Today much of America practices tax-driven renewal schemes, often called redevelopment.
One of his clients, a charity, is being threatened with a suit by a "donor" who discovered a better way to avoid capital gains tax after he had put assets in a tax-driven remainder trust.
This is the main reason recent tax credit-driven solutions, such as the New Markets Tax Credit and the Renewable Energy Tax Credit have failed to stimulate the growth in the areas they have targeted.
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But they also know that Europe's traditional high-tax, state-driven economic model had hit the buffers in terms of creating jobs and fostering growth.
But even before the global economic slowdown, the US had moved into deficit - driven largely by tax cuts and the cost of the Iraq war.
No, it's not just the absurd complexity of the U.S. Tax Code that has driven more than one-half of individual taxpayers to seek professional help completing their returns.
He said pension and provident funds will remain untouched, and there won't be any need for further salary and pension cuts, or an earlier demand by creditors for a financial transaction tax, which would have damaged Cyprus' financial services-driven economy.
This high ROIC has been largely driven by a 15% CAGR in after-tax cash flow ( NOPAT) since 1998.
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Boeing reported a 13% increase in first-quarter earnings Wednesday, as a smaller tax bill helped the company offset softer revenues driven by a decrease in its commercial airplane business.
Rather, the goal should be to change the rules, allocate the power to tax profits to every country where these companies have operations, and acknowledge that in the data-driven economy, users themselves have become part of these operations.
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Not all of this is to avoid tax: those passed over as top dog in the parent company find solace in the chauffeur-driven car and free golf-club membership that go with the presidency of one of the offspring.
The company said the results were driven by strong top-line growth and improved productivity, partially offset by a higher tax rate.
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