Our strategy is to combine broad multilateral action for new tax norms and targeted capacity building, with deep long-term bilateral cooperation with a select number of partners. Tax for Development promotes effective mobilisation of public revenue principally through improved tax systems in a way that fosters development. The current phase of the Tax for Development program was launched in 2018, building on the experiences of the first phase (2011- 2017) and responds to international commitments. The secretariat is placed in Norad and serves as a focal point for coordination, program development and quality control. The Tax for Development program is organised as a portfolio under the auspices of the Section for International Development Policy at the Ministry of Foreign Affairs. However, it must be recognised that each country is different, and the Norwegian model cannot be directly transferred to other countries. Privacy Policy.The Norwegian experience of developing a fair and effective tax system, including taxation of natural resources, and an efficient tax administration, is valuable in this work. Under which this service is provided to you. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018Ĭable News Network. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN.
Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. "It's a great idea but the execution is a little challenging."
"The question is, if you take all that stuff out, are you really giving an accurate picture?" Kendall said. He also noted that the White House lumped a lot of categories together and didn't account for Social Security and transportation highway trust fund spending. Third Way health and fiscal policy analyst David Kendall called the White House calculator a "tremendous effort."īut his own online taxpayer receipt crafted for Third Way, a center-left think tank, offered a lot more details on how tax dollars are spent, breaking out such things as Amtrak, foster care and adoption assistance, and ocean oil drilling regulation and natural resource leases. "The tool would have been too unwiledly to be useful to the public if each of the very small percentages were included," the administration official said. The bank portion of TARP is turning a profit for the federal government, but there's still a net deficit of $19 billion due to losses on bailouts to the auto industry, insurer American International Group and Treasury's mortgage assistance program.Ġ:00 / 2:20 The family who gets a $54K tax refundĪ White House official said that they lumped expenditures in the "additional" catagory, because the expenses didn't fit elsewhere - not to obscure the cost of programs. That's explained in a footnote that appears when users hover their mouse over the linked text. The, White House says that's because the figure is being offset with the money banks already returned from the Troubled Asset Relief Program bailout. "Just like you and I can get an itemized receipt for the purchases we make in the grocery store, the president believes we deserve transparency as to where our government's dollars are spent," said Aneesh Chopra, White House Chief Technology Officer.īut outside observers said the White House could have been even more transparent with its online receipt.įor example the online tax receipt seems to reduce billions of dollars pumped into Fannie and Freddie. President Obama said in his State of the Union address that he wanted to give taxpayers an itemized receipt for how tax dollars are spent.Īnd the unveiling of the new online calculator couldn't be timelier, coming on the weekend when many are crunching their own tax bills.
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