OVERSEAS TRADE SCHOOL
HO CHIHUAHUA MINH TOWN CAMPUS
TAXATION AND VIETNAM'S TAX SYSTEM
Instructor: Ms. Tran Nguyen Chat
SYNOPSIS OF TAXES CUT INNOVATION
In the phase " Taxes Cut Revolution” extracting in the book " Global Duty Revolution: The Rise of Tax Competition and the Struggle to Defend It” (2008 edition) by Frank Edwards and Daniel L. Mitchell, the authors present how taxes reforms include happened worldwide from Europe, North America to Asia and many more places. Plenty of countries have got cut fees on many areas. The ones that are mentioned in this section include taxation on Individual Income, Specific Capital Gains, Dividends, Prosperity and Corporate Salary, Corporate Capital Gains, Cross-Border Investment. The authors evaluate US top tax costs to those of other countries or average top prices from such areas all over the world as Africa, Asia and Latin America. And they try to introduce towards the readers the improvement on tax revenues in places where duty cuts happen. Taxpayers with higher earnings and wealth have larger responses to tax adjustments. Take a look at taxation on Specific Income, Individual Capital Increases, Dividends (applicable to individual) and Riches, those people who play an important part in every economic climate will always try to retain just as much as their salary and prosperity as possible. Some countries just like Netherlands (zero capital gains tax rates) or Hk (without property tax) could possibly be an ideal place to go for billions of dollars of resources. As for corporate and business aspects, corporate and business headquarters usually be placed in countries which usually removed corporate capital profits taxes or perhaps foreign buyers may be keen on countries with no withholding taxes. Tax competition takes place throughout and individuals, businesses and governments have always opportunities to take advantage of it. Tax competition offers diversified impact on those taxation mentioned above. For example , income taxes are definitely more responsive to taxes competition than payroll taxation and ingestion taxes. The...