Discover and read the best of Twitter Threads about #tax

Most recents (23)

On @infomorning today, I shared (in 8 minutes!) some results of the pathbreaking research we've done on the history of Nova Scotia's King's College connections to the enslavement of African people. Here's a taste:

History thread!

#UVADeanKvD @ukings
First, we made sure the basics were covered: slavery was practiced in Nova Scotia. The trade was abolished by a British statute in 1807, and enslaved people were emancipated by an 1833 British statute. Read HA Whitfield's great book on the subject (North to Bondage).
Then I went on to new facts discovered and new significance established of well-known facts (the historians involved were me, Smardz-Frost, States, and Roper. Here’s a link to the research: ukings.ca/administration…
Read 10 tweets
Direct tax proposes a new optional #tax regime optional for taxpayers.
Under the new tax regime – tax rates are as follows
Up to 5 lakhs – 0%
5 lakhs to 7.5 Lakhs – 10%
7.5 Lakhs to 10 Lakhs – 15%
10 Lakhs – 12.5 Lakhs – 20%
12.5 Lakhs to 15 Lakhs – 25%
More than 15 Lakhs – 30%
DDT has been removed. #DDT will be taxed in the hands of individuals at their slab rate. With DDT scrapping, govt lets go of Rs 25,000 crore revenue.
Audit Turnover threshold has been increased from Rs. 1 crore to Rs. 5 crores. #Budget2020
Read 10 tweets
When someone says the word #SIP, most of us associate it with equity #mutualfunds. But did you know that SIPs are possible in the fixed income asset class as well?
#Debt SIPs can be one of the most useful ways to meet your short term goals, recurring goals, and asset allocation needs.
SIPs in #debtfunds can be used to meet yearly school fees, build an emergency reserve, your annual vacation, regular recurring expenses, working capital, etc.
Read 8 tweets
@arthur_eckart @jlounsbury59 @AuburnParks @stf18 @mcgilcoli @FadhelKaboub @GaneshHegde7 @tonywestonuk @sashi31363 @StephanieKelton @tymoignee @pdacosta @GaelicTorus Hope you have gone through this part of the article as well - Here’s an example. As many economists have lately been pointing out, these days the old story about rising inequality, in which it was driven by a growing premium on skill, has lost whatever relevance it may have had.
@arthur_eckart @jlounsbury59 @AuburnParks @stf18 @mcgilcoli @FadhelKaboub @GaneshHegde7 @tonywestonuk @sashi31363 @StephanieKelton @tymoignee @pdacosta @GaelicTorus Since around 2000, the big story has, instead, been one of a sharp shift in the distribution of income away from wages in general, and toward profits. But here’s the puzzle: Since profits are high while borrowing costs are low, why aren’t we seeing a boom in business investment?
@arthur_eckart @jlounsbury59 @AuburnParks @stf18 @mcgilcoli @FadhelKaboub @GaneshHegde7 @tonywestonuk @sashi31363 @StephanieKelton @tymoignee @pdacosta @GaelicTorus And, no, investment isn’t depressed because President Obama has hurt the feelings of business leaders or because they’re terrified by the prospect of universal health insurance.

Well, there’s no puzzle here if rising profits reflect rents, not returns on investment.
Read 10 tweets
⚠ Thread | Republican Party Platform: Socialism for the wealthy. Biblical capitalism for everyone else.
Nearly 700,000 will lose food stamps with USDA work requirement change

🔗nbcnews.to/2DKfSB0 #ImpeachTrump #Resist #Trump #GOPTaxScam
Welfare for the rich? A $1.9 Trillion tax cut giveaway.

Fun fact: In 2018, 60 Fortune 500 companies paid no taxes on a total of $79 billion of profits.

Welfare for the poor? 2 Thessalonians 3:10

#Evangelicals #Republicans #ImpeachTrump #Trump #Resist #Bible #GOPTaxScam
Read 172 tweets
Here are 20 sweeping changes to the Nigerian #tax laws that may affect you! pwc.smh.re/0FXk
1. Excess dividend tax to apply only to untaxed distributions other than profits specifically exempted from tax and franked investment income
2. Small businesses with turnover under N25m to be exempted from Companies Income Tax
Read 21 tweets
💡 How to reconcile globalisation & #TaxJustice?

Some 🗝️ key points by 🎙️ @gabriel_zucman in another cracking #podcast episode of @TheTaxcast

🎧 ➡️ taxjustice.net/2019/10/25/tax…

THREAD 1/7
#TaxEvasion & #TaxAvoidance are not laws of nature, but policy choices. We can choose to:
🕵️‍♂️ allow secrecy
💸 lightly regulated the tax avoidance industry
🌪️allow tax competition to drive a #RaceToTheBottom

Or we can choose not to allow them 👇 2/7
The alternatively could be to choose to:
🧮 record wealth in registries
🏛️ regulate #TaxAvoidance industry
🌍 make international #tax coordination a core part of #Trade agreements & international cooperation

3/7
Read 8 tweets
"Do not touch the Philosopher's Stone with your hands. You are not of our race; you are not of the seed of Abraham."

– Maria the Jewess (cit. in The Jewish Alchemists, Princeton Univ. Press, Raphael Patai)

#red #white #Cabala #inversion '#transformation' '#magic'
In case anyone is wondering, those are *almond* flowers.

Study up on them. And study your Bible.
Read 13 tweets
Another important day in #tax world and especially for @OECDtax.

#G20 Ministers should approve today last week's proposal by the OECD to reform international corporate tax rules.

Is this a revolution?

Check out this thread for a visual illustration of what is on the table!
The reform (who has the right to tax multinationals and where should that happen) has 3 steps (A, B and C). A being the major breakthrough. All companies with a certain turnover in a country even without physical presence have to allocate a part of their profits to that country.
How this step A looks like is the big question and it has been hard to visualize the reform and clearly indicate what still needs to be negotiated (cause a lot is still under discussion). I have tried to put it all in images and happy to hear comments and discuss #taxtwitter
Read 15 tweets
Here is a social experiment.

Will I be reported to @Twitter for using offensive and demeaning language if I use -- correctly -- the word "#niggardly" -- in a sentence?

The Hawaii Supreme Court rejected the tax assessor's approach as a niggardly construction of the statute.
I've been reviewing decisions of the #HawaiiSupremeCourt on the question of whether #nonprofits were properly charged a #generalexcise #tax under Hawaiian law for various activities and operations that produced #income to the organization.
Courts begin (and end) their principal analysis of such issues by examining an underlying tax law, code, rule, or regulation.
Read 16 tweets
Bill receipt for dinner at #BunduKhan fortress stadium, I insisted for a receipt with #STN(sales tax number) but in vain and obviously i ended up paying full amount ..
I request authorities to kindly take action against all such businesses. they might be keeping this 16% (1/2)
To themselves .. in short this is a violation of basic taxation rules and this place should be held accountable ..

@SHABAZGIL
@HashimJBakht
(2/2)
Read 7 tweets
#Brexit ALREADY costs UK £1bn pw as we Hit Holidays! @GoldmanSachs put that lower at £600m. but I'm looking at 2+% less GDP (than would have been); more Govt Debt (+interest); the growing impact of #Brexodus on jobs/taxtake; £devaln.&inflation creep, reducing Property values.1/20
@GoldmanSachs Am puzzled & mortified? that UK's so-called Major Political Parties @Conservatives @UKLabour seem umbilically disconnected? from the financial IMPACT of their recent (let's say) 'accidental collusions' and Brexit-Birth-Giving! Why the co-incidental & costly numeracy lapse? 2/20
@GoldmanSachs @Conservatives @UKLabour Assuming that (eg) @bankofengland @hmtreasury @ICAEW @The_IoD @cbicarolyn @FrancesOGrady are aware of UK's #Brexit financial haemorrhage? eg Govt Debt, Jobs/Tax, Businesses (all sizes), Individuals - there may be varying estimates? but agreement that a HUGE hit is ongoing! 3/20
Read 25 tweets
1/5 It is done! After 4 years of intense study, field work in #Britain, #Germany, #Mexico and #Brazil my PhD is submitted - hardbound, handstiched. The politics of the invisible: #offshore finance and state power can be accessed here doi.org/10.17863/CAM.4….
2/5 I couldn't be more grateful for the excellent supervision by @HelenHet20 and Jason Sharman @Dept_of_POLIS. What an extraordinary experience!
3/5 A big thank you also to my viva examiners @JBRGreen and @fichtner_jan who read the thing cover to cover, asked great questions and gave helpful advice for the publications to come.
Read 5 tweets
FWIW, here are my subjective rankings of the #ToryLeadershipContest #tax cut proposals. (This is a personal view only - I don’t have a dog, or even a vote, in this fight.) In reverse order… (1/6)
No. 5 (i.e. last). Reform #VAT and replace with a sales tax (#Gove). Bad economics. VAT is a relatively efficient tax and the current system already allows the UK gov’t to set lower rates for some goods and services to help the poor. #Brexit will increase this flexibility. (2/6)
No. 4. Raise the threshold for paying the top rate of income tax (#Johnson). Neither one thing nor the other? Won’t actually make much difference to those earning just above the old threshold, or any difference to those who earn a lot less. (3/6)
Read 6 tweets
About 73% of Nigerian adults and nearly 70% of businesses believe that it is not wrong or understandable to evade tax. Watch my @channelsTv interview on #BetterTax advocacy & findings of @officialNESG study on why many Nigerians don't want to pay #tax pwc.smh.re/05lW
Despite the ‘record’ tax collections by FIRS, States IRS, and the Nigeria Customs Service, Nigeria’s Tax to GDP ratio was 6.1% at the end of 2018 - one of the lowest in the world - but that doesn’t tell the full story.
Major reason for low tax compliance is citizens tax morale. A recent ‘Tax Perception Survey’ by NESG shows that tax morale (the willingness to pay tax and the belief that tax evasion is wrong) is very low among Nigerians.
Read 13 tweets
The Financial Stability Board (FSB) published a #Crypto-assets #regulators directory.
5 April 2019
The purpose: provide info on the relevant regulators&authorities in FSB #jurisdictions & international bodies dealing with crypto-asset issues, and the aspects they cover.
👉 fsb.org/2019/04/fsb-pu…

👉 Crypto-assets do not pose a material risk to global financial stability for now.
👉Vigilant monitoring is needed in light of the speed of market developments.
👉Broader policy issues:
1.#Consumer & #investor protection
2.Strong #market integrity #protocols
3. #AML & financing of terrorism (AML/CFT): #regulation, #supervision, implementation of international sanctions
4.#Tax evasion
5.Illegal #securities offerings #ICO
Read 6 tweets
#PURIMLIMERICKS!

Chapter 1:
In #Persia, in days long ago
The king tossed 'em back like a pro.
But he wasn't amused
when Queen #Vashti refused,
so he opted to change status quo.
#PURIMLIMERICKS!

Chapter 2:
#Achashveirosh's anger was shed
and he thought, "It's about time I be wed."
Then just as was planned,
he took #Esther's hand --
though her or'gins she kept in her head.
#PURIMLIMERICKS!

Chapter 3 (part 1):
The royal advisers just stared
when #Mordechai wasn't prepared
to bow to a man
whose Amalekite clan
had too often in mem'ry been spared.
Read 23 tweets
0/ The #cryptocurrency/#blockchain ecosystem is finishing the week in a flurry!

Below, I've condensed 19 of Friday's #crypto developments into one single #Twitter thread. All for your convenience. Enjoy!
1/ 🗽 New York State's D.F.S. granted both @LibertyX (fiat-to-#bitcoin service) and @RobinhoodApp (#crypto exchange) a #BitLicense to operate their respective businesses in the state of #NewYork. The latter also received a money transmitter license. dfs.ny.gov/about/press/pr…
2/ 📊 Social, peer-to-peer user #data network @3Boxdb has partnered with @AlethioEthstats to deliver the first #Ethereum block explorer with built-in social profiling functionality.

Can't wait to give this a try. Such a neat, value-adding integration for the budding #web3 space!
Read 20 tweets
Remember when Angela Merkel asked scientists to come up with a way to tax data? Here is what we (@DSchanzLMU, J. Englisch and me) came up with. #tax #taxtwitter
To be clear, all this is very tentative - a first pass at a complex, incredibly messy problem. There'll be a number of revisions ahead. So please, #taxtwitter, do your magic and poke some holes in it.
Sorry, here is the link.
papers.ssrn.com/sol3/papers.cf…
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001/ [article content in this tweet series 001-180 reproduced with permission from Martin Howe QC of Lawyers for Britain @lawyers4britain]
#quote "Leaving the EU on WTO terms: pulling down the barriers to world trade
Introduction: why prices will FALL after Brexit, not rise" /002
002/ #quote "Over the past couple of weeks, the media have been full of lurid scare stories about what will happen if the UK leaves the EU on WTO terms, because negotiations with the EU do not result in a withdrawal agreement." /003
#tariffs #NoDeal #Brexit #WTO #ProjectFear #shortages #food #medicines
003/ #quote "One of the most ridiculous and UNJUSTIFIED of these absurd scare stories is that it will lead to higher prices, and even shortages, of foods and medicines." /004
Read 180 tweets
0/ Thread. Having spent some time with @Nicolas_Colin on his new book HEDGE about #tech, #entrepreneurship, social #policy and the future of the Safety Net, I'm sharing some things that stuck with me, and why HEDGE is one for the ☀️📚📝 #readinglist amazon.com/Hedge-Greater-…
1/ @Nicolas_Colin is thought-provoking not least because of his vantage point - graduated from the French ENA, worked at the top of the French civil service, set up his own company, and invests in startups all over 🇪🇺 with @_TheFamily
2/ Im not one for party politics, and HEDGE isn't about that. It's a book that speaks to the zeitgeist of the #techlash and ways for #startup #founders and #politicians to think about smart, sensible policies to build an inclusive Safety Net 2.0 📖
Read 14 tweets
One of #Canada #Ottawa's largest mosques loses charity status for promoting ‘hate and intolerance’ via @StewartBellNP
globalnews.ca/news/4373959/o…
“Many of the views expressed by the organization’s speakers are misogynistic, homophobic, racist and/or promote violence,” the @CanRevAgency Charities Branch wrote in a letter sent to the mosque president.
It means the mosque no longer benefits from the #tax advantages enjoyed by government-registered charities. Foremost, it cannot issue receipts allowing donors to claim their contributions as income tax deductions.
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.@ATAFtax launches 2018 African Tax Outlook. #ATAFNexus2018
Average #tax to GDP ratio for #Africa was 16.2% in 2016 compared to the 34.3% @OECD average and 22.8% in Latin America.
#VAT was the highest contributor to #tax revenue in all countries. Personal income tax came second (lower in ECOWAS at 13% compared to 23% in SADC and EAC).
Read 10 tweets

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