Tax Saving Methods Of Overseas Corporation
Using information from the IMPLAN tax report and based on 2001 tax code, an estimated 45 billion in tax revenue is generated through indirect business taxes (27 ), employee compensation (20 ), corporate taxes (6 ), household expenditure (41 ), and proprietary income (6 ) (Figure 21). Slightly over 30 billion is estimated to go to the federal government with Social Insurance taxes accounting for 9 billion and income tax 14.2 billion. On the state side, indirect business taxes on property is projected to increase by 4.1 billion in 2030 and sales tax could increase by 5.2 billion as a result of producing 60 billion gallons of ethanol. Appendix C includes a description of the taxes included in the IMPLAN analysis along with detailed tables for the 2030 solution. Business Taxes
Every year, tax returns are matched to the farm register. Individuals' tax records are matched to operator records using key identifiers (name, sex, date of birth and address), while corporate tax records are matched to operations using other key identifiers (farm name and address). The matches are done using direct matching techniques. Very strong matches are accepted automatically weaker matches are verified and the weakest matches are automatically rejected. The thresholds between what is 'very strong', 'weaker' and 'weakest' have been determined by prior studies and results observed over time. Every year, approximately 80 of all farm register operations and 70 of all tax records are matched together. Indirect or probabilistic matching techniques were also considered, but rejected due to marginal gains for the additional costs.
Tax data In order to reduce response burden and improve the quality of farm income and expenses data, Statistics Canada's agriculture statistics programme has used corporate and individual tax data since the mid-1980s. The tax universe comprises individual tax returns reporting farm income and corporate tax returns coded to the farm sector (North American Industrial Classification System) or reporting farm income or expenses. Basic information on names, addresses and farm income is available electronically for the whole population. Samples of tax records are selected and processed every year to collect more detailed financial information for statistical purposes. Furthermore, the whole tax population is matched to the farm register as a means to combine tax data with survey data for statistical analysis. The matching is done using a series of direct matches on key identifiers. Since 2000, this matching operation has become a key element for census coverage. It is described in step 1...
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