Baird introduces extensive health care, tax code reforms Oct 22, 2009
just the facts, ma'am wrote on Oct 21, 2009 6:33 AM:" This has real potential, provided any sort of "progressive national sales tax" (which is the Value Added Tax, or VAT) is coupled with a guaranteed repeal of the 16th ammendment/abolishment of income taxes. If it is coupled with any sort of income tax, it is highly regressive and gives govt. greater power to increase taxes at whim. The tax should also be listed on every sale, as it is in the Canadian system, otherwise it is too easily hidden,... (Longview Daily News, WA)
Dollar's drop no cause to worry, for now Oct 21, 2009
Those could include reforming the tax code -- perhaps by introducing a value added tax along with lower capital gains taxes-- to allow Americans to boost savings and pay off their debts. But that would slow U.S. consumer spending, which drives the global economy, and require other nations to pick up the slack, he said. (Xinhuanet, China)
Nigeria: Local Airlines May Collapse, Operators Cry Out Oct 19, 2009
Furthermore, they complain about double taxation on aircraft parts (Customs Duties and Value Added Tax) which they said had a huge toll on airlines' finances. Only recently, the Nigeria Airspace Management Agency (NAMA ) introduced Terminal and Navigational charges, which is the payment for the use of navigational aids at the airports by the airlines. (allAfrica.com)
Nobel Peace Prize“then and now Oct 16, 2009
Bill Arthur wrote on Oct 15, 2009 10:20 PM:" It is unfortunate that most of you cannot understand a direct comparison. I am not ranting, I am trying to relay the historical background of how the Nobel prize for Peace was once awarded. Sorry i don't find much desirable about Obama, but then again if you see us heading in a good direction, then I can see your point.Teddy Roosevelt was a man of great irony--he was like Obama in some ways, but not when it came to what he regarded as our nation's... (Cameron Observer, MO)
China figures lift hopes for recovery Oct 15, 2009
To support exporters, China has raised value added tax rebates on exports several times in the past year, increased tax refunds and improved export credit insurance. The central bank has also effectively halted the yuan's rise against the dollar since July 2008. (BBC News -- Asia-Pacific)
Cost of Freedom Recap Oct 14, 2009
That consideration of a value added tax is part of an overall tax reform proposal; a tax reform idea ... She's talking about putting a VAT (value added tax) in there as part of overall tax reform. (Fox News)
Tuobodom inaugurates new school block Oct 14, 2009
Mr. Kyeremeh said over the years the tax system took account of a small section of the population but the positive result of the introduction of the Value Added Tax had significantly propelled the education sector. He advised parents to take pride in their children "who are the embodiment of the country's heritage" and it was imperative each member of the community became conscious of his or her responsibility towards the proper upbringing of children. (Ghana Web, Ghana)
SouthGobi Energy Resources Increases Its NI 43-101 Compliant Measured and Indicated Coal Resource Base in Mongolia by 39% From 221.2 Million Tonnes to 307.6 Million Tonnes Oct 13, 2009
In addition, analyses were performed to determine project sensitivity to such factors as railing the coal to China, assuming an exemption to the current Value Added Tax (VAT) refund law, and changes in key parameters such as coal price, mining costs, etc. Table 3: Ovoot Tolgoi NPV at Various Discount Rates (8 million tonnes per year). (CCNMatthews Press Releases)
Kenya: Cruise Ships Threaten to Drop Mombasa Oct 12, 2009
Nairobi International cruise ship operators have threatened to pull out of the port of Mombasa, citing high operational costs brought about by newly introduced Value Added Tax on all marine and port services. The lines argue that the move by the Kenya government is unjustified, at a time when business stakeholders in the region's cruise ship industry are grappling with the effects of global economic crunch. (allAfrica.com)
Pelosi says new tax is 'on the table' Oct 7, 2009
Wednesday, October 07, 2009. Pelosi says new tax is 'on the table. (TheHill.com)
Read the 'JER' transcript Oct 6, 2009
GIGOT: And down the road, John, coming, a value added tax. The Center for National Progress or American progress, John Podesta's think tank, who is very close to President Obama, has come out and said it is something we need. (Fox News)
Greenspan favors new taxes to bring down debt Oct 3, 2009
He emphasized the need for new taxes to fund the deficit, but said he personally favored a "value added tax," which assesses an adjustable tax on different stages of production of a good. "It's the least worst way to come at this from the revenue side," Greenspan explained, adding: "I hope that if we do put it on, we take the whole income tax structure and bring it down slightly.". (TheHill.com)
Deserving elderly vs. not-so-deserving kids Sep 26, 2009
Those benefits consequently would have to be funded by income taxes or an entirely new tax, such as a Value Added Tax. Even if the new private plans appeared to provide a better deal than traditional Social Security (which is not case with the Galveston plan), that apparent free lunch would evaporate once the cost of the additional taxes needed to support current beneficiaries was factored into the equation. (Atlanta Journal-Constitution -- Opinion)
Mission chief for Pakistan says aid delivered so far is `very low` Sep 24, 2009
The IMF mission chief said during a recent trip to Pakistan, he had urged the government to raise revenues more quickly via a value added tax (VAT) and to make much-needed improvements in the electricity sector. It is very important to move forward quickly with raising revenues - especially the VAT - both to be able to fund urgent, critical spending and to expand the tax base and make the tax system more equitable, he added. (Daily Times, Pakistan)
FACTBOX-Pakistan's economy Sep 23, 2009
The IMF has been urging the government to boost tax revenue and to implement quickly plans for a value added tax and to broaden tax administration reforms. The Asian Development bank has called for effective measures to build a much larger export base that is sufficient to finance oil, machinery and other essential imports. (AlertNet)
IMF urges donors to deliver on Pakistan aid Sep 23, 2009
Mazarei was in Pakistan earlier this month and said he had urged the government to make greater efforts to raise revenues more quickly via a value added tax (VAT) and to make much-needed improvements in the electricity sector. "The (Pakistani) economy has improved in terms of stability but the economy remains quite vulnerable to the global situation and to domestic policy slippages. Policies need to be strengthened, especially budgetary management," he said. (AlertNet)
Public sector borrowing soaring Sep 19, 2009
The temporary reduction in the rate of Value Added Tax, a measure aimed at stimulating the economy, saw VAT takings down 16. 2. (BBC News -- Business)
Niger Delta Militants Extend Ceasefire Sep 17, 2009
com: Nigeria: MEND Decides on Ceasefire Today (Page 1 of 1). MEND Decides on Ceasefire Today. (allAfrica.com)
Rwanda: Fawe to Construct More Schools Sep 16, 2009
Currently Rwanda is one of the few East African countries that continue to levy a Value Added Tax on sanitary pads of 18. Be the first to. (allAfrica.com)
VAT Taskforce gets tough on importers for evading taxes Sep 15, 2009
Takoradi, Sept. 14, GNA - Reverend John Buabeng, head of the Value Added Tax (VAT) Service Taskforce has tasked traders, who import goods into the country, to supply their tax identification number to the Customs, Excise and Preventive Service (CEPS) or have their goods impounded. He said it was a crime to import one item and label it differently or in some cases, one item could be registered using different names and with the quantities reduced to evade the payment of the appropriate taxes. (Ghana Web, Ghana)
American-Canadian relationship is close -- but complex Sep 13, 2009
What is afoot here is that Canada also has a Value Added Tax on goods, but when they are exported, the manufacturers seek a rebate. This means that a precise value is placed on the goods exported from Canada while such records are not nearly as precise because U.S. exporters don't face the same sort of need for precise valuations. (Pittsburgh Post-Gazette, PA)
Palestinian-Israelitrade looks up Sep 10, 2009
" Under the Paris Protocol of 1994, a part of the Oslo agreement, Israel controls a customs union comprising Gaza and the West Bank. It collects a duty on imports into the West Bank and Gaza, and additionally collects a value added tax (VAT) on goods and services from Israel destined for the Palestinian territories. The Israelis have often withheld these taxes as a political tool, as when Hamas won the 2006 legislative elections. "The Protocol perpetuates Palestinian economic dependence on the... (Asia Times Online)
Mexican Soda Tax May Drag Down Sales, Profits Growth at Coca-Cola Femsa Sep 7, 2009
Mercado ruled out any increase in the 15 percent rate of value added tax, known as IVA, or an end to the exemption from the tax for medicines and food, other than those with high calories and low nutritional value. The opposition Institutional Revolutionary Party, or PRI, which has more deputies than any other group in the 500-member lower house, opposes any increase in IVA, PRI congressman Jesus Alberto Cano Velez said in an Aug. 11 interview. (Bloomberg)
Bailout Nation: Obama and Congress Get F in Economics Sep 7, 2009
Next, a national Value Added Tax or VAT, like the ones in Europe and Canada will be added to all consumer items. A national sales tax of, say, 15% on top of the state sales taxes will be needed. (Human Events Online)
Layne Christensen Reports Second Quarter Fiscal 2010 Earnings Sep 3, 2009
The increased non-income tax expenses for the six months were primarily due to a reassessment in the first quarter of the recoverability of value added tax balances and additional accruals for other non-income tax expenses in certain foreign jurisdictions given recent declines in those economies ... During the six month period in the current year, we had two unusual items, receipt of a litigation settlement in Australia of $2,828,000 and increased non-income tax expense of $2,244,000 due to a... (Primezone Releases)
5 ways you and I help economy grow Aug 30, 2009
We may pay less by avoiding value added tax (VAT) or sales tax, but we are also helping the seller to under-invoice his bills and thus, pay less tax. Bank executive Sumedha Kaul confesses to STOI that it never occurred to her that she was helping generate black money every time she bought a mobile phone on the grey market. (India Times)
Fugitive who embezzled GH238,890 busted Aug 28, 2009
Additionally, he said, the company paid GH364,360 to the Government through the Internal Revenue Service (IRS) as Value Added Tax (VAT). "It also paid GH148,150 representing PAYE deduction from staff remuneration and withholding taxes from the supply of goods and services to the company," he stated, and declared a dividend of GH150,000 to be paid to the government, the sole shareholders. (Ghana Web, Ghana)
How will we pay for it all? Aug 26, 2009
The most tempting source of revenue to lovers of big government is a value added tax. It is tempting because, falling as it does on sales transactions and being incorporated into sale prices, it is much less visible to voters than an income tax. (Asia Times Online)
Second health-care 'phone town hall' goes well Aug 26, 2009
"The entire culture must change, and that will be difficult and there is no guarantee that it is not already become bulletproof like the IRS and the former Selective Service. They've seen all the possible threats and have learned to effectively defend from them. That said, there are some realities we as a society are going to have to face. We make too much money and we don't pay enough taxes. Go do London, a city with an economy virtually identical to that of New York City, and see what their... (Palo Alto Online, CA)
Traditional rulers schooled on revenue mobilization Aug 26, 2009
Participating were personnel of the Customs, Excise and Preventive Service (CEPS), Internal Revenue Service (IRS) and the Value Added Tax (VAT) Service. Mr Ofosuhene said the success of the government to a large extent would depend on its ability to provide the people with development projects to enhance their living conditions. (Ghana Web, Ghana)
Budget: GH150m realized from NHIL 1H09 Aug 26, 2009
Dr Duffuor cited domestic Value Added Tax (VAT), excise and import duties as the main culprits for the negative deviation, whereas a lower external financing of debt and prudent fiscal stance of Government were used to contain the lower-than-expected inflows. "Consequently, the fiscal deficit including divestiture receipts was GH965.4 million, equivalent to 4.5 per cent of GDP. This compares with a targeted deficit of GH1,400.5 million, equivalent to 6.5 per cent of GDP," he added. (Ghana Web, Ghana)
Minister outlines government payments Aug 26, 2009
8 million due to the low performance of domestic Value Added Tax. Transfers into the National Health Insurance Fund (NHIF) was GH116. (Ghana Web, Ghana)
Malawi: Activists Look Askance At New Mine [analysis] Aug 24, 2009
5 percent for the first three years, and three percent thereafter; the company will also be exempt from paying value added tax for up to ten years. The terms of the tax regime are also frozen for the next decade. (allAfrica.com)
US$1.6 billion needed to meet 2015 water coverage target Aug 22, 2009
5 per cent extra was placed on Value Added Tax (VAT) to support the National Health Insurance Scheme (NHIS), even though people need not access the scheme every day to live, like they needed water every day to survive. "We only need the NHIS when we are already ill, but we need water every day to prevent sickness, and yet government sees more wisdom in creating a special tax regime to support a health insurance scheme than for providing potable water," he said. (Ghana Web, Ghana)
Brussels Considers EU-Wide Tax Database Aug 21, 2009
The idea is to prevent "carousel" fraud over value added tax (VAT), which occurs when someone gets VAT-free goods in one country and sells them on VAT-included terms in another state, but disappears before paying the tax. To boost the practical effect of the system, the EU executive also suggested concrete rules on which kind of information should be gathered in national tax databases and how it should be registered to make it easy to compare and use by officers in other states. (BusinessWeek)
Nine held in carbon trading swoop Aug 20, 2009
More than 100 Revenue & Customs officers raided dozens of properties in the south of England over an alleged cross-border fraud to evade value added tax, just weeks after the Treasury imposed emergency rules in an effort to curb the problem. EDITORS CHOICE. (FT.com -- Markets)
Obamacare and Hannan Ignite a Firestorm in Britain Aug 19, 2009
These sums explain why the Conservative Party has not ruled out upping the Value Added Tax (VAT) to 20 percent should the next election turn out the tax and spend Labour Party. VAT (the national sales tax) is charged on most goods and service businesses in the UK. This is on top of the import duties for any foreign made products. (Human Events Online)
China Distance Education Holdings Limited Reports Third Quarter 2009 Results Aug 18, 2009
Net Revenues Increased 78. 3 million, Exceeding Guidance. (PR Newswire)
Obama's health care plan: Can we really afford to extend coverage to those here illegally? Aug 16, 2009
Gator wrote on Aug 9, 2009 9:10 AM:" Jbhiker, aka EinsteinHe is here for a good reason, British health care is aTrain wreck. Here in America medical research is head and shoulders aboveanything else in the world. That is his field and the ability to work in and with the best has great benefits besides pay. Some how I find that hard for you to understand. The Medical system is full of problems that need to bepurged [I.e.] Free loaders as in welfare. The ones who make a life out ofmilking the... (Lodi News Sentinel, CA)
Tethys Petroleum Limited: Second Quarter 2009 Financial Results Aug 15, 2009
21) ----------------------------------------- ----------------------------------------- No dividends were paid or are declared for the period (2008 - $Nil) All operations were continuing throughout the period Three months ended Six months ended June 30, June 30, June 30, June 30, 2009 2008 2009 2008 $ $ $ $ Cash flow from operating activities Loss before income tax for the period (5,593) (5,023) (11,609) (9,634) Adjustments for Share-based payments to employees 916 2,084 1,620 2,925 Net finance... (CCNMatthews Press Releases)
East Africa: Ministers Grant 10-Year Tax Holiday to Exporters Aug 11, 2009
"This means there is almost no tax at all and other incentives include drawback on value added tax and any other taxes on packaging materials that is refunded to the investor at the point of exit for the products," said Uganda Investment Authority (UIA) Deputy Executive Director, Tom Buringuriza. He said this last week at a meeting with a seven-man delegation from the IME Group in the United Kingdom. (allAfrica.com)
Uganda: Have NGOs Contributed to Development? Aug 10, 2009
They create employment and pay significant amounts in import duties, pay as you earn and value added tax, among other taxes, contributing to the growth of the economy. A number of attempts have been made to document the contribution of NGOs to development. (allAfrica.com)
Making a strong case for the Ghana Customs Inspection Company Aug 6, 2009
Such taxes and levies as Value Added Tax, import duty, National Health Insurance Levy and many others provide for the many development projects that we need and clamour for on a daily basis are collected by Customs. Proper Classification of goods imported into a country means that the correct amounts of duties and levies would be collected to aid national development. (Ghana Web, Ghana)
South Africa: Recession Threatens To Aggravate Budget Deficit Aug 4, 2009
On the revenue side, value added tax income has plunged this year as consumer spending falls, while corporate tax is slowing. "We expect corporate income to come under pressure from the lagged impact of the recession on company profits," Naidoo said. (allAfrica.com)
Revamp state's tax system Aug 1, 2009
The revenue lost from those tax cuts would be replaced by higher property taxes on business, a new tax on oil drilling and the addition of a levy known as a "value added tax." The value added tax assesses businesses based on the difference in price between the materials they buy and the products they sell. We're not convinced that these changes would achieve the commission's goal of stoking the economy, but the proposal will definitely provoke a spirited discussion that California badly needs. (Fresno Bee)
Senate Dems pare back health bill Aug 1, 2009
Associated Press Writers. WASHINGTON (AP) Key Senate Democrats, bidding for bipartisan support on health care, pared back subsidies designed to make insurance more affordable on Thursday and floated a compromise that rules out direct government competition against private insurers. (Somerset Daily American, PA)
Work begins to create proposed Downtown Development Authority Jul 31, 2009
Last Updated on Thursday, Jul 30, 2009 - 04:11:37 am MDT. Committee drives effort to revitalize downtown area, businesses; dependent on April special election. (Montrose Daily Press, CO)
Scientific Games Announces Second Quarter 2009 Results Jul 31, 2009
0 million plus a value added tax and the potential for additional compensation if net sales exceed a predetermined level. Separately, the Company entered into a four-year licensing agreement for its lottery system software that provides for revenue based on a percentage of the retail lottery sales generated by the customer above a defined minimum level. (PR Newswire)
Ghanaians should stop looking at issues through NDC, NPP lenses - Veep Jul 28, 2009
He said the Ghanaian printers and publishers had the capacity to print all Ghanaian textbooks but they had remained uncompetitive because they pay 32 per cent tax, which involved Value Added Tax while the books printed abroad attract no tax. Mr Appiah-Berko said each publisher had the capacity to employ about 2,000 workers, offer in-service training to national service personnel and allow students who are in the printing industry to do their attachment with them. (Ghana Web, Ghana)
Heres some long-distance travelin music for yall Jul 25, 2009
That ll cost you 7 carbon credits for the open flame, send your check payable to Al Gore, and save a little extra for the value added tax on the trip. But really, have fun. (Atlanta Journal-Constitution -- Opinion)
Mozambique: No Fuel Price Rises, Government Promises Jul 25, 2009
The government waived customs duties on diesel and kerosene, and Value Added Tax (VAT) on diesel and on the transport of fuel from the ports to the final point of sale. These measures allowed the fuel companies to make more money without directly penalizing the consumer. (allAfrica.com)
Uganda: Telecom Companies Increase Call Tariffs Jul 18, 2009
Besides excise duty of 12%, there is Value Added Tax of18. Analysts believe that this relatively high taxation has kept mobile phone tariffs in Uganda among the highest in sub-Sahara Africa. (allAfrica.com)
GOIL builds aviation fuel facility in Takoradi Jul 17, 2009
The total contribution to Value Added Tax and the National Health Insurance was GH0. 339 million. (Ghana Web, Ghana)
South Jersey needs a veterans hospital Jul 16, 2009
Ideas like cap-and-trade, card check and a value added tax (VAT), as well as silencing conservative talk radio, are on the drawing board scheduled to separate us from our money. People, be aware of what these "progressives" have in store for you. (NJ.com -- Times)
Federal, states, councils share N325 billion Jul 15, 2009
876 billion was withdrawn from the Excess Crude Account, and N27 billion from the Value Added Tax by the Federal Inland Revenue Service (FIRS). The Federal Government received N124. (Guardian News, Nigeria)
Tidbits from Italy include curious cooking instructions Jul 15, 2009
There s a V.A.T. (value added tax) on business transactions and purchases that s as much as 20 percent. V.A.T. on basic products is 4 or 10 percent. (New Iberia, LA)
The Essential J.J. Rawlings Jul 13, 2009
Whatever approach we adopt, we should not forget that this is a president who created 110 districts, passed the Value Added Tax (VAT) and the GET Fund, and also expanded electricity to parts of Northern Ghana. We should also remember who benefited from his Hunger Award. (Ghana Web, Ghana)
Zimbabwe: GNU's First Half Report at a Glance Jul 13, 2009
Despite the persistence of low disposable incomes, Value Added Tax performed above expectations and surpassed corporate tax and Pay as You Earn as the leading tax head. This was largely a result of the accelerated remittance periods introduced in January. (allAfrica.com)
Public Information Notice: IMF Executive Board Concludes 2008 Article IV Consultation with Djibouti Jul 10, 2009
They commended the authorities for the improvements already made in tax administration, and the plan for a comprehensive tax reform, including the introduction of a value added tax (VAT) and the streamlining of tax exemptions. Directors also welcomed the authorities commitment to contain current expenditure by improving budget management, intensifying expenditure prioritization, and gradually reducing the wage bill. (IMF News)
FIRS swoops on NNPC, NUC, others over N77b tax debt Jul 9, 2009
43 million, Value added Tax (VAT) of N941,259 and Pay As You Earn (PAYE) of N188 million. On the other hand, the NUC whose staff became unruly and recalcitrant during the exercise, owes over N513 million made up of withholding tax of N253 million, value added tax of N97 million and pay as you earn of N163 million. (Guardian News, Nigeria)
Read 'Cost of Freedom' recap Jul 8, 2009
This is also happening in France by the way, and the restaurant owners there just saw their VAT (value added tax) removed, which is great for them, but even they say we are not going to hire right now, in fact we should be firing. These tax cuts are not going to create international tourism. (Fox News)
PEF calls for Agric Fund Jul 8, 2009
He said limitations in the sector were the same 20 years ago and appealed to the government to "take the bull by the horns" as it had done with the Value Added Tax (VAT), GETfund and the National Health Insurance Scheme (NHIS). Mr Owusu-Mensah said even though taxes were increased to fund the GETFund and NHIS the benefits were there for all to see and enjoy and therefore called on government to see to the establishment of the Agriculture Fund to move the sector and the nation forward. (Ghana Web, Ghana)
Diabetes, hypertension prevalent among IRS staff - Quainoo Jul 7, 2009
He was addressing participants of a two-hour health walk jointly organized by the managements of IRS, Customs, Excise and Preventive Service (CEPS) and Value Added Tax (VAT) in collaboration with the German Technical Cooperation (GTZ), AIDS Commission and TB Project. It was under the theme: "Revenue Maximization in a Healthy Environment.". (Ghana Web, Ghana)
FIR Recovers Over N100m From Tax Defaulters In Port Harcourt Jul 5, 2009
He said the taxes owed include company income tax, withholding tax, education tax, income tax, and value added tax (VAT). He noted that some of the companies, including those that are big players in the oil sector, were owing taxes in excess of N100 million. (Guardian News, Nigeria)
Budget: Need for indirect tax reforms Jul 4, 2009
As no Central Sales tax or Value Added tax (VAT) is levied on imports, the levy of SAD is intended to create a level playing field for the goods produced by the domestic industry vis--vis imports. However, SAD is proving to be extremely cumbersome to administer. (India Times)
