And fourthly, it is important to expand the tax base.

Operating and support costsb Total non programme costs Grand total (computation base)

Most economists favor finding ways to broaden the tax base for example, by eliminating special deductions and privileges in order to keep marginal tax rates low. Broadening the income tax base is a central element of the highly regarded Simpson Bowles proposals for tax reform in the United States.

That had been accomplished by widening the tax base, improving administration efficiency, reducing corporate income tax, introducing a personal income tax of 10 per cent and keeping value added tax at 10 per cent.

And we want to shift the systems that open the doors for people who were formerly tax burdens to become part of the tax base.

In addition, private sector firms provide most of the tax base needed to fund public services.

This drop in revenues may be worsened by the amendments to the laws on free zones, value added tax and income tax adopted in 1997 and 1998, which together have eroded the tax base.

Total expenditures for the Logistics Base were 5.3 million during the financial period.

In early April 1998, the Minister of State for Finance announced the introduction of a bold plan to reconstruct the tax system and to widen the tax base.

The total cost of relocation of the Base would therefore be about 18.3 million.

Reducing the tax rate for companies substantially, while eliminating targeted business tax preferences and broadening the corporate tax base, would increase both investment and workers wages. Allowing multinational companies to repatriate overseas profits without paying additional US tax would also bolster investment and job creation at home.

There were 1585 taxable items in total for the tax reduction goods, which accounted for about 19 of total taxable items in our country. The average tax rate was reduced from 10.5 to 7.8 by an average of 26 .

Percentage of total staff Percentage applied to base figure Gross salary per annumª (thousands of US )

Instead, developing country leaders must draw on the experiences of both developed countries and their peers to design tax policies that meet the basic requirements of operability, buoyancy, and stability. This can include broadening the tax base, reducing tax avoidance and evasion, improving tax collection, and developing new, cooperative international taxation strategies.

But how should additional revenues be raised from top taxpayers to achieve these two goals? Most economists believe that increasing revenues by reforming the tax code and broadening the tax base is probably better for the economy s long term growth than raising income tax rates.

This was an improvement on 1996, but lower than the rate for 1995. 34. During 1997, the Government began to implement a fiscal reform aimed at increasing tax revenues and enhancing the efficiency of public spending. In the revenue area, the main objective was to increase tax collection by expanding the tax base, strengthening tax administration and revising the principal taxes, without increasing income tax rates and value added tax.

Total business receipts (subject to gross revenue tax) rose by 7.8 per cent in 1996 to 5,612.9 million.

For these reasons, Obama is championing a revenue neutral reform that would leave corporate tax revenues unchanged, with the proposed rate cut financed by limiting deductions, credits, and loopholes, which would broaden the tax base.

Italy, like Greece, has been trying to broaden its tax base. Aerial surveys now detect garden swimming pools tax assessors investigate yachts moored in harbors and no transactions above 1,000 ( 1,268) may be made in cash.

The Direction Générale des Impôts (DGI), the tax authority, has continued to try to widen the scope of the tax collection base through various schemes in Government controlled areas in an effort to increase State revenues.

These revenue losses could be offset by curtailing so called corporate tax expenditures deductions, credits, and other special tax provisions that subsidize some economic activities while penalizing others and broadening the corporate tax base. Both President Barack Obama s plan for business tax reform and the Simpson Bowles deficit reduction plan propose reducing such expenditures to pay for a reduction in the corporate tax rate.

In many countries, there is considerable scope for domestic resource mobilization. Broadening the tax base, improving tax administration, and closing gaps in the value added tax could make a significant difference in lower income countries, where tax revenues account for only about 10 14 of GDP, compared to 20 30 of GDP in high income countries.

This entails abandoning the prevailing dogma that taxes should only be increased when absolutely necessary. This stance assumes that lower tax rates raise the tax GDP ratio by ensuring better compliance with tax laws, and favors indirect taxation (such as value added taxes) in order to broaden the tax base to include those with modest incomes.

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And, while raising so much revenue with so low a tax rate sounds grand, the declining volume of trades would shrink the tax base precipitously. As a result, the ultimate revenue gains are likely to prove disappointing, as Sweden discovered when it attempted to tax financial transactions two decades ago.

Adding up the impact of the PBC s sterilization efforts, roughly one quarter of China s total monetary base is illiquid. Thus, although China s total money supply seems excessive, with the M2 to GDP ratio now at about 190 , the real monetary base is actually much smaller than it appears.

Finally, Abe s growth strategy demands a corporate tax reduction a powerful tool for increasing the tax base in a world in which countries are competing to attract multinational companies. Indeed, lower taxes are vital to increase foreign and domestic investment in Japan.

So here is an idea that might work politically Let taxpayers keep all of the current tax expenditures, but limit the total amount by which each taxpayer can reduce his or her tax liability in this way.

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President Barack Obama s proposed alternative to the fiscal cliff would substantially increase tax rates and limit tax deductions for the top 2 of earners, who now pay more than 45 of total federal personal income taxes. His budget would also increase taxes on corporations, and would end the current payroll tax holiday, imposing an additional 2 tax on all wage earners.

However, the Territory still faces problems associated with a shrinking tax base, an ageing population and the exodus of skilled individuals leaving in pursuit of higher wages offshore.

Reducing the tax preferences for non corporate business entities (such as partnerships) that pass their income through to their owners individual returns would also broaden the tax base subject to the corporate income tax. Pass through companies now account for more than 80 of net business income (by far the highest share in the developed countries).

In sum, the EU federal corporate tax should be thought of as a benefit tax, based on a broad measure of activity, applied at a moderate rate, and unrelated to current returns nor should it be deductible from other taxes. Among the various options under consideration, the value added tax base perhaps averaged over a number of years looks best, since the accounting and tax assessment infrastructures already exist.

According to OECD tax policy, recognition of a wider source principle in the case of developing countries, is regarded as espousing economic aid for less developed capital importing countries rather than a form of equitable distribution of the income tax base (Messere and Owens, 1988).

The total income to the budget is increased by 0.9 million 0.8 million for tax reimbursements and 0.1 million for the United Nations Volunteers.

CAMBRIDGE An increasing number of American companies are making plans to shift their headquarters to Europe. These so called inversions would reduce these companies total tax bill by allowing them to escape from the United States uniquely unfavorable corporate tax rules.

Likewise, while limiting the deductibility of net interest for corporations, as many other developed countries have done, would broaden the tax base and discourage excessive reliance on debt financing, it would increase the tax burden on major investments in physical capital, which are often debt financed.

The best response would be to enact strong controls on budgets, together with structural reforms to promote growth. In the US, which has the most progressive income tax among the major economies, federal tax reforms that would lower the rates and broaden the base are being discussed.

The only tax you've paid is whiskey tax.

Although progress has been slower than required, over the past 10 years the country has succeeded in increasing its tax base and social spending on the implementation of the peace agreements.

Thus, the annual total of cooling degree days (CDD) index is calculated by summing the differences of the average temperature Ti and a base temperature (for example, 18ºC) for all days i of one year, whose average temperature is above the base temperature.

Previous positions include Director, International Tax Relations, Tax Policy Department Director, Tax Department, Italian Banking Association and Economic Adviser to the Minister of Finance for international tax policy and financial tax issues.

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With regard to the output San Vito refurbishment plan , the Advisory Committee notes that the proposed budget includes a non recurrent provision of 5,123,700 and a recurrent provision of 233,000, a total of 5,356,700, for the proposed expansion of the Base into the former United States base at San Vito, 10 kilometres from the Brindisi Base.