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Aqib Aslam and Ms. Alpa Shah
The ever-increasing digitalization of businesses has accelerated the need to address the many shortcomings and unresolved issues within the international corporate income tax system. In particular, the customer or “user”—through their online activities—is now considered by many as being a critical driving force behind the value of digital services. Furthermore, the rapid growth of digital service providers over the last decade has made them an increasingly popular target for special taxes—similar to wealth and solidarity taxes—which can also help mobilize much-needed revenues in the wake of a crisis. This paper argues that a plausible conceptual case can be made to tax the value generated by users under the corporate income tax. However, a number of issues need to be tackled for user-based tax measures to become a reality, which include agreement among countries on whether user value justifies a reallocation of taxing rights, establishing the legal right to tax income derived from user value, as well as an appropriate metric for valuing user-generated data if it is ever to be used as a tax base. Furthermore, attempting to tax only certain types of business is ill-advised, especially as user data is now being exploited widely enough for it to be recognized as an input for almost all businesses. Several options present themselves for consideration—from a modified permanent establishment definition combined with taxation by formulary apportionment, to user-based royalty-type taxes—each with their own merits and misdemeanors.
International Monetary Fund

(mostly the World Bank) account for less than 3 percent of total debt. These data are based heavily on staff estimates, as there are significant problems with the compilation of official external debt data. There are problems in correctly maintaining the computer database and in ensuring that all external credits are properly recorded by the BNA’s external debt-management department. 13 Recent examples of state intervention in the provision of financial services include the launching of the Economic and Social Development Fund in 1999 to provide government credit

International Monetary Fund

Statistics Canada and the Bank of England, is furnished in box 2 . 128 . If compilers wish to computerize the register, it should save them time and effort and reduce the scope for error in dealing with survey respondents, when the survey is in operation. (See box 3 for information on computer databases.) However, if a computerized register is to operate efficiently, careful planning and careful maintenance are required; the importance of this cannot be underestimated. The type of issues and tasks that national compilers need to consider include: taking account

International Monetary Fund
In 2008, Nicaragua introduced legislation criminalizing money laundering (ML) and the financing of terrorism (FT) that is generally adequate, except for some key deficiencies. The Antimony Laundering and Combating the Financing of Terrorism (AML/CFT) preventive measures for the regulated financial sector, including its supervision, is broadly in compliance with the international standard, but the financial cooperative sector is not regulated. There was no evidence of FT risk, and there have been no suspicious transaction reports or investigations in this regard. Nicaragua does not have an FIU and generally lacks an adequate AML/CFT institutional framework.
International Monetary Fund

the collection register. 911 . The collection register is an essential tool for monitoring and controlling the dispatch and collection of data. The collection register should pass relevant information, such as response history, from one collection period to the next. The register can be a paper document or, in more sophisticated systems, a computer database. For each unit in the collection, the register records information such as the name of the enterprise in the collection, the contact name and telephone number, the form type (if more than one type of form is

International Monetary Fund

security could be assembled from the different data sources. Security reference numbers could be used as the link. Sometimes, the compiler may be able to collect only partial data—for example, stocks but not flows and income or vice versa. Using methods described in chapters 14 (income) and 16 (stocks and transactions), the compiler can derive uncollected items from data that has been collected. 1028 . The collection form is also designed on the assumption that computer database facilities can be used to assemble and supply relevant information to the compiler. As

International Monetary Fund

worksheet, which usually takes the form of a computer database. (See paragraphs 406-408 of chapter 10 for an introduction to the worksheet.) Data in the worksheet are obtained directly from data sources or from estimation modules. The analysis and verification process provides the compiler with a method of obtaining feedback on data; therefore, information for collection, estimation, and worksheet modules can be gathered during this stage. Illustration 20.1 Balance of Payments Statistical Process 1036 . When the analysis and verification process is complete