bodog sportsbook review|Most Popular_to a single quarter in http://www.wita.org/nextgentrade-topics/digital-tax/ Tue, 28 Jul 2020 16:45:04 +0000 en-US hourly 1 https://wordpress.org/?v=6.6.1 /wp-content/uploads/2018/08/android-chrome-256x256-80x80.png bodog sportsbook review|Most Popular_to a single quarter in http://www.wita.org/nextgentrade-topics/digital-tax/ 32 32 bodog sportsbook review|Most Popular_to a single quarter in /nextgentrade/a-transatlantic-digital-trade-agenda-for-the-next-administration/ Tue, 30 Jun 2020 16:27:27 +0000 /?post_type=nextgentrade&p=22172 CAN A NEW DEMOCRATIC ADMINISTRATION RECONSTRUCT DIGITAL TRADE POLICY WITH EUROPE FROM THE ASHES OF TTIP? As the global leader in digital trade, the United States has a big stake...

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CAN A NEW DEMOCRATIC ADMINISTRATION RECONSTRUCT DIGITAL TRADE POLICY WITH EUROPE FROM THE ASHES OF TTIP?

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The Obama Administration’s bold agenda to establish these rules across Europe and the Asia-Pacific did not yield lasting success, with the failure of the Transatlantic Trade and Investment Partnership (TTIP) negotiations and the Trump Administration’s withdrawal from the Trans-Pacific Partnership (TPP). Nonetheless, the key elements of US digital trade policy enjoy bipartisan policy support, providing a promising basis for the next Democratic administration to re-engage with Europe, our biggest digital trading partner.

Part 1 of this issue brief explains why international rules are needed to protect and facilitate digital trade. Part 2 describes the turbulent past decade in transatlantic trade relations and the growing importance of US digital trade with Europe. Part 3 explains why the US government and the European Union (EU), during TTIP negotiations, were unable to agree on a digital trade chapter, including a key provision guaranteeing the free flow of data. Finally, Part 4 suggests how two parallel sets of trade negotiations beginning early this year — between the EU and the United Kingdom (UK) and between the United States and the UK — may help a future US Administration end the transatlantic stand-off over digital trade.

PPI_A-Transatlantic-Digital-Trade-Agenda-for-the-Next-Administration

To view the full report at Progressive Policy Institute, please click here

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bodog sportsbook review|Most Popular_to a single quarter in /nextgentrade/time-for-in-depth-policy-on-digital-trade/ Tue, 16 Jun 2020 14:08:20 +0000 /?post_type=nextgentrade&p=21113 In the wake of Covid-19, enterprises and consumers find themselves seeking alternatives to purchasing commodities remotely, through e-commerce. The first of the three common ecommerce approaches utilised in Kenya, is...

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In the wake of Covid-19, enterprises and consumers find themselves seeking alternatives to purchasing commodities remotely, through e-commerce. The first of the three common ecommerce approaches utilised in Kenya, is the third-party aggregated applications, e-stores or e-marketplaces, that provide a trading platform on the web for sellers; either consumer to consumer (C2C), business to consumer (B2C) or business to business (B2B).

The second one is independent companies that use applications to trade their products using B2C model. The third option leverages on the presence of courier companies where a buyer, using their mobile phone, places an order with the seller, makes payments often using mobile money then engages a courier service for delivery.

As established in the 2016 National ICT Survey, 39 percent of private enterprises in Kenya are engaged in e-commerce and 71 percent buy or sell goods and services via mobile phones. Therefore, majority of Medium, Small and Micro Enterprises (MSMEs) may be utilising the latter approach.

Courier services are, therefore, essential components of e-commerce in Kenya. Kenya’s Communications Authority quarterly statistical reports establish that Kenya currently has 178 registered courier providers, a 44percent increase in ten years. These registered courier providers moved 2.8 million parcels last year. A great leap compared to 10 years ago when the number of parcels couriered in a year is equivalent to a single quarter in 2019. These statistics do not, however, include courier services rendered by informal and unregistered motorcycle operators, including boda bodas.

bodog poker review The growth in e-commerce has further been precipitated by ICT investments and reforms, such as fibre optic cables, which have contributed to improvements to the internet penetration rate from 25percent, 10 years ago to over 80percent today.

Other recent initiatives include reforming the legal framework, including Companies Act, Law of Contract Act, Stamp Duty Act, Kenya Information and Communications Act to facilitate digital economy. Many of these additional amendments were undertaken recently, with the enactment of the Business Laws (Amendment) Act, 2020. Other reforms include enhanced consumer protection provisions following the enactment of Consumer Protection Law in 2012.

Kenya’s Competition Act no. 12 of 2010 further protects consumers from unfair and misleading market conduct. Data Protection Act of 2019 may further enhance consumers’ confidence in transacting electronically. Consumer and data protection are critical given e-commerce is data-driven. In fact, companies use data to identify customers and market products. With the Covid-19 pandemic for instance, companies must adjust to the new demand patterns, which can be observed with correct consumer data.

The fourth possible enabler of e-commerce is mobile money solutions. The 2019 Kenya Digital Economy Blueprint report shows that 70percent of all e-commerce payments are through mobile money platforms. Further, as established in the 2016 enterprise survey, half (45percent) of MSMEs in Kenya transact using mobile money. Over a ten-year period, there has been a 600percent increase in the number and value of transactions undertaken using mobile money. As at end of 2019 for instance, there were 154.9 million transactions valued at Sh382 billion compared to 21.6 million transactions worth Sh52 billion as at end of 2009.

These statistics reveal that Kenya’s e-commerce is deepening.

Despite the growth, Kenya still has a digital divide, policy interventions should therefore be focused on promoting inclusion. Businesses participating in e-commerce, like traditional brick and mortar businesses, need to comply to licensing standards, intellectual property protection and consumer protection requirements as well as other regulatory aspects that are critical for digital trade including data protection, cyber security interventions and compliance to packaging standards and requirements, especially as relates to storage and transportation of food. This requires capacity and awareness.

Kenya’s industrial base however presents a challenge as relates to application of these laws given majority of Kenya enterprises operate informally (78.9 percent operate without a licence and 74.6percent have no business registration). A further 14percent of those that are unlicensed and have no fixed location and 19 percent are home-based.

E-commerce requires a well-developed logistics sector, warehousing facilities, good road and air transportation infrastructure as well as reliable and secure digital infrastructure.

Kenya has five advantages which are opportunities to be exploited: First, the Posta infrastructure throughout the country, which can form delivery points; second, the establishment of a National Addressing System that which would improve identification of locations through naming and numbering of streets; third is the National Optic Fibre Backbone (NOFBI). The recently launched manufacturing directory (by the Kenya Association of Manufacturers) and legal provision for an innovation database to be maintained by Kenya Innovation Agency are the last two.

Despite the existence of the regulatory and policy gaps, ecommerce bodog online casino is growing rapidly, especially in the wake of Covid 19. It is also apparent that further investments are required to bridge the digital divide. MSMEs participating in ecommerce need to build awareness on the relevant trade policies and regulations, especially in data and consumer protection to prevent unfair commercial practices and illicit trade such as trade of counterfeit goods.

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bodog sportsbook review|Most Popular_to a single quarter in /nextgentrade/why-digital-transformation-matters-for-taxation/ Fri, 12 Jun 2020 15:21:42 +0000 /?post_type=nextgentrade&p=21679 If there is one universal lesson from the Coronavirus pandemic, it is the importance of digital agility. The past few months have shown businesses and governments alike that in the...

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If there is one universal lesson from the Coronavirus pandemic, it is the importance of digital agility. The past few months have shown businesses and governments alike that in the time of crisis, they need to be able to swiftly adapt their operating model. This pressure is particularly acute for tax administrations.  As the global recession places renewed emphasis on revenue strategy, tax administrations are finding themselves on the front lines of a rapid and intense digital transformation, finding ways to conduct everyday and emergency business while complying with mandates to maintain social distance.

Economies with already strong underlying information technology are proving to be more resilient than those without this infrastructure already in place.  At a recent event, I listened to officials from Cambodia and Kenya explain how their strong digital track records are paying off during the current crisis.

In Cambodia, which had previously established an enabling regulatory environment around digital financial services, citizens were already accustomed to sending and receiving payments digitally, making it possible for the government to add tax functionality on to the pre-existing digital payment platforms. Similarly, in Kenya, citizens’ relative comfort with digital payments led to a recent uptick in the use of its e-tax system. The Kenya Revenue Authority has also been able to rely on its digital systems to obtain real-time data on emergency-related shifts in consumer spending, which helps the agency to predict the impact on revenues.

But the type of digital transformation necessary to get to this level is comparable to moving a boulder to the top of a mountain. It’s a long, arduous process, and it’s possible to lose footing along the way. Many economies, especially developing countries, rely on deeply entrenched systems and fight an uphill battle when it comes to public trust. In fact, many of the world’s lowest-income economies struggle to collect enough taxes to cover basic state functions. Add a global crisis into the mix and these tenuous relationships between taxman and citizen are likely to fall apart.

The current crisis provides an opportune moment to rework revenue strategies to be more digitally driven.  Tax administrations must shift the focus from simply processing taxpayers’ data to proactively improving compliance, policies, and efficiency. Modern revenue strategies will, to a large extent, have to run on digital platforms because they are necessary to effectively pursuing critical policy objectives such as:

  • Broadening the tax base. Data-centric approaches can be used to close gaps and take advantage of missed opportunities without necessarily increasing the level of taxation. Such measures include: requiring e-commerce platforms to report sales in order to facilitate the collection of VAT and customs duties; analyzing past tax filings of citizens seeking relief under current stimulus programs to verify compliance; and supporting the collection of property taxes by matching the land registry with the taxpayer file.
  • Enhancing transparency and trust. Establishing electronic platforms for bodog poker review tax registration, filing, payment, and dispute resolution make processes clear for citizens, provide assurances that tax payments end up in an actual government account, and reduce the risk of officials abusing their discretion. Implementation of technologies such as the MIT-incubated OPAL (Open Algorithm) provides researches, think tanks, or any citizen the ability to independently analyze tax data without having access to personally identifiable information. This will provide unprecedented transparency.
  • Reducing the compliance burden. We know from a survey of 190 economies that it is getting easier for people and businesses to pay taxes. There are now 106 economies using electronic filing systems, double the number in 2004. Digital technology is reducing the time spent on paying taxes as well as the total number of individual payments taxpayers must make each year.
  • Improving administrative efficiency. As governments mature in their use of information technology, they will be able to achieve substantial efficiency gains. For countries beginning their digital transformation, AI-enabled data capture of paper-based records can speed up the digitalization and reliability of the data. Others find significant value through the simplification of procedures and matching of filing information with third-party data sets. For more advanced tax administrations, the use of advanced analytics to identify underreporting will be a key value driver. In the current crisis, some administrations are also rethinking their balance between offsite and onsite audits.
  • Advancing growth and other policy objectives. As the central depository of citizen data, tax administrations play an increasing role in advancing non-tax related objectives. For example, by using taxpayer data to: verify beneficiaries under cash transfer programs, monitor the consumption of goods with detrimental health impacts (e.g., alcohol and cigarettes), model tax policy responses to curb carbon emissions, identify growth drivers in the economy, detect labor market violations, and ascertain the well-being of vulnerable groups in society.

Progress toward these objectives has been uneven and the World Bank cannot get this “modernization boulder” to the top of the mountain alone. To help countries accelerate digital transformation, we need partners with multidisciplinary expertise who can help pull while we push. To that end, we co-founded the Prosperity Collaborative. This new multi-stakeholder initiative is dedicated to helping countries create better tax systems through innovative technology. Together with EY, New America, MIT and the Boston Global Forum, we are just getting started on a journey to bring tangible benefits to developing countries.  Our current priorities are –

  • Developing global solutions to build capacity among developing countries and emerging market to undertake a successful digital transformation of their tax administrations;
  • Promoting thought leadership on tax and technology;
  • Exploring the creation of a mechanism to identify, prioritize, fund, and implement digital public goods for use by tax administrations;

By bringing these leading organizations together under the banner of the Prosperity Collaborative, we aim to create solutions that are well-targeted and easily replicable across different country contexts. Ultimately, we aim to create digital public goods that can be built once and deployed anywhere.

To view the original World Bank Blog post, please click here

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bodog sportsbook review|Most Popular_to a single quarter in /nextgentrade/taxation-digitalized-economy/ Wed, 03 Jun 2020 16:24:51 +0000 /?post_type=nextgentrade&p=20977 KPMG’s developments summary provides—in table format—the bodog online casino following information on direct and indirect taxes: Summary of tax measures implemented, proposed and announced in response to the challenges arising from the digitalized...

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KPMG’s developments summary provides—in table format—the bodog online casino following information on direct and indirect taxes:

  • Summary of tax measures implemented, proposed and announced in response to the challenges arising from the digitalized economy
  • Country-specific details
  • OECD milestones
  • EU milestones
digitalized-economy-taxation-developments-summary

To view the original report, click here.

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bodog sportsbook review|Most Popular_to a single quarter in /nextgentrade/oecd-digital-tax-proposal/ Wed, 09 Oct 2019 15:47:14 +0000 /?post_type=nextgentrade&p=18233 Background The Programme of Work (PoW) adopted by the Inclusive Framework on BEPS at its meeting of 28-29 May 2019, and approved by the G20 Finance Ministers and Leaders at...

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Background

The Programme of Work (PoW) adopted by the Inclusive Framework on BEPS at its meeting of 28-29 May 2019, and approved by the G20 Finance Ministers and Leaders at their respective meetings in Japan in June 2019, provides for two pillars to be developed, on a without prejudice basis, with a consensus solution to be agreed by the end of 2020. For Pillar One, the PoW allocates work to explore the three proposals articulated so far, but recognises that for a solution to be delivered in 2020, the outlines of a unified approach would need to be agreed by January 2020. This outline will have to reduce the number of options available and bridge the remaining gaps to facilitate the task of arriving at a consensus on a unified approach to Pillar One in 2020. Consistent with that objective and to help expedite progress towards reaching a consensus solution to Pillar One issues, the Secretariat prepared a proposed “Unified Approach”. It is built on the significant commonalities identified in the PoW, takes account of the views expressed during the March Public Consultation in Paris, and seeks to consider the different positions of the members of the Inclusive Framework. This proposal was discussed by the Task Force on the Digital Economy (TFDE) at its meeting on 1 October 2019 and is now released to the public for comments.

Public Consultation

The public consultation meeting on the proposed “Unified Approach” to deal with Pillar One issues will be held on 21 and 22 November 2019 at the OECD Conference Centre in Paris, France. The objective is to provide external stakeholders an opportunity to provide input into the ongoing work. Another separate public consultation meeting on Pillar Two issues will be organised in December 2019, and the related public consultation document is expected to be released in early November 2019. This consultation document describes, at a high-level, the “Unified Approach” to Pillar One proposed by the Secretariat, and seeks comments from the public on a number of policy issues and technical aspects. The comments provided will assist members of the Inclusive Framework in the development of a solution for its final report to the G20 in 2020.

Interested parties are invited to send their comments no later than Tuesday, 12 November 2019, noon Paris time, by email to TFDE@oecd.org in Word format (in order to facilitate their distribution to government officials). They should be addressed to the Tax Policy and Statistics Division, Centre for Tax Policy and Administration. Please note that all comments on this public consultation document will be made publicly available. Comments submitted in the name of a collective “grouping” or “coalition”, or by any person submitting comments on behalf of another person or group of persons, should identify Bodog Poker all enterprises or individuals who are members of that collective group, or the person(s) on whose behalf the commentator(s) are acting. Speakers and other participants at the upcoming public consultation meeting in Paris will be selected from among those providing timely written comments on this consultation document. Information on the public consultation meeting is available on the OECD website. The proposals included in this consultation document have been prepared by the Secretariat, and do not represent the consensus views of the Inclusive Framework, the Committee on Fiscal Affairs (CFA) or their subsidiary bodies. 

  1. The tax challenges of the digitalisation of the economy were identified as one of the main areas of focus of the Base Erosion and Profit Shifting (BEPS) Action Plan, leading to the 2015 BEPS Action 1 Report. Policy discussion on those challenges remains an important part of the international agenda.
  2. Following a mandate by G20 Finance Ministers in March 2017, the Inclusive Framework, working through its Task Force on the Digital Economy (TFDE) delivered an Interim Report in March 2018: Tax Challenges Arising from Digitalisation – Interim Report 2018 (the Interim Report).
  3. Conscious of the ambitious G20 time frame and the significance of the issue, the TFDE further intensified its work following the delivery of the Interim Report. Drawing on the analysis included in the Action 1 Report as well as the Interim Report, and informed by the discussions at the July 2018 and December 2018 meetings of the TFDE on a “without prejudice” basis, a number of proposals were made by delegates to the TFDE. These proposals, together with the recent discussions and comments from members of the OECD/G20 Inclusive Framework, lay the grounds for the Inclusive Framework to agree on the way forward to achieving a consensus-based solution in 2020.
  4. In January 2019, the Inclusive Framework issued a short Policy Note, which grouped the proposals under consideration into two pillars. Pillar One, with which this document is concerned, focuses on the allocation of taxing rights and seeks to undertake a coherent and concurrent review of the profit allocation and nexus rules. Pillar One comprises the “user participation”, “marketing intangibles”, and “significant economic presence” proposals. The Policy Note stated that these proposals would entail solutions that go beyond the arm’s length principle. Pillar Two is concerned with the remaining BEPS issues.
  5. As part of the continuing work, a public consultation document was released on 13 February 2019, which sought input from external stakeholders.
  6. On 28 May 2019, the Inclusive Framework adopted a Programme of Work to develop a consensus solution to the tax challenges raised by the digitalisation of the economy. This was subsequently endorsed by G20 Finance Ministers at their meeting in Fukuoka on 8-9 June 2019, and by G20 Leaders in Osaka on 28-29 June 2019. The Programme of Work is a critical step towards responding to the request from the G20 to find and agree a consensus solution by the end of 2020.
  7. The Programme of Work highlighted the commonalities of the three proposals presented to the TFDE to facilitate a consensus solution on Pillar One. It also identified various technical issues that need to be addressed and allocated this work to different working parties. However, the Programme of Work emphasised the necessity to agree on the outline of the architecture of a unified approach by January 2020, given the goal of arriving at a consensus solution by the end of 2020. It also acknowledged that without bridging the gaps between the three proposals, it will not be possible to deliver such a solution, which may in turn encourage more jurisdictions to adopt uncoordinated unilateral bodog online casino tax measures, including measures that tax gross revenues. Any such occurrence would undermine the relevance and sustainability of the international tax framework, and would damage global investment and growth.
  8. As highlighted in the Programme of Work, the stakes are very high. In the balance are: the allocation of taxing rights between jurisdictions; fundamental features of the international tax system, such as the traditional notions of permanent establishment and the applicability of the arm’s length principle; the future of multilateral tax co-operation; the prevention of aggressive unilateral measures; and the intense political pressure to tax highly digitalised MNEs.
  9. In recent months, in light of the high stakes and the need for a clear direction, the Secretariat has undertaken extensive consultations to develop a “Unified Approach” which is outlined in this document. This document also aims to illustrate its application through an example.
public-consultation-document-secretariat-proposal-unified-approach-pillar-one

To read original document, click here

 

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