Tax Cost of Investment Projects: the case of ICMS credits

This article discusses the impact on the profitability of firms under Complementary Law 102/2000 (which abrogated the Law 89/96 - Kandir Law) allowing the appropriation of ICMS credits, due to investment in fixed assets goods, at a ratio of 1/48 per month. The paper seeks to demonstrate how this new system - which resulted in the transformation of the ICMS as a value added tax (VAT) consumption-type to an income-type - leads to a loss of approximately 30% of the value of credits to be recovered and the effect it generates on the cost of investment and the profits for small, medium and large firms. From the methodological point of view, it is a descriptive and quantitative research, which proceeded in three stages. Initially, we have obtained estimated value of net sales and volume of investments, based on report Painel de Competitividade prepared by the Federacao das Indtustrias do Estado de Sao Paulo (Fiesp/Serasa). Based on this information, it was possible to obtain estimates of the factors of generation of debits and credits for ICMS, using the model Credit Control of Fixed Assets (CIAP). Finally, we have calculated three indicators: (i) present value of debt recovery/value of credits, (ii) present value of debt recovery / investment value, (iii) present value of debt recovery / sales profitability. We have conclude that the system introduced by Complementary Law 102/2000 implicates great opportunity cost for firms and that legislation should be reviewed from this perspective, aiming to ensure lower costs associated with investment projects.

Enzyme deactivation in fixed bed reactors with michaelis-menten kinetics

Rate expression for enzyme poisoning which are consistent with a Michaelis-Menten main reaction are used to analyze the performance of a fixed bed reactor containing immobilized enzyme. When enzyme deactivation results from the irreversible bonding of a product molecule to an existing substrate-enzyme complex, it is shown that minimum enzyme activity can occur in the interior of the bed, well away from the ends. This suggests that bed sectioning techniques may enable direct evaluation of fundamental poisoning mechanisms.

Fixed bed reactors with catalyst poisoning - first order kinetics.

The long performance of an isothermal fixed bed reactor undergoing catalyst poisoning is theoretically analyzed using the dispersion model. First order reaction with dth order deactivation is assumed and the model equations are solved by matched asymptotic expansions for large Peclet number. Simple closed-form solutions, uniformly valid in time, are obtained.

Property crime and income generation by heroin users

This paper provides a detailed analysis of patterns of income generation among 202 active heroin users in South West Sydney. We explore both sources of income and the relative contribution of different types of income generating activities, including drug sales and related activities, property crime, prostitution, legitimate income and avoided expenditures. Despite claims that heroin use leads inevitably to property crime, drug market activities accounted for a greater proportion of drug user income in this sample. Results indicate that law enforcement crackdowns that reduce opportunities for generating income from the drug market may increase property crime by heroin users.

Non-Spatial Government Policies and Regional Income Inequality in Brazil

Silveira Neto R. Da M. and Azzoni C. R. Non-spatial government policies and regional income inequality in Brazil, Regional Studies. This paper uses both macro- and micro-data to analyse the role of social programmes in the recent reduction in Brazilian regional income inequality. Convergence indicators are presented for different sources of regional income in the period 1995-2006. A decomposition of the Gini indicator allows the identification of the role of each of these income sources with respect to the reduction of regional inequality during the period. The results point out that both labour productivity and government non-spatial policies - mainly minimum wage changes and income transference programmes - do have a role in explaining regional inequality reduction during the period. [image omitted] Silveira Neto R. Da M. et Azzoni C. R. Les politiques gouvernementales non-spatiales et l`ecart des revenus regionaux au Bresil, Regional Studies. Cet article emploie des donnees a la fois macroeconomiques et microeconomiques afin d`analyser le role des programmes d`actions sociales quant a la baisse recente de l`ecart des revenus regionaux au Bresil. On presente des indicateurs de convergence pour diverses sources des revenus regionaux pour la periode allant de 1995 a 2006. Une decomposition du coefficient de Gini permet d`identifier le role de chacune de ces sources des revenus par rapport a la baisse de l`ecart des revenus pendant cette periode. Les resultats indiquent que la productivite du travail et les politiques gouvernementales non-spatiales - notamment la modification du salaire minimum et les programmes visant le transfert des revenus - ont un role a jouer pour expliquer la baisse de l`ecart des revenus regionaux pendant la periode en question. Convergence Productivite du travail Transfert des revenus Salaire minimum Effets spatiaux des politiques non-spatiales Silveira Neto R. Da M. und Azzoni C. R. Nicht raumliche Regierungspolitiken und das regionale Einkommensungleichgewicht in Brasilien, Regional Studies. In diesem Beitrag analysieren wir mit Hilfe von Makro- und Mikrodaten die Rolle von sozialen Programmen bei der unlangst erzielten Verringerung des regionalen Einkommensungleichgewichts in Brasilien. Wir stellen Konvergenz-Indikatoren fur verschiedene regionale Einkommensquellen im Zeitraum von 1995 bis 2006 vor. Eine Dekomposition des Gini-Indikators ermoglicht die Identifizierung der jeweiligen Rolle dieser Einkommensquellen fur die Verringerung des regionalen Ungleichgewichts im betreffenden Zeitraum. Die Ergebnisse weisen darauf hin, dass sowohl die Produktivitat der Arbeitskrafte als auch die nicht raumlichen Regierungspolitiken - in erster Linie Veranderungen beim Mindestlohn und Programme fur Einkommenstransfers - als Grunde fur die Verringerung des regionalen Ungleichgewichts in dieser Periode durchaus eine Rolle spielen. Konvergenz Arbeitsproduktivitat Einkommenstransfer Mindestlohn Raumliche Auswirkungen nicht raumlicher Politiken Silveira Neto R. Da M. y Azzoni C. R. Politicas gubernamentales no espaciales y desigualdades de ingresos regionales en Brasil, Regional Studies. En este articulo utilizamos datos macro y micro para analizar el papel de los programas sociales en la reciente reduccion en las desigualdades de ingresos regionales de Brasil. Presentamos los indicadores de convergencia para diferentes fuentes de ingresos regionales en el periodo de 1995 a 2006. Una descomposicion del indice Gini permite identificar el papel de cada una de estas fuentes de ingresos con respecto a la reduccion de las desiguadades regionales durante este periodo. Los resultados destacan que tanto la productividad laboral como las politicas no espaciales del gobierno - principalmente los cambios de salario minimo y los programas de transferencias de ingresos - desempenan una funcion a la hora de explicar la reduccion de las desigualdades regionales durante este periodo. Convergencia Productividad laboral Transferencias de ingresos Salario minimo Efectos espaciales de politicas no espaciales.

Soybean: unrealized income losses avoided during harvest.

The wastes occurred during the harvest cause a hard impact in the agricultural business. About the soy fields, recent researches indicate that half of this waste could be avoided, reducing the cost of production and resultant earning of the companies. The purpose of this article is to analyze the estimative of soy harvest field area of 2006/07 to 2007/08 and respective production, subsidy estimate the waste that could be avoided during the harvest, considerating tolerable levels of 60 Kg by hectare, accordant is the model adopted on USA e Brazil. This research was based in a bibliographic study to explain and analyze all sides, practical and theoretical around the investigate problem. It was checked that is possible expect and avoid these wastes during the harvest. Such wastes overcome the mark of 20,000 ton/year, that in money talks represent over R$ 1.000.000 mil/year. Conclude however that wastes when treated provide a production cost reduction, indicating execution and a positive impact on agricultural companies` earnings.

Income inequality and pecuniary crimes

This paper verifies the relationship between income inequality and pecuniary crimes. The elasticity of pecuniary crimes relative to inequality is 1.46, corroborating previous literature. Other factors important to decrease criminality are expanding job opportunities and a more efficient legal system, (C) 2009 Elsevier B.V. All rights reserved.

BUPROPION/NALTREXONE FIXED-DOSE COMBINATION FOR THE TREATMENT OF OBESITY

The combination of bupropion and naltrexone is one of the most promising new possibilities for the treatment of obesity in an era of increasing prevalence of this disease and decreasing options for its pharmacological management. Although approved by FDA panel members, it was temporally rejected by the FDA afterwards, who demanded more cardiovascular safety data for its commercialization. This monograph will focus on the physiology involved in its mechanisms of action and results of clinical trials.

The prevalence of headache among elderly in a low-income area of Sao Paulo, Brazil

There are scarce data about headache prevalence and its characteristics among elderly people. The aim was to carry out a cross-sectional study to determine the 1-year prevalence of tension-type and migraine headaches in people > 65 years old in the city of Sao Paulo, Brazil. All 1615 people living in the study catchment area who agreed to participate in the study answered a questionnaire based in the International Headache Society criteria. Prevalence (mean and 95% confidence interval) of any type of headache in the last year was 45.6% (43.2, 48.0). Prevalence of tension-type headache in the last year was 33.1% (30.8, 35.4): 28.1% (24.6, 31.6) for men and 36.4% (33.4, 39.4) for women; for migraine headaches, prevalence in the last year was 10.6% (9.1, 12.1): 5.1% (3.4, 6.8) for men and 14.1% (11.9, 16.3) for women. One-year prevalence rates of headaches, and especially of migraine headaches, are very high among the elderly in Brazil.

Cardiovascular risk factors associated with migraine among the elderly with a low income: The Sao Paulo Ageing & Health Study (SPAH)

Background: To investigate the association between cardiovascular risk-factor profile and migraine in the elderly, we evaluated a population sample of ageing men and women (65 years or more) living in a low-income area in the city of Sao Paulo, Brazil. Patients and Methods: We investigated migraine status and cardiovascular profile from a baseline of 1450 participants (65-102 years of age) of the Sao Paulo Ageing & Health Study (SPAH), a longitudinal population-based study with low-income elderly in Brazil. The following age and sex-adjusted cardiovascular risk factors were analyzed: blood pressure, pulse pressure, serum total and high-density lipoprotein cholesterol, body mass index, smoking, history of hypertension, diabetes and the 10-year risk of myocardial infarction or coronary heart disease death based on the Framingham Risk Score. Results: The overall prevalence of migraine was 11.4%, and it was 3 times more frequent among women than men (15.3% vs 5.4%; P < 0.0001). Migraineurs were younger than non-migraineurs (mean age 70.6 years vs 72.1 years; P = 0.001, respectively). There was no statistically significant difference regarding the cardiovascular risk-factor profile after adjustment for age and sex among migraineurs and non-migraineurs. Only a decrease in the risk of hypertension among women (OR 0.58; 95% CI 0.38-0.90; P = 0.01) was also observed even after adjustment for age. Conclusions: Overall, we did not find a worse cardiovascular risk profile among elderly migraineurs. An inverse association between hypertension and migraine in women warrants further investigation.

Income inequality and male homicide rates: Sao Paulo, Brazil, 1996-2007

In Sao Paulo, Brazil, homicides to men aged 15-44 years increased with an annual percentage change (APC) of 4.7% from 1996 to 2001, and then decreased from 2001 to 2007 with an APC of -14.6%. Analyzing the intra-urban distribution according to family income, the increase in the homicide rate was restricted to men living in the poorest neighbourhoods. In contrast, the decline in homicide rates was observed to men living in all districts. The reasons for this `up and down` trend are not clear.

Additive Intraocular Pressure Reduction Effect of Fixed Combination of Maleate Timolol 0.5%/Dorzolamide 2% (Cosopt) on Monotherapy With Latanoprost (Xalatan) in Patients With Elevated Intraocular Pressure A Prospective, 4-week, Open-label, Randomized, Controlled Clinical Trial

Purpose: To evaluate the additive effect of dorzolamide/timolol fixed combination in patients under monotherapy with latanoprost. Patients and Methods: In this prospective, 4-week, randomized, open-label controlled clinical trial, patients with open-angle glaucoma or ocular hypertension, which presented at least 15% intraocular pressure (IOP) reduction after a minimum period of 15 days of monotherapy with latanoprost and whose IOP level was considered above the established target-IOP level were randomized to receive fixed combination of timolol/dorzolamide twice daily in one of eyes. The fellow eye was kept under monotherapy and was included in the control group. A modified diurnal tension curve (mDTC) followed by the water drinking test were performed in the baseline and week 4 visits to evaluate IOP profile between groups. Results: Forty-nine per-protocol patients were analyzed. After latanoprost monotherapy run-in period, IOP levels were significantly reduced (P<0.001) in both control and study groups to 15.34 +/- 2.96 mm Hg and 15.24 +/- 2.84 mm Hg (30.8% and 32.2% IOP reduction, respectively; P=0.552). At week 4, mean baseline diurnal IOP levels were 15.60 +/- 3.09 and 14.44 +/- 3.03 (7.4% difference; P=0.01). Mean baseline IOP modified diurnal tension curve peak after latanoprost run-in period were 17.47 +/- 3.68 mm Hg and 17.02 +/- 3.35 mm Hg (control and study eyes, respectively; P=0.530). At week 4 visit, mean water-drinking test peaks were significantly reduced in the study eye group in comparison with the control group: 19.02 +/- 3.81 mm Hg and 20.39 +/- 4.19 mm Hg, respectively (6.7% reduction; P=0.039). Conclusions: In our sample, dorzolamide 2%/timolol 0.5% fixed combination as add-on therapy in patients with open-angle glaucoma or ocular hypertension under monotherapy with latanoprost with IOP already in mid-teens levels may further enhance pressure reduction.

An Eight-week, Multicentric, Randomized, Interventional, Open-label, Phase 4, Parallel Comparison of the Efficacy and Tolerability of the Fixed Combination of Timolol Maleate 0.5%/Brimonidine Tartrate 0.2% Versus Fixed Combination of Timolol Maleate 0.5%/Dorzolamide 2% in Patients With Elevated Intraocular Pressure

Purpose: To compare the efficacy and tolerability of the fixed combination of timolol maleate 0.5%/brimonidine tartrate 0.2% versus fixed combination of timolol maleate 0.5%/dorzolamide 2% in patients with elevated intraocular pressure (IOP) over 8 weeks. Patients and Methods: This 8-week, multicentric. interventional, randomized, open-label, parallel group study was conducted Lit 4 centers in Brazil and 1 center in Argentina. Patients with open-angle glaucoma or ocular hypertension were randomized to receive bilaterally fixed combination of brimonidine/timolol maleate 0.5% or fixed combination of dorzolamide 2%/timolol 0.5% twice daily at 8:00 AM and 8:00 PM. A modified diurnal tension curve (8:00 AM 10:30 AM, 02:00 PM, and 4:00 PM) followed by the water drinking test (WDT), which estimates IOP peak of diurnal tension curve, were performed in the baseline and week-8 visits. Adverse events data were recorded at each visit. Results: A total of 210 patients were randomized (brimonidine/timolol, n = 111; dorzolamide/timolol, n = 99). Mean baseline IOP was 23.43 +/- 3.22 mm Hg and 23.43 +/- 4.06 mm Hg in the patients treated with brimonidine/timolol and dorzolamide/timolol, respectively (P = 0.993). Mean diurnal IOP reduction after 8 weeks were 7.02 +/- 3.06 mm Hg and 6.91 +/- 3.67 mm Hg. respectively (P = 0.811). The adjusted difference between groups (analysis of covariance) Lit week 8 was not statistically significant (P = 0.847). Mean baseline WDT peak was 27.79 +/- 4.29 mm Hg in the brimonidine/timolol group and 27.68 +/- 5.46 mm Hg in the dorzolamide/timolol group. After 8 weeks of treatment, mean WDT peaks were 20.94 +/- 3.76 mm Hg (P < 0.001) and 20.98 +/- 4.19 (P < 0.001), respectively. The adjusted difference between groups (analysis of covariance) was not statistically significant (P = 0.469). No statistical difference in terms of adverse events was Found between groups. Conclusions: Both fixed combinations were capable of significantly reducing the mean diurnal IOP, mean diurnal peak, and mean WDT peak after 8 weeks of treatment. Also, both fixed combinations are well tolerated with few side effects.