Some of the weirdest tax rules around the world.

A thread...
1. Pro-cigarette smoking tax revenue : Smokers around the world are used to paying high taxes on cigarettes that are levied by governments to dissuade smoking.
However, in 2009, China was facing a tough economic crisis, and the majority of local taxes were derived from cigarette sales.

So the citizens of the central-Chinese Hubei province were given a weird choice - to either smoke cigarettes or face a fine.
2. Junk Food Tax: If you’re hungry in Hungary, you better look for something other than junk food, or else you’ll have to pay the country’s junk food tax, officially called the public health product tax.
This tax is levied on packaged snacks high in salt and sugar – as well as sodas and energy drinks.

The tax was introduced to reduce “consumption of food products that are not useful from a public health point of view and to promote a healthy diet."
3. Wine Equalization Tax & 16 Beer Tax Rates: Getting drunk in Australia could be an expensive affair if you’re not mindful about the type of alcohol you buy. That’s because these products are taxed based on the alcohol content.
So the merrier the drink makes you feel, the higher the tax rate. For instance, there’s a wine equalization tax of 29 percent of the wholesale value of wine. For beer alone, there are 16 different tax rates in the country.
4. Cow Tax: Well, you can call it the methane tax, or the cow tax, or the flatulence tax, but the bottom line is that Denmark has adopted this strange tax strategy to take on climate change.
We’re talking about taxing farmers or people who own cows, for owning cows — because cows are among the most significant producers of methane in the world. This is done in order to curb greenhouse gas emissions.

• • •

Missing some Tweet in this thread? You can try to force a refresh
 

Keep Current with Finshots

Finshots Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

PDF

Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @finshots

24 Jun
Reliance AGM!! Here we go. Stay tuned with us for live updates & key announcements!
Here's what Reliance has been doing to fight COVID-19:

1. Reliance is producing 11% of India’s total liquid oxygen, the highest by any Indian company

2. Gave away 7.5 Cr free meals to marginalised communities, daily wage earners and front line workers
3. Set up 116 Vaccination centres in 109 cities

4. Conducted the largest corporate vaccination drive for its employees across the country
Read 11 tweets
23 Jun
🚀 Why is Tide detergent going to space?

A thread...
It seems like Tide detergent will soon be going to space.

"Chaunk gaye?"

The P&G brand has partnered with NASA, in a deal worth ~$111,000, to keep clothes clean, even in outer space. The two are working on the first laundry detergent designed for space.
When it comes to space you need specialised products for everything. You can’t simply start using things we use on Earth.

And laundry is a big problem too. Since water is limited up there, astronauts can’t wash their suits & clothes everyday.
Read 8 tweets
16 Jun
Everyone loves a good burger.

But what if we told you that the same burger moonlights as an economic tool?

A thread...
Well, back in 1986, The Economist introduced the “Big Mac Index” to evaluate the value of currencies across countries via McDonald’s ubiquitous Big Mac burger & this concept came to be known as Burgernomics.

So how does it work?
Suppose a Big Mac costs $5 in the US and 20 Yuan in China. The Big Mac exchange rate would then be 5:20 or 1:4.

However, if the actual exchange ratio was 1:5, investors might predict that the Yuan is cheaper/undervalued by 20%.
Read 8 tweets
6 Jun
Some of the most unusual economic indicators you've probably never heard of-

A thread...
1. Men’s underwear Index: Accordingly to this index, a decline in men’s underwear sales indicates a poor overall state of economy, while an upswing in sales predicts an improving economy.
Hence, by tracking the sales of men's underwear, we might be able to detect the relative health of the economy.
Read 10 tweets
1 Jun
Why is the Indian govt. pushing for a 'land bank'?
In her 2021 budget speech, FM Nirmala Sitharaman announced that the govt will set up a land bank. And recently, the Department of Investment and Public Asset Management (DIPAM) has finalized the structure of this bank to get rid of unproductive landholdings of PSUs
So what exactly is a ‘land bank’? Basically, it is an entity to help manage and dispose of vacant land & to put it to better, more productive use. This single entity will handle all the landholdings of the PSUs.
Read 8 tweets
8 Jan
For the first time ever, a credit rating agency in China is forced to pay ~$8 million for bond defaults of a construction firm.

Why?

A thread...
You see, Credit Rating Agencies (CRAs) are independent entities that evaluate a borrower's creditworthiness. They tell you about a borrower’s state of affairs and offer you an objective assessment of their repayment ability.
And if a company is rated by a CRA, the chances of scoring a loan increase rather disproportionately. So, most corporates actively seek out CRAs to get a rating and pay them good money in the process. Of course, it’s not a bribe. It’s just professional fees.
Read 6 tweets

Did Thread Reader help you today?

Support us! We are indie developers!


This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!

Follow Us on Twitter!

:(