Financial Transaction Taxes
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Creating Market Incentives for Greener Products Policy Manual for Eastern Partnership Countries
Creating Market Incentives for Greener Products Policy Manual for Eastern Partnership Countries Creating Incentives for Greener Products Policy Manual for Eastern Partnership Countries 2014 About the OECD The OECD is a unique forum where governments work together to address the economic, social and environmental challenges of globalisation. The OECD is also at the forefront of efforts to understand and to help governments respond to new developments and concerns, such as corporate governance, the information economy and the challenges of an ageing population. The Organisation provides a setting where governments can compare policy experiences, seek answers to common problems, identify good practice and work to co-ordinate domestic and international policies. The OECD member countries are: Australia, Austria, Belgium, Canada, Chile, the Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Israel, Italy, Japan, Korea, Luxembourg, Mexico, the Netherlands, New Zealand, Norway, Poland, Portugal, the Slovak Republic, Slovenia, Spain, Sweden, Switzerland, Turkey, the United Kingdom and the United States. The European Union takes part in the work of the OECD. Since the 1990s, the OECD Task Force for the Implementation of the Environmental Action Programme (the EAP Task Force) has been supporting countries of Eastern Europe, Caucasus and Central Asia to reconcile their environment and economic goals. About the EaP GREEN programme The “Greening Economies in the European Union’s Eastern Neighbourhood” (EaP GREEN) programme aims to support the six Eastern Partnership countries to move towards green economy by decoupling economic growth from environmental degradation and resource depletion. The six EaP countries are: Armenia, Azerbaijan, Belarus, Georgia, Republic of Moldova and Ukraine. -
Financial Transactions
FACT SHEET Financial Transactions KYRIBA FACT SHEET Financial Transactions Kyriba’s Financial Transactions supports the tracking and management of debt, foreign exchange, interest rate and investment transactions through a centralized dashboard available to the treasury team and other departments. The solution provides comprehensive capabilities across all transaction types, meeting your organization’s specific needs both today and into the future. Key Capabilities: • Debt, FX, IR derivatives, The lack of visibility into an organization’s investing and borrowing can leave investment transaction tracking the treasury department feeling exposed to risk and possible fraud. Tracking and and management managing the organization’s financial transactions should be easy and not burden • Kyriba Market Data option via SIX the productivity of an already busy staff. Financial transaction activities should Telekurs also be integrated with other functions, such as cash position, cash forecasts and • Seamless integration with Kyriba payments in order to have complete, timely and accurate visibility. modules • Multi-currency translation Kyriba’s Financial Transactions delivers a comprehensive set of capabilities that • Document attachment and audit enables clients to easily manage and track a broad set of financial transactions. trails Kyriba delivers the control that treasury departments require, with tracking, • Powerful reporting capabilities management and valuation – all seamlessly integrated with accounting and other Software-as-a-service (SaaS): treasury functions through Kyriba’s leading cloud platform. • No maintenance fees – subscription-based Kyriba’s Financial Transactions provides visibility into the investing, borrowing, Security: trading, hedging and intercompany activities that are required to make better • SOC 1 and SOC 2 compliant decisions, gain control and improve financial processes and reporting. -
Environmental Taxes and Subsidies: What Is the Appropriate Fiscal Policy for Dealing with Modern Environmental Problems?
William & Mary Environmental Law and Policy Review Volume 24 (2000) Issue 1 Environmental Justice Article 6 February 2000 Environmental Taxes and Subsidies: What is the Appropriate Fiscal Policy for Dealing with Modern Environmental Problems? Charles D. Patterson III Follow this and additional works at: https://scholarship.law.wm.edu/wmelpr Part of the Environmental Law Commons, and the Tax Law Commons Repository Citation Charles D. Patterson III, Environmental Taxes and Subsidies: What is the Appropriate Fiscal Policy for Dealing with Modern Environmental Problems?, 24 Wm. & Mary Envtl. L. & Pol'y Rev. 121 (2000), https://scholarship.law.wm.edu/wmelpr/vol24/iss1/6 Copyright c 2000 by the authors. This article is brought to you by the William & Mary Law School Scholarship Repository. https://scholarship.law.wm.edu/wmelpr ENVIRONMENTAL TAXES AND SUBSIDIES: WHAT IS THE APPROPRIATE FISCAL POLICY FOR DEALING WITH MODERN ENVIRONMENTAL PROBLEMS? CHARLES D. PATTERSON, III* 1 Oil spills and over-fishing threaten the lives of Pacific sea otters. Unusually warm temperatures are responsible for an Arctic ice-cap meltdown. 2 Contaminated drinking water is blamed for the spread of avian influenza from wild waterfowl to domestic chickens.' Higher incidences of skin cancer are projected, due to a reduction in the ozone layer. Our environment, an essential and irreplaceable resource, has been under attack since the industrial age began. Although we have harnessed nuclear energy, made space travel commonplace, and developed elaborate communications technology, we have been unable to effectively eliminate the erosion and decay of our environment. How can we deal with these and other environmental problems? Legislators have many methods to encourage or discourage individual or corporate conduct. -
Her Majesty's Revenue and Customs (HMRC)
BREACH OF THE CODE OF PRACTICE FOR OFFICIAL STATISTICS This document reports a breach of the Code of Practice for Official Statistics, or the relevant Pre-release Access to Official Statistics Orders, to which the Code applies as if it included these orders. 1. Background information Name of Statistical Output (including weblink to the relevant output or ‘landing page’) HMRC Tax Receipts and National Insurance Contributions for the UK https://www.gov.uk/government/statistics/hmrc-tax-and-nics-receipts-for-the-uk#history Name of Producer Organisation HM Revenue and Customs Name and contact details of the statistical Head of Profession (Lead Official in an Arm’s Length Body) submitting this report, and date of report Sean Whellams, Head of Profession for Statistics, HMRC, 7th June 2016 2. Circumstances of breach Relevant Principle/Protocol and Practice Principle 4 – Practice 3 3. Adopt quality assurance procedures, including the consideration of each statistical product against users’ requirements, and of their coherence with other statistical products. Date of occurrence 19 June 2015, 22 March 2016, 21 April 2016, 24 May 2016 Nature of breach (including links with previous breaches, if any) The HMRC tax receipts and national insurance contributions for the UK statistics are published monthly. The May release was published at 9.30am on 24th May 2016 containing incorrect tax credit figures relating to the monthly data from April 2015 to March 2016. An external user contacted the department at 13:55 on 24th May 2016 enquiring about the tax credit figures in the publication, prompting investigation and identification of the error. -
International Tax Cooperation and Capital Mobility
CEPAL CEPALREVIEW REVIEW 77 • AUGUST 77 2002 65 International tax cooperation and capital mobility Valpy FitzGerald University of Oxford The international mobility of capital and the geographical edmond.fitzgerald @st-antonys.oxford.ac.uk dispersion of firms have clear advantages for the growth and modernization of Latin America and the Caribbean, but they also pose great challenges. Modern principles of capital taxation for open developing economies indicate the need to find the correct balance between the encouragement of private investment and the financing of social infrastructure, both of which are necessary for sustainable growth. This balance can be sub-optimal when countries compete for foreign investment by granting tax incentives or applying conflicting principles in determining the tax base. The fiscal authorities of the region could obtain a more equitable share of capital tax revenue, without depressing investment and growth, through more effective regional tax rules, double taxation treaties, information sharing and treatment of offshore financial centres along the lines already promoted for OECD members. INTERNATIONAL TAX COOPERATIONAUGUST AND CAPITAL 2002 MOBILITY • VALPY FITZGERALD 66 CEPAL REVIEW 77 • AUGUST 2002 I Introduction Globalization involves increasing freedom of capital for developing as well as developed countries. Latin movement: both for firms from industrialized countries America and the Caribbean have been at the forefront investing in developing countries, and for financial asset of the liberalization -
FINANCE Offshore Finance.Pdf
This page intentionally left blank OFFSHORE FINANCE It is estimated that up to 60 per cent of the world’s money may be located oVshore, where half of all financial transactions are said to take place. Meanwhile, there is a perception that secrecy about oVshore is encouraged to obfuscate tax evasion and money laundering. Depending upon the criteria used to identify them, there are between forty and eighty oVshore finance centres spread around the world. The tax rules that apply in these jurisdictions are determined by the jurisdictions themselves and often are more benign than comparative rules that apply in the larger financial centres globally. This gives rise to potential for the development of tax mitigation strategies. McCann provides a detailed analysis of the global oVshore environment, outlining the extent of the information available and how that information might be used in assessing the quality of individual jurisdictions, as well as examining whether some of the perceptions about ‘OVshore’ are valid. He analyses the ongoing work of what have become known as the ‘standard setters’ – including the Financial Stability Forum, the Financial Action Task Force, the International Monetary Fund, the World Bank and the Organization for Economic Co-operation and Development. The book also oVers some suggestions as to what the future might hold for oVshore finance. HILTON Mc CANN was the Acting Chief Executive of the Financial Services Commission, Mauritius. He has held senior positions in the respective regulatory authorities in the Isle of Man, Malta and Mauritius. Having trained as a banker, he began his regulatory career supervising banks in the Isle of Man. -
Country Update: Australia
www.pwc.com Country update: Australia Anthony Klein Partner, PwC Australia Liam Collins Partner, PwC Singapore Agenda 1. Economic and social challenges 2. Tax and politics 3. Recent developments 4. 2015 Federal Budget – key announcements 5. Regulatory environment – changes at the ATO 6. Q&A Global Tax Symposium – Asia 2015 PwC 2 Economic and social challenges Global Tax Symposium – Asia 2015 PwC 3 $ billion 10,000 12,000 14,000 ‐ 2,000 4,000 6,000 8,000 2,000 PwC Tax – Symposium Global 2015 Asia Economic outlook 0 Australia’s net debt levels, A$ billion net debt levels, Australia’s 2002‐03 2003‐04 2004‐05 2005‐06 2006‐07 2007‐08 2008‐09 2009‐10 2010‐11 2011‐12 2012‐13 2013‐14 2014‐15 2015‐16 Commonwealth 2016‐17 2017‐18 2018‐19 2019‐20 Current year 2020‐21 2021‐22 2022‐23 States 2023‐24 2024‐25 and 2025‐26 territories 2026‐27 2027‐28 2028‐29 2029‐30 2030‐31 Federation 2031‐32 2032‐33 2033‐34 2034‐35 2035‐36 2036‐37 2037‐38 2038‐39 2039‐40 2040‐41 2041‐42 2042‐43 2043‐44 2044‐45 2045‐46 2046‐47 2047‐48 2048‐49 2049‐50 4 Impact of iron ore prices and AUD 1980 to 2015 200.00 1.5000 180.00 1.3000 160.00 140.00 1.1000 120.00 0.9000 Iron Ore Price 100.00 AUD:USD 0.7000 80.00 60.00 0.5000 40.00 0.3000 20.00 0.00 0.1000 Global Tax Symposium – Asia 2015 PwC 5 Domestic challenges Domestic economy • Declining per capita income • Government spending previously underpinned by resources boom – now less affordable • As a consequence, deficits ‘as far as the eye can see’ • A Government short on political capital Demographic challenges • Ageing population -
Recycling Ecotaxes Towards Lower Labour Taxes
Implementing a Double Dividend: Recycling Ecotaxes Towards Lower Labour Taxes Antonio Manresa ([email protected]) Departament de Teoria Econòmica and CREB Universitat de Barcelona 08034-Barcelona, Spain Ferran Sancho ([email protected]) Departament d'Economia Universitat Autònoma de Barcelona 08193-Bellaterra, Spain History: Fist draft April 2002 Revised draft August 2002, October 2002 __________________________________________________________________________ This work has been possible thanks to the financial support of the Regidoria de Medi Ambient de l'Ajuntament de Barcelona. Institutional support from research grants SEC2000-0796 and SGR2001-0029 (first author) and SEC2000-0390 and SGR2001-0164 (second author) are also gratefully acknowledged. Stated opinions are those of the authors and therefore do not reflect the viewpoint of the supporting institutions. Abstract In this paper we follow the tradition of applied general equilibrium modelling of the Walrasian static variety to study the empirical viability of a double dividend (green, welfare, and employment) in the Spanish economy. We consider a counterfactual scenario in which an ecotax is levied on the intermediate and final use of energy goods. Under a revenue neutral assumption, we evaluate the real income and employment impact of lowering payroll taxes. To appraise to what extent the model structure and behavioural assumptions may influence the results, we perform simulations under a range of alternative model and policy scenarios. We conclude that a double dividend –better environmental quality, as measured by reduced CO2 emissions, and improved levels of employment– may be an achievable goal of economic policy. Keywords: double dividend, tax recycling, ecotaxes. JEL code: H21, H22, C68 - 2 - 1. Introduction One of the most controversial topics in environmental public economics is the viability of a double dividend ensuing a fiscal reform. -
More Than 50 Years of Trade Rule Discrimination on Taxation: How Trade with China Is Affected
MORE THAN 50 YEARS OF TRADE RULE DISCRIMINATION ON TAXATION: HOW TRADE WITH CHINA IS AFFECTED Trade Lawyers Advisory Group Terence P. Stewart, Esq. Eric P. Salonen, Esq. Patrick J. McDonough, Esq. Stewart and Stewart August 2007 Copyright © 2007 by The Trade Lawyers Advisory Group LLC This project is funded by a grant from the U.S. Small Business Administration (SBA). SBA’s funding should not be construed as an endorsement of any products, opinions or services. All SBA-funded projects are extended to the public on a nondiscriminatory basis. MORE THAN 50 YEARS OF TRADE RULE DISCRIMINATION ON TAXATION: HOW TRADE WITH CHINA IS AFFECTED TABLE OF CONTENTS PAGE EXECUTIVE SUMMARY.............................................................................................. iv INTRODUCTION ................................................................................................................ 1 I. U.S. EXPORTERS AND PRODUCERS ARE COMPETITIVELY DISADVANTAGED BY THE DIFFERENTIAL TREATMENT OF DIRECT AND INDIRECT TAXES IN INTERNATIONAL TRADE .............................................. 2 II. HISTORICAL BACKGROUND TO THE DIFFERENTIAL TREATMENT OF INDIRECT AND DIRECT TAXES IN INTERNATIONAL TRADE WITH RESPECT TO BORDER ADJUSTABILITY................................................................. 21 A. Border Adjustability of Taxes ................................................................. 21 B. 18th and 19th Century Examples of the Application of Border Tax Adjustments ......................................................................... -
Taxation of Cross-Border Mergers and Acquisitions
KPMG INTERNATIONAL Taxation of Cross-Border Mergers and Acquisitions Jersey kpmg.com 2 | Jersey: Taxation of Cross-Border Mergers and Acquisitions Jersey Introduction Recent developments Jersey is a dependency of the British Crown and benefits The EU Code of Conduct on Business Taxation Group from close ties to both the United Kingdom, being in the assessed Jersey’s zero/ten tax system in 2011. The same time zone and having a similar regulatory environment assessment found that the interaction of the zero percent and business culture, and Europe. With its long tradition of rate and the deemed dividend and full attribution provisions to political and economic stability, low-tax regime and economy be harmful. The dividend and attribution provisions sought to dominated by financial institutions, Jersey is an attractive assess Jersey resident individual shareholders on the profits location for investment. of Jersey companies subject to the zero percent rate. As a result of the assessment, legislation was passed to abolish The island has undertaken steps to counter its tax haven the deemed distribution and full attribution taxation provisions image in recent times. It was placed on the Organisation for for profits arising on or after 1 January 2012, thereby removing Economic Cooperation and Development (OECD) white list the harmful element of the regime. The EU Code of Conduct in April 2009. In September 2009, the International Monetary on Business Taxation Group accepted Jersey’s position Fund issued a report in which it commented that financial and submitted to the EU’s Economic and Financial Affairs sector regulation and supervision are of a high standard and Council (ECOFIN) that Jersey had rolled back the harmful comply well with international standards. -
Forecasting Scottish Taxes
© Crown copyright 2012 You may re-use this information (not including logos) free of charge in any format or medium, under the terms of the Open Government Licence. To view this licence, visit http://www.nationalarchives.gov.uk/doc/open- government-licence/ or write to the Information Policy Team, The National Archives, Kew, London TW9 4DU, or e-mail: [email protected]. Any queries regarding this publication should be sent to us at: [email protected] ISBN 978-1-84532-963-1 PU1300 Contents Introduction......................................................................................... 1 Chapter 1 The OBR's role in forecasting Scottish taxes ........................................... 3 Scotland Bill .................................................................................... 3 Proposals........................................................................................ 3 Chapter 2 Forecasting Scottish taxes..................................................................... 9 Overview ........................................................................................ 9 Scottish Income Tax ....................................................................... 10 Stamp Duty Land Tax .................................................................... 16 Landfill Tax ................................................................................... 20 Aggregates Levy............................................................................ 21 Methodology note: OBR's forecasting of Scottish -
Annual Report and Accounts 2020
Shareholder information Page Interim dividend for 2020 371 Interim dividends for 2021 371 Other equity instruments 371 2020 Annual General Meeting 371 Earnings releases and interim results 372 Shareholder enquiries and communications 372 Stock symbols 373 Investor relations 373 Where more information about HSBC is available 373 Taxation of shares and dividends 374 Approach to ESG reporting 375 Cautionary statement regarding forward-looking statements 375 Certain defined terms 376 Abbreviations 377 A glossary of terms used in this Annual Report and Accounts can be found in the Investors section of www.hsbc.com. Interim dividend for 2020 The Directors have approved an interim dividend for 2020 of $0.15 per ordinary share. Information on the currencies in which shareholders may elect to have the cash dividend paid will be sent to shareholders on or about 24 March 2021. The interim dividend will be paid in cash with no scrip alternative, as it is dilutive. The timetable for the interim dividend is: Footnotes Announcement 23 February 2021 Shares quoted ex-dividend in London, Hong Kong and Bermuda and American Depositary Shares (‘ADS’) quoted ex-dividend in New York 11 March 2021 Record date – London, Hong Kong, New York, Bermuda 1 12 March 2021 Mailing of Annual Report and Accounts 2020 and/or Strategic Report 2020 and dividend documentation 24 March 2021 Final date for receipt by registrars of forms of election, Investor Centre electronic instructions and revocations of standing instructions for dividend elections 15 April 2021 Exchange rate determined for payment of dividends in sterling and Hong Kong dollars 19 April 2021 Payment date 29 April 2021 1 Removals to and from the Overseas Branch register of shareholders in Hong Kong will not be permitted on this date.