What if tax reform was a fundamental human right?

As an election looms in Australia, the tax debate continues unabated. Self-interest abounds. When we remove self-interest, we are often reduced to standard design principles for a taxation system. Lost in this discussion is the fundamental purpose of tax, which is to finance government expenditure. Most would argue that tax revenue should be sufficient to meet basic economic and social needs of the community. But how does a community determine what these basic economic and social needs should be? One way is by using a human rights framework. This can provide guidance for both developing and developed countries considering tax reform.

Fundamental Tax Legislation [24th Edition]

Fundamental Tax Legislation 2016 contains the essential provisions from the primary legislation that affects Australia's taxation system. Updated and expanded for changes which occurred in 2015, this volume is an indispensable reference for undergraduate and postgraduate students of taxation. The Year in Review section has been updated to summarise the main legislative developments in taxation over the previous 12 months, a listing of the passage of tax related legislation during the last year and the inclusion of reference statistics (such as CPI quarterly figures and individual tax rates for residents and foreign residents). Also fully updated and revised to reflect the changes in 2015 is the Tax Rates and Tables section, which contains an accessible summary of the main tax rates and tables that students will need to refer to for their tax studies.

Tax Reform and Payout Policy:Do Shareholder Clienteles or Payout Policy Adjust?

Changes in taxation of corporate dividends offer excellent opportunities to study dividend clientele effects. We explore payout policies and ownership structures around a major tax reform that took place in Finland in 2004. Consistent with dividend clienteles affecting firms’ dividend policy decisions, we find that Finnish firms altered their dividend policies based on the changed tax incentives of their largest shareholders. While firms adjust their payout policies, our results also indicate that ownership structures of Finnish firms also changed around the 2004 reform, consistent with shareholder clienteles adjusting to the new tax system.

Export of proteins across membranes: The helix reversion hypothesis

A model is presented which explains the biological role of the leader peptide in protein export. Along the lines of this model, the conformational changes of a protein with environment serves as a general mechanism for translocation. The leader peptide in the cytoplasm takes a hairpin like conformation which reverts to an extended helix upon integration into the membrane. The essential features of this model are in accord with recent results of protein export.

Tax havens and their impacts on the non-haven countries

Tax havens have attracted increasing attention from the authorities of non-haven countries. The financial crisis exacerbates the negative attitude to tax havens. Offshore zones are now under strong pressure from the international, both financial and political institutions. Thus, the thesis will focus on the current problem of the modern economy, namely tax havens and their impact on the non-haven countries. This thesis will be based on the several articles, in particular “Tax Competition With Parasitic Tax Havens” by Joel Slemrod and John D. Wilson (University of Michigan, 2009) and “Do Havens Divert Economic Activity” by James R. Hines Jr., C. Fritz Foley and Mihir A. Desai (Ross School of Business, 2005). This paper provides two completely different and contradictory viewpoints on the problem of coexisting tax havens and non-haven countries. There are two models, examined in this work, present two important researches. The first one will be concentrated on the positive effect from tax havens whereas the last model will be focused on the completely negative effect from offshore jurisdictions. The first model gives us a good explanation and proof of its statement why tax havens can positively influence on nearby high-tax countries. It describes that the existence of offshore jurisdictions can stimulate the growth of operations and facilitates economic activity in non-haven countries. In contrast to above mentioned, the model with quite opposite view was presented. This economic model and its analysis confirms the undesirability of the existence of offshore areas. Taking into consideration, that the jurisdictions choose their optimal policy, the elimination of offshores will have positive impact on the rest of countries. The model proofs the statement that full or partial elimination of tax havens raises the equilibrium level of the public good and increases country welfare. According to the following study, it can be concluded that both of the models provide telling arguments to prove their assertions. Thereby both of these points of view have their right to exist. Nevertheless, the ongoing debate concerning this issue still will raise a lot of questions.

Second-best tax policy in a growing economy with externalities

This paper investigates the exploitation of environmental resources in a growing economy within a second-best scal policy framework. Agents derive utility from two types of consumption goods one which relies on an environmental input and one which does not as well as from leisure and from environmental amenity values. Property rights for the environmental resource are potentially incomplete. We connect second best policy to essential components of utility by considering the elasticity of substitution among each of the four utility arguments. The results illustrate potentially important relationships between environmental amentity values and leisure. When amenity values are complementary with leisure, for instance when environmental amenities are used for recreation, taxes on extractive goods generally increase over time. On the other hand, optimal taxes on extractive goods generally decrease over time when leisure and environmental amenity values are substitutes. Unders some parameterizations, complex dynamics leading to nonmonotonic time paths for the state variables can emerge.

Explosive Hyperinflation, Inflation Tax Laffer Curve and Modelling the use of Money

This paper analyzes the existence of an inflation tax Laffer curve (ITLC) in the context of two standard optimizing monetary models: a cash-in-advance model and a money in the utility function model. Agents’ preferences are characterized in the two models by a constant relative risk aversion utility function. Explosive hyperinflation rules out the presence of an ITLC. In the context of a cash-in-advance economy, this paper shows that explosive hyperinflation is feasible and thus an ITLC is ruled out whenever the relative risk aversion parameter is greater than one. In the context of an optimizing model with money in the utility function, this paper firstly shows that an ITLC is ruled out. Moreover, it is shown that explosive hyperinflations are more likely when the transactions role of money is more important. However, hyperinflationary paths are not feasible in this context unless certain restrictions are imposed.

A predictive model of the export behaviour of small and medium sized firms: an application to the case of Castilla-La Mancha

[EN] Based on an extensive theoretical review, the aim of this paper is to carry out a closer examination of the differences between exporters according to their commitment to the international market. Once the main disparities are identified by means of a non-parametric test, a logistic analysis based upon data collected from small and medium sized manufacturing firms is conducted in order to construct a classificatory model.

Tax-Based Fisheries Management: The Case Study Of The Cantabrian Anchovy Fishery

A dynamic optimisation framework is adopted to show how tax-based management systems theoretically correct the inefficient allocation of fishing resources derived from the stock externality. Optimal Pigouvian taxes on output (τ) and on inputs (γ) are calculated, compared and considered as potential alternatives to the current regulation of VIII division Cantabrian anchovy fishery. The sensibility analysis of optimal taxes illustrates an asymmetry between (τ) and (γ) when cost price ratio varies. The distributional effects also differ. Special attention will be paid to the real implementation of the tax-based systems in fisheries.

History of whaling in and near North Carolina

This study aims to reconstruct the history of shore whaling in the southeastern United States, emphasizing statistics on the catch of right whales, Eubalaena glacialis, the preferred targets. The earliest record of whaling in North Carolina is of a proposed voyage from New York in 1667. Early settlers on the Outer Banks utilized whale strandings by trying out the blubber of carcasses that came ashore, and some whale oil was exported from the 1660s onward. New England whalemen whaled along the North Carolina coast during the 1720s, and possibly earlier. As some of the whalemen from the northern colonies moved to Nortb Carolina, a shore-based whale fishery developed. This activity apparently continued without interruption until the War of Independence in 1776, and continued or was reestablished after the war. The methods and techniques of the North Carolina shore whalers changed slowly: as late as the 1890s they used a drogue at the end of the harpoon line and refrained from staying fast to the harpooned whale, they seldom employed harpoon guns, and then only during the waning years of the fishery. The whaling season extended from late December to May, most successfully between February and May. Whalers believed they were intercepting whales migrating north along the coast. Although some whaling occurred as far north as Cape Hatteras, it centered on the outer coasts of Core, Shackleford, and Bogue banks, particularly near Cape Lookout. The capture of whales other than right whales was a rare event. The number of boat crews probably remained fairly stable during much of the 19th century, with some increase in effort in the late 1870s and early 1880s when numbers of boat crews reached 12 to 18. Then by the late 1880s and 1890s only about 6 crews were active. North Carolina whaling had become desultory by the early 1900s, and ended completely in 1917. Judging by export and tax records, some ocean-going vessels made good catches off this coast in about 1715-30, including an estimated 13 whales in 1719, 15 in one year during the early 1720s, 5-6 in a three-year period of the mid to late 1720s, 8 by one ship's crew in 1727, 17 by one group of whalers in 1728-29, and 8-9 by two boats working from Ocracoke prior to 1730. It is impossible to know how representative these fragmentary records are for the period as a whole. The Carolina coast declined in importance as a cruising ground for pelagic whalers by the 1740s or 1750s. Thereafter, shore whaling probably accounted for most of the (poorly documented) catch. Lifetime catches by individual whalemen on Shackleford Banks suggest that the average annual catch was at least one to two whales during 1830·80, perhaps about four during the late 1870s and early 1880s, and declining to about one by the late 1880s. Data are insufficient to estimate the hunting loss rate in the Outer Banks whale fishery. North Carolina is the only state south of New Jersey known to have had a long and well established shore whaling industry. Some whaling took place in Chesapeake Bay and along the coast of Virginia during the late 17th and early 18th centuries, but it is poorly documented. Most of the rigbt whales taken off South Carolina, Georgia, and northern Florida during the 19th century were killed by pelagic whalers. Florida is the only southeastern state with evidence of an aboriginal (pre-contact) whale fishery. Right whale calves may have been among the aboriginal whalers' principal targets. (PDF file contains 34 pages.)

Investment opportunity in aquarium technology. Export marketing of tropical aquarium fishes

A brief account is given of the demand for ornamental fish, providing also estimates of world trade volume. The major importing countries are the USA, Japan, Germany, the UK and the Netherlands. Present supply patterns are outlined; although Nigeria has vast natural resources of tropical aquatic life and the right climate for breeding, current exports are estimated at only 5% of the total potential. Recommendations for the promotion of exports of tropical aquarium fish in Nigeria are included