It can be achieved both through an improvement in tax collection and a reduction in tax evasion.

28. A tax which has tended to reduce both income and wealth has been the gifts tax, which is on a graduated scale and integrated with estate duty.

Taxes, revenues, uncollectible taxes and tax credits

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.

(b) The introduction of an incentive tax on CO2

As regards the estimated reduction in requirements for staff assessment for the biennium 2006 2007 under section 35, Staff assessment, in the amount of 48,890,000, these will be offset by a reduction of a corresponding amount of income under Income section 1, Income from staff assessment.

Among fiscal measures, the reduction of taxes and the granting of tax breaks in selected areas such as venture capital financing were of particular importance.

Excuse me, excuse me.

Less Decrease in income (other than staff assessment) for (resolution 51 222 B)

For countries not to suffer an unacceptable decline in State revenue, more accurate assessment and duty collection were imperative.

27. The tax system has made a major contribution towards the reduction of disparities in income and wealth.

Similar systems of personal allowances that reduce taxable income based on family size were applied in the majority of national tax systems.

The territorial Government has also determined to try to lessen dependence for revenue on the financial sector by more efficiently collecting revenue elsewhere in the economy.

The reduction of 48,890,000 under section 35, Staff assessment, which will be offset by a corresponding reduction under Income section 1, Income from staff assessment, will be reflected in the recosting of the proposed programme budget for the biennium 2006 2007.

The problem of reduction of poverty has been dealt with, for example, by introducing a parental wage, reducing the income tax, raising the minimum tax exempt income, indexing of pensions, etc.

That had been accomplished by widening the tax base, improving administration efficiency, reducing corporate income tax, introducing a personal income tax of 10 per cent and keeping value added tax at 10 per cent.

33. A further concern is the decline in tax revenues forecast for 1999, owing to the repeal of the Act on a Single Property Tax, tariff reductions, the ending of the commercial and agricultural enterprise tax, which is expected to occur in mid 1999, and the planned cut in income tax rates.

The overall decrease in post requirements is also reflected in reduced requirements under staff assessment offset by an equal amount recorded under income from staff assessment.

Certainly, the tax incentives provided to mining TNCs carry an immediate opportunity cost in terms of lost government revenues.

In Europe, policymakers, including the European Central Bank, demand consolidation for high debt countries, but are flexible in negotiations voters, however, reject it most recently in Italy. In the United States, Republicans propose to balance the budget within ten years by reforming entitlement spending and taxes (with fewer exemptions, deductions, and credits providing the revenue needed to reduce personal tax rates and a corporate rate that, at 35 , is the highest in the OECD).

This drop in revenues may be worsened by the amendments to the laws on free zones, value added tax and income tax adopted in 1997 and 1998, which together have eroded the tax base.

Greenspan s irresponsible support of that tax cut was critical to its passage. The fault was not only in the magnitude of the tax cut, but also in its design by directing the cuts at upper income Americans, it provided little economic stimulus.

Decrease in income (other than staff assessment for (resolution 52 213 B)

Eliminating special interest loopholes, like tax breaks for oil and gas, or for corporate jets, would not yield enough revenue to pay for a meaningful rate cut. And curtailing accelerated depreciation, the manufacturing production deduction, and the R amp D tax credit which account for about 80 of corporate tax expenditures would involve significant tradeoffs.

Eliminating special interest loopholes, like tax breaks for oil and gas, or for corporate jets, would not yield enough revenue to pay for a meaningful rate cut. And curtailing accelerated depreciation, the manufacturing production deduction, and the R D tax credit which account for about 80 of corporate tax expenditures would involve significant tradeoffs.

But a rate cut would be costly in terms of foregone revenues each percentage point would reduce corporate tax revenues by about 100 billion over the next decade. Moreover, recent studies indicate that a significant share of the corporate tax burden falls on capital, so a reduction in corporate taxes would weaken the progressivity of the tax system at a time when income inequality is at an all time high.

(b) Less 20,809,400 dollars, being the estimated decrease in income from staff assessment approved by the Assembly in resolution B above

(b) Less 690,100 dollars, being the estimated decrease in income from staff assessment approved by the Assembly in resolution B above

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

Governments should also work to improve tax compliance and reduce evasion, which requires limiting tax officials discretionary authority. Computerizing tax administration, for example, could help to limit corruption by making it more difficult to tamper with records.

30. The Government has reformed the tax structure, reducing overall rates while widening coverage through improved efficiency in collection.

(i) Establishment of a fiscal policy to redistribute income and heavy taxation of unproductive and speculative financial capital with the reduction of taxes on basic consumer goods

They may arbitrarily undercharge or overcharge taxes and duties on commercial transactions to the point of extortion.

Taxation, Pension and Gratuity. Within the taxation system in Pakistan, there is no direct or indirect linkage between taxes tax credits and nature or size of the family.

Sliding export taxes and other tax incentives, for both local and foreign investors, played an important role in vertical diversification.

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.

Republicans have proposed tax reforms in lieu of rate hikes on high income taxpayers to raise revenues for deficit reduction. Obama has signaled that he is willing to consider this approach, provided it increases tax revenues from the top 2 3 by at least the same amount as higher rates while protecting other taxpayers.

Little progress has been made on the tariff reduction formula.

However, the Government has not been enforcing the clauses of the license agreement, leading to lower taxes paid to the Government.

It does not envisage using increased taxation at the local level as an instrument for reducing GHG emissions.

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

Southern Europe could shrink its taxes and social services substantially

Also, while tariff barriers were coming down, non tariff barriers were going up many times over.

The concept of fraud includes all actions intended to reduce tax liability or evade taxation.

(b) Less 23,461,600 dollars, being the decrease in income from staff assessment for the biennium 1996 1997 approved by the Assembly in its resolution 52 215 A.