International Taxpayer Leaders Forum Newsletter, N.39
11 December 2015 | Americans for Tax Reform (ATR) / United States
International Taxpayer Leaders Forum Newsletter, N.39 – Dec 7, 2015
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North America
Online Shopping Tops Stores on Black Friday Weekend
Holiday shopping isn’t what it used to be. A National Retail Federation survey on Sunday found that more people shopped online than in stores during the Thanksgiving and Black Friday weekend, a sign of how quickly and deeply American shopping habits have changed. Continue Reading
Pentagon Crew Lived Large in $150 Million Afghan Villas
A Pentagon task force established in 2006 to help lure private businesses first to Iraq and then Afghanistan allegedly blew as much as $150 million on lavish villas in Afghanistan for a few lucky members of its staff—instead of lodging them cheaply, or for free, at the U.S. embassy or any one of numerous large American military bases in the war-torn country. Continue Reading
GM / Chrysler Bailout Cost Canadian Taxpayers $3.7 Billion
The Canadian Taxpayers Federation (CTF) today released an analysis of the 2009 government bailouts of GM and Chrysler, finding that once the sale of stock and repayments are accounted for, the final cost to Ontario and federal taxpayers was approximately $3.7 billion. Continue Reading
War over soda taxes coming to a polling place near you
Government do-gooders and conservatives worried that America is becoming a nanny state have one more thing to fight about in 2016: Soda taxes. Public health advocates, flush from victories in Mexico and Berkeley, Calif., are plotting to bring voter referendums and legislation to tax soda in as many as a dozen U.S. cities in 2016. It’s all part of an international strategy backed by billionaires in New York and Texas, including former New York City Mayor Michael Bloomberg, to reduce consumption of sodas, juices and other sugary drinks in the fight against spiraling rates of obesity, diabetes and other diet-related diseases. Continue Reading
Four Principles to Boost America’s Economic Ladder of Opportunity
In conversations with statists, I’ve learned that many of them actually believe the economy is a fixed pie. This misconception leads them to think that rich people get rich only by somehow making others poor.In this simplistic worldview, a bigger slice for one person means less for everyone else. In reality, though, their fixation on the distribution of income leads them to support policies that hinder growth. Continue Reading
Everything You Need to Know about Deductions, Loopholes, and Special-Interest Tax Provisions
Why does the tax code require more than 10,000,000 words and more than 75,000 pages?There are several reasons and none of them are good. But if you had to pick one cause for all the mess, it would be the fact that politicians have worked with interest groups and lobbyists to create myriad deductions, credits, exclusions, preferences, exemptions, and other loopholes. Continue Reading
Millennials Pay Very Little in Income Taxes
Almost every day, I see another article about millennials – the cohort of Americans born between 1980 and 2000 that are “forging a distinct path into adulthood” and “reshaping America.” But surprisingly, not much has been written about millennials and U.S. tax policy. Continue Reading
CANADIAN TAXPAYERS FEDERATION CALLS ON ONTARIO GOVERNMENT TO SCRAP GREEN ENERGY ACT AND END CORPORATE WELFARE IN WAKE OF AG REPORT
The Canadian Taxpayers Federation (CTF) is calling on the Wynne government to scrap the Green Energy Act and end all corporate welfare payments in light of today’s Auditor General report. Among other findings, the Auditor General found that Ontario electricity consumers will pay a total of $9.2 billion more for solar and wind projects as a result of the Ontario government’s Green Energy Act, which provides 20-year guaranteed prices for wind and solar. Continue Reading
ATR Urges Lawmakers to Oppose the Solar ITC and Wind PTC
As lawmakers meet this week during negotiations over the tax extenders deal, Americans for Tax Reform (ATR) encourages them to oppose any efforts to extend the Investment Tax Credit (ITC) for solar past 2016 and also urges opposition to reviving the Production Tax Credit (PTC) for wind. American taxpayers have already been forced to pay billions in handouts to the wind and solar industries and the time has come to end such anti-free market practices. Continue Reading
Europe
EU to Announce Probe Into McDonald’s Tax Affairs
McDonald’s Corp. will become the fourth U.S. multinational to be targeted by European Union regulators as part of a widening investigation into alleged illegal tax deals, two people familiar with the matter said Wednesday. Continue Reading
Dixon: EU-Turkey deal is historic, if it sticks
The deal agreed between the European Union and Turkey on Nov. 29 is historic – provided it sticks. The EU has dangled the prospect that Turkey can join the Union, offered its citizens visa-free travel throughout most of the bloc and promised the government a chunk of cash in return for Ankara agreeing to stem the flow of migrants to Europe. Not all of the pact looks deliverable – but some big issues look closer to being addressed. Continue Reading
Sweden to return 22,000 migrants
Swedish police faced by the end of October a task of deporting 21,748 people from the country, reports daily Aftonbladet. It is the largest number ever. As many as 14,140 of the people have disappeared and are registered by the police as being “wanted.” Continue Reading
Finding The Best Management Accountant In Rotterdam
If you own an organization or work in one, you understand the importance of finding a reliable management consultant. You need someone who will help you to monitor the flow of cash in your organization so that you can track your expenditures and income apart from planning for the future. The following tips should help you to find a reliable management accountant in Rotterdam. Continue Reading
Taxation trends in the European Union
This report contains a detailed statistical and economic analysis of the tax systems of the Member States of the European Union, plus Iceland and Norway, which are Members of the European Economic Area. The main body of the report is a set of ‘country chapters’ which give an overview of the main trends in taxation for each of the 30 countries covered by the report. The chapters have a standardized layout: the first page contains a summary table and graphs showing trends in the country’s tax revenues under the main tax headings for the period 2004 to 2013. Continue Reading
Sadly, The OECD Entirely Misunderstands Corporate Taxation
It’s OK, well it’s sorta OK, when politicians bloviating away shout that companies have to pay their fair share of taxes. It’s a great deal more worrying when an organisation supposedly there to give us all the accurate skinny on economics does the same thing. For it’s an absolutely standard part of the basic economics of taxation that corporations just do not pay taxes. Continue Reading
Asia
Start-up North Korea?
North Korea usually only makes the news due to renewed military aggression, or when a defector publishes an account of their escape. Rarely is there any positive news coming out of the most isolated economy in the world. But today, the Washington Post reports on a hopeful new development in the Hermit Kingdom: the establishment of 20 “economic zones”, where residents will be allowed to experiment with capitalism. Continue Reading
ASEAN issues await the next Philippine president
The 2016 presidential election in the Philippines may yet to be the most challenging in the country’s electoral history. Apart from varied domestic concerns and problems, divisive regional issues await the next president of the Philippines. Continue Reading
Ibero America
The big picture of Argentina’s elections
The results of the second round of Argentina’s presidential elections will very likely provoke a major reconfiguration both in the country and in South America. On the one hand, the very structure of power of the Peronist party has been severely damaged. On the other, Argentina has provided a region victimized by populism with a success story on overcoming the tragedy. Continue Reading
Venezuelan Opposition Wins Congressional Midterm Elections
Venezuela’s opposition, riding a wave of voter anger amid a deep economic crisis, swept to a big victory in midterm elections on Sunday, delivering a major blow to the ruling Socialist party and President Nicolás Maduro. Continue Reading
Venezuela Votes “No” to Socialism
After 17 years of economic and societal deterioration under the rule of the socialist party, Venezuelan’s took action. In yesterday’s elections, the Democratic Unity Roundtable (MUD) won 99 seats in Parliament compared to only 46 for the established United Social Party of Venezuela (PSUV). Continue Reading
Africa
What does China’s role in Africa say about its growing global footprint?
China’s ties to Africa are likely to get stronger this year as the world’s biggest economy appears poised to once again double its investments across the fast-growing continent. The run-up to the sixth Forum on China-Africa Cooperation (FOCAC) to be held early next month in South Africa is under way. The forum – in its 15th year and the first held under President Xi Jinping’s administration – has been the main venue for setting the investment, trade and integration agenda between China and countries in Africa. Continue Reading
Manufacturers say the innovation statement needs to include tax breaks for intellectual property
With the federal government about to unveil new policies in the innovation statement today, a new study suggests Australia needs more competitive taxation for intellectual property. The Australian Advanced Manufacturing Council (AAMC) report focuses on “knowledge-rich manufacturing”. Countries must compete with each other to attract investment, both by foreign and domestic companies, it says. Continue Reading
Australia
Manufacturers say the innovation statement needs to include tax breaks for intellectual property
With the federal government about to unveil new policies in the innovation statement today, a new study suggests Australia needs more competitive taxation for intellectual property. The Australian Advanced Manufacturing Council (AAMC) report focuses on “knowledge-rich manufacturing”. Countries must compete with each other to attract investment, both by foreign and domestic companies, it says. Continue Reading
Free Trade
Wilson Perspectives: The Trans-Pacific Partnership
By any measure, the Trans-Pacific Partnership (TPP) is the 21st century’s most significant trade agreement. In 30 chapters and more than 5,000 pages, it lays down new rules of the road for 12 countries, 40 percent of the world economy, and 26 percent of world trade. From Latin America to the Asia-Pacific, on issues from workers’ rights to digital commerce, this deal will have an impact. It takes a wide-angle, multidisciplinary lens to study all of its aspects. Continue Reading
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