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Implementation of the new recommendations of IMTS 2010 and MSITS 2010 in Hungary Challenges

Hungarian Central Statistical Office Foreign Trade Statistics Department. Implementation of the new recommendations of IMTS 2010 and MSITS 2010 in Hungary Challenges. Anita Bány. Things to talk about. Hungary in the world trade Institutional arrangements What are the main challenges? IMTS

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Implementation of the new recommendations of IMTS 2010 and MSITS 2010 in Hungary Challenges

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  1. Hungarian Central Statistical Office Foreign Trade Statistics Department Implementation of the new recommendations of IMTS 2010 and MSITS 2010 in HungaryChallenges Anita Bány

  2. Things to talk about • Hungary in the world trade • Institutional arrangements • What are the main challenges? • IMTS • MSITS

  3. Hungary in the world trade • Share in total export • Annual growth rate • Concentration by products and partners • Role of multinational enterprises

  4. External trade, 1992 - 2009

  5. Commodity pattern of external trade, 1996-2009

  6. External trade by types of transactions 1996 – 2009

  7. Concentration by main traders

  8. Concentration by partners

  9. Institutional background • HCSO’s responsibility for the compilation of trade in goods and services statistics • Institutional arrangements • National Bank of Hungary • Tax Authority • Custom Authority • Financial Supervisory Authority (ITS/insurance services)

  10. Institutional arrangements: National Bank of Hungary, since 2002 • Goods: In 2003 payment data were replaced by data from the Custom Authority • Services: In 2005 switching from ITRS to direct reporting (quarterly data collection), • Annual working plan: • Schedule on the introduction of new recommendation of BPM6 • Consistent treatment of multinational enterprises • Joint forum in order to enforce the statistical needs with the Tax Authority • Register building of SPE’s

  11. Institutional arrangements: Tax Authority, since 2004 Use of tax data (VAT, VIES, corporate income tax): • Sample selection • Data validation • Consistency checks • Estimation (Intrastat/traders under the reporting threshold; ITS/construction in Hungary) • Data transmission - government services • Problems: • No consultation before any modifications on declarations, • Insufficient contact information of VAT registrations

  12. Institutional arrangements: Custom Authority, since 2003 • Goods:Individual data on trade with third countries according to the Single Administration Document (SAD) • Services:Custom revenues levied for the EU (25% due to Hungary) • Problems: Statistical requirements can not be fully attained (Custom simplifications)

  13. Overlapping issues IMTS, MSITS 2010 • Processing • Merchanting • Specific movements of goods Financial leasing – operational leasing

  14. Processing 1. Inward processing – processor is in country A, owner of the goods is in other country

  15. Processing 2. Outward processing – owner of the goods is in country A, processor is in other country

  16. Processing 3. FTS is incomplete: • ? Data sources: • FTS (country information on processing fee, one leg transactions) • ITS (CN) or both • ? Transaction codes • ? Evaluation of data (complex cases – multi-stage processing more resident companies, VAT registrations involved). • ? Backcasting of time series • ? Valuation problems (VAT registrations, high technology goods) • ? Adjustments for national accounts, BOP (holding gains and losses, overheads – inward processing) • ? Additional information: • SBS • VAT • Corporate income tax • Balance sheets

  17. Merchanting • Merchanting is collected on quarterly basis in ITS data collection • Better coverage in DR than in ITRS • Data sources: VAT, VIES • Definition in BPM6 (new element according to paragraph 10.48) • Adjustments for BOP, NA • ? new codes, data at CN level, monthly, quarterly data needs

  18. Specific movements of goods, financial leasing – operational leasing • Reconciliation exercises in intra EU trade (big discrepancies): • country A (producer of the ship/aircraft) records trade in goods exports with country B • country B (operator, lessee) records trade in services imports with country C (lessor) • What kind of transactions are recorded between country A and country C? • Harmonised guidlines are needed • Integrated approach: involvement of trade in goods, trade in services, BOP, national accounts • Exchange of information • Case studies (different leasing arrangements within a company)

  19. Main challenges, MSITS 2010 • The content of these services has changed a lot: • Charges for the use of intellectual property • Research and development services • Computer services • Audiovisual services • Difficult to interprete how to report • Data sources: • FTS • Capital account of BOP • Balance sheets • Information from the Patent Office • R&D data collection in HCSO • Problem: Services between affiliated enterprises (imports)

  20. Special Purpose Entities • The treatment of SPE’s is different in the statistics of countries • Proposal - Task Force dealing with the multinationals of GNI Committee of Eurostat • ? ITS, national accounts • Services that are traded (?) by these entities: • R&D • Royalties and licence fees • Operational leasing • Merchanting • Their basic activity is invoicing and the main purpose of their activity is tax reduction.

  21. Thank you for yourattention! anita.bany@ksh.hu

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