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Basic Income—an early Icelandic experiment**

subject to a 40% marginal tax rate. For those with an annual income of 200,000–300,000 ISK, taxes for couples with two children decreased by 4%, for single parents by 3%, and for unpartnered individuals by 2.5%.However, the main innovation in the 1974 reform was the introduction of a tax credit (termed “skattafsláttur” in the text of the law instead of tax allowance for “persónuafsláttur”). If the tax credit was higher than the taxes due, the balance was paid out. This was not the case for “tax savings” caused by the tax allowance. The tax credit was intended as income

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Permanent Establishment for Investors in Private Equity Funds—A Legal Analysis in Light of the Changes to the OECD Model (2017)

investors in combination with a significant amount of debt. The targets of such acquisitions are often mature larger companies. On the opposite, another important subgroup of private equity investments, known as venture capital, focuses on investing in younger often very innovative companies that may have difficulties in finding alternative sources of financing. Accordingly, such investments are often praised for their important role in nurturing new industries. Cf. Hobohm, supra n. 18. See also OECD, Venture Capital and Innovation (OECD 1996). Even though the

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Growth-Enhancing Corporate Tax Reform in Belgium

will be discussed apply equally to other countries in Europe or the OECD, Belgium is unique in a few respects. First, before 2018, Belgium was among the very few countries in the world that neutralized the debt bias inherent in many CIT designs; it did so through granting a notional interest deduction (NID) for equity capital. Second, this system was combined with one of the highest statutory CIT rates in Europe of almost 34 percent. Finally, Belgium has a few other characteristics that are relatively uncommon, such as a very generous innovation box, absence of a

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Taxation of Swedish Firm Owners: The Great Reversal from the 1970s to the 2010s

: “samhällsföretag utan ägare.” He could even claim support from Schumpeter (1942) , who in his later writings argued that the declining economic importance of the entrepreneur was a major force in the transformation from capitalism to socialism and that the innovation process would become more and more automated and routinized as a result of modern techniques and modern modes of organization. Innovations would no longer be connected with the efforts and brilliance of a single person. Instead, innovations were increasingly to become the fruits of the organized efforts of large

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The Nordic model of taxation and its influence in North America: Image and Reality

consistently enough (especially items i and ii) to constitute a coherent model and be perceived as such in other European and non-European countries. While academics emphasize economic and social policy, Nordic countries are also identified with various behavioral or cultural traits, including a high degree of women’s equality, progressive environmental policy, and a culture of innovation, especially in design and high technology (high-tech) ( Hilson (2008) ). Although these concerns are genuine, they have also been marketed very aggressively, with locally based

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Reforming capital gains taxation of intercorporate share realizations : a law and economics approach from a Nordic perspective

society to re-focus on the innovation at the EU level and to re-allocate capital resources across firms and innovations systems. This means that in the ideal situation the results of the studies among the area of the capital gains taxation would serve as a trigger for EU-wide development of the economic innovations. Even though the main focus is in the system level approach, the current corporate capital gains taxation models in the individual countries have played a significant role in the capital gains taxation development so far, and it may not be possible to

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The importance of staff to the efficiency of the tax agency

public needs, speedy case management processes and correct decisions, as well as attentiveness, i.e . being courteously treated by competent staff. Public administrations must continue to develop activities and staff expertise (Proposition [prop.] 1997/98:136). The Tax Agency should not only be characterised by rule of law and efficiency but also innovation and cooperation. In the preparatory process, innovation is primarily referred to as the ability to establish, in cooperation, more value-creating systems that accommodate the citizens’ (users) requests for

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A review of earnings management in private firms in response to tax rate changes

independent auditors. Private firms make up the foundation of the global economy and play an important part in economic growth, since they are major contributors to employment, entrepreneurship, and innovation in countries worldwide. Based on the characteristics of private firms, the major objective of financial reporting is not to inform financial statement users such as investors about the financial performance of the firm. Rather, the financial reporting objectives of private firms are more likely to be influenced by issues of taxation and dividend distribution ( Ball

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The Nordic model: 25 years of drawing the line between earned and capital income in Finland

the distinction between income types has inspired tax-planning innovation to convert the earned income into capital income. On the other hand, a differentiated tax system also involves some issues of equity and justice in taxation. From the viewpoint of horizontal equity, the question is, inter alia , that in some situations and tasks, there is a possibility to use the company form for optimizing taxation, whereas in some situations and tasks, it is not. Also, the postponement of the income realization is usually possible only for capital income but not for

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