taxavoidance and taxevasion can vary depending on the jurisdiction. In general, the term evasion applies ... in the UK had come to distinguish the term taxevasion from avoidance . However in the UK at least ... of UK anti avoidance provisions. External links Wiktionarypar TaxavoidanceTaxevasion http www.taxjustice.net ... avoidance Fraud DEFAULTSORT TaxAvoidance And TaxEvasion Category Taxavoidance Category Tax ...Taxation globalize USA date February 2011 Taxavoidance is the legal utilization of the tax regime to one ..., taxevasion is the general term for efforts not to pay taxes by illegal means. The term tax mitigation is a synonym for taxavoidance . Its original use was by tax advisors as an alternative to the pejorative term taxavoidance . Latterly the term has also been used in the tax regulations of some jurisdictions to distinguish taxavoidance foreseen by the legislators from taxavoidance ... for particular government policies that they oppose. TaxavoidanceTaxavoidance is the legal ..., by means which the law permits, cannot be doubted. See Gregory v. Helvering . Examples of taxavoidance ... source of taxavoidance. ref cite web url http www.uakron.edu law lawreview taxjournal atj23 docs Pasternak08.pdf title Pasternak M., and Rico C., Tax Interpretation, Planning, and Avoidance Some Linguistic Analysis, 23 Akron Tax Journal, 33 2008 . ref Taxevasion File Venedig BW 1.JPG thumb ... and services or will collude to hide the true revenue from them. By contrast taxevasion is the general ... tax es by illegal means. Taxevasion usually entails taxpayers deliberately misrepresenting or concealing ... than actually earned or overstating deductions .Taxevasion is an activity commonly associated with the underground economy and one measure of the extent of taxevasion the amount of unreported income ... in the world ref Slemrod, Joel. 2007. Cheating Ourselves The Economics of TaxEvasion. Journal of Economic ... currency ratio models ref Feige,Edgar L. ed. , 1989. The Underground Economies, TaxEvasion and Information ... more details
Mergeto taxavoidance and taxevasion date January 2010 Orphan date February 2009 Under the federal law of the United States of America , taxevasion , or tax fraud, is the purposeful illegal attempt of a taxpayer to evade payment of a tax imposed by the federal government. Conviction of taxevasion ... the payment of taxes. The IRS has developed several methods of proof of income taxevasion in an effort to decrease the tax gap. These investigations can be carried out to determine the correctness of any tax return, make a return where none has been made, determine the liability of any person for any income tax or collect any income tax. ref 26 U.S.C. 7602. ref The IRS has the authority to summons ... taxevasion crimes. The IRS can only impose penalties and require payment of proper tax due. Net worth ... method identifies taxevasion through review of the taxpayer s bank deposits. This method of investigation ... Ahead External links http www.usdoj.gov tax txdv09729.htm US Justice Dept press release on Jeffrey Chernick, UBS tax evader http www.usdoj.gov tax US Justice Tax Division and its enforcement efforts References reflist Category Taxevasion ... small business and sole proprietorship employees as the largest contributors to the tax gap between ... contribute to the tax gap because there are few ways for the government to know about skimming ..., cash receipts and batter income is not reported it is illegal cheating because no tax is paid by individuals ... the correctness of the tax return. ref Id. ref The information requested may include books, records ... investigator must follow all proper administrative steps in obtaining the information. The IRS tax ... s cash expenditures throughout the tax year. The IRS then compares the increase in net worth ... ref The program is designed to provide incentive to ordinary citizens to snitch on tax cheats. The program ... taxes article 102599 the irs will pay you to turn in tax cheaters IRS will pay you to turn in tax ... more details
Bottom of the harbour taxavoidance was a form of taxavoidance used in Australia in the 1970s. Legislation Crimes Taxation Offences Act 1980 below made it a Crime criminal offence in 1980. The practice came to symbolise the worst of variously contrived tax strategies from those times. cited in the AIC paper In its 1986 87 annual report, the Australian Taxation Office ATO stated a total 6,688 companies had been involved, involving revenue of between 500 million and 1 billion. Operation The operation ... taxavoidance was and perhaps still is regarded as something less than an outright crime . Tax matters ... University , 1989 . http www.aic.gov.au publications tandi tandi43.html Thinking about TaxAvoidance ... Unpaid Company Tax Promoters Act 1982 at ComLaw Category Corporate taxation Category Taxation in Australia Category Taxavoidance ... of asset s and accumulated Profit accounting profits before its tax fell due, leaving it then unable ... untaxed being prior to Capital gains tax in Australia Capital Gains Tax . The promoter would have the company ... to a dividend strip operation. In any case the amount the promoter paid was a tax deduction since ... tax debts Income tax in Australia income tax , sales tax , etc , or to aid or abet any person or company ... schemes like fraud s. Taxation Unpaid Company Tax Assessment Act 1982 The Taxation Unpaid Company Tax Assessment Act 1982 went further, allowing for the recovery of tax avoided under bottom of the harbour tax schemes between 1 January 1972 and 4 December 1980. The retrospectivity in this act was even more controversial than making the avoidance a crime. Treasurer of Australia Treasurer John ... of the tax burden. Australian House of Representatives House , 23 September 1982 . Australian Senate ... Unpaid Company Tax Assessment Act 1982 at ComLaw http www.comlaw.gov.au comlaw 5Cmanagement.nsf lookupindexpagesbyid IP200403193?OpenDocument Taxation Unpaid Company Tax Vendors Act 1982 at ComLaw ... more details
Cherry picking taxavoidance was a form of taxavoidance used in Australia in the 1970s and early 1980s. Company contributions to a superannuation fund were claimed as tax deduction s, but the money immediately went back to the company. In the taxonomy of tax schemes this one was an obvious abuse of an intended system. The Australian Taxation Office was able to attack the scheme, at least in some instances, on the basis that the funds were not in fact ones that benefited employees a legislative requirement for tax deductibility . Operation A company would create a superannuation fund, with an associate as the trustee . The company paid money into the fund, ostensibly for the benefit of particular employees. Under section 82AAE now repeal ed of the Income Tax Assessment Act 1936 such contributions were tax deductible to a limit of 5 of initial salary or 400, whichever was greater . But the trustee of the fund would immediately lend the money back to the company on favourable terms, such as a low interest rate and unsecured debt unsecured . So the company got a tax deduction but kept its money. Employees were not being defrauded. Their wages and conditions didn t provide for any superannuation, so they received everything they expected to and were unaware of the super fund notionally in their names. The trustee of the fund normally had to declare in its annual report to the Australian ... Category Taxavoidance ... wording, and no linking of secretary . Joy Mawson. The fund was purely for tax purposes, so although .... The Raymor companies claimed deductions for contributions made in tax years ending 30 June 1973 ... 2.7 and 4.4 per annum. Some money was also lent to selected executives as a way of giving them a tax ... New South Wales Attorney General . The ATO subsequently made amended tax assessments denying the Raymor ... was satisfied the purpose was not employee benefits but tax benefits to the company, and hence ... more details
opportunities for legal taxavoidance and illegal taxevasion these not only result in lost ... assumed to have done so for taxavoidance reasons and is subject to a higher tax rate. ref http www.law.cornell.edu ...Taxation To tax from the Latin wikt en taxo Latin taxo I estimate is to impose a financial charge or other ... by many subnational entity subnational entities . Taxes consist of direct tax or indirect tax , and may be paid in money or as its labour equivalent often but not always unpaid labour . A tax may ... . ref A tax is not a voluntary payment or donation, but an enforced contribution, exacted pursuant ... of economists, a tax is a non penal, yet compulsory transfer of resources from the private to the public ... highly debated in politics and economics . Tax collection is performed by a government agency such as Canada ... and vary the tax rates. This is done to distribute the tax burden among individuals or classes of the population ... for doing this is called its fiscal policy see also tax exemption , or to modify patterns of consumption .... A nation s tax system is often a reflection of its communal values or and the values of those in power. To create a system of taxation, a nation must make choices regarding the distribution of the tax .... In democratic nations where the public elects those in charge of establishing the tax system, these choices ... in complying with tax laws and rules. The collection of a tax in order to spend it on a specified purpose, for example collecting a tax on alcohol to pay directly for alcoholism rehabilitation centres ... the kind of tax system that would minimize this distortion. Also, one of every government s most fundamental ... a sales tax or value added tax . Others e.g. Libertarianism libertarians argue that most or all .... The most extreme anti tax view is anarcho capitalism , in which the provision of all social services ... for example, tobacco is taxed to discourage smoking, and a carbon tax discourages use of carbon based ... this rulers tax citizens, and citizens demand accountability from their rulers as the other part ... more details
Unreferenced stub auto yes date December 2009 Taxation Dicdef Tax advantage refers to the economic bonus which applies to certain accounts or investment s that are, by statute , tax reduced, tax deferred, or tax free. Governments establish the tax advantages to encourage private individuals to contribute money when it is considered to be in the public interest. An example is retirement plan s, which often offer tax advantages to Incentive incentivize saving s for retirement . In the United States , many government bond s such as U.S. state state bonds or municipal bond s may also be exempt from certain tax es. In countries in which average age of the population is increasing, tax advantages may put pressure on pension schemes. For example, where benefits are funded on a pay as you go basis, the benefits paid to those receiving a pension come directly from the contributions of those of working age. If the proportion of pensioners to working age people rises, the contributions needed from working people will also rise proportionately. In the United States , the rapid onset of Baby Boomer retirement is currently causing such a problem. In order to reduce the burden on such schemes, many governments give privately funded retirement plans a tax advantaged status in order to encourage more people to contribute to such arrangements. Governments often exclude such contributions from an employee s taxable income, while allowing employers to receive tax deductions for contributions to plan funds. Investment earnings in pension fund s are almost universally excluded from income tax while accumulating, prior to payment. Payments to retiree s and their beneficiary beneficiaries also sometimes receive favorable tax treatment. In return for a pension scheme s tax advantaged status, governments typically enact restrictions to discourage access to a pension fund s assets before retirement. See also Taxavoidance and taxevasionTax stub Category Tax incidence Category Taxation and efficiency ... more details
IRS determined that none of the then pending US tax patents contained Taxavoidance and taxevasion abusive taxavoidance transactions . ref name bakosenterprises.com http www.bakosenterprises.com IP ... of business method patent . They are also called taxavoidancetax planning patents , tax strategy patents ref name patentlyo.com http www.patentlyo.com patent 2007 11 tax strategy pa.html comments Tax Strategy Patents, Patently O blog, November 13, 2007 ref , and tax shelter patents . ref http www.senate.gov levin newsroom release.cfm?id 269516 Summary of Levin Coleman Obama Stop Tax Haven Abuse ... domesticNews idUSN1526035520071115?sp true Lambert, Lisa Trend of owning taxavoidance methods ... law Category United States patent law Category Intellectual property law Category Taxavoidance Category ...Image US patent 5136502.JPG thumb right Earliest US patent classified as a tax patent by the USPTO, August ... law A tax patent is a patent that discloses and claim patent claim s a system or method for reducing or deferring tax es. Tax patents are granted predominantly in the United States but can be granted ... The earliest patent that the United States Patent and Trademark Office USPTO considers to be a tax ... system for tax advantaged funding of Health insurance Private employer sponsored health care programs for retirees. The United States Congress has never passed a law explicitly allowing tax patents ... is getting tax crazy , International Herald Tribune , October 19, 2006. ref but in 1998, the U.S. ... . USPTO classification The USPTO has created a Patent classification patent class for tax patents ... ref About 10 new tax patent applications are filed each year and about five new patents are issued ..., Dustin Tax Strategy Patents A Problem Without Solutions? , Tax Notes ref Legislation Tax patents are controversial. According to some, tax patents amount to government issued barbed wire to keep some taxpayers from getting equal treatment under the tax code. ref name IHT The proposed Patent Reform ... more details
to 20p. Taxavoidance A resister may lower the tax due by using legal taxavoidance techniques. Taxevasion A resister may lower the tax demanded through illegal taxevasion . For instance, one way .... These methods differ from taxevasion in that they stay within the tax laws, and they differ from taxavoidance in that the goal is to pay as little tax as possible rather than to keep as much post ...Tax resistance Tax resistance is the refusal to willingly pay a tax because of opposition to the institution that is imposing the tax, or to some of that institution s policies. Tax resistance can be a form ... . Tax resistance can also be a variety of protest, or a technique of nonviolent resistance for example, in India s campaign for independence led by Mohandas Gandhi . Tax resisters are distinct from Tax protester United States tax protesters who deny that the legal obligation to pay taxes exists or applies. Tax resisters may accept that some law commands them to pay taxes but they still choose to resist taxation. History of tax resistance main History of tax resistance Motives Tax resisters typically have one or more of the following motives conscientious objection to what the tax money would be spent on unwillingness to pay an illegitimate or unfair tax protest against the taxing institution or the particular tax an attempt to use Nonviolent resistance nonviolent political force to weaken ... propaganda of the deed For example, pacifist war tax resisters are typically motivated by an unwillingness to be complicit in government spending on war and preparations for war 1 . Tax resisters for women s suffrage were unwilling to pay a tax to a government that did not allow them the rights of representation 2 . When American Amish refused to pay the social security tax, they were protesting against the imposition on them of that particular tax 3 . When the first Russian duma issued the Vyborg Manifesto , they hoped to use tax resistance to wrest concessions from the Czar 4 . Voluntaryism ... more details
Unreferenced date December 2006 Dicdef date December 2010 Tax investigation is an in depth investigation processed by tax authority in order to recover tax undercharged in previous years of assessment. It means that the taxpayer is suspected regarding to taxevasion , or just by random sampling . Reasons Empty section date July 2010 Ways to quantify the tax undercharged Interviewing with the taxpayer. Field visit to the taxpayer s premises. Observation of the taxpayer s business operation. Examination of the books and records. Enquiry on third parties including bank balance confirmation. Asset betterment method calculation to find out the discrepancy, tax undercharged amount. Post tax audit meeting. The issue of tax assessment or additional assessment. Prosecution or an additional tax assessment. See also Tax collection Tax administration DEFAULTSORT Tax Investigation Category Taxation Tax stub de Steuerfahndung it Guardia di Finanza ... more details
Financial Centres Offshore trust Taxavoidance and taxevasionTax resistance Tax exile Tax exporting ... on illegal tax shelters http www.taxshelters.org TaxShelters.org Category Taxavoidance ...Taxation Tax shelters are any method of reducing taxable income resulting in a reduction of the payments to tax collecting entities, including state and federal governments. The methodology can vary depending on local and international tax laws. In North America, a tax shelter is generally defined as any method that recovers more than 1 in tax for every 1 spent, within 4 years. Citation needed date April 2010 Types of tax shelters Some tax shelters are questionable or even illegal Offshore companies. Due to differing tax rates and legislations in each country, tax benefits can be exploited. Example If Import Co. buys 1 of goods from India and sell for 3, Import Co. will pay tax on 2 of taxable income . However, tax benefits can be exploited if Import Co. is to setup an offshore subsidiary in the British ... it was purchased for 3 and sold for 3 , thus paying no tax. While the subsidiary will have to pay tax on 2, the tax is payable to the tax authority of British Virgin Islands. Since the British Virgin Islands has a corporate tax rate of 0 , no taxes are payable. Financing arrangements. By paying unreasonably ... or even create a loss , but create a massive capital gain when one withdraws the investment. The tax ... income such as interest or dividend. The flaws of these questionable tax shelters are usually .... In general, if the purpose of a transaction is to lower tax liabilities but otherwise have no economic ... as unethical. The agency may re evaluate the price, and will quickly neutralize any over tax benefits ... to be reasonably difficult itself. Other tax shelters can be legal and legitimate Flow through shares ..., the US government allows the exploration costs of the company to be distributed to shareholders as tax deduction s not to be confused with tax credits . Investors are rewarded by 1 the near instant ... more details
, taxavoidance. With a flat tax, there are fewer incentives than in the current system to create tax shelters and to engage in other forms of taxavoidance. Citation needed date November 2009 Flat ... a flat tax system. A simple progressive tax would also discourage taxavoidance. Under a pure flat tax ..., due to a subsequent decline in taxevasion and the Laffer curve effect. Others point out, however ...For the term related to tax incidence regarding flat progressivity Proportional tax POV date January 2011 Taxation Refimprove date September 2010 A flat tax short for flat rate tax is a tax system with a constant tax rate. ref James, Simon 1998 A Dictionary of Taxation , Edgar Elgar Publishing Limited Northampton, MA ref A flat tax may also be called a tax in rem against the thing , such as an excise tax on gasoline of three cents per gallon. Usually the term flat tax refers to household income and sometimes ... with progressive tax progressive or regressive tax es that vary according to parameters such as income or usage levels. Flat taxes offer simplicity in the tax code, which has been reported to increase ... research taxes bg1866.cfm title A Brief Guide to the Flat Tax publisher Heritage Foundation last Mitchell first Daniel J. date 2005 07 07 accessdate 2009 04 23 ref Flat taxes that allow a tax exemption for household income below a cutoff level are not true proportional tax es, because, for household ... Flat tax proposals differ in how they define and measure what is subject to tax. True flat rate income tax A true flat rate tax is a system of taxation where one tax rate is applied to all income with no exceptions ... 3861190 The flat tax revolution , dated April 14, 2005, The Economist argued as follows If the goals are to reduce corporate welfare and to enable household tax returns to fit on a postcard, then a true flat tax best achieves those goals. The flat rate would be applied to all taxable income and profits ... to a preferential or unfair tax treatment. No industry receives special treatment, large households ... more details
, pp. 865 67. references See also Excess burden of taxation Lump sum tax Non profit organization Taxavoidance and taxevasionTax fraud Tax policy Tax resistance Tax shelter Wealth tax Category Taxation ...Optimal tax theory is the study of how best to design a tax to minimize Distortions economics distortion and inefficiency subject to raising set revenues through distortionary taxation. ref Lars Ljungqvist and Thomas J. Sargent 2000 , Recursive Macroeconomic Theory , 2nd ed, MIT Press, ISBN 0 262 19451 1, p.444. ref A neutral tax is a theoretical tax which avoids distortion and inefficiency completely. ref Rothbard, Murray . 1970 Power and Market Government and the Economy , p65 ref ref http www.businessdictionary.com definition neutral tax.html Business Dictionary.com ref . Other things being equal, if a tax payer must choose between two mutually exclusive economic projects say investments that face the same pre tax risk and returns, the one with the lower tax or with a tax break would be chosen ... market get an income tax liability on their wages, people who are able to consume leisure or engage ... a maid are taxed more lightly. With the married filing jointly tax unit in U.S. income tax law ... the highest marginal rate. This type of tax creates a large distortion disfavoring women from the labor force during years when the couple have great child care needs. The incidence of sales tax es ... he she pays the tax although a more prosperous person who say enjoys playing at being a home chef is more ... sloping supply curve s implies that there is producer surplus and consumer surplus. Any sales tax reduces ..., then a single uniform rate of tax on all commodities would seem to minimize the sum area of all ... to price changes from tax and then concluded that taxes on goods with more inelastic consumer demand response would have smaller DWL distortions. Thus, we would tax MILK more heavily than PAPAYA ... looks for marginal deadweight losses, and can be used to evaluate the efficiency of tax reforms ... more details
to engage in taxavoidance . The Economist points out that this definition would still exclude a number of jurisdictions traditionally thought of as tax havens. ref Doggart, Caroline . 2002. Tax ... to impose direct tax es and, if so, to determine the appropriate tax rate. Anti avoidance To avoid ... on the issue of taxavoidance and an understanding of the role that the tax neutrality of small ... on taxavoidance debate. IFC Forum url http www.ifcforum.org files IFC Forum holding statement on tax ... , or systems of taxation which permit them to be used to structure taxavoidance schemes for example ... UK corporation tax potentially lost to avoidance activities to be up to 2 billion per annum, although ... TUC , which had concluded that taxavoidance by the 50 largest companies in the FTSE 100 Index ... details. Investigations and arrests followed relating to charges of illegal taxevasion. The German ... taxevasion was being engaged in, the incident has fuelled the perception amongst European governments ... taxevasion, rather than legitimate tax planning and legal tax mitigation schemes. This in turn has ... Offshore bank Offshore company Offshore Financial Centres Offshore trust Taxavoidance and taxevasionTax resistance Tax exile Tax exporting Tax shelter UBS Notes Reflist colwidth 30em Further ... globalization Category Finance Category Offshore finance Category Taxavoidance ar ca Parad s ...Taxation A tax haven is a state or a country or territory where certain tax es are levied at a low rate ... Which Countries Become Tax Havens? ref Individuals and or corporate entities can find it attractive to move themselves to areas with reduced or nil taxation levels. This creates a situation of tax ..., and for different categories of people and or companies. There are several definitions of tax havens ... adviser to Jersey What ... identifies an area as a tax haven is the existence of a composite tax structure ... Similarly, others have suggested that any country which modifies its tax laws to attract foreign ... more details
six months. ref http www.tax news.com archive story Russian Tax Amnesty Yields 130m xxxx28465.html ref The Russian program was not open to anyone previously convicted of tax crimes such as taxevasion. References reflist Category Taxation Category Taxevasiontax stub ru ...Wikify date December 2010 Tax amnesty is a limited time opportunity for a specified group of taxpayers to pay a defined amount, in exchange for forgiveness of a tax liability including interest and penalties relating to a previous tax period or periods and without fear of criminal prosecution. It typically expires when some authority begins a tax investigation of the past due tax. In some cases, legislation extending amnesty also imposes harsher penalties on those who are eligible for amnesty but do not take it. ref http www.calchamber.com Chamber in the news 020305 Amnesty.htm The traps in amnesty for taxes Bot generated title ref Instances In 2009, a federal U.S. tax amnesty was granted to more than 14,700 delinquent taxpayers. ref http www.nytimes.com 2009 11 18 business global 18irs.html ref Many U.S. states have had tax amnesties. ref http www.taxadmin.org FTA rate amnesty1.html State Tax Amnesty Programs Bot generated title ref The City of Los Angeles collected 18.6 million in its 2009 tax amnesty program, claiming that the amount was 8.6 million more than was expected and that businesses ... The state of Louisiana brought in 450 million from its 2009 tax amnesty program, three times more ... index.ssf 2009 12 louisiana tax amnesty program 3.html ref In a 2007 U.S. Senate bill that did not become law, a tax amnesty for illegal immigrants was proposed on the basis of the impracticality of accurately estimating their back taxes. The tax amnesty was supported by then president George W. Bush ...?ARTICLE ID 55786 Tax amnesty for illegals Bot generated title ref Outside the U.S., a 2009 Italian tax amnesty yielded 5 billion, and a 2007 Russia tax amnesty program ref http www.ey.com Global ... more details
emigrating and thereby changing tax residence . Related terminology TaxavoidanceTax exemption ...Refimprove date May 2010 Taxation Tax competition , a form of regulatory competition , exists when governments ... resources by minimizing the overall taxation level and or special tax preferences, creating a comparative advantage . Some observers suggest that tax competition is generally a central part of a government ... of wealth if it was not for tax competition lowering taxation on corporation. History From ... mobility. Impact With tax competition in the era of globalization politicians have to keep tax rates reasonable to dissuade workers and investors from moving to a lower tax environment. Most countries started to reform their tax policies to improve their competitiveness. However, the tax burden ... such as reduction of both personal and corporate income tax rates tax breaks holidays i.e. time limited tax exemptions favorable tax policies for non residents raising the barriers to free movement of capital not allowing company law companies domiciled in tax haven s to bid for public contracts political pressure on lower tax countries to harmonize i.e. raise their taxes Application The European Union EU illustrates the role of tax competition. The barriers to free movement of capital and people ... levels of corporate tax to attract large amounts of foreign investment while paying for the necessary ... oppose the idea of infrastructure transfers to low tax countries. Net contributors have not complained .... EU integration brings continuing pressure for consumption tax harmonization as well. EU member nations must have a value added tax VAT of at least 15 percent the main VAT band and limits the set of products and services that can be included in the preferential tax band. Still this policy .... The political pressure for tax harmonization extends beyond EU borders. Some neighbouring countries with Tax haven special tax regimes e.g. Switzerland were already forced to some concessions ... more details
wiktionary A tax return is a document that can be filed with a government body declaring liability for taxation , in various countries Tax return Australia Tax return Canada Tax return United Kingdom Tax return United States disambig ... more details
Windows tax may refer to The window tax , an historic British tax on glass The Microsoft tax Licensing agreements Microsoft Windows tax , an alleged blackmail scheme against computer OEMs disambig ... more details
and Evasion in a Tax on Foreign Exchange Transactions, in The Tobin Tax Coping with Financial ...About the more general category of financial transaction taxes Financial transaction tax the more general category of currency transaction taxes Currency transaction tax Multiple issues essay January 2010 long January 2010 Quote farm date September 2010 Split apart date July 2010 discuss Talk Tobin tax Splitting Move portions Financial transaction tax discuss Talk Tobin tax Suggestions that portions of this article be moved date July 2010 See also Financial transaction tax Currency transaction tax Spahn tax Bank tax Robin Hood tax A Tobin tax , suggested by Nobel Laureate economist James Tobin , was originally defined as a tax on all Spot market spot conversions of one currency into another. The tax .... Tobin suggested his currency transaction tax in 1972 in his Janeway Lectures at Princeton University ... , Tobin summarized his idea blockquote The tax on Foreign exchange market foreign exchange transactions ... . The idea is very simple at each exchange of a currency into another a small tax would be levied ... in Mexico, Southeast Asia and Russia have proven. My tax would return some margin of manoeuvre to Central ... suggested the rate as let s say 0.5 , in that interview setting, Tobin tax Is there an optimum Tobin tax rate? others have tried to be more precise in their search for the optimum rate. Concepts and definitions ... tax was to find a way to manage exchange rate volatility. In his view, currency exchanges transmit disturbances ... sand in the wheels was to suggest a tax on all spot conversions of one currency into another, proportional ... uniform tax, administered by each government over its own jurisdiction. Britain, for example, would ... in London, even when sterling was not involved. The tax proceeds could appropriately be paid into the IMF or World Bank. The tax would apply to all purchases of financial instruments denominated in another ... on Employment Interest and Money , had already prescribed a tax on transactions, with the aim of linking ... more details
Orphan date February 2009 UStaxation The X tax is an approach to taxation , United States , that can be described as a standard European style credit invoice value added tax VAT , except that wages are deducted by businesses and taxed at progressive tax progressive rates to workers. ref name atpi cite web url http www.americantaxpolicyinstitute.org pdf FallConference2005 NYCorp 2532993 3.pdf title Tax Planning Under The Flat Tax X Tax publisher American Tax Policy Institute last Bankman first Joseph coauthors Schler, Michael date 2005 09 12 accessdate 2007 08 28 ref Businesses are taxed on gross receipts tax gross receipts and individuals taxed on wages, with neither businesses or individuals paying tax on financial transactions or financial instruments . ref name atpi The plan was created by Princeton University economist and New York University School of Law professor David Bradford economist David F. Bradford . ref name bw cite web url http www.businessweek.com magazine content 03 10 b3823100 mz057.htm title Beyond Bush A Simple Plan to Tax Consumption last Coy first Peter publisher Business Week date 2003 03 10 accessdate 2007 08 28 ref Bradford states the X tax could alleviate the complexities and avoidance issues plaguing the existing U.S. system, ref name princeton cite web url http www.princeton.edu ceps workingpapers 93bradford.pdf title The X Tax in the World Economy publisher Princeton University last Bradford first David F. date 2003 08 accessdate 2007 08 28 ref and argues that the government should exempt from taxation all dividends , interest , and other income from savings . That way, people will be treated equally by the tax system, whether they choose to spend now or save to increase their future spending power. ref name bw See also Income tax in the United States Taxation in the United States Tax reform Notes references External links http www.wws.princeton.edu ... of Economic Research tax stub Category Tax reform in the United States ... more details
Tax courts are court s of limited jurisdiction that deal with tax issues. United States Tax Court , a United States federal courts United States federal court List of Judges of the United States Tax Court Uniformity and jurisdiction in U.S. federal court tax decisions State court United States State courts Oregon Tax Court of the Oregon Judicial Department Hawaii Tax Appeal Court of the Hawai i State Judiciary Indiana Tax Court Massachusetts Appellate Tax Board Minnesota Tax Court New Jersey Tax Court Tax Court of Canada Tax Court of Canada Act EFTA Court Philippine Court of Tax Appeals disambig ... more details
, 898 F.2d 942, 90 1 U.S. Tax Cas. CCH paragr. 50,166 3d Cir. 1990 taxevasion conviction under ...Taxation The term direct tax generally means a tax paid directly to the government by the persons on whom it is imposed. General meaning In the general sense, a direct tax is one paid directly to the government ... accompanied by a tax return filed by the taxpayer . Examples include some income tax es, some corporate tax es, and transfer tax es such as estate inheritance tax and gift tax. In this sense, a direct tax is contrasted with an indirect tax or collected tax such as sales tax or value added tax VAT a collected tax is one which is collected by intermediaries who turn over the proceeds to the government and file the related tax return. Some commentators have argued that a direct tax is one that cannot be shifted by the taxpayer to someone else, whereas an indirect tax can be. ref Britannica Online ... . ref An 18th century writing about the tax explained cquote The power of direct taxation applies ... a capitation or poll tax upon every person to any amount. This is a tax that, however oppressive ... hath will he give for his head. This tax is so congenial to the nature of despotism, that it has ... from this state, have long labored to introduce a poll tax among us. The power of direct taxation will further apply to every individual, as congress may tax land, cattle, trades, occupations, &c. to any ... will have but this alternative, either to pay the tax, or let their property be taken for all resistance ... constitutional law sense In the United States, the term direct tax has a different meaning for the purposes of constitutional law. Traditionally, a direct tax in the constitutional sense means a tax ... v. Wiener , in which the Court stated that a direct tax is a tax which falls upon the owner merely ... , 326 U.S. 340, 66 S. Ct. 178, 45 2 U.S. Tax Cas. CCH 10,239 1945 . ref such as an ordinary real estate property tax imposed on the person owning the property as of January 1 of each year as well as a capitation ... more details
Tax harmonisation refers to the process of making tax es identical or at least similar in a region. In practice, it usually means increasing tax in low tax jurisdictions, rather than reducing tax in high tax jurisdictions or a combination of both. The best example is the European Union where all countries must have a value added tax of at least 15 . References http economics.about.com cs moffattentries a harmonization.htm Tax Harmonization versus Tax Competition A Review of the Literature tax stub Category International taxation ... more details
New section 877A significantly alters expatriation tax regime accessdate 2010 03 20 ref who renounces his or her citizenship and leaves the country is automatically assumed to have done so for taxavoidance reasons and is victim to severe tax laws. The Heroes Earnings Assistance and Relief Tax Act ...An Expatriation Tax is a tax on persons who renounce their citizenship or tax residence residence in a country. United States Unlike most countries, the United States taxes its citizens on worldwide income, whether or not they are resident in the United States. To deter taxavoidance by abandonment of citizenship, the United States imposes an Expatriation Tax on those who abandon U.S. citizenship . The tax ... to avoid tax The American Jobs Creation act of 2004, passed by the Republican Party United States ... Expatriation Tax accessdate 2009 11 25 ref Under the new law, any individual who has a net worth of 2 million or an average income tax liability of 139,000 for the five previous years ref cite web url ... tax. Under the new expatriation tax law, effective for calendar year 2009, expatriate s are treated ... will be taxed as income in that calendar year. The tax applies whether or not an actual sale is made ... arisen before the taxpayer moved to the U.S. The new tax law also applies to deferred compensation ... or not waive this right? What about IRA contributions that one paid tax upon in the year one made the contribution? date May 2010 , then the expatriate is charged a 30 withholding tax on their deferred .... For example Canada imposes a departure tax on those who cease to be tax resident in Canada. The departure tax is a tax on the capital gains which would have arisen if the emigrant had sold his ... E pub tg t4056 t4056 e.html Canada Revenue Agency Emigrants and Income Tax ref However, in Canada, unlike ... article 0,,id 97245,00.html IRS Guide to Expatriation Tax http www.govtrack.us congress bill.xpd?bill h110 6081 Heroes Earnings Assistance and Relief Tax HEART Act of 2008 at govtrack.us Category Taxation ... more details
Dicdef date February 2011 Tax break is a slang term referring to any item which reduces tax, including any tax exemption , tax deduction , or tax credit . Tax break is also a pejorative term used in the United States to refer to purportedly favorable tax treatment of any class of persons, as in individuals get a tax break for xxx . DEFAULTSORT Tax Break Category Taxation ... more details
dablink Withholding redirects here. if 2 . Taxation Withholding tax is a government requirement for the payer of an item of income to withhold or deduct tax from the payment, and pay that tax to the government. In most jurisdictions withholding tax applies to employment income. Many jurisdictions also require withholding tax on payments of interest or dividend s. In most jurisdictions there are additional withholding tax obligations if the recipient of the income is resident in a different jurisdiction, and in those circumstances withholding tax sometimes applies to royalties , renting rent or even the sale of real estate . Governments use withholding tax as a means to combat taxevasion , and sometimes impose additional withholding tax requirements if the recipient has been delinquent in filing tax returns, or in industries where taxevasion is perceived to be common. Typically the withholding tax is treated as a payment on account of the recipient s final tax liability. It may be refunded if it is determined, when a tax return is filed, that the recipient s tax liability to the government which received the withholding tax is less than the tax withheld, or additional tax may be due if it is determined that the recipient s tax liability is more than the withholding tax. In some cases the withholding tax is treated as discharging the recipient s tax liability, and no tax return or additional tax is required. The amount of withholding tax on income payments other than employment income is usually a fixed percentage. In the case of employment income the amount of withholding tax is often based on an estimate of the employee s final tax liability, determined either by the employee ... is required to be done by the employer of someone else, taking the tax payment funds out of the employee ... may also be required by the government to file a tax return self assessing their tax and reporting their withheld payments. Income taxes Wage withholding see also Payroll tax Most developed ... more details
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