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  THE EUROZONE YIELD CURVE SHAPE DURING COVID19: A PROJECTION OF INVESTMENT AND MACROECONOMIC EXPECTATIONS

  The aim of this article is to provide a substantiated explanation of the shape of the yield curve in relation to the current theoretical reasoning and empirical data regarding the macroeconomic situation and the bond market. The object of research is the yield curve of government securities compounded from the average yields of AAA-rated ... The aim of this article is to provide a substantiated explanation of the shape of the yield curve in relation to the current theoretical reasoning and empirical data regarding the macroeconomic situation and the bond market. The object of research is the yield curve of government securities compounded from the average yields of AAA-rated government securities issued by euro area member states. The first part of the article presents the underlying literature and the theoretical foundations of the research hypotheses as well as the research methodology used. The second part addresses the spot and the forward yield curves in March 2021. The third part presents various empirical data and analyses the development of the bond market during the crisis caused by the COVID-19 pandemic.

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  THE FINANCIAL TRANSPARENCY OF BULGARIA�S MUNICIPALITIES WITHIN THE EUROPEAN ECONOMIC DIGITALIZATION

  Digitalization is among the main priorities of the EU set in the Europe 2030 strategy; Bulgaria and Bulgaria�s municipalities are direct participants in this process. The global COVID-19 pandemic at the beginning of 2020 positively reflects the process of digitalization including the public sector and local self-government as the effects of it are ... Digitalization is among the main priorities of the EU set in the Europe 2030 strategy; Bulgaria and Bulgaria�s municipalities are direct participants in this process. The global COVID-19 pandemic at the beginning of 2020 positively reflects the process of digitalization including the public sector and local self-government as the effects of it are of varying intensity. The research ascertains that the process of adjustment of the financial and budget transparency of the municipalities to modern digital solutions has resulted in a significant difference in the implementation of the concept of European economic digitalization among the various administrative units in the country. This requires the improvement of the process of digitalization which is of utmost significance for the private sector; it also necessitates taking efficient measures for the formation of favorable business environment; citizens shall also be taken into account with a view of facilitating them in performing their administrative duties.

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  PERMANENT ESTABLISHMENT AND FIXED ESTABLISHMENT IN THE CONTEXT OF THE SUBSIDIARY AND THE DIGITAL ECONOMY

  The purpose of this paper is to present some challenges regarding the concepts �permanent establishment� (PE) and �fixed establishment� (FE) in the context of the subsidiary and the digital economy. These issues are some of the most discussed topics in the field of international and European tax law, which determines their relevance and growing ... The purpose of this paper is to present some challenges regarding the concepts �permanent establishment� (PE) and �fixed establishment� (FE) in the context of the subsidiary and the digital economy. These issues are some of the most discussed topics in the field of international and European tax law, which determines their relevance and growing research and practical interest.