Revista Tinerilor Economiºti (The Young Economists Journal)

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COMPARATIVE ANALYSIS CONCERNING THE FIELD DISTRIBUTION OF THE COMPANIES WITH LIABILITIES TO THE STATE BUDGET IN 2010 18 Daniela Ciotină Ph. D Student University “Alexandru Ioan Cuza” Iaşi Faculty of Economics and Business Administration Iaşi, Romania Cristina-Ionela Fădur Ph. D Student University “Alexandru Ioan Cuza” Iaşi Faculty of Economics and Business Administration Iaşi, Romania Abstract: The purpose of this study is to conduct a comparative analysis regarding the field distribution of Romanian companies that have liabilities to the state budget at the end of 2010. In our approach, we have studied all the companies with debts to the state of the category of large companies in Romania. The database comprises 558 large companies, involved in the following activity fields: agriculture, processing industry, electricity and heat production and supply, gas, hot water and air conditioning, water distribution, sanitation, waste management, decontamination activities, civil engineering, commerce, transport and storage, brokerage, and insurance. We can notice an increase in the residual amounts owed to the state budget in comparison to the year 2009, as well as an increase in the number of indebted companies. The largest amount of liabilities comes from the value-added tax, interests and penalties, each having a different share depending on the activity field. JEL classification: G38, M38 Key words: budgetary overdue debts, liabilities, large companies, descriptive analysis, state budget. 1. Introduction This material aims to be a warning signal that records the disastrous economic balance of the year 2010, as well as a imperative claim to commute from Sein’s field to Sollen’s field as regards to the value-added tax reimbursement to the righteous firms. The business environment is characterized by economic and legislative instability, as well as uncertainty and disbelief. The financial and economic crisis has led to the increase of debtor companies, but also to a rise of the liabilities to the state budget. The budgetary arrears analysis is the first step towards the embracement of 18 Acknowledgments: This work was supported by the the European Social Fund in Romania, under the responsibility of the Managing Authority for the Sectoral Operational Programme for Human Resources Development 2007-2013 [grant POSDRU/CPP 107/DMI 1.5/S/78342]. 35
efficient measures that would stop the economic fall. At the same time, although The Fiscal Council strongly recommends the expedient payment of the arrears owed to the private business environment, even with priority to other expenses, the practice proves the contrary. 2. Research Methodology The purpose of this study is to conduct an analysis through dynamics and structure of the state liabilities of large companies registered at the end of 2010. For the population description, we have determined the indicators for the central bias, the dispersion and the distribution of the analyzed variables. Following this research, we wish to obtain data regarding the structure of state liabilities of large Romanian firms, from different activity fields. In our approach, we have studied all the Romanian firms with state liabilities that are included in the category of large companies. Thus, we have included in our study 588 large companies, from the following fields: agriculture, manufacture, production, and the delivery of electricity and thermal energy, gas, hot water and air condition, water distribution, sanitation, waste management, decontamination activities, civil engineering, commerce, transport and storage, financial brokerage, and insurances. From the initial list published by the National Agency for Fiscal Administration, we have eliminated 54 large companies, from other activity fields. The database contains information regarding the state budget liabilities from previous years, the ones from the current year, the structure of these liabilities at 12/31/2010, as well as the condition of the analyzed firms at the end of 2010 (there are adjustment claims in settlement, the repo procedure is in course, and the company is under special administration, according to the 137/2002 law). The debts to the state budget include: the income tax, the value-added tax, the wage tax, duties and other taxes, interests and penalties. 3. The research results The results of the dynamics analysis of the liabilities to the state budget may represent the basis of the evaluation of the efficiency of the governmental measures for countering the effects of the economic crisis. In order to recover the overdue debts, the fiscal administration bodies may apply all the collection methods provided in the Fiscal Procedure Code, namely: payment calls, account attachments, third party revenue attachments, distraint on personal and immovable goods, or attracting the combined accountability of the administrators, associates, and shareholders. However, the companies entitled to request VAT reimbursement are forced to wait for excessively long amounts of time, the payment terms being overdue by months in a row. Hence, considering that companies that have to pay the VAT for every issued invoice, although undrawn, plus delay interests, but cannot force the state to reimburse the VAT, their liquidity, as well as the premise for the continuity of their activity become blind spots. According to a study conducted by The National Forecast Commission, the residual payments in Romanian economy have frozen, after 2001, at around 60 billion lei, with a highest peak in 2003, when the debts reached a total of 63.5 billion lei, and a lowest peak in 2006, with 53.1 billion Lei. 2008 was the year with the most pronounced increase of the overdue debts (by approximately 22% compared to 2007). Thus, at the end of 2008, the overdue debts have reached the value of 70.4 billion lei, compared to 57.8 billion lei at the end of 2007. 36
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Page 5 and 6: What is happened when the rules are
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ISSN 1583-9982
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