129773984760781250_45Review: Reuters Breakingviews founder and edit the Dickson (HUGO DIXON) wrote in the New York Times, inadequate banking tax was one of the key structural causes of the financial crisis, and now States are considering new ways to change this fact. Following Dixon's commentsFull text of the article: the Robin Hood tax to say goodbye, but has paved the way for new, hot money must be controlled. EU plans to financial transaction fee plan is dead. They had intended to charge fees, and is called the so-called "Robin Hood tax" is called, because it is based on some form of money from banksCome over to other poor people. This principle is a good thing. This idea is occupied by campaigns and gates (Bill Gates) proposed by the famous philanthropist, but in fact, this idea has its social significance, but it doesn't make economic sense to speak of. Count on such charges levied to prevent too many banks rely on leverage means that rely on hot money,And thus prevent potential financial crisis is like fish, and instead can only be forced to transfer the business to foreign financial institutions. From the beginning, United Kingdom opposed such a move, which also means the European Union as a whole to adopt this approach, has no chance. Now, the Netherlands also stand up against, therefore concerted action to the eurozone, has also come to naught.Germany's Finance Minister Shuo Hible (Wolfgang Sch?uble) has stated that implementation of such a tax "the smallest unit that can be considered" euro
tera power leveling, the Robin Hood tax is completely buried only had time for. This week, EU Finance Ministers in Denmark Copenhagen Conference to discuss choice of taxing the financial sector. HeWho guidelines is, of course
tera gold, want control of the industry, so that the latter do not take on too much risk, while avoiding distortions in economic activity.����Taking into account the foregoing, Europe �C or you can now be included elsewhere in the world �C there are three things that have to get done. First of all, States should be the so-called hot money tax on banks. A project like this is the PINOn the Bank's overall lending.����In the ideal case, short-term borrowing and especially is a heavy duty, because on this low cost, easy financing of excessive reliance on it is leading to the Royal Bank of Scotland and the bankruptcy of Lehman Brothers, among others, one of the important reasons. Hot money taxes will force banks to appear more to borrow long-term debt or trying to attractFor a more stable retail deposits.����This also means that if the Government had to rescue banks again in the future, at least the industry also must pay for their own abilities. Information provided by KPMG showed that so far, including the United Kingdom, and France and Germany including 27 EU members already have 11 in the implementation of such a tax. Other members of the EU will alsoFollow up, there are United States, too, which is in the making of the Obama administration's so-called "financial crisis responsibility fee".����Although the United States has been impossible before the presidential election in November, and then what's the big, but in the final analysis, a sum of money the tax range can still help the United States reduce the fiscal deficit. Secondly, States should reform their tax systems, reversing the support of debtThe tendency. In most places, enterprises prior to the payment of corporate taxes, their interest payments can be deducted from the profits.����Equivalent would be tantamount to encouraging enterprises to take radical means of leverage. In this case, not only banks, but the economy as a whole will be affected, but there is no doubt that those borrowing risks in particular. They not onlyYourself depends greatly on means of leverage and excessive liabilities their clients also often occurs, in this respect, real estate developer and debt buyer is a case in point. Third, financial services should no longer be exempted from VAT treatment. Sales tax is a consumption tax applied to all aspects of production. When selling products to other companies, the business must pay value-addedTaxes, but by their own purchases you can get appropriate tax concessions. This means that, in the final analysis, is in fact the end consumer of paying this tax. However, in the EU and in other places, banks are exempt from this tax.����The services they provide to consumers does not apply to sales tax and their own items or does not have the appropriate discount. This particularity resultedSome distort the results. Financial services end-consumers paying less, meaning that they are excessive consumption.����Accordingly, customers bear the heavy burden of enterprises, because they didn't find sales tax money is paid to the Bank offers. Sales tax exemption may also cost to government revenue. In this respect, there is no exact data, but the United Kingdom Institute for fiscal studiesMirrlees Review had been tentative assessment of last year, found that loss of revenue of 10 billion pounds a year in the United Kingdom, about US $ 15.87 billion. In light of the above issues, financial services continue to enjoy tax exemption seems to be too little sense, but in this regard is also had to the appropriateExplains. Most services in the banking sector is not non-search, on the contrary, their income is mainly from the loan interest rate differential.����In a variety of customer on the price differential to split in order to ensure that the purposes of value added tax, and indeed was too cumbersome and complex. In General, there are two feasible solution is. First is through the complex of technical means, while the second one is the so-called"Financial activities tax", this tax is profit for the Bank, and they issued to employees for salaries, theoretically speaking, this provides another way to assess the added value of the two methods. Financial activities tax embodies a potentially populist appeal
tera gold, this is not just because the name's sake. After all, in the current environment, to the bankers who will object to your InboxIn, and taxable profit of the Bank?����However, there is still an obstacle to overcome, namely tax concessions granted to corporate customers and financial activities. It is obvious that you want to change the Bank's tax regulations and policies applicable, is a very complex matter. However, taking into account the financial crisis they caused havoc, given their lack of tax facts, taking into account the current system does not facilitate macro-Economic activities, all these efforts are to be made. Near-death of the Robin Hood tax, also provided a new opportunity. (Jin)
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