asterisk2a + vat   7

Amazon and eBay sellers' VAT fraud rife despite crackdown | Business | The Guardian
The market for many goods is now dominated by overseas sellers. On eBay, for example, 40% of UK sales of Android phones are to firms registered in China. Meanwhile, Chinese-based companies account for more than 60% of sales of Christmas tree fairy lights on eBay.co.uk. There is no suggestion that Amazon or eBay have themselves evaded tax, but critics claim they could make some basic changes – such as requiring sellers to display valid VAT numbers – that would help to stop their websites being used by many overseas companies as a platform for industrial-scale fraud. //&! EU taking action too - https://www.theguardian.com/business/2016/nov/30/brussels-to-crack-down-on-vat-by-firms-shipping-goods-to-eu - Many import firms are illegally underdeclaring the value of goods as they arrive in the EU, knowing that customs officers are overwhelmed and unable to make proper checks.
VAT  tax  evasion  avoidance 
november 2016 by asterisk2a
Global Capitalism: September 2015 Monthly Update - YouTube
Private Education (Charter Schools) that get public money, without the public being involved in decision-making how to spend that public money ... were outlawed/illegal, by Seattle Judges 6-2. //&! Tax exception of universities. Yale (4th richest uni of USA with 20bn in endowments) is being subsidized by people of the 7th poorest state. no property tax (largest land owner & employer in New Haven (Connecticut)). Public Services (Fire, Police, Hospitals) & Infrastructure. //&! min 41 Greg Mankiw: carbon tax would discriminate (burden too much) the middle class & poor with no wage growth last 30 yrs in disposable income vs corporates, well off, Super Rich, 1%. Rebuttal: tax more progressively those who can afford it. The crux of a carbon tax & tobin tax, setting it nationally, corporate lobby that it "will" be anti-competitive. Destroy Jobs. // 47:35 Science & Money. 1:09:20 Hegemony 1:22:20 public transport, US dogma; THE CAR! Committed 2 Private Free Enterprise. << Ideology. LA traffic
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october 2015 by asterisk2a
View: Consumption Tax Would Ease U.S. Deficit - Bloomberg
opponents of the VAT point out one big flaw: The tax falls more heavily on the poor, who mostly spend rather than save their income. Many countries try to compensate for this regressive trait by exempting basic food items and other necessities -- an imperfect fix that complicates the system, distorts the economy and doesn’t adequately help the poor.An income-tax credit, in which all taxpayers receive a cash payment to offset VAT paid on a fixed, minimal amount of purchases, would work better. A study by the Urban Institute and the Brookings Institution found that such a credit could turn a VAT into a progressive levy, with the bottom fifth of earners gaining 1.7 percent in after-tax income (see chart). It would also provide an added incentive for people to come out of the shadows and into the income-tax system.
VAT  economics 
august 2011 by asterisk2a
Truckers hit France for cheap fuel | City A.M.
BRITISH hauliers are filling up their vehicles in France in a bid to avoid soaring diesel costs at home, losing the UK an estimated £1.2bn in tax every year, petrol retailers claimed yesterday.Truck manufacturers are even building vehicles with bigger tanks so that drivers can fill-up with as much foreign, cheaper diesel as possible.The diesel price has steadily risen and rather than just trucks it is now used in high performance cars thanks to improved technology.With diesel costing up to £1.47 a litre in the UK, the companies are getting their fuel at an average of 20 per cent cheaper in places like Calais, according to the RMI Independent Petrol Retailers Association. Chairman Brian Madderson said: “This is another example of a government own goal. Its fuel policies are directly contributing to a reduced tax opportunity for the treasury.The RMI estimates that the figures translates to £1.2bn lost in VAT for the treasury if all items bought in petrol stations are taken into account.
economics  VAT  2011  UK  markets  borders  unintended  consequences  liberal  tax  taxation  taxevasion 
february 2011 by asterisk2a
Morgan Stanley fears UK sovereign debt crisis in 2010 - Telegraph
While the report – “Tougher Times in 2010” – is not linked to the Dubai debacle, it is a reminder that countries merely bought time during the crisis by resorting to fiscal stimulus and shunting private losses onto public books. The rescues – though necessary – have not resolved the underlying debt problem. They have storied up a second set of difficulties by degrading sovereign debt across much of the world.

The UK failed to put aside money in the fat years to offset this time-honoured fiscal cycle. It ran a budget deficit of 3pc of GPD at the peak of the boom when prudent countries such as Finland and even Spain were running a surplus of over 2pc.

“We need to raise VAT to 20pc and make seriously dramatic cuts in services that go beyond anything that Alistair Darling or David Cameron are talking about. Nobody seems to have the courage to face up to this,” said Mr Buik.
sovereign  debt  crisis  G10  G20  europe  greece  iceland  dubai  uk  2009  2010  MorganStanley  report  VAT  taxes  rating  ratingagencies  interestrate  double-dip  recession  recovery  GDP 
december 2009 by asterisk2a
Why Niall Ferguson is still bearish - The Globe and Mail
The stock market rally has been largely due to near-zero interest rates and a weaker dollar. In foreign currency terms there's been no rally.

Excessively loose monetary policy causes asset bubbles and excessively loose monetary policy is what we have now. It's a little early to start pointing figures and calling things ‘bubbles,' however. Many prices are simply returning to their trend growth line after the collapse that occurred a year ago.
NiallFerguson  VAT  USA  2010  2011  2012  debt  economy  outlook  forecast  ZIRP  bubble  dollar  DOW  rally 
november 2009 by asterisk2a

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