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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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| 08/09 New
PBTG Editor Column, Caroline, PBTG editor |
| 07/09
Flaws Uncovered In UK PAYE Tax System, Tax-News.com |
| 06/09
German Cabinet Agrees 'Future Package', Tax-News.com |
| 03/09
South Africa Rejects Mining Tax, Tax-News.com |
| 02/09 New
Lowtax Editor Column, by Kitty Miv |
| 01/09 New
PBTG Editor Column, Caroline, PBTG editor |
| 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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|
US Tax Filers Pay Average 13.8% Tax Rate,
by Glen Shapiro, LawAndTax-News.com, New York 06 March 2009
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The average tax rate for taxable returns filed with the US Internal Revenue
Service in 2006 was 13.8%, an increase of approximately 0.2% from 2005, according
to the winter 2009 issue of the Statistics of Income Bulletin.
The Bulletin, released on March 3, features information on 138.4 million individual
income tax returns filed for tax year 2006. Of those returns, about 93 million,
or 67%, were taxable, which means that the taxpayer reported total income tax
greater than zero. The total number of taxable returns in tax year 2006 was
up 2.4% from 2005.
Adjusted gross income on these 93 million returns totaled more than USD7.4
trillion, which was up 8.5% from 2005. Total income tax on these returns totaled
approximately USD1 trillion, up 9.5% from 2005. Adjusted gross income is total
income, as defined by the tax code, less statutory adjustments - primarily business,
investment or certain other deductions.
Taxpayers in the top 1% of adjusted gross income reported adjusted gross income
of at least USD388,806 in tax year 2006. This group accounted for 22.1% of all
adjusted gross income for 2006, up 0.9% from the prior year. This group also
accounted for 39.9% of the total income tax reported, an increase from 39.4%
in 2005.
Taxpayers in the top 5% of adjusted gross income reported adjusted gross income
of at least USD153,542. This group accounted for 36.7% of adjusted gross income
and 60.1% of total income tax.
The Bulletin also shows that split-interest trusts reported USD12.2bn in total
net income in filing year 2007, an increase of 22.1% since 2006. Charitable
and other tax-exempt organizations reported more than USD10bn in gross unrelated
business income for tax year 2005.
Foreign persons received USD378.4bn in US source income during tax year 2005,
according to the Bulletin, and USD333.2bn of that amount, or 88.0%, was exempt
from withholding taxes. For tax year 2005, interest payments accounted for 56%
(USD211.8bn) of total income paid to foreign recipients.
.
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| THE LOWTAX LIBRARY
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