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tax under the branch profits tax when treated as remitted outside of the United States.
It is hard to believe that control proponents really think that imposing "windfall profits taxes" (WPT), now under consideration, would boost supplies.
For royalty/tax contracts in the form of joint ventures with SOCAR an additional profits tax is also payable and they may also contain some production sharing elements, thus blurring the distinction between the types of contract.
In effect, the tax is equal to 51.71% of the total profits that exceed 44.47% of the flotation value, which meets the general understanding of an excess profits tax (that is, a tax on profits above the deemed normal level of return; here a normal return equals 44.47% of the flotation value).
Senate Bill 155 would allow businesses to increase their maximum annual deduction on equipment from the business profits tax (the Section 179 deduction under federal tax law) to the federal limit of $500,000.
They will only pay an extra 8% of this with the proposed new super profits tax.
IMF considers global profits tax on banks The International Monetary Fund is considering plans for an "excess financial transactions, which Prime Minister Gordon Brown also threw his weight behind.
* The elimination by the New Protocol of the branch profits tax for Dutch companies directly engaged in business in the United States will encourage further "inbound" investment by Dutch companies in the U.S.
It will be good news for punters - and bookmakers - if the rate of Gross Profits Tax is set at 15 per cent.
Other significant provisions allow for the imposition of a branch profits tax of 5% and provide tiebreaker rules for residency determinations and rules for the taxation of real property, capital gains, transportation and other types of income.