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Resource Rent Tax
A resource rent tax is a tax on the Resource rent, rents gained on the exploitation of a resource. It can cover both renewable and non-renewable resources. It is classically understood to be a tax on the surplus value generated by Exploitation of natural resources, resource exploitation beyond the necessary costs of production (which includes rewards to capital). An investor enjoys relief from taxation until a certain rate of return has been achieved, at which point profits are shared with the host government. Resource rent taxes are particularly prevalent in mining and petroleum industries. Australia's Minerals Resource Rent Tax covers rents in the mining industry. Norway introduced a resource rent tax on aquaculture (''i.e.'', Aquaculture of salmonids, salmon and trout farming) in 2023, and resource rent tax on onshore Wind energy in Norway, wind energy effective January 1, 2024. In Iceland, a resource rent tax has been placed on fishing industry profits. In Switzerland, there is ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Resource Rent
In economics, rent is a surplus value after all costs and normal returns have been accounted for, i.e. the difference between the price at which an output from a resource can be sold and its respective extraction and production costs, including normal return. This concept is usually termed economic rent but when referring to rent in natural resources such as coastal space or minerals, it is commonly called resource rent. It can also be conceptualised as abnormal or supernormal profit. In practice, identifying and measuring (or collecting) resource rent is not straightforward. At any point in time, rent depends on the availability of information, market conditions, technology and the system of property rights used to govern access to and management of resources. Categories of rent Rent can be categorised into different kinds depending on how it is created. In general one can distinguish three different kinds of rent, which can also occur together: differential, scarcity, and entr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Surplus Value
In Marxian economics, surplus value is the difference between the amount raised through a sale of a product and the amount it cost to manufacture it: i.e. the amount raised through sale of the product minus the cost of the materials, plant and labour power. The concept originated in Ricardian socialism, with the term "surplus value" itself being coined by William Thompson (philosopher), William Thompson in 1824; however, it was not consistently distinguished from the related concepts of surplus labor and surplus product. The concept was subsequently developed and popularized by Karl Marx. Marx's formulation is the standard sense and the primary basis for further developments, though how much of Marx's concept is original and distinct from the Ricardian concept is disputed (see ). Marx's term is the German word "''Mehrwert''", which simply means value added (sales revenue minus the cost of materials used up), and is cognate to English "more worth". It is a major concept in Karl M ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Exploitation Of Natural Resources
The exploitation of natural resources describes using natural resources, often non-renewable or limited, for economic growth or development. Environmental degradation, human insecurity, and social conflict frequently accompany natural resource exploitation. The impacts of the depletion of natural resources include the decline of economic growth in local areas; however, the abundance of natural resources does not always correlate with a country's material prosperity. Many resource-rich countries, especially in the Global South, face distributional conflicts, where local bureaucracies mismanage or disagree on how resources should be used. Foreign industries also contribute to resource exploitation, where raw materials are outsourced from developing countries, with the local communities receiving little profit from the exchange. This is often accompanied by negative effects of economic growth around the affected areas such as inequality and pollution The exploitation of natural res ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Minerals Resource Rent Tax
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] |
Aquaculture
Aquaculture (less commonly spelled aquiculture), also known as aquafarming, is the controlled cultivation ("farming") of aquatic organisms such as fish, crustaceans, mollusks, algae and other organisms of value such as aquatic plants (e.g. Nelumbo nucifera, lotus). Aquaculture involves cultivating freshwater, brackish water, and saltwater populations under controlled or semi-natural conditions and can be contrasted with commercial fishing, which is the harvesting of wild fish. Aquaculture is also a practice used for restoring and rehabilitating marine and freshwater ecosystems. Mariculture, commonly known as marine farming, is aquaculture in seawater habitats and lagoons, as opposed to freshwater aquaculture. Pisciculture is a type of aquaculture that consists of fish farming to obtain Fish as food, fish products as food. Aquaculture can also be defined as the breeding, growing, and harvesting of fish and other aquatic plants, also known as farming in water. It is an environme ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Aquaculture Of Salmonids
The aquaculture of salmonids is the farming and harvesting of salmonid fish under controlled conditions for both commercial and recreational purposes. Salmonids (particularly salmon and rainbow trout), along with carp and tilapia, are the three most important fish groups in aquaculture. The most commonly commercially farmed salmonid is the Atlantic salmon (''Salmo salar''). In the United States, Chinook salmon and rainbow trout are the most commonly farmed salmonids for recreational and subsistence fishing through the National Fish Hatchery System. In Europe, brown trout are the most commonly reared fish for recreational restocking. Commonly farmed non-salmonid fish groups include tilapia, catfish, black sea bass and bream. In 2007, the aquaculture of salmonids was worth USD $10.7 billion globally. Salmonid aquaculture production grew over ten-fold during the 25 years from 1982 to 2007. In 2012, the leading producers of salmonids were Norway, Chile, Scotland and Canada. Much ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Wind Energy In Norway
Norway is a heavy producer of renewable energy because of hydropower. Over 99% of the electricity production in mainland Norway is from 31 GW hydropower plants (86 TWh reservoir capacity, storing water from summer to winter). The average hydropower is 133 TWh/year (135.3 TWh in 2007). There is also a large potential in wind power, offshore wind powerOffshore wind resources (in Norwegian) ''NVE'', 12 February 2009. Retrieved: 18 September 2010. and , as well as production of from wood. Norway has limited resources in |
DLA Piper
DLA Piper is a law firm with offices in over 40 countries across the Americas, Asia Pacific, Europe, Africa, and the Middle East. It was founded in 2005 through the merger between three law firms: San Diego–based ''Gray Cary Ware & Freidenrich LLP'', Baltimore-based ''Piper Rudnick LLP'' and United Kingdom–based ''DLA LLP''. DLA Piper is now composed of multiple partnerships operating under a shared global network in an organizational structure known as a Swiss Verein. History Origins DLA Piper's origins can be traced back to four law firms: Dibb Lupton Broomhead, Alsop Stevens, Piper & Marbury, and Rudnick & Wolfe. Dibb Lupton Broomhead was a UK law firm that was formed in 1988 after the merger of Dibb Lupton and Broomhead & Neals. In 1996, the firm merged with the Liverpool-based law firm, Alsop Wilkinson, and became Dibb Lupton Alsop (DLA). Meanwhile, in the United States, Piper & Marbury was founded in Baltimore, Maryland, and merged with Chicago-based Rudnick & Wolfe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Energy In Switzerland
Energy () is the quantitative property that is transferred to a body or to a physical system, recognizable in the performance of work and in the form of heat and light. Energy is a conserved quantity—the law of conservation of energy states that energy can be converted in form, but not created or destroyed. The unit of measurement for energy in the International System of Units (SI) is the joule (J). Forms of energy include the kinetic energy of a moving object, the potential energy stored by an object (for instance due to its position in a field), the elastic energy stored in a solid object, chemical energy associated with chemical reactions, the radiant energy carried by electromagnetic radiation, the internal energy contained within a thermodynamic system, and rest energy associated with an object's rest mass. These are not mutually exclusive. All living organisms constantly take in and release energy. The Earth's climate and ecosystems processes are driven primaril ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Georgism
Georgism, in modern times also called Geoism, and known historically as the single tax movement, is an economic ideology holding that people should own the value that they produce themselves, while the economic rent derived from land—including from all natural resources, the commons, and urban locations—should belong equally to all members of society. Developed from the writings of American economist and social reformer Henry George, the Georgist paradigm seeks solutions to social and ecological problems based on principles of land rights and public finance that attempt to integrate economic efficiency with social justice. Georgism is concerned with the distribution of economic rent caused by land ownership, natural monopolies, pollution rights, and control of the commons, including title of ownership for natural resources and other contrived Privilege (legal ethics), privileges (e.g., intellectual property). Any natural resource that is inherently limited in Supply (econ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Land Value Tax
A land value tax (LVT) is a levy on the value of land (economics), land without regard to buildings, personal property and other land improvement, improvements upon it. Some economists favor LVT, arguing it does not cause economic efficiency, economic inefficiency, and helps reduce economic inequality. A land value tax is a progressive tax, in that the tax burden falls on land owners, because land ownership is correlated with wealth and income. The land value tax has been referred to as "the perfect tax" and the economic efficiency of a land value tax has been accepted since the eighteenth century. Economists since Adam Smith and David Ricardo have advocated this tax because it does not hurt economic activity, and encourages development without subsidies. LVT is associated with Henry George, whose ideology became known as Georgism. George argued that taxing the land value is the most logical source of public revenue because the supply of land is fixed and because public infrastru ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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] |
