Dataset of Italian municipalities' income taxes from 2007-2011.
problem Understanding the economic structure of Italian municipalities.
method Annual aggregated income taxes of all Italian municipalities, clustered by regions and provinces.
result Data useful for economic comparisons and understanding municipal structures.
Data science reveals unexpected tax manipulation patterns in Italian regions.
problem Detecting tax income manipulation in Italian municipalities.
method Adopting Benford's first digit law to analyze tax data.
result Marked disparities found in tax distributions across regions, contrary to expectations.
Paper uses 2-step Gradient Boosting to predict VAT tax gap.
problem Estimating tax evasion and revenue loss from tax avoidance.
method 2-steps Gradient Boosting model to correct selection bias.
result Significantly improved prediction of VAT tax gap.
The yearly aggregated tax income data of all, more than 8000, Italian municipalities are analyzed for a period of five years, from 2007 to 2011, to search for conformity or not with Benford's law, a counter-intuitive phenomenon observed in large tabulated data where the occurrence of numbers having smaller initial digi…
BERTino is a lightweight Italian DistilBERT model for NLP tasks.
problem High computational and memory demands of large language models.
method Developed a DistilBERT model tailored for Italian language.
result F1 scores comparable to BERTBASE with significant speed improvements.
LLMs can identify tax strategies, potentially revolutionizing tax enforcement.
problem Detecting and analyzing U.S. tax-minimization strategies.
method Evaluated advanced LLMs on interpreting, verifying, and generating tax strategies.
result Identified a novel tax strategy, showing LLMs' potential in tax enforcement.
Flow taxes and stock taxes preserve portfolio neutrality under specific conditions.
problem Analyzing the impact of different types of taxes on portfolio choice.
method Extending the neutrality result to a full system of ownership taxes, showing how each tax modifies the drift of the wealth process.
result The combined system of taxes preserves portfolio neutrality under three conditions, and the drift-shift symmetry generalizes to a drift-shift-and-rescale symmetry.
Unified treatment of two tax models showing their equivalence.
problem Representing loss-carry-forward taxation on insurance company capital.
method Introduced latent and natural tax processes, showing their equivalence and solving the natural tax process's existence and uniqueness.
result Unified treatment of tax processes, translating results from one model to the other.
Proposes a fix for IRS calculation of Obamacare tax credits.
problem IRS iteration leads to divergent sequences for some self-employed taxpayers.
method Introduces a bisection procedure to calculate premium tax credits.
result Bisection procedure works for simple tax returns and those receiving credits in advance.
Model shows IRS procedure for health insurance tax credits can diverge, proposing a new bisection method.
problem IRS procedure for calculating health insurance tax credits diverges for some self-employed taxpayers.
method Proposed a bisection procedure to calculate appropriate premium tax credits for tax returns.
result The bisection procedure can calculate appropriate premium tax credits for a model of simple tax returns.
Paper proposes trading strategies considering stock taxes for better returns.
problem Trading strategies without tax consideration can lead to significant loss.
method Used deep reinforcement learning to learn optimal trading strategies with and without taxes.
result Tax ignorance can cause more than 62% loss in average portfolio returns.
Germany's tax admin costs likely exceed 20% of total revenue, requiring system improvement.
problem High tax administrative costs in Germany and other jurisdictions.
method Statistical data, surveys, and a novel approach to measure total administrative cost as a percentage of total tax revenue.
result Germany's 2021 tax administrative costs likely exceeded 20% of total tax revenue.
Model shows who pays higher taxes affects wealth distribution.
problem Determining who should pay higher taxes to prevent wealth concentration.
method Dynamic agent model with random wealth multiplicative process and linear tax rate.
result Tax rate structure affects long-term wealth distribution.
Research analyzes Georgia's tax system and suggests improvements.
problem Improving tax revenues in Georgia's state budget.
method Analysis of past and present tax systems, review of influencing factors, comparison of foreign models.
result Stimulating measures can increase tax revenues for Georgia's state budget.
Study Italian sovereign bonds pricing using multi-factor models.
problem Empirical analysis of multi-factor models for Italian sovereign bonds.
method Calibration of Cox-Ingersoll-Ross and Vasicek models using Kalman filter and maximum likelihood estimation.
result Optimization algorithms improve term structure fitting over 12 years, including financial crises.
Study finds tax avoidance and IT issues hinder revenue in Gombe state.
problem Problems of personal income tax on revenue generation in Gombe state.
method Survey with primary and secondary data, chi square test.
result Tax avoidance and IT issues are major problems.
I explain the root of persistent failure of efforts to remove tax-induced distortions of economic incentives. It lies in FUNDAMENTAL IMPOSSIBILITY of objectively evaluating tax base. Distortions can be entirely avoided in the sector of publicly traded corporations. Evaluation can be bypassed by taxing it in shares (to …
The Tobin tax is an often discussed method to tame speculation and get a source of income. The discussion is especially heated when the financial markets are in crisis. In this article we refer to foreign exchange markets. The Tobin tax should be a small international tax affecting all currency transactions and thus co…
Word2Vec embedding for Italian language developed.
problem Lack of word embedding for Italian language.
method Parameter tuning of Word2Vec for Italian language.
result An embedding for Italian language created.
Develops a method to optimize tax codes with practical constraints.
problem Translating optimal taxation theory into practical tax codes.
method Constrained optimization framework for piecewise linear tax functions.
result Generates reforms that meet theoretical and practical constraints.
Study identifies vulnerable jurisdictions in tax networks to prevent treaty abuse.
problem Unexpected tax results due to global economic integration.
method Produced weighted graphs, computed centralities, and detected communities based on withholding tax rates.
result Identified jurisdictions likely to be used for treaty shopping and detected community structures.
AI-driven tax policies improve economic equality and productivity.
problem Lack of appropriate economic data and limited opportunity to experiment.
method Two-level deep reinforcement learning approach to learn dynamic tax policies from observational data.
result AI-driven tax policies improve the trade-off between equality and productivity by 16%.
The global financial crisis, beginning in 2008, took an historic toll on national economies around the world. Following equity market crashes, unemployment rates rose significantly in many countries: Italy was among those. What will be the impact of such large shocks on Italian healthcare finances? An empirical model f…
Study risk-minimizing insurance investments with taxes and expenses.
problem Determining optimal insurance investments in the presence of taxes and expenses.
method Introduced tax- and expense-modified risk-minimization, derived strategies, linked to decompositions, and established equivalence to artificial market approach.
result Equivalence to artificial market approach and consistency with classic risk-minimization.
Extends wealth tax neutrality framework to stochastic volatility and non-homothetic preferences.
problem Ensuring wealth taxes are neutral under various economic conditions.
method Extended Frøseth's neutrality framework to stochastic volatility and non-homothetic preferences, identified four channels of non-neutrality, and applied the framework to global minimum wealth taxes.
result Non-uniform assessment, general equilibrium effects, progressive thresholds, and endogenous labour supply can cause non-neutrality under CRRA preferences.
We develop a model of tax evasion based on the Ising model. We augment the model using an appropriate enforcement mechanism that may allow policy makers to curb tax evasion. With a certain probability tax evaders are subject to an audit. If they get caught they behave honestly for a certain number of periods. Simulatin…
This paper combines and develops the models in Lastrapes (2002) and Mankiw & Weil (1989), which enables us to analyze the effects of interest rate and population growth shocks on housing price in one integrated framework. Based on this model, we carry out policy simulations to examine whether the housing (stock or flow…
This article describes and explores taxes and debt in finance. Here a situation is thought about, where tax payments would qualify to be considered as debt. Using this principle we can infer that it is possible to create and price a type of bond (Tax Normalization Guarantee) for companies, which would allow them to ent…
Tool detects tax evasion on social media using multi-modal deep learning.
problem Detecting tax evasion on social media platforms.
method Developed a multi-modal deep neural network combining comments, hashtags, and images.
result Multi-modal deep neural network achieved AUC of 0.808 and F1 score of 0.762.
Wealth redistribution through Fokker-Planck equation controls preserves Gini coefficient.
problem Preserving Gini coefficient through proportional wealth tax.
method Formulating optimal redistribution as a control problem for Fokker-Planck equation.
result Progressive taxes redistribute within policy-relevant timescales.
Optimizes tax payments for insurance companies using Lévy risk processes.
problem Maximizing expected accumulated discounted tax payments with a modified objective function.
method Loss-carry-forward tax system applied to spectrally negative Lévy processes until general draw-down time.
result Optimal tax return function and strategy derived.
One of the main issues affecting the Italian NHS is the healthcare deficit: according to current agreements between the Italian State and its Regions, public funding of regional NHS is now limited to the amount of regional deficit and is subject to previous assessment of strict adherence to constraint on regional healt…
We investigate an inhomogeneous Ising model in the context of tax evasion dynamics where different types of agents are parametrized via local temperatures and magnetic fields. In particular, we analyse the impact of backauditing and endogenously determined penalty rates on tax compliance. Both features contribute to a …
Wealth tax equivalent to government stake, affecting returns and portfolio choice.
problem Effect of proportional wealth tax on asset returns and portfolio choice.
method Analyzes the economic equivalence and multiplicative separability of wealth tax, deriving four main results.
result The coefficient of variation of wealth is invariant to the tax rate, and optimal portfolio weights are independent of the tax rate.
This paper investigates - on the basis of the Cont-Bouchaud model - whether a Tobin tax can stabilize foreign exchange markets. Compared to earlier studies, this paper explicitly recognizes that a transaction tax-induced reduction in market depth may increase the price responsiveness of a given order. We find that the …
Study on tax administration issues and their impact on Georgia's budget revenues.
problem Problems in revenue administration and tax rates in Georgia.
method Analyzed foreign experience and proposed a progressive tax system.
result A progressive tax system would benefit Georgia's business and economy.
Study predicts firm defaults using machine learning on Italian credit data.
problem Predicting firm defaults to inform bank lending policies.
method Used large granular credit data from Italian Central Credit Register, combined with public balance sheet data, and applied ensemble techniques and random forest models.
result Ensemble techniques and random forest provide the best results for predicting firm defaults.
Study fills the Italian pension gap with an optimal investment strategy.
problem Italian pension system reform gap between old and new pensions.
method Stochastic Optimal Control approach to fill the pension gap.
result It is possible to cover the pension gap with additional income from a pension scheme.
Tax effects on consumer behavior are ambiguous due to irrationality and limited willpower.
problem Ambiguity in tax effects on consumer behavior due to irrationality and limited willpower.
method Examined through behavioral and neuroeconomics, analyzing consumer behavior in real life.
result Tax effects on consumer behavior are ambiguous due to irrationality and limited willpower.
Model shows how social norms and individual ethics affect tax evasion.
problem Effects of social norms and individual ethics on tax evasion.
method Agent-based model with simulations of different tax compliance behaviors.
result Threshold levels in society composition explain tax evasion extent.
Paper forecasts tax revenues in Bulgaria during pandemic.
problem Forecasting tax revenues during pandemic.
method Model based on IMF recommendations, using 1995-2019 data.
result Pandemic negatively impacts tax revenues, but econometrics can still produce forecasts.
New approach to optimal income tax theory tackles inequity issues.
problem Optimal tax schedules often lead to minimal tax rates for higher earners, contradicting ethical practices.
method Developed a theorem for piecewise-linear environment and introduced a new utility function parameter.
result New approach leads to more equitable tax schedules, interpreting optimality criteria easily.
Study examines how taxes affect wealth inequality in economic models.
problem Reducing economic inequality in models of economic activity.
method Examined Artificial Chemistry models and various tax measures.
result Effective tax measures can reduce economic inequality.
This paper explains tax policy for crypto assets in a rapidly evolving tech landscape.
problem Rapid technological changes in crypto assets create regulatory and tax policy blind spots.
method Explains principles of crypto assets, their technology, and tax issues.
result Tax policies are lagging behind innovation in blockchain and crypto.
In this article we show that the payment flow of a linear tax on trading gains from a security with a semimartingale price process can be constructed for all càglàd and adapted trading strategies. It is characterized as the unique continuous extension of the tax payments for elementary strategies w.r.t. the convergence…
We analyze income tax evasion dynamics in a standard model of statistical mechanics, the Ising model of ferromagnetism. However, in contrast to previous research, we use an inhomogeneous multi-dimensional Ising model where the local degrees of freedom (agents) are subject to a specific social temperature and coupled to…
Short sales allow tax deferral by offsetting gains from ordinary sales.
problem Tax deferral opportunity in short sales not regulated in the Philippine tax system.
method Short selling to offset gains from ordinary sales of identical stocks.
result Tax deferral opportunity exists but is unregulated in the Philippine tax system.
We reformulate wealth taxation using Fokker-Planck equations to ensure tax neutrality.
problem Ensuring tax neutrality in wealth taxation frameworks.
method Reformulating the neutral wealth tax framework using stochastic dynamics and statistical physics, specifically Fokker-Planck equations.
result The framework clarifies when wealth taxation is a benign rescaling of dynamics and when it introduces new physics.