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2023年12月六级英语tax cut解析The Importance of Tax Cuts in December 2023In December 2023, the government introduced a new tax cut policy aimed at stimulating the economy and reducing the financial burden on individuals and businesses. This move is expected to have a significant impact on various sectors of society and the economy as a whole. In this article, we will analyze the implications of the tax cuts and discuss how they might affect different stakeholders.First and foremost, the tax cuts are likely to benefit individual taxpayers by putting more money in their pockets. With lower tax rates, people will have more disposable income to spend on goods and services, which could boost consumer spending and stimulate economic growth. This, in turn, could lead to increased demand for goods and services, driving up production and creating more job opportunities.Moreover, businesses are also expected to benefit from the tax cuts. With lower corporate tax rates, companies will have more capital to invest in expansion, innovation, and hiring new employees. This could potentially lead to increased productivity,competitiveness, and profitability, thereby creating a more conducive environment for business growth and development.Furthermore, the tax cuts could have a positive effect on the overall economy by increasing GDP growth and reducing the budget deficit. As more money circulates in the economy, businesses will generate higher revenues, leading to increased tax receipts for the government. This could help offset the revenue loss from the tax cuts and contribute to a more balanced budget in the long run.Additionally, the tax cuts could attract more foreign investment and improve the country's competitiveness on the global stage. Lower tax rates make the country more attractive to foreign investors, who may see it as a more favorable destination for their investments. This could lead to an influx of foreign capital, technology, and expertise, which could further stimulate economic growth and create new opportunities for domestic businesses.However, it is important to consider the potential drawbacks of the tax cuts as well. Lower tax rates could lead to a reduction in government revenue, which may affect public services and welfare programs. This could result in cuts to essential services such as healthcare, education, and social welfare, which couldhave a negative impact on vulnerable populations and exacerbate income inequality.Moreover, the tax cuts could also widen the wealth gap between the rich and the poor. While high-income earners may benefit the most from lower tax rates, low-income individuals and families may not see significant changes in their financial situation. This could lead to social unrest and dissatisfaction among the population, which could undermine the long-term stability and prosperity of the country.In conclusion, the tax cuts introduced in December 2023 have the potential to stimulate economic growth, boost consumer spending, and attract foreign investment. However, it is essential for policymakers to carefully consider the potential consequences of these tax cuts and take proactive measures to mitigate any negative effects on the economy and society. By striking a balance between promoting economic growth and ensuring social equity, the government can maximize the benefits of the tax cuts and create a more prosperous and inclusive society for all.。
2014年6月英语六级考试真题试卷（第1套）Part I Writing (30 minutes)Directions: For this part, you are allowed 30 minutes to write an essay explaining why it is unwise to jump to conclusions upon seeing or hearing something. You can give examples to illustrate your point. You should write at least 150 words but no more than 200 words.1. A) College tuition has become a heavy burden for the students.B) College students are in general politically active nowadays.C) He is doubtful about the effect of the students' action.D) He took part in many protests when he was at college.2. A) Jay is organizing a party for the retiring dean.B) Jay is surprised to learn of the party for him.C) The dean will come to Jay's birthday party.D) The class has kept the party a secret from Jay.3. A) He found his wallet in his briefcase.B) He went, to the lost-and-found office.C) He left his things with his car in the garage.D) He told the woman to go and pick up his car.4. A) The show he directed turned out to be a success.B) He watches only those comedies by famous directors.C) New comedies are exciting, just like those in the 1960s.D) TV comedies have not improved much since the 1960s.5. A) All vegetables should be cooked fresh.B) The man should try out some new recipes.C) Overcooked vegetables are often tasteless.D) The man should stop boiling the vegetables.6. A) Sort out their tax returns.B) Help them tidy up the house.C) Figure out a way to avoid taxes.D) Help them to decode a message.7. A) He didn't expect to complete his work so soon.B) He has devoted a whole month to his research.C) The woman is still trying to finish her work.D) The woman remains a total mystery to him.8. A) He would like to major in psychology too.B) He has failed to register for the course.C) Developmental psychology is newly offered.D) There should be more time for registration.Questions 9 to 11 are based on the conversation you have just heard.9. A) The brilliant product, design.B) The new color combinations.C) The unique craftsmanship.D) The texture of the fabrics.10. A) Unique tourist attractions.B) Traditional Thai silks.C) Local handicrafts.D) Fancy products.11. A) It will be on the following weekend.B) It will be out into the countryside.C) It will last only one day.D) It will start tomorrow.Questions 12 to 15 are based on the conversation you have just heard.12. A) A good secondary education.B) A pleasant neighbourhood.C) A happy childhood.D) A year of practical training.13. A) He ought to get good vocational training.B) He should be sent to a private school.C) He is academically gifted.D) He is good at carpentry.14. A) Donwell School.B) Enderby High.C) Carlton Abbey.D) Enderby Comprehensive.15. A) Put Keith in a good boarding school.B) Talk with their children about their decision.C) Send their children to a better private school.D) Find out more about the five schools.Passage OneQuestions 16 to 18 are based on the conversation you have just heard.16. A) It will be brightly lit.B) It will be well ventilated.C) It will have a large space for storage.D) It will provide easy access to the disabled.17. A) On the first floor.B) On the ground floor.C) Opposite to the library.D) On the same floor as the labs.18. A) To make the building appear traditional.B) To match the style of construction on the site.C) To cut the construction cost to the minimum.D) To embody the subcommittee's design concepts.Passage TwoQuestions 19 to 22 are based on the passage you have just heard.19. A) Sell financial softwareB) Write financial software.C) Train clients to use financial software.D) Conduct research on financial software.20. A) Unsuccessful. B) Rewarding. C) Tedious. D) Important.21. A) He offered online tutorials.B) He held group discussions.C) He gave the trainees lecture notes.D) He provided individual support.22. A) The employees were a bit slow to follow his instruction.B) The trainees' problems has to be dealt with one by one.C) Nobody is able to solve all the problems in a couple of weeks.D) The fault might he in his style of presenting the information.Passage ThreeQuestions 23 to 25 are based on the passage you have just heard.23. A) Their parents tend to overprotect them.B) Their teachers meet them only in class.C) They have little close contact with adults.D) They rarely read any books about adults.24. A) Real-life cases are simulated for students to learn law.B) Writers and lawyers are brought in to talk to students.C) Opportunities are created for children to become writers.D) More Teacher and Writer Collaboratives are being set up.25. A) Sixth-graders can teach first-graders as well as teachers.B) Children are often the best teachers of other children.C) Paired Learning cultivates the spirit of cooperation.D) Children like to form partnerships with each other.Tests may be the most unpopular part of academic life. Students hate them because they produce fear and __26__ about being evaluated, and a focus on grades instead of learning for learning's sake.But tests are also valuable. A well-constructed test __27__ what you know and what you still need to learn. Tests help you see how your performance __28__ that of others. And knowing that you'll be tested on __29__ material is certainly likely to __30__ you to learn the material more thoroughly.However, there's another reason you might dislike tests: You may assume that tests have the power to __31__ your worth as a person. If you do badly on a test, you may be tempted to believe that you've received some __32__ information about yourself from the professor, information that says you're a failure in some significant way.This is a dangerous-and wrong-headed-assumption. If you do badly on a test, it doesn't mean you're a bad person or stupid. Or that you'll never do better again, and that your life is __33__. If you don't do well on a test, you're the same person you were before you took the test-no better, no worse. You just did badly on a test. That's it.__34__, tests are not a measure of your value as an individual-they are a measure only of how well and how much you studied. Tests are tools; they are indirect and _35__ measures of what we know.Questions 36 to 45 are based on the following passage.For investors who desire low risk and guaranteed income, U. S. government bonds are a secure investment because these bonds have the financial backing and full faith and credit of the federal government. Municipal bonds, also secure, are offered by local governments and often have __36__ such as tax-free interest. Some may even be __37__. Corporate bonds are a bit more risky.Two questions often __38__ first-time corporate bond investors. The first is "It 1 purchase a corporate bond, do I have to hold it until the maturity date?" The answer is no. Bonds are bought and sold daily on __39__ securities exchanges. However, if you decide to sell your bond before its maturity date, you're not guaranteed to get the face value of the bond. For example, if your bond does not have __40__ that make it attractive to other investors, you may be forced to sell your bond at a __41__, i.e., a price less than the bond's face value. But if your bond is highly valued by other investors, you may be able to sell it at a premium, i.e., a price above its face value. Bond prices generally __42__ inversely (相反的) with current market interest rates. As interest rates go up, bond prices fall, and vice versa (反之亦然) Thus, like all investments, bonds have a degree of risk.The second question is "How can I __43__ the investment risk of a particular bond issue?" Standard & Poor's and Moody's Investors Service rate the level of risk of many corporate and government bonds. And __44__, the higher the market risk of a bond, the higher the interest rate. Investors will invest in a bond considered risky only if the __45__ return is high enough.注意：此部分试题请在答题卡2 上作答。
简述缓解国际重复征税的方法随着全球经济的快速发展和国际贸易的日益频繁，国际重复征税问题日益突出。
重复征税指的是在跨国经营活动中，由于不同国家之间的税收体系和立法规定的差异，导致同一项经济活动被多次征税的情况。
这不仅给企业的经营带来不便，也阻碍了国际贸易的顺利进行。
为了解决这一问题，国际社会在过去几十年中提出了一系列的方法和机制。
本文将从多边合作、双边协议、税务安排和信息交流等方面来探讨缓解国际重复征税的方法。
一、多边合作多边合作是缓解国际重复征税问题的重要手段之一。
在国际社会中，各国可以通过签订多边税收协议，共同制定统一的税收规则和准则，以避免同一项经济活动被多次征税。
例如，联合国通过《联合国模式双重征税和避免税务协定》等文件，为各国提供了一个基础性的框架，鼓励各国之间进行税收协商和合作，以解决双重征税问题。
此外，国际货币基金组织、世界贸易组织等国际组织也可以发挥重要的作用，促进各国之间的合作和协商，推动国际税收体系的改革和完善。
二、双边协议除了多边合作，双边协议也是缓解国际重复征税问题的有效途径。
双边协议是指两个国家之间就税收问题进行协商和达成的协议。
通过双边协议，两个国家可以就双重征税、避免税务漏洞和信息交流等问题进行合作，以减少重复征税的发生。
例如，中国与许多国家签订了双边税收协定，规定了双方之间的税收权利和义务，避免了同一项经济活动被多次征税。
同时，双边协议还可以为企业提供更加稳定和可预测的税收环境，促进投资和贸易的发展。
三、税务安排税务安排是缓解国际重复征税问题的另一种方法。
通过税务安排，企业可以利用各国之间的税收优惠政策和税务规定，来减少重复征税的发生。
例如，企业可以选择在税收优惠较大的地区设立子公司或分支机构，以实现税收优惠。
此外，企业还可以通过转让定价、利润分配和资金调度等方式，合理调整跨国经营活动的税务安排，以减少重复征税的风险。
然而，税务安排也需要符合各国的法律和法规，避免滥用税收制度和逃避税收的行为。
表达不公平的现状和规则的具体例子英语作文全文共3篇示例，供读者参考篇1Title: The Current Unfairness in Society and Rules: Examples and ReflectionIn today's society, unfairness is a common issue that affects many people in various aspects of their lives. From work opportunities to social norms, there are instances of unfairness that create disparities and hinder progress for individuals. In this essay, we will explore specific examples of unfairness in society and rules and reflect on how these can be addressed.One of the most prevalent examples of unfairness in society is the gender pay gap. Despite advancements in gender equality, women still earn less than men for the same work. According to the World Economic Forum's Global Gender Gap Report 2020, women earn on average 63% of what men earn globally. This disparity is not only unfair but also perpetuates inequality in the workforce and limits women's economic empowerment.Another example of unfairness in society is racial discrimination. People of color often face barriers in education,employment, and social opportunities due to systemic racism. This manifests in lower graduation rates, higher unemployment rates, and limited access to resources for minority communities. The Black Lives Matter movement has brought attention to these injustices, calling for systemic change to address racial inequality.In addition to societal unfairness, there are also examples of unfair rules and regulations that perpetuate disparities. One such example is the criminal justice system, where marginalized communities are disproportionately targeted and face harsher sentencing. Studies show that people of color are more likely to be arrested, convicted, and incarcerated compared to their white counterparts, highlighting the need for reform in the justice system.Furthermore, regulations in the healthcare system can also contribute to unfairness. High medical costs and lack of access to affordable care can disproportionately affect low-income individuals and lead to disparities in health outcomes. This lack of healthcare equity perpetuates cycles of poverty and limits opportunities for those who are already marginalized.To address these examples of unfairness in society and rules, it is essential to advocate for policy changes and promoteawareness of these issues. Governments, organizations, and individuals must work together to create a more just and equitable society for all. This can be achieved through implementing laws that protect marginalized groups, providing resources for those in need, and fostering a culture of inclusivity and respect.In conclusion, unfairness in society and rules is a pressing issue that affects individuals on a global scale. By examining specific examples of unfairness and discussing ways to address them, we can work towards creating a more equitable and just society for all. It is crucial to recognize the impact of unfairness and take proactive steps to promote equality and fairness in all aspects of life.篇2Title: The Unfair Reality: Examples of Unfairness in Modern SocietyIntroductionIn today's world, despite advancements in various fields, unfairness still exists in different aspects of life. From gender inequality to socio-economic disparities, examples of injustice can be seen all around us. This essay will explore some specificexamples of unfairness in modern society, highlighting the need for change and fairer rules and regulations.Examples of Unfairness1. Gender Pay GapOne of the most widely discussed forms of unfairness is the gender pay gap. Studies have shown that women, on average, earn less than men for the same work. This unjust practice is a result of various factors, including discrimination and stereotypes. Despite efforts to address this issue, the pay gap persists, demonstrating the need for stricter regulations and enforcement mechanisms to ensure equal pay for equal work.2. Racial DiscriminationAnother example of unfairness is racial discrimination, which continues to impact individuals and communities around the world. People of color often face systemic barriers that limit their opportunities for education, employment, and advancement. This form of injustice is deeply rooted in historical prejudices and biases, highlighting the importance of implementinganti-discrimination policies and promoting diversity and inclusion in all sectors of society.3. Access to HealthcareAccess to quality healthcare is a basic human right, yet disparities in healthcare services persist in many countries. People from marginalized communities, including low-income individuals and minorities, often face barriers to accessing proper medical care, leading to poorer health outcomes. This inequality in healthcare highlights the need for policies that ensure universal access to affordable and equitable healthcare services for all.4. Educational InequalityEducational inequality is another prevalent form of unfairness that affects individuals from disadvantaged backgrounds. Students in underprivileged schools often lack access to resources and opportunities that are essential for academic success. This disparity in education perpetuates social and economic inequalities, emphasizing the need for policies that address the root causes of educational inequality and provide equal opportunities for all students.ConclusionIn conclusion, unfairness exists in various forms in modern society, affecting individuals and communities in profound ways. It is imperative that we address these injustices by advocating for fairer rules and regulations that promote equality and justice forall. By recognizing and challenging unfair practices, we can work towards building a more equitable and inclusive society where everyone has the opportunity to thrive and succeed. Let us strive for a world where fairness and justice prevail, and where every individual is treated with dignity and respect.篇3The Concept of Unfairness in Society and Its Impact on RulesIntroductionThe concept of unfairness is a prevalent issue in society that can manifest itself in various ways, leading to disparities and injustices. This essay will examine the current state of unfairness in society and explore specific examples of unfair rules that perpetuate inequality. By shedding light on these issues, we can gain a better understanding of how unfairness operates and its impact on societal structures.Unfairness in SocietyUnfairness in society can take many forms, ranging from economic inequality to discrimination based on race, gender, or socio-economic status. These disparities can exacerbate existing inequalities and create barriers to opportunities for marginalized groups. For example, in the United States, income inequality hasreached historic levels, with the wealthiest 1% of the population holding a disproportionate amount of wealth compared to the rest of the population. This disparity is often perpetuated by unfair tax policies and economic structures that favor the wealthy at the expense of the less fortunate.Additionally, discrimination based on race and gender continues to be pervasive in many aspects of society, from hiring practices to access to education and healthcare. For example, studies have shown that women and people of color are often paid less than their white male counterparts for the same work, highlighting the systemic nature of discrimination in the workforce.Unfair Rules and Their ImpactUnfair rules are often put in place to maintain existing power structures and uphold the interests of those in positions of privilege. These rules can perpetuate inequality and limit opportunities for marginalized groups, further entrenching social disparities. For example, voting laws that restrict access to the ballot for certain populations, such as people of color orlow-income individuals, can disenfranchise these groups and undermine the democratic process. Similarly, zoning laws that segregate neighborhoods based on income levels canperpetuate economic inequality and limit opportunities for upward mobility.In the realm of education, unfair rules can also have a significant impact on students from marginalized backgrounds. For example, the use of standardized testing as a measure of academic achievement can disadvantage students who come from low-income or under-resourced schools, as they may not have access to the same resources and support as their wealthier peers. This can perpetuate existing disparities in educational outcomes and limit opportunities for students to succeed.Addressing Unfairness in SocietyIn order to address unfairness in society, it is essential to challenge existing power structures and advocate for policies that promote equity and justice for all. This can involve implementing fair tax policies that redistribute wealth more equitably, as well as advocating for voting rights laws that ensure access to the ballot for all eligible citizens. Additionally, promoting diversity and inclusion in the workforce can help to combat discrimination and create more opportunities for marginalized groups to succeed.Furthermore, addressing unfairness in education can involve rethinking traditional assessment methods and implementingpolicies that provide more support for students from underprivileged backgrounds. This can include investing in resources for low-income schools, as well as implementing measures to ensure that all students have access to quality education regardless of their socio-economic status.ConclusionIn conclusion, unfairness in society is a pervasive issue that can manifest itself in various ways, perpetuating existing inequalities and limiting opportunities for marginalized groups. By examining specific examples of unfair rules and their impact, we can gain a better understanding of how unfairness operates and work towards creating a more just and equitable society. Through advocating for policies that promote equity and justice, we can address the root causes of unfairness and create a more inclusive and equitable society for all.。
税收饶让概述 税收饶让亦称“饶让抵免”或“虚拟抵免”是指在处理避免国际双重课税事务中，居住国（或国籍国）政府对跨国纳税⼈从⾮居住国（或⾮国籍国）得到减免的那部分税收视同已经缴纳，给予抵免。
跨国纳税⼈已纳居住国（或国籍国）境外所得税或⼀般财产税税额，如果低于其来源或存在于境外⾮居住国（或⾮国籍国）的跨国所得或跨国⼀般财产价值，按照居住国（或国籍国）税法规定计算的应纳税额，即抵免限额，其低于的差额税款仍应向居住国（或国籍国）补缴。
这种抵免机制使跨国纳税⼈从⾮居住国（或⾮国籍国）给予的减免税待遇中得不到实惠，使⾮居住国（或⾮国籍国）政府的⿎励外商投资和吸引国外技术的税收优惠措施也⽆从发挥实际效果。
因此经过有关国际税收协定，由投资者和技术输出者的居住国（或国籍国）政府承担税收饶让义务，即把这部分减免税款视同已经缴纳，予以抵免，从⽽避免上述⽭盾的发⽣。
税收饶让多属发达国家单⽅⾯对发展中国家减免税所承担的协定义务。
但是，发展中国家之间签订税收协定，也可以按照对等原则，相互给予对⽅的减免税以税收饶让。
税收饶让是在对国际重复征税采⽤抵免法给予免除的条件下产⽣的，但它所免除的不是国际重复征税，⽽是并未向⾮居住国缴纳过的税收，它实际上是对跨国纳税⼈的⼀种税收优惠。
税收饶让这种特殊的抵免，主要⽤于发达国家发展中国家间。
发展中国家以税收优惠政策来吸引外资和先进技术，为保证其税收优惠真正落实到跨国纳税⼈⾝上，要求发达国家实⾏税收饶让给予配合。
税收饶让通常需要通过签订双边税收协定的⽅式予以确定。
税收饶让的⽅式 ⽬前国际上实⾏的税收饶让⽅式主要有两种，⼀是差额饶让抵免，指居住国政府对其居民来源于⾮居住国的所得按⾮居住国税法规定税率计算的税额与按税收协定限制税率缴税额之差额，视同已纳税额⽽给予的抵免。
⼆是定率饶让抵免，指居住国政府对其居民在⾮居住国⽆论得到多少减免优惠，均按⼀个固定抵免税率⽽给予的抵免。
这⼀固定抵免税率将由缔约国双⽅在税收协定中加以明确。
2023年6月10日雅思大作文真题全解，附高分范文6.10雅思大作文真题解析+高分范文话题：社会话题—人们是否应该交税题目：Some people think we should keep all the money we earn and not pay taxes to the state. To what extent do you agree or disagree?写作思路:公民纳税是合理合法的事情。
政府需要用税收的钱来维持社会的正常运转，比如建设和维护基础设施，提供各种公共服务。
此外，税收制度也是一种财富再分配的机制，高收入群体缴纳的税收比例更高。
政府将用税收资助弱势群体，建立社会保障体系，促进了社会的稳定和发展。
所以，除了部分低收入、困难的免税群体，大部分人都需要缴税。
雅思写作真题范文Taxes play a vital role in funding public services andensuring societal well-being. While some people arguefor keeping all the money earned and question thenecessity of paying taxes to the state, I disagree with thisopinion.Admittedly,individuals with low ines can retain allthe money they earn, which is a mon policy adoptedby many countries worldwide. This is to ensure everymember of society has the money to meet their basicsurvival needs.However, when a person s inesurpasses a certain threshold, they should fulfill theirobligation of paying taxes to the state.One primary reason for paying taxes is that governmentsneed money to maintain criticalinfrastructure andprovide public services. Education, healthcare.transportation, and public safety are all supported by taxrevenue. Without adequate funds, these essentialservices would suffer, affecting people' s lives andhindering societal progress. By contributing a portion oftheir earnings through taxes, individuals activelyparticipate in building a well-functioning society.真题范文Moreover, taxation serves as a mechanism forredistribution of wealth and the promotion of socialstability.In most tax systems, individuals with higherines contribute a larger proportion of their earningsThis policy can help address socioeconomic disparitiesand provide a safety net for the vulnerable members ofsociety. lf people were allowed to keep all the moneythey earn, it would widen the gap between the rich andthe poor, leading to various social problems, such asresentment towards the wealthy or even an increase inviolent crimes.In conclusion,I disagree with the idea of keeping all themoney people earn without paying taxes, as it fails toacknowledge the crucial role that taxation plays insustaining and advancing society重点词汇与语料fund提供资金necessity必要性retain保留surpass超过threshold门槛obligation义务infrastructure基础设施revenue收入adequate足够的hinder阻碍well-functioning 运转良好的mechanism机制重点词汇与语料redistribution重新分配disparity差距safety net安全保障vulnerable弱势的resentment憎恨sustain维持以上就是关于《2023年6月10日雅思大作文真题全解，附高分范文》介绍。
个人所得税英文参考文献个人所得税英语参考文献一：[1]José Félix Sanz-Sanz. The Laffer curve in schedular multi-rate income taxes with non-genuine allowances: An application to Spain[J]. Economic Modelling,2019,.[2]Craig Brett,John A. Weymark. Voting over selfishly optimal nonlinear income tax schedules[J]. Games and Economic Behavior,2019,.[3]Mónica Unda Gutiérrez. A Tale of Two Taxes: the Diverging Fates of the Federal Property and Income Tax Decrees in post-Revolutionary Mexico[J]. Investigaciones de Historia Económica - Economic History Research,2019,.[4]Sim Choon Ling,Abdullah Osman,Safizal Muhammad,Sin Kit Yeng,Lim Yi Jin. Goods and Services Tax （GST） Compliance among Malaysian Consumers: The Influence of Price, Government Subsidies and Income Inequality[J]. Procedia Economics and Finance,2019,35.[5]Martin Lopez-Daneri. NIT Picking: The Macroeconomic Effects of a Negative Income Tax[J]. Journal of Economic Dynamics and Control,2019,.[6]Tad Miller,Lindsay Miller,Jeffrey Tolin. Provision for income tax expense ASC 740: A teaching note[J]. Journal of Accounting Education,2019,35.[7]Petr David,Lucie Formanová。
Narrow the gap between rich and poorFirst, wage income and capital income, such as business profits, dividends, stock investment profit, part-time income, JiangKeFei, payment and so on in the proportion of total income plays an more and more important. At the same time, because there are some unfair "reverse adjustment" policy position higher - income groups often get higher welfare allocation, and lower group instead - many in the "system" of the "new rich" to maintain possession of social welfare resources scarcity, continue to enjoy within the system of welfare and in-kind subsidies, housing, medical insurance, pension, salary, and so on welfare and physical benefits.Second, the monetary capital and human capital that the rich usually have had the characteristics of high yields and rapid appreciation. Under the market mechanism, monetary capital gains arithmetic progression according to geometric progression growth and wage income according to growth, capital gains in the proportion of total social wealth increment increasingly rising, wealth to the rich quickly concentrated trend is inevitable. In addition, many rich people have higher human capital, such as highly educated, rich management experience, or other elements is consistent with the requirement of market economy, such as bold, bold innovation, and social communication ability, etc., are more likely to occupy a high return professional position, to obtain high yield.socialOn education, education is not fully implemented and there isa gap in the level of education in the provinces, and the cost of education is too high.The medical system is not healthy. There are still problems in the countryside that are difficult to see.Housing, housing security is not sound, and the housing industry is poorly regulated.The social security system is not sound, and there is no social security system covering the whole country.In conclusion, there are two reasons why the gap between rich and poor in our country should not be eliminated.The first is that the development effort is not enough, and many problems in development have not been solved.countermeasures"The main paradox of the current wealth gap in our country is not that the rich are too rich, but that the poor are too poor," said Lin. "The majority of the poor are in the countryside, so the gap between the urban and rural areas is widening, because the poor people in the cities are also having income distribution." The poor are poor, but the poor are too poor. So the wealth gap must be solved by the poor. The key to solve the gap between rich and poor is "to get rich to the poor", the major source of income for the poor that is labor, be they rich will need to focus on developing labor intensive industries or through technical training, enabling them to use education andtechnical training to share to expand the middle class and promotion opportunity, let them engaged in the technology industry, so as to improve their employment and income, narrowing the gap between rich and poor. And our country can also rely on labor and skilled workers to develop rapidly. The key is to change the thinking of development, implement the scientific outlook on development, transform the mode of economic growth, and develop the economy according to comparative advantage.Engels once pointed out, "all, or at least all the citizens of a country, or all the members of a society should have equal political status and social status." Deng xiaoping also said "we is a socialist country, the national income distribution to make all the people who benefit.. And the current our country social security system more perfect, mainly in the city, and the vast rural and mountainous areas are no good social security system. So in the process of narrowing the gap between rich and poor, we must consider to establish a perfect social security system, set up the minimum wage, maximum hours and safeguard the legitimate interests of the poor.1, the state:(1) to improve the distribution of wealth, both to be efficient and to speak fairness and to social responsibility.(2) perfect the tax policy, the provinces according to the actual situation of the income tax threshold, impose heavy tax, as well as the high luxury consumption, strengthen the supervision of tax and prevent enterprise, personal taxevasion.(3) the establishment of a comprehensive, systematic, moderate, fair and effective social security system. The system should cover urban and rural areas, covering the four areas of old-age, unemployment, medical, work-related injuries and accidents.(4) to regulate market competition mechanism, crack down on counterfeit and shoddy goods, market monopoly and other illegal activities, and realize the equality of opportunity under the law.(5) we will improve the education system in our country, increase the investment of education and set up the education supervision system, and put "teacher DE" in the teacher's performance appraisal.(6) regulate the real estate sector, crack down on the behavior of bidding up prices, improve the housing guarantee mechanism, and strengthen the supervision of the housing guarantee system.(7) to establish an objective and effective performance review mechanism, and to strengthen supervision over the performance inspection of the provinces. We will improve the ranks of the cadres and crack down on corruption.(8) the government should not only "transfusions" in the process of poverty alleviation, but also more importantly "hematopoiesis".2, the society:(1) expand the employment channel and provideemployment opportunities for people with low income levels, such as migrant workers.(2) to properly guide the public opinion and treat people of different professions, such as farmers, businessmen and intellectuals equally.(3) using the news media rationally enables people to establish the right view of consumption.3, individual:(1) the poor should make themselves out of poverty through reasonable and legal means, improve their own quality and expand their survival skills.(2) the rich should conscientiously fulfill the social responsibility, on a voluntary basis, and took out a portion of their wealth, through charity, to help the poor regions and vulnerable groups, to improve their health, culture, education and living conditions.The 18th national congress of the communist party of China (CPC) proposed the reform of income distribution.-- we must stick to the path of common prosperity. Common prosperity is the fundamental principle of socialism with Chinese characteristics. To adhere to the socialist basic economic system and distribution system, adjust the pattern of national income distribution, increase the intensity of redistribution adjustment, focus on solving the problem ofincome distribution gap is bigger, make development more fair benefit all the people, has made steady progress toward the direction of common prosperity.-- people's living standards have been comprehensively improved. Equal basic public services in general, the level of education and innovation personnel training level increased significantly, into the ranks of reinvigorating China through human resource development and human resource power, basic education modernization. More jobs. The income distribution gap narrowed, the middle income group continued to expand, and the target of poverty reduction was greatly reduced. Social security covers all, and everyone enjoys basic medical and health services, the housing guarantee system is basically formed, and the social harmony and stability.(3) make every effort to increase the income of the residents. Achieve development achievements Shared by the people, must deepen the reform of the income distribution system, efforts to achieve people's income growth and economic development, increasing labor remuneration and improving labor productivity, raise the proportion of household income in the national income distribution, increase the proportion of labor remuneration in primary distribution. The first distribution and redistribution should be both efficient and equitable, and more equitable distribution. Perfect elements such as labor, capital, technology and management according to the contribution to participate in the distribution of primary distribution mechanism, speed up and improve the tax, social security and transfer payments as the main means of redistribution adjustment mechanism. We will deepen the reformof the wage system in enterprises and institutions, and implement the system of collective bargaining on wages for enterprises to protect the income of labor. We will increase the income of residents' property in multiple channels. We will regulate income distribution, protect legitimate incomes, increase income for low-income people, adjust excessively high incomes, and ban illegal income.。
6月英语六级长篇阅读文章来源及答案2014年6月英语六级长篇阅读文章来源及答案2014年6月英语六级长篇阅读文章来源及答案2014年6月英语六级长篇阅读文章来源本文选自2013年4月9日的 American Enterprise InstituteLessons from a feminist paradise on Equal Pay DayOn the surface, Sweden appears to be a feminist paradise. Look at any global survey of gender equity and Sweden will be near the top. Family-friendly policies are its norm —with 16 months of paid parental leave, special protections for part-time workers, and state-subsidized preschools where, according to a government website, “gender-awareness education is increasingly common.” Due to an unofficial quota system, women hold 45 percent of positions in the Swedish parliament. They have enjoyed the protection of government agencies with titles like the Ministry of Integration and Gender Equality and the Secretariat of Gender Research. So why are American women so far ahead of their Swedish counterparts in breaking through the glass ceiling?In a 2012 report, the World Economic Forum found that when it comes to closing the gender gap in “economic participation and opportunity,” the United States is ahead of not only Sweden but also Finland, Denmark, the Netherlands, Iceland, Germany, and the United Kingdom. Sweden’s r ank in the report can largely be explained by its political quota system. Though the United States has fewer women in the workforce (68 percent compared to Sweden’s 77 percent), American women who choose to be employed are far more likely to work full-time and to hold high-level jobs as managers or professionals. Comparedto their European counterparts, they own more businesses, launch more start start-ups, and more often work in traditionally male fields. As for breaking the glass ceiling in business, American women are well in the lead, as the chart below shows.What explains the American advantage? How can it be that societies like Sweden, where gender equity is relentlessly pursued and enforced, have fewer female managers, executives, professionals, and business owners than the laissez-faire United States? A new study by Cornell economists Francine Blau and Lawrence Kahn gives an explanation.Generous parental leave policies and readily available part-time options have unintended consequences: instead of strengthening women’s attachment to the workplace, they appear to weaken it. In addition to a 16-month leave, a Swedish parent has the right to work six hours a day (for a reduced salary) until his or her child is eight years old. Mothers are far more likely than fathers to take advantage of this law. But extended leaves and part-time employment are known to be harmful to careers — for both genders. And with women a second factor comes into play: most seem to enjoy the flex-time arrangement (once known as t he “mommy track”) and never find their way back to full-time or high-level employment. In sum: generous family-friendly policies do keep more women in the labor market, but they also tend to diminish their careers.According to Blau and Kahn, Swedish-style paternal leave policies and flex-time arrangements pose a second threat to women’s progress: they make employers wary of hiring women for full-time positions at all. Offering a job to a man is the safer bet. He is far less likely to take a year of parental leave and then return on a reduced work schedule for the next eight years.I became aware of the trials of career-focused European women a few years ago when I met a post-doctoral student from Germany who was then a visiting fellow at Johns Hopkins. She was astonished by the professional possibilities afforded to young American women. Her best hope in Germany was a government job ––prospects for women in the private sector were dim. “In Germany,” she told me, “we have all the benefits, but employers don’t want to hire us.”Swedish economists Magnus Henrekson and Mikael Stenkula addressed the following question in their 2009 study: why are there so few female top executives in the European egalitarian welfare states? Their answer: “Broad-based welfare-state policies impede women’s representation in elite competitive positions.”It is tempting to declare the Swedish policies regressive and hail the American system as superior. But that would be shortsighted. The Swedes can certainly take a lesson from the United States and look for ways to clear a path for their high-octane female careerists. But most women are not committed careerists. When the Pew Research Center recently asked American parents to identify their "ideal" life arrangement, 47 percent of mothers said they would prefer to work part-time and 20 percent said they would prefer not to work at all. Fathers answered differently: 75 percent preferred full-time work. Some version of the Swedish system might work well for a majority of American parents, but the United States is unlikely to fully embrace the Swedish model. Still, we can learn from their experience.Despite its failure to shatter the glass ceiling, Sweden has one of the most powerful and innovative economies in the world. Inits 2011-2012 survey, the World Economic Forum ranked Sweden as the world’s third most competitive economy; the United States came in fifth. Sweden, dubbed the "rockstar of the recovery" in the Washington Post, also leads the world in life satisfaction and happiness. It is a society well worth studying, and its efforts to conquer the gender gap impart a vital lesson —though not the lesson the Swedes had in mind.Sweden has gone farther than any nation on earth to integrate the sexes and to offer women the same opportunities and freedoms as men. For decades, these descendants of the Vikings have been trying to show the world that the right mix of enlightened policy, consciousness raising, and non-sexist child rearing would close the gender divide once and for all. Yet the divide persists.A 2012 press release from Statistics Sweden bears the title “Gender Equality in Sweden Treading Water” and notes: The total income from employment for all ages is lower for women than for men.One in three employed women and one in ten employed men work part-time.Women’s working time is influenced by the number and age of their children, but men’s working time is not affected by these factors.Of all employees, only 13 percent of the women and 12 percent of the men have occupations with an even distribution of the sexes.Confronted with such facts, some Swedish activists and legislators are demanding more extreme and far-reaching measures, such as replacing male and female pronouns with a neutral alternative and monitoring children more closely tocorrect them when they gravitate toward gendered play. When it came to light last year that mothers, far more than fathers, chose to stay home from work to care for their sick toddlers, Ulf Kristersson, minister of social security, quickly commissioned a study to determine the causes of and possible cures for this disturbing state of affairs.I have another suggestion for Kristersson and his compatriots: acknowledge the results of your own 40-year experiment. The sexes are not interchangeable. When Catherine Hakim, a sociologist at the London School of Economics, studied the preferences of women and men in Western Europe, her results matched those of the aforementioned Pew study. Women, far more than men, give priority to domestic life. The Swedes should consider the possibility that the current division of labor is not an artifact of sexism, but the triumph of liberated preference.In the 1940s, the American playwright, congresswoman, and conservative feminist Clare Boothe Luce made a prediction about what would happen to men and women under conditions of freedom:It is time to leave the question of the role of women in society up to Mother Nature — a difficult lady to fool. You have only to give women the same opportunities as men, and you will soon find out what is or is not in their nature. What is in women’s nature to do they will do, and you won’t be able to stop them. But you will also find, and so will they, that what is not in their nature, even if they are given every opportunity, they will not do, and you won’t be able to make them do it.In Luce’s day, sex-role stereotypes still powerfully limited women’s choices. More than half a century later, women in theWestern democracies enjoy the equality of opportunity of which she spoke. Nowhere is this more true than Sweden. And although it was not the Swedes’ intention, they have demonstrated to the world what the sexes will and will not do when offered the same opportunities.Today is Equal Pay Day. But as most feminists know by now, the wage g ap is largely the result of women’s vocational choices and how they prefer to balance home and family. To close the gap, it won’t be enough to change society or reform the workplace ––it is women’s elemental preferences that will have to change. But look to Sweden: women’s preferences remain the same.Not only feminists, but also liberal and conservative policymakers should pay attention. Sweden is not the “tax and spend” welfare state of old ––while the rest of the world is floundering in debt, Sweden (along with its Nordic neighbors) has been downsizing, reforming entitlements, and balancing its books. The budget deficit in Sweden is about 0.2 percent of its GDP; in the United States, it’s 7 percent. But Sweden’s generous family-friendly policies remain in place. The practical, problem-solving Swedes have judged them to be a good investment. They may be right.Swedish family policies, by accommodating women’s preferences so effectively, are reducing the number of women in elite competitive positions. The Swedes will find this paradoxical and try to find solutions. Let us hope these do not include banning gender pronouns, policing children’s play, implementing more gender quotas, or treating women’s special attachment to home and family as a social injustice. Most mothers do not aspire to elite, competitive full-time positions:the Swedish policies have given them the freedom and opportunity to live the lives they prefer. Americans should look past the gender rhetoric and consider what these Scandinavians have achieved. On their way to creating a feminist paradise, the Swedes have inadvertently created a haven for normal mortals.参考答案：长篇阅读 Lessons From a Feminist ParadiseJ 46. Sweden has done more than other nations to close the gender gap, but it continues to exist.I 47. Sweden is one of the most competitive economies in the world and its people enjoy the greatest life satisfaction.M 48. More American women hold elite job positions in business than Swedish women.D 49. Swedish family-friendly policies tend to exert a negative influence on women’s career.A 50. The quota system in Sweden ensures women’s better representation in government.H 51. Though the Swedish model appears workable for most American parents, it may not be accepted by them in its entirely.M 52. Swedish women are allowed the freedom and opportunity to choose their own way of life.E 53. Swedish employers are hesitant about hiring women for full-time positions because of the family-friendly policies.A 54. Gender-awareness education is becoming more and more popular in state-subsidized preschools in Sweden.C 55. Some lawmakers in Sweden propose the genderless pronouns be used in the Swedish language.【点评】我们知道瑞典是一个男女平等意识非常强的国家，这篇文章对这种平等政策带来的问题，展开了讨论。
税务英语知识点总结IntroductionTaxation is an important aspect of a country’s fiscal policy, as it is the main source of revenue for the government. Taxation involves the process of imposing charges on individuals and businesses by the government to fund public expenditures, such as infrastructure, education, healthcare, and other social services. In this summary, we will discuss various aspects of taxation, including the types of taxes, tax planning, tax evasion, and international taxation.Types of TaxesThere are several types of taxes that individuals and businesses are required to pay. Each type of tax serves a different purpose and is governed by specific rules and regulations. The main types of taxes include:1. Income Tax: This is a tax imposed on an individual's or business's income, usually calculated as a percentage of the total income earned. Income tax rates and brackets vary from country to country.2. Property Tax: Property tax is a tax levied on real estate, such as land, buildings, and other improvements. The amount of property tax is based on the value of the property.3. Sales Tax: Sales tax is a tax imposed on the sale of goods and services and is usually added to the price of the goods or services at the time of purchase. The rate of sales tax varies by jurisdiction.4. Value Added Tax (VAT): VAT is a type of consumption tax that is assessed on the value added at each stage of the production and distribution chain. It is ultimately borne by the end consumer.5. Excise Tax: Excise tax is a tax levied on certain goods, such as alcohol, tobacco, and gasoline. The tax is usually included in the price of the goods.6. Corporate Tax: Corporate tax is a tax imposed on the profits of corporations. The tax rate is usually different from the individual income tax rate.Tax PlanningTax planning involves the process of organizing one's financial affairs in a way that minimizes tax liability. There are various strategies that individuals and businesses can use to legally reduce their tax burden. Some common tax planning techniques include:1. Taking advantage of tax deductions and credits: Individuals and businesses should take advantage of all available tax deductions and credits to lower their tax liability. Deductionsand credits are available for various expenses, such as charitable contributions, mortgage interest, and education expenses.2. Retirement planning: Contributions to retirement accounts, such as 401(k) plans and IRAs, are often tax-deductible, allowing individuals to save for retirement while reducing their current tax liability.3. Estate planning: Proper estate planning can help individuals minimize estate taxes and transfer their assets to their heirs in a tax-efficient manner.4. Entity selection: Businesses should carefully consider the type of entity they want to operate as, as different types of entities are subject to different tax rules and rates.Tax EvasionTax evasion is the illegal act of deliberately avoiding paying taxes by underreporting income, inflating expenses, or hiding assets. Tax evasion is a serious offense and can result in severe penalties, including fines, imprisonment, and seizure of assets. To combat tax evasion, governments have implemented strict enforcement measures, such as audits, investigations, and penalties for non-compliance.International TaxationInternational taxation deals with the tax implications of cross-border transactions, investments, and business operations. It is a complex area of taxation that requires a thorough understanding of tax laws in different countries. Some key concepts in international taxation include:1. Double taxation: Double taxation occurs when income is taxed by two or more countries. To avoid double taxation, countries have entered into tax treaties that provide guidance on how income should be taxed and which country has the primary right to tax the income.2. Transfer pricing: Transfer pricing refers to the pricing of goods, services, and intellectual property within multinational companies. It is an important aspect of international taxation as it determines the allocation of profits among different subsidiaries of a multinational company.3. Controlled foreign corporation rules: Many countries have rules that tax the passive income of foreign subsidiaries of domestic companies, known as controlled foreign corporations. These rules are aimed at preventing the deferral of tax on passive income in low-tax jurisdictions.ConclusionIn conclusion, taxation is a complex and multifaceted area that affects individuals and businesses on a daily basis. Understanding the different types of taxes, effective tax planning strategies, the consequences of tax evasion, and the implications of internationaltaxation is essential for individuals and businesses to comply with tax laws and minimize their tax burden. By staying informed about tax laws and seeking professional advice when necessary, taxpayers can ensure that they are meeting their tax obligations while maximizing their financial resources.。
Priorities for the 2015 Federal BudgetWe sincerely thank the Standing Committee on Finance for soliciting views on the 2015 federal budget and for the opportunity to provide recommendations. The Canadian Chamber network is the largest, most broadly-based business association in Canada representing 200,000 businesses of all sizes, in all sectors of the economy and in all regions of the country. Our members create the jobs, pay the taxes, power the growth and contribute the leadership that provides the quality of life we enjoy in our country.Executive SummaryBased on extensive advice from members, the Canadian Chamber of Commerce has nine key recommendations for the 2015 federal budget, which will support prosperity, competitiveness and innovation, and which align with the government’s priority themes:Increasing the competitiveness of Canadian businesses through research, development, innovation and commercialization1.Create an “innovation box” regime that would reduce the normalcorporate tax rate for income derived from patented inventionsdeveloped in Canada.Maximizing the number and types of jobs for Canadians2.Improve the mobility and employment of skilled trades workersacross Canada by changing tax policy to address the relocation costsof skilled trades workers.3.Increase apprenticeship completions by creating a financial incentivefor those employers who retain apprentices in their third or fourthyear of training.4.Invest in labour market information to close the skills gap.5.Assess the impact of recent changes to the Temporary Foreign WorkerProgram.6.Establish a Development Finance Institution (DFI) to promote privatesector trade and investment in developing countriesEnsuring prosperous and secure communities, including through support for infrastructure7. A long-term, transparent and predictable infrastructure strategy.Improving Canada’s taxation and regulatory regimes8.Conduct a comprehensive review to create a streamlined, broad-based tax system with lower rates and fewer tax credits forindividuals and corporations.9.Push for a comprehensive internal trade agreement that is even moreambitious than our major trade agreements Recommendations:Increasing the competitiveness of Canadian businesses through research, development, innovation and commercialization1.The Canadian Chamber of Commerce recommends adopting an“innovation box” regime in Canada that would reduce the normalcorporate tax rate for income derived from developing andcommercially exploiting patented inventions and other intellectualproperty connected to new or improved products, services and relatedinnovative processes to the benefit of Canada.Canada still lags many countries in terms of total spending andcommercializing new technologies. More needs to be done, particularlywhen governments around the world are looking at adopting taxincentive regimes to encourage companies to exploit and commercializeintellectual property in their jurisdictions.A number of countries (the U.K., Belgium, Luxembourg, France, Spain,Hungary, Ireland, Switzerland and China) have adopted a “patent box”tax regime which sharply reduced the normal corporate tax rate onincome derived from the exploitation of patents. In lieu of a broad taxcredit, such as the scientific research and experimental development tax(SRED), which provides general tax relief on R&D activities, instead abusiness that created a patent or new idea in Canada would see therevenues that arose from that idea taxed at a much lower rate.An “innovation box” regime would encourage companies to locateintellectual property activity and the new high-value jobs associated with the development, of innovation in Canada. It would promote andenhance the innovation capacity of sectors that leverage science andtechnology innovations. Firms in all sectors will have a greater incentiveto adopt, commercialize or otherwise exploit the output of the R&Dprocess here in Canada.Maximizing the number and types of jobs for Canadians.2.Improve the mobility and employment of skilled trades workers acrossCanada: To fill short-term labour market needs in remote locations,companies may offer allowances or reimbursements for housing, traveland child care costs in order to attract Canadian workers. Thesepayments are considered taxable benefits for employees. In otherinstances, employers may be unable to offer sufficiently attractiverelocation packages to entice Canadian workers to move on a temporarybasis. This may be the case with small firms which are subcontractorscompeting for work on large-scale projects.While the challenges to mobility are not restricted to skilled workers, the human resource demands of projects in the resource sector suggest thatCanadian workers’ temporary relocation should be encouraged as muchas possible. Given that the government is constraining the TFW program in the hopes employers will incent Canadian worker mobility with higher wages, it is frustrating that the Crown itself opportunistically taxes these incentives. Instead, measures should be taken to overcome the costs ofskilled tradespeople relocating for short-term employment opportunities.The government should introduce a change in tax policy to address therelocation costs of skilled trades workers who would be willing to moveon a temporary basis for employment.3.Increase apprenticeship completions in the skilled trades: To addressthe large number of uncompleted apprenticeships, the governmentshould create a financial incentive for those employers who retainapprentices in their third or fourth year of training, to support the policy goal of increasing the number of certified trades workers. This incentiveshould be in addition to (and not in lieu of) the existing tax credit foremployers for their level 1 and 2 apprentices.4.Invest in labour market information to close the skills gap: The skillsgap and mismatches in Canada are challenging employers, educators and governments to respond. Unfortunately, Canadian employers andpolicymakers currently lack sufficiently granular and reliable labourmarket information (LMI) in several areas. To address these shortfalls,the government should expand the Job Vacancy Survey from the level of economic regions to the local/CMA level, wherever possible; reintroduce and upgrade the Workplace and Employee Survey; renew the Youth inTransition Survey; review and sustain the National Graduate Survey and the Five-Year Follow-up of Graduates on a longer-term basis; and ensure the Minister of Employment and Social Development, as chair of theForum of Labour Market Ministers, leads and facilitates the collectionand coordination of data from key stakeholders, among other measures.5.Temporary Foreign Worker Program: Given the major changes to theprogram in 2014, it is possible that businesses may need to retrench their operations and lay off Canadian employees if insufficient numbers offoreign workers are available to fill labour market needs. Thegovernment should assess the business and employment impacts of theprogram changes and application processing time, and instituteflexibility in particular with respect to the refusal to process certainapplications in areas of unemployment at or higher than 6 per cent, andwith respect to the per-employer cap on low-wage workers.6.Establish a Development Finance Institution (DFI) to promote privatesector trade and investment in developing countries. Every othercountry in the G-7 already has such an institution and a Canadian DFIcould work hand-in-hand with developing countries, the private sector,the Trade Commissioner Service and other government agencies toidentify opportunities for projects and support their implementationwhile retaining poverty reduction as the overarching objective. The initial capital injection would be an investment in building a new Canadianinstitution which could be leveraged to raise additional funds. To beeffective, the organization would require strong capabilities in bothdevelopment policy and private sector finance.Ensuring prosperous and secure communities, including through support for infrastructure7. A long-term, transparent and predictable infrastructure strategy. Overthe past 30 years investments in core public infrastructure have dropped off significantly. The result is that many of Canada’s roads, bridges andwater systems are collapsing. According to the Federation of CanadianMunicipalities, 30% of municipal infrastructure is at risk. Congestion isalso a major problem- some estimates place the cost to the Canadianeconomy at close to $15 Billion per year – and three of our largest cities:Vancouver, Toronto and Montreal are among the most traffic-congestedcities in North America.There is a strong correlation between infrastructure investment andproductivity: Our research has found that a sustained 10% annualincrease in infrastructure investment has the potential to reduce the costs of manufacturing by 5%.Canada needs is a long term infrastructure investment strategy that must: •Be predictable and transparent, a permanent fixture of federal expenditures much like health and public safety;•Encourage the use of asset management plans;•Increase coordination between the various levels of government and with the private sector;•Increase partnerships with the private sector where applicable;and•Focus on areas with the greatest return on economic productivity such as trade enabling infrastructure.Improving Canada’s taxation and regulatory regimes8. A comprehensive review to create a streamlined, broad-based taxsystem with lower rates and fewer tax credits for individuals andcorporations. Canada’s tax system is in urgent need of reform. It hasbecome increasingly complex, multi-layered, and a costly challenge forCanadian businesses of all sizes. The World Economic Forum’s GlobalCompetitiveness report cites tax rates and regulations as two of the topfive challenges to doing business in Canada. A streamlined and moreefficient tax regime would free up time and capital for Canadiancompanies so that they can focus on growing their business, investingand creating jobs.According to a study by the Fraser Institute, the costs of complying withthe Canadian tax system are estimated at $14 to $18 billion per year. Acomprehensive could overhaul Canada’s tax system to reduce itscomplexity by reviewing and clarifying the language used in tax law;recommending changes to existing legislation that is not achieving itspurpose or entails costs that outweigh the revenue being raised orprotected; and evaluate all tax preferences (credits, deductions,exemptions, rebates) with a view of eliminating those that are not cost effective or are not achieving their intended purpose. The increase in revenue from eliminating credits could then be used to lower rates.9.The greatest improvement to the Canadian regulatory environmentwould be a reduction in internal trade barriers. Accordingly, theCanadian Chamber of Commerce would like to see a comprehensive internal trade agreement that is no less ambitious than our major trade agreements (such as CETA/ Canada-South Korea). This agreementshould include the principal of mutual recognition so that goods and services are able to be sold between the provinces even if there are minor differences in regulations or standards. Any exception must be in the interests of consumers and should be supported by evidence-basedrationale. Provinces should work towards a common regulatoryframework to reduce costs and red tape. The agreement must betransparent and enforceable with an accessible and affordable dispute resolution mechanism.。
2020年6月英语六级阅读真题及答案2020年6月英语六级阅读真题及答案Section ADirections：In this section, there is a passage with ten blanks,You are required to select One word for each blank from a list of choices given in a word bank following the passage.Read the passage through carefully before making your choices. Each choice in the bamk is identified by aletter.Please mark the corresponding letter for each item on Answer Sheet 2 with a single line through the centre You may not use any of the words in the bank more than once.For investors who desire low risk and guaranteed income,U.S. Government bonds are a secure investment because these bonds have the financial backing and full faith and credit of the federal government.Municipal bonds,also secure,are offered by local governmengts and oftenhave____36______such as tax-free interest.Some may even be____37______.Corportate bonds are a bit more risky.Two questions often_____38_____first-time corportate bond investors.The first is”If I purchase a corportate bond,do I have to hold it until the matueity date?”The answer isno.Bonds are bought and sold daily on ____39_____securities exchanges.However,if your bond does not have____40_____ that make it attractive to other investors, you may be forced to sell your bond at a____41____i.e., a price less than the bond’s face value. But if your bond is highly valued byother investors, you may be able to sell it at a premium,i.e., a price above its face value. Bond pricesgcncrally____42____ inversely (相反地)with current market interest rates. As interest rates go up, bond pnccs tall, and vice versa (反之亦然).Thus, like all investments，bonds have a degree of risk.The second question is “How can I ___43_______ the investment risk of a particular bond issue?” Sta ndard & Poor’s and Moody’s Investors Service rate the level of risk of many corporate and government bonds. And ____44______, the higher the market risk of a bond，the higher the interest rate. Investors will invest in a bond considered risky only if the _____45_____return is high enough.注意：此部分试题请在答题卡2上作答。
深化税收征管改革的意见英文版Opinions on Deepening Tax Collection and Administration ReformThe following English translation of "深化税收征管改革的意见" is for reference only:1. Strengthening taxpayer services. Enhancing the quality of taxpayer services by optimizing service procedures, improving service efficiency, and providing convenient and accessible online platforms for taxpayers to fulfill their obligations.2. Improving tax collection and administration efficiency. Utilizing advanced information technologies, such as big data and artificial intelligence, to enhance tax risk analysis, improve tax auditing capabilities, and ensure fair tax collection and administration.3. Enhancing tax law enforcement and compliance. Strengthening law enforcement efforts, combating tax evasion, and improving the effectiveness of tax inspections. Enhancing compliance awareness among taxpayers through education and publicity campaigns.4. Expanding tax base and optimizing tax structure. Exploring new sources of taxation, promoting tax reform measures, and optimizing tax incentives to support the development of key industries, small and medium-sized enterprises, and innovation-driven enterprises.5. Promoting international tax cooperation. Strengthening international tax cooperation, actively participating in the formulation of international tax rules, and preventing tax avoidance and evasion.6. Enhancing institutional and mechanism innovation. Continuously improving the tax collection and administration system, optimizing organizational structure, and streamlining administrative procedures to create a better business environment.It is important to note that the above translation is for informational purposes only and may not reflect the official translation. For accurate and authoritative information, please refer to the original Chinese version or official government documents.。
财经专业英语词汇(V财经专业英语词汇(V-W)财经专业英语词汇(V-W)valid and subsisting bill 有效及现存的汇票valid bilateral netting arrangement 有效双边净额结算协议valid branch registration certificate 有效分行登记证valid business registration certificate 有效商业登记证valid discharge 有效责任解除valid endorsement 有效背书valuable consideration 有值代价valuation 估值；估价valuation balance sheet 估值资产负债表valuation date 估值日期valuation effect 估值效果valuation list 估价册valuation of assets 资产估值valuation report 估值报告valuation strain 估值负担value 价值value at cost 成本值value index 价值指数value index for construction works 建筑工程价格指数value of cash-sweep chances 现金彩票活动的中彩机会的价值value of cash-sweep tickets sold 现金彩票活动售出的彩票价值value of construction works 建筑工程总值value of distribution 分派价值value of export 出口货值value of gross output 总产量的价值value of import 进口货值value of property 财产的价值value of re-export 转口货值value of sum assured 承保款项值value of the consideration 代价所值value-added product 附加值产品value-added tax [vat] 增值税value-at-risk model 风险数值模式value-for-money 衡工量值；合乎经济原则；合乎经济效益；物有所值value-for-money audit 衡工量值式审计；衡工量值式核数value-for-money criterion 衡工量值的准则value-for-money study 衡工量值式研究valuer 估价员；估价师；估值师value-weighted index 价值加权指数variable 变数；变动因素variable interest investment 浮息投资variable interest securities 浮息证券variation 波动variation of contract 更改合约的条款vendor 卖方；出售人；售卖人venture capital 创业资金；风险资本venture capital fund 创业资本基金venture capital market 创业资金市埸venture company 创业公司very substantial acquisition 非常重大的收购事项vested annuity 既得年金vested estate 既得产业权vested interest 既得权益；既得利益vested liabilities 既有负债vested reversionary bonus 既得的复归红利vesting date 归属日期vesting order 归属令viability 健全性；稳健性；财政上可行性vienna stock exchange 维也纳证券交易所vietnam finance company limited 越南财务有限公司virement 转帐visible trade 有形贸易visible trade account 有形贸易帐visible trade deficit 有形贸易逆差visible trade gap 有形贸易差额volatility 波动不定；股价波动volume index 物量指数volume of business 营业总额volume of trading 交投量；交易量volume of transaction 成交额；交易量voluntarily surrender 自愿交回voluntary agreement 无偿协议voluntary chargeable agreement for sale 可予征收印花税的无偿买卖协议voluntary code 自律守则voluntary disclosure of tax evasion 自动表白逃税情形voluntary disposition 无偿产权处置voluntary liquidation 自动清盘voluntary settlement 无偿授产安排voluntary winding-up 自动清盘vote 拨款vote on account 临时拨款vote on account warrant 临时拨款令；临时支款授权书vote on supplementary warrant 追加备付款项令；追加支款授权书voting of fund 拨款voting share 有表决权股份voucher 凭单；支款凭证；付款凭证；付款凭单wage 工资waiver 宽免；豁免；放弃waiver of fees 宽免费用waiver of loan 免除还款warehouse 仓库warrant 认股权证；拨款令；支款授权书warrant exercisable 可行使的认股权证warrant exercised [listing method] 行使认股权证〔上市方式〕warrant issue prospectus 认股权证发行章程warrant stock 认股权证；认购股权证书warrant to subscribe 认购权证wash sale 虚假销售；对销交易wayfoong credit limited wayfoong finance ltd. wayward and erratic movement 反复及不正常的变动weak 疲弱；偏软weak consumer spending 消费疲弱wealth effect 财富效应weight 权数weighted average 加权平均数weighted average of exchange rate 汇率的加权平均数weighted market capitalization 加权资本市值；加权市价总值weighted mean salary 加权平均薪金weighting system of the consumer price index 消费物价指数的权数模式well-capitalized 资本雄厚wellington stock exchange 惠灵顿证券交易所west germany's commerzbank index 西德商银指数westdeutsche landesbank girozentrale 西德意志州银行〔西德银行〕western european economies of greatest reference to hong kong 与本港经济最有关系的西欧国家western industrialized economy 西方工业国家westpac banking corporation 西太平洋银行whitewashed transaction 清洗交易wholesale bank 批发银行wholesale banking 批发银行业务wholesale tax 批发税wholly-owned subsidiary 全资附属公司w.i. carr indosuez capital asia limited 惠嘉融资亚洲有限公司wider margin of variation 较大幅度的偏差width of two tax bands 两个税阶的幅度wilful evasion 蓄意逃税will 遗嘱；意愿winding-up 清盘；结束winding-up order 清盘令winding-up petition 清盘呈请winding-up proceeding 清盘程序windsor declaration 《温莎声明》wing hang bank ltd. 永亨银行有限公司wing hang finance company limited 永亨财务有限公司wing lung bank limited 永隆银行有限公司wing lung finance limited 永隆财务有限公司winnipeg commodities exchange 温尼伯商品交易所winnipeg commodity clearing limited 温尼伯商品结算有限公司with recourse letter of credit 有追索权信用证withdrawal of offer 撤回要约withholding tax 预扣税；预扣税项without-profit business 不可分红业务with-profit business 可分红业务workforce 工作人口working balance 周转余额；营运结余working capital 营运资金；周转资金working group on corporate governance [stock exchange of hong kong limited] 公司管治工作小组〔香港联合交易所有限公司〕working group on financial facilities 财政设施工作小组working group on hong kong's economic relationship with china 香港与中国经济关系工作小组working group on new market development [stock exchange of hong kong limited] 新市场发展工作小组〔香港联合交易所有限公司〕working party on financial disclosure 财务资料披露工作小组working party on payment and settlement system  支付及交收系统工作小组working population 工作人口works account 工程帐world bank 世界银行world bank group 世界银行集团world bank/international monetary fund annual meeting 世界银行／国际货币基金组织年会world competitiveness report 19xx [published by the international institute for management development and the world economic forum] 《一九ｘｘ年世界竞争力报告书》〔由国际管理发展研究所与世界经济论坛出版〕world economic forum 世界经济论坛world gold council 世界黄金协会world trade organization [wto] 世界贸易组织〔世贸组织〕worldwide profit 来自世界各地的利润wound-up company 清盘公司write back 拨回；回记write down 减记write off 注销；撇帐write up 增记written commitment 书面承担written-down value 折余价值written-down value on disposal 变卖时折余价值财经专业英语词汇(V-W) 相关内容:。
金融专业英语证书考试FECT模拟试题-7(总分100, 考试时间90分钟)SECTION ONE (Compulsory)：Answer all ten questions in this section. Each question carries 1 mark.1. Multiple-choice questions: from the following four options, select a correct and fill in its labeling the brackets.1.Assume U.S. GAAP (generally accepted accounting principles) applies unless otherwise noted. Which of the following is least likely to be classified as a financial statement element? ()A AssetB RevenueC LiabilityD Net income该题您未回答:х该问题分值: 2答案:D2.Amy, a CFA candidate, recently joined A&F Asset Management, and reports directly to Tammy. Shortly after joining the firm, Amy learned that A&F Asset Management does not have a copy of the Code and Standards. Which of the following statements best complies with AIMR Standards of Professional Conduct? ()A Amy must deliver a copy of the Code and Standards to Tammy.B Amy must notify Tammy, in writing, of her obligation to comply with the Code and Standards.C Statement A and B.D None of the above.该题您未回答:х该问题分值: 2答案:C3.Compared with an otherwise identical amortizing security, a zero-coupon bond will most likely have: ()A Less interest rate risk and more reinvestment risk.B Less reinvestment risk and more interest rate risk.C The same reinvestment risk and less interest rate risk.D The same interest rate risk and more reinvestment risk.该题您未回答:х该问题分值: 2答案:B4.A futures trader goes long one futures contract at $450. Thesettlement price 1 day before expiration is $500. On expiration day, the future is trading at $505. The least likely way the futurestrader will lock in her profits on expiration is: ()A Take delivery of the underlying asset and pay $500 to the short.B Close out the futures position by selling the futures contractat $505.C Take delivery of the underlying asset and pay the expiration settlement price to the short.D Cash settle the futures and receive the difference between $500and the expiration settlement price.该题您未回答:х该问题分值: 2答案:C5.Assume U.S. GAAP (generally accepted accounting principles) applies unless otherwise noted. Bishop Ltd. received an advanced payment of $10,000 on December 1, for rent on a property for December and January. On receipt they correctly recorded it as cash and unearned revenue. If at December 31, their year-end, they failed to make an adjusting entry related to this payment, ignoring taxes, what would the effect on the financial statements for the year be? ()A Assets are overstated by $5,000 and Liabilities are overstated by $5,000.B Liabilities are overstated by $5,000 and Net income is overstated by $5,000.C Assets are overstated by $5,000 and Owner’s equity is overstated by $5,000.D L iabilities are overstated by $5,000 and Owners’ equity isunderstated by $5,000.该题您未回答:х该问题分值: 2答案:B6.A market participant has a view regarding the potential movement of a stock. He sells a customized over-the-counter put option on the stock when the stock is trading at $38. The put has an exercise price of $36 and the put seller receives $2.25 in premium. The price of the stock is $35 at expiration. The profit or loss for the put seller at expiration is: ()A $1.25.B $1.00.C $1.25D $2.25.该题您未回答:х该问题分值: 2答案:C7.As part of an AIMR investigation into the conduct of Helen, CFA, AIMR requests records from Helen about her investment accounts. Helen writes AIMR a letter stating that under Standard IV (B.5), Preservation of Confidentiality that she is unable to comply with their request. Which of the following statement is TRUE? ()A Is correct in her interpretation of Standard IV (B.5).B Should not turn over the information because it will violatefederal material nonpublic information statutes and AIMR’s Standard V (A) Prohibit against Use of Material Nonpublic information.C Will no be in violation of Standard IV (B.5) by turning overthe requested information because under the Professional Conduct Program, the Disciplinary Review Subcommittee is considered an extension of Helen.D All of the above.该题您未回答:х该问题分值: 2答案:C8.Which of the following is the least accurate statement about the short sale of stocks? ()A The short seller must pay any dividends due to the lender of shares.B A stop buy order would enable a short seller to minimize potential losses.C Short sales involve time limits for returning the sharesborrowed to the lender.D A short sale can be made only on an uptick or a zero upticktrade if the previous trade was an uptick trade.该题您未回答:х该问题分值: 2答案:C9.The appropriate measures of free cash flow and discount rate to use when estimating the total value of a firm, respectively, are: ()A Answer A.B Answer B.C Answer C.D Answer D.该题您未回答:х该问题分值: 2答案:D10.Assume U.S. GAAP (generally accepted accounting principles) applies unless otherwise noted. An analyst gathered the following information from a company’s accounting records:The analyst’s estimate of net income for 2007 would be closest to: ()A $650,000.B $850,000.C $1,050,000.D $1,850,000.该题您未回答:х该问题分值: 2答案:CSECTION TWO(Compulsory)：Answer the questions in this section.Reading ComprehensionKammel Capital Management is an institutional money manager that oversees over $12 billion in client assets. Most of its assets under management are invested in the Kammel Funds, a family of 12 mutual funds encompassing 9 growth and value equity funds, and 3 fixed income funds.Linda Karazim is an analyst for the Kammel Strategic Income Fund, a flexible fixed-income fund benchmarked to the Lehman BrothersAggregate Index. The fund owns a substantial portion of subordinated debentures that were issued by Gernot Incorporated to finance the acquisition of a major competitor in 2002. Karazim has been assigned by the Strategic Income Senior Portfolio Manager, Mark Davidson, to analyze the subordinated debt of Gernot, Inc.Karazim decides that the best way to assess the credit quality of the Gernot’s bonds is to analyze the firm’s financial statements and calculate ratios that will identify trends in the firm’s operations and financing decisions. Karazim searches online and pulls up Gernot’s financial statements for the last three years. The statements Karazim uses for her analysis are shown below:As Karazim is working on her project, Jacob Cannon, an analyst for Kammel’s Large Cap Growth Fund, stops by Karazim’s office to chat. When Karazim tells him that she is working on a ratio analysisproject to assess Gernot Inc.’s subordinated debt, Cannon tells her that Kammel’s growth equity team is potentially looking to purchase Gernot’s stock for their fund. Karazim tells Cannon that the return on assets ratio that she has calculated for evaluating Gernot’s debt rating would also be considered one of the most effective ratios for use in valuing Gernot’s stock. Cannon replies that he has been doing his ow n ratio analysis to assess Gernot’s systematic risk and one of the most useful ratios for identifying relationships between accounting variables and beta is the current ratio, which would also be useful in forecasting the possibility of Gernot, Inc. going bankrupt.After Karazim completes her analysis, she has a meeting with Davidson to discuss her findings. At the meeting, Karazim tells Davidson that Gernot’s Inc.’s sustainable growth rate based on 2004 data is 9 percent, and that a growing company has a much lower chance of defaulting on its debt. Davidson, always critical of the work of the analysts that work for him, concludes the meeting by telling Karazim that she did good work, but one of the major limitations of the cross-sectional analysis she has performed is that comparisons are made difficult due to different accounting treatments.11.What are Gernot’s total asset turnover for 2004 and the change in the ratio from 2002 to 2004? ()2004 Ratio Change in RatioA 2. 08 decline of 0.18B 1 .52 decline of 0.56C 2.08 increase of 0.18D 1.52 increase of 0.56该题您未回答:х该问题分值: 2答案:BThe total asset turnover ratio = sales/assets. In 2002, the ratio was (10,424/5,012) = 2.08. In 2004, the ratio was (11,606/7,636) = 1.52. From 2002 to 2004 the ratio declined by (2.08 – 1.52) = 0.56.12.What is the change in Gernot Inc.’s cash conversion cycle from 2003 to 2004? The cash conversion cycle has: ()A Increased by 17 days.B Increased by 33 days.C Increased by 25 days.D Decreased by 13 days.该题您未回答:х该问题分值: 2答案:CThe cash conversion cycle = (average receivables collection period) + (average inventory processing period) – (payables payment period).For 2003: Receivables turnover = (sales/average receivables) = 11,718/((625+798)/2) = 11,718/712 = 16.46 Average receivables collection period = (365/receivables turnover) = 365/16.46 = 22.17days Inventory turnover = (COGS/average inventory) =7183/((1342+937)/2) = 7183/1140 = 6.3 Average inventory processing period = (365/inventory turnover) = 365/6.3 = 57.94 days. Payables turnover = (COGS/average payables) = 7183/((620 + 544)/2) = 7183/582 = 12.34 Payables payment period = (365/12.34) = 29.58 days 2003 cash conversion cycle = 22.17 + 57.94 – 29.58 = 50.53 days. For 2004: Receivables turnover = (sales/average receivables) =11,606/((1294+798)/2) = 11,606/1046 = 11.10 Average receivables collection period = (365/receivables turnover) = 365/11.10 = 32.88 days Inventory turnover = (COGS/average inventory) =7150/((1342+1552)/2) = 7150/1447 = 4.94 Average inventory processing period = (365/inventory turnover) = 365/4.94 = 73.89 days. Payables turnover = (COGS/average payables) = 7150/((620 + 597)/2) = 7150/609 = 11.74 Payables payment period = (365/11.74) = 31.09 days 2004 cash conversion cycle = 32.88 + 73.89 – 31.09 = 75.68 days. From 2003 to 2004, the cash conversion cycle increased by (75.68-50.53) = 25.15 days.13.Karazim has noted in her analysis that Gernot Inc.’s return on equity has fallen significantly from 2002 to 2004. Using the extended DuPont system, which of the following components had the most impact on Gernot’s ROE decline? ()A Financial leverage multiplier.B Operating profit margin.C Interest coverage ratio.D Tax retention rate.该题您未回答:х该问题分值: 2答案:DFrom 2002 to 2004, ROE declined from (328/1575) = 20.8% to (304/2292) = 13.3%.The extended DuPont formula states that ROE = [(operating profit margin)(total asset turnover) – (interest expense rate)](financial leverage multiplier)(tax retention rate)For 2002:Operating profit margin = (EBIT/sales) = (513 + 147)/10,424 = 0.0633 = 6.33%.Total Asset Turnover = (sales/assets) = 10424/5012 = 2.08xInterest Expense rate = (interest expense/assets) = 147/5012 = 2.93%Financial leverage multiplier = (assets/equity) = 5012/1575 = 3.18Tax retention rate = (1-tax rate) = 1 – (185/513) = 1 – 0.36 = 64%.For 2004:Operating profit margin = (EBIT/sales) = (516 + 340)/11,606 = 0.0738 = 7.38%.Total Asset Turnover = (sales/assets) = 11,606/7,636 = 1.52xInterest Expense rate = (interest expense/assets) = 340/7,636 = 4.45%Financial leverage multiplier = (assets/equity) = 7,636/2,292 = 3.33Tax retention rate = (1-tax rate) = 1 – (212/516) = 1 – 0.41 = 59%.Since the operating profit margin and the financial leverage multiplier both increased, these did not have an adverse impact on the ROE. The interest coverage ratio is not part of the DuPont formula. The only viable answer is the tax retention rate, which, in fact did decline significantly.14.Regarding Karazim’s conversation with Cannon regarding the most useful ratios for various tasks: ()A Karazim’s statement is incorrect; Cannon’s statement is incorrect.B Karazim’s statement is incorrect; Cannon’s statement iscorrect.C Karazim’s statement is correct; Cannon’s statement is correct.D Karazim’s statement is correct; Cannon’s statement isincorrect.该题您未回答:х该问题分值: 2答案:BAlthough return on assets is one of the ratios that bond agenciesrely on heavily for deriving their debt ratings, it is not one of the ratios that is deemed most useful for stock valuation, therefore Karazim’s statement is incor rect. Return on equity, (not ROA), is a ratio that is deemed to be very effective for both stock valuation and determining credit ratings.Cannon’s statement is correct – the current ratio is considered to be one of the most effective ratios for both determining systematic risk (beta) based on accounting variables and for forecasting bankruptcy.15.Karazim decides to enhance her analysis by creating common size statements for Gernot, Inc. Which of the following statements is CORRECT? A common size balance sheet expresses all balance sheet accounts as a percent of: ()A Total assets and a common size income statement expressallitems as a percentage of net income.B Sales and a common size income statement expressall items as a percentage of net income.C Sales and a common size income statement expressall items as a percentage of total assets.D Total assets and a common size income statement expressallitems as a percentage of sales.该题您未回答:х该问题分值: 2答案:DCommon size statements normalize balance sheet items by expressing each item as a percentage of total assets, and normalize income statements by expressing each item as a percentage of sales. Using common size statements allows the analyst to make easier comparisons of different sized firms.Explanations of terms：(10 points)1. Legal tender：The status of legal tender simply means that coins and paper currency cannot lawfully be refused in payment for goods and services and in discharge of debts.2. Double-entry bookkeeping：Bookkeeper debits the transaction to one account and credits it to another bill of exchange: A non-interest-bearing written order used primarily in international trade that binds one party to pay a fixed sum of money to another party ata predetermined future date.3. Arbitrage pricing theory：An equilibrium model of assetpricing that states that the expected return on a security is alinear function of the security’s sensitivity to various common factors.4. Soft law：Quasi-legal instruments which do not have anylegally binding force, or whose binding force is somewhat "weaker" than the binding force of traditional law, often contrasted to soft law by being referred to as "hard law".5. Gold markets：According to its nature and the influence on the entire world gold transaction, gold market may be divided into leading market and regional market. According to the difference of transaction type and the transaction way, gold market may be divided into spot transaction and future transaction.Following international experiences, gold market participants include; gold enterprises, banks, hedge funds, organizations and personal investors, broker companies and the exchanges.Factors that Affect Gold Market are the quantity change of structure of supply and demand, economic factors and political situation and unexpected significant events.There are many different ways to invest in gold, such as gold futures, gold exploration companies, blue-chip gold mining stocks, gold mutual funds, gold bars, gold bullion and gold coins. Explanations of terms：16.Legal tender该题您未回答:х该问题分值: 617.Double-entry bookkeeping该题您未回答:х该问题分值: 618.Arbitrage pricing theory该题您未回答:х该问题分值: 619.Soft law该题您未回答:х该问题分值: 620.Gold markets该题您未回答:х该问题分值: 6Question and Answer21.What is the Theory of Money Supply by the Monetarist School?该题您未回答:х该问题分值: 10答案:Friedman held that money demand is relatively stable and money supply must be guaranteed stable, too, if there should be equilibrium between money demand and money supply. So Friedman opposed the management of the aggregate demand raised by Keynes and focused on the importance of money supply.According to the Monetarist School, the core of economic policies is placed on monetary policy, which should be the only important wander-working among all economic policies. Without monetary policy, other economic policies can’t achieve their anticipated effect.Friedman assumed that the best choice in controlling money supply was the "single rule" of monetary policy, i. e. , making it known to the public to adapt a fixed increasing rate of money supply, excluded other factors, such as interest rates, credit flow, excess reserves on a voluntary basis, and so on. So monetary policy should just take a certain money stock as the only decisive factor. In order to carry out the "single rule”, three problems should be solved; the first is how to define the scope of the aggregate money supply; the second is how to decide the increasing rate of money supply and the third is whether or not fluctuation of the increasing rate of money supply is allowed during a certain period, a year or a season. The solution to the above problems is as follows; firstly, M2 should be the scope of the aggregate money supply; secondly, the increasing rate of money supply should be suited to economic growth rate and thirdly, it couldn’t be changed at will when the increasing rate of money supply had been decided. If there is need for change of the increasing rate of money supply, it should be announced and the band of fluctuation should be as small as possible.22.Explain the Open Market Operations.该题您未回答:х该问题分值: 10答案:The most widely used instrument of monetary policy is open market operations. Open market operations involve the purchase of securities by a central bank to put additional reserves at the disposal of the banking system or the sale of securities to reduce reserves so that money supply can be altered. Open market operations are the bread-and-butter instrument of Federal Reserve policy in U. S.Because the central bank earns interest income from itssecurities portfolio, the total revenues earned by the central bank vary in direct proportion to the magnitude of its portfolio. However, this consideration plays no role in the central bank’s decision to acquire or sell securities. Indeed, if it did, the central bank could not perform the chief function of a central bank—conducting monetary policy in a way that contributes to the stability of aggregate expenditures and economic activity.Suppose the U. S. economy is encountering excessive aggregate demand and escalating inflation. The central bank is therefore intent on implementing a policy of monetary restraint. In that event, the central bank would sell securities on the open market. Assume that the central bank sells $225 million in U. S. Treasury bills to a government securities dealer, receiving payment via a check written against the dealer’s bank checking account. When the central bank receives the check, it "collects" by debiting the reserve account of (making a bookkeeping entry against) the dealer’s commercial bank and returns the check to that bank. Upon receipt of the check, the commercial bank debits the dealer’s demand deposit account. The relevant balance sheets exhibit the following changes.23.(1) State the difference between a documentary credit and a documentary collection.(2) Why is a documentary credit arrangement important to an exporter?(3) What is the difference between a revocable credit and an irrevocable credit?该题您未回答:х该问题分值: 10答案:(1) A documentary credit is a written undertaking by a banker who is the agent fro the importer or the buyer. The function of a documentary collection is to provide both importer (buyer) and exporter (seller) with a compromise to settle their tradetransactions between payment in advance and on open account terms.The parties involved in a documentary credit arrangement include issuing banker, advising banker, the applicant and the beneficiary. Parties involved in a documentary collection include the drawer (exporter or seller), the remitting bank, the collecting bank and the drawee (importer or buyer). .Their processes are different.(2) In accordance with the instructions of the importer, the bank undertakes to pay the exporter, up to a limit, within a designated time period and against any stipulated terms and documents.The credit created for international settlement among banks not only provides a sense of security for the traders involved , but alsoa reliable source of finance for foreign trade where required .(3) A "revocable credit" may be cancelled at any time up to the moment the advising bank pays. This type of credit is the least favorable to the exporter.An irrevocable credit may not be amended or even cancelledwithout the consent of all the parties involved. This type of credit guarantees payment to the beneficiary, provided that the credit terms and conditions are met.24.What are the Countering Financial Abuse and Crime? What Others Are Doing?该题您未回答:х该问题分值: 10答案:(1) Since the late 1980s, the growing concerns about drug trafficking and the uses made of globalization facilitated by the advancements in communication technology have led to direct and indirect approachesby different international institutions and the international community to combat financial crime and money laundering.(2) The FATF and affiliated regional organizations lead the international efforts in directly combating money laundering. Members of the FATF engage in annual self-assessments and in periodic mutual evaluations of members’ anti-money laundering efforts. In June 2000, the FATF identified 15 non-member jurisdictions that it considers as "non-cooperative with international efforts against money laundering". Since the FATF is a voluntary task force and not a treaty organization, its recommendations do not constitute a binding international convention.Fund staff has participated, as observers, in most FATF plenaries since 1980. At the request of the FATF, Fund staff made a statementat the Junel996 FATF Plenary on the macroeconomic impact of money laundering, and the Managing Director made a statement at theFebruary 1998 FATF plenary. The FATF has recently agreed to share results from their exercises with Fund staff conducting financial assessments, in the context of FSAP and OFC assessments. At a recent IMF Executive Board meeting, the possibility was raised that the FATF could be invited to prepare ROSC modu les on Fund members’ observance of the FATFs Forty Recommendations. Some members of the FATF have asked that the Fund’s Article IV"? Surveillance and program conditionally include anti-money laundering considerations. The FATF President, in a letter to Fund management, suggested that the FATF Forty Recommendations be adopted as the anti-money laundering standard.(3) Other direct efforts to counter financial crime are undertaken mainly by the International Criminal Police Organization (Interpol) and national financial intelligence units (FIUs). The United Nations takes part in the direct efforts through the United Nation’s Office for Drug Control and Crime Prevention Global Program against Money Laundering (UNDCCP), which monitors weaknesses in global financial systems and assists countries in criminal investigations.Recently, the international community’s awareness of financial system abuse has been heightened by the work of the FSF. In May 2000, the FSF classified 42 OFCs into three groupings, and called on the Fund to take the lead in assessing OFCs adherence to internationally accepted standards and codes.(4) Indirect efforts to counter financial system abuse focus on the preconditions for the proper functioning of financial systems and the formulation and enforcement of relevant laws. These efforts encompass general standards for the supervision and regulation of banks, securities markets, and insurance, as incorporated in the standards developed by the Basel Committee, the IOSCO, and the IAIS. The substance of relevant FATF recommendations is incorporated in the principles of supervision of the Basel Committee and other international supervisory standard-setters.(5) Banking, insurance, and securities markets supervisors are involved in both indirect and direct efforts to combat financial system abuse. Supervisors in different countries exchange information (often based on a network of memoranda of understandings) about individual banks, insurance companies, or agents in the securities markets, with a view to uncover unsound and illegal activities such as securities fraud, insider trading, or misreporting. Supervision is also exercised over the internal mechanisms to control risks, particularly operational risks, which also contributes to countering fraud and other forms of financial crime.(6) Out of concern over the potential impact of tax-induced distortions in capital and financial flows on welfare and on individual countries tax bases, the OECD initiated coordinated action for the elimination of harmful tax practices. In May 1998, the OECD issued a report on Harmful Tax Competition including a series of 19 recommendations for combating harmful tax practices, established aForum on Harmful Tax Practices, and proposed Guidelines for Dealing with Harmful Preferential Regimes in Member Countries (Annex II). In June 2000, OECD issued a list of countries it considers as engaged in harmful tax practices.。
ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENTFORUM ON TAX ADMINISTRATION:COMPLIANCE SUB-GROUPFinal reportMonitoring Taxpayers’ Compliance:A Practical Guide Based onRevenue Body Experience22 June 2008CENTRE FOR TAX POLICY AND ADMINISTRATIONTable of ContentsPages Summary 5 Background 6 I Introduction 8The compliance risk management process 8 Monitoring taxpayers’ compliance 913Key issues and concepts in monitoring taxpayers’ compliance and evaluating theperformance of revenue bodiesII Developing a comprehensive compliance monitoring framework 20 Why have a compliance monitoring framework? 20 What is a compliance monitoring framework in practical terms 20 The scope and nature of compliance monitoring activities 22 Developing a compliance monitoring framework 25III Compliance monitoring—practical measures and indicators 26 Direct measures of taxpayers’ compliance 26 Indicators used in a tax compliance context 26 All compliance obligations—researching and presenting the full view of compliance 27 IV Bringing it all together—an illustrative compliance monitoring framework 34 V Conclusions and recommendations 37 Annexes1 Monitoring Taxpayers’ Compliance—What Oversight Authorities Have Said3942 2 Measuring the Performance of Public Sector Agencies: Definitions of Some Widely-UsedTerms3 The Non-observed Economy 434 Canada Revenue Agency: Compliance Monitoring Report 475 Compliance Measures and Indicators Used by Revenue Bodies 486 Country Approaches and Experiences to Overall Tax Gap Measurement 647 US IRS: Implementation of the National Research Program698 Swedish Tax Agency: Measurement of the Informal Sector759 UK HMRC: Measuring Aggregate VAT Revenue Losses 77 Tables1 Examples of methods for assessing risk treatment impacts and program effectiveness 192 Summary and description of compliance measures used by revenue bodies 283 Summary and description of compliance indicators used by revenue bodies 314 An illustrative compliance monitoring framework for a revenue body 36Boxes1 HMRC: Compliance monitoring of small and medium-sized companies and employers 112 Trends in public sector accountability reporting 143 Estimates of the non-observed economy and National Accounts Declaration of the18ISWGNA—January 20064 Checklist for assessing effectiveness-related indicators 345 What is the non-observed economy? 43Figures1 The Compliance Risk Management Process 82 Management levels of compliance measurement 103 Tax compliance program logic 134 Understanding the tax gap 165 Conceptual view of a comprehensive compliance monitoring framework 26ABOUT THIS DOCUMENTPurposeThis guidance note has been prepared to assist member revenue bodies advance their thinking and practices concerning the monitoring of taxpayers’ compliance with the tax laws and to generally promote discussion among Forum members on this important strategic tax administration issue.Background to the Forum on Tax AdministrationSince its establishment in July 2002, the Forum on Tax Administration (FTA), a subsidiary body of the OECD’s Committee on Fiscal Affairs (CFA), has operated with the broadly stated mandate ……….to develop effective responses to current administrative issues in a collaborative way, and engage in exploratory dialogue on the strategic issues that may emerge in the medium to long term………To carry out this mandate, the FTA’s work is directly supported by two specialist Sub-groups—Compliance and Taxpayer Services—that each carry out a program of work agreed by member countries. The Compliance Sub-group exists to provide a forum for members to:•periodically monitor and report on trends in compliance approaches, strategies and activities;•consider and compare member compliance objectives, the strategies to achieve those objectives and the underlying behavioural compliance models and assumptions beingused;•consider and compare member compliance structures, systems and management, and staff skills and training; and•develop and maintain papers describing good country practices as well as develop discussion papers on emerging trends and innovative approaches.Cavea tNational revenue bodies face a varied environment within which to administer their taxation system. Jurisdictions differ in respect of their policy and legislative environment and their administrative practices and culture. As such, a standard approach to tax administration may be neither practical nor desirable in a particular instance.The documents forming the OECD tax guidance series need to be interpreted with this in mind. Care should always be taken when considering a country’s practices to fully appreciate the complex factors that have shaped a particular approach.Inquiries and further informationInquiries concerning any matters raised in this information note should be directed to Richard Highfield (CTPA Tax Administration and Consumption Taxes Division) at e-mail (Richard.highfield@).4SummaryThis guidance note has been prepared to assist member revenue bodies advance their thinking and practices concerning the monitoring of taxpayers’ compliance with the tax laws and to generally promote discussion among Forum members on this important strategic tax administration issue.Revenue bodies have a responsibility to report on their performance in accordance with the expectations of the Government of the day and the parliament. While the scope and nature of these responsibilities varies from country to country, there is a trend in public sector administration for agencies to be required to report more fully and comprehensively on the outcomes and impacts of Government programs. For revenue bodies, this increased focus on the reporting of outcomes and impacts resulting from their activities calls into consideration aspects of taxpayers’ compliance and the impact of administrative efforts to improve voluntary compliance by taxpayers with tax laws. This is a complex area for all revenue bodies, particularly given the difficulties inherent in producing accurate and reliable estimates of taxpayers’ reporting compliance across the major taxes. The research carried out for the preparation of this note revealed that relatively few revenue bodies can claim to have a comprehensive approach.Cognisant of the need for improved methods and tools for monitoring taxpayers’ compliance and evaluating the impact of initiatives to improve taxpayers’ compliance, the Forum on Tax Administration’s Compliance Subgroup has embarked on work to update members’ knowledge of leading practices in this field and to advance ideas for developing new approaches. This note is the first of a number that will explore such topics.This note focuses on the development of measures and indicators of compliance and their role in monitoring taxpayers’ compliance at the aggregate level. Drawing largely on the experience of a small number of member countries, it promotes the idea that each revenue body should have in place a compliance monitoring framework. Such a framework should include, to the extent practicable, a set of measures and indicators for the major risk types across each of the major taxes administered. Ideally, this should include a range of indicators that reflect taxpayers’ attitudes to, and perceptions of, tax compliance that over time may point to changes in taxpayers’ behaviour, of either a positive or negative nature.The note includes practical examples of compliance-related measures and indicators from a variety of countries that can be used as part of such a framework, although it acknowledges that some of the measures and indicators given as examples are subject to various qualifications and limitations and, therefore, cannot be viewed as absolutely precise/fully reliable measures of compliance or non-compliance. Where such measures are used, especially in the public domain, the note suggests they should be accompanied by clear statements as to the limitations pertaining to their accuracy.Finally, the note acknowledges that what is practicable in terms of an envisaged compliance monitoring framework will vary from country to country and that for some revenue bodies it may require some time to develop a comprehensive approach.Recommendations•Recognising their important planning and accountability requirements, revenue bodies in member countries are encouraged to improve their understanding of taxpayers’ compliance and theeffectiveness of their compliance improvement programs by developing a compliance monitoring framework (if one is not already in place). Such a framework, which can be progressively enhanced over time, should embody a range of measures and indicators for each of the major risk types forthe major taxes administered by the revenue body, drawing on the ideas, approaches and practical examples provided in this note and other measures and indicators deemed useful by them.•In line with the practice of revenue bodies in a small number of countries, revenue bodies are encouraged to document and publish their approaches (and where applicable, any relatedqualifications and limitations concerning the approaches adopted) and the results of theirmonitoring efforts in this area to promote greater dialogue, understanding and exchanges ofexperience among national revenue bodies.5Monitoring Taxpayers’ Compliance:A Practical Guide Based on Revenue Body ExperienceBackground1The OECD’s Committee on Fiscal Affairs has released a number of papers on topics related to the monitoring of taxpayers’ compliance.2The practice note ‘Risk Management’ issued in 1997 provided a generalised explanation of the concept of risk management and its relevance in a tax administration context.3The practice note ‘Compliance Measurement’ issued in May 2001 (amended version) introduced a number of issues relevant to defining compliance and provided a brief synopsis of the work doneon measuring taxpayers’ compliance. It sought to encourage discussion and further research intothe topic of measuring tax compliance (or non-compliance), especially in the large corporate sector.4The guidance note ‘Compliance Risk Management:Managing and Improving Tax Compliance’ prepared by the FTA and released in October 2004described (and sought to promote) the conceptof compliance risk management as an essential management tool for revenue bodies and gave amore elaborated description of practical approaches that could be adopted by national revenuebodies. A key element of the recommended compliance risk management process was acompliance measurement framework that would provide revenue bodies with a range ofcompliance indicators that could be used to monitor and evaluate the impacts of their complianceactivities (i.e. programs covering service, education, verification and enforcement activities). Whilethe note singled out in high level terms the major categories of compliance risk faced by all revenuebodies (i.e. taxpayer registration, return filing, correct reporting, and tax payment) and providedsome illustrative examples of indicators, it did not provide any practical guidance to members onthe most appropriate set of indicators (and underlying measurement methodologies) that could beused as part of the measurement framework, it being considered necessary to carry out a furtherwork with member countries.5The information note ‘Compliance Risk Management: Use of Random Audit Programs’ prepared by the FTA and released in October 2004described country approaches and experiences with theuse of random audit programs for a range of tax compliance-related purposes, including overallmeasures of taxpayers’ compliance.6Since October 2004, a number of activities have been undertaken to explore the topic andsystematically gather information from member countries on their approaches to monitoringtaxpayers’ compliance and the measures and indicators being used to gauge the impacts of theircompliance activities.7At a meeting of tax commissioners from selected countries in January 2005, the topic ofcompliance measurement and evaluation was the subject of special discussion.1 The key pointsmade by Commissioners were as follows:•The practice to date across revenue bodies has largely been to report on complianceoutputs (e.g. audit results, debts collected) rather than ‘outcomes’, thus reflecting adeficiency in agency reporting arrangements;•Accountability requirements and strategic compliance management considerations dictatethe need for a comprehensive set of practical outcome-related measures on aspects of taxcompliance;1 Meeting of the former OECD body ‘Tax Administration Advisory Board’, January 2005, Phoenix, USA.6•The focus of this work should not be just aggregate measures (which are more complex);the issues in practice are far more dynamic and other measures are called for; and•Subject to progress being made, the wide adoption of a set of practical measures could facilitate benchmarking across countries and assist administrations in meeting theiraccountability obligations.8In May 2005, the Canada Revenue Agency hosted a workshop of representatives from nine countries—Australia, Canada, France, Japan, Netherlands, New Zealand, Sweden, United Kingdom and the United States—and the OECD Secretariat to discuss individual country experiences andapproaches and to examine the feasibility of developing a few key indicators of compliance based on common methodologies. The results of this workshop and a number of case studiessubsequently provided by participating countries were described in a report released (on arestricted basis) in February 2006.2 The report of the workshop noted that while none of theparticipating countries had a comprehensive set of statistically reliable direct measures of taxcompliance, several countries had a range of measures that provided a reasonably good sense ofreturn filing, correct reporting, and/or payment compliance for a significant segment of theirtaxpayer population. Among other things, it noted the value of further collaboration to identifystatistically robust measures of compliance for strategic and resource allocation purposes.9During 2006, members of the Forum’s Compliance Subgroup gave further consideration to this matter and agreed that work should be carried out via the Secretariat working with membercountries to further research the topic. The agreed terms of reference for this work foreshadowed the development of a set of the main measures and indicators (and associated methodologies)being used by member countries to monitor taxpayers’ compliance, with the primary focusbeing on the identification of aggregate measures/ indicators to reflect absolutemeasures of compliance for the major compliance risk types. This note is the product of this work and its completion has been greatly assisted by revenue bodies in member countries, in particular Australia, Canada, Netherlands, Sweden, United Kingdom, and United States.The structure of this note10This note is structured along the following lines:•Part I: Introduction•Part II: Developing a comprehensive compliance monitoring framework•Part III: Compliance monitoring—practical measures and indicators•Part IV: Bringing it all together—an illustrative compliance monitoring framework•Part V: Conclusions and recommendations•Various annexes with related information.2See ‘Forum on Tax Administration: Compliance Subgroup Workshop on Compliance Measurement and Evaluation’(CTPA/CFA/FTA/BUR(2006)2.78I. IntroductionThe compliance risk management process11 The guidance note ‘Compliance Risk Management: Managing and Improving Tax Compliance ’describes a process for the identification, assessment, prioritization, and treatment of compliance risks, and the monitoring and evaluation of the impacts of treatment strategies as part of a revenue body’s strategic management process (see Figure 1). The objective of this note was to encouragerevenue bodies in member countries to adopt a more systematic and disciplined approach to compliance risk management that could be used to:•guide and inform planning of compliance improvement activities across a revenue body; •providing a defensible approach that could be used to inform key stakeholders (e.g. the Government and external audit bodies); and • demonstrate a high level of accountability for improved revenue body outcomes. Assess and prioritise risks Analyse compliance behaviour (causes, options for treatment)Determine treatment strategies Plan and implement strategies Identify risks Monitor Operating Context Evaluate Assess and prioritise risksAnalyse compliance behaviour (causes, options for treatment)Determine treatment strategiesPlan and implement strategiesIdentify risksMonitor performance against planperformance against plan Operating Contextcompliance outcomes •Registration •Filing•Reporting•Payment 12 Since the release of the original guidance note an increasing number of revenue bodies have started to strengthen their focus on the management of tax compliance risks by adopting more systematicand holistic approaches along the lines outlined in the guidance note.13This guidance note focuses principally on those parts of the model process dealing with ‘Evaluate compliance outcomes’ and ‘Monitor performance against plan’, it being acknowledged that theForum’s 2004 guidance note gave only limited guidance to these specific aspects of the overall approach being recommended.Monitoring taxpayers’ compliance?What do we mean by taxpayers’ compliance?14In an ideal world, all citizens and businesses would satisfy their obligations under the tax law to register where specifically required, and to voluntarily declare and pay on time their tax liabilities, all calculated fully and accurately in accordance with the law. This statement encapsulates fourbasic tax compliance obligations of citizens and businesses that generally speaking must beadministered by all revenue bodies in accordance with their respective tax laws:•To register for tax purposes3;•To file tax returns on time (i.e. by the date stipulated in the law) or at all;•To correctly report tax liabilities (including as withholding agents);4 and•To pay taxes on time (i.e. by the date stipulated in the law).15While a country’s tax laws generally contain other compliance obligations (e.g. the obligation of specified third parties to report details of income paid to employees, investors etc,), these are allsubservient to the four basic obligations described in paragraph 14. This guidance note dealsprimarily with compliance monitoring as it relates to these four obligations.16Compliance by taxpayers with these basic obligations can also be viewed in terms of whether such compliance is achieved voluntarily (i.e. voluntary compliance) or corrected by verification/enforcement actions carried out by the revenue body (i.e. enforced compliance).5 In a taxadministration context, this distinction is highly relevant as ‘enforced compliance’ has a cost, and very often a significant one. 6 In line with their overriding goal and mission, all revenue bodiesshould be aiming to improve the overall level of ‘voluntary’ compliance and, by definition, rely less on ‘enforced’ compliance. This distinction is reflected later in this note when discussing the issue of the ‘tax gap’ and specific compliance indicators.17Other terms often used in a tax ‘compliance’ or ‘non-compliance’ context are ‘tax evasion’ and ‘tax avoidance’ or ‘unacceptable tax minimisation arrangements’. For the purposes of this note theseterms have no particular relevance other than to say that they represent particular types of non-compliance behaviour that contribute to the total revenue leakage from all non-compliance.Why monitor taxpayers’ compliance?18The rationale for monitoring taxpayers’ compliance derives from the primary goal of revenue bodies which is to improve overall compliance with tax laws. As stated in the guidance note‘Compliance Risk Management:Managing and Improving Tax Compliance’ (page 7):“The primary goal of a revenue authority is collect the taxes and duties payable in3Some revenue bodies do not separately identify/ monitor this obligation as the implication of non-registration is encapsulated in the requirement to file tax returns.4The prior note ‘Compliance Measurement’ suggested that for definitional purposes it was useful to divide compliance into two categories—‘administrative compliance’ and ‘technical compliance’. Concerning the latter, readers are directed to this note for discussion on the issues of ambiguity/ uncertainty concerning the questionable positions sometimes taken by taxpayers on technical issues and whether or not this constitutes compliant behaviour.5A further dimension to enforced tax compliance is “motivation”. In other words, should “intention of the taxpayer” be a relevant factor in defining and measuring compliance? In line with previous comments on this aspect- see { }, this note takes the view that non-compliance results from a variety of behaviours—both deliberate and non-deliberate in nature—and the activities of revenue bodies should be designed to detect and deter all forms of non-compliant behaviour, with the various measures and indicators of compliance used to reflect the overall success (or otherwise) of the revenue body’s activities.6Staff usage data from national revenue bodies (see OECD series ‘Tax Administration in OECD and Selected Non-OECD Countries (2006)’ reveals that many allocate over 40% of their staffing budgets to enforcement activities.9accordance with the law and to do this in such manner that will sustain confidencein the tax system and its administration. The actions of taxpayers — whether due to ignorance, carelessness, recklessness, or deliberate evasion — as well as weaknesses in a tax administration mean that instances of failure to comply with the law are inevitable. Therefore, taxadministration should have in place strategies and structures to ensure that non-compliance with tax law is kept to a minimum.”19Implicit in this statement is a notion that revenue bodies have in place activities to monitor and report, to the extent practicable, on the effectiveness and efficiency of their complianceimprovement strategies for internal management purposes. Revenue bodies also have an obligation to account for their performance to a range of external stakeholders (e.g. Government andgovernment auditing bodies), as well as the general taxpayer population that has an expectation that the tax system will be administered fairly and competently. The research carried out for the preparation of this note revealed, among other things, that government auditing bodies areincreasingly calling for improved measurement, evaluation, and reporting of compliance outcomes.A sample of such comments is provided in Annex 1.20The implicit requirement to monitor and report on taxpayers’ compliance operates at a number of levels, serving strategic, operational, and tactical management needs. These levels are depicted in Figure 2 and elaborated in the comments that follow.21At the ‘whole of tax system’ level, compliance monitoring relates to the objective of having a comprehensive set of measures and indicators for all taxes that reflect on the performance of the overall tax system and its administration from a tax compliance viewpoint. This may include, but does not specifically require, estimates/measures of the overall tax gap (i.e. the total amount of tax not collected resulting from all forms of non-compliance for all taxes administered by a revenue body in a particular fiscal period). The US IRS’s National Research Program described in Annex 5 is one example of research efforts directed to producing ‘whole of tax system’ level estimates. (More is said on overall tax gap measurement at paragraphs 67 et seq. and in Annexes 6 and 9.22Depending on the relevance and comprehensiveness of the information available, such information reflects on the “general health” of the tax system and can serve a number of purposes:a)To account to Government by the revenue body for its stewardship of the tax system;b)To indicate the trend, composition and likely direction of overall non-compliance with thetax laws, and thus the degree of urgency for any remedial action that may be needed;10c)To justify internal resource allocations; andd)To garner support from Government and other stakeholders for a range of tax systemreforms and/or additional resources for the revenue body.23At the ‘whole of tax’ level, compliance monitoring relates to having a set of measures and indicators for a specific tax that reflect on the performance of the tax from a tax complianceviewpoint. This may include, but does not specifically require, estimates/measures of the overalltax gap (i.e. the total amount of tax not collected resulting from all forms of non-compliance in aparticular fiscal period). Again, depending on the relevance and comprehensiveness of theinformation available such information gives a sense of the overall level of effectiveness beingachieved from a revenue body’s administration of the tax, while trend data may indicatemovements over time, either positive or negative, in overall effectiveness.24Annex 7 describes the UK’s HMRC Department’s ‘top-down’ approach to estimating overall VAT revenue losses from all forms of non-compliance. This is a global “tax gap” measure for the VATsystem derived using consumption expenditure data from the national accounts data series that iscollected independently of HMRC’s administration. This measure of overall VAT compliance wasintroduced in 2001 as part of a comprehensive strategy to address what was then regarded as aserious level of VAT revenue leakage resulting from specific tax evasion schemes (commonlyreferred to as ‘carousel’ or ‘missing trader’ fraud), tax avoidance planning and general non-compliance. Its initial use was to gauge the likely magnitude of the non-compliance problem. Themeasure is continually reviewed and updated with an annual updated result published each yearwith the Chancellor’s Pre-budget Report, with the trend being used to assess the overall impact ofHMRC’s compliance improvement activities and to gauge HMRC’s progress towards achievingimproved compliance.25At the ‘taxpayer segment’ (or program level), compliance monitoring relates to having a set of measures and indicators for a specific sub-segment of the taxpaying population (e.g. a category of taxpayer). Monitoring taxpayers’ compliance at this level is in line with the practice of anincreasing number of revenue bodies to segment their taxpayer populations for compliancemanagement purposes. Indeed, many revenue bodies physically organise their complianceoperations largely on a taxpayer segment basis. Information pertaining to compliance- relatedperformance at this level may therefore directly reflect on the effectiveness of overall programactivities (including the overall mix of treatment strategies implemented to address specific majorrisk issues).26An example of monitoring at this level is described briefly in Box 1.Box 1. HMRC: Compliance monitoring of small and medium-sized companies and employersAs part of its direct taxes compliance monitoring activities, HMRC has derived and recently publishedseparate estimates of overall compliance for SME companies and employers respectively, using the results ofits random audit inquiry program and non-payment data. The first category concerns SMEs and theirliabilities to corporations tax while the second relates to employers and their responsibilities to withholdincome tax and national insurance contributions from payments of wages and salaries. The results of thismonitoring are depicted in Examples 2 and 3 [xx and page xx].HMRC’s report of its work in this area notes that quantifying losses is important in helping to improve itsunderstanding of such losses and that this knowledge will ultimately improve revenue collection. It iscontinuing to develop methodologies as access to more reliable and wider sources of data and sophisticatedmodelling techniques become available. It is the intention to publish further estimates of tax losses whenrobust methodologies have been put in place.27At the ‘targeted risk’ level compliance measurement relates directly to evaluating the impact of specific risk treatments (e.g. special education, service, and/or enforcement-related actions thathave been applied to address underlying compliance risks. Knowledge of impacts (ideally benefitsin the form of improved compliance) enables the revenue body to decide if further attention is11。
