credit” - Good practices supporting access to credit have been followed by Serbia (allowing out of court enforcement), Bosnia & Herzegovina and Montenegro (maintaining an unified register), and Albania (distributing data on loans below 1 percent of income per capita). These countries have improved their secured transactions system during last years. Serbia’s volume transactions increased by 4346 in 2005, to 24,059 in 2009, while Albanian’s rose from 4105 in 2005 to 9860 in 2007. „Protecting investors” - Albania has adopted new legislation. It is ranked among the first countries regarding the extent of director liability index. (It is nine from the maximum of ten.) Most economies that strengthened investor protection did so as part of wider corporate governance programs, as Albania and FYR Macedonia. A Deutsche Bank Study of the Standard and Poor’s 500 shows that the companies with strong and improved corporate governance system exceeds those with poor ones by 19 percent within a time period of two years. Regarding the extent of disclosure index, Croatia is one the of the countries with the lowest index (The Croatia’s disclosure index is one from a range 0-10). „Paying taxes” - The most part of the region has simplified tax payment during the last years: FYR Macedonia in 2008, Albania and Montenegro in 2009. FYR Macedonia has the lowest tax rate in the region 10,6 percent. It has reduced the corporate profit tax for undistributed profits from ten to zero percent. It has simplified tax compliance process. It is ranked the fifth in the lowest tax rate list of the world. Bosnia & Herzegovina and Montenegro have merged the taxes other than profit tax. FYR Macedonia and Montenegro have simplified the tax compliance process, while Albania has established the electronic tax system. „Trading across borders” - Among the countries which have improved the most in trading across borders, Montenegro is ranked the forth. But it holds the first place among the region’s countries. It has reduced the number of the required trade documents. Montenegro’s custom administration simplified trade by eliminating the requirement to present a terminal handing receipt for exporting and importing of goods. „Enforcing contracts” - Kosovo is ranked the last regarding the reforms made in the judiciary system. It is one of the countries which require most procedures (The 130
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Revista Tinerilor Economiºti Journ
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REVISTA TINERILOR ECONOMIŞTI ISSN
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What is happened when the rules are
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THE IMPORTANCE OF COMMUNICATION IN
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RECENT DEVELOPMENTS IN THE EU TAXAT
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At the end of the 1990-2000 decade,
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Regarding the tax burden related to
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Indirect taxes are defined as the s
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Source: Tax revenue in the European
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EVALUATION OF MANAGEMENT PERFORMANC
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cash flow statement may also be use
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epaying loans or reducing registere
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operating activity and partially fr
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FINANCIAL REPORTING IN PUBLIC INSTI
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Considering the leading role played
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Thus, public institutions prepare t
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� Financial reporting is a repres
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COMPARATIVE ANALYSIS CONCERNING THE
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In 2010, the number of large compan
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In order to compare the average val
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Figure no. 11 The structure of the
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Finances - Accounting THE APPROACH
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Finances - Accounting this guarante
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Finances - Accounting budget, provi
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Finances - Accounting 3. * * * Regu
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Management - Marketing - Tourism 2.
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Management - Marketing - Tourism 3.
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ASPECTS REGARDING THE MARKETING ENV
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ISSN 1583-9982
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Revista Tinerilor Economiºti (The Young Economists Journal)

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