the application of a domestic tax on imported goods while exempting exported goods from the tax in an effort to make the exported goods' price competitive both nationally and internationally
ROCHESTER, N.Y. -- Bausch & Lomb (NYSE: BOL) has received a Notice of Final Partnership Administrative Adjustment from the Internal Revenue Service relating to tax years ending June 24, 1999 and December 25, 1999, for Wilmington Partners L.P., a partnership formed in 1993 in which the majority of partnership interests...
This document, 1 prepared by the staff of the Joint Committee on Taxation, contains background materials relating to various business tax issues. This document contains: (1) an overview of the U. S. Federal tax system (including the taxation of cross-border transactions); (2) an overview of the tax systems of selected...
The paper reveals how the tax design called the X Tax would facilitate an international tax system free of many of the complexities and avoidance opportunities plaguing the existing international tax regime and also have neutrality properties generally deemed desirable. The destination-principle approach sidesteps the need to identify arm's length...
This article discusses the tax treatment of trans-border capital income, focusing on prevailing arrangements rather than de novo design of optimal tax arrangements. These comprise unilateral relief's from double taxation under credit or exemption systems, and treaty relief's largely following the OECD model treaty which jointly lower withholding tax rates...
NEW YORK -- Leucadia National Corporation (NYSE:LUK) today announced its operating results for the year ended December 31, 2005. During 2005, the Company recorded an adjustment that reduced the deferred tax asset valuation allowance and credited income tax expense by $1,135,100,000. Although this adjustment significantly increases reported net income for...
This paper considers the treatment of multinational business in the system known as an X Tax. The focus is on the choice between origin and destination treatments of trans-border transactions. The destination-principle approach sidesteps the transfer pricing problem. The paper suggests special rules for trans-border transactions between related parties to...
NEW YORK -- Leucadia National Corporation (LUK - NYSE) today announced its operating results for the six month period ended June 30, 2005. In June 2005, the Company recorded an adjustment that reduced the deferred tax asset valuation allowance and credited income tax expense by $1,110,000,000. Although this adjustment significantly...
PLEASANTON, Calif. -- Safeway Inc. (NYSE:SWY) announced today that it will incur a non-cash lease expense adjustment of $6.5 million, after tax ($0.014 per diluted share) in its fourth quarter of 2004. This adjustment will conform the Company's lease accounting policies to views expressed by the Office of the Chief...
From the executive summary: ‘During the past decade, there has been a surge in outsourcing by businesses both in the United States and abroad. In the face of this surge in outsourcing, some commentators have understood the need for businesses to make an educated decision about whether and what to...
The author of this article says that the opportunities for bottom-line tax savings for a multinational corporation more evident than in cross-border strategies. It's one thing to achieve compliance with the tax laws of each jurisdiction in which your company has operations. But strategically structuring your organization and its transactions...
ST. PAUL, Minn.--BUSINESS WIRE--Aug. 29, 1996-- Secure Computing Corporation (Nasdaq: SCUR) today announced that it has completed its acquisition of Border Network Technologies. Under the terms of the acquisition, Secure Computing issued 6.6 million shares, options and warrants for all outstanding shares, options and warrants of Border. The...
In this paper the adjustment process in a designated group of expatriates, teachers, who have severed ties with their home country and employer is investigated. Based on existing literature, the value of self-efficacy and flexibility on the adjustment process was explored. It was hypothesised that adjustment would result in reduced...
ROGERS, Conn. -- Rogers Corporation (NYSE:ROG) announced today that for the third fiscal quarter of 2005, net income was $0.49 per diluted share, which includes a net positive adjustment associated with a favorable Internal Revenue Service determination on previous Durel Corporation federal income tax filings. This compares to earnings per...
NEW YORK -- Leucadia National Corporation (LUK: NYSE) today announced its operating results for the nine month period ended September 30, 2005. During 2005, the Company recorded an adjustment that reduced the deferred tax asset valuation allowance and credited income tax expense by $1,135,100,000. Although this adjustment significantly increases reported...
BURLINGTON, Mass. -- Acme Packet, Inc. (NASDAQ: APKT), the leader in session border control solutions, today filed with the Securities and Exchange Commission a Current Report on Form 8-K to disclose that it had determined that an adjustment was required to the calculation of the weighted average number of common...
Cross-border trade in services is growing rapidly, with both developed and developing countries among the most dynamic exporters. Despite the substantial global benefits from such trade, the adjustment pressures created in importing countries could provoke a protectionist backlash - some signs of which are already visible in procurement and regulatory...
The United States Border Patrol USBP has a long and storied history as our nation's first line of defense against unauthorized migration. Today, the USBP's primary mission is to detect and prevent the entry of terrorists, weapons of mass destruction, and illegal aliens into the country, and to interdict drug...
This paper develops a model in which agents have a conflict of interest over what instrument to use for policy adjustment in response to shocks. Three different government systems are analyzed: cabinet systems, in which one decision-maker has full control over adjustment policies; consensus systems, in which adjustment policies must...
The founder of an alleged pyramid scheme called Renaissance, The Tax People, was arrested Monday crossing the border from Mexico to the United States near Laredo, Texas, a federal official said Tuesday.
This article discusses the process by which the law of cross-border securitization evolves and becomes uniform. New forms of cross-border securitization and new legal issues emerge while old forms and settled issues solidify into rules. In the beginning, article defines the meaning of a unified cross-border securitization "law." It also...
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