Podcasts about value added tax

On this episode, we examine what it means to have your life controlled by an out of control state apparatus. What policies do they set that you have to follow? Also, what is the purpose of the Value Added Tax? Should it be abolished? We ask the questions. Contact and Support - https://www.subscribestar.com/dynamic-independence

Finance Minister Enoch Godongwana has announced a new budget date. The revised budget will be tabled on the 21st May 2025. This follows a court challenge that the Democratic Alliance and Economic Freed Fighters had brought in the country's High Court in the Western Cape Province, in opposition of his proposed hike in the country's Value Added Tax. Sakina Kamwendo spoke to economics and political commentator, Khaya Sithole

SARS Commissioner Edward Kieswetter has welcomed the ruling by the Western Cape High Court to set aside the Value Added Tax increase and the fiscal framework in favour of the DA and the EFF. Kieswetter has urged consumers to be vigilant that their invoices show 15% VAT and not more than that. Sakina Kamwendo spoke to Consumer Goods Council of SA CEO, Zinhle Tyikwe

South Africa's budget process has been thrown into uncertainty after Finance Minister Enoch Godongwana scrapped plans for a 0.5% increase in Value-Added Tax. The move has sparked mixed reactions from politicians. The ANC has welcomed the decision, calling for more inclusive fiscal policy, while the EFF has hailed it as a victory, but is demanding the Finance Minister's resignation and a complete overhaul of the budget process. For more Elvis Presslin spoke to EFF Senior Researcher, Dr. Gumani Tshimomola

The proposed Value Added Tax increase has sparked concerns among economists, who warn that it could further strain already struggling households. As part of his revised budget, Finance Minister Enoch Godongwana announced a 1 percentage point VAT hike, phased over two years. The first increase of 0.5% is set to take effect in May, followed by another 0.5% hike in April next year. To delve deeper into the potential implications of this decision, Elvis Presslin spoke to Qhivi Tiva, Head of Fixed Income at Prowess Asset Management

Lester Kiewit speaks to Mervyn Abrahams, programme coordinator for the Pietermaritzburg Economic Justice and Dignity Group, to discuss the impact that a two percentage point increase in South Africa’s Value Added Tax (VAT) will have on poorer households, as well as other sectors of the economy.See omnystudio.com/listener for privacy information.

With almost 700 million visits per month, Temu is the second most frequently visited e-commerce site in the world. And because Temu is so successful, the Chinese platform is facing attacks from all sides: competitor Shein is suing Temu for product piracy, while the US and Europe are planning to protect their markets and local providers by imposing tariffs on packages from China.  And Temu? is targeting the US and Europe and opening up to sellers based in these countries. With so much movement in the market, it's worth taking another critical look at Temu and also at the behavior of competitors. Ingrid and Valerie do just that in the new episode 79 with Ed Sander, THE China expert from the Netherlands. The podcast, for example, is about why Shein, Temu and Amazon hypocritically accuse each other of their own actions (or rather their own offenses), how Temu puts pressure on Chinese manufacturers and why Shein benefits from it and why Amazon presents this manufacturer as a “friendly” alternative to Temu. Newsflash: -        Amazon eases the export to countries without a specific Amazon Store with the new Export Central, which is part of Amazon's EU Export program.  -        British fasion retailer and marketplace Asos.com will sell its daughter chain Topshop/Topman not to Shein - even though the chinese company made the best offer.  -        The financing of the internationalization of the Swiss marketplace Galaxus to Germany and other European countries is now secured until at least 2029.  -        Amazon has reduced the deadline for processing unsaleable stock from 30 to 23 days. If companies miss this deadline, Amazon can dispose of these products. -        The online gaming platform Roblox plans to sell physical products directly on the platform starting in 2025. New Webinars available: Exciting webinars await you in the fall! On September 24th at 11 a.m., Jonny Hofberger from Taxdoo will discuss the topic of Value Added Tax and accounting in cross-border sales. The German webinar is about avoiding annoying mistakes and expanding your daily business securely and efficiently. In addition to many tips and a detailed Q&A session, the optimization of accounting is also discussed, for example through the integration of Amazon Seller Reports. Pre-registration is done directly via this zoom link: https://zoom.us/webinar/register/6417219151320/WN_uW5krYjySyiAzMq1wfq_wg#/registration⁠ On October 9 at 11 a.m., Matthias Kluth from Kaufland and the retailer Antonio Ligato from G+L will be webinar co-hosts at Marketplace Universe. They will be talking about internationalization on the Kaufland marketplace, which has recently launched in Poland and Austria. You can register here: https://realreataccount.clickmeeting.com/global-verkaufen-lokal-durchstarten-deine-masterclass-fur-kaufland-global-marketplace/register Marketplace Universe Connect in Munich: Are you a brand, seller, retailer, manufacturer or e-commerce head of? From the areas of DIY, home & living, gardening, sports, consumer electronics or similar? Then mark October 7th in your calendar and register now for the “Marketplace Universe Connect x plentyOne Munich Edition”! What do you get? Direct exchange, valuable contacts, a short presentation of a brand, drinks & food in a relaxed atmosphere in a cool location. But be aware: Not everyone who registers will automatically be accepted – Each registration is carefully checked to ensure an optimal experience for all guests. You want to be there? Then register now! All information can also be found on www.marketplace-universe.com/events! Chapters: 00:00 Introduction of the topic and Ed Sander 08:36 Newsflash 19:12 The crash of Temu's stock price and the reasons for it 24:24 Temu's challenges in terms of profitability and product quality 28:02 Temu's approach to sellers 36:21 Government attempts to contain Temu 40:56 Comparing Temu's and Shein's business models 45:01 Tough conditions at Temu

Joining me on this episode is Ross Palmer, of Sayer Vincent LLP. Ross. a tax advisor to charities and not-for-profits shares his professional journey from audit to tax advisory.We delve into value added tax (VAT) and Ross provides clear explanations of various VAT considerations including reverse charge VAT and partial VAT recovery. He also talks about the gift-aid relief scheme, business rates and stamp duty.Ross provides responses to some VAT scenario-based questions.This episode is a lesson in nonprofit VAT, so be sure to listen to the full episode.KEY TAKEAWAYSUnderstanding the specific needs and compliance issues faced by nonprofits is crucial in tax advisory work.Reverse charge VAT is a complex area that arises when buying services from overseas suppliers.VAT recovery for nonprofits requires careful apportionment and understanding of exempt and taxable activities.Expanding trading activities requires careful consideration of VAT planning strategies, such as forming a subsidiary or opting for VAT grouping.Charities often miss out on claiming VAT relief for advertising and maximizing gift aid income.Tax is complex, but seeking professional advice and staying compliant is crucial for charities.BEST MOMENTS“… it's a self-assessed tax, but ultimately If HMRC query it, you have to be able to justify what you do, and words aren't enough,…”" tax is complicated. But it doesn't need to be scary.."EPISODE RESOURCESConnect with Ross: https://www.linkedin.com/in/ross-palmer-sv/Nonprofit Accounting, Audit, Tax and Resources: https://www.sayervincent.co.uk/HMRC Charity tax resource: https://www.gov.uk/charities-and-tax ABOUT YOUR HOSTAishat operates her own bookkeeping and accounting services practice – BAnC Services which focuses primarily on serving non-profits. Before founding her practice, she dedicated over two decades to the non-profit sector.With her podcast, Aishat shares practical insights and expertise to streamline financial management for non-profits; and shines a light on the often unseen & unheard efforts that uphold the delivery of a non-profit's mission.Beyond her professional endeavours with non-profits, Aishat is deeply committed to supporting single mothers with navigating financial management challenges and is the author of "Money Solutions for Single Mums". She also champions financial literacy among young black adults and thrives in discussions about money management.Work with Aishat: www.bancservices.co.ukCONNECTInstagramTikTok

According to the Congressional Budget Office, interest on the national debt in 2024 will cost a staggering $870 billion, a sum that exceeds the amount we spend on defense. Today's Stocks & Topics: DG - Dollar General Corp., CLIP - Global X 1-3 Month T-Bill ETF, Market Wrap, Could a 'Value-Added Tax' Be a Potential Solution to Our Crippling Debt Problem?, CIVI - Civitas Resources Inc., Treasury Debt Buy-Backs, KNSL - Kinsale Capital Group Inc., MLI - Mueller Industries Inc., THC - Tenet Healthcare Corp., The Diamond Market, HEES - H&E Equipment Services Inc., Life Insurance Companies.Our Sponsors:* Check out Rosetta Stone and use my code TODAY for a great deal: https://www.rosettastone.com/* Check out eBay Auto: www.ebay.comAdvertising Inquiries: https://redcircle.com/brandsPrivacy & Opt-Out: https://redcircle.com/privacy

In this week's episode, we take a look at direct selling for indie authors, and compare the pros and cons of Payhip and Shopify as platforms for selling direct. This week's coupon code will get you 50% off the audiobook of DRAGONSKULL: BLADE OF THE ELVES (as excellently narrated by Brad Wills) at my Payhip store: 00:00:00 Introduction, Writing Updates, and a Reader Question Hello, everyone. Welcome to Episode 197 of The Pulp Writer Show. My name is Jonathan Moeller. Today is April the 19th, 2024, and today we are talking about the pros and cons of Payhip and Shopify for direct sales by authors. Before we do that, we will do Coupon of the Week and some updates on my current writing projects. I have some questions from readers and will discuss what I did to celebrate publishing my 150th book. First up, Coupon of the Week. This week's coupon code will get you 50% off the audiobook of Dragonskull: Blade of the Elves (as excellently narrated by Brad Wills) at my Payhip store. That coupon code is SPRINGELVES, spelled SPRINGELVES. As always, the link and the coupon code will be in the show notes for this episode. This coupon code is valid through May the 14th, 2024, so if you need a new audiobook for spring, we have got you covered. Now let's have a look at my current writing and audiobook projects. Wizard-Thief, as I mentioned in last week's episode, is done and is out on Amazon and Kindle Unlimited and is selling quite strongly. Thank you very much for that. Now that it is out, my main project is Cloak of Titans, the 11th book in the Cloak Mage series. As of this recording, I am about 34,000 words into it, which puts me on Chapter 7 of 24. I think the final book length will end up being about the length of Cloak of Embers, which was about 110,000 words. Once Cloak of Titans is finished, my next project will be Shield of Darkness, so I will finally be getting to the second book in the Shield War series, which will be a follow up to Shield of Storms from back in January. If all goes well, I think Cloak of Titans will be out in the second half of May, maybe towards the start of June. I'm hoping to have Shield of Darkness out shortly after that, probably towards the end of June. I have also started working on the sequel to Wizard Thief, which is Half-Orc Paladin. That will come out after Shield of Darkness is done, hopefully not too long after Shield of Darkness is done. So that will probably be around the middle of July or so. So that is what I'm working on for books for the next couple of months. In audiobook news, recording is underway for Ghosts in the Veils. That will once again be recorded by Hollis McCarthy. I have Brad Wills working on the Tales of the Shield Knight anthology, which once it's in audiobook, I'm going to sell it as a bundle on Audible and Amazon and all the other usual audiobook stores. I will also be giving away short stories individually for free from that collection in my newsletter, so that is once again a very good reason to sign up for my new release newsletter. Leanne Woodward has agreed to narrate the second book in the Half-Elven Thief series, Wizard Thief. If all goes well, that will probably happen in June. And also in June, CJ McAllister will be narrating the second book of the Stealth and Spells Online Series, formerly known as Sevenfold Sword Online. So that is where I'm at with my current writing projects. Now we have one question from a reader that is not connected with our other segments. It's from Robert who asks about the Half-Elven Thief series: is this series available in paperback? I'm pleased to say that yes, it is. Both Half-Elven Thief and Wizard-Thief are available in trade paperback. Probably the cheapest place to get them is on Amazon, but I have expanded distribution for them so you should be able to buy it online from a variety of other stores. 00:03:43 Celebrating Book #150 As I mentioned previously on the show, Ghost in the Veils was my 150th book. Thank you for reading, everyone. Quite a few people asked how I wanted to celebrate, the implication being that I wanted to take a trip or something like a cruise, that sort of thing. However, with all respect to the cruise industry, if I wanted to catch norovirus, I could do it much closer to home for far less expense. However, I have established a precedent for celebrating major book milestones like this. Way back in 2019, Dragontiarna: Knights was my 100th book and to celebrate that milestone, I got a Nintendo Switch, which was the first dedicated video game console I had used since 1998 or so. Given that six months later COVID started, that turned out to be a wise purchase because suddenly I had a lot more time for video games. I got to beat a bunch of games I never had time to finish otherwise back in the ‘90s, like Super Mario Brothers, Super Mario Brothers 3, the original Castlevania trilogy for NES, the Super Nintendo Castlevania games, Super Metroid, and I finally finished Skyrim. It wasn't all a retro nostalgia trip because I did finish a few newer games on it as well, like Metroid Dread and Bloodstained: Ritual of the Night. I recently had one of those numerically significant birthdays that are divisible by a large number, so I commemorated that occasion by getting an Xbox. It is a fine game console, but the problem with the Xbox was unlike the Switch, using the Xbox monopolizes the television. I finished the original Halo trilogy on Xbox and Skyrim again, but the whole Xbox monopolizes the television thing was kind of a difficulty for finding time to play it. But then a new device came to my attention: portable monitors. Obviously, most monitors are portable depending on size, but this new sort of monitor is basically a laptop LCD panel with a kickstand. It runs off a USB-C connection for power and you can connect a device to it with a USB-C or mini HDMI. Overall, these portable monitors tend to weigh about as much as an iPad in a case. They were basically intended for business travelers, since they fit easily into a laptop bag and then you can have a dual monitor set up with your laptop while you're on the road. However, it also connects just fine to an Xbox. If you can hold a laptop comfortably in your lap, then a portable monitor is about one third of that total weight. I moved my Xbox over next to the couch, connected it to a portable monitor, and have been using the Xbox that way. It is really quite exceedingly comfortable. Since I've beaten Skyrim a couple of times now, I need to decide on a new long-term game, which is why Question of the Week will be what it is shortly. So the “too long; didn't listen” version was celebrated my 150th book with a sub-100 dollar portable monitor off Amazon. It's really quite enjoyable and thank you for coming along for all 150 books. 00:06:35 Question of the Week It quite naturally segues into our Question of the Week. This week's question: what Xbox Game should I play next? No wrong answers, obviously. The reason I asked this particular question is because I keep defaulting to Skyrim or Halo when I play an Xbox game and would like to try something different. My leading candidates so far are Starfield, Witcher 3, and Dragon's Dogma 1. As you might have expected, this inspired many comments. LG says: I'm glad to hear you're an Xbox player, too. I like to separate my work/study computer from my gaming space, so having the controller plus TV in another room works well for me. Revenant 2 is my new favorite game. It jumped forward in my “to play” list when Halo Infinite's campaign wasn't personally feeling right. This game has got fantastic narratives, brilliant variety, exciting exploration, and frequent boss fights, it's souls-like but forgiving, the level/combat/gear systems are great, and there's a totally viable offline/single player mode. Justin says: We are a Nintendo family. Not quite 30 years ago, the PlayStation came out. Amid whining, I had the kids vote on what platform we would stick with. There is no way our entertainment budget could handle more than one. The most complaints have been missing out on the Metal Gear franchise, so that's my vote. Malcolm says 150 books. What an amazing feat. Congratulations. I feel like I've been on the journey with you, having read every book you have written and every series. I particularly enjoyed any book with Ridmark and Calliande and like Dragonskull, the next generation of Arbans. I also thoroughly enjoyed all the Demonsouled books, wasn't so keen on the Cloak and Ghost crossovers, but still a good read. Whatever you do, enjoy this landmark. Have fun. To answer the question, I do not usually play video games, but one that did catch my attention and play through all of them is the Dragon Age games. MacKenzie suggests Red Dead Redemption. The graphics hold up remarkably well. It's astoundingly clear for a Rockstar game and has an amazingly authentic feel to it. I'm not even a huge Western fan, but there's something extremely relaxing about riding out of town into the desert to hunt varmints. I think that is probably why so many people will go hunting in real life. Michael says: Starfield is a great game, but no modding yet on Xbox. Perry says: I haven't owned a console in over a decade, nor have I played any of those games, but my preference would be for Witcher 3. James says: How does Baldur's Gate 3 not make the list? Best game I've played maybe ever. David says: Fallout 4 was fun. Mark says Witcher. Starfield, I found to be slow to start with. I play Skyrim over and over again. I kind of do that as well. You can always mod Skyrim if you have the anniversary edition and haven't already. Robb says any car racing game. Juana says Witcher 3. Martin says Witcher 3. Becca says Witcher 3. So there are many votes there for Witcher 3. William says Hogwarts Legacy. Jake says: I honestly can't recommend any games, no matter what platform they come in. Xbox, PlayStation, Atari…just not worth it anymore. So I'd skip the games and write a book, maybe continuation of the Silent Order series. That's my vote. Thank you for that advice, Jake, I suspect it might be a little self-interested, but I appreciate that. Next one is from Michael, who says next Xbox game is called: buy a PlayStation. Barton says: only played Witcher 3 out of those, but it was engrossing. Bobby says Starfield and Hogwarts Legacy are both enjoyable as well as Jedi Survivor. And finally, Jim says: Child of the Ghost. Wait…not a game….yet. Thank you everyone, for all the suggestions. I think what I'm actually going to do is I'm going to try Starfield because that comes with Game Pass and I have Game Pass already. If I don't like that, I will I probably start Witcher 3 because I got that one was on super sale like last year for something like 10 bucks and so it's been sitting in my account and I haven't played it. But if I try Starfield and don't like it, I will switch over to Witcher 3. If I don't like Witcher 3, maybe it'll be time for Baldur's Gate 3. 00:10:40 Main Topic: Shopify vs. Payhip for Direct Sales for Writers But as much as I enjoy video games, I enjoy writing more and this is not a video game podcast. This is The Pulp Writer Show, so I think we should segue over into talking about an actual writing topic. This week's topic is comparing Shopify and Payhip for direct sales or as a direct sales platform for indie authors. And before we dig in, I should have a disclaimer. As you may know from my frequent mention of it on this show, I use Payhip quite a bit and that's how I do my direct sales. That said, I am not sponsored by Payhip. I don't get any stuff from this, whether financial benefits or an affiliate program, that kind of thing. I haven't used Shopify, but we did look into it quite a bit for the show and any opinion I express on this podcast is my own and not influenced by either Shopify or Payhip in any way. All right with that out of the way, let's dig into the topic. First off, why do direct sales? We should probably define that first. Direct sales is when an indie author sells a book using an ecommerce platform like Payhip or Shopify or Gum Road or a bunch of others without going through one of the big stores like Amazon or Apple or Google Play. So why do this? You get a greater cut of the profit than through ebook stores, whereas on a platform like Amazon, you max out at 70% of the sale price is what you get as the author. On direct sales platforms, you can potentially get nearly everything minus credit card fees and platform fees, which is higher than any of the other stores offer. You get paid faster. If you make a direct sale from the author, the author gets the money almost instantaneously, depending on their payment setup. Freedom/control. This is the big one. There is a lot of freedom in doing your own direct sales. It is a lot of work, but then like all forms of freedom, it is often quite worth it. It's much easier to run sales or issue coupon codes, as you know if you listen to the show regularly. Every week I give out a different coupon code for a discount on my Payhip store. It's also very good for people who want to sell online courses or memberships, which is not something I'm interested in doing. People who are interested in doing that usually need to employ an online sales platform such as Shopify or Payhip rather than trying to sell it on something like Amazon or eBay. There are a couple of things to note about trying direct sales. There is quite a bit of learning curve since you have to set up the store yourself and that involves a lot of clicking and uploading and so forth. You also need to learn about things about like Value Added Tax, shipping, file delivery services, etcetera. And if you are selling in the United States, you also have to be careful you comply with whatever these sales tax laws are for your jurisdiction or for where you're selling in the United States. Direct sales don't count towards ranking on other platforms, if that's something that's important to you, if you want your book to be a number one category bestseller on Amazon, direct sales will not help with that. It does take a bit of time to set up and maintain, and it also takes time for readers to get used to it and will not likely be a large portion of your sales, especially at first, since users tend to stick to the platform where they already have built up a library. This is one of the reasons why the Steam game platform is so dominant, because it's been around for a long time and a lot of the users have very big Steam libraries, so they're not super keen on jumping to a different distributor. Readers will need a carrot not a stick to get them to try a new platform, which is one of the reasons why I do those coupon codes all the time. So now to the actual nitty gritty of Payhip versus Shopify. We can sum it up quite neatly by saying it this way: Payhip is primarily designed for digital products. Shopify is primarily designed for physical products, but both are capable of selling either physical or digital products. Shopify allows for greater analytics and customization, while Payhip has a great basic service that keeps the costs low. So in terms of pricing, which costs more? Payhip pricing has three tiers. There is the free tier, which you pay obviously $0 per month and then Payhip takes 5% of each transaction. There is the middle tier, where you pay $29 USD per month and Payhip takes 2% of the transaction. Then there is the top, most expensive tier, which costs $99 USD per month and Payhip takes 0% of the transaction fee. Obviously, you would only consider that tier if you were making more than $1,200 USD a year in direct sales. Shopify does not have a free tier. At the basic tier, it costs $39 USD per month and Shopify takes 2.9% + $0.30 USD per transaction. At $105 USD per month, Shopify takes 2.6% + $0.30 USD per transaction. At $399 USD per month, Shopify takes 2.4% + $0.30 USD per transaction. We can see that with Shopify, you are already going to be paying more out the door. If you're just starting with direct sales, it might make more sense to start with the free tier on Payhip and then look at more costly options on either service as your needs grow and if you need the additional, more expensive features. So let's look at the pros on Payhip. The biggest pro on Payhip is low bar to entry in both terms of cost and in terms of technology needed to create a basic storefront. I've been doing direct sales on Payhip since 2021, and it's a very simple platform to use. There's a little bit of a learning curve, but it's not a huge one compared to something like WordPress or Adobe Photoshop. As we mentioned, the lowest tier plan is free but with a 5% cut of sales. The Pro plan, the top tier that we mentioned earlier, is $99 USD but then there are no transaction fees. It can handle UK/EU Value Added Tax automatically unlike Shopify because Payhip is based out of the UK, so that is built into their platform. Payhip also has some handy features that Shopify doesn't or that Shopify doesn't offer without like a plug-in app, that kind of thing that Shopify offers: settings for selling online courses, memberships, affiliate marketing, and a referral system. When I have had to contact Payhip about some sort of tech issue, I've always found their customer support to be very fast and responsive. As I mentioned before, I'm not being paid to say that. That is just my own personal experience. The pros for Shopify are basically for more advanced users, I think. $29 USD a month for the lowest pricing plan and then plus a cut and plus a transaction fee, that can add up if you have a lot of transactions. I think Shopify is really aimed more toward more advanced users than someone starting out with the basic ebook store on Payhip. However, to be fair, you do get a lot of stuff for that money. Shopify has an advanced website builder feature with more customization options on the pages. It has much more advanced SEO and analytics tools than anything Payhip offers. It is very useful if you're selling physical products. It also offers features to support delivery of physical items, such as customized shopping options based on location. More third-party apps or third-party payment options are available through Shopify (for example, Amazon Pay or Apple Pay). Shopify does offer a lot of customization and it does have a pretty good app store, where if there's a feature that Shopify doesn't have, there's a pretty good chance you can find one of the apps in their store that will sort of offer bolt on functionality for the new feature that you are looking for. So, in conclusion, if you want to do direct sales as an indie author, should you use Payhip or should you use Shopify? And as so often in these cases there is no right answer, there is merely the tool that is best suited for your needs as an indie author and a small businessperson. If you want to be able to heavily customize the site, Shopify offers more options for that than Payhip. If you are primarily selling digital products like I am, then Payhip offers better value, because you can just go with the free tier and still make more money than you would selling for the same price off Amazon. Since I don't really at this time have any interest in selling physical products online, Payhip it is. That said, if you do want to sell printed books or your own merchandise direct, then Shopify is the way to go. But if you don't have any of that kind of stuff and you still want to keep your shop costs low, then Payhip is probably the better option for you since you can use their free tier. So that is a look at Shopify versus Payhip and if you are thinking about direct selling as an indie author, I hope you have found that helpful. So that is it for this week. Thank you for listening to The Pulp Writer Show. I hope you found the show useful and a word of thanks to my transcriptionist for helping me to pull together all the research for this episode. A reminder that you can listen to all back episodes of the show on https://thepulpwritershow.com. If you enjoy the podcast, please leave a review on your podcasting platform of choice. Stay safe and stay healthy and see you all next week. SPRINGELVES The coupon code is valid through May 14th, 2024. So if you need a new audiobook for spring, we've got you covered! TRANSCRIPT  

In this episode Grahame and Harriet discuss the basics of Value Added Tax. VAT is one of the most important taxes in the world and one of the least understood. It is paid by almost everyone in a way which is invisible to the end consumer. This is our first episode on indirect taxes and we look forward to discussing them further in coming episodes.

Ameer Jumabhoy, Cofounder of Utu, and Jeremy Au talked about three main themes: 1. Revolutionizing Tourist Value-Added Tax Refund Industry: Ameer delved into the complexities of the VAT refund process, highlighting that tourists typically reclaim only a portion (i.e., getting only $65 from a $100 tax refund on a $500 purchase) due to high processing fees from numerous entities involved in the refund process. He shared Utu's $33M Series B fundraise and mission to enhance the tax-free shopping experience by maximizing the refund value for tourists through partnerships that benefit all stakeholders involved, including tourists, retailers, and the government. 2. Pandemic Hard Choices: Despite the severe impact on the travel and retail sectors, Utu made the humanitarian decision not to lay off any staff despite the significant financial and operational cost. He underscored the leadership's commitment to their team and the long-term vision without compromising on their values. Utu had to strategically follow the reopening of global tourism city by city and travel corridor by corridor, e.g. the UAE deciding to launch the World Expo in 2021. He also talked about their acquisition of CardsPal and the launch of new services aimed at providing greater rewards for travelers with their evolving post-pandemic consumer behavior. 3. Personal Resilience With Family: Ameer recounted his experiences navigating professional responsibilities alongside personal challenges during the pandemic. He detailed the decisions to move across countries for family and work, emphasizing the importance of support systems. He shared his thoughts on how parenthood had shaped his perspectives on leadership and entrepreneurship. Jeremy and Ameer also talked about the rationale behind the current VAT refund system's inefficiencies, Utu's future product roadmap, and the significance of cross-border shopping trends.  Watch, listen or read the full insight at https://www.bravesea.com/blog/ameer-jumabhoy Nonton, dengar atau baca wawasan lengkapnya di https://www.bravesea.com/blog/ameer-jumabhoy-in 观看、收听或阅读全文，请访问 https://www.bravesea.com/blog/ameer-jumabhoy-cn Get transcripts, startup resources & community discussions at www.bravesea.com WhatsApp: https://chat.whatsapp.com/CeL3ywi7yOWFd8HTo6yzde TikTok: https://www.tiktok.com/@jeremyau Instagram: https://www.instagram.com/jeremyauz Twitter: https://twitter.com/jeremyau LinkedIn: https://www.linkedin.com/company/bravesea TikTok: https://www.tiktok.com/@jeremyau Instagram: https://www.instagram.com/jeremyauz Twitter: https://twitter.com/jeremyau LinkedIn: https://www.linkedin.com/company/bravesea English: Spotify | YouTube | Apple Podcasts Bahasa Indonesia: Spotify | YouTube | Apple Podcasts Chinese: Spotify | YouTube | Apple Podcasts Learn more about HDMall here:  htps://www.hdmall.co.th https://www.hdmall.id

California is strengthening protections for tenants. I discuss. It's already a disadvantageous state for real estate investors.  My Property Manager had my tenant's $1,550 rent payment stolen from his drop box last year. He expects me to take the loss. I won't. Who is liable for the payment - the thief, bank, tenant, manager, or the investor (me)? Tom Wheelwright, CEO of WealthAbility, joins me. We discuss the role of property tax in funding essential services.  The conversation touches on the regressive nature of property tax, alternatives to it, and the importance of understanding tax strategies. US taxes of all types keep ratcheting higher over time. But they're still lower than most world nations.  The episode also considers the impact of elections on tax policies, emphasizing the need for informed voting regarding taxation. You need a tax professional that knows how to find you all the deductions for real estate investors here: GetRichEducation.com/Tax Timestamps: Landlord-Tenant Relationships (00:00:00) Discussion on landlord-tenant relationships, stolen rent payment, and potential elimination of property tax. New Renter Protections in California (00:02:30) Overview of new laws in California regarding upfront deposit amounts, eviction protections, and banning of crime-free housing policies. Options for Homeowners in California (00:03:50) Details about new housing laws in California, including more options for accessory dwelling units and their impact on the housing crisis. Stolen Rent Payment Dilemma (00:05:53) Narrative about a stolen rent payment, liability concerns, and the property manager's proposed resolution. Feasibility of Eliminating Property Tax (00:13:45) Discussion on the possibility of abolishing property tax and its funding of schools, fire departments, and police services. Property Tax Funding (00:18:37) Insights into the funding of property tax and its allocation to schools, fire departments, and police services. Property Tax and Its Impact (00:19:37) Discussion on the challenges and implications of property tax as a wealth tax and its regressive nature. National Property Tax Rates (00:20:40) Exploration of the national average property tax rate and its impact on property value and inflation. Proposition 13 in California (00:21:34) Analysis of the impact and benefits of Proposition 13 in California, which limits property tax increases for homeowners staying in the same home. Alternatives to Property Tax (00:23:27) Exploration of alternative taxation methods, such as transaction tax and the potential elimination of property tax in favor of a transaction tax. Primary Residence Capital Gains Tax Exemption (00:25:16) Insights into the primary residence capital gains tax exemption and its impact on homeowners, including the need for inflation adjustments. Future Taxation Trends (00:27:24) Discussion on the potential for heavier taxation and comparisons with taxation policies in other countries. Potential New Tax Types (00:29:16) Exploration of the possibility of new tax types, including the concept of a poll tax and its implications. Value Added Tax and Tax Reduction Strategies (00:31:17) Insights into the potential implementation of a value-added tax in the United States and strategies for tax reduction through understanding the tax code. Selecting the Right Tax Advisor (00:33:00) Advice on choosing a qualified CPA and the importance of having a knowledgeable tax advisor for effective tax planning. Election Year and Taxation Policies (00:34:54) Analysis of the potential impact of the upcoming election on taxation policies and the importance of considering tax implications when voting. Property Tax and School Funding (end) Perspective on property tax funding for schools and the broader community impact, addressing objections to paying property tax. Property Tax (00:37:07) Discussion on the controversial nature of property tax and its impact on property ownership. Tax Strategy and Deductions (00:38:13) Importance of finding the right tax professional for real estate investors to maximize deductions and benefits. Disclaimer (00:39:25) Legal disclaimer regarding the information provided in the podcast and the need to consult appropriate professionals for personalized advice. Resources mentioned: Show Page: GetRichEducation.com/486 Get matched with the right tax pro: www.GetRichEducation.com/Tax Tom's book, “Tax-Free Wealth”: https://www.amazon.com/Tax-Free-Wealth-Massive-Permanently-Lowering/dp/1612681204 For access to properties or free help with a GRE Investment Coach, start here: GREmarketplace.com Get mortgage loans for investment property: RidgeLendingGroup.com or call 855-74-RIDGE  or e-mail: info@RidgeLendingGroup.com Invest with Freedom Family Investments.  You get paid first: Text FAMILY to 66866 Will you please leave a review for the show? I'd be grateful. Search “how to leave an Apple Podcasts review”  Top Properties & Providers: GREmarketplace.com GRE Free Investment Coaching: GREmarketplace.com/Coach Best Financial Education: GetRichEducation.com Get our wealth-building newsletter free— text ‘GRE' to 66866 Our YouTube Channel: www.youtube.com/c/GetRichEducation Follow us on Instagram: @getricheducation Keith's personal Instagram: @keithweinhold   Complete episode transcript:   Keith Weinhold (00:00:00) - Welcome to GRE. I'm your host, Keith Weinhold. California and new renter protections. My own property manager had my tenants rent payments stolen from his drop box, and he wants me to take the loss. Then Tom Wheelwright joins me for a discussion about can we abolish the property tax today on get rich education? If you like the Get Rich Education podcast, you're going to love our Don't Quit Your Daydream newsletter. No, I here I write every word of the letter myself. It wires your mind for wealth. It helps you make money in your sleep and updates you on vital real estate investing trends. It's free. Sign up and Get Rich Education. Com slash letter. It's real content that makes a real difference in your life, spiced with a dash of humor. Rather than living below your means, learn how to grow your means right now. You can also easily get the letter by texting GRE to 66866. Text GRE to 66866.   Speaker 2 (00:01:06) - You're listening to the show that has created more financial freedom than nearly any show in the world.   Speaker 2 (00:01:13) - This is get rich education.   Keith Weinhold (00:01:22) - Welcome to GRE! From Montpelier, France, to Montpelier, Vermont, and across 188 nations worldwide. And Keith Weinhold, in your listening to get rich education across the United States, it's fortunate for us that states with landlord friendly policies also tend to be those states where the numbers make sense to. And for landlord tenant relationships, it's the state and local policies that often trump the national ones. Now, of course, in residential real estate or any real estate for that matter. I mean, you can make money in all 50 states, of course, but there's a reason that we generally avoid certain places, and that includes California. One difficulty in California has long been the process of getting a prompt eviction. It can be hard to do that even if you have just cause, where it can take months and months, or even longer than a year to get an eviction. Let's listen in to this minute and a half clip on how tenants rights are being strengthened in California. Just a little more.   Speaker 3 (00:02:30) - Well, every month, renters in California spend a hefty portion of their paychecks on housing. And as we kick off, 2024, seven is on your side with the new laws. Renters should know to save some money and also protect themselves against eviction. Before you lock in an apartment, you usually need your first month plus a security deposit in advance. Well, now the amount you have to pay up front could potentially drop by thousands of dollars.   Speaker 4 (00:02:54) - Landlords can now charge just one month of security deposit up front, and previously they could charge two months if the unit was unfurnished or even up to three months of the unit was furnished.   Speaker 3 (00:03:05) - Renters are also getting new eviction protections. Soon, it will be harder for landlords to evict a tenant under the no fault, just cause policy. Currently, a tenant can be evicted if the landlord or landlord's family is going to move in, but starting April 1st, the landlord or their family will have to move in within 90 days and live there for at least a year.   Speaker 3 (00:03:24) - Local governments are also now banned from crime free housing policies. Cities and counties can't mandate penalties or evictions against people who have been charged, convicted or had police called on them. The ban also applies to the family members of tenants. Now, renters are not the only ones benefiting from the new housing laws. Homeowners will now have more options when it comes to so-called granny flats or accessory dwelling units.   Speaker 4 (00:03:50) - Now they can separate and either build or sell an Adu and accessory dwelling unit and sell that separately as a condo. Lawmakers think that that's something that's going to help the state's housing crisis.   Speaker 3 (00:04:02) - And with housing prices sky high, this could give many would be homebuyers the opportunity they need to afford a starter home.   Keith Weinhold (00:04:09) - Yeah. So there it is in California this year. Lower upfront deposit amounts for tenants and more protection from evictions. California landlords, they can now charge just one month of security deposit upfront. That's the most they can charge. Previously, they could charge two months if the unit was unfurnished and up to three months security deposit if the unit was furnished.   Keith Weinhold (00:04:36) - Now, on the flip side, you've got to give California credit for helping homeowners, existing homeowners. They will now have more options when it comes to so-called ADUs accessory dwelling units, which some people call granny flats, because now they can separate and either build or sell in Adu. They could sell that separately as a condo, and that might help California's affordable housing crisis and the housing shortage crisis that could give more California homebuyers the opportunity that they need to afford a starter home. So that is better for first time homebuyers in California. And whether you live there or not, this matters. California has the same population as all of Canada in between 11 and 12% of all US residents are indeed Californians. Let me tell you about a completely weird situation that I have with one of my property managers. Now, I own rental properties in different states around the US, and each of those local markets has their own manager, and you might have this situation as well. Or perhaps that's what you would soon like to do to have this situation of having properties in multiple markets.   Keith Weinhold (00:05:53) - Well, about 12 months ago now, I got a message from a property manager that manages a bunch of single family homes for me in this one particular area, and he let me know that I was not going to be seeing a rent payment for one of my tenants. And that's because the tenant paid the rent, but they paid it with a paper money order that was left in the manager's overnight drop box and the mail from that box. Was broken into by a thief and stolen. And then apparently the thief converted the money order at the bank by in this house. Unbelievable. By waiting out the name of the money order recipient, which I guess would have been the manager. And then the thief wrote in his own name on the Wite-out. Now there were three tenants that had their payments stolen from my property manager like this. So mine was one of the three from my tenant. And the thief also broke into two other real estate offices around the same time. So the thief broke into three offices total, apparently.   Keith Weinhold (00:07:01) - Now, the question that we're leading up to here is, I tell you more about this. Who is liable for this missing payment? And really, there are five parties here where you could give an answer. Is it the thief, the manager, the tenant, the bank or me? The investor who is liable for that stolen payment? Who should make good on it? Who will make good on it? Now, the amount that we're talking about is a stolen rent of $1,550. Okay. This is a rental single family home that I have. So I've been out this $1,550 for about a year now. And by the way, the tenant that had the rent payment stolen a full year ago, they still live there in their rent is now 1750, but it was 1550 them. Now I'm only making a thing of this a full year later and starting to ask my manager to make me whole now. And that's just because I've got a lot going on in life and $1,550. That's just not enough to make that big of a deal over.   Keith Weinhold (00:08:03) - But when life took a pause and I got to thinking about this some more, the principle of it is really bothersome. Wouldn't it bother you? I mean, if I let others like my manager get away with something like this, then I could get walked all over in other ways. Now, when I requested that the manager paid me because it was their drop box that it was stolen from, really, the only answer that they want to give me is that they can't pay because they don't have insurance to cover that type of loss. Well, I don't either. Now, should the bank be the liable party here for processing a payment where the pay to name was whited out, and then the criminal wrote over it with his name? And by the way, the criminal used his real name. And that's also part of how he got caught, which is unbelievable. And they also, though they do know who the criminal is because they have video surveillance of him at the bank depositing the money orders. I mean, how should he have been able to catch them? But the process of trying to get the criminal to remedy this or the bank to remedy this, those approaches have not worked.   Keith Weinhold (00:09:14) - And I think that the manager wants me to take the loss and pay because he doesn't want to take the loss. And you know, something? Admittedly, between the tenant, the manager and I, I'm probably the one that could most afford the loss, but that does not make it right now. At last, check the property manager who keeps refusing to pay up. They propose something ridiculous that I want to share with you in a moment. You're not going to believe it. Well, as you know, you have a written management agreement when you enter in an agreement to have your manager manage your property for you and that management agreement that's between you, the investor and your manager, just those two parties. And as we know, one job that your manager does for you is that they collect the rent for you. So I figured what I would go do is look at my management agreement, and I'm going to go cite that line where it says that the manager collects the money for the property owner.   Keith Weinhold (00:10:16) - But would you believe it? Nowhere in our agreement does it state that the manager collects the payment for the owner. So here's one lesson. The next time you're signing a new management agreement, see that that line is in there. I think it's just kind of easy to assume that it is. But, you know, those agreements, they're typically written by the property management company. So they might write it in ways that protect them. But here's the thing. The manager still doesn't want to pay $1,550 and was stolen from the drop box. They had proposed something that seems wild to me when I said I'm not going to let go. They told me that their plan is to ask the tenant to pay by adding an extra 150 or $200 to their monthly rent payment until the deficit is paid up. So that would be what, something like eight months of payments. Now, I doubt that the tenant would agree to something like that. If the manager is accepting rent in a drop box, it seems like it's the manager's responsibility to make sure that it's secured.   Keith Weinhold (00:11:20) - So to me, of the five parties involved here, it should be either the criminal, the bank for processing the payment that way, or the manager that should be held liable. One of those three parties, not the property owner and not the tenant. So you've got to believe that I consider firing this property manager and using someone else. And by the way, whenever you have to do that, if you ever do have to do that, and I've had to do it before, you can ask the provider that sold you the property for new property management recommendations, or you can find some new property managers by checking online forums with other clients that have actually used property managers. If you replace your manager. What that does is that your manager, they're going to lose more than just that 8 to 10% monthly management fee. They'd also lose future leasing fees. They lose any arrangements that they have with service providers to service your property, like plumbers and electricians. When it comes time for you to sell your properties that your manager manages for you, that manager might also lose the ability to collect referral fees at that, manager has the real estate license so you can make firing your manager hurt them more than you might think.   Keith Weinhold (00:12:40) - Now, I don't like hurting anyone in business. That's why I'm trying to find a constructive way to resolve this. But the manager has had a long time to make this right with me. They're probably just hoping I would forget about the whole thing. The property manager does not want to take the loss, and I will not either. I'll keep you updated on how this weird situation concludes here, but yeah. Hey, I'm an investor just like you. I want to dig in and get involved sometimes and see if something like a stolen rent payment happened with a stock that you own. I mean, you might take the loss there and you wouldn't even know that it happened. So I like real estate investing trends agency with a manager. I don't have the day to day involvement responsibility, but yet I can see a lot of what's going on with the monthly statements that they send me. Or if I have a concern, I know who I can directly contact to remedy something. And if you're a new real estate investor, please be mindful that this situation with my manager and the stolen rent payment is not typical at all.   Keith Weinhold (00:13:45) - In 20 years of doing this, I have never had a situation like this. In a few minutes here, we're going to discuss how feasible it is that America could eliminate the property tax altogether. And our guests. He's also going to tell us why he's been seeing more people like you paying tax on the gain from the sale of your primary residence. Hey, would you like to see me at breaking down real estate investing concepts on a whiteboard? Yes, a magic marker in hand with a whiteboard and an easel. Well, you can watch me do that from the comfort of your home. Over on our YouTube channel, we recently launched our explained series, and I begin it by breaking down basics and just showing you an actual net worth and actual cash flow statement, and then figuring out how you can take those and learn exactly when you can quit your job and retire. It's easier to do the numbers over there than it is here on an audio format, and later I'll whiteboard some more advanced concepts for you soon, like explaining an inverted yield curve.   Keith Weinhold (00:15:00) - Watch me on the whiteboard in our explained series. It is free on YouTube right now and our channel is pretty easy to find because it's called get Rich education. Eliminating the property tax. Next I'm Keith White hold. You're listening to get rich education. Role under the specific expert with income property, you need Ridge lending group and MLS 42056 in gray history, from beginners to veterans, they provided our listeners with more mortgages than anyone. It's where I get my own loans for single family rentals up to four Plex's. Start your pre-qualification and chat with President Charlie Ridge personally. They'll even customize a plan tailored to you for growing your portfolio. Start at Ridge Lending group.com Ridge lending group.com. You know, I'll just tell you, for the most passive part of my real estate investing, personally, I put my own dollars with Freedom Family Investments because their funds pay me a stream of regular cash flow in returns are better than a bank savings account up to 12%. Their minimums are as low as 25 K. You don't even need to be accredited for some of them.   Keith Weinhold (00:16:20) - It's all backed by real estate and that kind of love. How the tax benefit of doing this can offset capital gains and your W-2 jobs income. And they've always given me exactly their stated return paid on time. So it's steady income, no surprises while I'm sleeping or just doing the things I love. For a little insider tip, I've invested in their power fund to get going on that text family to 66866. Oh, and this isn't a solicitation. If you want to invest where I do, just go ahead and text family to six, 686, six.   Speaker 5 (00:17:02) - This is author Christine Tait. Listen to get Rich education with Keith Reinhold and don't quit your Daydream.   Keith Weinhold (00:17:19) - A renowned tax and wealth expert is back on the show with us today. He's also a CPA, and he's the CEO of a terrific tax firm called Wealth Ability. He's the best selling author of the Mega-popular book Tax Free Wealth, which you may very well want to check out again, because he just updated that book with a third edition. I have the original tax free wealth on my bookshelf.   Keith Weinhold (00:17:40) - Welcome back to Dr. Tom Wheelwright. Thanks, Keith. Always good to be on your show. Tom, we have a lot of real estate investors listening. Why don't we talk about property tax? It applies to one whether they own income, property or whether they own a primary residence. Tom, I thought about the discussion that we were going to have today. I was thinking about it yesterday. And you know what happened? I looked out my window and the garbage had just been picked up from the curb, and this was shortly after my driveway was plowed of snow. Okay, now, if an alien came down from another planet and we described that there's a property tax in the United States, so we'll probably believe, oh, all right. Well, they're going to like, pick up your trash and like, plow your driveway for you and everything for that property tax you pay. It's like, oh no. Well those are separate services that I pay. So really what I'm getting at is maybe more philosophically in big picture, should there be a property tax? That's a big question.   Keith Weinhold (00:18:37) - Yeah. But let's do talk about what property tax funds. So property tax funds schools. It's the primary funding mechanism of schools. If you talk to an old timer they still call it school tax sometimes. Yeah it funds schools. It funds fire departments. It funds the police. So those are the three big services that have funds. This is why, by the way, Keith, when there was that group in Seattle that took over that section of the city and the government refused to send to kick those people out. I don't know if you remember this a couple of years ago. And I'm going, wait a minute, why are we paying property taxes? Because the police force and the fire department were being paid by property taxes on the buildings that had been taken over by this renegade group. Wow. And so I have a commercial property. I pay a huge property tax on that commercial property doesn't house children, so I don't send children to school, but I still pay tax for education. Why? Because I need educated employees, so I'm happy to do that.   Keith Weinhold (00:19:37) - I pay for fire protection. I pay it for police protection. I think what the money is used for generally is fine. I don't have an issue with that. The challenge I have with the property tax is twofold. One is it is a true wealth tax. If your property goes up in value, you pay more tax and it's a tax on inflation, because if you're a property goes up in value because of inflation, you pay more tax. And then second of all, you're out to sell your property. But it's also a regressive tax. So people who have no more income, they're on fixed income, they're Social Security. They have a pension plan whatever that their property goes up because of inflation, not because it's a better property and they're paying more tax even though their incomes not going up. That's my biggest challenge with property tax. That's really a good point. I had never thought about it that way before. The property tax can be a regressive tax. Therefore you pay a higher rate with a lower income, which is what a regressive tax means.   Keith Weinhold (00:20:40) - I know that some jurisdictions try to help senior citizens out with that. Maybe you both say like the first 100 K of assessed property value is exempt. But yeah, on basis you're right about that. With it being a regressive tax. Tom, I kind of look around the landscape. We deal with a lot of markets and properties and providers nationwide here at gray, and I seem to see a national effect of property tax rate of about 1%, something like that's pretty common 1% of value on a 500 K property. You're going to pay about $5,000 in property tax. Of course, that varies substantially. New Jersey is a really high one. So the states in the Deep South are really low ones. But what are your thoughts about that 1% average national effect? Think about that tax rate. Let's say you bought that property for $50,000. You bought the property for $50,000 based on your income. You bought it for $50,000. Now, because of inflation, it's $500,000. Now it's really a 10% of what you bought it for.   Keith Weinhold (00:21:34) - So it's not really 1% anymore. It's 1% of the price value. It's not 1% of what you paid for it. This is where California with prop 13 they apt their property tax. Right. If you didn't move into a new property. I loved that proposition. Frankly, I love prop 13 because what I said was, look, if you're staying the same home, your property tax isn't going to go up. Because you get no more value out of it than you did when you bought it. So why are you getting more tax even though you're not getting more value? That makes no sense. I'm not a big fan. You know, like Texas has a they rely heavily on property. Remember we have three types of taxes. We have an income tax. We have a transaction tax which the biggest one is sales tax. But it's also excise taxes. And then we have property tax. And property tax and estate tax are the only two wealth taxes we have. And property tax is a true wealth tax.   Keith Weinhold (00:22:29) - Why is it allowed. Why can we have a property tax in our hometown. But we can't have a federal property tax because Constitution doesn't allow a federal property tax. But our state constitution probably does allow a state property tax. And so robbery taxes are really interesting. I talk about in tax free wealth. Tax wealth has a chapter on property sales and property tax. It's my least favorite tax because again A it's regressive and B it's a tax on something I've never realized. The only benefit I have is that I live in it. But that benefit's not gone up even though the property tax goes up. You brought up so many interesting things there. Sure, that proposition in California is what kept people staying in their homes for a very long time. But we think about property tax and should there even be one? As we ponder that big question, what do other nations do? Because a lot of times I know you look at foreign nations tax policies. Most localities. A lot of them have a local property tax.   Keith Weinhold (00:23:27) - I don't think it's uncommon. What's interesting to me is that Missouri is looking at getting rid of their property tax and putting in a transaction tax instead. So in other words, you don't pay a tax for owning the property. You only pay a tax when you sell it. Well, that actually makes more sense. You know, in previous episode we talked about more versus United States. We talked about that whole idea of a wealth tax and realized gain. And some states do this already. California does this, Hawaii does this, Pennsylvania does this where you have a tax when you sell the property, an excise tax when you sell the property, or a transfer tax, if you will? That makes some sense because you did get the money. You actually have the ability to pay the tax. It's not coming out of your earnings. It came out of the sale of the property. So it's a tax on the sale. Frankly, if I had to choose, I would probably choose the transaction tax.   Keith Weinhold (00:24:23) - I mean, I would choose to have very little tax. I think we need fire. We need police. Those two things we absolutely need we need roads. We should have taxes to pay for those school. I'm a fan of school choice. And should we have property tax pay for those? Or is that something that we ought to pay for some other way? I don't know, there is argument that, again, that should be maybe you ought to pay that out of sales tax or a transaction tax. Yeah. I think I'm feeling your vibe on that one time that a transfer tax of real estate is somewhat more palatable than this ongoing property tax that you have to pay, because the transfer tax probably is realizing a gain there. Along with that, even though we probably don't like that piled on top of ongoing property tax, for sure. We think about property taxes, something that applies to every homeowner, whether they own income, property or not, is the pretty well known primary residence capital gains tax exemption for quite a while.   Keith Weinhold (00:25:16) - That's been 250 K if you're single and 500 K if you're married. Can you tell us more about that and where the direction of that's going? And is that adjusting with inflation or what are your thoughts. Yeah, it's not adjusting for inflation unfortunately. It's interesting. Some things adjust for inflation. Some things don't. Tax brackets adjust the exclusion for your primary residence doesn't. And your deduction for miles driven for charity doesn't adjust for inflation. But your deduction for miles driven for work does adjust for inflation. So it's very interesting to see what does Congress say. We're going to adjust for for inflation. What they don't. That came into effect under Bill Clinton prior to his presidency. You had to actually put your new house, had to be worth more than your old house is very much like a 1031 exchange where as long as you bought a new house that was equal to or greater in price than the sales price of your old house, you paid no tax but the minute you went down. So when, for example, you're retiring and you decide, well, I don't need all this house, my kids are gone, I'm going to go move into a condo on the golf course, or I just don't need that much space.   Keith Weinhold (00:26:25) - Then you had to pay tax. What happened in the Clinton era was we actually got this exclusion, which is as long as you live in the house for two years, two out of the last five years, you get 100% exclusion on the gain, up to 250, like you said, 250 single, 500 joint. I would love to see them index that. I think it needs to be indexed. Frankly, they need to adjust it retroactively because too many people got caught in this last run up where for the first time ever, I saw a lot of people paying tax on the gain from the sale of their house. Yeah, that's something that you hope that you don't have to do. We'll see if and when they do adjust that for inflation. I'm not always talked about property tax bill. Why don't we open it up somewhat more and talk more about what we discussed the last time you were here on the show with us? Well, I think we already learned then whether Americans, just over time, over the long term, are more likely taxed or more heavily taxed.   Keith Weinhold (00:27:24) - It seems like they're always piling on more and more taxes. What are your thoughts with where we're going on lighter taxation or heavier taxation? I said, well, we rarely get taxed less. We're actually taxed less than just about any other country. Just to be clear, we pay a lower share of our income in taxes than just about any other country. But of course, we have much, many fewer benefits. We don't have national health care. We have Social Security, but it's a small amount, right. In France, remember, they had these big protests, right? Because the French president raised the retirement age from 62 to 64. Why were so many people protesting that? Well, it's because in France the salaries aren't enough to keep up. And so they're relying on that. They can't save up and say, I'm going to retire earlier because I've saved up money. There's not enough income for them to save. So they're relying on the government to save for them. That was a hard thing for them.   Keith Weinhold (00:28:18) - We have a hard time understanding that in the US because our tax rates are so much lower. France, for example, I was. Reading. That's the other day. 50% of GDP goes to taxes in France. In the US it's about 26% of GDP. So we're almost half of what percentage of our GDP goes to taxes. So they're the highest. What's happening is you're seeing Germany. There's this going up Korea. Theirs has gone up, Japan theirs has gone up. And the US, they expect ours to be up. It's 28% of GDP within a few years. So it's all relative, right. The problem is, is that the taxes are more and more as a proportion of our gross domestic product. If you think the government should stay out of our lives, then you're on the wrong end of that stick, because that means that the government's getting more and more involved, and more and more money is being spent by the government instead of the private sector. Well, Tom, you've been here on the show with us a lot of times.   Keith Weinhold (00:29:16) - We've talked about how your rental income gets taxed. We've talked about capital gains tax and property tax and sales tax and income tax, one tax type we haven't talked about. When we think about whether things just get worse as the government piles on more taxes, is there any threat in your mind of a tax for those that don't know what that is? That's basically a head tax. That's a tax that's imposed on you just for existing. Is that a possibility? Zionist capitation tax and not a decapitation tax. It might feel like one. Yeah. It's, uh, commonly called the poll tax write poll. As in poll. You go to the polls that the number of people that is actually allowed, the government could impose that that is allowed under a constitution, a poll tax. Great Britain has a poll tax. So it's not unheard of. I haven't heard a lot of people talk about. The problem is, is that a poll tax is a tax on voters. And we know politicians don't want to put a tax on voters.   Keith Weinhold (00:30:16) - Right. So where's the incentive to vote? They're more likely to put a tax on corporations who don't vote. I'll tell you the favourite tax. The favourite tax is to put a tax on out-of-towners. Somebody who's coming into your place like a travel tax. One of the key policy points of any tax unit is you want to export your tax to people who don't vote for you. So you're always trying to put the tax on somebody who doesn't can't vote for you. Because if you put on people who do vote for you, you will soon lose your job. Interesting point. That's why you see taxes on Ubers and taxis and hotels, resort taxes. You see those kind of tax skills are basically export tax, right? They're taxing people who don't live and vote in your state or in your location. A poll tax would be a tax on people who do live in your state or location. I have a hard time seeing that one coming down the line. More likely is you really wanted us to be more competitive with the rest of the world.   Keith Weinhold (00:31:17) - We'd have a value added tax in the United States, we do not have one. And if you wanted to make us more competitive with the rest of the world, if you really want to raise funds or you want to pay off the deficit, or you want to get rid of an income tax, the best way to do it would be a value added tax. Well, maybe you, the listener, just have a shred of a little something to be thankful for. There are tax types you've heard of that we don't actually have yet. There actually are some remaining. It seems like they'll all get used up. Europe has a. Europe uniformly has a 20% value added tax that just goes to increases the price of your meals at a restaurant, increases the price of every product you buy. That's a value added tax. That's a national sales tax that is common in the rest of the world. We're the only major developed country that doesn't have one. Well, at least in Europe, they're not asking that.   Keith Weinhold (00:32:06) - When you get your restaurant meal bill that you add a tip onto the tax about, like what's happening a lot of times here. And I think a lot of people aren't even aware of that. That's another absurdity. Yeah. Another absurdity of being a consumer in the United States today. Tom, you're really an expert in helping people understand that there are so many parts of the tax code out there for reducing one's taxes. The tax code, mostly most of the pages are about tax reduction. There are just a few pages about the tax tables. And then basically the rest of the tax code says you have to pay the tax in those tables if you don't do these other things. So tell us more about how one and everyday people can learn and get informed by being matched up with the right professional, so they can learn about all those exceptions to paying those taxes in the tables. I appreciate your promotion of tax free wealth because that's the starting point. You really do need to understand the concepts, and the concepts are all in tax free wealth.   Keith Weinhold (00:33:00) - Okay, so really inexpensive way for you to get an education. Once you've got the education though, you do need a team around you. And what I think the most important person, well outside of your bookkeeper, who I actually think is the most important person of that team, I think your number two person is your CPA. And I'm going to be very specific. There are a lot of people who hold themselves out as tax advisors, and I would not touch them with a ten foot pole. Whether it's I don't want a financial planner giving me tax advice, nor do I want a CPA, give me financial advice. Let's have a specialist do the specialist work. I don't want an enrolled agent. And the reason I don't want enrolled agent. If I'm really simple, that's great. But remember enrolled agent, they have very little education. They took a test. An IRS test that takes a couple of hours. That's all they did. If you're a business owner, you're a serious investor. You need a CPA and you need a CPA who cares more about you than they do about protecting themselves from the IRS.   Keith Weinhold (00:33:59) - This is one of my big complaints about some of my fellow CPAs is they seem to be so concerned about an audit. And my question is, if you're so concerned about an audit, does that mean you're afraid of the IRS? And if your CPA is afraid of the IRS, it's probably time to get a new CPA. That's right. Well, please, I tell you, we have a resource on our website where you can connect with Tom's team and get messed up with the right advisor. That is it. Get rich education complex. But like Tom said, a good thing to do is read his book, Tax Free Wealth first. That way you'll be able to ask the right questions so you can get the right answers from the right professional that you can be messed up with. Tom, do you have any last thoughts? Here is we're still relatively new in a year here when it comes to taxation, and one taking their plans forward through the year. Let's remember that we have an election coming up this year.   Keith Weinhold (00:34:54) - And one of the biggest issues in this election is going to be taxation. There's certain politicians that would like to take the 2017 tax reductions and extend them. There are others that would like to eliminate them and actually raise taxes. A couple of years ago, we had a proposal called Build Back Better. Great. Started as a $6 trillion proposal and ended up being $2 trillion and change the name to, quote unquote, the Inflation Reduction Act, or as I like to call it, the Inflation Enhancement Act. But that's going to be back. So you may love one party. You may hate the other party. Just know that when you go to vote, think about you are voting for a tax increase or a tax decrease depending on who you vote for. Look at their policies. Look at what they propose. Look at what they've been talking about. Don't believe for a second that they're gonna all of a sudden say, well, we're not going to raise taxes, when in fact they're looking at you and they're going, is that my money in your pocket? It is a presidential election year.   Keith Weinhold (00:35:59) - The good news is you now have a way for your voice to be heard this year in taxes are part of that, Tom. We're right. It's a great having you back on the show. Thanks, Keith. Sometimes I hear people that pay property tax but yet don't have any children themselves. They say that, well, since property tax often funds schools that they're opposed to paying it. Well, let's look at it this way. I'm a person that doesn't have any kids yet. And even if I never do have kids, well, when I was a kid myself, I attended public school. So therefore I was the beneficiary of adults paying property tax to fund the school that I went to. So therefore, when you think of it in those terms, it's more palatable for a, I suppose, non father like me to pay it forward, pass it along and pay school tax for others. So though there may be other objections to paying property taxes, not having children, that's often not such a valid reason when you think about it that way.   Keith Weinhold (00:37:07) - Now, I think that the Liberty First Society's Christian Hall, she has an interesting take on property tax. Here's what she said. And I quote, property tax should end when you complete the sale or purchase, just like you do when you buy groceries or a bicycle. It's theft of ownership to keep paying property taxes, especially when government has the authority to take your property. When you don't pay your taxes for three years. That's not property tax, that's rent, and you're a tenant in your own home. Property tax makes government the owner of your property, not you. End quote. And again, that is from the Liberty First Society's Chris Ian Hall, thought provoking, if nothing else. Now, when it comes to finding the right professional to get real estate investors, all of our generous and legitimate deductions that we enjoy, I mean, it is one of the five ways real estate pays. After all, you do need to find the right pro so that they can find all the deductions for you.   Keith Weinhold (00:38:13) - And this is just the time of year to get that right. For more than ten years now, I have had the world's number one tax firm do my wealth strategy, my tax strategy and my tax preparation. I even use my bookkeeper through them. They understand what real estate investors need. They make sure that I don't miss out on optimizing benefits and deductions for mortgage interest and tax depreciation and property tax and cost segregation, which accelerates my deductions. And they make sure I get infinite capital gains tax deferrals and bonus depreciation and so much more. All the good things that real estate investors get when you work with an investor centric tax professional. In this way, you can also legally write off many of your expenses for property management and maintenance and utilities and even your travel. So you can do that by connecting with Tom's team by visiting get rich education.com/tax. That is this week's actionable resource. Until next week I'm your host Keith White. Hold don't quit your day dream.   Speaker 6 (00:39:25) - Nothing on this show should be considered specific, personal or professional advice.   Speaker 6 (00:39:29) - Please consult an appropriate tax, legal, real estate, financial or business professional for individualized advice. Opinions of guests are their own. Information is not guaranteed. All investment strategies have the potential for profit or loss. The host is operating on behalf of get Rich education LLC exclusively.   Speaker 7 (00:39:53) - The preceding program was brought to you by your home for wealth building. Get rich education.com.  

The Secretary General of the Trades Union Congress (TUC), Dr Yaw Baah has said that Labor cannot accept the imposition of the 15% Value Added Tax on lifeline electricity consumers as it is inimical to workers' welfare.

In this week's Chairman's Report, Steve Hayes explains the similarities and differences between the FAIRtax and the Value Added Tax.

In the dynamic realm of business, whether steering a private enterprise or a non-profit organization aspiring to make a social impact, one constant looms large – taxes. Amidst the myriad of taxes, VAT, or the rather awkwardly named Value Added Tax, emerges as a distinct challenge, particularly when entwined with agency relationships. Today, on the I Hate Numbers Podcast, we embark on a journey to decipher the intricacies of VAT within the realm of agent relationshipsExploring Agency Relationships:As we delve into the podcast, we elucidate the essence of an agency relationship – a scenario where one acts on behalf of another. Drawing from our experience at I Hate Numbers, we often function as agents for numerous clients, engaging in conversations with tax authorities and handling tasks they might not have time for.VAT Unveiled:Moreover, VAT, a pivotal player in the tax landscape, manifests in different agency relationships. Two primary types, disclosed and undisclosed, dictate the buyer's awareness of the agent's role. In a disclosed agency relationship, transparency prevails, and the buyer is cognizant of the agent's representation. Conversely, in an undisclosed agency relationship, the agent operates more discreetly, with the buyer potentially unaware of the principal.Navigating VAT Responsibilities:The implications of VAT diverge based on the type of agency relationship. In an undisclosed agency setup, the agent shoulders the responsibility for the full VAT, charging it on the entire value of the transaction. Additionally, in a disclosed agency relationship, VAT obligations are limited to the commission, a more common scenario in the art world.Common Pitfalls and Best Practices:Consequently, amidst these intricacies, pitfalls often emerge. One common misstep involves failing to distinguish between collected funds and personal sales, leading to accounting headaches. Consequently, proper documentation and record-keeping become imperative, with contracts reinforcing the nature of agency relationships.Responsibilities of Principals:For principals, whether artists or performers, vigilance is key. Monitoring supply values is crucial, potentially triggering VAT registration. Simultaneously, robust paperwork clarifies responsibilities and safeguards against misunderstandings.Conclusion:In conclusion, we encourage agents and creative entities to seek assistance if navigating these waters seems daunting. Dive into our resources, stay informed, and elevate your financial literacy. Explore more on our website now. Don't miss our Free upcoming tax webinar on December 6th, offering insights into stress-free tax returns.This podcast uses the following third-party services for analysis: Chartable - https://chartable.com/privacy

jQuery(document).ready(function(){ cab.clickify(); }); Original Podcast with clickable words https://tinyurl.com/ykfy9lm3 Contact: irishlingos@gmail.com Budget 2024: some policies in place from midnight. Buiséad 2024: roinnt beartas i bhfeidhm ón meán oíche. Some of the policies of Budget 2024 came into effect from midnight last night after the Dáil voted in favor of raising the duty on tobacco and keeping the Value Added Tax on energy charges as it was. Tháinig cuid de bheartais Bhuiséad 2024 i bhfeidhm ón meán oíche aréir tar éis don Dáil vótáil i bhfabhar an dleacht ar thobac a ardú agus an Cháin Bhreisluacha ar tháillí fuinnimh a choinneáil mar a bhí. Petrol and diesel prices rose from midnight because the carbon tax was raised in the Budget from €48.50 to €56 per tonne. D'ardaigh praghsanna peitril agus díosail ón meán oíche mar gheall gur ardaíodh an cháin charbóin sa Bhuiséad ó €48.50 go dtí €56 in aghaidh an tonna. This means that €1.28 and €1.48 were added to every 60 liters of petrol and diesel respectively. Fágann sin gur cuireadh €1.28 agus €1.48 le gach 60 lítear peitril agus díosail faoi seach. On the contrary, it was announced yesterday that the carbon tax on other fuels and the duties on petrol and diesel would not be increased until next year. Os a choinne sin, fógraíodh inné nach n-ardófaí an cháin charbóin ar bhreoslaí eile ná na dleachta ar pheitreal agus ar dhíosal go dtí an bhliain seo chugainn. At the beginning of next May, 90 cents will be added to a 40 kilogram bag of coal and 20 cents to a normal pile of peat briquettes and it will cost people almost €20 more to fill a 900 liter kerosene tank. I dtús na Bealtaine seo chugainn, cuirfear 90 cent le mála guail 40 cileagram agus 20 cent le gnáthcharn brícíní móna agus cosnóidh sé beagnach €20 breise ar dhaoine tanc 900 lítear ceirisín a líonadh. RTÉ News and Current Affairs Nuacht agus Cúrsaí Reatha RTÉ

The South African unit of investment banking group Citibank is in the crosshairs of the SA Revenue Service (Sars) over the secondment of the company's offshore employees. The tax agency says this amounts to the importation of services and is subject to VAT. Business Day TV spoke to Mabutho Mthembu, Senior Manager for Value-Added Tax at SNG Grant Thornton for more insight.

Between 2010 and 2015, David served in the UK's Coalition Government as Chief Secretary to the Treasury, Schools Minister, and Cabinet Office Minister. Whilst Schools Minister he was responsible for policy areas including all capital and revenue funding, the Pupil Premium, accountability and policy on teachers and leadership.  Since 2015, David has been Chairman of the Education Policy Institute. In this episode we focus on narrowing the education gap between rich and poor and delve into various areas, including creating and communicating a strong evidence base, engaging with policymakers and the media, the possible introduction of Value Added Tax to independent schools, and quite a bit more. As someone who served as Schools Minister, David has key insight on how to engage with policymakers effectively and ensuring research reaches decision-makers at the right time. Translating and summarising complex research, and boiling it down to the policy impact, is actually not the challenging part. The bigger challenge is in ensuring policymakers take note of the research even when it doesn't align with their own views and, also, in ensuring research cuts right through policymakers' busy diaries and grabs their attention. Narrowing the education gap between rich and poor is one of David's key focus areas. He explains how in the UK we have some of the best universities in the world, but there is a tail of underachievement which is very long and highly associated with income and social class, which is the weakness of the UK education system. If we can close the gap between rich and poor we'd have an education system that would genuinely be one of the very best in the world. Thank you for downloading this episode of the Do One Better Podcast. Visit our Knowledge Hub at Lidji.org for information on 200+ case studies and interviews with remarkable leaders in philanthropy, sustainability and social entrepreneurship.   

In today's headlines: Prime Minister Phillip J. Pierre asks for co-operation regarding the Value Added Tax exemption policy, and eight United States Peace Corps volunteers are sworn in at a virtual ceremony.

In our continuing podcast series on the Finance Act, 2023, we focus on some of the Value Added Tax (“VAT”) changes that were proposed in the Act. Our indirect tax experts analyze the VAT changes.

Another unnecessary crisis averted. In this episode, Jen examines the debt ceiling crisis events of the past to show that the Fiscal Responsibility Act of 2023 - which raised the debt ceiling - is not likely to reduce our government's debt but will likely ensure that our environment will be trashed for profit. She also examines the best path forward to ensure that the debt ceiling is never used for political leverage again. Please Support Congressional Dish – Quick Links Contribute monthly or a lump sum via PayPal Support Congressional Dish via Patreon (donations per episode) Send Zelle payments to: Donation@congressionaldish.com Send Venmo payments to: @Jennifer-Briney Send Cash App payments to: $CongressionalDish or Donation@congressionaldish.com Use your bank's online bill pay function to mail contributions to: 5753 Hwy 85 North, Number 4576, Crestview, FL 32536. Please make checks payable to Congressional Dish Thank you for supporting truly independent media! View the show notes on our website at https://congressionaldish.com/cd275-debt-ceiling-2023-crisis-normalized Background Sources Congressional Dish Episodes CD261: Inflation Reduction Act CD257: PACT Act – Health Care for Poisoned Veterans CD151: AHCA – The House Version (American Health Care Act) CD049: Crisis… Postponed CD048: The Affordable Care Act (Obamacare) Debt Ceiling Overview “US debt ceiling - what it is and why there is one.” Natalie Sherman. Jun 2, 2023. BBC. “What Happens When the U.S. Hits Its Debt Ceiling?” Noah Berman. Last Updated May 25, 2023. Council on Foreign Relations. “A brief history of debt ceiling crises and the political chaos they've unleashed.” Raymond Scheppach. May 12, 2023. The Conversation. “Congress has revised the debt ceiling 78 times since 1960. An expert explains why.” Scott Simon and Lennon Sherburne. April 29, 2023. NPR. New Development Bank Ben Norton on Twitter New Development Bank on Twitter New Development Bank Website “BRICS New Development Bank de-dollarizing, adding Argentina, Saudi Arabia, Zimbabwe as members.” Ben Norton. Jun 8, 2023. Monthly Review Online. “NDB Board of Directors held its 40th meeting.” Jun 5, 2023. New Development Bank. Debt Limit History “The Debt Limit Through the Years.” Bipartisan Policy Center. “US government shutdown to end after Congress passes debt ceiling deal.” Paul Lewis and Dan Roberts. Oct 15, 2013. The Guardian. “S.& P. Downgrades Debt Rating of U.S. for the First Time.” Binyamin Appelbaum and Eric Dash. Aug 5, 2011. The New York Times. “Gingrich Vows No Retreat on Debt Ceiling Increase.” Clay Chandler. Sept 22, 1995. The Washington Post. 2023 Crisis “House Democrats Move to Force a Debt-Limit Increase as Default Date Looms.” Carl Hulse. May 2, 2023. The New York Times. “Can Congress Make an End-Run Around a Debt Limit Impasse? It's Tricky.” Carl Hulse and Jeanna Smialek. Apr 7, 2023. The New York Times. The Debt “2023 VAT Rates in Europe.” Cristina Enache. Jan 31, 2023. Tax Foundation. “National Debt: Definition, Impact, and Key Drivers.” Updated May 25, 2023. Investopedia. “Briefing Book: What is the Child Tax Credit?” Updated May 2021. Tax Policy Center. The Law H.R.3746: Fiscal Responsibility Act of 2023 Jen's Highlighted PDF CBO Estimate of Budgetary Effects Law Outline Division A: Limit Federal Spending Title I: Discretionary Spending Limits for Discretionary Category Sec. 101: Discretionary Spending Limits Sets spending caps for fiscal years 2024 and 2025 2024: Over $886 billion for defense Over $703 billion for non-defense Sec 102: Special Adjustments for Fiscal Years 2024 and 2025 If there is a continuing resolution in effect on or after January 1, 2024 for fiscal year 2024, or a continuing resolution for 2025 on or affect January 1, 2025, defense and non-defense spending will be sequestered, meaning a 1% across the board cut Title II: Budget Enforcement in the House of Representatives Explains how the House of Representatives must implement this law Title III: Budget Enforcement in the Senate Explains how the Senate must implement this law Division B: Save Taxpayer Dollars Title I: Rescission of Unobligated Funds Takes money back from accounts where it wasn't all spent including from: The Public Health and Social Services Emergency Fund The Centers for Disease Control and Prevention Specifically their COVID vaccine activities and vaccine supply chains All the money except $7 billion for COVID testing and mitigation All of the SARS-CO-V2 genomic sequencing money except for $714 million All of the money for COVID global health programs International Disaster Assistance funds for the State Department National Institutes of Health - National Institute of Allergy and Infectious Diseases Centers for Medicare and Medicaid Services Community health centers National Health Service Corps Nurse Corps Graduate level teaching health centers Mental health and substance use disorder training for health care professionals and public safety officers Grants for mental health for medical providers Funding for pediatric mental health care access Grants for survivors of sexual assault Child abuse prevention and treatment Medical visits at home for families State and local fiscal recovery funds Rural health care grants Restaurant revitalization fund Elementary and secondary school emergency relief funds Housing for people with disabilities Housing for the elderly Grants to Amtrak and airports Air carrier worker support and air transportation payroll support Title II: Family and Small Business Taxpayer Protection Sec. 251: Rescission of Certain Balances Made Available to the Internal Revenue Service Defunds the IRS by approximately $1.4 billion Title III: Statutory Administrative Pay-As-You-Go Requires agencies to submit plan to reduce spending in an equal or greater amount to every action they take that increases spending. This is easily waived and expires at the end of 2024.. Title IV: Termination of Suspension of Payments on Federal Student Loans: Resumption of Accrual of Interest and Collections Sec. 271: Termination of Suspension of Payments on Federal Student Loans; Resumption of Accrual of Interest and Collections At the end of September, people with Federal student loans will have to begin repayment of their loans, and the Secretary of Education is not allowed to implement an extension of the payment pause. Division C: Grow the Economy Title I: Temporary Assistance to Needy Families Orders reports about work requirements for welfare payments Title II: SNAP Exemptions Sec. 311: Modification of Work Requirement Exemptions In order to receive food benefits for more than 3 months in a 3 year period, "able bodied" people have to work at least 20 hours per week or participate in a work program for 20 hours per week unless that person is under 18 or over 50 years old, medically unable to work, is a parent with dependent children, or is pregnant. This provision increases the work requirement age over the next few years so it becomes 55 years old. This provision adds homeless individuals, veterans or foster kids until they are 24 to the list of people exempt from the work requirements This provision expires and the qualifications revert back to what they used to be on October 1, 2030 Title III: Permitting Reform Sec. 321: Builder Act Changes the requirements for NEPA environmental studies to include "any negative environmental impacts of not implementing the proposed agency action in the case of a no action alternative..." and requires only "irreversible and irretrievable commitments of FEDERAL resources which would be involved in the proposed agency action should it be implemented" Adds circumstances when agencies will not have to produce environmental impact documents Requires environmental impact statements when the action has a "reasonably foreseeable significant effect on the quality of the HUMAN environment." Allows agencies to use "any reliable data source" and says the agency is "not required to undertake new scientific or technical research unless the new scientific or technical research is essential to a reasoned choice among alternatives and the overall costs and time frame of obtaining it are not unreasonable." Assigns roles for "lead agencies" and "cooperating agencies" and says that the agencies will produce a single environmental document Sets a 150 page limit on environmental impact statements and 300 pages for a proposed agency action with "extraordinary complexity" Sets a 75 page limit on environmental assessments Requires lead agencies to allow a "project sponsor" to prepare environmental assessments and environmental impact statements under the supervision of the agency. The lead agency will "evaluate" the documents and "shall take responsibility for the contents." Environmental impact statements must be complete in under 2 years after the EIS is ordered by the agency Environmental assessments must be completed in 1 year The agency may extend the deadlines Project sponsors are given the right to take government agencies to court for failure to meet a deadline Sec. 324: Expediting Completion of the Mountain Valley Pipeline "Congress hereby ratifies and approves all authorizations, permits, verifications, extensions, biological opinions, incidental take statements, and any other approvals or orders issued pursuant to Federal law necessary for the construction and initial operation at full capacity of the Mountain Valley Pipeline." Gives the Secretary of the Army 21 days after enactment of this law to issue "all permits or verifications necessary to complete the construction of the Mountain Valley Pipeline across the waters of the United States" "No court shall have jurisdiction..." to review "...any approval necessary for the construction and initial operation at full capacity of the Mountain Valley Pipeline... including any lawsuit pending in a court as of the date of enactment of this section." Division D: Increase the Debt Limit Sec. 401: Temporary Extension of Public Debt Limit Suspends the debt limit until January 1, 2025 On January 2, 2025, the debt limit will automatically increase to whatever amount the debt level is at the end of the suspension Audio Sources Senate Session June 1, 2023 Highlighted Transcript Senate Session Parts 1 & 2 May 31, 2023 Highlighted Transcript Meeting: H.R. 3746 - Fiscal Responsibility Act of 2023 May 30, 2023 House Committee on Rules Watch it on YouTube Clips 22:50 Rep. Jason Smith (R-MO): I should note for my colleagues that Democrats could have raised the debt limit last year when they controlled the House of Representatives. 35:30 Rep. Ron Estes (R-KS): The Fiscal Responsibility Act finally ends the federal student loan moratorium and the so-called interest pause, effective August 31, 2023. For every month borrowers were allowed to skip payments, $4.3 billion were added to the American taxpayers debt. 41 months later, the moratorium has cost American taxpayers approximately $176 billion. 1:01:15 Rep. Joe Neguse (D-CO): The President put forward a budget months ago. Chairman Smith, do you know when the President submitted his budget to the United States Congress? Rep. Jason Smith (R-MO): I don't remember but it was -- Rep. Joe Neguse (D-CO): It was March 9th. Rep. Jason Smith (R-MO): It was late. It was due February 1st. Rep. Joe Neguse (D-CO): Oh, I'm glad you noted that. Chairman Smith, when did the Republicans submit their budget? Rep. Jason Smith (R-MO): You would need to ask the budget committee. Rep. Joe Neguse (D-CO): I would need to ask the budget committee. Mr. Estes. When did the Republicans submit their budget? [Pause] Only in the Rules Committee, by the way, could a witness lay blame at the president for being a few weeks late in submitting his budget when his party hasn't submitted a budget, period. 1:06:45 Rep. Brendan Boyle (D-PA): We also run the risk that we will one day not be the reserve currency of the world. The reason why our interest rates are so low comparatively, is because we are a safe haven for investment for the rest of the world. These sort of antics increasingly bring that into doubt whether or not folks will get their money, the folks who are lending to us. 1:24:15 Rep. Teresa Leger Fernandez (D-NM): Now, Standard and Poor's, they downgraded our credit rating. Have they increased that credit rating? Rep. Brendan Boyle (D-PA): No. There are three credit agencies Standard and Poor's, which was the one that downgraded us in 2011, never reversed their downgrade. And frankly my concern and the worry right now is that the other two credit agencies will now follow suit, given the events of the last couple of months, which obviously look very much like 2011 all over again. 1:50:55 Rep. Jim McGovern (D-MA): I continue to be stunned by the fact that when I look at this deal, which focuses on discretionary funding, that the people who seem to be asked to do the most or to absorb the hits the most are the people that least can afford it. The military budget is part of this discretionary budget, it's over 50% of the discretionary budget. The United States spends more on national defense than China, Russia, India, Saudi Arabia, United Kingdom, Germany, France, South Korea, Japan and Ukraine combined. And yet, if this moves forward, we see an increase in defense spending. I mentioned in my opening remarks, I don't know how many of you saw the 60 minutes piece the other day, I mean, we all know, of the cost overruns in the Department of Defense. I mean, the idea that we're spending $10,000 for a $300 oil switch. I mean, it's been there for a long time, and yet, we seem unable to want to grapple with that waste and those cost overruns. I don't know if it's the defense lobbyists or the campaign contributions or whatever it is, but somehow, when it comes to the military budget, you know, not only are we not holding them accountable, but you know, we say we're going to increase it even more, even more, we'll give you more. 2:57:40 Rep. Chip Roy (R-TX): Look, I'm for NEPA reforms 100%. We need them for road projects, transportation, particularly for our energy industry. But my concern here that we've got language that none of us have fully reviewed, going through the committees of jurisdiction that has been adopted, that I've got colleagues texting me and saying they're not 100% sure if that language is good or bad for the purpose intended. I've got colleagues on both sides of the aisle that have raised those questions. And so the purpose intended, of course, is to streamline projects, whatever those projects may be. But I've got a text right here from GOP colleagues saying, Well, I'm not so sure that these will actually do what we think they will do, to streamline said projects. And in fact, a former high up in the administration, in the Energy Department under the Trump administration, just validated that concern by one of my colleagues. Yet we are putting forward this measures saying some grand improvement with respect to NEPA, that that's somehow something we should be applauding when it's not the full package of H.R. 1, which had gone through committee. And importantly, the one thing that I think is 100% clear, is that this bill fails to include even the most basic reform to President Biden's unreliable energy subsidies that were put forward in the so called inflation Reduction Act for the wealthy, elites, corporations, and the Chinese Communist Party just to be blunt. And frankly, it ensures that permitting reform will likely benefit renewables the most. Basically, if you're a government that is subsidizing the crap out of something, in this case, unreliable energy, giving massive subsidies to billion dollar corporations, giving significant subsidies to families that make over 100,000, 300,000 for EVs, because you're chasing your your dreams of, you know, a fossil fuel-less world. You're going to absolutely decimate our grid because you're not going to have the projects being developed for the gas and the coal nuclear that are actually required to keep your grid functioning. But yeah, that's what we're doing and I just for the life of me can't understand why we're applauding that. 3:15:50 Rep. Jason Smith (R-MO): So we've been asking for the IRS to give us a plan of how they wanted to spend the additional $80 billion that they had. They finally gave that to Congress about six weeks, eight weeks ago. They broke down how they're spending the $80 billion: $1.4 billion of it was for hiring more agents and what the bill before you does, it eliminates that $1.4 billion for this year. House Session May 25, 2023 Highlighted Transcript House Session, Morning Hour, Parts 1 & 2 May 24, 2023 Highlighted PDF How the Pentagon falls victim to price gouging by military contractors May 21, 2023 60 Minutes The Rich Get Richer, Deficits Get Bigger: How Tax Cuts for the Wealthy and Corporations Drive the National Debt May 17, 2023  Senate Budget Committee Witnesses: Bobby Kogan, Senior Director, Federal Budget Policy, Center for American Progress Bruce Bartlett, Former Deputy Assistant Secretary for Economic Policy, United States Department of Treasury Samantha Jacoby, Senior Tax Legal Analyst, Center on Budget and Policy Priorities Dr. Adam Michel, Director of Tax Policy Studies, Cato Institute Scott Hodge, President Emeritus & Senior Policy Advisor, Tax Foundation Clips 32:25 Bobby Kogan: Today I intend to make two points. First, without the Bush tax cuts, their bipartisan extensions, and the Trump tax cuts, the ratio of debt to GDP would be declining indefinitely. And second, our rising debt ratio is due entirely to these tax cuts and not to spending increases. Throughout this testimony, When I say spending, I mean primary spending, that is spending excluding interest on the federal debt, and every mention of revenues, spending deficits, and debt means those amounts as a percent of GDP. Okay, according to CBO primary deficits are on track to stabilize at roughly 4% over 30 years, high enough to cause the debt to rise indefinitely. The common refrain that you will hear, that I heard when I staffed this committee, and that unfortunately, I expect to hear today, is that rising debt is due to rising spending. Revenues have been roughly flat since the 1960s and while spending was also roughly flat until recently, demographic changes and rising healthcare costs are now pushing the costs up. These facts are true. Our intuitions might reasonably tell us that if revenues are flat, and spending is rising, then the one changing must be to blame. But our intuitions are wrong. In CBO's periodic long term projections earlier this century, spending was projected to continue rising, but despite this CBO routinely projected long term debt stability, It projected revenues to keep up with this rising spending, not due to tax increases, but due to our tax code bringing in more as our country and the people in it prospered. That prosperity results in both higher revenue collection and higher real after tax income for the people whose incomes are growing, it is a win win. In other words, we used to have a tax system that would fully keep pace with rising spending. And then the Bush tax cuts were enacted and expanded, and then on a bipartisan basis eventually made largely permanent in 2013. Under the law dictating CBO and OMB's baseline construction, temporary changes in tax law are assumed to end as scheduled. In practice this meant that CBO is projection showed the Bush tax cuts ending on schedule with the tax code then reverting to prior law. 2012 was therefore the last year in which CBO is projections reflected the Bush tax cuts expiring. Yes, CBO's 2012 long term projections showed rising spending, but it also showed revenues exceeding spending for all 65 years of its extended baseline with indefinite surpluses, CBO showed debt declining indefinitely. But ever since the Bush tax cuts were made permanent CBO has showed revenues lower than spending and has projected debt to rise indefinitely. And since then, the Trump tax cuts further reduced revenues. Without the Bush tax cuts, their bipartisan extensions, and the Trump tax cuts, debt would be declining indefinitely, regardless of your assumptions about the alternative minimum tax. Two points explain this. The first employs a concept called the fiscal gap, which measures how much primary deficit reduction is required to stabilize the debt. The 30 year fiscal gap is currently 2.4% of GDP, which means that on average primary deficits over 30 years would need to be 2.4% of GDP lower for the debt in 2053 to be equal to what it is now. The size of the Bush tax cuts their extensions and the Trump tax cuts under current law over the next 30 years is 3.8% of GDP. Therefore, mathematically and unequivocally without these tax cuts, debt would be declining as a percent of GDP, not rising. 41:45 Bruce Bartlett: The reason I changed my mind about taxes and decided that we needed tax increases happened on a specific day that I'm sure Senator Grassley remembers, if nobody else. And that was the day in November of 2003, when the Medicare Part D legislation passed, and I was just, you know, at the time, I thought the reason Republicans, and I was a Republican in those days, were put on this earth was to control entitlement programs. And I was appalled that an entirely new entitlement program was created that was completely unfunded. It raised the deficit forever by about 1% of GDP. And I thought a dedicated tax should have been enacted, along with that program, which I didn't oppose and don't oppose. In fact, I benefit from it at my age. But I just think that we need proper funding. And that was when I first started saying we needed to raise taxes, because we just can't cut discretionary spending enough to fix the problem. And I think this is the error of the House budget, which cuts almost entirely domestic discretionary spending, doesn't even touch defense, and I just think that's extraordinarily unrealistic and an unserious approach to our deficit problem. We simply have to do something about entitlements. If you're going to control spending, control the budget on the spending side, I don't think we're going to do that. I think we need a new tax. I have advocated a value added tax for many years, as a supplement to our existing tax system. It creates, you can raise a lot of revenue from it every virtually every industrialized country has one. The money could be used to fix things in the tax code, as a tax reform measure. Once upon a time in the 70s, and even the 80s, it was considered the sine qua non of Republican tax policy, because it's a consumption based tax system, a flat tax, and now many Republicans are in favor of something called the Fair Tax which is very similar except that it won't work. Administratively it's poorly designed. The Value Added Tax will work and that's why it should be a better approach to these problems. 49:15 Samantha Jacoby: Wealthy people who get their income from investments accumulate large gains as those assets go up in value over time, but they won't owe income tax unless they sell their assets. And if they never sell, no one will ever pay income tax on those gains. That's arguably the biggest flaw in the tax code. Policymakers should consider a tax like President Biden's budget proposal to enact a minimum tax on very wealthy households. This would treat unrealized capital gains, which is the primary source of income for many wealthy households, as taxable income instead of letting income accrue tax free across generations. 54:15 Dr. Adam Michel: Keeping government small is the best way to ensure that the American people can continue to prosper. 58:45 Scott Hodge: There are many elements of the tax code that benefit the wealthy and big corporations, I absolutely agree, and the inflation Reduction Act is the most recent example of corporate welfare in the tax code. 1:01:00 Samantha Jacoby: So the the 2017 law, it dramatically changed the way that foreign profits are taxed of multinationals. And so what happens now is large corporations who have big, big foreign profit centers, lots of foreign profits overseas, they pay a lower tax rate on those foreign profits than they do on their domestic profits or purely domestic businesses pay. 1:02:55 Bruce Bartlett: And one of the things I tried to do in my prepared testimony is look at what has actually happened in the seven years since then. And very few studies, I know, some of the tests, the footnotes and my colleagues testimony or to our projections based on studies were done in 2017, 2018. I tried to find things that were written more recently, perhaps, or preferably, I should say, in the academic literature, which I think is more substantive and more dependable. And I looked at peer reviewed journals, and the data that I could find showed no macroeconomic impact whatsoever. It didn't raise growth, it didn't lower growth. And I think I concluded in that -- Sen. Sheldon Whitehouse (D-RI): It did shift wealth, correct? Bruce Bartlett: Excuse me? Sen. Sheldon Whitehouse (D-RI): It did shift wealth. Bruce Bartlett: Oh, absolutely. No question about that. But I'm more interested in the macroeconomic effect on investment and growth and employment. And I would just close by saying that if a tax cut had no positive impact, then it can't have any negative impact if you get rid of it. Now, you may not want to for other reasons.... 1:05:25 Bobby Kogan: Right. So our demographic changes and rising healthcare costs are the reason that spending is increasing. If you break spending into two categories, Medicare, Medicaid, Social Security, everything else, including the everything else entitlements, the everything else is shrinking as a percent of GDP and it's the Medicare, Medicaid and Social Security that are growing. And they are growing not because they are getting more, they're doing more, it's not because we're giving more and more to seniors, and to extremely poor people, but because it costs more to do the same. And that is the rising that is the demographics is changing the ratio of non workers to workers and there's also the rising health care costs. And so what this means is that if you want to spend less, you are necessarily saying that future seniors should be getting less of a benefit than they're currently getting. That's the only way to do it. Since that's the portion of the budget that's growing, if you want to cut that, you have to say that the current amount that we're doing for Social Security recipients, the current amount that we're doing for seniors, the current amount that we're doing for people on Medicaid is too much, and future people should be having less. That's the only way to do it. And, you know, the very nice thing that I had though, ii my testimony, we used to have a tax system that despite that rising, we keep up with that, and now we don't. 1:15:50 Bruce Bartlett: Well, first of all, I think in terms of tax shelters and tax evasion and extreme levels of tax avoidance, the problem isn't so much with the law as with the enforcement. And as you know, it's been the policy of Republicans to slash the budget of the IRS in real terms, for many years, which is a way of giving, privatizing tax avoidance to rich people and the rich individuals have the greatest power and ability to evade taxation. And I think it was really wonderful that the Congress increased the IRS budget, and I think it's just the height of absurdity that one of the major elements of the House Republican proposal is to slash the IRS budget again, even though the CBO has said this is a revenue losing proposition. 2:06:40 Bruce Bartlett: I think there's absolutely no question that the debt limit is unconstitutional, and not just under the 14th Amendment, section four, but under the general powers of the President. I mean, one of the things that I will point out is that the debt limit is a very serious national security issue. A huge percentage of the national debt that is owned by foreigners is owned by foreign central banks. They are not going to be happy if their assets are suddenly worth a great deal less than they thought they were. I think the President has full power within his inherent authority to simply declare the debt limit null and void. And I would point out that it's not a simple question of whether you just break the debt limit. I think a lot of people, even on this committee, forget the impoundment part of the Budget Act of 1974, which says the President must spend the money that is appropriated by law, he doesn't have the choice not to, which is what some Republicans seem to think that he can do. And he lacks that power. So I would agree that the President has that power. I wish he would use it. I wish it as sincerely as anything I believe in life. Thank you. Senate Session May 16, 2023 Highlighted PDF House Session May 16, 2023 Highlighted PDF Senate Session May 15, 2023 Highlighted PDF House Session May 10, 2023 Highlighted PDF Senate Session, Parts 1 & 2 May 19, 2023 Highlighted PDF Senate Session May 9, 2023 Highlighted PDF Senate Session May 4, 2023 Highlighted PDF Senate Session, Parts 1 & 2 May 2, 2023 Highlighted PDF Music Tired of Being Lied To by David Ippolito (found on Music Alley by mevio) Editing Pro Podcast Solutions Production Assistance Clare Kuntz Balcer

Tax and Accounting Specialist Gustavo Morales chats with us about the tax and legal implications of investing in Costa Rica and how best to navigate the tax code in Costa Rica.  We talk about Capital Gains Tax, Value Added Tax, Corporation Tax and the required annual filings in Costa Rica.Contact us: info@investingcostarica.comGuest today: Gustavo Morales: Admin@accountingscr.comWebsite:  http://www.accountingscr.com/

In this latest Fiji news: Minister for Finance Prof Biman Prasad says they have not made any decision on increasing the Value Added Tax; The Crown Princess of Denmark Mary Elizabeth is in the country and has commended the resilience of villagers in Nabavatu, Dreketi in Macuata

It's 50 years since Value Added Tax was introduced, and it's been a political football ever since. Matt discusses Jaffa Cakes, the pasty tax and the omnishambles budget with experts, campaigners and the former boss of Greggs.Plus: Columnists Manveen Rana and Matt Dathan discuss food fraud, when to get a heat pump and why there are so many parking apps. Hosted on Acast. See acast.com/privacy for more information.

The Federal Government has raked in N10.1tn from the collection of Value Added Tax under the regime of President General Muhammadu Buhari. The National Bureau of Statistics showed that VAT earnings continued to rise annually throughout the eight-year period. The country earned N759.4bn in 2015, N777.5bn in 2016, N972.4bn in 2017 and N1.1tn in 2018. VAT collections in 2019 amounted to N1.2tn, N1.5tn in 2020, N2.1tn in 2021 while N2.5tn was paid in 2022.This show is part of the Spreaker Prime Network, if you are interested in advertising on this podcast, contact us at https://www.spreaker.com/show/4090160/advertisement

Telecommunication consumers under the aegis of the National Association of Telecoms Subscribers have dragged the Federal Government to court over its plan to implement a five percent excise duty on telecom services. The National President, NATCOMS, Adeolu Ogunbanjo, says the suit is against the imposition and implementation of excise duty and the continued imposition and implementation of Value Added Tax on telecom services. The suit is praying the court declare VAT on telecom services as unconstitutional and illegal, and declare the implementation of excise duty on telecoms as null and void. The Minister of Finance Budget and National Planning, Zainab Ahmed, the tax will help boost the government's revenue.This show is part of the Spreaker Prime Network, if you are interested in advertising on this podcast, contact us at https://www.spreaker.com/show/4090160/advertisement

During your Ireland vacation you'll have dozens of opportunities to purchase Ireland souvenirs and gifts. My advice? Buy items that will keep memories of your trip fresh for years to come. An added bonus when purchasing Ireland souvenirs – the Value Added Tax refund you receive as you leave the country. After years of traveling […] The post Ireland Shopping Tips – Best Souvenirs & the VAT | Traveling in Ireland Podcast Episode 142 appeared first on Ireland Family Vacations.

In this episode Scott and Jeff discuss Sales Taxes with Whitney Afonso. We discuss sales tax basics, including the difference between who remits the tax and who bears the burden of the tax. We discuss the purposes of sales taxes. We discuss the regressivity of sales taxes. And we discuss how even Fancy Nancy had to deal with the unexpected pain of sales taxes in Shoe-la-la!

In this Prime Talk Podcast Sponsored by GETIDA – Raminta Stasionienė - CEO of 1StopVAT - talks about solutions for the complexities of VAT, also more information about her life's journey. #RamintaStasionienė #1StopVAT About Raminta Stasionienė of 1StopVAT - https://www.1stopvat.com If your digital growth goes globally, you are on the hook for Value Added Tax as you must charge VAT during the sale and pay VAT at customer's location. 1StopVAT offers complete automated solution for e-commerces to be VAT compliant. Find out more about GETIDA: https://getida.com/ Please subscribe to our channel and share your thoughts and comments below. Stay safe and healthy in the meantime!

Eknath Shinde announced the state government had decided to cut value added tax on petrol prices, Tamil Nadu chief minister MK Stalin was admitted to Chennai's Kauvery hospital, The new grouping of India, Israel, the UAE and the US is set to unveil a $2-billion food security initiative and other top news in today's bulletin.

The main Mozambican trade union federation has denounced the government's plans for passenger transport, in unusually strong language. The OTM General Secretary, Alexandre Munguambe, says the government's promise of a passenger subsidy is just a way of entertaining the public and the Famba Card is unworkable. He says the OTM wants a reduction in the Value Added Tax paid on basic goods and fuel. Munguambe pointed out that none of the country's minimum wages come anywhere near covering the cost of a basic package of goods and services.

jQuery(document).ready(function(){ cab.clickify(); }); Original Podcast with clickable words https://tinyurl.com/22awco77 29% of households struggling with energy bills. 29 faoin gcéad de líonta tí ag streachailt le billí fuinnimh. 29% of households in the State are struggling with energy costs, according to a new report from the Economic and Social Research Institute. Áirítear 29 faoin gcéad de líonta tí sa Stát a bheith ag streachailt le costais fhuinnimh, de réir tuarascála nua ón Institiúid Taighde Eacnamaíochta agus Sóisialta. These are households that spend more than 10% of their net income on energy, excluding petrol and diesel. Líonta tí iad seo atá ag caitheamh níos mó ná 10 faoin gcéad dá nglanioncam ar fhuinneamh, seachas peitreal agus díosal. Never before have so many households been recorded as being energy scarce. Níor taifeadadh an oiread teaghlach a bheith i dtearc-chuid ó thaobh cúrsaí fuinnimh de riamh. The highest percentage previously recorded was 23% in 1995. 23 faoin gcéad an céatadán ab airde a taifeadadh roimhe seo agus b'in sa bhliain 1995. Over fifteen months - between January 2021 and April 2022 - the average household's energy costs have risen by € 21 a week. In imeacht cúig mhí dhéag - idir Eanáir 2021 agus Aibreán 2022 - tháinig ardú €21 sa tseachtain ar chostais fhuinnimh an mheánteaghlaigh. If petrol and diesel are included, it was an increase of almost € 39 a week. Má chuirtear peitreal agus díosal san áireamh, ardú beagnach €39 sa tseachtain a bhí ann. The report claims that the number of households struggling with energy costs could rise - in line with the current trend - to 43% a year. Maítear sa tuarascáil go bhféadfadh líon na dteaghlach atá ag streachailt le costais fhuinnimh ardú - de réir na treochta atá ann faoi láthair - go 43 faoin gcéad amach sa bhliain. As low-income earners are most recommended, the report recommends the introduction of policies to relieve them, such as raising social welfare payments and giving them a one-off sum. Mar gheall gur daoine ar bheagán fáltais is mó atá thíos leis, moltar sa tuarascáil beartais a thabhairt isteach le fóirithint orthu, leithéidí íocaíochtaí leasa shóisialta a ardú agus suim airgid aon uaire a thabhairt dóibh. It is said that such policies - aimed at the poorest in the State - would be better than reducing Value Added Tax or fuel duties, which would also benefit people who are well off. Deirtear gurbh fhearr beartais den sórt seo - a bheadh dírithe ar na daoine is boichte sa Stát - ná leithéidí Cáin Bhreisluacha nó dleachtanna breosla a laghdú, ar bheartais iad a mbainfeadh daoine atá go maith as sochar astu chomh maith. According to one of the report's authors, Dr Barra Roantree, not everyone can be helped and low - paid, rural households and the elderly must be given priority. Dar le duine d'údair na tuarascála, an Dr Barra Roantree, nach féidir teacht i gcabhair ar gach dream agus go gcaithfear tús áite a thabhairt do dhaoine atá ar phá íseal, líonta tí faoin tuath agus do sheandaoine. Speaking on RTÉ, Sinn Féin finance spokesman Pearse Doherty said the report made it clear that it was time for the Government to put in place an emergency budget to help those in need. Ag labhairt dó ar RTÉ, dúirt urlabhraí airgeadais Shinn Féin Pearse Doherty go léiríonn an tuarascáil go follsach go bhfuil sé in am ag an Rialtas buiséad éigeandála a chur i gcion le cuidiú leis na daoine a bhfuil an drámh orthu.

Responding to a petition and also to the worsening air pollution in Delhi, the Supreme Court had in 1998 directed that all the buses, taxis and auto rickshaws will have to switch to CNG.  The apex court had also ordered the setting up of 70 CNG stations to meet with the increased demand. After initial hiccups -- which included a waiting time of over 10 hours at CNG stations-- the national capital finally took the leap of faith. And by 2021, it claimed to have the “cleanest public transportation system”. Apart from the reduced pollution, another big reason for vehicle owners for switching to CNG was the huge difference in operating cost of the vehicle. But, over the years, the gap has narrowed down substantially. On Saturday, the central government slashed central excise duty on petrol by Rs 8 per litre and on diesel by Rs 6 a litre, providing much-needed relief to households that have been hit by 8-year high inflation. The same day, Indraprastha Gas, which retails CNG in the national capital and adjoining cities, hiked the fuel's price by Rs 2 per kg to Rs 75.61. This was the 13th increase since March 7. In all, the CNG price has risen by Rs 19.60 per kg or 35% during this period. And in the last one year, prices have increased by Rs 32.21 per kg or 60%, according to data compiled by news agency PTI. IGL Managing Director Sanjay Kumar said the prices are likely to remain elevated in the near future due to high international prices of natural gas. Similarly, Mahanagar Gas which supplies CNG to Mumbai and its suburbs, increased the MRP of CNG by Rs 4 per kg on April 30 to Rs 76 on April 30.  While hiking retail prices, Mahanagar Gas cited historically high cost of regasified LNG which is being blended with domestic gas to offset the shortfall in the availability of domestic gas for CNG and PNG segments.  The company also cited the rise in the prices of locally produced gas. The Centre had raised the price of locally produced gas from old fields for April-September to a record high of $6.1 per million metric British thermal units (mmBtu), an increase of 110% from $2.9/mmBtu. But Mahanagar Gas said that the revised price still offered savings of about 57% and 27% as compared to petrol and diesel respectively at the current price levels in Mumbai. The Maharashtra government had on April 1st reduced the Value Added Tax on CNG from 13.5% to 3% providing relief of 6.00 rupee per kg. But the relief was short. Following the recent fuel price relief, the Society of Indian Automobile Manufacturers said the auto industry is keenly looking forward to similar support on CNG prices in order to help the common man, facilitate public transport and enable a cleaner environment.     For instance, Delhi's public transport, including cabs, autos, taxis and buses, is majorly CNG driven. Around 1 lakh auto rickshaws and a similar number of taxis are currently plying in Delhi, which levies no VAT on CNG.  Various auto-rickshaw, cab and taxi unions have been demanding a hike in fares and slashing of CNG prices to offset the impact of rising fuel prices. Sourav Mitra, Director - Energy, CRISIL, said international gas prices are at very high levels due to the war in Ukraine, adding that domestic prices may go up further in the second half of this fiscal to as much as $8.5/mmBtu. Mitra says the Centre can consider reducing the excise duty on CNG from 14% while states have the option to cut VAT. The industry has been demanding that natural gas be brought under the ambit of GST. And why should consumers expect a breather on the CNG front? According to Sourav Mitra, CNG usage has been growing strongly, even in Tier 2 and 3 cities and any positive direction by govt will encourage use of CNG as a clean fuel. PTI reported in April that the oil ministry has stopped making a fresh allocation of natural gas from domestic fields to the city gas sector, leading to a hike in CNG and piped cooking gas prices to rec

The Federation Accounts Allocation Committee has shared N695.03 billion to the three tiers of government as revenue for February amid plans by the Nigerian National Petroleum Corporation limited to deduct N242.53 billion for subsidy. The FAAC Director Information, Mr. Olajide Oshundun, says the Federal Government received N236 billion, the states received N190 billion, the Local Government Councils got N140 billion, while the oil-producing states received N23billion as derivation and Cost of Collection received N23 billion and Transfer/ Refunds got N80 billion. Oshundun noted that the Gross Revenue available from the Value Added Tax for February 2022 was N177 billion as against N191 billion distributed in the preceding month of January 2022, resulting in a decrease of N13 billion. It also revealed that Petroleum Profit Tax increased significantly, while Oil and Gas Royalties increased marginally.

(Get Surfshark VPN at https://surfshark.deals/MOXIE - Enter promo code MOXIE for 83% off and 3 extra months free!) T-shirt for Ukraine, all proceeds and matching donation to Ukraine Red Cross at yourbrainonfacts.com/merch Who you gonna believe -- me or your lying eyes?  Today we look at court cases where people try to avoid taxes by arguing that things aren't the things that they clearly are. 00:50 Tomato 08:18 Jaffa Cakes 17:48 Hydrox vs Oreo 37:40 X-Men Links to all the research resources are on the website. Hang out with your fellow Brainiacs.  Reach out and touch Moxie on Facebook, Twitter,  or Instagram.  Become a patron of the podcast arts! Patreon or Ko-Fi.  Or buy the book and a shirt. Music: Kevin MacLeod,  Want to start a podcast or need a better podcast host?  Get up to TWO months hosting for free from Libsyn with coupon code "moxie."   We like labels, as humans we like labeling things.  Taxonomy is the branch of science concerned with classification and there used to be several inconsistent and sometimes conflicting systems of classification in use.  Then came Carl Linneaus and his influential “Systema Naturae” in 1735, laying down the system we use to this day.  Linnaeus was the first taxonomist to list humans as a primate, though he did classify whales as fish. Years later, a New York court agreed with him.  My name's… D&D Stats Explained With Tomatoes Strength is being able to crush a tomato. Dexterity is being able to dodge a tomato. Constitution is being able to eat a bad tomato. Intelligence is knowing a tomato is a fruit. Wisdom is knowing not to put a tomato in a fruit salad. Charisma is being able to sell a tomato based fruit salad.   TOMATOES So that's more clear, but it raises a rather mad –and for some, maddening– question: Is the tomato a fruit or a vegetable?  Well, yes, it's both, but actually no.  Botanically, it's a fruit. But legally, it's not.  A fruit is technically the seed-bearing structure of a plant whereas a vegetable can be virtually any part of the plant we eat.     Things must have been slow in March of 1893, because this definition was set by the Supreme Court.  The issue at hand was tariffs, specifically a 10% tariff on the import of vegetables into the United States.  Just veggies.  Imported fruits were not.  This was of particular interest to John Nix of Manhattan.  He ran a produce wholesale business along with his four sons and found himself the proud owner of an enormous tax bill on a shipment of Caribbean tomatoes.  John Nix & Co. were one of the largest sellers of produce in New York City at the time, and one of the first companies to bring the Empire state produce from such far-flung places as Florida and Bermuda.  Nix disputed the tax on the grounds that tomatoes were scientifically-supportably fruit.  Full of seeds, ain't they?  That's the part that seems to turn grown adults into fussy toddlers when their burger has a tomato despite their very clear instructions.  Worse than the anti-pickle crowd.  Anyway, Nix filed a suit against Edward L. Hedden, Collector of the Port of New York, to get back the tax money he'd been forced to pay under protest.    The crux of Nix's case was the opening of an uninspired speech -  counsel read the definitions of the words "fruit," "vegetables," and tomato from Webster's Dictionary, Worcester's Dictionary, and the Imperial Dictionary.  Judgment for the plaintiff, case closed!  But wait, there's more.  Not to be outdone, defendant's counsel then read into evidence the Webster's definitions of the words pea, eggplant, cucumber, squash, and pepper.  Oh, it's on now! Countering this, the plaintiff then read in the definitions of potato, turnip, parsnip, cauliflower, cabbage, carrot and bean.  That's when, I assume, all hell broke loose in the courtroom and perhaps a giant musical number broke out.  Just trying to jazz it up a bit.  Nix's side called two witnesses, not botanists or linguists, but men with a lot of years in the fruit & veg business, to say whether these words had "any special meaning in trade or commerce, different from those read."   The supreme court decided to look more practically and less pedantically at the situation and ruled that it's how a tomato is used that makes it a vegetable, not the official scientific definition.  If people cook and eat them like vegetables, then vegetables they must be, and so they were subject to the tariff.  “Botanically speaking, tomatoes are the fruit of a vine, just as are cucumbers, squashes, beans, and peas,” wrote Justice Horace Gray in his 1893 opinion. “But in the common language of the people, whether sellers or consumers of provisions, all these are vegetables.”     What was really important about Nix's case was the timing.  We're talking late Victorian, after the age of sail had been obviated by the steam power of the industrial revolution.  You might have heard about it, it was in all the papers.  Ships could now cross the Atlantic in 1-2 weeks, rather than the 6-12 weeks it took in a century prior.  Foods from the tropics could now reach New England in a week or less, making their import a viable option.  This was when bananas went from being expensive oddity to must-have trend to staple of every grocery store, though that was the Gros Michelle banana, the one our fake banana flavor is based on, not the Cavendish banana we eat today, but that's a topic for another show.  To service the evolving tastes of urban population, a new class of national wholesalers, such as the Nixes, were born.   The tomato's identity crisis was far from settled, though.  In 1937, the League of Nations, precursor to the UN, sought to classify various goods for the purpose of tariffs and they too labeled tomatoes a veggie, putting them under the heading of “vegetables / edible plants / roots and tubers.”  Not to be left out, the U.S. Department of Agriculture agreed, citing 1890s Nix v. Hedden case.    But there are always exceptions, hold-outs, outliers, and just plain contrarians.  Tennessee and Ohio made the tomato their state fruit.  If you think that's silly, you might want to swallow your coffee before I tell you the state vegetable of Oklahoma is the watermelon.  I did not care to look into their reasoning.  The European Union went a step further with a directive in December 2001 classifying tomatoes as fruit — along with rhubarb, carrots, sweet potatoes, cucumbers, pumpkins and melons.  It's bad enough all prepackaged fruit bowls have some form of melon in them (which causes me instantaneous reverse peristalsis), but it you gave me a fruit salad and it had cucumbers in it, I have a parking lot and I'll fight you in it.   But I think I'll give the last word to George Ball of the Burpee's seed and plant company: “Are [tomatoes] fruits? Of course,” he said. “Are they vegetables? You bet.”  Though Burpee's does put “vegetable” on the seed packet, so maybe it's not settled after all. JAFFA CAKES Maybe things that grow are too ephemeral for man's taxonomy.  Things are a lot of simpler when we're talking about man-made goods, things that don't grow on trees, and it is only a tragedy that you can't plant an entire orchard of Jaffa cake trees.  For those whose life has not yet contained this job, a Jaffa cake it a little round of dense yellow cake –sponge, as they say in the home counties– with a disc of orange jelly on top enrobed in chocolate.  It.  Is.  So. Good.  You can sometimes find them in big grocery stores like Kroger and Publix if they have a large enough “International” aisle stock Branston pickle along with pad thai sauce and Tajin.   This issue here it again taxes, but this time VAT.  For those that don't speak British, VAT or  Value-Added Tax is “A type of consumption tax that is placed on a product whenever value is added at a stage of production and at final sale.”  Basically sales tax cranked to 11.  VAT is a tax that is paid by everyone involved with the manufacture of a given object or foodstuff, as well as the consumer.  As I go to air, the VAT rate in the UK is 20%.  If you're a UK-based widget-maker, you pay VAT on the price of the raw materials.  When you sell the widgets wholesale to a store, the retailer pays VAT on that sale.  Then, when someone comes into the shop to buy one of your cutting-edge widgets, they pay VAT too.       As with most areas of life, there are exceptions –  a number of things are subjected to a reduced 5% rate and some things are exempt altogether.  The exceptions are for the really necessary things, like mobility aids, menstrual hygiene products, stamps, end of life care, and most food, including cake.  That's some grade A foreshadowing right there.  But some foods are just so wonderful, they absolutely must be taxed and taxed fully.  Such luxury items include alcohol, mineral water, confectioneries and, with the specificity that all governments seem to love, chocolate-covered biscuits.  Regular biscuits are apparently basic essentials.  No, American listeners, not like buttermilk biscuits, because even I'd have to think twice about covering one of those in chocolate.  Whereupon I would do it.  I could make that work.  You're talking to the chick that made a startling good roasted garlic and parmesan ice cream.  No, British biscuits are cookies.  And British listeners, don't at me on soc meds with the definition of biscuit, because you know you're not consistent with it.  The only word that's more confusing is pudding.  Is that a dessert course, a sausage made of 80% blood, a flambeed Christmas dessert, or a suet dough stuffed with beef and veggies and steamed for eight hours?  While I'm on British language, Cockney rhyming slang has got to be the worst thing…   The McVities company had a notion otherwise.  They appealed, prompting a Customs and Exchange VAT tribunal.  Jaffa cakes, they said, shouldn't be taxed at the “most food” 20% rate, but at the 5% rate of chocolate-covered biscuits.  It takes a lot of brass to make that claim when you yourself named the product Jaffa *cakes. [tiktok] origin story] According to the website for Her Majesty's Revenue and Customs, the court first had to establish a legal definition of what made a cake a cake and what makes a biscuit a biscuit, before determining which column Jaffa Cakes belonged in.  Jaffa Cakes were assessed using the following criteria: The product name, ingredients, texture, structure of the product, the size, how the product is sold, and how the product is marketed.   Towards this end, the main arguments on behalf of the office of Customs and Excise were that Jaffa Cakes are the approximate size and shape of biscuits, are stocked on the shelves with the biscuits, and, owing in no small part to McVities' own marketing, people eat them in the sort of contexts biscuit are eaten.    McVities countered by stating that Jaffa Cakes are baked in the manner of cake and of the same base ingredients.  Their master stroke was staleness – cakes go hard as they stale and biscuits go soft.  When Jaffa cakes go stale, and it's hard to imagine them sitting there long enough, they go hard.  McVities actually let a bunch of them out to go stale and brouhght them into court as evidence.  And in a legal tactic I'd like to see more often, McVities baked a big ol' 12-inch version of a Jaffa Cake, to show that if you blew it up to the size of a normal cake, it would just be a cake.    If I were on the other side of it, I might make a big deal over the name, but the judge presiding over the case, Mr D.C Potter, ruled that to be of “no serious relevance” because a product's name often has little to do with its actual function.  In the end, the court decided the Jaffa Cake was, in fact, a cake, and the Irish Revenue Commissioners agreed, though their ruling was based on the Jaffa Cakes' moisture content being greater than 12%.  So no VAT on Jaffa cakes, which means we can buy more of them, hooray!   HYDROX VS OREO In 1882, the entrepreneur Jacob Loose bought a biscuit and candy company that would eventually be known as Sunshine Biscuits, the company that would eventually give us Cheez-its, which my ex-husband went through at least a box of a week, dipping in port wine cheese spread.  About as close as he ever got to a balanced diet.  In 1908, launched the cream-filled chocolate sandwich biscuit known as Hydrox.  The name, he thought, would be reminiscent of sparkling sunlight and evoked an impression of cleanliness (probably because it sounds like a disinfectant).  This was after all only a few years after the Pure Food and Drug Act, before which your canned veggies might be full of borax and your milk be a watered down concoction of chalk dust and cow brains, and you wouldn't know.  Some tellings have it that Hydrox is a portmanteau of hydrogen and oxygen, the elements that make up water, the gold standard of purity.  Meanings aside, the fact that there actually was a Hydrox Chemical Company in business at the time, one that sold hydrogen peroxide and was caught up in a trademark lawsuit at the time over the use of the word “hydrox,” should have given them a hint to maybe go back to committee.  Hydrox chemicals lawsuit, btw, pointed out that the word “hydrox” was already in use for such disparate things as coolers, soda, and ice cream, so maybe Jacob Loose figured the word is out there, might as well use it.   For four years, Hydrox cookies with their lovely embossed flower design made cash registers ring for Sunshine Biscuits.  Then, 90 years almost to the day of this episode dropping, the National Biscuit Company came along –you probably know them by their shortened name, Nabisco– with the launch of three different cookies, the Mother Goose biscuit, the Veronese biscuit, both now lost to history, and the Oreo.  The cookies were very similar, with Oreos even being embossed by the same time of production machine, but Hydrox have a sweeter filling and less-sweet cookie.  Like VHS vs beta, which you can learn more about in the book and audiobook, the newcomer soon came to dominate the landscape, and there's no clear reason why.  Any chocolate sandwich biscuit is offhandedly called an Oreo, no matter how cheap a replica it may be.  It's literally the best-selling cookie in the world now, with $3.28 billion in sales in the U.S. alone.  They sell 92 million cookies per day throughout 100-plus countries under the parent brand Mondelez International.  That ubiquity has led a lot of people to erroneously assume that Oreo is the original and Hydrox is the Mr. Pibb to their Dr. Pepper.  Hydrox did manage to hold onto a cadre of die-hards, especially in areas with significant Jewish populations, because Hydrox were always kosher.  Oreo cream used to be made with lard from pigs and Nabisco would later have to invest a lot of resources into replacing the lard with shortening in the 90's.     Sunshine Biscuits was purchased by Keebler in 1996, who replaced Hydrox with a reformulated product called "Droxies," which 100% sounds like drug slang for a veterinary tranquilizer.  Keebler was acquired by Kellogg's in 2001, and Kellogg's yanked Droxies from the shelves before adding a similar chocolate sandwich cookie to the Famous Amos brand, then discontinued them.  In August 2008, on the cookie's 100th anniversary, Kellogg's resumed distribution of Hydrox under the Sunshine label, a limited distribution, one and done.  Hydrox-heads besieged Kellogg's with phone calls and an online petition, asking that Hydrox be brought back for good, but all for naught.  Less than a year later Kellogg's had removed Hydrox from their website.  “This is a dark time in cookie history,” one Hydrox partisan, Gary Nadeau, wrote, according to the Wall Street Journal. “And for those of you who say, ‘Get over it, it's only a cookie,‘ you have not lived until you have tasted a Hydrox.”  As of the time of writing, I've never had one myself, but I'll see if I can't lay my hands on some before going to air.   Getting my hands on some may be a touch trickier than it should be.  They exist; that's not the issue.  In 2015, entrepreneur Ellia Kassoff, a lover of Hydrox who knew the trick to getting a trademark someone else had allowed to lapse, was able to pick up Hydrox for his own company, Leaf Brands—itself a dormant brand that Kassoff had revived.  Hip to the time, Leaf Brands made Hydrox available on Amazon, so anyone anywhere could get them whenever they wanted (plus two days for delivery).  These new Hydrox weren't going to bow gracefully to the dominant Oreo.  Their website points out that they use real cane sugar instead of high-fructose corn syrup, and no hydrogenated oils, artificial flavors, and GMOs, and warn consumers, "don't eat a knock-off!"  Hydrox are also made in the USA while Mondelez International was laying off U.S. workers.  Sales of Hydrox grew by 2,406 percent from 2016 to 2017, amassing more than $492,000 in sales — clearly, still light-years away from Oreo's overwhelming dominance in the market, but impressive progress nonetheless.   If you ask Leaf Brands, they'd be doing a lot better if not for Mondelez – not out-competing them, deliberately sabotaging them.  This is the hard-to-find bit I alluded to.  In August 2018, Leaf Brands filed a lawsuit against Mondelez International, seeking $800 million in damages because of "lost sales and reputation.”  The charges claimed that Mondelez was using its massive industry muscle "to place their own products in favorable locations in stores and move competitors in less desirable positions on store shelves."  On their Facebook page, you can see pictures of grocery stores where Hydrox cookies are hidden behind other displays, scooted to the back of shelves, and even turned sideways so the short end is facing out.  If you've never worked grocery retail, your instinct may be to blame the store staff, but a lot of brands are actually stocked by the manufacturer.  Ever pass a guy in a Pepsi polo shirt with hand-truck loaded with soda?  That, but with cookies.  And it's not just their own products.  Mondelez is what's called a “category captain,” meaning they get to determine much of the layout for the whole cookie aisle.  Leaf alleges that Mondelez employees and agents are deliberately making Hydrox harder to find while making Oreos pert near impossible to miss.   This is far from the first lawsuit over Oreos.  A class action lawsuit was filed claiming the cookies misled buyers by stating that the product contains real cocoa.  The judge dismissed the case.  And they were sued for Fudge Covered Mint Oreos not containing any actual fudge.  The plaintiffs claim that these cookies don't contain any milkfat from dairy, a key component of fudge, but rather cheaper palm and palm kernel oil.  As so often happens, there are eleventy-hundred articles from the week the case was filed and nothing on the outcome.  That's what happened with the main point of this article.  I was dead sure I remembered Hydrox and Oreo going to court over the basic infringement question, and Hydrox losing, but I couldn't turn up anything on that because of the sabotage lawsuit sucking up all the search results.   X-MEN It's not all foodie fact fun today.  I'm going to risk a copyright strike to play 15 seconds of a song that will make everyone near me in age go “aw yeah!” [sfx Xmen theme]  For the young or those who had social lives in high school, that's the theme song to the 90's Xmen cartoon, and it slaps, as they kids used to say.  For the truly uninitiated, and c'mon even my mom knows who the Xmen are, the story centers on a group of superheroes who get their powers from genetic mutations…and government experiments, time travel, by dint of being aliens – it's a comic book, what do you want.   Ever since their introduction to the Marvel Universe in 1963, the X-Men have always had to deal with questions about their humanity.  While their enemies will stop at nothing to cast them as monsters, the team continues to fight for a world where they are treated just like humans.  That's in-universe.  In the broader reality, it's actually in the X-Men's best interest not to be considered humans.  Well, Marvel comics financial bottom line, anyway, and they went to court over it.   In 1993, international trade lawyers Sherry Singer and Indie Singh found an interesting provision in a book of federal tariff classifications – “dolls” are taxed at 12% on import while “toys” are only taxed 6.8%.  The devil is in the details, or in this case, the definition.  A “toy” can be any shape, representing any thing, but a "doll" can only be a representation of a human being, like Barbie or GI Joe.  [tik tok Joe's thumbnail]  Singer and Singh knew this distinction could be a sizable financial benefit for their client, Marvel Entertainment, who had an ownership stake in ToyBiz at the time.  For years, Marvel had been importing action figures that were taxed as dolls, despite their wide panoply of brightly colored characters often being anything but human.  Taking a direct approach, the two lawyers gathered up a literal bag full of action figures and went to the U.S. Customs and Border Protection headquarters in Washington, D.C. to try and convince them that Marvel wasn't importing humanlike “dolls,” but instead very non-human “toys.”   The Customs staff's reaction to the bag of toys is not recorded, but their official response was that the “non-human characteristics” of the X-Men and other action figures “fall far short of transforming [these figures] into something other than the human beings which they represent.”  Singer and Singh were locked onto this tactic and pursued it for a decade.  A judge considered various figures from Marvel's whole line to decide whether or not individual characters were human or not.  Rippling pecs, long claws, blue skin, red eyes, all were scrutinized, as lawyers on both sides expostulated on the philosophical ramifications of what it means to be human.  How can these action figures be human if they have "tentacles, claws, wings, or robotic limbs?"     I'd loved to have been there to hear people with expensive educations in tailored suits, stand before a learned jurist in a wood-paneled courtroom and say things like,  "The figure of 'Kingpin' resembles a man in a suit carrying a staff. Nothing in the storyline indicates that Kingpin possesses superhuman powers.  Yet, Kingpin is known to have exceedingly great strength (however 'naturally' achieved) and the figure itself has a large and stout body with a disproportionately small head and disproportionately large hands. Even though 'dolls' can be caricatures of human beings, the court is of the opinion that the freakishness of the figure's appearance coupled with the fabled 'Spider-Man' storyline to which it belongs does not warrant a finding that the figure represents a human being."   In 2003, Judge Judith Barzilay ruled that Marvel characters aren't quite human enough to taxed as dolls.  “They are more than (or different than) humans. These fabulous characters use their extraordinary and unnatural physical and psychic powers on the side of either good or evil. The figures' shapes and features, as well as their costumes and accessories, are designed to communicate such powers."   Yay, a victory for the giant multimillion dollar corporation!  But a slap in the face for diehard X-Men fans.  Chuck Austen, one of the writers for Uncanny X-Men at the time, said his whole goal in the story was to show the team's humanity.  The nerds grew restless and Marvel had to issue a statement that read, "Don't fret, Marvel fans, our heroes are living, breathing human beings—but humans who have extraordinary abilities ... A decision that the X-Men figures indeed do have 'nonhuman' characteristics further proves our characters have special, out-of-this world powers." And that's… To protect the public from contaminated oil, New York State law required that all fish oil be gauged, inspected and branded, with a penalty of $25 per barrel on those who failed to comply.  Samuel Judd purchased three barrels of whale oil that had not been inspected, and James Maurice, a fish oil inspector, sought to collect the penalty from him.  Judd pleaded that the barrels contained whale oil, not fish oil, and so were not subject to the fish oil legislation. At trial, one side said the term "fish oil" was commonly understood to include whale oil, and the other side plead the obvious science that whales are mammals.  The jury deliberated for 15 minutes and returned a verdict in favor of the fish oil inspector.    Mr. Judd, dissatisfied with the verdict, moved for a new trial. By then, the Legislature was in session and the Recorder, knowing that a new fish oil bill was pending, delayed his decision on the motion. The new enactment limited the inspection to fish liver oil, and the Recorder took the view that this implicitly confirmed that the earlier legislation covered whale oil. Accordingly, he refused to grant Judd's motion for a new trial.   James Maurice resigned his position as fish oil inspector because he considered that the position under the new law had too little value or importance.     Sources: https://www.constantpodcast.com/episodes/are-whales-fish https://www.npr.org/sections/money/2013/12/26/256586055/when-the-supreme-court-decided-tomatoes-were-vegetables https://www.washingtonpost.com/news/wonk/wp/2017/10/18/the-obscure-supreme-court-case-that-decided-tomatoes-are-vegetables/ https://www.insider.com/interesting-facts-about-oreo-2018-7#oreo-first-appeared-on-the-market-in-1912-1 https://www.mashed.com/223360/the-strange-history-of-the-oreo-and-hydrox-cookie-rivalry/ https://www.mashed.com/702384/why-this-snack-food-giant-is-being-sued-over-an-oreo-flavor/?utm_campaign=clip http://www.todayifoundout.com/index.php/2015/10/time-company-baked-giant-cake-win-court-case/  https://www.edinburghnews.scotsman.com/read-this/is-a-jaffa-cake-a-cake-or-a-biscuit-heres-the-definitive-answer-as-decided-by-a-court-1379222 https://www.mentalfloss.com/article/92007/why-us-federal-court-ruled-marvels-x-men-arent-humans https://www.polygon.com/comics/2019/9/12/20862474/x-men-series-toys-human-legal-issue-marvel-comics https://observer.com/2007/12/thar-she-blows-19thcentury-court-case-harpoons-a-whale-of-a-story/ https://en.wikipedia.org/wiki/Nix_v._Hedden https://www.youtube.com/watch?v=FtpJFEBcKoE

The Ministry of Health has identified a case of wild Polio, a new Tropical Cyclone called Emnati developed in the Indian Ocean, Malawi has almost a million flood survivors, the National Budget included the removal of the Value Added Tax on cooking oil and tap water, huge deposits of organic matter were found in Mudi Dam, Kit Kats may contain glass, and much more!  Thanks for tuning in!We want to know why you are listening, how you found us, and your life story! Thoughts? Recommendations? Important stuff we missed we might have missed, or topics you want us to cover? Things we got wrong, in your humble opinion?Let us know your thoughts and ideas by emailing us at podcast@rorshok.com or follow us on Instagram or Twitter @RorshokMalawiLike what you hear? Subscribe, share, and tell your buds.If you would like to get full details on the Kit Kat affected batches, and on how to contact the CFTC, follow the link.Oops! It looks like we made a mistake. In 05:26 the reader was supposed to say "problem".Sorry for the inconvenience!  

jQuery(document).ready(function(){ cab.clickify(); }); Original Podcast with clickable words https://tinyurl.com/yakkfd8x € 200 energy rebate, reduced fares announced. Aisíocaíocht fuinnimh €200, laghdú ar tháillí iompair fógartha. The new policies announced by the Government this afternoon are worth € 290 million and aim to help people meet the current high cost of living. Luach €290 milliún atá sna beartais nua a d'fhógair an Rialtas tráthnóna a bhfuil sé mar aidhm acu cuidiú le daoine an costas ard maireachtála atá ann faoi láthair a sheasamh. The largest share of the € 200 one - off energy repayment money must be made available to every household in the State. Caithfear an sciar is mó den airgead ar aísíocaíocht fuinnimh aon uaire €200 a chur ar fáil do gach líon tí sa Stát. Value Added Tax has been included in the amount of € 200 which will be refunded from April. Tá Cáin Bhreisluacha curtha san áireamh sa tsuim €200 a aisíocfar ó mhí Aibreáin. It has also been announced that public transport fares will be cut by 20% from April and that fares will be reduced until the end of the year. Fógraíodh freisin go bhfuil táillí iompair phoiblí le ciorrú 20 faoin gcéad ón Aibreán agus go mbeidh na táillí íslithe ann go deireadh na bliana. The maximum amount that primary school pupils will pay for bus fares will be reduced to € 150 and € 500 for second level school pupils. Laghdófar an t- uasmhéid a íocfas daltaí bunscoile ar tháillí bus feasta go €150 agus €500 a bheas ann i gcás daltaí scoile dara leibhéal. In addition, Fuel Allowance recipients will be paid an extra one - off € 125 at the beginning of next month. Ina cheann sin, íocfar €125 breise aon uaire i dtús na míosa seo chugainn le daoine a fhaigheann an Liúntas Breosla. That's about 390,000 people. Sin thart ar 390,000 duine. € 10 per week will be added to the Families in Employment Payment earlier than planned. Cuirfear €10 sa tseachtain leis an Íocaíocht do Theaghlaigh i bhFostaíocht níos luaithe ná mar a bhí beartaithe. The threshold for the Drug Reimbursement Scheme will also be reduced from € 100 to € 80. Ísleofar chomh maith an tairseach don Scéim Aisíocaíochta Drugaí ó €100 go €80. Top 70,000 will be bullied by this amendment. Barr ar 70,000 a bhainfeas balachtáil as an leasú seo. The Minister for Finance, Paschal Donohoe, and the Minister for Public Expenditure, Michael McGrath, announced the policies at an afternoon press conference. Ba iad an tAire Airgeadais, Paschal Donohoe, agus an tAire Caiteachais Phoiblí, Michael McGrath, a d'fhógair na beartais ag preasócáid tráthnóna. Opposition parties, however, have little regard for what the Government has announced. Ní móran measa atá ag páirtithe an fhreasúra ar a bhfuil fógartha ag an Rialtas, áfach. Sinn Féin has said that it can only heal. Dúirt Sinn Féin nach bhfuil ann ach cneasú thar goimh.

We've all heard how combined, Amazon's European marketplaces are equal in size to Amazon US. That's no small amount of revenue up for grabs.But you've likely also heard horror stories.20% taxesStrict customs regulationsStuck shipmentsGDPR, and other acronyms that give us headaches. That's what has kept thousands of successful American brands from expanding internationally.But if it's really so difficult to expand to Amazon Europe, why are so many brands of all sizes finding success there? From 8 figure supplements brands to 1 product startups, Amazon Sellers are increasing their revenue by selling the same products to more people in more countries. And it's probably easier than you've been led to believe.We brought on expert in all things international e-commerce Rael Lowenthal to give us the playbook for quick, easy, and low-risk expansion from US to EU marketplaces.In this episode of the Actualize Freedom Podcast:How to test European markets by risking less than $1000Why "good debt" is a key pillar for fast-growing Amazon sellersHow to avoid dumb mistakes with legal compliance in multiple foreign countriesVAT broken down into easily understood terms (for non-lawyers, ex. regular people) You can reach out to Rael and his team at zee.co to inquire about help with anything to do with expansion to European marketplaces on Amazon. VAT setup, importer of record (IOR), customs compliance, stuck shipments, or international freight.What is An Importer of Record?In simple terms, it's a government's way of ensuring that every foreign brand has a domestic company that will take responsibility for ensuring proper compliance with local import regulations. You can't import into many countries in Europe without a local company acting as your importer of record or IOR. It makes sense when you think about all the black-hat Chinese sellers who were blatantly ignoring VAT regulations. The governments have little power over bad-actors in other countries. By making an IOR mandatory, there's at least a local company who must take responsibility for illegal activity if the company they are representing is breaking laws or failing to pay their fair share.What is VAT?VAT is short for Value Added Tax, and is the big scary 20% (ish) tax that Amazon sellers have nightmares about. At first it sounds complicated, but once you understand how it works it's not as bad as it seems. It varies by country and we highly recommend working with a company to help you ensure correct compliance."The European Union value-added tax (or EU VAT) is a value added tax on goods and services within the European Union (EU). The EU's institutions do not collect the tax, but EU member states are each required to adopt a value added tax that complies with the EU VAT code. Different rates of VAT apply in different EU member states, ranging from 17% in Luxembourg to 27% in Hungary."wikipedia 

The House of Representatives has ordered an immediate investigation into debts totalling N2.6 trillion allegedly owed the Federal Government by oil and gas companies operating in the country. A report by the Extractive Industries Transparency Initiative says from the failure of the firms to remit Petroleum Profit Tax, Company Income Tax, Education Tax, Value Added Tax, Withholding Tax, Royalties, Penalties and Concession on rentals to the Federal Government. The House raised an Adhoc committee to investigate the matter after the lawmaker representing Lere Federal Constituency of Kaduna State, Rep. Ahmed Munir, brought it up the floor through a motion on notice. He says that if debts are recovered, the money could be used to service some of the Federal Government's debts as well as fund up to 16.2 per cent of the 2022 budget deficit.

The House of Representatives has ordered an immediate investigation into debts totalling N2.6 trillion allegedly owed the Federal Government by oil and gas companies operating in the country. A report by the Extractive Industries Transparency Initiative says from the failure of the firms to remit Petroleum Profit Tax, Company Income Tax, Education Tax, Value Added Tax, Withholding Tax, Royalties, Penalties and Concession on rentals to the Federal Government. The House raised an Adhoc committee to investigate the matter after the lawmaker representing Lere Federal Constituency of Kaduna State, Rep. Ahmed Munir, brought it up the floor through a motion on notice. He says that if debts are recovered, the money could be used to service some of the Federal Government's debts as well as fund up to 16.2 per cent of the 2022 budget deficit.

The House of Representatives has ordered an immediate investigation into debts totalling N2.6 trillion allegedly owed the Federal Government by oil and gas companies operating in the country. A report by the Extractive Industries Transparency Initiative says from the failure of the firms to remit Petroleum Profit Tax, Company Income Tax, Education Tax, Value Added Tax, Withholding Tax, Royalties, Penalties and Concession on rentals to the Federal Government. The House raised an Adhoc committee to investigate the matter after the lawmaker representing Lere Federal Constituency of Kaduna State, Rep. Ahmed Munir, brought it up the floor through a motion on notice. He says that if debts are recovered, the money could be used to service some of the Federal Government's debts as well as fund up to 16.2 per cent of the 2022 budget deficit.

Rorshok's weekly ten-minute update of stuff happening in Malawi. An alarming increase in cases of scabies, a new outbreak of leprosy, a vaccine against not all forms of malaria, a very high maternal death rate, a Value Added Tax of 16.5% to be implemented by the Bankers Association, prisoners working hard to pass the MSCE exams, Malawi as a great tourist destination and much more! Thanks for tuning in! We want to know why you are listening, how you found us, and your life story! Thoughts? Recommendations? Important stuff we missed we might have missed, or topics you want us to cover? Things we got wrong, in your humble opinion? Let us know your thoughts and ideas by emailing us at podcast@rorshok.com Like what you hear? Subscribe, share, and tell your buds.

In this latest news from India in Hindi: Indian Prime Minister Narendra Modi celebrates Diwali with soldiers in the northern state of Kashmir; Festival of lights celebrated across India; After Indian government's excise duty cut, state governments reduce Value Added Tax (VAT) on fuel.

Rorshok's weekly ten-minute update of stuff happening in Malawi. An alarming increase in cases of scabies, the Stroke Support Organization Malawi has partnered with local organizations to raise awareness, a Value Added Tax of 16.5% to be implemented by the Bankers Association, a controversy surrounding the leak of alleged MSCE exams, a stern caution against traders who flout requirements in the importation of fertilizer, music festivals and much more! Thanks for tuning in! We want to know why you are listening, how you found us, and your life story! Thoughts? Recommendations? Important stuff we missed we might have missed, or topics you want us to cover? Things we got wrong, in your humble opinion? Let us know your thoughts and ideas by emailing us at podcast@rorshok.com Like what you hear? Subscribe, share, and tell your buds. If you want more information about scabies or wish to report a case, please call 0 888 871 007 If you want to contact the Stroke Support Organization Malawi, call 0 888 267 713

Rivers State Governor, Mr Nyesom Wike, says that the state was not at war with the federal government or any of its agencies. The clarification followed insinuations in some quarters about hostility between the two tiers of government in the wake of the legal dispute over who is authorised to collect Value Added Tax in the state.The governor says there is no desire or any intention of the Rivers State government to fight the federal government, but in a federal system, the states are not houseboys of the federal government.

Mike and Melanie of AVASK talk about what sellers need to know before expanding their ecommerce businesses to Europe and other markets abroad.   Many sellers think that selling or expanding into the EU is a nightmare, what with the language barriers and different compliance requirements. I myself have done it in the past and found it quite difficult.   That being said, my guest today, Melanie Shabangu, will help me debunk common myths all of us might believe about selling in the EU, and she'll explain exactly how to keep an ecommerce business profitable when expanding abroad.    Melanie is a tax expert and ecommerce accountant for AVASK, an accounting firm that specializes in helping ecommerce sellers expand their businesses into Europe, the UAE, and even Australia.    In this episode, I have the pleasure of picking her brain about what selling in the EU is like, especially for those who have little to no experience with it. We'll be talking about myths that might be putting off a lot of US sellers from selling in the EU, VAT and other compliance requirements, and the overall economics of selling in markets abroad.   Timestamps:    Introduction - 0:00 Introduction to Melanie and AVASK Accounting - 1:35 Myths you might believe about selling in the EU - 2:35 The basic economics of selling in the EU - 4:46 How much it costs to translate an Amazon listing - 13:54 What is Value Added Tax? - 26:53 What your costs could look like with VAT - 27:56 Standard compliance requirements when expanding into European markets - 32:45   I want to thank Melanie for all the valuable stuff she shared today. I definitely wish I knew all of these before trying to sell abroad—I hope it motivated you to give it a shot as much as it did me.   If you want to learn more about what we discussed in this episode, shoot Melanie an email at melanie@avaskgroup.com or contact their expansion team at expansion@avaskgroup.com.   On the topic of selling across borders, we're running an exclusive giveaway for our friends in Canada. By answering our quick 2-minute survey over on ecomcrew.com/poll2021 you get a chance to win a full year's worth of EcomCrew Premium membership absolutely free! This grants you access to all our courses, past webinars, and direct email support from Dave and myself. Good luck!   As always, please leave us a review over on iTunes if you haven't already. Until the next one, happy selling and we'll talk to you soon!

On this Compliance That Makes Sense episode, Yana is talking today about FinTech and Value Added Tax. Many Fintech companies in Europe and other places where there is an equivalent of the VAT ask her to confirm that Crypto and FinTech businesses are exempt. If you need a quick answer, it would be almost, but there is one big exemption. Often, a FinTech company has a hybrid model or company; the fees they charge are exempt, but some fees, payments, and revenue-generating activities could be subject to VAT. Listen as Yana shares how to know what is and what isn't exempt. If you enjoy this episode, please share it with friends, leave comments and reviews, and join the conversation.  Today's episode: [00:34] Hello, my friends! [02:13] It is normal for many FinTech companies to have hybrid models where they charge exempt fees. [04:12] There are a lot of mixed hybrid events that might happen. [05:19] It isn't uncommon to see regulatory requests for cryptocurrency-focused businesses to be split and have two legal entities. [07:24] Yana offers some thoughts and ideas about how to go about thinking about these issues. [10:18] You also need to think about both entities and which will have direct contact with the customers. [11:25] There are no particular right or wrong answers to these questions. [11:46] Thank you for listening! Show links: Interested in FinTech compliance - consider investing into the FinTech Compliance Self-Starter Package! I would love to invite you to sign up for my newsletter, if you are interested please click here.

Lawgical with LYLAW

The U.S. stock market ended the week with a 2-day rally, in fact the Dow Jones closed better than 200 points today, to about 1690  NASDAQ, even stronger, up 119, closing at almost back up to 4600 The rally actually began early yesterday morning, and not just in stocks Oil had a huge rally, in fact, today alone, crude was up $2.72 back above $30, at $32.25 What sparked the rally was comments made by Mario Draghi at an ECB press conference that followed their official statement that they were leaving interest rates unchanged - they are already negative Right about that time, the Dow futures were already down 100 points and it wasn't looking good for the open of the U.S. stock market But then, in Draghi's press conference, he said there was no limit to what the ECB is prepared to do to generate more inflation in Europe He strongly hinted that in the next meeting in March, they may announce additional stimulus He saw the weakness in the markets and decided to take one for the Fed, because ultimately it's the Federal Reserve who has to come out with the "Whatever it takes" comment" to shore up the markets I don't think the ECB is going to be enough, even if Japan joins the party, it won't be a real party until the Federal Reserve shows up This was enough to cause a small, short-covering rally What's interesting, though, about the Draghi comments, is that he specifically addressed the problems of low oil prices and low food prices Do you think the population of Europe worries that food is too inexpensive? Is it really so important that gas is more expensive in Europe? None of these are real concerns, and the proof is, if they really wanted the prices to be higher, they could just adjust the Value Added Tax to increase prices to exactly 2% Why print all this money, hoping that the result is higher gas prices? The truth is, the price of gas and food in Europe is not the problem - Mario Draghi knows its not the problem He wants to create inflation to prop up the equity markets But the press takes Draghi at his word, that inflation is the problem Stock prices are the prices they are worried about being too low They also want more inflation to mitigate the effect of government-mandated higher wages So the one motivating factor behind Draghi's comments was not food or gas prices Obviously lower food and gas prices help the European economy All the markets went up on the hint that the ECB is going to further stimulate the economy That proves that the only reason the stock market has rallied is because the central banks - it's not about the fundamentals The Fed will have to capitulate and acknowledge that more stimulus is coming The press is focusing on the idea that the Fed will slow down its initial goal of 4 rate hikes in 2016 But that's not enough If the Fed tightens more slowly, and the ECB and Japan are easing, then the story is still about the tighter U.S. monetary policy vs Europe and Japan, which will continue to create the global problem of a high U.S. dollar We aren't going to get drunk on Europe's liquor - we need our own bartender pouring the drinks Is it enough to get a short-covering rally? Sure. Nothing goes down in a straight line We don't know that Draghi will actually deliver stimulus in March. What if the price of oil goes up above $40/barrel before then? Mario Draghi went out of his way to praise Janet Yellen, agreeing with the Fed's December rate hike decision Ironically, the U.S. economy is doing better than Europe, but the U.S. economic data is getting worse, and in Europe it is improving By the time all the revisions are done, it is likely to come out that the first time the Fed raised rates in 8 years, we were already in a recession Thursday's weekly jobless number went up again to  293,000 vs an expected 275,000 This is the highest number of first time unemployment claims since July The 4-wk moving average is now at 285,