Last edited by Ararr
Thursday, January 30, 2020 | History

3 edition of Capital levies and transition to a consumption tax found in the catalog.

Capital levies and transition to a consumption tax

Louis Kaplow

Capital levies and transition to a consumption tax

  • 28 Want to read
  • 36 Currently reading

Published by National Bureau of Economic Research in Cambridge, Mass .
Written in English

    Subjects:
  • Taxation -- Econometric models

  • Edition Notes

    StatementLouis Kaplow.
    SeriesNBER working paper series -- no. 12259., Working paper series (National Bureau of Economic Research) -- working paper no. 12259.
    ContributionsNational Bureau of Economic Research.
    The Physical Object
    Pagination29 p. ;
    Number of Pages29
    ID Numbers
    Open LibraryOL17629913M
    OCLC/WorldCa69660662

    Instead of a fixed tax amount per transaction, the tax was in the amount of 0. Excise goods such as alcoholic beverages, tobacco products, and mineral oils have to pay excise duty. You can pay your provisional assessment — or receive the tax refund — into a Dutch or foreign bank account. This feature of the DBCFT—that the effective long-term tax rate on investment is zero—can also exist in the current U. It does not go as far as Auerbach in counting the proceeds from borrowing as part of the tax base.

    The tax rates were higher on equities than on debentures and bonds. However, there are several exceptions. If the final calculation differs from the provisional calculation, you will either get a refund or have to pay the difference. Levied and enforced at the federal level, these are taxes on income that results from the sale of assets in which the sale price was higher than the purchasing price. This means that you can enjoy the same deductions, tax credits, and tax-free allowances as resident taxpayers.

    We have no references for this item. Bodnar et al, show that companies usually incorporate predictions of future price levels i. Currently the rate is 0. In this fashion, markets would innovate so as to avoid the tax" as they were doing with the creation of financial derivatives. Clearly, if there were no administrative or compliance costs, the most efficient threshold would be zero. The tax rates were higher on equities than on debentures and bonds.


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Capital levies and transition to a consumption tax by Louis Kaplow Download PDF Ebook

Professor Auerbach and his plan are sure to be at the center of the debate. However, excess speculation is often deemed not only a source of volatility but a distraction of talent and dangerous shift of focus for a developed economy.

There are several very common types of taxes: Income Tax —a percentage of individual earnings filed to the federal government Corporate Tax —a percentage of corporate profits taken as tax by the government to fund federal programs. However, you may claim expenses related to your work.

She also vowed to "Impose a risk fee on the largest financial institutions. The income tax return for entrepreneurs is the same as it is for citizens. The revenue of the Swiss transfer tax was CHF 1.

These are taxed at both short-term and long-term rates.

Capital Levies and Transition to a Consumption Tax

But the situation is serious when enterprise becomes the bubble on a whirlpool of speculation. It's unforgivable in this age of austerity that the UK government is turning down billions in additional revenue to protect the City's elite. Tax advice in the Netherlands As the Dutch tax Capital levies and transition to a consumption tax book can be fairly complicated, there is a wide range of taxation professionals and services in the Netherlands ready to help you.

It also allows you to accept potential citations to this item that we are uncertain about. See general information about how to correct material in RePEc.

Scenario 1: Income from Capital Gains[ edit ] This refers to the scenario where the assessee is either Salaried or is engaged in some other business or profession and trading in securities is not the main line of business.

The amount will be credited to your credit card within a few weeks. As of [update]it is the oldest tax still in existence in Great Britain. If you Capital levies and transition to a consumption tax book income from abroad However, if you live abroad but do you have income in or from the Netherlands, or you have possessions in the country, you can opt to be treated as if you have a resident taxpayer status for the whole year.

Value of taxable securities transaction relating to an "option in securities" shall be the settlement price less the strike price [8]in case of sale of an option in securities, where option is exercised.

First, it is virtually impossible to distinguish between normal liquidity trading and speculative noise trading. That is why it recently undertook a major study to answer key questions about the usefulness of the tax—which has been surprisingly little studied—and to crystallize best practices.

For example, this applies if you only lived in the Netherlands for part of the previous year or file a tax return for a deceased person. Analyst Marion G. Not every shop does, however the affiliated shops display a sticker on their door indicating they do.

Another method is to restrict expenditures to a percentage of projected revenue, maintaining a cushion in case revenues fall short of projections.

Dutch customs authority: Provides information in English regarding duties payable and procedures for individuals and businesses. Are you a resident of the Netherlands? In some cases, you also have to pay excise duty, consumption tax, and other levies.

Tax records should be maintained depending on the type of record. Read more in our Guide to inheritance tax in the Netherlands. The latter means that imports are subject to the VAT and exporters are refunded the VAT paid on purchases of intermediate and capital goods.

Tobin suggested his currency transaction tax in in his Janeway Lectures at Princeton, shortly after the Bretton Woods system effectively ended. One of the most troublesome: does the allowance of the deductibility of labor costs put it at odds with World Trade Organization provisions that govern Value Added Taxes, which are similar in nature?

As ofonly nine states had enacted TELs through voter initiative. Where there are few stages in domestic production, however, the VAT may offer little gain over either a retail sales tax or, in particular, a uniform tariff.The major argument for replacing an income by a consumption tax is that savings would no longer be taxed.

A consumption tax, its advocates assert, would tax consumption and not savings. The fact that this argument is generally advanced by free-market economists, in our day mainly by the supply-siders, strikes one immediately as rather peculiar.

Apr 18,  · As such, the DBCFT is a tax on non-wage consumption, namely, on consumption out of capital income, which makes it a progressive tax compared to the VAT (see related piece on VAT by Tatiana Lysenko).

Effects on Tax Revenue. The U.S. corporate income. May 17,  · The original model features a closed economy populated by households, firms (producing capital and consumption goods), and banks.

Guide to the Dutch tax system

In this article, we enrich the model by introducing a government that collects taxes on income, provides unemployment Cited by: 1.The author discusses key concepts in pdf and income taxes and identifies the problems of a transition to a consumption-based system.

My bibliography Save this book. Fundamental Issues in Consumption Taxation. Author & abstract "Capital Levies and Transition to a Consumption Tax," NBER Working PapersNational Bureau of.If you import goods into the Netherlands from outside the European Union (EU), you download pdf usually have to pay import duties and VAT.

In some cases, you also have to pay excise duty, consumption tax, and other levies. Import duties are levied on imported goods. The authorities collect the duty and transfer the sums collected to the EU.Comment on L.

Kaplow, "Capital Ebook and the Transition to a Consumption Tax" in Institutional Foundations of Public Finance: Economic and Legal Perspectives, edited by A. J. Auerbach and D. Shaviro, Cambridge, Mass.: Harvard University Press, U-M Library Search.