Tax revenue

Head of Tax Treaty Negotiations, Inland Revenue.

Freeport also supplies over half the revenue tax for Jakarta.

So the key to raising revenue is to reduce tax expenditures, use some of the resulting revenue to reduce tax rates, and devote the rest to reducing future deficits. Opponents of tax increases should see that, because such revenue raising is really cutting government spending, it does not imply the adverse incentive effects of raising marginal tax rates.

It reduces tax revenue and thus the resources available for public services .

Major revenue areas import duties, accommodation tax and embarkation tax grew by 16.5, 65.1 and 15.2 per cent, respectively.10

The tax reduction should balance the financial revenue and the affordability of industrial development.

In Europe s highly taxed economies, better tax compliance or selective revenue measures can produce only a small amount of additional tax revenue without undermining growth. Spending cuts are the only way to improve the budget position significantly.

According to WTO, in the mid 1990s, tariff revenue accounted for over 30 per cent of general tax revenue in more than 25 developing countries.

Chief Budget Analyst and Head of Tax Policy Revenue Unit, Ministry of Finance and National Planning.

Lastly, developing country jurisdictions that currently relied upon bank secrecy and tax free treatment for revenue should be assisted in their transitions to other revenue producing activities.

(a) As tariff barriers decline, it is important to find other revenue sources in place of falling trade tax revenue since, in several African countries, such revenue remains a significant part of total revenue. During the transition to non trade sources of revenue, aid flows, aimed at replacing revenue shortfalls from trade liberalization, could be very useful

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.

It's not pulling in as much tax revenue as it once was, but it's serving its community.

The Treasury Office underwent drastic improvements in revenue collections, especially at the Customs Office and Tax Division.

28. There will also be a delay in tax revenue recovery owing to changes in product composition.

On the revenue side, reform should rescind all links between national treasuries and the EU budget, so that the cost of Europe is made directly visible to the Union s citizens. National tax systems should dedicate to Europe the revenue from one particular tax.

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

Previous positions include First Secretary, British Embassy in the United States of America head, Direct Tax Branch, Tax Policy Team, Her Majesty's Treasury and policy Adviser, Inland Revenue.

In many countries, tax reform has already significantly increased the share of direct taxes in overall revenue. Raising tax rates for the wealthiest citizens in developing a more progressive income tax framework would bolster this progress.

It can thus be said that fragmentation is deemed a danger for tax revenue and should be carefully considered.

Half of tax revenue is collected with a value added tax, which is essentially a tax on consumption. Although there is a tax on corporate income, it is integrated with personal taxes in a way that reduces its adverse effect on investment and production.

Although non tax revenue may contribute significantly to some countries total GDP, the average tax GDP ratios in low income and lower middle income countries are roughly 15 and 19 , respectively significantly lower than the OECD average of more than 35 . To finance development projects, poor and lower middle income countries must devise and implement tax strategies to increase domestic revenue.

While this may enhance the overall profitability of a firm, it may also imply reduced tax revenue for the home economy.

In addition, the national savings rate increased despite the dissaving in the public sector created by the decrease in tax revenue.

The social insurance subsystem is funded primarily by payments and contributions (11 and 16 per cent, respectively) and by tax revenue.

Perhaps the most promising reform is corporate tax reduction, which will help Japan boost both foreign and domestic investment. By spurring increased business activity, it will actually increase Japan s corporate tax revenue.

Examples of individual and group administrations benefiting from tax revenue generated from public assets and private business are shown in annex IV.

For the first time since Dayton, new revenue distribution arrangements (customs revenues and most excise and sales tax revenues) have been launched.

Tax revenue can be raised without increasing marginal tax rates by limiting the tax subsidies that are built into the current tax code. Those subsidies are a hidden form of government spending on everything from home mortgages and health insurance to the purchase of hybrid cars and residential solar panels.

For example, we can choose how much to collect via a general income tax, a payroll tax, a consumption tax (such as a sales or value added tax), and so on. We can also choose how much revenue to raise today, rather than in the future (by varying the fiscal deficit).

Previous positions include principal economist (tax policy), Ministry of Finance and National Planning and senior revenue analyst, Ministry of Finance and National Planning.

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.

Instead of cutting proven tax incentives for business investment, the US should offset at least some of the revenue losses from a lower corporate tax rate by raising tax rates on corporate shareholders. Most countries that reduced their corporate tax rates have followed this path, while the US has done the opposite.

Options include international debt financing, domestic tax revenue and user fees, borrowing in domestic capital markets, and public private partnerships for water related investments.

Between 2003 and 2005, an ambitious and innovative tax reform had been carried out, which had led to a significant increase in government revenue.

Either the FlCA tax goes up, so based on the number of people working here you get more revenue per person right over here.

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.

Similarly, a modest carbon tax or value added tax, with credits or subsidies to offset the regressive effects on low income households, could generate enough revenue both to pay for a significant reduction in the corporate tax rate and to make a meaningful contribution to deficit reduction.

Fiscal discipline remains essential, as are deep structural reforms. The growth pact can be properly financed by new sources of revenue, such as a financial transaction tax and joint project bonds for infrastructure investment, or by curbing tax evasion and tax fraud and eliminating tax havens, as well as by more efficient and intelligent use of structural funds.

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.

For instance, policies that entail additional spending on SME development can be justified by additional tax revenue that would be generated by a flourishing enterprise sector.

Non fiscal revenue Oil revenue and gas royalties

Governor Turnbull argued that the revenue picture had changed completely because of the new federal tax laws and their impact on the Territory's Economic Development Commission programme.

For instance, policies that entail additional expenditure on SME development could be justified by the added tax revenue that would be generated by a flourishing enterprise sector.