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Mineral Tax
A mineral tax is any tax, excise or other government-imposed fee on mineral resources, such as crude oil or ores. The taxation of minerals serves as a price to extract scarce resources, such as petroleum and crude oil, which are owned by the government. By taxing minerals, the government is able to secure a certain share of the minerals. Mineral taxes should possess neutral characteristics, to maintain incentives for investors and maximize the tax revenue for the government, while minimizing the variability and uncertainty of the amount of tax money collected. Since the 1950s it is more common to use special taxes like royalty taxes with ordinary taxes. Taxing minerals is the more economic approach to incentivise environmental thinking and an alternative to intervene in the market directly. Level of taxation The decision about the size of the tax influences the allocative decisions of the firms. If the government sets a tax which firms consider as too high, they will extract less ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Excise
file:Lincoln Beer Stamp 1871.JPG, upright=1.2, 1871 U.S. Revenue stamp for 1/6 barrel of beer. Brewers would receive the stamp sheets, cut them into individual stamps, cancel them, and paste them over the Bunghole, bung of the beer barrel so when the barrel was tapped it would destroy the stamp. An excise, or excise tax, is any duty (economics), duty on manufactured goods (economics), goods that is normally levied at the moment of manufacture for internal consumption rather than at sale. It is therefore a fee that must be paid in order to consume certain products. Excises are often associated with customs duties, which are levied on pre-existing goods when they cross a designated border in a specific direction; customs are levied on goods that become taxable items at the ''border'', while excise is levied on goods that came into existence ''inland''. An excise is considered an indirect tax, meaning that the producer or seller who pays the levy to the government is expected to try ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ad Valorem Tax
An ''ad valorem'' tax (Latin for "according to value") is a tax whose amount is based on the value of a transaction or of a property. It is typically imposed at the time of a transaction, as in the case of a sales tax or value-added tax (VAT). An ''ad valorem'' tax may also be imposed annually, as in the case of a real or personal property tax, or in connection with another significant event (e.g. inheritance tax, expatriation tax, or tariff). In some countries, a stamp duty is imposed as an ''ad valorem'' tax. Operation All ad valorem taxes are collected according to the determined value of the taxed item. In the most common application of ad valorem taxes, namely municipal property taxes, public tax assessors regularly assess the property owner's real estate in order to determine its current value. The determined value of the property is used to calculate the annual tax collected by the municipality or any other government entity upon the property owner. Ad valorem ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fuel Tax
A fuel tax (also known as a petrol, gasoline or gas tax, or as a fuel duty) is an excise tax imposed on the sale of fuel. In most countries, the fuel tax is imposed on fuels which are intended for transportation. Fuel tax receipts are often dedicated or hypothecated to transportation projects, in which case the fuel tax can be considered a user fee. In other countries, the fuel tax is a source of general revenue. Sometimes, a fuel tax is used as an ecotax, to promote ecological sustainability. Fuel taxes are often considered by government agencies such as the Internal Revenue Service as regressive taxes. Fuels used to power agricultural vehicles, as well as home heating oil which is similar to diesel, are taxed at a different, usually lower rate. These fuels may be dyed to prevent their use for transportation. Aviation fuel is typically charged at a different rate to fuel for ground-based vehicles. Jet fuel and avgas can attract different rates. In many jurisdictions such as ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Excise Tax
file:Lincoln Beer Stamp 1871.JPG, upright=1.2, 1871 U.S. Revenue stamp for 1/6 barrel of beer. Brewers would receive the stamp sheets, cut them into individual stamps, cancel them, and paste them over the Bunghole, bung of the beer barrel so when the barrel was tapped it would destroy the stamp. An excise, or excise tax, is any duty (economics), duty on manufactured goods (economics), goods that is normally levied at the moment of manufacture for internal consumption rather than at sale. It is therefore a fee that must be paid in order to consume certain products. Excises are often associated with customs duties, which are levied on pre-existing goods when they cross a designated border in a specific direction; customs are levied on goods that become taxable items at the ''border'', while excise is levied on goods that came into existence ''inland''. An excise is considered an indirect tax, meaning that the producer or seller who pays the levy to the government is expected to try ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Royalty Payment
A royalty payment is a payment made by one party to another that owns a particular asset, for the right to ongoing use of that asset. Royalties are typically agreed upon as a percentage of gross or net revenues derived from the use of an asset or a fixed price per unit sold of an item of such, but there are also other modes and metrics of compensation.Guidelines for Evaluation of Transfer of Technology Agreements, United Nations, New York, 1979 A royalty interest is the right to collect a stream of future royalty payments. A license agreement defines the terms under which a resource or property are licensed by one party ( party means the periphery behind it) to another, either without restriction or subject to a limitation on term, business or geographic territory, type of product, etc. License agreements can be regulated, particularly where a government is the resource owner, or they can be private contracts that follow a general structure. However, certain types of franchise ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Australia
Australia, officially the Commonwealth of Australia, is a country comprising mainland Australia, the mainland of the Australia (continent), Australian continent, the island of Tasmania and list of islands of Australia, numerous smaller islands. It has a total area of , making it the list of countries and dependencies by area, sixth-largest country in the world and the largest in Oceania. Australia is the world's flattest and driest inhabited continent. It is a megadiverse countries, megadiverse country, and its size gives it a wide variety of landscapes and Climate of Australia, climates including deserts of Australia, deserts in the Outback, interior and forests of Australia, tropical rainforests along the Eastern states of Australia, coast. The ancestors of Aboriginal Australians began arriving from south-east Asia 50,000 to 65,000 years ago, during the Last Glacial Period, last glacial period. By the time of British settlement, Aboriginal Australians spoke 250 distinct l ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
MRRT
The Minerals Resource Rent Tax (MRRT) was a resource rent tax formerly imposed by the government of Australia on profits generated from the mining of non-renewable resources in Australia. It was a replacement for the proposed Resource Super Profit Tax (RSPT). The tax, levied on 30% of the "super profits" from the mining of iron ore and coal in Australia, was introduced on 1 July 2012. A company was to pay the tax when its annual profits reach $75 million, a measure designed so as not to burden small business. The original threshold was to be $50 million until independent MP Andrew Wilkie negotiated an amendment. Around 320 companies would have potentially been affected by the changes. The Coalition, led by Tony Abbott, went to the 2010 and 2013 elections promising to repeal the tax. The Coalition won the 2013 election, and repealed the tax in 2014. A January 2014 poll conducted by UMR Research, however, found that a majority of Australians still think that multinational min ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rain Tax
A stormwater fee is a charge imposed on real estate owners for pollution in stormwater drainage from impervious surface runoff. This system imposes a tax that is proportional to the total impervious area on a particular property, including concrete or asphalt driveways and roofs, that do not allow rain to infiltrate. In other words, the more area covered by impervious surfaces the more stormwater is generated and conveyed to the sewer, so the higher the stormwater fee. Germany Equivalence issues were raised concerning the imposition of sewage fees based on the usage of water supply. In 1985, in order to ensure the legal equity of charging based on the polluter pays principle, the German Federal Administrative Court and the local high court ruled that the sewage system charges should be separately collected as usage fees for rainwater exclusion and as usage fees for sewage exclusion. This ruling became a decisive motive to bring about a switch in the sewage system for rainwater ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Externalities
In economics, an externality is an indirect cost (external cost) or indirect benefit (external benefit) to an uninvolved third party that arises as an effect of another party's (or parties') activity. Externalities can be considered as unpriced components that are involved in either consumer or producer consumption. Air pollution from motor vehicles is one example. The cost of air pollution to society is not paid by either the producers or users of motorized transport. Water pollution from mills and factories are another example. All (water) consumers are made worse off by pollution but are not compensated by the market for this damage. The concept of externality was first developed by Alfred Marshall in the 1890s and achieved broader attention in the works of economist Arthur Pigou in the 1920s. The prototypical example of a negative externality is environmental pollution. Pigou argued that a tax, equal to the marginal damage or marginal external cost, (later called a "Pigou ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Property Tax
A property tax (whose rate is expressed as a percentage or per mille, also called ''millage'') is an ad valorem tax on the value of a property.In the OECD classification scheme, tax on property includes "taxes on immovable property or Wealth tax, net wealth, taxes on the change of ownership of property through Inheritance tax, inheritance or Gift tax, gift and Financial transaction tax, taxes on financial and capital transactions" (see: ), but this article only covers taxes on realty. The tax is levied by the governing authority of the jurisdiction in which the property is located. This can be a national government, a federated state, a county or other Region, geographical region, or a Local government, municipality. Multiple jurisdictions may tax the same property. Often a property tax is levied on real estate. It may be imposed annually or at the time of a real estate transaction, such as in real estate transfer tax. This tax can be contrasted with a rent tax, which is based ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Specific Tax
A per unit tax, or specific tax, is a tax A tax is a mandatory financial charge or levy imposed on an individual or legal entity by a governmental organization to support government spending and public expenditures collectively or to regulate and reduce negative externalities. Tax co ... that is defined as a fixed amount for each unit of a good or service sold, such as cents per kilogram. It is thus proportional to the particular quantity of a product sold, regardless of its price. Excise taxes, for instance, fall into this tax category. By contrast, an ad valorem tax is a charge based on a fixed percentage of the product value. Per unit taxes have administrative advantages when it is easy to measure quantities of the product or service being sold. Effect on supply curve Any tax will raise cost of production hence shift the supply curve to the left. In the case of specific tax, the shift will be purely parallel because the amount of tax is the same at all prices. That am ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mineral Resources
Natural resources are resources that are drawn from nature and used with few modifications. This includes the sources of valued characteristics such as commercial and industrial use, aesthetic value, scientific interest, and cultural value. On Earth, it includes sunlight, atmosphere, water, land, all minerals along with all vegetation, and wildlife. Natural resources are part of humanity's natural heritage or protected in nature reserves. Particular areas (such as the rainforest in Fatu-Hiva) often feature biodiversity and geodiversity in their ecosystems. Natural resources may be classified in different ways. Natural resources are materials and components (something that can be used) found within the environment. Every man-made product is composed of natural resources (at its fundamental level). A natural resource may exist as a separate entity such as freshwater, air, or any living organism such as a fish, or it may be transformed by extractivist industries into an econ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
