Fiscal policy is an incredibly important tool for governments across the world, with many countries facing dilemmas in crafting fiscal policies to meet changing demographic needs, greater demands for social welfare and sudden spending due to shocks such as terrorism. This important book looks at fiscal policy in the Asian Pacific economies and with a broad array of contributors will be a useful tool to students, researchers and professionals working in international economics and finance.

This book examines the interpretation of the risk-based approach (RBA) and its application across the banking industry. It explores the ways conflicting risk interpretation and deconstruction of money laundering risk have unintended consequences across the banking industry. Furthermore, it offers a theoretical framework that can be adopted and implemented by risk practitioners to address money laundering (ML) risks. The interpretation and application of the RBA influences the way money laundering risk is perceived, presented, and managed, often resulting in misalignment among stakeholders. Moreover, AML practitioners interpret money laundering (ML) risk as an entity that can be contained, largely in ignorance of the fact that ML risk is self-referential. The book therefore addresses complex inter-system feedback phenomena that lead to de-risking and re-risking, and offers a new ML risk communication framework on this basis. It will be of value to researchers and also to stakeholders within financial institutions, financial intelligence units and regulators in the fight against money laundering.

The need for evaluation of public sector research and development activity is critical in today's political environment to assist policymakers with resource allocation. Methodology for evaluating public sector research and development activity is described and illustrated by the author using in-depth case studies drawn from the research programs at the National Institute of Standards and Technology. These cases range from newly formed federal laboratory research initiatives to well-established research programs. Managerial and evaluative guidelines are enunciated.

The United States has supported research and development activity on both the applied and basic research levels for most of its history. The importance of public sector research has often been discussed but its effectiveness has not been adequately reviewed. The need for evaluation of public sector research and development activity is critical in today's political environment to assist policymakers with resource allocation. Methodology for evaluating public sector research and development activity is described and illustrated by the author using in-depth case studies drawn from the research programs at the National Institute of Standards and Technology. These cases range from newly formed federal laboratory research initiatives to well-established research programs. Managerial and evaluative guidelines are enunciated.

This work should be of interest to scholars who deal with economics in general, public policy, science policy, and public administration. In addition, practitioners in public administration and managers of public sector research laboratories on federal and state levels should find the information useful. Those who depend on research and development done with public sector money or who use it to supplement their research programs will also be interested.

First published in 1978, The Structure and Reform of Direct Taxation presents the full findings and recommendations of the 'Meade' committee set up by The Institute for Fiscal Studies. It represents the most important contemporary examination of the structure of UK taxation and direct taxation systems in general. The results of two years' intensive research and discussion by this independent committee are presented as a report under the joint authorship of an outstanding team of tax experts. The committee brought together professional practitioners-lawyers, accountants and taxation administrators-and academic specialists in fiscal studies, and here provides a unique review of direct taxation which is comprehensive, singularly original and full of good sense. The book begins with a return to first principles, restates the objectives of a good tax system and analyses existing structures. It goes on to examine the feasibility of basic reforms which would allow the system to become more straightforward in operation and which would base taxation on what individuals take out of the economy rather than on what they put into it.

The Fiscal Impact Handbook is a unique manual detailing practical methods for determining the full range of revenues and costs associated with residential and nonresidential growth. Planners, economists, businessmen, administrators, financial officers, assessors, community groups, private organizations, and those interested in the fiscal consequences of growth and non-growth will find "The Fiscal Impact Handbook" indispensable. Fiscal impact methods are presented in a clear, step-by-step format and are capable of being carried out by the practicing planner with minimal procedural problems. The manual is designed as a basic tool to be used for projections of direct, current public (and private) costs and revenues resulting from population or employment change to the local jurisdiction in which change is taking place. Standardized methods are presented with attention paid to the underlying assumptions, limitations, and applicability of these methods. Necessary factors affecting the planning and legal framework and documentation of key data input are covered for proper utilization of fiscal impact methods.

Detailed examples are given to the six flexible methods, presented with suggestions on how they can be modified by the user to meet requirements. In addition, current computer models of analysis are evaluated for operational needs and benefits. Included also is a comprehensive bibliography of the cost-revenue field and an index for quick, easy reference. This is an invaluable work for urban analysts, planners, and developers written by two of the top minds in the field of urban policy.

This insightful book brings together both academics and researchers from a variety of international organizations and aid agencies to explore the complexities of public private partnerships (PPPs) as a resurgent, hybrid mode of educational governance that operates across scales, from the community to the global. The contributors expertly study the different types of partnership arrangements and thoroughly critique the value of PPPs. Some chapters explore how PPPs, as a policy idea, have been constructed in transnational agendas for educational development and circulated globally, while other chapters explore the role and implications of PPPs in developing countries, providing arguments for and against an expanding reliance on PPPs in national educational systems. The theoretical framing of the book draws upon leading theories of international relations to develop a unique perspective on the global governance of education. It will prove insightful for both scholars and policy makers in public policy and education. Contributors: F. Barrera-Osorio, Z. Bhanji, A. Draxler, S. Fennell, M. Ginsburg, J. Guaqueta, J. Harma, A.V. Jaimovich, A.A. Marphatia, F. Menashy, K. Mundy, S.-A. Oh, H.A. Patrinos, S.L. Robertson, M. Ron-Balsera, P. Rose, P. Srivastava, J. van Fleet, A. Verger

Advances in Taxation publishes relevant, quality manuscripts from around the world on any aspect of federal, state, local, or international taxation including tax compliance, tax planning, tax policy issues, and current issues in tax.

Originally published in 1991, user charges and earmarked taxes are methods by which people pay directly for the services they recieve from government. As such they are frequently supported by those who oppose increased taxation, who argue that they are more like market transactions than traditional forms of taxation. This book explores the cogency of these arguments in the light of public choice analyses of political processes.

The 22 papers in this volume illustrate the itinerary of Henry Tulkens on the occasion of his retirement from teaching. The volume presents contemporary analysis of Tulkens classic papers on public sector economics. The collection is structured in four parts: I. Decentralized resource allocation processes for public and private goods - II. Environment, public goods and externalities - III. Efficiency analysis - IV. Fiscal competition and optimality.

This book sheds new light on the critical importance of the Saudi Arabian Monetary Agency (SAMA), a remarkably successful central bank that is a model for developing oil exporters worldwide. As a "swing producer", Saudi Arabia has traditionally stepped in to make up for oil supply shortfalls in other OPEC countries, or to scale back their own production when overabundance might lead to a price crash. Since 2014, Saudi Arabia has changed its policy in response to the rise of American shale oil, in search of a long-term strategy that will, once again, help balance supply and demand at a steady price. In its informal dual role of central bank and sovereign wealth fund, SAMA must navigate the paradoxes faced by monoline oil producing countries: the need for diversification vs. dependence on oil-based revenue; the loss of foreign exchange reserves that follows oil-financed government spending; the unreliability of revenue from oil; the challenges of using a Western model for supervising Shariah-compliant banks; and the need to have a balancing mix of oil and financial assets. As SAMA (now the Saudi Arabian Monetary Authority) reassesses its role in 2017, this history and guide to current policy issues will prove invaluable for policymakers in oil producing economies looking to apply lessons from the past as they plan for the future.

Fiscal relations between states and cities in early modern Europe is a major concern for economic and financial historians. This collection of eleven essays is based on new research using documentary evidence from local and national archives from across Europe.

Praise for "Business Valuation and Federal Taxes Procedure, Law, and Perspective" Second Edition

"The Honorable David Laro and Dr. Shannon Pratt present a comprehensive primer on federal tax valuation controversies that will benefit both tax practitioners (attorneys and CPAs) and valuation practitioners. . . . It serves as a valued reference source and an introductory text for legal and valuation training."
--Roger J. Grabowski, Duff & Phelps Corp. from the Foreword

" I]t is refreshing to see these two close observers of valuation issues collaborate on this intriguing volume. What the reader gets is something like a mural--depicting the life of a business appraisal from conception to preparation to the occasional ultimate use by a trier of fact."
--Ronald D. Aucutt, Esq.McGuireWoods LLP, from the Foreword

"This offering from Judge David Laro and Dr. Shannon Pratt fills in some persistent gaps in the business valuation literature, as well as a surprisingly fresh treatment of perennial themes."
--John A. Bogdanski, Professor of LawLewis & Clark Law School, from the Foreword

Straightforward guidance and perspective on business valuation from two of the nation's top authorities

Written by Senior Judge David Laro and Shannon Pratt, both leading experts on the subject, "Business Valuation and Federal Taxes," Second Edition provides a comprehensive overview of business valuation procedures.

The new edition offers:

Insightful perspectives of personal versus enterprise goodwill

New materials on transfer pricing and customs valuations and how recent markets have affected both the income and market approaches

Timely coverage of FAS 157 and its many changes to penalties and sanctions affecting both taxpayers and appraisers

Exploration of new court cases

Presenting knowledge and guidance to those who perform valuations as well as those who are affected by them, "Business Valuation and Federal Taxes," Second Edition is the essential guide to federal taxes and valuation, and specifically valuations relating to business interests.

This is a timely, important book for fiscal policy-makers and budget practitioners. It assesses why some advanced democracies were prepared for the global financial crisis and others were not, and how some countries responded in ways that exacerbated fiscal instability. Its dozen country cases offer highly relevant lessons for mitigating cyclical disturbances that frequently beset national budgets and for managing public finances during turbulent times. The key takeaway message is that government capacity and budget policies matter and should dispel the notion that all countries are helpless when crisis strikes.' - Allen Schick, University of Maryland, USThe global financial crisis of 2007-09 constituted the biggest shock to the economies of the OECD nations since the Second World War, testing budgetary systems and causing most of their governments to move into intense crisis mode. Policy responses by governments and international authorities included massive interventions to stabilize markets and economies, and significant adjustments to fiscal policy regimes. How governments reacted to the crisis, which was manifested differently in each jurisdiction, had significant political implications for sitting governments and led to reforms of fiscal policy and budgetary regimes, which have since continued to wrestle with slow economic growth and strained public finances. This singular shock provides the editors and authors of this book with an intriguing opportunity to examine how different OECD budgetary systems performed. The contributions frame and assess how governments responded to the challenge and how their budget systems evolved in the aftermath, with a focus on strategy, decision-making and balancing competing demands. Chapters cover the EU, North America and Asia, including comparison between countries that fared well, those who were moderately affected and those countries massively affected by the global financial crisis. This timely book will appeal to students and academics seeking an international understanding and analysis of the effects and consequences of the global financial crisis. Contributors: M.G. Arghyrou, R. Boyle, S. Davidsen, T. Degen, D.M. Fantone, D.A. Good, M. Horie, L. Jensen, E. A. Lindquist, M. Mulreany, P.T. Pereira, P.L. Posner, J. de Vries, J. Wanna, L. Wemans, E. Zapico-Goni

This book expands on issues like fiscal sustainability, state enterprises and the variety of subsidies, with a multi-country focus. Drawing examples from numerous countries, it presents issues in contemporary finance and especially fiscal policy that can benefit researchers and civil servants from both developed, as well as developing worlds and emerging market economies.

Written in a simple and accessible manner, this book will be of interest to civil servants and practitioners. It also serves as a reference source for students and academics, and can be used as a text book for advanced courses on public finance.

This book examines questions of change and inertia in the context of the longstanding grievances over excessive taxation in rural China. How can some changes be sustained, whilst others cannot? How can a longstanding administrative practice be changed or even terminated, especially when previous attempts at change have failed? Using extensive interview data with local and central bureaucrats, Li's findings highlight the role of parallel developments and agency in the change process, as well as the prevalence of contingency and uncertainty. It also elegantly blends the narrative of the rural tax and administrative reforms with theoretical discussions to deepen our understanding of policy process and institutional change in 21st century China. Despite the authoritarian political system, the Chinese state-in-action which emerges from this book sees actions stemming from both the central and local levels, mediated by strategic design as well as contingency. This book will be of interest to students and scholars of Chinese Studies, political science and policy and development studies.

This authoritative research review discusses the most influential papers relating to the economics of transfer pricing. The piece notably covers the topic of transfer pricing in light of divisionalization, government regulations, bargaining models, market distortions and product characteristics as well as touching on the important subjects of empirical estimates of transfer price manipulation and transfer mispricing estimates. Written by Lorraine Eden, one of the founders and a leading contributor to the field, this research review promises to be useful reading for doctoral students, faculty members and policy makers who wish to extend their knowledge on the economics of transfer pricing.

The debates about the what, who, and how of tax policy are at the core of politics, policy, and economics. The Economics of Tax Policy provides a straightforward overview of recent research in the economics of taxation. Tax policies generate considerable debate among the public, policymakers, and scholars. These disputes have grown more heated in the United States as the incomes of the wealthiest 1 percent and the rest of the population continue to diverge. This important volume enhances understanding of the implications of taxation on behavior and social outcomes by having leading scholars evaluate key topics in tax policy. These include how changes to the individual income tax affect long-term economic growth; the challenges of tax administration, compliance, and enforcement; and environmental taxation and its effects on tax revenue, pollution emissions, economic efficiency, and income distribution. Also explored are tax expenditures, which are subsidy programs in the form of tax deductions, exclusions, credits, or favorable rates; how college attendance is influenced by tax credits and deductions for tuition and fees, tax-advantaged college savings plans, and student loan interest deductions; and how tax policy toward low-income families takes a number of forms with different distributional effects. Among the most contentious issues explored are influences of capital gains and estate taxation on the long term concentration of wealth; the interaction of tax policy and retirement savings and how policy can "nudge" improved planning for retirement; and how the reform of corporate and business taxation is central to current tax policy debates in the United States. By providing overviews of recent advances in thinking about how taxes relate to behavior and social goals, The Economics of Tax Policy helps inform the debate.

This volume presents selected papers on recent management research from the 20th Eurasia Business and Economics Society (EBES) Conference, which was held in Vienna in 2016. Its primary goal is to showcase advances in the fields of public economics, regional studies, economic development and inequality, and economic policy-making. Reflecting the contemporary political climate, many of the articles address the effectiveness, relevance and impact of European Union policies. In addition, the volume features empirical research from less-researched countries such as Kazakhstan, the Republic of Macedonia, Belarus, and Lithuania, among others.

Created in 1974, the U.S. Congressional Budget Office (CBO) has become one of the most influential forces in national policymaking. A critical component of our system of checks and balances, the CBO has given Congress the analytical capacity to challenge the president on budget issues while it protects the public interest, providing honest numbers about Congress's own budget proposals. The book discusses the CBO's role in larger budget policy and the more narrow "scoring" of individual legislation, such as its role in the 2009--2010 Obama health care reform. It also describes how the first director, Alice Rivlin, and seven successors managed to create and sustain a nonpartisan, highly credible agency in the middle of one of the most partisan institutions imaginable.

"The Congressional Budget Office: Honest Numbers, Power, and Policy" draws on interviews with high-level participants in the budget debates of the last 35 years to tell the story of the CBO. A combination of political history, economic history, and organizational development, "The Congressional Budget Office" offers an important, first book-length history of this influential agency.

This classic book tells the story of the development of Income Tax from its beginning in 1799 to the present day and relates it to the social, economic and political history of the period. There have been studies of Income Tax at various stages in its growth; studies of finance and taxation in general in which Income Tax has been closely concerned; studies too of some of the Chancellors of the Exchequer who have made significant contributions to the Income Tax system; but this is the first time an attempt has been made to encompass the whole 160 years or so of its life in one volume. And a fascinating story it is too when set in perspective. The author shows how Income Tax was introduced to finance the Napoleonic Wars, how it was revived by Peel to pay for Free Trade, and how it underwrote Victorian prosperity and confidence. He then describes its immense expansion through two World Wars to its present position as a dominant feature of British finance. This book was first published in 1966.

Written during the Second World War against the background of the economic and political futility of the 1930s, this book deals with the changing role of government, and particularly fiscal policy as an instrument for regulating the national income and its distribution. Arguing that the war had an economic basis - the inability of the great industrial nations to provide full employment at rising standards of real income - the book discusses how the failure to achieve a world order in the political sphere must be sought in the facts of economic frustration.

This book discusses the latest developments in the China Pilot Free- Trade Zone strategy. It puts forward and explains the idea that building the Shanghai Pilot Free-Trade Zone (SFTZ) is a national test, as it is a major strategic decision to help China cope with the new situation resulting from opening-up and the further implementation of the reform. Based on China's strategic demand in the era of globalization, this book takes into account the global structure of trade, investment and changes in standards, and studies the system of SFTZ. Moreover, based on the national strategy of building international-caliber free-trade zone, it compares the SFTZ with other established free-trade zones and free-port cities. It reveals the overall SFTZ framework and explains in detail aspects of the financial system, investment management, trade supervision, taxation, offshore trade and finance, government system reform, plus the linkage mechanism of building Shanghai as an international economy, finance, trade and shipping center.

International taxation is a major research topic, and for a field of research at the intersection of so many disciplines there has been surprisingly little done across disciplinary boundaries. This book fills the gap by combining teams from business, economics, information science, law and political science to offer a unique and innovative approach to the issue of international tax coordination. All the chapters are written in collaboration between at least two authors from two different disciplines. This approach offers a rich and nuanced understanding of the many issues of international tax coordination. The book collects seven papers, each one a valuable contribution in itself, beginning with current problems of international taxation and finishing with potential solutions. The essays explore current EU legislation, tax avoidance and tax fraud, as well as double tax agreements, dividend repatriation and hybrid finance and tax planning. Providing methodological answers to the question of how to conduct interdisciplinary research, the book also gives an accessible introduction into research questions and answers that are important in related disciplines for scholars in various areas. This book will be of interest to postgraduates and researchers in the fields of economics, business, informational science, law and political science, as well as to professional accountants and tax lawyers.

Over the last several decades, there has been a growing interest in theoretical, empirical, and experimental work on all aspects of tax compliance and tax evasion. The essays in this volume summarize the existing state of knowledge of tax compliance and tax evasion, present new thinking about this issue, and analyze the empirical relevance of these new perspectives. The original essays in this volume represent an attempt to provide a framework on compliance that moves beyond the economics-of-crime perspective, one that provides a more complete understanding of individual (and group) decisions, and one that is more consistent with empirical evidence.

It is the insights of behavioural economics that provide much of the bases for these essays and the main theme running through this book is that the basic model of individual choice must be expanded, by introducing some aspects of behaviour or motivation considered explicitly by other social sciences.