This comes from Dell’s quarterly filing to May 2 2008:
Income Taxes
We reported an effective income tax rate of approximately 23.5% for the first quarter of Fiscal 2009, as compared to 25.3% for the same quarter in the prior year. The decrease in our effective rate for the first quarter of Fiscal 2009 is primarily due [...]
California is one almighty mess:
About one in every five dollars spent by the state is now money it doesn’t have. Given California is already spending about 7% of its budget servicing its existing debt - a legacy of [its] reluctance to countenance adequate tax levels - that’s more than merely a nuisance. If governor Arnold [...]
I thought I should give the above conference a plug. As the organisers say:
This conference on Political Philosophy and Taxation will address the issue of how the activities of the state should best be funded. The conference will bring together a number of leading political philosophers, as well as a number of other scholars working [...]
Senator Carl Levin and the US Senate Permanent Sub Committee on Investigations have been back in action, looking at non-payment of payroll taxes in the US. As is usual they commissioned a report from the US Government Accountability Office on the issue. It’s findings are staggering:
IRS records show that, as of September 30, 2007, over [...]
A commentator on my blogs on the IFS proposals for the reform of VAT said:
Surely, if we wish for integrity in any debate like this, we must complete the proposition with ‘all other things being equal’. If we cancel a vat subsidy, we would have a very large pot of cash. The virtue or otherwise [...]
Over at TaxationWEB I voice my concern over HM Revenue & Customs’ sweeping programme of local office closures and staff reductions.
As I conclude:
Let’s face reality: local is good. Please stop these closures.
I missed a letter in the FT last week from Lord Wallace of Saltaire, the Lib Dem peer and former LSE academic. He said (and I have edited a little):
The “anger and alarm” from British-based multinationals you report (”Darling in U-turn on foreign profits tax“, July 21) concerning Treasury proposals for corporate taxation should not [...]
Deputy Geoff Southern is one of Jersey’s political opposition. It’s a brave thing to be.
He has a fascinating letter in today’s Jersey Evening Post. He says:
As a rule of thumb, wealthy residents can expect to pay 20% on their first £1m of (declared) Jersey income; 1% on the next £1m and 0.5% on the rest.
We [...]
I expect to find File of 4 on Tuesday 15 July very interesting. The trailer says:
Profits before poverty?In 1948, the post-war Labour Government set up the Colonial Development Corporation, a tax-payers’ fund to promote industry and agriculture in the poorest parts of the Empire.
Sixty years on, today’s Labour Government denies suggestions that it wants to [...]
AccountingWEB (amongst others) has reported that the Tories have issued a press release saying:
A report by a working group headed up by ex-chancellor Lord Howe has suggested the establishment an Office of Tax Simplification (OTS) to examine the existing tax code and make proposals for simplification. As well as being staffed by HMRC and academia, [...]
