William Nordhaus has been writing for four decades about climate change and the value of using prices to reduce carbon emissions. His research shows that raising prices through, say, a carbon tax, is a far more effective and efficient way to lower carbon emissions than direct government controls on the quantity of emissions through, say, regulatory limits on cars and power plants.
Chile, Mexico and Peru in March became members of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). The agreement reduces tariffs between 11 countries, including Japan and Canada, which amount to 13% of the global economy.
Audi AG has teamed up with Amazon to install home chargers for E-tron buyers.
The IRS classifies all cryptocurrencies as property. Buying Bitcoin is not a taxable event. But using Bitcoin to buy something else is considered a sale of Bitcoin and selling property for more than you purchased it for is a taxable event. If you "sell" some Bitcoin at a profit that you purchased within the last year, you will have to report short term capital gains on your tax return and pay ordinary income tax rates.
The best thing the dollar has going for it is that its challengers are weak. The euro represents a monetary union, but there’s no central taxing and spending authority. Italy’s recent woes are only the latest challenge to the euro zone’s durability. China is another pretender to the throne. But China’s undemocratic leadership is wary of the openness to global trade and capital flows that having a widely used currency requires. In a December interview with Quartz news site, Eichengreen said, “Every true global currency in the history of the world has been the currency of a democracy or a political republic, as far back as the republican city-states of Venice, Florence, and Genoa in the 14th and 15th centuries.”
Swiss startup SEBA Crypto AG has raised 100 million Swiss francs ($103 million) to build a bank offering cryptocurrency services to companies and investors while extending traditional banking services to firms in the new industry.
IRS warns that scammers continue to pose as the IRS, making threatening phone calls and using email phishing schemes to lure taxpayers. The scams may be particularly prevalent ahead of the Oct. 15 tax-filing extension deadline.
OVDP is more reasonable. Eight years of back taxes with penalties and interest. A reduced FBAR penalty - 27.5% of highest balance over eight years (50% if you used the wrong bank). No criminal charge. No prison time. The window closes on OVDP on September 28th.
A tariff is a tax on imported goods […] it is almost always paid directly by the importer (usually a domestic firm), and never by the exporting country. Thus, if the US imposes a tariff on Chinese televisions, the duty is paid to the US Customs and Border Protection Service at the border by a US broker representing a US importer.
Investors are starting to notice that the stock indexes covering the so-called “Emerging Markets” have been declining steadily. There can always be many reasons for such a development, but the leading culprits these days are slowing growth in the Chinese economy (and China is a dominant customer of businesses in the developing world) and tariff/trade war concerns between China and the U.S.