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New On The Network Today
This feed is published daily with selected new or updated
content from across our network. For a list of network sites, many of
which feature daily news, see below. |
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| 02/09 New
Lowtax Editor Column, by Kitty Miv |
| 01/09 International
Privacy and Security, Investors Offshore special feature |
| 31/08
Lowtax Belize, annual update |
| 27/08
IRS To Drop UBS Lawsuit, Tax-News.com |
| 26/08 New
Lowtax Editor Column, by Kitty Miv |
| 25/08 New
PBTG Editor Column, Caroline, PBTG editor |
| 24/08
Uruguay Stays On OECD Grey List, Tax-News.com |
| 23/08 Don't
Forget Doha, And I Don't Mean The Tennis, Jeremy Hetherington-Gore
blog entry |
| 20/08
Ireland Plans Social Security Overhaul, Tax-News.com |
| 19/08 New
Lowtax Editor Column, by Kitty Miv |
| 18/08 New
PBTG Editor Column, Caroline, PBTG editor |
| 17/06
Lowtax Cayman Islands, annual update |
| 16/08
Germany's Fiscal Court Seeks Property Tax Reform, Tax-News.com |
| 13/08 Jurisdiction
Special Focus: Antigua and Barbuda, Investors Offshore special feature |
| 12/08 New
Lowtax Editor Column, by Kitty Miv |
| 11/08 New
PBTG Editor Column, Caroline, PBTG editor |
| 10/08 Brazil
Cuts Import Tariffs, Tax-News.com |
| 09/08 Ukraine
Tax Code Published, Tax-News.com |
| 06/08
France Plans Reform Of Property Tax Credit, Tax-News.com |
| 04/08 New
PBTG Editor Column, Caroline, PBTG editor |
| 02/08 Islamic
Finance - The New Mainstream Alternative, Investors Offshore special
feature |
| 28/07 New
PBTG Editor Column, Caroline, PBTG editor |
| 27/07 UK
Launches Raft Of Tax Consultations, Tax-News.com |
| 26/07 Fat
Tax On The Menu , Jeremy Hetherington-Gore blog entry |
| 23/07 Sarkozy
Seeks 'Fiscal Convergence' With Germany, Tax-News.com |
| 20/07 Singapore
Base For Tuvalu OIFC, Tax-News.com |
| 15/07 St
Vincent & The Grenadines, Investors Offshore special feature |
13/07 Tax-
News.com Jersey Review 2010-2011 |
| 12/07 Goodbye
To All That, Jeremy Hetherington-Gore blog entry |
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06/07 Hong
Kong Full PBTG Guide, added to Personal Business Tax Guide |
| 28/06
Lowtax Dubai, annual update |
| 18/06 Singapore
- Another Hong Kong?, Investors Offshore special feature |
| 15/06 Swiss
Parliament Approves UBS Agreement, Tax-News.com |
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08/06 Dubai
Full PBTG Guide, added to Personal Business Tax Guide |
| 04/06
Lowtax Panama, annual update |
| 01/06
Lowtax Luxembourg, annual update |
| 03/03
Personal Business
Tax Guide, PBTG, has launched! |
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| Providing essential tax news and information for globally
mobile artists, contractors, entrepreneurs, professionals, small businesses,
sportspersons and entertainers. |
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| Lowtax Network Sites |
| Lowtax Network Portal:
'Low-tax' business and investment in the top 50 jurisdictions covered in
exceptional detail. |
| Tax News: Global
tax news, continuously updated through the day. |
| Investors Offshore:
The independent offshore and alternative investment guide for expatriates
and the globally aware investor. Sponsored by HSBC
Bank International. |
| Law & Tax
News: Daily news and background data on tax and legal developments
for international business. |
| Offshore-e-com:
A topical guide to offshore e-commerce focused on tax and regulation. |
| Lowtax Library:
One of the web's largest and most authoritative business and investment
information sources. |
| US Tax Network:
The resource for free online US taxation information, covering: corporate
tax, individual tax, international tax, expatriates, sales and e-commerce
tax, investment tax. |
| NEW! Personal
Business Tax Guide: Providing essential tax news and information
on business for contractors, entrepreneurs, professionals, small businesses,
artists, sportspersons and entertainers. |
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Tax Competitiveness Report Brands US 'High Tax' Economy,
by Mike Godfrey, Tax-News.com, Washington 22 September 2006
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The US and Canada share the spotlight with such countries as the Republic of
Congo, China, Brazil and Germany in having some of the highest effective tax
rates on capital among 81 developed and developing countries, according to a
study by the CD Howe Institute, the Canadian conservative think tank.
The 2006 Tax Competitiveness Report scores 81 developed and developing countries
according to their tax treatment of business investment. The study was co-authored
by Jack M. Mintz, Professor of Business Economics, Rotman School of Management
at the University of Toronto and Fellow-in-Residence at the Institute and Duanjie
Chen, George Weston Tax Analyst at the Institute.
According to its conclusions, highly taxed Canada ranks a disappointing 8th,
while the "investment-hostile" Republic of Congo ranks first. However,
it found that the US ranks among the most heavily burdened, with an effective
tax rate on capital of 38%, above its neighbours Canada at 36.6% and low-tax
Mexico at 13.8%.
The study also came to the somewhat surprising conclusion that China has the
second highest effective tax rate at 47%, largely driven by its non-refundable
17% value-added tax applied to purchases of machinery. This falls to 18% however,
when account is taken of VAT refunds on machinery which are offered by some provincial governments
to attract investment.
Argentina, Brazil and Germany complete the top five in the list of tax-burden
"bad boys."
Unsurprisingly, the most tax-favoured jurisdictions include Hong Kong at 6.1%,
Singapore at 11.5% and Ireland at 14%, reflecting their low corporate income
tax rates.
Belgium has the lowest effective tax rate on capital amongst all 81 countries
at -4.4%, resulting from the introduction of a notional deduction for equity
financing. With both bond and equity financing deductions, Belgian companies
are able to claim a higher tax value of deductions compared to the tax levied
on income earned from investments, the study noted.
"The US certainly looks like a high-tax country when it comes to business
taxation," Chen and Mintz noted, agreeing with the conclusions of the Presidential
tax reform panel that the US corporate tax system is "a major barrier to
investment and growth, degrading other strengths of the US economy."
"Instead of using the tax system to interfere with economically sound
business decisions, it would be much better to have a broadbased neutral corporate
income tax with low rates to create a better business environment. Simplification
would make it easier for taxpayers to comply with the system and for the IRS
to administer the tax system," they observed.
"The saving in compliance and administrative costs would be good for the
US economy as well," they added.
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