Notes

Financial Law - Wikipedia, The Free Encyclopedia

Financial law is the branch of public law whose objective is the sector of the legal system that regulates the constitution and management of the Public Treasury; that is, real estate investment in nueva andalucia financial activity. [1] By financial activity is understood the activity aimed at obtaining income and making expenses, with which to be able to subsidize the satisfaction of certain collective needs (ie public services).

The financial activity of the State generates a set of legal relationships between the different public bodies. This financial activity of the State generates legal relationships between the State and individuals, and occurs in two situations: the first in which the State assumes an active role, for example when collecting taxes, and a passive role when it becomes a debtor in case of a loan.

1 Object 1.1 Income4.1 Income 4.2 Expenses

5.1 The Constitution: Its consideration as a legal norm 5. 2 International Treaties. 5.3 Sources of Community law in financial matters. (EU law)

Object [edit]Financial law deals with ordering the financial activity of public administrations (Public Finance) according to its double aspect: income -whose most important legal institute is the tax- and expenditure -whose most important legal institute is the budget-.

The concept of public income includes taxes (taxes, fees and special contributions), income from patrimonial assets (such as administrative assets, public domain and patrimonial assets), the products of public debt operations (capital borrowed by public entities), and the income that comes from fiscal monopolies (currently the national lottery and tobacco are).

The concept of public spending basically comprises the spending program that is approved by law from year to year (State budget), and the State's obligations.

Income [edit]For its part, tax law is the set of rules that regulate the establishment and application of taxes. As can be seen, it studies a group of public income, taxes, and does not enter the field of regulations governing public expenditures. Its purpose is to seek control and efficiency in the collection of income through the legal figure of the tribute.

Financial property law or public property law. The proper object of public patrimonial law is the patrimonial resource, that is, the structure and management of public patrimony aimed at obtaining income. On the basis of this, the public patrimonial law is configured around three thematic nuclei:

1. Management of publicly owned assets. 2. Management of publicly owned companies. 3. Participation of public entities in privately owned companies.
Within the scope of public ownership, two large categories of assets are included:

- The so-called deminial goods or public domain. - The so-called patrimonial assets.
Along with them there are specific regimes of public property, such as public property, mining property, forest patrimony and the national patrimony of any State.

Financial activity [edit]Financial activity is an activity carried out by public entities and its purpose is to obtain income and make expenses with which to face the needs of the social community, needs that fundamentally pass through the pillars that contribute to social progress: public education, public health... It is the activity that the State carries out to collect and manage the money that is invested in the fulfillment of its purposes and financial support of its organs, said activity is of primary importance within the modern state because it is through it that it is carried out the activities that allow the administration and distribution of money which will fulfill its purposes.

Delimitation of financial law [edit]There are two types of rules:

1. Rules of Private Law: they regulate the relationships between individuals, whether they are individuals or legal entities. two. Public Law Norms: regulate relationships in which one of the parties is a public entity. The Administration does not usually act as an individual but rather has privileges or prerogatives.
Financial Law is a branch of Public Law that organizes the economic resources of the State Treasury and other administrative bodies and regulates the procedures for obtaining and receiving income and organizing the expenditure that such Public Administrations dedicate to their purposes (needs of the society).

Financial Law, a branch of public law, is a set of legal norms that deals with ordering public income and expenditures.

This leads us to argue that Financial Law deals with two aspects:1. Expenses 2. Income
Income [edit]

Financial Law regulates the different income that accrues and is destined to the coffers of public entities. Which are?

Tax revenues: Known as taxes, they are the most important both qualitatively and quantitatively. They were the subject of a prolific study by various authors, which gave rise to their great importance and that today this branch of law is called Financial and Tax Law.

Credit income: These are those obtained by a public entity through credit (at first it is computed as income but later it will be an expense because it will become a debt).

Patrimonial income: The State, due to its condition of property owner, obtains income through its transfer to third parties.

Fines and financial penalties:O well

Expenses [edit]For the satisfaction of the needs of society.

It deals with public expenditures in which it affects the formal procedures that regulate the allocation, disbursement and control in the use of public resources.

There are 3 major important phases:The allocation: Synonymous with programming: the authorities (rather political, Parliament, CA) program public spending. This forecast is established in a document: the budget, which specifies how much we are going to spend and what we are going to spend it on. This document has legal effects as it has the nature of law and that is why it speaks of the General State Budget Law. At the Local level (Plenary) it will be a regulation.

Disbursement: (execution) It is the spending phase.Control: In this phase, the control of public funds is carried out, that is, the execution of spending is controlled. That is why it is said that "we control what was spent." Although there are two types of controls:

- Simultaneous control: carried out at the time of expenditure, it is the most effective because it prevents subsequent and adverse effects - Later control.
This part of Financial Law is called Budgetary Law.

The Constitution: Its consideration as a legal norm [edit]At the top (according to Kelsen) the Constitution is placed. The rest of the internal norms are located below the Magna Carta due to the hierarchy principle attributed to the Constitution.

It is an immediate normative value in terms of rights, since it can be invoked before the Courts of Justice in defense of the rights of those who attend. That is, it contains legal norms attributing rights and obligations to citizens (the most relevant obligation is taxes). It is invocable by both the Administration and the citizens.

Also noteworthy are the judgments of the Constitutional Court, this body (which issues authentic interpretation of the Constitution) which is not properly a judicial body.

At the top is not the Constitutional Court, but the Supreme Court, but each has certain powers. The Supreme Court, for example, cannot issue an interpretation on the constitutionality of norms of the rank of law.

The rulings of the Constitutional Court have the virtue of declaring whether a norm with legal status conforms or not to the Constitution, either in the entire norm or in a part of it. If it is not adjusted, it issues a declaration of unconstitutionality and that norm is expelled from the legal system with important consequences (almost equivalent to a null declaration of full right) that is, it is as if the norm had not existed and therefore there was no produced in no after effect. For example, a citizen pays taxes under a law that is later declared unconstitutional; therefore, all procedures are null and void and in principle the amount paid in taxes must be returned.

These judgments that declare the unconstitutionality of the law are sources in a negative sense, that is, they expel the norms of the legal system and instead of creating law, they exterminate law.

To close this section, the legal effectiveness of some principles of the Constitution is not limited to their appreciation by the Constitutional Court, such as those of financial justice Art. 31.1 CE.

Example: If an ordinary judge doubts whether a rule of legal rank is unconstitutional, he paralyzes the process and issues a question of unconstitutionality before the Constitutional Court.

If it is before a community rule, you have to go to the Luxembourg Court.If this happens with a regulation, it does not need to raise any question of unconstitutionality, since it has sufficient competence to not apply the regulation (or any other infra-legal rule) and will have to declare the infra-legal rule unconstitutional.

As for the sources, they can be both internal law and international law (primacy over internal Dº) which can be: international treaties and community law (EU law).

The International Treaties. [Edit]International Treaties are agreements signed between two or more states that regulate agreements that bind the states parties. They can be bilateral or multilateral.

The international double taxation agreements (generally international) CDI, regulate the payment of taxes to two states that charge the same tax to the same taxpayer. This arises because there are two states, the taxpayer's state of residence and a second state of the taxpayer's source of wealth.

Example: A resident in Ourense owns an apartment in Germany and rents it to a German tenant. He has a source of income in Germany but lives in Ourense. Germany wants to collect the tax and Spain also wants to be the taxpayer's tax residence. This is solved with a CDI that decides who will collect the tax.

In recent times, they have another purpose outside of double taxation, which is the exchange of information between countries to fight against tax fraud.

There are some areas and certain states that do not want to sign these CDIs, that is, they are low-tax and very opaque states since they do not transmit information to other countries, this is what we call tax havens. That were of great importance.

Sources of Community law in financial matters. (EU law) [edit]The law of the European Union should be highlighted, in which the Lisbon Treaty must be highlighted. Now it is no longer necessary to speak of Community Law but of EU Law.

The EU was created after World War II. First it was called CECA (European Coal and Steel Community) then EURATOM, then EEC and finally with the Lisbon Treaty it was called EU. The Parliament is in Strasbourg and the Government and the Commission in Brussels.

Directives are legal rules that are directly binding on the outcome. Many are taxes harmonized by the EU through a directive.

Portal: Right. Content related to Law. Economic law
References [edit]- Shapovalov, Mikhail a., International financial law: history, current status and development prospects, in Dikaion, 24-1 (2015), 171-195.
^ Juan, Martín Queralt (2013). "Concept and content of financial law". Course on financial and tax law (24th ed. Rev. And updated edition). Technos. p. 31. ISBN 9788430958955. OCLC 861662746.
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