|
Social VAT
Social VAT is the earmarking of a defined amount of VAT revenues to finance social security. The shift from taxing labour to taxing consumption in order to finance social security is based on several premises. *reduce non-wage costs in order to improve competitiveness *achieve sustainable revenues for the social security system *share the tax burden of social security systems more equitably The impact of a shift from payroll financing to VAT financing is similar to devaluation as labour costs fall and improve competitiveness. History Several countries have switched social security funding from payroll taxation or social security contributions on salaries and wages towards consumption taxation funding. Examples Denmark In 1987 Denmark introduced a wide-ranging tax reform with the aim of guaranteeing the viability of the social security system while permitting Danish companies to remain competitive. Initially employer payroll tax for unemployment and disability insurance was phased ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Social Security
Welfare, or commonly social welfare, is a type of government support intended to ensure that members of a society can meet basic human needs such as food and shelter. Social security may either be synonymous with welfare, or refer specifically to social insurance programs which provide support only to those who have previously contributed (e.g. most pension systems), as opposed to ''social assistance'' programs which provide support on the basis of need alone (e.g. most disability benefits). The International Labour Organization defines social security as covering support for those in old age, support for the maintenance of children, medical treatment, parental and sick leave, unemployment and disability benefits, and support for sufferers of occupational injury. More broadly, welfare may also encompass efforts to provide a basic level of well-being through free or subsidized ''social services'' such as healthcare, education, infrastructure, vocational training, and publ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Devaluation
In macroeconomics and modern monetary policy, a devaluation is an official lowering of the value of a country's currency within a fixed exchange-rate system, in which a monetary authority formally sets a lower exchange rate of the national currency in relation to a foreign reference currency or currency basket. The opposite of devaluation, a change in the exchange rate making the domestic currency more expensive, is called a ''revaluation''. A monetary authority (e.g., a central bank) maintains a fixed value of its currency by being ready to buy or sell foreign currency with the domestic currency at a stated rate; a devaluation is an indication that the monetary authority will buy and sell foreign currency at a lower rate. However, under a floating exchange rate system (in which exchange rates are determined by market forces acting on the foreign exchange market, and not by government or central bank policy actions), a decrease in a currency's value relative to other major curren ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Arbejdsmarkedets Tillægspension
Arbejdsmarkedets Tillægspension (ATP) is a supplementary (income-related) pension in Denmark, and is Denmark's largest lifelong pension plan. Citizens of Denmark become eligible for ATP payments as soon as they turn 65 years old. Arbejdsmarkedets Tillægspension was amended into law on March 7, 1964. See also *Pension A pension (, from Latin ''pensiō'', "payment") is a fund into which a sum of money is added during an employee's employment years and from which payments are drawn to support the person's retirement from work in the form of periodic payments ... * Economy of Denmark References Economy of Denmark {{Econ-stub ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Martinique
Martinique ( , ; gcf, label=Martinican Creole, Matinik or ; Kalinago: or ) is an island and an overseas department/region and single territorial collectivity of France. An integral part of the French Republic, Martinique is located in the Lesser Antilles of the West Indies in the eastern Caribbean Sea. It has a land area of and a population of 364,508 inhabitants as of January 2019.Populations légales 2019: 972 Martinique INSEE One of the , it is directly north of Saint Lucia, northwest of |
Guadeloupe
Guadeloupe (; ; gcf, label=Antillean Creole, Gwadloup, ) is an archipelago and overseas department and region of France in the Caribbean. It consists of six inhabited islands—Basse-Terre, Grande-Terre, Marie-Galante, La Désirade, and the two inhabited Îles des Saintes—as well as many uninhabited islands and outcroppings. It is south of Antigua and Barbuda and Montserrat, north of the Commonwealth of Dominica. The region's capital city is Basse-Terre, located on the southern west coast of Basse-Terre Island; however, the most populous city is Les Abymes and the main centre of business is neighbouring Pointe-à-Pitre, both located on Grande-Terre Island. It had a population of 384,239 in 2019.Populations légales 2019: 971 Guadeloupe INSEE Like the other overseas departments, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Réunion
Réunion (; french: La Réunion, ; previously ''Île Bourbon''; rcf, label= Reunionese Creole, La Rényon) is an island in the Indian Ocean that is an overseas department and region of France. It is located approximately east of the island of Madagascar and southwest of the island of Mauritius. , it had a population of 868,846. Like the other four overseas departments, Réunion also holds the status of a region of France, and is an integral part of the French Republic. Réunion is an outermost region of the European Union and is part of the eurozone. Réunion and the fellow French overseas department of Mayotte are the only eurozone regions located in the Southern Hemisphere. As in the rest of France, the official language of Réunion is French. In addition, a majority of the region's population speaks Réunion Creole. Toponymy When France took possession of the island in the seventeenth century, it was named Bourbon, after the dynasty that then ruled France. To break ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tax Reform
Tax reform is the process of changing the way taxes are collected or managed by the government and is usually undertaken to improve tax administration or to provide economic or social benefits. Tax reform can include reducing the level of taxation of all people by the government, making the tax system more progressive or less progressive, or simplifying the tax system and making the system more understandable or more accountable. Numerous organizations have been set up to reform tax systems worldwide, often with the intent to reform income taxes or value added taxes into something considered more economically liberal. Other reforms propose tax systems that attempt to deal with externalities. Such reforms are sometimes proposed to be revenue-neutral, for example in revenue neutrality of the FairTax, meaning they ought not result in more tax or less being collected. Georgism claims that various forms of land tax can both deal with externalities and improve productivity. Austral ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Value Added Taxes
A value-added tax (VAT), known in some countries as a goods and services tax (GST), is a type of tax that is assessed incrementally. It is levied on the price of a product or service at each stage of production, distribution, or sale to the end consumer. If the ultimate consumer is a business that collects and pays to the government VAT on its products or services, it can reclaim the tax paid. It is similar to, and is often compared with, a sales tax. VAT is an indirect tax because the person who ultimately bears the burden of the tax is not necessarily the same person as the one who pays the tax to the tax authorities. Not all localities require VAT to be charged, and exports are often exempt. VAT is usually implemented as a destination-based tax, where the tax rate is based on the location of the consumer and applied to the sales price. The terms VAT, GST, and the more general consumption tax are sometimes used interchangeably. VAT raises about a fifth of total tax revenues bo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Withholding Taxes
Tax withholding, also known as tax retention, Pay-as-You-Go, Pay-as-You-Earn, Tax deduction at source or a ''Prélèvement à la source'', is income tax paid to the government by the payer of the income rather than by the recipient of the income. The tax is thus withheld or deducted from the income due to the recipient. In most jurisdictions, tax withholding applies to employment income. Many jurisdictions also require withholding taxes on payments of interest or dividends. In most jurisdictions, there are additional tax withholding obligations if the recipient of the income is resident in a different jurisdiction, and in those circumstances withholding tax sometimes applies to royalties, rent or even the sale of real estate. Governments use tax withholding as a means to combat tax evasion, and sometimes impose additional tax withholding requirements if the recipient has been delinquent in filing tax returns, or in industries where tax evasion is perceived to be common. Typical ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
.svg "Click for more on -> Réunion")
