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The publication examines the growing popularity and implications of the Buy Now, Pay Later (BNPL) financial model in Poland and globally. It features expert analyses and discussions from a seminar held on March 14, 2024, including insights from key players like PayPo, PKO BP, and the Credit Information Bureau (BIK). The publication focuses on: BNPL Evolution and Success: Originating in Sweden, BNPL has transformed global online shopping, offering deferred payment options as an alternative to credit cards. Poland’s BNPL market, still in its infancy, shows rapid growth due to firms like PayPo, Twisto, and Allegro Pay. Comparison with Credit Cards: Unlike credit cards, BNPL offers simpler, targeted transactions that resonate with younger demographics and more women. It avoids the complexities and high fees associated with traditional credit cards, fostering higher adoption rates. Polish Market Dynamics: By the end of 2023, nearly 2 million Poles had used BNPL, representing 12% of active borrowers. PayPo leads the market with innovative features, while PKO BP introduces seamless banking integration for deferred payments. Challenges and Growth Potential: Despite its success, establishing a universal BNPL business model remains challenging. However, its consumer-centric approach signals continued growth, especially as it aligns with modern purchasing behaviors. The report provides a nuanced understanding of how BNPL reshapes financial landscapes, blending fintech innovation with traditional banking.

The aim of the study is to collect, map and share good practices, examples and success stories of investing in disaster resilience (including but not limited to in response to past disasters and the lessons learned from them) at local and regional level. The study focuses on collecting evidence on initiatives, good practice examples and measures taken by the NAT commission members to improve disaster resilience. The study will be built on interviews with NAT commission members based on a questionnaire. The study will also draw conclusions on the benefits of investing in disaster resilience and make some recommendations to local and regional authorities for moving forward based on the success stories collected from the members demonstrating that smart investment at local and regional level can make a difference in disaster risk reduction. The focus will be mainly, but not exclusively, on extreme weather events and climate-related disasters, given their growing frequency, intensity and impact. The study will contribute to knowledge sharing and exchange of good practices, by collecting and sharing success stories from and by members who have invested in reducing vulnerabilities and strengthening disaster resilience at local and regional level. As a repository of local and regional good practice examples, initiatives and measures relating to disaster preparedness and resilience, the aim of the study is also to feed into a bigger and longer-term project to map success stories of investing in disaster resilience on the ground.

The study’s primary objective is to collect and supply economic information from existing official economic and statistical databases, as well as to gather primary data from national authorities. The study will also conduct macroeconomic analysis for country-specific VAT compliance and policy gap estimations and the impact of the coronavirus pandemic. Moreover, the study will include up to five case studies on specific countries and/or topics, to be proposed by the contractor in their technical offer. Geographically, the study will cover all EU Member States, subject to quality checks for data reliability and robustness. This includes coverage of the United Kingdom during its time as an EU Member State. In addition, the study will test and implement, where possible, the inclusion of EU candidate countries and possible candidate countries, except for Türkiye. These countries include: • Albania, Montenegro, North Macedonia, and Serbia1 (candidate countries at the stage of accession negotiations); • Ukraine, Moldova, and Bosnia and Herzegovina (Candidate countries for which the Council has decided to open accession negotiations); • Georgia (candidate country); • Kosovo (potential candidate country). The study’s temporal scope will cover primarily a 6-year period, comprising: • a comprehensive review and revision of ‘full estimates’ for the first four years, i.e., for 2019-2022; • a new ‘full estimate’ for the fifth year, i.e., for 2023; • provisional ‘fast estimates’ for the sixth year based on simplified methodology for 2024. In addition to the 6-year coverage, the study will provide a historical context by reporting on VAT compliance gaps from 2000 onwards, and VAT policy gap estimates, including its components, from 2016 onwards. This will provide a comprehensive timeline of these indicators. The study will also include a review of the economic and policy context, also including an outlook beyond this 6-year period.

The study aims to provide further information regarding the uptake and economic consequences of introducing wealth-related taxes. The purpose of the study is to shed further light firstly into recurrent wealth related taxes by (i) reviewing the conditions for the implementation of a net wealth tax and its consequences, to provide a detailed literature review on recurrent capital taxes in the EU and analyse their economic consequences; and secondly (ii) to provide an overview of existing non-recurrent wealth related taxes, namely, by providing an overview of capital taxes, inheritance and gift taxes and the existing exit tax provisions in the field of personal income taxation (including relevant statutory references), and how these interrelate with and complement the legal framework of taxing net wealth and capital gains. The study builds on previous research work mapping wealth taxes and estimating the consequences of their introduction. It is structured along two parts comprised of two and three workstreams respectively, related to the topics outlined above. Part 1 – Recurrent taxation, Workstream 1 – Net wealth taxes Part 1 – Recurrent taxation, Workstream 2 – Capital taxes Part 2 – Non-recurrent taxation, Workstream 3 – Capital taxes Part 2 – Non-recurrent taxation, Workstream 4 – Inheritance and gift taxes Part 2 – Non-recurrent taxation, Workstream 5 – Exit taxes

This study shall provide input for the Impact assessment for a possible legislative proposal for the revision of the VAT exemption as laid down in the VAT Directive 2006/112/EC (1) and a possible legislative proposal for an EU taxation framework for the financial sector (2). The main purpose of this study is to provide an informed analysis of the potential problems arising from the current tax framework applicable to the financial sector in the EU (various sector-specific taxes and the VAT exemption) based on the analysis of the information already available and on the collection of relevant and more up-to-date evidence taking into account the current economic context, notably structural changes that are likely to persist over time, and specific features of the financial sector, notably, its regulatory and supervisory framework. On the basis of this analysis, the objective of the study is to provide insights supporting the potential development of options for an adequate EU taxation framework for the financial sector, which could include amending the current VAT Directive and establishing an EU taxation framework for the financial sector.

The publication is a comprehensive analysis by the Economic Policy Research Center (EPRC). It investigates the multifaceted effects of the Ukraine war on Georgia’s economic landscape, combining insights from historical developments, current vulnerabilities, and future prospects. Authored by Gigi Ormotsadze and Tedo Evgenidze, the report highlights the country’s integration into global systems, its dependency on external economic factors, and the challenges posed by political and economic shifts. The document explores key sectors such as trade, energy, and finance, and scrutinizes how inflows of migrants, financial assets, and geopolitical instability have created both opportunities and risks. It underscores the resilience Georgia has demonstrated in its recovery from crises like COVID-19 and the Russian invasion of Ukraine, while noting systemic weaknesses such as high debt levels, governance inefficiencies, and a reliance on external markets. The report closes with targeted policy recommendations aimed at mitigating vulnerabilities and fostering sustainable growth.

The report offers an extensive analysis of the value-added tax (VAT) compliance and policy gaps across the EU, reflecting trends between 2018 and 2022. It explores the discrepancy between the theoretical VAT Total Tax Liability (VTTL) and actual revenue collected, providing insights into compliance inefficiencies and policy-induced revenue losses.