Public finance and taxation Books

Book SynopsisMuch has been written and spoken about the lessons learned from the financial crisis of 2009. This book deals with the lessons not learned before the financial crisis.Dr Trimbath demonstrates that an existing framework for regulating financial systems, available since at least 2001, could have prevented the systemic failure in the US that led to the collapse of global credit markets in 2008. Step by step the book guides you through what could have been done to prevent the crisis and what investors can do to protect themselves from the next one, and concludes with a key idea for making financial services businesses stand out from the crowd ensuring future success.The list of 10 Steps is quite straight-forward and simple. Have private, independent rating agencies. Provide some government safety net but not so much that banks are not held accountable (""Too Big to Fail"") Allow very little government ownership and control of national financial assets. Allow banks to reduce the volatility of returns by offering a wide-range of services. Require financial market players to register and be authorized. Provide information, including setting standards, to enhance market transparency. Routinely examine financial institutions to ensure that the regulatory code is obeyed. Enforce the code and discipline transgressors. Develop policies that keep the regulatory code up to date. Encourage the creation of specialized financial institutions. For each step the reader will find: the legislative and regulatory background on the existing rules; a review of academic research on the theory behind each step; and the facts and data connecting each step to the financial crisis of 2008.Trade ReviewIn a time of mind-boggling complexity in financial regulation - too complex, according to Ben Bernanke, for the Federal Reserve System to understand its impact - Lessons Not Learned is a refreshing call to return to a simpler, more basic approach. Susanne Trimbath emphasizes that the failure to implement regulations, a key factor in the crisis of 2008, remains the system's Achilles heel. This book features a refreshing combination of research grounding and pragmatic experience. A must read for taxpayers and their representatives!" - Jerry Caprio Currently: Williams College, William Brough Professor of Economics and Chair, Center for Development Economics. Formerly (1988-2005): The World Bank, Director, Operations and Policy Department, Financial Sector Vice PresidencyTable of Contents Acknowledgements About the author Contents Abbreviations Tables of authorities Foreword Introduction 1. Updated Regulations 1.1. Lesson 1.2. Purpose 1.3. Theory 1.4. Practice 1.5. Connection 1.6. Conclusion 2. Registration and Authorisation 2.1. Lesson 2.2. Purpose 2.3. Theory 2.4. Practice 2.5. Connection 2.6. Conclusion 3. Surveillance and Examinations 3.1. Lesson 3.2. Purpose 3.3. Theory 3.4. Practice 3.5. Connection 3.6. Conclusion 4. Allowable Diversification 4.1. Lesson 4.2. Purpose 4.3. Theory 4.4. Practice 4.5. Connection 4.6. Conclusion 5. Independent Monitors 5.1. Lesson 5.2. Purpose 5.3. Theory 5.4. Practice 5.5. Connection 5.6. Conclusion 6. Information and Standards 6.1. Lesson 6.2. Purpose 6.3. Theory 6.4. Practice 6.5. Connection 6.6. Conclusion 7. Enforcement and Discipline 7.1. Lesson 7.2. Purpose 7.3. Theory 7.4. Practice 7.5. Connection 7.6. Conclusion 8. Safety with Accountability 8.1. Lesson 8.2. Purpose 8.3. Theory 8.4. Practice 8.5. Connection 8.6. Conclusion 9. Private Ownership 9.1. Lesson 9.2. Purpose 9.3. Theory 9.4. Practice 9.5. Connection 9.6. Conclusion 10. Specialization 10.1. Lesson 10.2. Purpose 10.3. Theory 10.4. Practice 10.5. Connection 10.6. Conclusion 11. Conclusion 11.1. Finance is Everywhere 11.2. No single cause, no single solution 11.3. Moving Beyond Finance and Economics 11.4. Where We Are Now 11.5. Where we could be 11.6. Epilogue to Individual Investors Appendices Appendix 1: Note on the Mathematics of Derivatives Appendix 2: SROs, Born of the Paperwork Crisis Appendix 3: Structured Finance Appendix 4: Who Regulates Banks Appendix 5: DFA Cross-Reference and Implementation Trackers Appendix 6: A Collection of Lessons References Index

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Book SynopsisMuch has been written and spoken about the lessons learned from the financial crisis of 2009. This book deals with the lessons not learned before the financial crisis.Dr Trimbath demonstrates that an existing framework for regulating financial systems, available since at least 2001, could have prevented the systemic failure in the US that led to the collapse of global credit markets in 2008. Step by step the book guides you through what could have been done to prevent the crisis and what investors can do to protect themselves from the next one, and concludes with a key idea for making financial services businesses stand out from the crowd ensuring future success.The list of 10 Steps is quite straight-forward and simple. Have private, independent rating agencies. Provide some government safety net but not so much that banks are not held accountable (""Too Big to Fail"") Allow very little government ownership and control of national financial assets. Allow banks to reduce the volatility of returns by offering a wide-range of services. Require financial market players to register and be authorized. Provide information, including setting standards, to enhance market transparency. Routinely examine financial institutions to ensure that the regulatory code is obeyed. Enforce the code and discipline transgressors. Develop policies that keep the regulatory code up to date. Encourage the creation of specialized financial institutions. For each step the reader will find: the legislative and regulatory background on the existing rules; a review of academic research on the theory behind each step; and the facts and data connecting each step to the financial crisis of 2008.Trade ReviewIn a time of mind-boggling complexity in financial regulation - too complex, according to Ben Bernanke, for the Federal Reserve System to understand its impact - Lessons Not Learned is a refreshing call to return to a simpler, more basic approach. Susanne Trimbath emphasizes that the failure to implement regulations, a key factor in the crisis of 2008, remains the system's Achilles heel. This book features a refreshing combination of research grounding and pragmatic experience. A must read for taxpayers and their representatives!" —Jerry Caprio - Currently: Williams College, William Brough Professor of Economics and Chair, Center for Development Economics. Formerly (1988-2005): The World Bank, Director, Operations and Policy Department, Financial Sector Vice PresidencyTable of Contents Acknowledgements About the author Contents Abbreviations Tables of authorities Foreword Introduction 1. Updated Regulations 1.1. Lesson 1.2. Purpose 1.3. Theory 1.4. Practice 1.5. Connection 1.6. Conclusion 2. Registration and Authorisation 2.1. Lesson 2.2. Purpose 2.3. Theory 2.4. Practice 2.5. Connection 2.6. Conclusion 3. Surveillance and Examinations 3.1. Lesson 3.2. Purpose 3.3. Theory 3.4. Practice 3.5. Connection 3.6. Conclusion 4. Allowable Diversification 4.1. Lesson 4.2. Purpose 4.3. Theory 4.4. Practice 4.5. Connection 4.6. Conclusion 5. Independent Monitors 5.1. Lesson 5.2. Purpose 5.3. Theory 5.4. Practice 5.5. Connection 5.6. Conclusion 6. Information and Standards 6.1. Lesson 6.2. Purpose 6.3. Theory 6.4. Practice 6.5. Connection 6.6. Conclusion 7. Enforcement and Discipline 7.1. Lesson 7.2. Purpose 7.3. Theory 7.4. Practice 7.5. Connection 7.6. Conclusion 8. Safety with Accountability 8.1. Lesson 8.2. Purpose 8.3. Theory 8.4. Practice 8.5. Connection 8.6. Conclusion 9. Private Ownership 9.1. Lesson 9.2. Purpose 9.3. Theory 9.4. Practice 9.5. Connection 9.6. Conclusion 10. Specialization 10.1. Lesson 10.2. Purpose 10.3. Theory 10.4. Practice 10.5. Connection 10.6. Conclusion 11. Conclusion 11.1. Finance is Everywhere 11.2. No single cause, no single solution 11.3. Moving Beyond Finance and Economics 11.4. Where We Are Now 11.5. Where we could be 11.6. Epilogue to Individual Investors Appendices Appendix 1: Note on the Mathematics of Derivatives Appendix 2: SROs, Born of the Paperwork Crisis Appendix 3: Structured Finance Appendix 4: Who Regulates Banks Appendix 5: DFA Cross-Reference and Implementation Trackers Appendix 6: A Collection of Lessons References Index

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Book SynopsisInsurance Premium Tax is a guide for practitioners and those involved in the insurance industry. It summarises how the IPT is applied in practice, the definition of an insurance contract, looks at exemptions from the tax, the application of the higher rate and issues affecting non UK risks and global policies. It also explores compliance issues such as IPT registration, the submission of returns and payment of the tax, changes in rates and the penalty regime.Table of Contents INTRODUCTION 1.1. Sources of information WHAT IS INSURANCE PREMIUM TAX 2.1. Definition 2.2. Is IPT legal? 2.3. Insurance contracts and insurers 2.4. Taxable contracts 2.5. What is a premium? 2.6. Coinsurance, insurance pools and fronting 2.7. Warranties and guarantees 2.8. Discretionary trusts 2.9. Cost plus schemes 2.10. Self insurance 2.11. Voluntary excesses and deductibles HIGHER RATE IPT 3.1. Introduction 3.2. Motor cars and motor cycles 3.3. Domestic Appliances 3.4. Travel insurance 3.5. Higher rate insurance and free and discounted insurance TAXABLE INTERMEDIARIES 4.1. Liability to register and account for IPT 4.2. Criteria for a person having to register 4.3. Taxable intermediary provisions 4.4. Higher rate contracts 4.5. Registration limits LOCATION OF RISK 5.1. Introduction 5.2. Risk location rules 5.3. Habitual residence 5.4. Business establishment 5.5. Unregistered vehicles 5.6. Buildings 5.7. Embassies 5.8. Travel Insurance 5.9. Apportioning multi jurisdictional risks EXEMPTIONS 6.1. Introduction 6.2. De minimis 6.3. Exemptions 6.4. Non-UK risks 6.5. Reinsurance 6.6. Long-term insurance contracts 6.7. Commercial ships 6.8. Contracts relating to the Channel Tunnel 6.9. Lifeboats and Lifeboat equipment 6.10. Commercial aircraft 6.11. International railway rolling stock 6.12. Goods in foreign or international transit 6.13. Export finance related insurance 6.14. Motability contracts 6.15. Spacecraft REGISTRATION, DE-REGISTRATION AND TOGCS 7.1. Registration – Introduction 7.2. Deregistration 7.3. Transfer of a going concern ACCOUNTING FOR IPT 8.1. Introduction 8.2. IPT Accounting Schemes 8.3. Bad debt relief 8.4. Adjusting for errors on IPT returns 8.5. Changes in IPT rates 8.6. Anti-forestalling provisions 8.7. Lloyd's IPT procedures 8.8. Record keeping requirements 8.9. Recovering IPT paid in error PENALTIES 9.1. Introduction 9.2. Penalty for failure to notify 9.3. Late payment of tax or rendering of returns 9.4. Failure to notify a cessation of trade 9.5. Failure to produce records 9.6. Failure to appoint or nominate a tax representative 9.7. Breach a controlled goods agreement or Walking Possession Agreement in Northern Ireland 9.8. Liability of insured 9.9. Underdeclarations 9.10. Evasion of IPT 9.11. Interest 9.12. HMRC's stated approach to late rendering and payment penalties 9.13. Security 9.14. Reviews and appeals APPENDIX 1: HMRC PENALTIES FOR FAILURE TO NOTIFY (FACTSHEET CC/FS11) APPENDIX 2: HMRC PENALTIES FOR INACCURACIES IN RETURNS (FACTSHEET CC/FS7A) APPENDIX 3: ""CONNECTED"" PERSONS APPENDIX 4: FORMS APPENDIX 5: EUROPEAN INSURANCE PREMIUM TAX (IPT) COMPARISON TABLE APPENDIX 6: IPT ERROR FLOWCHART

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Book SynopsisThis as-it-happened review of the causes, consequences, and repercussions of the 2008 Global Financial Crisis is more than a history lesson – it's a look into the future.These essays by Dr Susanne Trimbath, were first published between 2008 and 2015 on newgeography.com. They have been edited to be read as a free-standing publication, grouped together into the following chapters: Bailouts Congressional Hearings and Legislation Homeowners and Mortgages Federal Reserve and Treasury Actions Bank/Broker Behavior Systemic Issues Public Reaction The hardback is a limited edition of 100 copies, signed by the author. Every copy sold will include a US$5 donation to the Diane Fossey Foundation Trade ReviewMy wish is that I have opened your eyes to the false utopia being offered by Wall Street and the businesses and governments they support." - Dr Susanne Trimbath"These essays are a critical element in the continuing discussion of inequality and the growing power of a small financial elite" - Joel Kotkin, editor of NewGeography.com NewGeography.comTable of Contents 1. Bailouts Why there were bailouts in 2008-9 for Wall Street and not for Main Street? This chapter includes articles on who got the money and how the true cost, which was to be borne by US taxpayers, was hard to calculate and often purposefully hidden from public view. 2. Congressional Hearings and Legislation Once the full-blown global financial crisis hit, the response included tens of thousands of pages of new rules, regulations and regulators in the space of about three years. Also, the US government assumed ownership and operation of AIG. This was the first "taking" since 1989 and was followed by Washington Mutual in September 2008 and W Holding's Westernbank in April 2010. 3. Homeowners and Mortgages The housing market, in the years leading up to the financial crisis and the Great Recession, had been treated like gold – not that "houses are as good as gold" but that people were treating houses AS IF they were an investment and not a place to live. 4. Federal Reserve and Treasury Actions In 2009, Treasury Secretary Timothy Geithner presented a proposal for legislation that would give the secretary the authority to make the final determination that a financial institution on the verge of default – regulation by revolution. Geithner's proposal would let the federal government nationalize a 'too big to fail' company. 5. Bank/Broker Behavior The actions of financial industry professionals led to the financial crisis that developed into the Great Recession. Criminal charges were brought against those who cheated their way into getting a share of the bailout money, but many of those responsible for creating the situation were paid elaborate bonuses at the same time their financial institutions were receiving bailout funds. 6. Systemic Issues This chapter on Systemic Issues goes into detail about topics that are widely misunderstood by the non-financial public: financial innovations were supposed to democratize capital by making it easier to fund less-popular projects, both public and private. Like many inventions, it was abused for the enrichment of a few. 7. Public Reaction Public reaction in the United States to the revelations of the Wall Street bailout was subdued. A Landmark Narrative developed and was generally accepted by Americans: people bought houses they couldn't afford by using adjustable-rate mortgages, no-money-down and other schemes offered by banks. When the favorable terms ran out those homebuyers stopped paying their mortgages; they caused their mortgage bank to slide toward bankruptcy, and caused all those "sliced-and-diced" mortgage-backed bonds to fail, too.

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Book Synopsis14th edition with almost 300 pages of up-to-date inheritance tax planning advice.Proper inheritance tax planning could save your family hundreds of thousands of pounds. This comprehensive and completely up-to-date book tells you everything you need to know about inheritance tax.It takes a detailed look at both simple and sophisticated tax planning strategies and will help you decide what action you and your family should take now.The author, Carl Bayley, is chairman of the Tax Faculty at the Institute of Chartered Accountants in England and Wales (ICAEW).Inheritance tax planning has become more important than ever following the Government’s decision to freeze the £325,000 lifetime exemption, which means inflation is steadily eroding its value every year.Topics covered in the guide include:The very latest changes announced in the two most recent Budgets (including full details of the new residence nil rate ba

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Book SynopsisPerfecting your pricing is fundamental to the success of your business. It affects how your customers perceive you, it can make or break a sale, and it’s the most powerful key to profitable and sustainable growth. But how do you know your pricing is right? How do you approach making this most crucial of decisions with confidence and clarity? In Pricing for Success, leading pricing expert Mark Peacock takes a fresh look at the power and psychology of pricing and walks you clearly through seven essential steps that will improve your pricing, delight your customers, and create a more profitable business. Through an illuminating and informative blend of straightforward examples, templates and real-life case-studies, presented alongside over fifty expert pricing tips, tools and tactics, you’ll discover: Why pricing is your biggest lever for profitable growth. The persuasive pricing techniques that have the biggest impact. How customer-driven approaches make it easier to boost your bottom line. The surprising truth about premium pricing and how it’s easier to sell. How to cleverly structure your offer so you can optimise your prices. How to avoid common pricing pitfalls and lose your fear of losing business. The time you spend on getting this right is the best investment you’ll make in your business. So, stop leaving money on the table, start taking control of your pricing and create a powerful new approach to pricing that will unlock higher profits and provide sustainable business growth.Trade Review"A must-read and accessible guide for any business concerned with delivering profitable growth." Nathan King, CEO, AddVantage Strategy"Relevant and practical! Packed with advice on why price matters and the importance of getting it right." David Pritchard, Managing Director, Sandler London East"Excellent! Makes a difficult subject simple and explains the true power of pricing." Roy Newey, Chairman, CEO and Author of Ready, Set, Grow – Make More Money and Keep It

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Book SynopsisThis handbook is a concise guide for all those who aim at obtaining a basic knowledge of European tax law. Designed for students, it should be useful as well for experienced international tax specialists with little knowledge of European law, European law specialists who are reluctant to approach the technicalities of direct taxation and non-Europeans who deal with Europe for business or academic reasons and need to understand the foundations of European tax law. The authors also consider that this book can be useful to academics without a legal background in order to approach the technical issues raised by European Union tax law.During the past two years the growing role of state aids and EU fundamental rights have confirmed the trend that steers them towards having an equivalent impact on direct taxation as compared to the one traditionally had by fundamental freedoms. The developments of secondary law have been more marginal instead, confirming the difficulties in producing secondary legislation on direct taxes.This edition contains selected relevant information available as of 30 June 2020 and retains all of the features and tools contained in the previous editions.

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Book SynopsisThe sixth amendment to the Directive on Administrative Cooperation in the field of taxation (DAC6) and mandatory disclosure regimes (MDRs) in many jurisdictions have led to a large number of professionals potentially being required to disclose information in relation to their clients' arrangements.The authors analyse the operation of the various automatic exchange of information regimes introduced in the last five years, including the OECD common reporting standards, DAC6 and MDRs, setting them in their historical context. They focus on the guidance offered by the Irish and UK tax authorities with reference to other guidance in Europe and beyond, where appropriate.

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Book SynopsisInsurance Premium Tax is a guide for practitioners and those involved in the insurance industry. It summarises how the IPT is applied in practice, the definition of an insurance contract, looks at exemptions from the tax, the application of the higher rate and issues affecting non UK risks and global policies. It also explores compliance issues such as IPT registration, the submission of returns and payment of the tax, changes in rates and the penalty regime. The major change that has taken place since the first edition has been the UK leaving the European Union. The author explains why this does not impact greatly on IPT, though it makes the discussion on the legality of the tax otiose. In November 2020, HMRC announced a consultation on IPT. This looked at three main areas: unregistered insurers, some 'avoidance' structures involving administration fees and the administration of the tax. The author reports on the consultation and HMRC reaction to industry responses.

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Book SynopsisVAT and Financial Services takes the reader through the relevant legislation and case law, the legal concepts such as time and place of supply, the distinction between goods and services, what is taxable, and the interaction of these elements; examines the consequences of outsourcing (through a detailed study of 10 significant cases); looks at the key issues facing financial services and insurance; and then discusses the VAT cost sharing exemption.Since the third edition, there have been significant developments, including (most obviously) Brexit. The key VAT change is that EU legislation is no longer primary legislation (although many EU VAT principles, obligations and rights have been 'retained') and ECJ court decisions are, in general, no longer binding although 'a court or tribunal may have regard to anything done on or after exit day by the European Court, another EU entity or the EU so far as it is relevant to any matter before the court or tribunal' (European Union (Withdrawal) Act, 2018 s6(2)). Also, the Court of Appeal decision in HMRC v Perfect [2022] EWCA Civ 330, which is an excise duty case but more widely applicable, confirmed that decisions from any referrals to the ECJ made before 31 December 2020 remain binding on the UK even if the decision is issued after that date.In addition to this general change, there have been some more specific changes, for example the changes to the VAT (Specified Supplies) Order 1999, which now treats supplies to persons in the EU in the same way as supplies to persons outside the EU and some changes to the status of EU pension funds.A further change has been to the status of Cost Sharing Groups, an arrangement that allows persons who carry on certain activities to form a group to share costs without creating sticking VAT. As Cost Sharing groups are no longer available to the financial services and insurance sectors, the chapter and appendix covering these have been removed from this edition. Appendices include: contracts of insurance; Lloyd's VAT arrangements; HMRC ABI partial exemption guidance for the insurance sector; TOGC legal extracts; and the VAT territory of the EU.Finance directors and finance controllers in the financial services and insurance sectors and at those who advise these sectors should all find the book helpful.Table of ContentsAbout the authorAcknowledgementsContentsTables of authorities1. Introduction1.1. Introduction to the first edition, September 20121.2. Introduction to the second edition, June 20151.3. Introduction to the third edition, March 20171.4. Introduction to the fourth edition, June 20222. Financial Services2.1. Introduction2.2. Money and money-related services2.3. Securities2.4. Investment funds and wrappers2.5. Derivatives2.6. Intermediary services2.7. Supplies relating to the provision of credit2.8. Debts and related services2.9. Islamic finance2.10. Standard rated services2.11. Investment gold3. Insurance3.1. Introduction3.2. General (non-life) insurance3.3. Life assurance3.4. Friendly Societies3.6. Lloyd's3.7. Insurance claims3.8. Insurers in 'run off'3.9. Other types of insurance3.10. Insurance Premium Tax (IPT)4. Outsourcing4.1. Introduction4.2. Sparekassernes Datacenter (SDC) v Skatteministeriet (Case C- 2/95) [1997] STC 9324.3. C&E Commrs v Civil Service Motoring Association [1998] STC 1114.4. C&E Commrs v CSC Financial Services Limited (formerly Continuum (Europe) Limited) (Case C–235/00) [2002] STC 574.5. C & E Commrs v FDR Ltd [2000] STC 6724.6. C & E Commrs v Electronic Data Systems Ltd [2003] STC 6884.7. Century Life plc v C&E Commrs [2000] STC 2764.8. Försäkringsaktiebolaget Skandia (Case C – 240/99) STC 7544.9. C & V (Advice Line) Services Ltd v C & E Comrs (2001) (17310)4.10. Staatssecretaris van Financiën v Arthur Andersen & Co Accountants cs (Case C-472/03) [2005] STC 5084.11. JCM Beheer BV v Staatssecretaris van Financien (Case C-124/07) [2008] STC 33604.12. Aspiro (formerly BRE Ubezpieczenia Sp. z o.o.) v Minister Finansów (Case C – 40/15)5. Input Tax and VAT recovery5.1. Introduction5.2. Definition of input tax5.3. Who can recover input tax5.4. Blocked input tax5.5. Purchases from overseas suppliers5.6. Partial exemption5.7. Capital goods scheme5.8. Recovery of VAT incurred in the EU6. Legislation, Case Law and Appeals6.1. Introduction6.2. EU legislation6.3. Primacy of EU Directives over national legislation and European Union (Withdrawal) Act 20186.4. UK legislation6.5. Appeals6.6. Legislation relevant to the financial services and insurance sectors7. VAT supply and liabilities7.1. Meaning of supply7.2. Supply of goods7.3. Supply of services7.4. Supply of neither goods nor services7.5. Place of supply7.6. Time of supply7.7. Taxable supplies7.8. Exempt supplies7.9. Outside the scope supplies7.10. Reverse chargeAppendicesAppendix A – Contracts of InsuranceAppendix B – Lloyd's VAT ArrangementsAppendix C – Extract from 'HMRC ABI Partial Exemption Guidance for the Insurance Sector'Appendix D – Transfers of business as a Going Concern – Legal ExtractsAppendix E – EU member states as at 1 January 2021Appendix F – Terminal markets listed in VAT (Terminal Markets) Order 1973 (as amended)Index

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Book SynopsisThe Tax Schedule explains the underlying rationale of the key provisions of the tax schedule, and provides updated model long-form and short-form warranties and tax indemnities. The purpose of the book is to explain and simplify issues for tax advisors involved in transactions of buying and selling companies and business, enabling negotiations between tax advisors to keep sight of the commercial reality of the transaction (a sale by a willing seller to a willing buyer). The purpose of the tax schedule is to determine where responsibilities and risks will lie following the completion of the transaction, as well as to re-examine a number of so-called 'market practices'. The intended readership of the book is tax lawyers, tax accountants, corporate lawyers, corporate advisors and finance directors who are involved in the process of the sale of a company. Since the last edition, the UK has left the European Union (with little implications so far for tax schedules) and there have been two cases relating to the tax deed, relating tax warranties (Nobahar-Cookson & ors v The Hut Group Ltd [2016] EWCA Civ 128 and Tesco UK Limited v Aircom Jersey 4 Limited and Aircom Global Operations Limited) and decided by the court of appeal, no less.Table of ContentsPreface to the fourth editionPreface to the first editionAcknowledgementsOnline resourcesTable of authoritiesGlossary1 THE TRANSACTIONAL PROCESS1.1 Background issues1.2 Pre-completion clearances1.3 Post-completion clearances1.4 Transactions and clearances with EU dimension1.5 Employee share scheme matters1.6 Buyer's issues1.7 Seller's issues1.8 Negotiating the tax schedule1.9 Completion issues1.10 Post-completion matters2 DUE DILIGENCE2.1 Overview2.2 The buyer's tax due diligence report2.3 The seller's tax due diligence report2.4 The disclosure process2.5 Measuring the risk2.6 Due diligence in the purchase of a business2.7 Tax due diligence in the purchase of a company3 WARRANTIES3.1 Overview3.2 Warranties in due diligence3.3 Disclosures against tax warranties62F3.4 Accounts, tax computations and payments3.5 Administration and tax compliance3.6 Advance corporation tax (ACT)3.7 Anti-avoidance3.8 Associated companies3.9 Capital allowances3.10 Chargeable gains3.11 Clearances3.12 Close companies3.13 The construction industry scheme (CIS)3.14 Controlled foreign companies (CFC)3.15 Corporation tax3.16 Deferred tax3.17 Demergers and exempt distributions3.18 Disclosure of tax avoidance schemes (DOTAS)106F3.19 Distributions and dividends3.20 Dormant companies3.21 Employment-related tax issues3.22 Group issues3.23 Inheritance tax3.24 Insolvency issues3.25 Intellectual property3.26 Land and property issues3.27 Loan relationships3.28 National insurance contributions (NICs)3.29 PAYE3.30 Penalties regime3.31 Research and development (R&D)3.32 Residency issues3.33 Secondary tax liabilities3.34 Self-assessment3.35 Stamp taxes3.36 Transfer pricing and non-arm's length transactions3.37 Value added tax and Customs & Excise3.38 Value shifting205F and depreciatory transactions206F4 SALE AND PURCHASE OF A COMPANY4.1 Background issues4.2 Issues for the buyer4.3 Taxation issues for the seller4.4 Dealing with target's pre-completion debts4.5 Accounts and completion accounts4.6 Structuring the consideration5 SALE AND PURCHASE OF A BUSINESS5.1 General overview5.2 Commercial considerations5.3 Due diligence5.4 Tax issues5.5 VAT and transfers as a going concern (TOGC)6 SPECIAL SITUATIONS6.1 Insolvencies and administrations6.2 The locked box mechanism6.3 Public listings and offerings6.4 Partnerships7 SHARE SCHEME ISSUES7.1 Overview7.2 Corporation tax relief – an important negotiating issue7.3 Tax issues arising in respect of share incentive schemes7.4 Roll-over options7.5 Takeover code issues7.6 Administrative and reporting requirements for HMRC-approved schemes7.7 Partly paid shares7.8 Disguised remuneration rules7.9 Employee shareholders and ESS8 VENTURE CAPITAL SCHEMES8.1 The Enterprise investment scheme8.2 Seed enterprise investment scheme8.3 Venture capital trusts8.4 Social investment tax relief8.5 Corporate venturing scheme (CVS)9 GROUP ISSUES9.1 Chargeable gains groups9.2 Corporation tax groups9.3 Group payment arrangements9.4 Intangible assets9.5 Loan relationships9.6 Stamp duty9.7 Stamp duty land tax (SDLT)9.8 Substantial shareholdings9.9 VAT groups10 THE TAX SCHEDULE IN THE SALE AND PURCHASE OF A COMPANY10.1 Background issues10.2 Drafting principles10.3 Short form or long form tax schedule?10.4 Tax liabilities10.5 An accounts deal10.6 A completion accounts deal10.7 The seller's indemnity10.8 Limitations10.9 De minimis and maximum caps10.10 Third party recovery10.11 Overprovisions10.12 Reliefs and savings10.13 Mitigation and/or shared pre-completion tax reliefs10.14 Buyer's indemnity10.15 Conduct provisions10.16 Gross-up and withholdings10.17 Zim PropertiesAPPENDIX 1. LONG FORM TAX SCHEDULEAPPENDIX 2. SHORT FORM TAX SCHEDULEAPPENDIX 3. LONG FORM TAX WARRANTIES FOR THE SALE OF A COMPANYAPPENDIX 4. TAX WARRANTIES FOR THE SALE OF A BUSINESSAPPENDIX 5. HMRC INFORMATION & INSPECTION POWERSAPPENDIX 6. TIME LIMITS FOR ASSESSMENTS & CLAIMS AND RELATED MATTERSAPPENDIX 7. HMRC CLEARANCESAPPENDIX 8. OVERVIEW OF HMRC APPROVED EMPLOYEE INCENTIVE SCHEMES8.1. Approved Share Incentive Plans ("SIPs")8.2. Schedule 4 Company Share Option Plans ("CSOPs")8.3. Enterprise Management Incentives (EMIs)8.4. Schedule 3 SAYE Option SchemesAPPENDIX 9. EIS OVERVIEW CHECKLISTAPPENDIX 10. SEIS OVERVIEW CHECKLISTAPPENDIX 11. VCT CHECKLISTAPPENDIX 12. PENALTIES AND ERRORSAPPENDIX 13. DOTAS LEGISLATIONAPPENDIX 14. COMPANIES ACT 2006 – PART 28, CHAPTER 3APPENDIX 15. THE TAKEOVER CODE RULE 15INDEX

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Book SynopsisThere are two tax systems in our country. There is one for the employee and one for the self-employed. The employee system, due to lack of knowledge, is designed to take your wealth while the other system for the self-employed and those who know the rules is designed to create wealth and economic growth. This book was created to teach you not only the knowledge that you need in order to be in the self-employed system but to show you how to save every dollar in taxes that you possibly can legally, morally and ethically. Most self-employed people unknowingly overpay in taxes by $10,000 each year even though they have a good accountant. They overpay because of lack of understanding and fear. This book will help you through both of these and help make your life More Relaxing and Less Taxing.

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Book SynopsisFor good business reasons corporate management may conclude that the existing corporate structure should be changed.The changes may require moving assets, liabilities and ownership among of commonly controlled corporations.From the investors point of view, the corporate division may reduce risk by shielding assets from certain liabilities. Moreover, the shareholders will be able to diversify their investment as the stock of the new corporation is distributed to the shareholders of the transferring corporation. Under the general rules of income taxation, moving assets from one corporation to another may trigger taxable gain to the corporation and the shareholders.However, the Internal Revenue Code contains exceptions that allow the separation to be accomplished without taxable income to the corporation and its shareholders. But specified conditions must be satisfied for to achieve this tax abatement. When the conditions are satisfied, the shareholder is permitted to extract value from the corporation and neither the shareholder or the corporations are required to recognizing income.This book will describe the various legal forms used to divide the corporation and the conditions that must be satisfied to avoid taxable income for the corporations and their shareholders. The book is intended to be useful as a supplement to be used in an advanced corporate tax class, as well as a professional guide.

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Book SynopsisThis book is the first coherent quantified assessment of the economy of the Roman Empire. George Maher argues inventively and rigorously for a much higher level of growth and prosperity than has hitherto been imagined, and also explains why, nonetheless, the Roman Empire did not achieve the transition which began in Georgian Britain. This book will have an enormous impact on Roman history and be required reading for all teachers and students in the field. It will also interest and provoke historians of the medieval and early modern periods into wondering why their economies failed to match the Roman level. Part of the problem in assessing the Roman economy is that we do not have much in the way of numerical data, but Roman historians, who rarely have much statistical expertise, have not always recognised the potential of the data we do have. Dr Maher's reassessment of the economy of the Roman Empire has to use the same data as everyone else, but he is able to draw strikingly novel conclusions in two ways: first, by more statistically sophisticated use of a few crucial datasets and, second, by correlating and drawing a coherent picture across the whole economy. On grain yields, firstly, instead of getting bogged down in details of individual cases, George Maher shows how there is a remarkably consistent pattern from which outliers can be excluded, showing yields were much higher than normally assumed. He then demonstrates that high yields are in fact necessary to explain the exceptional urbanization of the Empire. Urbanization at this level in turn, as George Maher shows, has implications for consumption and commerce. He takes this further to show how high levels of trade imply high levels of sophistication in economic practices and mentality. In one of his most methodologically novel chapters, George Maher develops a new and simpler way of assessing average life expectancy and argues for a life expectancy almost double the traditional view. This book, Dr George Maher's doctoral thesis, is the theoretical underpinning of his book Pugnare: Economic Success and Failure.Table of ContentsChapter 1: Introduction Chapter 2: The agricultural sector and comparisons to other economies Chapter 3: Levels of urbanization and economic output Chapter 4: The extent of trade and why it changed over time Chapter 5: The expectation of life as a measure of economic progress Chapter 6: Productive knowledge and the potential for growth Chapter 7: The money system and its weaknesses Chapter 8: The system of state finances and fiscal incompetence Chapter 9: Conclusions Appendices Bibliography

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Book SynopsisThis book explains the nuts and bolts of affordable housing development. Divided into two complementary sections, the book first provides an overview of the effectiveness of existing federal and state housing programs in the United States, such as the LIHTC and TIF programs. In turn, the book’s second section presents an extensive discussion of and insights into the financial feasibility of an affordable real estate development project. Researchers, policymakers and organizations in the public, private and nonprofit sectors will find this book a valuable resource in addressing the concrete needs of affordable housing development. “Luque, Ikromov, and Noseworthy’s new book on Affordable Housing Development is a “must read” for all those seeking to address the growing and vexing problem of affordable housing supply. The authors provide important insights and practical demonstration of important financial tools often necessary to the financial feasibility of such projects, including tax-increment financing and the Low-Income Housing Tax Credit. Further, the authors provide important backdrop to the affordability crisis and homelessness. I highly recommend this book to all who seek both to articulate and enhance housing access.” By Stuart Gabriel, Arden Realty Chair, Professor of Finance and Director, Richard S. Ziman Center for Real Estate at UCLA"Over several years Jaime Luque, Nuriddin Ikromov and William Noseworthy applied their analytical bent, and no small measure of empathy, to homelessness as actually experienced in Madison, Wisconsin – and they inspired multiple classes of urban economics students to join them. “Homelessness” is a complex web of issues affecting a spectrum of populations, from individuals struggling with addiction or emotional disorders, to families who’ve been dealt a bad hand in an often-unforgiving economy. Read this book to follow Jaime, Nuriddin, and William as they evaluate a panoply of housing and social programs, complementing the usual top-down design perspective with practical analysis of the feasibility of actual developments and their effectiveness. Analytical but written for a broad audience, this book will be of interest to anyone running a low-income housing program, private and public developers, students, and any instructor designing a learning-by-doing course that blends rigor with real-world application to a local problem."By Stephen Malpezzi, Professor Emeritus, James A. Graaskamp Center for Real Estate, Wisconsin School of Business, University of Wisconsin-Madison, and Dean, Weimer School of the Homer Hoyt Institute. Table of Contents1 Housing Affordability Crisis: The United States.- 2 Homelessness, Housing Public Policy and Urban Planning.- 3 The Low-Income Housing Tax Credit (LIHTC) Program.- 4 The Tax Increment Financing (TIF) Program.- 5 Housing the Homeless.- 6 Financial Feasibility Analysis: Planning for the Possible.- 7 Location, Location, Location.- 8 The Critical Role of TIF, LIHTC, and City Grants.- 9 Affordable Housing Development: Further Considerations for Developers.- 10 Beyond Financing: The Process of Development.

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Book SynopsisThis upper level textbook provides a coherent introduction to the economic implications of individual and population ageing. Placing economic considerations into a wider social sciences context, this is ideal reading not only for advanced undergraduate and masters students in health economics and economics of ageing, but policy makers, professionals and practitioners in gerontology, sociology, health-related sciences, and social care.This volume introduces topics in labour economics, including the economic implications of ageing workforces. It covers pension economics and pension systems with their macroeconomic and distributive effects, and the question of risk. Finally, it describes macroeconomic consequences of ageing populations on aggregate saving, inflation, international trade, and financial markets.Trade Review“This monograph, which is Volume III of Economics and Ageing, provides an excellent account on important topics such as labour economics and ageing, pension systems and economics, their macroeconomic, risk and distributive implications. … Each part consists of several chapters. Each of the chapters appears to be self-contained and discusses a specific topic. References are included by the end of each chapters. A chapter-by-chapter review is provided in the sequel.” (Tak Kuen Siu, Tak Kuen Siu, zbMATH 1453.91002, 2021)Table of ContentsI Labour Economics and Ageing 1 The Older Labour Force 1.1 Scope of labour economics with regards to ageing 1.1.1 Alternative conceptualisations of work 1.1.2 The three analytical perspectives 1.1.3 Definition of older worker 1.2 Labour demand 1.3 Labour supply 1.4 Economic activity 1.5 Substitution and complementarity between younger and older workers 1.5.1 The effect of the size of the cohort 1.5.2 The effect of the business cycle 1.6 Paid employment in later life 1.6.1 Pull and push factors 1.6.2 Labour force participation and health 1.6.3 Motivation to remain in paid employment 1.6.4 Employment and pensions 1.6.5 Self-employment 1.6.6 Number of hours worked 1.6.7 Underemployment and overemployment 1.6.8 The ‘lump of labour’ fallacy 1.7 Voluntary work 1.7.1 Extent 1.7.2 Contribution 1.7.3 Theories 1.7.4 Reasons and drivers 1.7.5 Intergenerational transmission 1.8 Unemployment 1.8.1 Job search 1.8.2 Long-term unemployment 1.8.3 Scarring effects of unemployment 1.8.4 Job search and re-employment 1.9 Economic inactivity 1.10 Retirement 1.10.1 Retirement as a social institution, a process, and an experience 1.10.2 Phases of retirement 1.10.3 The retirement decision 1.10.4 Early retirement, gradual retirement, bridge employment and de-retirement64 1.10.5 Retirement risk index 2 Chronological Age and Labour Productivity 2.0.1 Age-productivity profiles 2.1 Chronological age and labour productivity 2.1.1 Chronological age and productivity of researchers and artists 2.2 Chronological age and labour productivity in industry 2.2.1 Empirical evidence of the age-productivity relationship 2.2.2 Productivity gap and wage gap 2.2.3 Organisational factors 2.2.4 Psychological contract 2.3 Physical and cognitive functioning 2.3.1 Work-related ability 2.3.2 Physical abilities 2.3.3 Cognitive abilities 2.4 Human capital obsolescence 2.4.1 Workforce obsolescence 2.4.2 Ageing workforces, automation and artificial intelligence 2.5 Productivity and earnings 2.5.1 Payment schemes 2.5.2 Job experience 2.5.3 Older workers’ earnings 3 Age Discrimination and Stereotypes 3.1 Introduction 3.2 Categories of age stereotypes 3.3 The economics of discrimination in the workplace 3.3.1 Taste discrimination 3.3.2 Statistical discrimination 3.4 Extent of age discrimination in the workplace 3.5 Age discrimination and hiring of older workers 3.6 Organisational and other contextual factors 3.6.1 Organisational structure 3.6.2 Age structure 3.6.3 Size 3.6.4 Industrial sector 3.6.5 Organisational climate and culture 3.7 Work-related consequences 3.8 Physical and cognitive consequences II Economics of Pensions 4 Pensions and Pension Schemes 4.1 Defined benefit or defined contribution 4.2 Pay-as-you-go or fully funded 4.3 Contributory or non-contributory 4.4 Mandatory or voluntary 4.5 Actuarial or non-actuarial 4.6 Other characteristics 4.6.1 Maturity 4.6.2 Replacement rate 4.7 Funding position 4.8 Earnings measure, Valorisation, and Indexation 4.9 Objectives 4.10 Pillars and tiers 4.10.1 Point systems and Notional accounts 4.11 Pension wealth accumulation 4.11.1 The Samaritan dilemma 4.12 Pensions and implicit taxes on paid work 5 Macroeconomic Aspects 5.1 National saving 5.2 Pension systems and economic growth 5.3 The Samuelson-Aaron’s condition 5.4 Public pensions and public budgets 5.5 Financial solvency 5.6 From PAYG to fully-funded schemes and the question of the first generation 5.7 From fully-funded to PAYG schemes 5.8 Political economy of pensions 5.9 Taxation of pension saving 5.10 Public pensions and fertility decisions 6 Distributive and Actuarial Elements 6.1 Pensions and income redistribution 6.1.1 The progressivity index 6.2 Actuarial approaches 6.2.1 Actuarial fairness and neutrality 6.2.2 Annuities and other financial products 6.2.3 Pension liabilities 7 Pensions and Risk 7.1 Introduction 7.1.1 The Musgrave rule 7.2 Types of risks 7.2.1 Labour-market related risk 7.2.2 Macroeconomic risk 7.2.3 Political risk 7.2.4 Investment risk 7.2.5 Longevity risk 7.2.6 Fertility risk 7.2.7 Bankruptcy and switching risk 7.2.8 Intergenerational risk 7.2.9 De-risking 7.3 Retirement risk index III Ageing and macroeconomics 8 Ageing and Economic Growth and Development 8.1 Introduction 8.2 Empirical evidence 8.3 Ageing and theories of economic growth 8.3.1 Endogenous neoclassical growth models 8.4 Ageing and development 8.5 Ageing and projections of economic activity and growth 8.6 Ageing, entrepreneurship, and innovation 8.6.1 Introduction 8.6.2 Entrepreneurship 8.7 Innovation 9 Other Macroeconomic Implications of Population Ageing 9.1 Ageing, saving, and monetary policy 9.2 Ageing, inflation and relative prices 9.2.1 Saving 9.2.2 Excess aggregate supply 9.2.3 Relative prices 9.2.4 Monetary policy rules 9.2.5 Ageing and the demand for money 9.2.6 Ageing from below and from above 9.2.7 Older people’s consumer price indices 9.3 Ageing, exchange rate and international trade 9.4 Ageing and financial assets Ageing and macroeconomic crises

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Book SynopsisClimate scientists have determined that we must act now to prevent an irreversible and catastrophic climatic tipping point, beyond which neither our own nor many other species can be assumed likely to survive. On the way to that bleak ending, moreover, extreme socio-economic injustice and associated political breakdown—now well underway in nations already hard-hit by environmental crisis—can be expected to hasten as well. The time has thus come to plan carefully, thoroughly, and on a scale commensurate with the crisis we face. This book, written by one of the key architects of the Green New Deal and prefaced by Representative Alexandria Ocasio-Cortez's former Chief of Staff, indicates how to structure Green New Deal finance in a manner that advances the cross-cutting goals of maximum financial and economic inclusion, maximally democratic decision-making, and an appropriate division of roles both among all levels of government and among public and private sector decision-makers. Integrating into one complete and coherent financial architecture such bold ideas as a 'People's Fed,' an interdepartmental National Investment Council, integrated state and regional public banks, a Democratic Digital Dollar and digital Taxpayer Savings and Transaction Accounts made part of the monetary policy transmission belt, and an economy-wide Price Stabilization Fund, this book is critical reading for policymakers and citizens looking for a fresh path forward towards a revived and sustainable, progressive and productive America.Table of Contents The Green New Deal in Brief Outline What a Green New Deal Finance Plan Must Do A Green New Deal Financial Architecture Comparison to Lesser Alternatives

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Book SynopsisConventional wisdom dictates that those goods which are said to cause harm or impose costs on society deserve a special tax. For centuries, governments have levied these "sin taxes" on alcohol and tobacco, but the list of taxable sins has now grown to include soda and marijuana, with calls to impose further taxes on plastic bags, meat, and even robots and carbon. Contrary to what experts and policymakers tell us, many of these alleged sins impose very little, if any, cost on society, and the harms that do exist can be minimized without resorting to tax. What follows in this book is a discussion of four case studies—on tobacco, marijuana, alcohol and soda—which make the case against the conventional wisdom in taxing these "sins", before concluding that when it comes to taxing sin, it is time for governments to forgive—and forget. Table of Contents1. Tax Your Sins, Experts Say2. Taxing Soda3. Taxing Alcohol4. Taxing Tobacco5. Taxing Marijuana6. Taxing Twenty-First Century Sins7. Don't Tax Sin, Forgive It

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Book SynopsisThis book discusses local area planning in the Lombardy region of Italy. The book provides valuable insights about the development of local welfare systems and the territorial organization of social services through the analysis of the evolution of the Local Area Plan, which lies at the intersection of sub regional governance and of social services delivery models. Using Lombardy as a case study, this brief analyzes the structural conditions influencing the establishment of Local Area Plans, their effect on inter-municipal cooperation, and the need for possible reforms. The book is organized as follows: the first chapter presents a reconstruction of the national and regional framework, analyzing the structure of ties and opportunities within which Local Area Plans are called to act. The second chapter provides a review of the extant literature on Local Area Plans and introduces the theoretical framework used by the volume. The third chapter details legislation introduced in Lombardy to reform the governance structure of Local Area Plans by supporting a process of reorganization and aggregation. The fourth chapter presents some cases of Local Area Plan aggregation. The final chapter presents the conclusion and some brief considerations about the future of social planning. Providing an empirical analysis of local service delivery, this book will be useful to scholars and practitioners interested in public administration, welfare, local government, non-profit and public organizations, and management.Table of ContentsChapter 1: Introduction.- Chapter 2: The structuration of the Italian welfare system: from fragmentation to innovation.- Chapter 3: A (possible) answer to fragmentation in social assistance policy. The Local Area Plan.- Chapter 4: Redesigning territorialisation to improve planning and management capabilities in social assistance. Change or business as usual.- Chapter 5: The difficult path towards change.- Chapter 6: The road towards the new planning phase (2021-2023). Challenges and opportunities.

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Book SynopsisThis open access book analyses barriers and challenges associated with the financing of clean energy access in sub-Saharan Africa. By considering various economic, financial, political, environmental and social factors, it explores the consequences of energy poverty across the region and maps the real and perceived investment risks for potential capital providers, both domestic and international. Furthermore, it analyses risk mitigation strategies and innovative financing structures available to the public and private sectors, which are aimed at leveraging capital in the clean energy sector at scale and fostering the creation of an enabling business and investment environment.More specifically, the present book analyses how to (i) enhance capital allocation in projects and organisations that foster clean energy access in the region, (ii) mobilize private capital at scale and (iii) decrease the cost of financing through risk mitigation strategies. Going beyond traditional approaches, the book also considers socioeconomic and cultural aspects associated with investment barriers across the subcontinent. Moreover, it urges the public and private spheres to become more actively involved in tackling this pressing development issue, and provides policy recommendations for the public sector, including proposals for business model evolution at multilateral agencies and development institutions. It will appeal to a wide readership of both academics and professionals working in the energy industry, the financial sector and the political sphere, as well as to general readers interested in the ongoing debate about energy, sustainable development and finance.Table of ContentsIntroduction.- Energy Access in Sub-Saharan Africa: General Context.- Risk Analysis and Mitigation Strategy Identification.- Public Policies and Initiatives in the Energy Sector.- Direct and Indirect Investments in the Energy Sector.- Capital Markets for the Financing of Clean Energy Access in Sub-Saharan Africa.- Risk Mitigation Instruments Targeting Specific Investment Risks.- Business Model Adaptation.- The Role of Multilateral Agencies and Development Banks.- Conclusions and Policy Recommendations.- Further Areas of Work.- Annex

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Book SynopsisThis book discusses the role of public-private partnerships (PPPs) in global transportation infrastructure. Seen as a way to provide vital services in an era of shrinking government budgets, public-private partnerships have become an increasingly important part of travel infrastructure worldwide. This book describes and analyzes the structure of various models of PPPs in various countries, evaluating their effectiveness, and drawing policy implications for future use. Written by leading international researchers and practitioners in the transportation field, each chapter is a case study on the adoption, implementation, and outcome of transportation services in different municipalities. Taken together, these diverse case studies provide an integrated framework for evaluating and using PPPs. Providing rigorous empirical analysis of PPPs in transportation, this volume will be of interest to researchers in public administration, political science, and economics as well as practitioners and policymakers involved in establishing and monitoring PPPs in transportation.Table of ContentsChapter 1. Public Private Partnerships in Transportation: Airports, Water Ports, Rail, Buses, and Taxis- AN OVERVIEW.- Chapter 2. Evaluating The Viability of The Ghana Airport Cargo Centre as Publica-Private Partnership Project.- Chapter 3. The role of individual actors in public-private partnership (PPP) projects: Insights from Madinah Airport in Saudi Arabia.- Chapter 4. Models, Expectations, And Reality In Airport Public Private Partnerships.- Chapter 5. Airport Privatization in the United States.- Chapter 6. Legal Impediments to Airport P3s in the United States.- Chapter 7. Public-Private Partnerships in Port Areas: Lessons Learned from Case Studies in Antwerp and Rotterdam.- Chapter 8. Seaport PPPs in the EU: Policy, Regulatory and Contractual Issues.- Chapter 9. Sustainable Strategies for Mass Rapid Transit PPPs.- Chapter 10. Rational Inattention in Non-Profit Public-Private Partnerships: The Las Vegas Monorail Bankruptcy Case.- Chapter 11. Public -Private Partnerships in Denver, CO: Analysis of the Role of PPPs in the Financing and Construction of Transportation Infrastructure in the USA.- Chapter 12. Governance of Public Private Partnerships: Lessons from the Italian Experience in Transportation Projects.- Chapter 13. Developing Urban Rail Using Public Private Partnership – A Case Study of the Gold Coast Light Rail Project.- Chapter 14. For Hire Vehicle Regulation, misunderstanding, mismatch, control and capture: the case of Vehicles for Hire and PPP.- Chapter 15. Using History to Develop Future Regulation of TNCs and Autonomous Taxis.- Chapter 16. Distinguishing Between Demand-Risk And Availability-Payment Public-Private Partnerships.

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Book SynopsisInfrastructure is the foundation of modern economies. A robust, efficient, and well-maintained infrastructure system is critical to support the nation’s economy, improve quality of life, and strengthen global competitiveness. The serious infrastructure deficit in the U.S. is well-known. State and local governments are struggling to finance the needed expansion, upgrades, and repairs. Meeting the infrastructure financing challenge has emerged as one of the most urgent issues facing the country. Despite the growing number of innovations in state and local infrastructure financing, current information on innovative infrastructure financing is scattered and time-consuming to find. Until now, there was no detailed, comprehensive assessment of current knowledge and practice in innovative infrastructure financing. This book fills that gap and offers policy suggestions for state and local government managers who are considering the adoption and implementation of innovative infrastructure financing. It provides detailed case studies and rich examples that describe innovative approaches to fund state and local infrastructure development. These experiences and lessons in applying these innovations will be particularly useful for state and local government practitioners, professors, applied policy analysts, and students in public administration, policy, and public finance.Trade Review“Chen and Bartle’s Innovative Infrastructure Finance provides a foundation for addressing these challenges and maximizing the ‘once in a generation’ funding opportunity for local government managers interested in exploring new ways of implementation and governance, as well as students looking for a primer on infrastructure finance and its practical applications.” (Martin Mayer and Lauren Wargo, Public Works Management & Policy, Vol. 28 (2), April, 2023)Table of ContentsChapter 1: The Challenges and Opportunities of Financing Infrastructure 1.1 Introduction 1.2 Definition and Scope of Infrastructure 1.3 Public Goods and Benefits-Based Revenues 1.4 Trends in State and Local Infrastructure Financing 1.5 Challenges 1.6 Opportunities Chapter 2: Capital Planning and Budgeting for Infrastructure 2.1 What is a Capital Improvement Plan? 2.2 Why Have a Capital Plan and Budget? 2.3 How to Develop a Capital Plan and Budget 2.4 The Process of Capital Planning and Budgeting 2.5 Citizen Involvement in Capital Budgeting 2.6 Emerging Challenges in Capital Planning and Budgeting Chapter 3: Traditional Methods of Financing Infrastructure 3.1 Fundamentals of Infrastructure Finance 3.2 State and Local Infrastructure Financing: Pay-Go versus Pay-Use 3.3 Traditional Infrastructure Financing Methods and Funding Sources Chapter 4: Innovative Mechanisms of Financing Infrastructure 4.1 The Need for Innovative Infrastructure Finance 4.2 An Overview of Innovative Infrastructure Finance 4.3 New Funding Sources 4.4 New Financing Mechanisms 4.5 New Financial Arrangements Chapter 5: Case Studies in Innovative Infrastructure Financing 5.1 Value Capture 5.2 State Infrastructure Banks 5.3 Green, Social and Sustainable Bonds 5.4 Public-Private Partnerships 5.5 Privatization 5.6 Crowdfunding Chapter 6: Conclusion: Putting Innovation into Practice 6.1 Finding 6.2 The Challenge of Innovation 6.3 Conclusion Index

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Book SynopsisThis book examines budgeting by analyzing the local government budget as a complex system, thus adding a new dimension to traditional budget textbooks. It is designed to complement existing texts—not replace—by putting the budget in a complex system, general equilibrium framework. A complex systems framework adds to conventional budget analysis in at least four ways: It looks at the budget as the result of many variables that are outside the finance department’s purview; it understands that there are multiple interdependences among these variables; it suggests analysis of non-obvious relationships among actions in the budget process in order to optimize results; and it argues that the actors in the process must understand that their budgetary behaviors have indirect and far-reaching implications that go beyond the budget document. This book also uses concepts seldom discussed in the budgetary literature—that of governance, including concepts of the facilitative state, with adjustments for exogenous shocks; the forms of decision making; and the political climate of the jurisdiction. This framework notes methods of success of firms in the private sector that operate in environments of rapid technological change. While becoming a popular theoretical framework for how private sector firms change, dynamic capability analysis has received little attention in the public management field. This book utilizes DC since public sector organizations also face rapidly changing environments. Lastly, the book discusses the potential relationship between the local budget and local community welfare maximization.Table of Contents1. The Local Budget as a Complex System—Concepts and Definitions.- 2. Fiscal Sustainability in the Short and Long Runs.- 3. The Revenue Module.- 4. The Expenditure Module.- 5. Debt.- 6. Economic Development.- 7. The Feedback Loop.- 8. Sustainability and Bliss.- 9. Conclusions and Recommendations. ​

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Book SynopsisThis book analyses the economic consequences of the regional government of Catalonia's challenge to democracy and the rule of law in Spain. This process, started in 2010, culminated in a coup d'état in the autumn of 2017. The book has three parts. First: The circumstances behind the challenge: economic structure, social and political aspects. Second: The economic impacts of the resulting huge political instability and social polarisation, and the downturn in GDP, investment, competitiveness, Barcelona's appeal, and flight of companies and banks to Madrid. Third: Independence would mean collapse of trade with the rest of Spain and the EU, expulsion from the eurozone, fall of GDP, plummeting tax revenue, soaring unemployment and, finally, conversion of this hypothetical new Catalonia into a failed, vassal and totalitarian state. This book is destined to be the foremost work of reference on the consequences of the separatist threat to Spain, including Catalonia's current decline.Table of ContentsChapter 1. Introduction.- Chapter 2. Contemporary Spain: Democratic and Decentralised.- Chapter 3. The Process Robs Us, Not Madrid.- Chapter 4. The Rebellion and the Separatist Coup.- Chapter 5. Geographical Dimension and Historical Perspective of Catalonia.- Chapter 6. Degree of Decentralisation in Spain and the Powers of the Autonomous Communities.- Chapter 7. Urban and Rural Catalonia.- Chapter 8. Catalonia, Spain, Europe and the World: The Multilevel Governance System.- Chapter 9. Integration and Disintegration: Secession of the European Regions?.- Chapter 10. Challenge, Labyrinth, Mirage, Enigma, Ghost, Fantasy, Illusion, Utopia, Nonsense, Madness, Stagnation, Malaise, Fever, Cancer, Lawsuit, Accident, Slip, Catastrophe, Crisis, Bonfire, Soufflé, Misfortune, Tragedy, Drama, Comedy, Farce, Trap, Twenty-first Century or Postmodern or Liquid Coup d’état, Revolt, Rebellion, Adventure, Problem, Question, Syndrome… (Separatist) Coup.- Chapter 11. The Separatist Regime: Propaganda, Neo-Language, Post-Truth, Alternative Facts, Fake News, Disinformation, Social Networks, Populism and Falsification of the Past, Present and Future.- Chapter 12. Language and Indoctrination in the Schoolroom.- Chapter 13. Structure of the Separatist Narrative.- Chapter 14. Spain, from a Model Transition to Democracy to Failed State?.- Chapter 15. Values and Qualities of Spain.- Chapter 16. Corruption, Embezzlement, Profligacy and the Bad Government of the Separatist Generalitat.- Chapter 17. Surveys on Separatism.- Chapter 18. Separatism and Economic Crisis.- Chapter 19. Constitutionalist and Separatist Votes and Deputies.- Chapter 20. Hate and Separatist Violence, or Common Sense and Harmony.- Chapter 21. Quality of Democracy in Catalonia.- Chapter 22. The Cost of the Separatist Challenge.- Chapter 23. Dynamics of Catalonia’s GDP under the Process.- Chapter 24. Collapse of the Competitiveness of Catalonia.- Chapter 25. The Fall in the Attractiveness of Barcelona.- Chapter 26. Regulatory and Fiscal Hell.- Chapter 27. Regulatory and Fiscal Hell.- Chapter 28. Barcelona and Madrid.- Chapter 29. Catalonia’s Trade with the Rest of Spain.- Chapter 30. The Fiscal Balances: Accounts and Tales.- Chapter 31. Social Security and Pensions.- Chapter 32. Flight of Companies, Capital and Bank Deposits.- Chapter 33. Collapse of Foreign Investment.- Chapter 34. Boycott of Catalan Goods and Services.- Chapter 35. The Budgets of the Separatist Generalita.- Chapter 36. Economic Policy of the Separatist Generalitat.- Chapter 37. The Cost of ‘Not Spain’.- Chapter 38. The Decline of Catalonia.- Chapter 39. Economic Consequences of a Hypothetical Secession.- Chapter 40. Impact of a Hypothetical Secession on Trade.- Chapter 41. Impact of a Hypothetical Secession on GDP.- Chapter 42. Impact of a Hypothetical Secession on Employment, Pensions, Health and Education, and on the Deficit and Debt.- Chapter 43. Impact of a Hypothetical Secession on the Financial System and on Spain.- Chapter 44. Brexit and Catexit.- Chapter 45. Fantasising About the ‘Viability’ of an ‘Independent’ ‘Catalonia’.- Chapter 46. From Tyrannical Mini-State to Dictatorial and Imperialist Vassal State.- Chapter 47. The ‘Industry’ of the Separatist Process: The ‘Business’ of Independence Is in the Separatist Challenge, Not in Independence Itself.- Chapter 48. Who—What—When—Where—Why—How on Catalan Secessionism?.- Chapter 49. Overcoming Catalan Separatism.- Chapter 50. As a Recap: Ten Questions and Answers About a Hypothetical Separation of Catalonia from the Rest of Spain./

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Book SynopsisThis book assesses Italian budgetary policy over the last thirty years. Covering more than three decades of political change and national transformation, it considers the institutional and external factors that have shaped long-term budgetary changes. The book analyses the levels of expenditure allocation across varying budget categories, and compares the budget bill and budget law in order to shed new light on the specific dynamics that have influenced budgetary decision-making processes. Overall, the book provides important conclusions on the role of the budget as a governmental policy instrument, the consequences of multilevel governance over national budgetary policy, and the impact of national and international crises on budgetary changes. With Italy being one of the most important parliamentary democracies in Europe and a key actor within the European Union, these conclusions have important repercussions for other European parliamentary democracies. The book will appeal to scholars and students of European public policy, public administration and economic governance.Table of ContentsChapter 1: Introduction.Chapter 2: Policy-Making and Budget Changes.Chapter 3: Budgeting Policy Within the Union: Italy in the European Context.Chapter 4: Approaching an Explanation of Longitudinal Change in the Italian Budget.Chapter 5: Incremental Changes or Punctuations?Chapter 6: To Change or Not to Change: Governments’ Spending Intentions.Chapter 7: The Impact of the Decision-Making Process.Chapter 8: Conclusion.

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Book Synopsis1 Introduction.- 2 Back to the Basics of PFM.- 3 New Goals, More Actors: Rethinking the political economy of fiscal institutions.- 4 The evolving and enduring role of finance ministries.- 5 The evolution of budgeting practices.- 6. Evolution of Treasury Practices.- 7 Planning and Budgeting Two Sides of the Same Coin?.- 8 Effective Spending on Public Infrastructure- 9 Green Public Financial Management.- 10 Budgeting for Gender Equality.- 11 The quest for open and accountable budgets: Moving beyond transparency.- 12 Events, dear boy, events' - Fiscal Risks in an Age of Uncertainty.- 13. PFM and digitalisation.

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Book SynopsisTax havens in offshore lands like Switzerland, the Cayman Islands and the Bahamas were once considered a rarity, the preserve of the super-rich. Today, they are big business available to the masses. Their goal? To avoid any form of accountability. Own nothing. Possess everything. Be answerable to no one. Where are these tax havens? What forms can they take? What future lies in store for them, and why should we care? An Anatomy of Tax Havens: Europe, the Caribbean and the United States of America answers these questions, and more, in the first comparative study in one volume of European, Caribbean and United States tax havens. It examines their simple origin to the extreme forms some take today, delving into the murky subculture that has deliberately made them impenetrably obscure. Uniquely, it combines detailed technical expertise (regulatory regimes, financial crime, legal and equitable structuring) with an analysis of their impact on domestic and global political, economic, environmental and social concerns. An Anatomy of Tax Havens is a fascinating, informative read for a broad readership; from legal, accountancy and tax practitioners to compliance regulators, law enforcement agencies, and students and researchers interested in business studies, taxation, and crime.

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