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Border-adjustment Tax
A border-adjustment tax (also known as a border-adjusted tax, destination tax, destination-based cash flow tax or a border tax adjustment) is a tax on goods based on location of final consumption rather than production. It allegedly eliminates incentives for companies to reduce their tax bills through tax inversion and intangible asset relocation. History The concept of a border-adjustment tax was originally the subject of a 1997 article by economist Alan J. Auerbach. Auerbach worked with Michael Devereux, who had introduced with Stephen R. Bond, the term destination-based corporate tax. Auerbach described a system that he claimed would align business incentives with the national interest. Currency adjustment While it may appear that this would increase consumer prices, Auerbach's theory holds that a border-adjustment tax would strengthen the domestic currency by a proportion corresponding to the tax rate. The stronger domestic currency would effectively reduce the price of i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Destination-based Cash Flow Tax
A destination-based cash flow tax (DBCFT) is a form of border adjustment tax (BAT) that was proposed in the United States by the Republican Party in their 2016 policy paper "''A Better Way — Our Vision for a Confident America''", which promoted a move to the tax. It has been described by some sources as simply a form of import tariff, while others have argued that it has different consequences than those of a simple tariff. The proposed tax is a destination-based, border-adjustable international corporate consumption tax system in which a tax is "applied to all domestic consumption and excludes any goods or services that are produced domestically, but consumed elsewhere." The border adjustments included in the proposal are "taxes or tax reductions that apply when payments for goods and services cross international borders." Imported goods purchased/consumed domestically are subject to the tax while goods produced domestically and sold internationally are exempt. According to ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tax Inversion
A tax inversion or corporate tax inversion is a form of tax avoidance where a corporation restructures so that the current parent is replaced by a foreign parent, and the original parent company becomes a subsidiary of the foreign parent, thus moving its tax residence to the foreign country. Executives and operational headquarters can stay in the original country. The US definition requires that the original shareholders remain a majority control of the post-inverted company. The majority of the less than 100 material tax inversions recorded since 1993 have been of US corporations (85 inversions), seeking to pay less to the US corporate tax system. The only other jurisdiction to experience a material outflow of tax inversions was the United Kingdom from 2007 to 2010 (22 inversions); however, UK inversions largely ceased post the reform of the UK corporate tax code from 2009 to 2012. The first inversion was McDermott International in 1983. Reforms by US Congress in 2004 hal ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Intangible Asset
An intangible asset is an asset that lacks physical substance. Examples are patents, copyright, franchises, goodwill, trademarks, and trade names, as well as software. This is in contrast to physical assets (machinery, buildings, etc.) and financial assets (government securities, etc.). An intangible asset is usually very difficult to valuate. They suffer from typical market failures of non- rivalry and non- excludability.Webster, Elisabeth; Jensen, Paul H. (2006). ''Investment in Intangible Capital: An Enterprise Perspective.'' The Economic Record, Vol. 82, No. 256, March, 82-96. Today, a large part of the corporate economy ( NPV) consists of intangible assets. Definition Intangible assets may be one possible contributor to the disparity between "company value as per their accounting records", as well as "company value as per their market capitalization". Considering this argument, it is important to understand what an intangible asset truly is in the eyes of an accountant. A n ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Forbes
''Forbes'' () is an American business magazine owned by Integrated Whale Media Investments and the Forbes family. Published eight times a year, it features articles on finance, industry, investing, and marketing topics. ''Forbes'' also reports on related subjects such as technology, communications, science, politics, and law. It is based in Jersey City, New Jersey. Competitors in the national business magazine category include '' Fortune'' and ''Bloomberg Businessweek''. ''Forbes'' has an international edition in Asia as well as editions produced under license in 27 countries and regions worldwide. The magazine is well known for its lists and rankings, including of the richest Americans (the Forbes 400), of the America's Wealthiest Celebrities, of the world's top companies (the Forbes Global 2000), Forbes list of the World's Most Powerful People, and The World's Billionaires. The motto of ''Forbes'' magazine is "Change the World". Its chair and editor-in-chief is St ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The New York Times
''The New York Times'' (''the Times'', ''NYT'', or the Gray Lady) is a daily newspaper based in New York City with a worldwide readership reported in 2020 to comprise a declining 840,000 paid print subscribers, and a growing 6 million paid digital subscribers. It also is a producer of popular podcasts such as '' The Daily''. Founded in 1851 by Henry Jarvis Raymond and George Jones, it was initially published by Raymond, Jones & Company. The ''Times'' has won 132 Pulitzer Prizes, the most of any newspaper, and has long been regarded as a national "newspaper of record". For print it is ranked 18th in the world by circulation and 3rd in the U.S. The paper is owned by the New York Times Company, which is publicly traded. It has been governed by the Sulzberger family since 1896, through a dual-class share structure after its shares became publicly traded. A. G. Sulzberger, the paper's publisher and the company's chairman, is the fifth generation of the family to head the p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Republican Party (United States)
The Republican Party, also referred to as the GOP ("Grand Old Party"), is one of the two major contemporary political parties in the United States. The GOP was founded in 1854 by anti-slavery activists who opposed the Kansas–Nebraska Act, which allowed for the potential expansion of chattel slavery into the western territories. Since Ronald Reagan's presidency in the 1980s, conservatism has been the dominant ideology of the GOP. It has been the main political rival of the Democratic Party since the mid-1850s. The Republican Party's intellectual predecessor is considered to be Northern members of the Whig Party, with Republican presidents Abraham Lincoln, Rutherford B. Hayes, Chester A. Arthur, and Benjamin Harrison all being Whigs before switching to the party, from which they were elected. The collapse of the Whigs, which had previously been one of the two major parties in the country, strengthened the party's electoral success. Upon its founding, it supported cl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Brookings Institution
The Brookings Institution, often stylized as simply Brookings, is an American research group founded in 1916. Located on Think Tank Row in Washington, D.C., the organization conducts research and education in the social sciences, primarily in economics (and tax policy), metropolitan policy, governance, foreign policy, global economy, and economic development. Its stated mission is to "provide innovative and practical recommendations that advance three broad goals: strengthen American democracy; foster the economic and social welfare, security and opportunity of all Americans; and secure a more open, safe, prosperous, and cooperative international system." Brookings has five research programs at its Washington campus: Economic Studies, Foreign Policy, Governance Studies, Global Economy and Development, and Metropolitan Policy. It also established and operated three international centers in Doha, Qatar (Brookings Doha Center); Beijing, China (Brookings-Tsinghua Center for Publi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gary Cohn (investment Banker)
Gary David Cohn (born August 27, 1960) is an American business leader who served as the 11th Director of the National Economic Council and chief economic advisor to President Donald Trump from 2017 to 2018. He managed the administration's economic policy agenda. Before serving in the White House, Cohn was president and COO of Goldman Sachs, where he worked for more than 25 years. Cohn was appointed vice-chairman of IBM on January 5, 2021. Following his White House service, Cohn became an advisor and venture capital investor for companies operating in the cybersecurity, blockchain infrastructure, and medical technology sectors. He currently serves on the Board of Advisors for Hoyos Integrity, a startup company employing biometric blockchain technology for secure communications and digital payments, and vice chairman of IBM. Cohn is also the chairman of the advisory board at Pallas Advisors, a national security strategic advisory firm based in Washington, D.C. Early life and e ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
National Economic Council (United States)
National may refer to: Common uses * Nation or country ** Nationality – a ''national'' is a person who is subject to a nation, regardless of whether the person has full rights as a citizen Places in the United States * National, Maryland, census-designated place * National, Nevada, ghost town * National, Utah, ghost town * National, West Virginia, unincorporated community Commerce * National (brand), a brand name of electronic goods from Panasonic * National Benzole (or simply known as National), former petrol station chain in the UK, merged with BP * National Car Rental, an American rental car company * National Energy Systems, a former name of Eco Marine Power * National Entertainment Commission, a former name of the Media Rating Council * National Motor Vehicle Company, Indianapolis, Indiana, USA 1900-1924 * National Supermarkets, a defunct American grocery store chain * National String Instrument Corporation, a guitar company formed to manufacture the first res ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Koch Family
The Koch family ( ) is an American family engaged in business, best known for their political activities and their control of Koch Industries, the 2nd largest privately owned company in the United States (with 2019 revenues of $115 billion). The family business was started by Fred C. Koch, who developed a new cracking method for the refinement of heavy crude oil into gasoline. Fred's four sons litigated against each other over their interests in the business during the 1980s and 1990s. By 2019, Charles Koch and David Koch, commonly referred to as the Koch brothers, were the only ones of Fred Koch's four sons still with Koch Industries. Charles and David Koch built a political network of libertarian and conservative donors, and the brothers funneled financial revenue into television and multi-media advertising. David Koch died in August 2019. Family members * Fred C. Koch (1900–1967), American chemical engineer and entrepreneur who founded the oil refinery firm that ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Americans For Prosperity
Americans for Prosperity (AFP), founded in 2004, is a libertarian conservative political advocacy group in the United States funded by Charles Koch and formerly his brother David. As the Koch brothers' primary political advocacy group, it is one of the most influential American conservative organizations. After the 2009 inauguration of President Barack Obama, AFP helped transform the Tea Party movement into a political force. It organized significant opposition to Obama administration initiatives such as global warming regulation, the Patient Protection and Affordable Care Act, the expansion of Medicaid and economic stimulus. It helped turn back cap and trade, the major environmental proposal of Obama's first term. AFP advocated for limits on the collective bargaining rights of public-sector trade unions and for right-to-work laws, and it opposed raising the federal minimum wage. AFP played an active role in the achievement of the Republican majority in the House of Representati ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Destination-based Cash Flow Tax
A destination-based cash flow tax (DBCFT) is a form of border adjustment tax (BAT) that was proposed in the United States by the Republican Party in their 2016 policy paper "''A Better Way — Our Vision for a Confident America''", which promoted a move to the tax. It has been described by some sources as simply a form of import tariff, while others have argued that it has different consequences than those of a simple tariff. The proposed tax is a destination-based, border-adjustable international corporate consumption tax system in which a tax is "applied to all domestic consumption and excludes any goods or services that are produced domestically, but consumed elsewhere." The border adjustments included in the proposal are "taxes or tax reductions that apply when payments for goods and services cross international borders." Imported goods purchased/consumed domestically are subject to the tax while goods produced domestically and sold internationally are exempt. According to ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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