NBER WORKING PAPER SERIES DO TAX HAVENS FLOURISH? James R. Hines Jr. Working Paper 10936 http://www.nber.org/papers/w10936 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge‚ MA 02138 November 2004 I am indebted to Claudia Martinez for excellent research assistance‚ to her and to Rosanne Altshuler‚ Reuven Avi-Yonah‚ Daniel Mitchell‚ Joel Slemrod‚ and particularly James Poterba‚ for helpful comments on previous drafts of this paper.The views expressed herein are those of
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The Buffett Rule and Tax Reform As the tax cuts enacted by George W Bush during his presidency come to a close‚ the importance of reconciling spending and taxation has produced a spirited debate as to the best manner in which to solve the debt crisis. One voice in the debate is that of Warren Buffett‚ Chairman and CEO of the holding company Berkshire Hathaway and one of the richest men in the world. He has come out against the status quo tax policies‚ stating “My friends and I have been coddled
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and Democrats unanimously agree that our current tax system is corrupt. The countless years of adding and removing policies have made our tax codes more confusing than they need to be. That is why the United States should introduce an easier and more “down to earth” form of taxation‚ a flat tax. The flat tax is a policy where everyone pays the same percentage of their income annually. Although some people prefer the current tax structure‚ a flat tax system would eliminate other taxes‚ allow more people
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Abstract In Tschetschot v. Commissioner‚ 93 TCM 914 (2007)‚ the tax court ruled that taxpayer’s losses from participating in tournament poker were limited to the amount of her winnings. The court held that tournament poker is‚ despite its differences from other types of poker‚ essentially a wagering activity and therefore should not be treated differently from other forms of gambling for tax purposes. The court also rejected the taxpayer’s equal protection argument to treat tournament poker as sports
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Chapter 07 Individual Income Tax Computation and Tax Credits True / False Questions 1. Both the width (or range) of the tax brackets (the amount of income taxed at a particular rate) in the tax rate schedules and the range of the tax rates in the tax rate schedules (the difference between the lowest tax rate and the highest tax rate) vary by filing status. True False 2. The tax rate schedules are set up to tax lower levels of income at higher tax rates than higher levels of income.
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Alternative minimum tax (AMT) was created in 1969 by the Tax Reform Act to make certain that high-income individuals‚ corporations‚ trusts‚ and estates pay at least some small amount of tax‚ in spite of any deductions‚ credits‚ or exemptions. It’s basically an alternative method used by the IRS for calculating your taxes‚ an extra tax that was an addition to regular income tax. To calculate your AMT you start with your AGI (adjusted gross income)‚ then you give back the “tax preference items” and
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Corporate Risk management /Multinational tax management Corporate risk management AKA managing exchange rate risk. The key issues from this week’s lecture are the effects of changes in exchange rates‚ volatility in the exchange rate markets and how corporations can hedge against this risk. Looking at how to manage 3 types of exposure- transaction exposure‚ translation exposure and economic exposure. Multinational tax management looks at how international corporations pay different taxes in different
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Marlene B. Escamillan 4E1 The impact of sin tax on the consumer’s demand for cigarettes Introduction The raise in tax is one of the most valuable gauges to lessen the utilization of a good. Just the same as other taxes‚ a sin tax is charged to lift up proceeds for government expenditures. Different from other taxes‚ a sin tax is often imposed with an intention of reducing the public’s consumption of a good. On the other hand‚ when you articulate about taxing cigars and alcoholic beverages
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Monday‚ November 21‚ 2011 Tax Structure & Policy Suggestions: Bangladesh Case 1 Introduction The main tax grossing or revenue collecting institution is generally known as National Board of Revenue (NBR). And as the central authority of tax policy and administration in Bangladesh‚ it plays a critical part in the development of the country. During the current fiscal year (FY 2010-11)‚ NBR is expected to collect Taka 75‚600 crore‚ providing much needed support to the government’s development
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“Van Tho” in An Giang. Then she opened the second shop in Can Tho at Ngo Duc Ke Street. The problem is that when opening the second shop‚ she is asked to pay the excise tax (massage business is one of the taxable objects). However‚ she is not asked to do that at An Giang and even be exempt from paying any tax except the license tax because of the characteristic of her business (business for society‚ specifically the blind). So‚ does the action of taxing on her business –a business for the blind-against
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