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1 edition of taxation implicit in two-tiered exchange rate systems. found in the catalog.

taxation implicit in two-tiered exchange rate systems.

taxation implicit in two-tiered exchange rate systems.

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Published by International Monetary Fund in Washington, D.C .
Written in English


Edition Notes

Includes bibliographical references.

SeriesIMF working paper -- WP/96/120
ContributionsInternational Monetary Fund.
The Physical Object
Paginationiii, 14 p. ;
Number of Pages14
ID Numbers
Open LibraryOL16777126M

Corporations and unincorporated businesses in Hong Kong can pay lower profit tax rates under the two-tier tax rate for the first $2 million of assessable profits. Profit Tax Rates All Hong Kong taxpayers are subject to the same business tax rate for either a corporation or unincorporated business irrespective of their residential status. When a tax decrease occurs, consumers will spend part of the money and save part of it. Therefore, the actual change in national income as a result of a change in tax policy is equal to [(+ or -) change in taxes * - MPC] / (1 - MPC). The resulting number is called the tax multiplier. There is also a multiplier for government spending.

  Implicit Cost: An implicit cost is any cost that has already occurred but is not necessarily shown or reported as a separate expense. It represents an . In Hong Kong, for Single-Tier Tax System: corporations are taxed at % on assessable profits and unincorporated businesses are taxed at 15%. The Two-Tier Profits Tax Rates Regime effective from Year of Assessment / With effect from 1 April , a two-tiered profits tax rates regime applies.

Flat Corporate Tax Rate: The Two-Tier Profits Tax Rates Regime effective from Year of Assessment / In Hong Kong, corporations have two options for Profit Tax Rates: Single-Tier Corporate Tax System. The Single-Tier Corporate Tax System-corporations are taxed at % on assessable profits and unincorporated businesses are taxed at 15%. The paper by Joel Slemrod investigates how the U.S. tax system, in conjunction with the tax system of a capital exporting country, affects the flow of foreign direct investment into the United States. First, using aggregate data, the paper corroborates earlier work suggesting that the effective U.S. tax rate does influence the amount of FDI.


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Taxation implicit in two-tiered exchange rate systems Download PDF EPUB FB2

Additional Physical Format: Online version: Huizinga, Harry. Taxation implicit in two-tiered exchange rate systems. [Washington, D.C.]: International Monetary Fund. Huizinga, H.P., "The Taxation Implicit in Two-Tiered Exchange Rate Systems," Discussion PaperTilburg University, Center for Economic Research.

Handle: RePEc:tiu:tiucen:e01faec5e-b9b5-ad1cbf85eCited by: 2. A two-tiered exchange rate system can be interpreted as a set of separate taxes on money and other financial assets. If the official two-tiered exchange rate system coexists with a black market for foreign exchange, then there is implicit taxation of the international goods trade as well.

This paper presents some evidence on the tax rates and tax revenues implicit in the exchange rate systems Cited by: 6. Abstract. A two-tiered exchange rate system can be interpreted as a set of separate taxes on money and other financial the official two-tiered exchange rate system coexists with a black market for foreign exchange, then there is an implicit taxation of international goods trade as paper presents some evidence on the tax rates and tax revenues implicit in the exchange rate Author: H.P.

Huizinga. A two-tiered exchange rate system can be interpreted as a set of separate taxes on money and other financial assets. If the official two-tiered exchange rate system coexists with a black market for foreign exchange, then there is an implicit taxation of international goods trade as well.

If the official two-tiered exchange rate system coexists with a black market for foreign exchange, then there is an implicit taxation of international goods trade as well. Harry Huizinga, "The Taxation Implicit in Two-Tiered Exchange Rate Systems," IMF Working Papers 96/, International Monetary Fund.

Huizinga, H.P., "The Taxation Implicit in Two-Tiered Exchange Rate Systems," Discussion PaperTilburg University, Center for Economic Research. Gidlow, Rate –As from year of assessment (YOA) /19 (i.e. as from 1 April ), a two-tiered profits tax is levied: % for corporations (% for unincorporated businesses) on the first HKD 2 million of assessable profits, and % for corporations (15% for unincorporated businesses) on the remainder of assessable profits.

The 'Structures of the taxations systems in the EU' published by Taxation and Customs Union Directorate-General of the European Commission and Eurostat (European Commission ) presents backward-looking indicators for the effective average tax burden levied on different economic functions, so called implicit tax rates.

The implicit. Taxation, imposition of compulsory levies on individuals or entities by governments. Taxes are levied in almost every country of the world, primarily to raise revenue for government expenditures, although they serve other purposes as well.

Learn more about taxation in this article. The Taxation Implicit in Two-Tiered Exchange Rate Systems. A two-tiered exchange rate system can be interpreted as a set of separate taxes on money and The Bahamas: Selected Issues and Statistical Appendix.

In recent years, the IMF has released a growing number of reports and other documents covering. The Taxation Implicit in Two-Tiered Exchange Rate Systems Discussion Paper, Tilburg University, Center for Economic Research View citations (5) The incidence of interest withholding taxes: Evidence from the LDC loan market Other publications TiSEM, Tilburg University, School of Economics and Management View citations (9).

Tax systems have varied considerably across jurisdictions and time. In most modern systems, taxation occurs on both physical assets, such as. The Taxation Implicit in Two-Tiered Exchange Rate Systems. A two-tiered exchange rate system can be interpreted as a set of separate taxes on money and Dominican Republic: Recent Economic Developments.

This paper reviews economic developments. Tax Rates paid. Realization-based taxation would cause the effective tax rate to fall short of Expected inflation differentials be- the statutory rate on assets denominated tween countries are directly associated in currencies expected to appreciate with expected exchange rate.

Taxation - Taxation - Principles of taxation: The 18th-century economist and philosopher Adam Smith attempted to systematize the rules that should govern a rational system of taxation. In The Wealth of Nations (Book V, chapter 2) he set down four general canons: Although they need to be reinterpreted from time to time, these principles retain remarkable relevance.

Optimal Tax Reduction by Depreciation: A Stochastic Model M. Berg, Anja De Waegenaere and J.L. Wielhouwer Characterizing properties of approximate solutions for optimization problems Henk Norde, F. Patrone and S.H. Tijs The Taxation Implicit in Two-Tiered Exchange Rate Systems Harry Huizinga.

For many of the working poor, the implicit marginal tax rate is greater than percent. The long-run consequence of undermining the positive incentive to work is, of course, the creation of an underclass acclimated to not working; the supplement of cash and noncash benefits with income from crime and the underground economy; and the government resorting to negative incentives such as.

Types of Exchange Rate Systems. oreover, exchange rate system can be classified into four categories: Fixed, Freely loating, managed float, and Pegged. Fixed Exchange Rate System. In this system either the exchange rate is constant or can fluctuate in very narrow limits. Free-Floating Systems.

In a free-floating exchange rate system System in which governments and central banks do not participate in the market for foreign exchange., governments and central banks do not participate in the market for foreign relationship between governments and central banks on the one hand and currency markets on the other is much the same as the typical.

Exchange Rate Systems in Selected Emerging Markets (): The Brazilian real – The crawling peg was replaced by a floating exchange rate in The Hong Kong dollar – It is on a currency board.

The Indonesian rupiah – The managed float was replaced by a floating exchange rate in Tax depreciation is the depreciation that can be listed as an expense on a tax return for a given reporting period under the applicable tax laws.

It is used to reduce the amount of taxable income reported by a business. Depreciation is the gradual charging to expense of a fixed asset's cost over its useful the United States, you can only depreciate an asset if the situation meets all.We can distinguish between two types of cost: explicit and implicit.

Explicit costs are out-of-pocket costs, that is, actual payments. Wages that a firm pays its employees or rent that a firm pays for its office are explicit costs. Implicit costs are more subtle, but just as important.

They represent the opportunity cost of using resources that.