The policy led by a large number of developing countries, with the aim of increasing indirect taxes, has opened the issue of Value Added Tax (VAT) efficiency. Reforms of tax systems of developing countries generally involve an increase in standard rates in order to increase VAT, which is the main source of public revenues. In such a way, developing countries determine the VAT efficiency and the amount of revenue that could be collected by indirect taxation. The article sums up works of different scientists, dealing with the impact of determinants on VAT efficiency. The subject of this paper is an analysis of the factors that influence the C efficiency ratio. The main objective of the paper is to analize the impact of the change in the standard rate on the ratio. Theoretical analyses of standard rates and other factors that have reflections on the VAT collection efficiency explicitly prove that there are different ways to improve the efficiency of VAT collection, and exclude an increase in the standard rate. An increase in the standard rate provides a balance of negative effects, which can be blurred by recorded tax revenues. We focused on the countries of the European Union: Bulgaria, Czech Republic, Estonia, Greece, Croatia, Latvia, Hungary, Poland, Romania, Slovakia, Slovenia, Lithuania during the 2000-2016 period. These countries experienced significant changes in government during economic transformation, and where VAT is the main source of public revenues. The last section analize an increse in VAT rate and C efficiency ratio in Serbia and conteins conclusions. The paper indicates the imperfection of inadequately defined VAT rates on economic growth and development in analized countries. Based on analyses we can conclude that the increase in the standard rate have negative reflections on the VAT efficiency, and that it was one of the factors of the continuous decline in C-efficiency.

The subject of the paper is assessment of the credit risk of small and medium-sized enterprises (SMEs) in the conditions of the COVID-19 crisis. The paper gives the overview of the theoretical and professional literature on the existing accounting standards related to the assessment of expected loss and banking regulations in terms of capital adequacy, as well as their applicability in the current crisis. Bearing in mind the share of SMEs in total gross domestic product and employment in emerging and developing markets, and dependence of these companies on bank funding, special attention is paid to the researches dealing with the impact of stress tests and an increase in capital requirements on credit supply. Since the paper was written at a time when the COVID-19 crisis was well under way, and the final effects could not be fully analysed, except for only certain projections, future researches will focus on the effectiveness of the existing credit risk assessment models in crisis conditions.

Finansijska kriza je negativno uticala na sve zemlje sveta u uslovima globalizacije sa različitim intezitetom, bez razlike da li se radi o višem ili nižem nivou razvijenosti i različitim privrednim strukturama. U uslovima globalizacije u zemljama u tranziciji izvršena je reforma bankarskog sistema i na taj način je započeto stvaranje novog finansijskog tržišta. MeĎunarodni monetarni fond uzeo je aktivno učešće u procesu tranzicije zemalja istočne Evrope pružanjem saveta i odobravanjem finansijskih aranžmana. Razvijene zemlje sveta su radi prevazilaženja svetske finansijske krize primenile mere nestandardne monetarne politike.Zemlje centralne i istočne Evrope su u odreĎenom delu pored opšteg korporativnog identiteta (naziv banke, skraćenog imena, zaštitnog znaka i slogana banke) primenjivale i kvalitativna obeležja korporativnog identiteta (imidž, reputacije i gudvila) banke. Ulaskom u 21. vek banke razvijenih zemalja sve više stavljaju naglasak na korporativnu kulturu i stil poslovanja banke. U praksi banaka najčešće su prisutne sledeće performanse: finansijske, marketing, menadžment performanse, performanse zaposlenih, poslovne filozofije, ugleda, reputacije i imidža banke. Analiza performansi banaka obuhvatila je 13 zemalja centralne i istočne Evrope podeljenih u tri grupe. Analizirane su performanse u vremenskom periodu od 2008-2018. godine koje se odnose na: učešće ukupne aktive u BDP-u, učešće ukupnih kredita u BDP-u, učešće ukupnog depozita u BDP-u i nivo adekvatnosti kapitala zemalja centralne i istočne Evrope. Analiza pokazuje da su dominantne banke zemalja centralne Evrope, a da se njima u odreĎenim performansama približavaju banke zemalja istočne Evrope (članice Evropske Unije i zapadnog Balkana).