This study of the strategic, policy and operational characteristics of Land Value Taxation is a unique and original contribution to Elston knowledge. McCluskey and Franzsen provide a clear and detailed synthesis of existing Land Value Taxation systems and address the perceived advantages and disadvantages of such systems. The implications of this work, based on a two-tier analysis of selected countries, will be critical in terms of informing policy makers when contemplating reviews of existing Land Value Taxation systems or its possible introduction. The empirical research underpinning this work has attempted to concisely provide the role of land value systems within the selected case study countries. The work has clearly identified a number of challenges being faced by those countries and jurisdictions that currently utilise land value tax systems. Given these challenges this book is timely in that it provides detailed expositions of property tax systems that are undergoing significant change and reform.

In the latest volume of Advances in Taxation, series editor John Hasseldine compiles cutting-edge, peer-reviewed studies from expert contributors to explore topics such as: the effects of level of government on trust in revenue agencies; whether understanding tax laws reduces charitable giving; the link between distributive justice and tax fairness judgements; the role of states' R&D tax credits effectiveness in business location; and consumption tax collection on cross-border online sales. Two further contributions separately study the role of designated permanently reinvested earnings (PRE) in the financial statements of multinational corporations. This volume is an exploration of the latest issues in tax and taxation theory, including empirical studies using a variety of research methods from different institutional settings and contexts. It is essential reading for anyone interested in tax policy and its impact in practice.

On its 30th anniversary in 2004 responsibility for hosting the G8 Summit fell into the hands of an allegedly unilateralist America. An America still reeling from the shock of the September 11th terrorist attacks, the resulting economic recession, bitter divisions with its NATO allies and disappointment with the United Nations Institutions over the 2003 Iraq war. So why does America still need the G8? New Perspectives on Global Governance offers new insight into the role of the Group of Eight's major market democracies and challenges the assumption that the G8 is simply a forum for binding a unilateralist hegemonic America. In contrast to seeing the G8 as a means of imposing an American world order this unique collection of new writings suggests that a now vulnerable America must rely on the G8 as a central instrument of foreign policy. America needs the G8 to achieve its security, economic and political interests in the world and to shape the twenty-first central global order it so desperately wants.

How creditors came to wield unprecedented power over heavily indebted countries-and the dangers this poses to democracy The European debt crisis has rekindled long-standing debates about the power of finance and the fraught relationship between capitalism and democracy in a globalized world. Why Not Default? unravels a striking puzzle at the heart of these debates-why, despite frequent crises and the immense costs of repayment, do so many heavily indebted countries continue to service their international debts? In this compelling and incisive book, Jerome Roos provides a sweeping investigation of the political economy of sovereign debt and international crisis management. He takes readers from the rise of public borrowing in the Italian city-states to the gunboat diplomacy of the imperialist era and the wave of sovereign defaults during the Great Depression. He vividly describes the debt crises of developing countries in the 1980s and 1990s and sheds new light on the recent turmoil inside the Eurozone-including the dramatic capitulation of Greece's short-lived anti-austerity government to its European creditors in 2015. Drawing on in-depth case studies of contemporary debt crises in Mexico, Argentina, and Greece, Why Not Default? paints a disconcerting picture of the ascendancy of global finance. This important book shows how the profound transformation of the capitalist world economy over the past four decades has endowed private and official creditors with unprecedented structural power over heavily indebted borrowers, enabling them to impose painful austerity measures and enforce uninterrupted debt service during times of crisis-with devastating social consequences and far-reaching implications for democracy.

The current state of research in the international public finance field is elucidated in the fifteen papers collected in this volume, selected from among the more than 200 that were presented at the 53rd Congress of the International Institute of Public Finance held in Kyoto, Japan, in August 1997. The collection assembled here is not intended to comprise a proceedings of the Congress but, rather, presents the ideas of eminent scholars in seven areas of current research in the international public finance field: The Welfare State, Public Investment and Economic Growth, Inter-Governmental Relations, Tax Competition and Foreign Direct Investment, Foreign Investment in Transitional Economies-Russia and China, and Equalization Transfer Systems in Japan and Australia. The highlight of the Congress was the brilliant debate between two of the greatest authorities in the area of public finance, James M. Buchanan and Richard A. Musgrave, whose papers form the opening section of the volume.

With the introduction of new market-oriented approaches to infrastructure finance policy decision-making in the national and subnational public sectors, there is a greater emphasis on the need for resource efficiency in the delivery of public services. There is also a critical need to evaluate and assess the effectiveness of infrastructure finance policy implementation. Public-Private Partnerships (PPPs) bring an agility and fresh perspective to the financing and delivery of public goods and services, and allow for a higher level of creativity, innovation, and flexibility during times of dynamic change and high demand for responsive solutions. By introducing a comprehensive new lens through which to view infrastructure finance policy as an instrument capable of achieving long-term national and subnational policy objectives, this study offers a unique insight into the potential benefits of the adoption of PPPs within the context of long-term capital investment planning. Through the examination of case studies from the United States, Albania and Mauritius, the author presents a transparent and integrated analysis of the role of PPPs as a policy option within this context. By demonstrating how PPPs can be utilized as a means of efficiently financing and delivering capital infrastructure projects within unified and comprehensive capital management and budgeting systems, this book is essential reading for researchers, policy decision-makers and students of public policy, capital budgeting and infrastructure finance.

Information and communication technology (ICT) is central to reforming governance, innovating public services, and building inclusive information societies. Countries are learning to weave ICT into their strategies for transforming government as enterprises have learned to use ICT to innovate and transform their processes and competitive strategies. ICT-enabled transformation offers a new path to digital-era government that is responsive to the challenges of our time. It facilitates innovation, partnering, knowledge sharing, community organizing, local monitoring, accelerated learning, and participatory development.

In Transforming Government and Building the Information Society, Nagy Hanna draws on multi-disciplinary research on ICT in the public sector, and on his rich experience of over 35 years at the World Bank and other aid agencies, to identify the key ingredients for the strategic integration of ICT into governance and poverty reduction strategies. The author showcases promising practices from around the world to outline the strategic options involved in using ICT to maximize developmental impact-transforming government institutions and public services, and empowering communities for inclusion and grassroots innovation.

Despite the ICT promise, Hanna acknowledges that reforming governance and empowering poor communities are difficult long-term undertakings. Hanna moves beyond the imperatives and visions of e-transformation to strategic design and implementation options, and draws practical lessons for policymakers, reformers, innovators, community leaders, ICT specialists and development experts.

In the latest volume of Advances in Taxation, series editor John Hasseldine presents studies from expert contributors exploring topics such as: corporate tax planning, tax-related accounting misstatements and uncertain tax positions, financial statement readability, the tax effects of a major pension scheme change, and non-professional investor and taxpayer judgments and perceptions. Reporting peer-reviewed research contributions from North America and the U.K., this volume is essential reading for those looking to keep abreast of the most recent research, including empirical studies using a variety of research methods from different institutional settings and contexts.

This book offers a comprehensive empirical analysis of South African inflation dynamics, using a variety of techniques including counterfactual analysis. The authors elaborate the roles in inflation of thresholds, nonlinearities and asymmetries introduced by economic conditions such as the size of exchange rate changes and volatility, GDP growth, inflation, output gap, credit growth, sovereign spreads and fiscal policy, providing new policy evidence on the impact of these. Ndou and Gumata apply techniques to determine the prevalence of updating inflation expectations, and reconsider the propagation effects of a number of inflation risk factors. Asking to what extent the evidence points to a need to enforce price stability and the anchoring of inflation expectation, the book fills existing gaps in South African Policy, and maintains a clear argument that price stability is consistent with the 3 to 6 per cent inflation target range, and that threshold application should form an important aspect of policy analysis in periods of macroeconomic uncertainty. As such, the book serves as an excellent reference text for academic and policy discussions alike.

How creditors came to wield unprecedented power over heavily indebted countries-and the dangers this poses to democracy The European debt crisis has rekindled long-standing debates about the power of finance and the fraught relationship between capitalism and democracy in a globalized world. Why Not Default? unravels a striking puzzle at the heart of these debates-why, despite frequent crises and the immense costs of repayment, do so many heavily indebted countries continue to service their international debts? In this compelling and incisive book, Jerome Roos provides a sweeping investigation of the political economy of sovereign debt and international crisis management. He takes readers from the rise of public borrowing in the Italian city-states to the gunboat diplomacy of the imperialist era and the wave of sovereign defaults during the Great Depression. He vividly describes the debt crises of developing countries in the 1980s and 1990s and sheds new light on the recent turmoil inside the Eurozone-including the dramatic capitulation of Greece's short-lived anti-austerity government to its European creditors in 2015. Drawing on in-depth case studies of contemporary debt crises in Mexico, Argentina, and Greece, Why Not Default? paints a disconcerting picture of the ascendancy of global finance. This important book shows how the profound transformation of the capitalist world economy over the past four decades has endowed private and official creditors with unprecedented structural power over heavily indebted borrowers, enabling them to impose painful austerity measures and enforce uninterrupted debt service during times of crisis-with devastating social consequences and far-reaching implications for democracy.

This book is based upon papers presented at the 10th Annual Conference of the Tax Research Network held at the University of Birmingham, United Kingdom, in September 2000. The book covers four discrete areas namely compliance, e-commerce and taxation, international taxation and taxation within the European Union, and value added tax, and focuses within those areas on issues of topical and continuing interest. In an introductory chapter, the editors provide an overview of the subject matter of each of the substantive chapters (of which there are eleven). They conclude by seeking to extrapolate from those chapters, notwithstanding their diversity, various matters of wider and contemporary import to taxation. The treatment of the material in this book by scholars from various academic disciplines and with differing geographical perspectives also gives distinct and instructive insights into widely recognised and enduring taxation problems within the above-mentioned subject areas. Further, an appreciation and understanding of the multi-faceted approaches which may be adopted for problem solving, and which are evident in this book, can only enhance the prospects of the ultimate resolution of these problems.

This timely book offers bold new fiscal policy options that can complement current automatic stabilizers and counter-cyclical monetary policy to combat recessions. Dr. Seidman acknowledges that most economists are justifiably skeptical of Congress's ability to implement discretionary counter-cyclical fiscal policy in a timely and effective manner, as indicated by the government's heavy reliance on monetary policy to stabilize the economy in recent decades. He argues for an independent fiscal policy board or the Federal Reserve to decide changes in the magnitude of Congress's fiscal policy package of stimulus or restraint. Any recommendations would go into effect immediately without a congressional vote, subject only to congressional override. With thought provoking proposals like this, Dr. Seidman provides a fresh look at practical fiscal policy tools based on the most prominent research in the field.

Since the 19th Century, there has been an accepted distinction between financial systems that separate commercial and investment banking and those that do not. This comprehensive collection aims to establish how and why financial systems develop, and how knowledge of financial differentiation in the 19th Century may afford insight into the development of contemporary banking structure.
This book poses a systematic challenge to Alexander Gerschenkron's 1950s thesis on universal banks. With contributions from leading scholars such as Ranald Michie and Jaime Reis, this well written book provides solid and intriguing arguments throughout.


eBook available with sample pages: 0203222113

This book examines key methodological and organizational questions with regard to assessing the quality of internal audits. By studying the status quo of these audits in the public sector, including municipalities, it identifies relevant weaknesses, loopholes and issues. In addition, the book assesses the strengths and weaknesses of the approved control system to explain the reasons why, and conditions under which, internal audits are ineffective, and proposes new metric and non-metric indicators to improve the quality of internal auditing. Given its scope, the book offers a valuable guide for anyone responsible for financial controls and internal audits, and will appeal to students and financial practitioners alike.

This timely book offers bold new fiscal policy options that can complement current automatic stabilizers and counter-cyclical monetary policy to combat recessions. Dr. Seidman acknowledges that most economists are justifiably skeptical of Congress's ability to implement discretionary counter-cyclical fiscal policy in a timely and effective manner, as indicated by the government's heavy reliance on monetary policy to stabilize the economy in recent decades. He argues for an independent fiscal policy board or the Federal Reserve to decide changes in the magnitude of Congress's fiscal policy package of stimulus or restraint. Any recommendations would go into effect immediately without a congressional vote, subject only to congressional override. With thought provoking proposals like this, Dr. Seidman provides a fresh look at practical fiscal policy tools based on the most prominent research in the field.

What works best for clients? Learn the pros and cons of the LLC, general partnership, limited partnership, and limited liability partnership by focusing on planning and potential tax traps. This title offers a review of distinct advantages of these entities coupled with an examination of the risk members and partners face if they do not have a solid tax plan to minimize their exposure. In addition, the authors explore some of the more intricate rules and regulations of these entities so you can move your working knowledge of partnership and LLC taxation beyond the basics. This book prepares the reader to do the following: Analyze a partnership or LLC agreement to determine whether any special allocations in the agreement will be allowed under Code Section 704(b) Identify the potential economic consequences of special allocations to a partner or LLC member Identify the potential tax consequences when a partner or LLC member has a negative balance in his or her capital account Recognize the relationship between partnership and LLC allocations of profit and loss and the allocation of the risks and rewards of entity operations Distinguish between the requirements for substantiality and those for economic effect under the regulations Distinguish between "book" allocations required under Section 704(b) and "tax" allocations required under Section 704(c) Recognize the three methods described in the Section 704(c) regulations to make special allocations with respect to contributed property Determine when a non-contributing partner or LLC member will or will not be protected by required allocations under Section 704(c) Calculate the gain that can result from reallocation of liabilities when a partner joins a partnership Calculate a partner's or member's share of recourse liabilities of a partnership or LLC Distinguish between recourse and nonrecourse liabilities of a partnership or LLC Analyze the impact of a partner or LLC member's guarantee of a recourse or nonrecourse liability of the entity Recognize when to treat a liability as a recognized versus contingent liability and understand how to account for partnership or LLC contingent liabilities Calculate the basis of each property received by a partner receiving multiple properties in a liquidating vs. non-liquidating distribution from a partnership or LLC Recognize which properties will receive a step-up or step-down in basis when multiple properties are received from a partnership or LLC Allocate basis increases or decreases among multiple properties for federal income tax purposes Determine when an Internal Revenue code (IRC) Section 754 election will allow a partnership or LLC to adjust its basis in its assets Allocate required basis adjustments among partnership or LLC assets Determine the tax consequences associated with the sale of a partner's or member's interest in a partnership or LLC Recognize how using the installment method to account for the sale of a partnership interest will affect how the partner will report his or her gain on the sale Recognize when the sale of an interest in a partnership will trigger a technical termination of the partnership Determine the tax basis and holding period of assets owned by the partnership following a technical termination Determine the tax consequences associated with subsequent dispositions of built-in gain or loss assets following a technical termination

How economics needs to change to keep pace with the twenty-first century and the digital economy Digital technology, big data, big tech, machine learning, and AI are revolutionizing both the tools of economics and the phenomena it seeks to measure, understand, and shape. In Cogs and Monsters, Diane Coyle explores the enormous problems-but also opportunities-facing economics today and examines what it must do to help policymakers solve the world's crises, from pandemic recovery and inequality to slow growth and the climate emergency. Mainstream economics, Coyle says, still assumes people are "cogs"-self-interested, calculating, independent agents interacting in defined contexts. But the digital economy is much more characterized by "monsters"-untethered, snowballing, and socially influenced unknowns. What is worse, by treating people as cogs, economics is creating its own monsters, leaving itself without the tools to understand the new problems it faces. In response, Coyle asks whether economic individualism is still valid in the digital economy, whether we need to measure growth and progress in new ways, and whether economics can ever be objective, since it influences what it analyzes. Just as important, the discipline needs to correct its striking lack of diversity and inclusion if it is to be able to offer new solutions to new problems. Filled with original insights, Cogs and Monsters offers a road map for how economics can adapt to the rewiring of society, including by digital technologies, and realize its potential to play a hugely positive role in the twenty-first century.

The introduction of self-assessment for income tax collection in the late 1990s marked a striking moment of cultural convergence between the UK and the US. This book analyses the socio-political factors leading to and resulting from this fundamental change in the relationship between taxpayers and the Inland Revenue, using perspectives in comparative law and the new outlooks of modern tax and cultural theory. It will be of interest to those studying theories of compliance, cultural legal studies, and law and society.

Over the last few decades universities in Australia and overseas have been criticized for not meeting the needs and expectations of the societies in which they operate. At the heart of this problem is their strategy. This book reviews the organizational-level strategies of some of Australia's prominent universities. It is based on their public documents that boldly report how they see their role in society and how they intend to navigate the future. These strategic statements are written to proclaim relevance, showcase achievements, attract students, and help to gain the support of the communities in which they operate. Using a strategy framework taught in their business schools, this book suggests that most such statements are deficient. Grand aspirations substitute for realistic operations and outcomes. The analysis also suggests that many of Australia's universities are poorly governed and have become too complex and bureaucratic. A greater focus on their core responsibilities would help alleviate their current funding predicament.

"Loopholes of the Rich" helps Americans from all walks of life use the same tax loopholes that the wealthy use to lower their tax bill. With this handy guide, you won?t need an accountant to find quick and easy ways to pay less. And there's nothing unethical about these tax loopholes. In fact, the government wants you to take advantage of them! These tax-reducing tactics and strategies can give you the freedom to save for your family's future or for your own financial independence. Plus, you?ll find a handy checklist of more than 300 business deductions, real-life tax strategy examples, useful sample forms, explanations of IRS codes and rules, and much more.

Virtually all fiscal measures influence people's health, through their impacts on behaviour, consumption, income and wealth. A narrow subset of fiscal measures, however, can be more directly aimed at improving health by targeting behaviours and risks that are known to be strongly associated with health outcomes. The purpose of this book is to discuss the subject of these measures, which we define as 'health taxes'. The book aims to enumerate key health taxes of interest, explore their positive and negative effects, and how these effects are influenced by the design of these taxes and the context in which they are applied. We ask how and where they can be implemented. Critically, we build an argument throughout the book for why policymakers across government should care about health taxes.

Rich with data available in no other source, this is the first comprehensive study of the allocation of state and public financial resources in the Russian Federation. Working with the Russian Ministry of Finance, the Ministry of Economy, the Ministry of Taxes and Duties, and the Russian Statistical Agency, the authors have compiled a dynamic analysis of financial flows between the center and the units of the federation, including both budgetary redistribution and off-budget outlays (e.g., for social insurance and pensions). Among the problems documented in the analysis are the very high differentiation of the regions in terms of levels of development, public welfare, and self-sufficiency; inefficiencies in the taxation system and the prevalence of barter; and the non-transparency of money flows and their role in corruption.

This book explores two recent crises in British political economy: the crisis of 1976-9, for which the trade unions were impugned, and the 2007 economic crisis, for which bankers were (at least initially) blamed. The author argues that the "crisis resolution" of the former - principally the Thatcherite reforms of the 1980s - led to the emergence of the banking crisis. Further, Kirkland demonstrates how narratives of blame have emerged and were used in both instances to promote specific agendas. Narrations of blame and crises were used to curb the trade union powers in the 1980s, whilst the 2007 crisis was quickly reframed as one of excessive government spending, which in turn has led to policies of austerity.

This Handbook responds to the needs and aspirations of current and future generations of development economists by providing critical reference material alongside or in relation to mainstream propositions. Despite the potential of globalisation in accelerating growth and development in low and middle-income countries through the spread of technology, knowledge and information, its current practice in many parts of the world has led to processes that are socially, economically and politically and ecologically unsustainable. It is critical for development economists to engage with the pivotal question of how to change the nature and course of globalisation to make it work for inclusive and sustainable development. Applying a critical and pluralistic approach, the chapters in this Handbook examine economics of development paths under globalisation, focusing on sustainable development in social, environmental, institutional and political economy dimensions. It aims at advancing the frontier of development economics in these key aspects and generating more refined policy perspectives. It is critically reflective in examining effects of globalisation on development paths to date, and in terms of methodological and analytical approaches, as well as forward-thinking in policy perspectives with a view to laying a foundation for sustainable development.