Friday, March 29, 2019

Mike West Traffic Even Jump Higher - Chatham House



Secret Cabinet Office document reveals chaotic planning for no-deal Brexit Guardian


ASIC expects more referrals to prosecutors for wealth industry wrongdoing

The corporate watchdog is looking at about 20 matters where criminal offences may have been committed in the wealth management sector.

Australia's richest and poorest postcodes revealed in ATO's 2016-17 tax statistics
ABC 

The ATO is gobbling up income growth: RBA - report that the RBA has said that a crackdown on tax deductions and better technology from the ATO is contributing to slower income growth and slower consumption


Stunning win for Chemist Warehouse workers on both wages and labour hire

The workers have been on a two-week strike at the cut-price Chemist's distribution hubs, which had led to shortages on the shelves.



Ohio State hosted a symposium yesterday on Artificial Intelligence and the Future of Tax Law and Policy (program)


Congressional Research Service, Digital Services Taxes (DSTs): Policy and Economic Analysis (R45532) (Feb. 25, 2019):

Several countries, primarily in Europe, and the European Commission have proposed or adopted taxes on revenue earned by multinational corporations (MNCs) in certain “digital economy” sectors from activities linked to the user-based activity of their residents. These proposals have generally been labeled as “digital services taxes” (DSTs). For example, beginning in 2019, Spain is imposing a DST of 3% on online advertising, online marketplaces, and data transfer service (i.e., revenue from sales of user activities) within Spain. Only firms with €750 million in worldwide revenue and €3 million in revenues with users in Spain are to be subject to the tax. In 2020, the UK plans to implement a 3% DST that would apply only to businesses whose revenues exceed £25 million per year and groups that generate global revenues from search engines, social media platforms, and online marketplaces in excess of £500 million annually. The UK labels its DST as an “interim” solution until international tax rules are modified to allow countries to tax the profits of foreign MNCs if they have a substantial enough “digital presence” based on local users. The member states of the European Commission are also actively considering such a rule. These policies are being considered and enacted against a backdrop of ongoing, multilateral negotiations among members and nonmembers of the Organization for Economic Cooperation and Development (OECD).These negotiations, prompted by discussions of the digital economy, could result in significant changes for the international tax system.





Among many things, the Tax Cuts and Jobs Act of 2017 affected the so-called marriage penalty, which occurs when a couple’s total tax bill rises as a result of getting married and filing their taxes jointly.










Good news! Website traffic is up 60 per cent over the last three months. It was running at 71,000 last month, according to this story, up from 44,000 last November. Big thanks for those sharing stories and especially for financial supporters who make this all possible. The Top 40 Tax Dodgers Countdown went well. Our Top 40 Tax Heroes (the Good Guys) will be published shortly. For those who prefer to hear it than read it, here is a video clip of Late Night Live with Phillip Adams.