Academic literature on the topic 'Non-fiscal purposes'
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Journal articles on the topic "Non-fiscal purposes"
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Fernandes, Costa, and Paulo Mota. "The roots of the Eurozone sovereign debt crisis: PIGS vs non-PIGS." Panoeconomicus 58, no. 5 (2011): 631–49. http://dx.doi.org/10.2298/pan1105631f.
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The main purposes of this paper are twofold: a) to determine if there are significant differences on the determinants of public expenditures and tax revenues between the so-called PIGS and the remaining Eurozone member states; b) to uncover possible explanations for the different situations in which these countries find themselves nowadays. The paper focus on the effects of the cyclical state of the economy on those fiscal variables, and on the actual adherence to the fiscal rules imposed by the Maastricht Treaty. Based on the estimated results we conclude that the anti-cyclical reaction with respect to the unemployment rate is much stronger among non-PIGS. We also find that fiscal rules have, in general, not been followed by those two groups of countries. Moreover, PIGS, in spite of their economic frailties, have tried to emulate the fiscal behavior of their more prosperous Eurozone partners instead of executing more rigorous policies.
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Bethlendi, András, and Csaba Lentner. "Subnational Fiscal Consolidation: The Hungarian Path from Crisis to Fiscal Sustainability in Light of International Experiences." Sustainability 10, no. 9 (August 21, 2018): 2978. http://dx.doi.org/10.3390/su10092978.
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The purpose of this study is to broaden the literature on the factors that contribute to the over-indebtedness of the subnational sector and the related crisis management tools based on the experience of Hungary. In addition to the phenomena known from the literature (vertical imbalance, the fiscal tightening of the central government, the weakness of central control and transparency, and local government-owned companies), non-standard factors also contributed to the evolution of a subnational fiscal crisis in Hungary. The Hungarian municipalities had, in practice, built up a carry trade position for speculative purposes, mostly from Swiss Franc funding. The other relevant observation based on experience is that, when significant amounts of central development funds fail to form a carefully considered development policy, over the long term they could undermine local fiscal stability. In addition to extraordinary fiscal transfer and full assignment of debts, the Hungarian subnational fiscal consolidation also involved a novel technique: the obligations were transferred to the state through the assumption of duties. In Hungary, in line with international experiences, central financial assistance was accompanied by increased fiscal control and by a tightening of the requirements for budgetary transparency and data reporting. Central approval for the assumption of new debts became an important element of fiscal sustainability. In addition to the above, this study argues that in political, social, and legal terms, credible no-bailout regimes do not offer an optimum solution for the subnational sector.
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Folloni, André, and Renata Brindaroli Zelinski. "ENVIRONMENTALLY ORIENTED TAX LAW AND THE BRAZILIAN TAX SPECIES." Veredas do Direito: Direito Ambiental e Desenvolvimento Sustentável 13, no. 25 (May 10, 2016): 93–109. http://dx.doi.org/10.18623/rvd.v13i25.571.
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The theme of this paper is environmental taxation in Brazil and, more specifically, the function of tax in regard to environmental protection – taxation on fiscal and non-fiscal purposes –, as well as the possibilities and limits of the environmental use of tax species referred to in the Brazilian Constitution. The objectives are, on the one hand, to demonstrate that taxes can be created with an environmental orientation, and, on the other hand, to expose doctrinal divergences and convergences concerning the modalities of environmental taxation regarding its use in the different kinds of Brazilian tax, especially tax and contribution to intervene in the economic domain. The article uses bibliographic and legislation research as a method to show the reader the existence of agreements and disagreements among some of the authors who approach the subject. It concludes that, except for the divergence related to tax, the doctrine allows for the use of the several Brazilian tax species to contribute to environmental preservation.
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Prawesti, Puspita Ayuningtyas, and Bambang Supriyono. "Infrastructural Development and Poverty Alleviation in Indonesia (Municipal Panel Data 2002 – 2013)." GATR Journal of Business and Economics Review 2, no. 4 (December 7, 2017): 51–62. http://dx.doi.org/10.35609/jber.2017.2.4(8).
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Objective - This study attempts to provide comprehensive findings on the impact of several kinds of infrastructural developments and government budgets on specific purposes, as well as agricultural and non-agricultural productions, on poverty alleviation in Indonesia between 2002-2013. Methodology/Technique - This study uses macroeconomic data at a municipal level to provide more precise findings when comparing provincial and national level data. The study uses an adaptation of the theory of international development. Findings - This research shows that electricity and sanitation are more effective at eradicating poverty than water infrastructure. In addition, household access to infrastructure is more effective in combatting poverty than the government budget for infrastructure development. The study also performs correlation matrices, dividing the data into the western and eastern parts of Indonesia, to provide more robust findings. Agricultural production is more effective in the western part of Indonesia, yet non-agricultural production is more relevant towards poverty reduction in the eastern part of Indonesia. Novelty - This study yields some empirical results and conclusions for economic development in Indonesia, finding that the key problem lies in the effectiveness of budget arrangement within the framework of fiscal decentralization. Type of Paper: Empirical. Keywords: Infrastructure Development; Fiscal Decentralization; Government Expenditure; Poverty Rate; Poverty Reduction. JEL Classification: H54, P30, P36.
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Carlson, Geoffrey. "Argentina – Measures Relating to Trade in Goods and Services (Argentina–Financial Services), DS453." World Trade Review 15, no. 4 (September 19, 2016): 706–8. http://dx.doi.org/10.1017/s1474745616000343.
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This dispute concerned eight financial, taxation, foreign exchange, and registration measures imposed by Argentina, mostly on services and service suppliers from countries that do not exchange information with Argentina for the purposes of fiscal transparency (non-cooperative countries). In particular, these measures concerned: withholding tax on payments of interest or remuneration (measure 1); presumption of unjustified increase in wealth (measure 2); transaction valuation based on transfer prices (measure 3); payment received rule for the allocation of expenditure (measure 4); requirements relating to reinsurance services (measure 5); requirements for access to the Argentine capital market (measure 6); requirements for the registration of branches (measure 7); and foreign exchange authorization requirement (measure 8).
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Ping, Yew Chiew. "Explaining Land Use Change in a Guangdong County: The Supply Side of the Story." China Quarterly 207 (September 2011): 626–48. http://dx.doi.org/10.1017/s0305741011000683.
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AbstractThe conversion of land to non-agricultural use in China has often been attributed to the demand for land arising from urbanization, that is, a growing urban population and the shift from agricultural to industrial activity. With a focus on Sihui 四会, a county in Guangdong, this study explains land use conversion from an alternative perspective: by looking at the supply of agricultural land for conversion and what determines this supply. It gives precedence to the role of the central actors in the process – local officials – and suggests that the extent to which agricultural land is converted for non-agricultural purposes is determined by an array of structural and agential factors, including the fiscal and land resources at the disposal of local officials, the incentive structure and macro-processes which influence their decision.
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Băbălau, Anişoara, and Adriana Ionescu. "Rules of Taxing Property Buildings." Applied Mechanics and Materials 880 (March 2018): 377–82. http://dx.doi.org/10.4028/www.scientific.net/amm.880.377.
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An Integral Part of the Economic and Financial Mechanism, Taxation Means, on the One Hand, the Collection of Resources to the State Budget, but Also a Legal Relationship between a Debtor and a Creditor, Including their Correlation Rights and Obligations. the Determinants of Budgetary Revenues Refer to the Subjects of Taxation, the Object of Taxation, the Unit of Taxation, the Tax Rate, the Rights and Obligations of the Debtors, their Liability, as well as the Payment Terms. Building Tax is an Annual Tax due to the Local Budget of the Administrative-Territorial Units in which the Building is Located by its Owners. Therefore, Subjects of Taxation are those who Own a Building Located on the Territory of Romania, with Certain Exceptions Regulated by the Fiscal Code. for Residential Buildings and Annex Buildings owned by Individuals, the Building Tax is Calculated by Applying a Rate between 0.08% and 0.2% on the Taxable Value of the Building. for Non-Residential Buildings owned by Individuals, the Tax is Calculated by Applying a Rate between 0.2% and 1.3% on the Taxable Amount of the Building. for Mixed-Purpose Buildings Owned by Individuals, the Tax is Calculated by Adding Together the Tax Calculated for the Area Used for Residential Purposes with the Tax Determined for the Area Used for Non-Residential Purposes. for Residential Buildings Owned or Held by Legal Entities, the Tax or the Building Tax is Calculated by Applying a Rate between 0.08% and 0.2% on the Taxable Value of the Buildings; and for Non-Residential Buildings the Tax or Tax on Buildings is Calculated by Applying a Rate between 0.2% and 1.3% Inclusive of the Taxable Value of the Building.
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Jiao, Changquan. "From the tax-sharing system to the program system: Institutional evolution and organizational mechanism." Chinese Journal of Sociology 7, no. 2 (April 2021): 280–312. http://dx.doi.org/10.1177/2057150x211007962.
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Soon after implementing reforms to the tax-sharing system, the People’s Republic of China (PRC) implemented public budgeting reform, and thus formed a new kind of state governance system, the program system (PS). There are three categories of program expenditures available to local governments: “earmarked grants” from higher-level authorities; “non-grant program funds” from higher-level authorities; and program funds from same-level government departments. The convergence and reorganization of these three categories of program expenditure at the local level has, to a great extent, molded the fiscal structure of grassroots government in the PRC. The PS in essence does not mean discarding or surpassing the bureaucratic state system, rather, it is the active improvement and supplementing of the bureaucratic system by the state: a continuation and development of state regime construction. The overt purpose of the PS is to “solidify” budgetary constraints, while the underlying purpose is to enhance the government’s ability to respond to society. The two purposes present some tension in practice, as the rationalized and professionalized forms of governance that result do not necessarily enhance the ability to respond to public needs; in fact the reverse is quite possible.
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MASSAWE, Hanifa T. "Regulation of Property Tax in Tanzania: Legal and Administrative Challenges." KAS African Law Study Library - Librairie Africaine d’Etudes Juridiques 7, no. 3 (2020): 424–38. http://dx.doi.org/10.5771/2363-6262-2020-3-424.
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Property tax represents one among the most feasible, conventional, steady and progressive source of revenue. Nonetheless this form of tax has not received the attention it requires for effective contribution towards revenue generation in developing countries. The situation is however different in developed countries which have made concerted efforts to tap the potentials of property tax to achieve both fiscal and non-fiscal advantages for their communities. While taking this into account the current article conceptualizes the basic principles underlying property taxation as one among the forms of direct taxation while underscoring its value to revenue generation in general perspective. Thereafter specific analysis is made towards its practical regulation in a Tanzanian standpoint in terms of specific laws and regulatory machineries in the country. The analysis revolves around the effectiveness of the existing tax laws and regulatory machineries in ensuring optimum contribution by property tax to the country’s revenue basket. On the basis of doctrinal and empirical data it is revealed that despite its potential to contribute to revenue generation, property tax still faces a number of both legal and non- legal challenges in its administration in the country. The legal challenges include poor legal definition on the concept of property, the flat rate structure on property tax, low deterrence effect of the penal sanctions. The non-legal challenges on the other hand include low registration of property owners and properties for identification purposes, irregular valuation process, low taxpayer education on property tax affecting voluntary property tax compliance and lacking resources for property tax administration by the respective regulatory machineries. As a way to remedy the situation the paper provides a number of legal and non-legal intervention measures. The intervention measures take account of the importance of taxation for developing countries Tanzania inclusive, thus recommending solutions which reasonably combine regulatory convenience with equity and effectiveness. The recommendations are an output of theoretical data, empirical findings and specific international best practices on property taxation. The recommendations focus on legal clarification of the tax base, the method and basis for valuation and provision of required resources for enforcement of relevant laws on property taxation.
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Mgoqi, Wallace. "The Work of the Legal Resources Centre in South Africa in the Area of Human Rights Promotion and Protection." Journal of African Law 36, no. 1 (1992): 1–10. http://dx.doi.org/10.1017/s0021855300009682.
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The Legal Resources Centre (LRC) is a non-profit-making law centre. Its aims are to encourage belief in the value of law as an instrument of justice and to give practical effect to this goal by providing legal and educational services in the public interest. It is controlled and funded by the Legal Resources Trust (LRT) which is a South African charitable and educational trust registered under the Fundraising Act. It is supported by development agencies, corporations, charitable foundations and concerned individuals. The trustees include judges, senior advocates and attorneys. For the fiscal year April 1990 to March 1991 the trustees of the LRT approved a budget of R8.5 million for the work of the LRC's offices.The LRC was established after nation-wide consultations on the desirability of a legal resources centre produced positive feedback from a wide range of constituencies, and it became operational at the beginning of 1979. It seeks to fulfil the following purposes:(a) To provide legal representation for litigants in any court of law, tribunal or body before whom a party may be represented by counsel or attorney.(b) To conduct a programme in legal education and conduct seminars of educational value.(c) To engage in research in legal areas including all matters relevant to the effective administration of justice.(d) To publish the results of any research undertaken by it, and any material relevant to its objects.
Dissertations / Theses on the topic "Non-fiscal purposes"
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Santos, João Victor Guedes. "Teoria da tributação e tributação da renda nos mercados finaneiro e de capitais: entre a equidade e a eficiência; entre a capacidade contributiva e a indução." Universidade de São Paulo, 2012. http://www.teses.usp.br/teses/disponiveis/2/2133/tde-20032013-140006/.
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Este estudo tem por objetivo analisar e reconstruir os fundamentos da Teoria da Tributação e do Direito Tributário que regem a incidência do Imposto de Renda sobre operações conduzidas nos mercados financeiro e de capitais. Examinam-se, num primeiro momento, os preceitos norteadores da eqüidade, eficiência (nos seus dois vieses de neutralidade e desenvolvimento), simplicidade e conveniência, verificando-se em que medida o ordenamento jurídico-tributário posto está em consonância com a Teoria da Tributação. Na seara da Teoria da Tributação, destaque é dado ao trade-off (ou dilema) entre eficiência e eqüidade relativo à tributação da renda auferida nos mercados. Em momento subseqüente, analisam-se as regras constitucionais e complementares que moldam a incidência do Imposto de Renda e a maneira pela qual princípios e mandamentos constitucionais, concernentes à seara tributária ou não, atuam em relação à tributação da renda obtida nos mercados financeiro e de capitais. Nessa toada, papel de relevo possui a relação conflituosa existente entre o mandamento da tributação conforme a capacidade contributiva e a possibilidade de instituição de normas tributárias indutoras visando a objetivos extrafiscais.This paper aims at analyzing and reconstructing the fundamentals of the Taxation Theory and of the Tax Law that guide the assessment of the Income Tax on transactions carried out within the financial and capital markets. At a first moment, we examine the guiding precepts of equity, efficiency (in its two aspects of neutrality and development), simplicity and convenience, then verifying in what measure the legislation in force is adequate in light of the Taxation Theory. In the field of the Taxation Theory, we highlight the trade-off between efficiency and equity in relation to the taxation of the income obtained in the markets. Afterwards, we analyze the constitutional and complementary rules that shape the assessment of the Income Tax and the manner by which tax and non-tax constitutional principles and guidelines act as regards the taxation of the income obtained within the financial and capital markets. In this sense, a paramount role shall be attributed to the conflictive relation between the ability-to-pay rule and the possibility of enacting tax norms aiming at non-fiscal purposes.
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Carvalho, Cassius Vinicius de. "A extrafiscalidade e os seus reflexos para a atividade empresarial e para o poder Público na perspectiva do setor automotivo." reponame:Repositório Institucional do FGV, 2018. http://hdl.handle.net/10438/22058.
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A presente pesquisa propõe-se a contribuir com o estudo prático da extrafiscalidade no Direito Tributário brasileiro, com foco nas medidas extrafiscais adotadas pelo Poder Público no âmbito do setor automotivo, para o período compreendido de 2009 a outubro de 2017. Mais especificamente, o objetivo da pesquisa está adstrito à análise quanto ao nível de efetividade das normas preponderantemente extrafiscais, que suportaram a desoneração do IPI para o setor automotivo no período em exame. Inicialmente, buscou-se compreender o instituto, a partir do histórico das teorias de intervenção do Estado na perspectiva da extrafiscalidade para, a partir daí percorrerem-se os seus contornos jurídico-tributários, espécies, instrumentos de controle e abordagem no direito comparado. Subsequentemente, foi estudada, a importância do setor automotivo para o desenvolvimento econômico brasileiro, desde o início do século passado, para, por fim, analisarem-se os reflexos e o nível de efetividade das normas preponderantemente extrafiscais no bojo da pesquisa. A relevância do tema e a hipótese de pesquisa comprovaram-se no decorrer do texto, com a conclusão de que as normas preponderantemente extrafiscais não surtiram, em sua totalidade, para o caso em análise, os reflexos almejados pelo Poder Público – e igualmente esperados pelo contribuinte.
The purpose of the present research is to contribute to the practical study of the non-fiscal purpose tax law from a Brazilian tax perspective, with focus on the non-fiscal purpose tax laws that were introduced by the Public Sector in the context of the automotive segment, for the period from 2009 until October, 2017. More specifically, the objective of the research is restricted to the analysis of the level of effectiveness of the non-fiscal purpose tax laws that supported the decrease of the IPI in the automotive sector, for the period under analysis. Initially, the non-fiscal purpose tax law institute was comprehended with the support of the historic of the economic theories of intervention, and, as from this point on, the institute was studied in the context of its legal-tax aspects, types, instruments of control and approach in the comparative law. Subsequently, the research was centralized in the study of the relevance of the automotive sector in the development of the Brazilian economy, since the beginning of the last century. Finally, the reflexes and the level of the effectiveness of the non-fiscal purpose tax laws in the context of the automotive sector were evaluated. The relevance of the theme and the hypothesis of research were proved along the text, with the conclusion that the non-fiscal purpose tax laws did not reach, in its totality, for the case under analysis, the effects desired by the Public Sector - and expected by the taxpayers.
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LIN, HUI-PING, and 林惠萍. "Study on the Effects to the Market of Taxes’ Non-Fiscal Purpose— A Case Study of the House-Land Combination Tax." Thesis, 2016. http://ndltd.ncl.edu.tw/handle/599f6d.
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碩士東吳大學
企業管理學系
104
Tax is one of the major sources of government revenue. The government imposes taxes to generate state revenue and pay for the requisite expenditures. However, tax is often granted for policy considerations. Thus, the tax levied is also for the purpose of enacting social and economic policy. In recent years the real estate market prices have quickly rocketed in Taiwan especially in the metropolitan area. Ratio of housing price to income has hit record highs which causing people pay greater attention to the problem of housing. In fact, housing prices are influenced by four factors: the dimensions of supply and demand, institution, capital, as well as taxes. In the dimension of taxes, an underestimation of the real estate taxation system resulted in excessive funds flowing into the real estate market. Therefore, due to the growing pressure on the part of the public, Taiwan’s Central Government is trying to keep down the price levels of the domestic real estate market from rising further, and also proposed the new property income tax: “House-Land Combination Tax” in 2015. The purpose of this study is to investigate the real estate transaction income tax system in Taiwan, especially the House-Land Combination Tax, which affects the real estate market. This study adopted a literature review and in-depth interview methodology on examining the reform of the taxation system. Professionals who have practical experience and relevant experts in the industry were visited and interviewed. In this study, we posit that the main purpose of the House-Land Combination Tax on building and land is to rectify the sound and a transparent real estate tax anomaly, as the real estate capital gains tax is chronically a low tax burden rate. The secondary purpose of the House-Land Combination Tax is to carry out social and economic policy. In summary, to solve the problems in the housing market, it is necessary to proceed from the fundamental underlying problems rather than only rely on the tax system to provide the required solutions.
Books on the topic "Non-fiscal purposes"
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Saunders, Cheryl. How Federations Responded to Covid-19. International Institute for Democracy and Electoral Assistance and the Constitution Transformation Network, 2021. http://dx.doi.org/10.31752/idea.2021.78.
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Countries with a federal form of government responded in distinctive ways to the health and economic crises caused by the Covid-19 pandemic. Constitutional INSIGHTS No.7 explores what can be learned from this experience about the purposes, design and operation of federations, including for the division and allocation of powers and fiscal resources; collaboration and cooperation between levels of government; and the challenges of democratic accountability. It builds on an earlier brief on Implementing Federalism (Constitutional INSIGHTS No.2) that examines some of these issues in a non-Covid context.
Book chapters on the topic "Non-fiscal purposes"
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"Decentring US sports diplomacy: the 1980 Moscow boycott through contemporary Asian–African perspectives*." In Sport and diplomacy, edited by Joseph Eaton, 203–22. Manchester University Press, 2018. http://dx.doi.org/10.7228/manchester/9781526131058.003.0012.
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The chapter reevaluates the 1980 boycott of the Moscow summer games, challenging the conventional wisdom that that boycott was a failure. Historians of sport and diplomacy have usually studied the 1980 boycott through the strained efforts of US President Jimmy Carter’s Administration’s clumsy struggles to rally NATO allies, Australia, and traditional Olympic sporting powers into not going to Moscow in retaliation for the December 1979 Soviet invasion of Afghanistan. In fact, American sports diplomacy might be judged differently when seen from the perspectives of non-Western and non-sporting nations, particularly in Africa and Asia. Using media and governmental primary sources from a variety of nations. More precisely, engagement in the boycott suited nationalistic purpose as perceived in 1980. “Carter’s boycott” was effectively localized/nationalized, if outside Carter’s stated aim of making the Soviets pay a price for their aggression in Afghanistan. Rather than reading the 1980 boycott through the lens of the Soviet invasion and the beginnings of the Second Cold War, contemporary non-Western perspectives on the boycott showed a wide breath of positive interpretations/results from Olympic nonparticipation– ranging from public display of governmental fiscal austerity by corrupt regimes, to support for a growing pan-Islamic movement, to enforcing authoritarian rule at home.
Conference papers on the topic "Non-fiscal purposes"
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Davydenko, Nadiia, Svitlana Boiko, Alina Вuriak, and Inna Demianenko. "Development of rural areas through fiscal decentralization." In 22nd International Scientific Conference. “Economic Science for Rural Development 2021”. Latvia University of Life Sciences and Technologies. Faculty of Economics and Social Development, 2021. http://dx.doi.org/10.22616/esrd.2021.55.010.
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The ratification of the European Charter of Local Self-Government and the adoption of the Concept of the Reform of Local Self-Government and the Territorial Organization of Power in Ukraine in April, 2014 laid the groundwork for the approval of fiscal decentralization and the creation of fiscal frameworks for the development of rural areas. One of the defining conditions of fiscal decentralization is the provision of the local government with financial resources in an amount sufficient to perform their tasks for development of rural areas. Therefore, the purpose of the article is to study the peculiarities of rural development of Ukraine in terms of fiscal decentralization, identify the main problems, and present an argument for the directions towards enhancing the positive impact of fiscal decentralization on the social and economic development of rural areas. The methodological basis of the article is general scientific and special methods of research, in particular: economic and statistical; analysis and synthesis; tabular and graphical. The conducted research has made it possible to establish that the implementation of fiscal decentralization has resulted in greater interest of village council in increasing revenues to local budgets by transferring the right to receive more tax revenues and non-tax revenues, finding contingency local budgets, improving the efficiency of tax administration and fees. The study gives grounds for proposing approaches to increase the effectiveness of fiscal decentralization in the context of rural development, including expanding of the list of taxes and fees in budget revenues of united territorial community (e.g. corporate income tax, personal income tax, environmental tax); improving the mechanism for providing local budgets with inter-budget transfers from the State Budget of Ukraine; optimization of budget expenditures under the condition that a guaranteed and affordable level of public services is provided; increasing the accountability of local governments in order to prevent corruption; involvement of the population in active participation in development policy of rural areas.
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Noveski, Martin, Nina Mojsova Kjoseva, and Sasho Kjosev. "GOVERNMENT INDEBTEDNESS AND ECONOMIC GROWTH IN THE REPUBLIC OF NORTH MACEDONIA." In Economic and Business Trends Shaping the Future. Ss Cyril and Methodius University, Faculty of Economics-Skopje, 2020. http://dx.doi.org/10.47063/ebtsf.2020.0001.
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Government consumption plays an important role for stability of the national economy, especially in periods of economic crisis. However, rapidly growing public debt is a concerning issue nowadays, since it might jeopardize economic growth perspectives. Economic theory suggests that public debt has non-linear impact on economic growth in a form of inverted U-shape. In other words, it is believed that after a certain threshold, public debt will have negative impact on economic growth. Given that such threshold varies significantly across countries, the aim of this paper is to calculate the turning point of the public debt impact in the Republic of North Macedonia. For this purpose, we use non-linear multiple regression model for real GDP growth rate as dependent variable, general government public debt-to-GDP ratio (in nominal and squared terms) as key independent variable, as well as several other controlling variables. Since theory also suggests reverse causality between economic growth and public debt, we use three different estimation techniques (Ordinary Least Squares, Two-Stages Least Squares, and Generalized Method of Moments) to deal with potential endogeneity, as well as to cross-validate the results. Our results show that general government debt in the Republic of North Macedonia positively affects economic growth until it reaches around 30% of GDP, whereas further indebtedness after that turning point will most likely have negative impact. Given that current debt level is slightly above 40% (10 percentage points higher than the turning point), whereby due to the COVID-19 crisis it is expected to grow even more in the upcoming years, the need of urgent fiscal consolidation inevitably arises. In this regards, deeper and more comprehensive analysis is needed in order to identify adequate channels for its efficient and effective implementation.