The Finance Bill 2009
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| Author | : Great Britain: Parliament: House of Lords: Select Committee on Economic Affairs |
| Publisher | : The Stationery Office |
| Total Pages | : 74 |
| Release | : 2009-06-23 |
| Genre | : Business & Economics |
| ISBN | : 9780108444449 |
This report focuses on the Finance Bill's measures on the taxation of foreign profits, real estate investment trusts (REITs) and pensions. In addition, as last year, the Committee considers two issues which cut across these and other topics: the effectiveness of the process of consultation and the likely impact of the proposed measures on the international competitiveness of the United Kingdom. Consultation on foreign profits had been well conducted but the Committee recognises it would have been difficult for the Government to consult on pensions. The likely impact on the UK's competitiveness of the Bill's provision overall is not clear. On the taxation of pensions, the Committee regrets that significant changes were introduced so soon after the redesign of the whole system. There seems little official recognition that this precedent has undermined simplicity, consistency and certainty or that it risks a reduction in pensions savings. The reforms to the taxation of foreign profits represented a move towards a more territorial system of taxing foreign subsidiaries. But the Committee cannot properly assess the measures as they are still being developed. REITs were introduced after careful planning and amidst high hopes. But they have not lived up to expectations, since there are no residential REITs, nor any new ones not converted from property companies. It is difficult to conclude that this is wholly due to economic circumstances and not also to structural defects. The measures in the Bill do not go far enough and officials should take a more flexible and responsive approach.
| Author | : Great Britain. Treasury |
| Publisher | : The Stationery Office |
| Total Pages | : 274 |
| Release | : 2009 |
| Genre | : Business & Economics |
| ISBN | : 9780102959161 |
The Budget sets out the Government's plans for taxation, public spending and economic growth for the coming year. Details announced include: an annual growth rate of 2.5 per cent for 2006-07 with a forecast of 2.75 to 3.25 per cent for 2007-08; an inflation rate of two per cent this year; and public sector borrowing on course for a 16 billion surplus over the economic cycle ending in 2010-11, with net borrowing set at 37 billion for this year and 36 billion next year, falling to 23 billion in the year to 2010-11.
| Author | : Great Britain: Parliament: House of Commons: Treasury Committee |
| Publisher | : The Stationery Office |
| Total Pages | : 144 |
| Release | : 2010 |
| Genre | : Business & Economics |
| ISBN | : 9780215543097 |
This report acknowledges that deciding the right time for fiscal consolidation requires making a fine judgement about the resilience of the recovery. It emphasises that a plan to restore the health of the public finances must deal with the structural deficit. While the Treasury aims to cut the deficit from 9% of GDP to 3.6% of GDP in four years, the expert witnesses who examined it all criticised the document for not providing enough information about how this will be achieved. Future Budgets and PBRs should attempt to quantify the downside risks around the structural deficit forecast. There will be uncertainty in these figures, but they are produced as part of the Spending Review process so there appears to be no argument against their publication. Similarly the Bank of England publishes forecasts showing the possible range of inflation rates and publishing information about debt interest on a similar basis would be useful. The recession appears to have had substantially less impact on the labour market than might have been feared, though concern remains about the level of youth unemployment. Repossessions have been far lower than expected however it is recommended that the Treasury proceeds cautiously over the timing of removal of Government support in this area. We do not want to see a return to the times of easy credit, but the Government needs to remain aware of the risk that lending will not support renewed private sector growth as the public sector retrenches. The purpose of the tax on bank bonuses is to change behaviour so that banks increase their capital, rather than providing large discretionary payments to employees. The next Parliament needs to examine the effectiveness of any regime introduced by the Financial Services Bill, in terms both of its success in altering bank behaviour, and of its effect on the competitiveness of the UK financial sector
| Author | : Carmen M. Reinhart |
| Publisher | : Princeton University Press |
| Total Pages | : 513 |
| Release | : 2011-08-07 |
| Genre | : Business & Economics |
| ISBN | : 0691152640 |
An empirical investigation of financial crises during the last 800 years.
| Author | : Great Britain. Treasury |
| Publisher | : The Stationery Office |
| Total Pages | : 240 |
| Release | : 2010-03-24 |
| Genre | : Business & Economics |
| ISBN | : 9780102964639 |
The Budget sets out the Government's plans for taxation, public spending and economic growth for the coming year. Details announced include: an annual growth rate of 2.5 per cent for 2006-07 with a forecast of 2.75 to 3.25 per cent for 2007-08; an inflation rate of two per cent this year; and public sector borrowing on course for a 16 billion surplus over the economic cycle ending in 2010-11, with net borrowing set at 37 billion for this year and 36 billion next year, falling to 23 billion in the year to 2010-11.
| Author | : Great Britain. Treasury |
| Publisher | : The Stationery Office |
| Total Pages | : 244 |
| Release | : 2008 |
| Genre | : Business & Economics |
| ISBN | : 9780101748421 |
The 2008 Pre-Budget Report presents updated assessments and forecasts of the economy and public finances, and reports on how in the face of major global economic shocks the Government intends to support the economy, businesses and households through these uncertain times while delivering its long-term goals. Measures announced include: temporarily reducing the Value Added Tax (VAT) rate to 15 per cent from1 December 2008 to 31 December 2009; bringing forward £3 billion of capital spending from 2010-11 including introducing a green stimulus supporting low carbon growth and jobs; introducing a new additional higher rate of income tax of 45 per cent for those with incomes above £150,000 from April 2011; increasing national insurance contributions by 0.5 per cent from April 2011; increasing alcohol and tobacco duties; a two pence per litre increase in fuel duty from 1 December). Immediate action to help those individuals and businesses most affected by the economic downturn include: increases in the income tax personal allowance; bringing forward the increase in Child Benefit; increases of the Child Tax Credit and a payment of £60 to all pensioners; help through mortgage rescue and Support for Mortgage Interest schemes for eligible homeowners in difficulty and a commitment from major mortgage lenders not to initiate repossession action within at least three months of an owner-occupier going into arrears; an additional £1.3 billion to support for the unemployed to find a new job; measures to help small and medium-sized enterprises facing credit constraints; a new HMRC Business Payment Support Service to allow businesses in temporary financial difficulty to pay their HMRC tax bills on a timetable they can afford; and more generous tax relief for businesses now making losses and the modification of a number of planned tax reforms, including vehicle excise duty, air passenger duty, and the deferral of the increase in the small companies' rate of corporation tax.
| Author | : India |
| Publisher | : |
| Total Pages | : 1890 |
| Release | : 2011 |
| Genre | : Budget |
| ISBN | : |
Bound set of budget documents (central budget and railway budget), 23 or more numbered issues; most of the the titles are also published separately.
| Author | : Shubham Sinha |
| Publisher | : Indian Law Series |
| Total Pages | : 408 |
| Release | : |
| Genre | : Law |
| ISBN | : 1519756429 |
This is book is a set of BARE ACT of service tax rules as declared by govt. authorities in India and is valid throughout the territories of India. Service tax is a tax levied by Central Government of India on services provided or to be provided excluding services covered under negative list and considering the Place of Provision of Services Rules, 2012 and collected as per Point of Taxation Rules, 2011 from the person liable to pay service tax. Person liable to pay service tax is governed by Service Tax Rules, 1994 he may be service provider or service receiver or any other person made so liable. Few services are presently exempt in public interest via Mega Exemption Notification 25/2012-ST as amended up to date & few services are charged service tax at abated rate as per Notification No. 26/2012-ST as amended up to date. Presently from 1 June 2015, service tax rate has been increased to consolidated rate @ 14% of value of services provided or to be provided. The service tax rate now is consolidated rate as education cess & secondary higher education cess are subsumed with 2% of "Swachh Bharat Cess(0.50%)" has been notified by the Government. Dr. Raja Chelliah Committee on tax reforms recommended the introduction of service tax. Service tax had been first levied at a rate of five per cent flat from 1 July 1994 till 13 May 2003, at the rate of eight percent flat w.e.f 1 plus an education cess of 2% thereon w.e.f 10 September 2004 on the services provided by service providers. The rate of service tax was enhanced to 12% by Finance Act, 2006 w.e.f 18.4.2006. Finance Act, 2007 has imposed a new secondary and higher education cess of one percent on the service tax w.e.f 11.5.2007, increasing the total education cess to three percent and a total levy of 12.36 percent. The revenue from the service tax to the Government of India have shown a steady rise since its inception in 1994. The tax collections have grown substantially since 1994-95 i.e. from 410 crore (US$61 million) in 1994-95 to 132518 crore (US$20 billion) in 2012-13. The total number of Taxable services also increased from 3 in 1994 to 119 in 2012. However, from 1 July 2012 the concept of taxation on services was changed from a 'Selected service approach' to a 'Negative List regime'. This changed the taxation system of services from tax on some Selected services to tax being levied on the every service other than services mentioned in Negative list.
| Author | : Ues Enmez Emre Paterson John Gordon Greg |
| Publisher | : Edinburgh University Press |
| Total Pages | : 705 |
| Release | : 2014-05-14 |
| Genre | : Law |
| ISBN | : 0748697837 |
This highly successful book brings together academic and practising lawyers to consider the key regulatory and contractual dimensions of the mature hydrocarbon province. Now in its second edition, the text has been fully updated. New chapters look at Energy Security, Law and Technology in the Oil Field and Acquisitions and Disposals.
| Author | : Tony Prosser |
| Publisher | : |
| Total Pages | : 296 |
| Release | : 2014 |
| Genre | : Law |
| ISBN | : 0199644535 |
There has been little analysis of the constitutional framework for management of the UK economy, either in constitutional law or regulatory studies. This is in contrast to many other countries where the concept of an 'economic constitution' is well established, as it is in the law of the European Union. Given the extensive role of the state in attempting to resolve recent financial crises in the UK and elsewhere in Europe, it is particularly important to develop such an analysis. This book sets out different meanings of an economic constitution, and applies them to key areas of economic management, including taxation and public borrowing, the management of public spending, (including the Spending Review), monetary policy, financial services regulation, industrial policy (including state shareholdings) and government contracting. It analyses the key institutions involved such as the Treasury and the Bank of England, also including a number of less well-known bodies such as the Office for Budget Responsibility. There is also coverage of the international context in which these institutions operate especially the European Union and the World Trade Organisation. It thus provides an account of the public law applying to economic management in the UK. This book also adopts a critical approach, assessing the degree to which there is coherence in the arrangements for economic management, the degree to which economic policy-making is constrained by constitutional norms, and the degree to which economic management is subject to deliberation and accountability through Parliament, the courts and other institutions.
