The document provides information about the euro currency and the European monetary union in 3 paragraphs:
1) The euro is the official currency of the European Union and is used by 19 of its member states. It was introduced in 1999 and adopted in 2002 to increase economic integration and stability across the EU.
2) The Maastricht Treaty led to the creation of the euro and outlined convergence criteria for EU members to qualify for the eurozone. The European Central Bank was established to implement monetary policy for the eurozone.
3) Implementing the euro involved complex financial and economic changes across many markets and sectors. Member states transitioned from national currencies to the euro at different speeds, while ensuring contracts and obligations were
Factor Affecting exchange rate and Theories of exchange rate Jatin Goyal
It explains the following topics
Factor Affecting the exchange rate
CURRENCY DEPRECIATION VS.CURRENCY APPRECIATION
Foreign exchange
Theories of exchange rate
The slides contain discussion on the global capital market as well as international lending. It also identifies the different bond markets at well as current data on international lending.
Discussion on Fisher's Theory and it's effect on money supply.
The Fisher effect is an economic theory that describes the relationship between inflation and both real and nominal interest rates. The Fisher effect states that the real interest rate equals the nominal interest rate minus the expected inflation rate.
Visit us on www.norrenberger.com for more insight.
Factor Affecting exchange rate and Theories of exchange rate Jatin Goyal
It explains the following topics
Factor Affecting the exchange rate
CURRENCY DEPRECIATION VS.CURRENCY APPRECIATION
Foreign exchange
Theories of exchange rate
The slides contain discussion on the global capital market as well as international lending. It also identifies the different bond markets at well as current data on international lending.
Discussion on Fisher's Theory and it's effect on money supply.
The Fisher effect is an economic theory that describes the relationship between inflation and both real and nominal interest rates. The Fisher effect states that the real interest rate equals the nominal interest rate minus the expected inflation rate.
Visit us on www.norrenberger.com for more insight.
The European debt crisis (often also referred to as the eurozone crisis or the European sovereign debt crisis) is a multi-year debt crisis that has been taking place in the European Union since the end of 2009. Several eurozone member states (Greece, Portugal, Ireland, Spain and Cyprus) were unable to repay or refinance their government debt or to bail out over-indebted banks under their national supervision without the assistance of third parties like other eurozone countries, the European Central Bank (ECB), or the International Monetary Fund (IMF).
The eurozone crisis was caused by a balance-of-payments crisis (a sudden stop of foreign capital into countries that had substantial deficits and were dependent on foreign lending). The crisis was worsened by the inability of states to resort to devaluation (reductions in the value of the national currency).
How to Create Map Views in the Odoo 17 ERPCeline George
The map views are useful for providing a geographical representation of data. They allow users to visualize and analyze the data in a more intuitive manner.
Model Attribute Check Company Auto PropertyCeline George
In Odoo, the multi-company feature allows you to manage multiple companies within a single Odoo database instance. Each company can have its own configurations while still sharing common resources such as products, customers, and suppliers.
Welcome to TechSoup New Member Orientation and Q&A (May 2024).pdfTechSoup
In this webinar you will learn how your organization can access TechSoup's wide variety of product discount and donation programs. From hardware to software, we'll give you a tour of the tools available to help your nonprofit with productivity, collaboration, financial management, donor tracking, security, and more.
The Roman Empire A Historical Colossus.pdfkaushalkr1407
The Roman Empire, a vast and enduring power, stands as one of history's most remarkable civilizations, leaving an indelible imprint on the world. It emerged from the Roman Republic, transitioning into an imperial powerhouse under the leadership of Augustus Caesar in 27 BCE. This transformation marked the beginning of an era defined by unprecedented territorial expansion, architectural marvels, and profound cultural influence.
The empire's roots lie in the city of Rome, founded, according to legend, by Romulus in 753 BCE. Over centuries, Rome evolved from a small settlement to a formidable republic, characterized by a complex political system with elected officials and checks on power. However, internal strife, class conflicts, and military ambitions paved the way for the end of the Republic. Julius Caesar’s dictatorship and subsequent assassination in 44 BCE created a power vacuum, leading to a civil war. Octavian, later Augustus, emerged victorious, heralding the Roman Empire’s birth.
Under Augustus, the empire experienced the Pax Romana, a 200-year period of relative peace and stability. Augustus reformed the military, established efficient administrative systems, and initiated grand construction projects. The empire's borders expanded, encompassing territories from Britain to Egypt and from Spain to the Euphrates. Roman legions, renowned for their discipline and engineering prowess, secured and maintained these vast territories, building roads, fortifications, and cities that facilitated control and integration.
The Roman Empire’s society was hierarchical, with a rigid class system. At the top were the patricians, wealthy elites who held significant political power. Below them were the plebeians, free citizens with limited political influence, and the vast numbers of slaves who formed the backbone of the economy. The family unit was central, governed by the paterfamilias, the male head who held absolute authority.
Culturally, the Romans were eclectic, absorbing and adapting elements from the civilizations they encountered, particularly the Greeks. Roman art, literature, and philosophy reflected this synthesis, creating a rich cultural tapestry. Latin, the Roman language, became the lingua franca of the Western world, influencing numerous modern languages.
Roman architecture and engineering achievements were monumental. They perfected the arch, vault, and dome, constructing enduring structures like the Colosseum, Pantheon, and aqueducts. These engineering marvels not only showcased Roman ingenuity but also served practical purposes, from public entertainment to water supply.
Operation “Blue Star” is the only event in the history of Independent India where the state went into war with its own people. Even after about 40 years it is not clear if it was culmination of states anger over people of the region, a political game of power or start of dictatorial chapter in the democratic setup.
The people of Punjab felt alienated from main stream due to denial of their just demands during a long democratic struggle since independence. As it happen all over the word, it led to militant struggle with great loss of lives of military, police and civilian personnel. Killing of Indira Gandhi and massacre of innocent Sikhs in Delhi and other India cities was also associated with this movement.
The Art Pastor's Guide to Sabbath | Steve ThomasonSteve Thomason
What is the purpose of the Sabbath Law in the Torah. It is interesting to compare how the context of the law shifts from Exodus to Deuteronomy. Who gets to rest, and why?
Unit 8 - Information and Communication Technology (Paper I).pdfThiyagu K
This slides describes the basic concepts of ICT, basics of Email, Emerging Technology and Digital Initiatives in Education. This presentations aligns with the UGC Paper I syllabus.
The French Revolution, which began in 1789, was a period of radical social and political upheaval in France. It marked the decline of absolute monarchies, the rise of secular and democratic republics, and the eventual rise of Napoleon Bonaparte. This revolutionary period is crucial in understanding the transition from feudalism to modernity in Europe.
For more information, visit-www.vavaclasses.com
This is a presentation by Dada Robert in a Your Skill Boost masterclass organised by the Excellence Foundation for South Sudan (EFSS) on Saturday, the 25th and Sunday, the 26th of May 2024.
He discussed the concept of quality improvement, emphasizing its applicability to various aspects of life, including personal, project, and program improvements. He defined quality as doing the right thing at the right time in the right way to achieve the best possible results and discussed the concept of the "gap" between what we know and what we do, and how this gap represents the areas we need to improve. He explained the scientific approach to quality improvement, which involves systematic performance analysis, testing and learning, and implementing change ideas. He also highlighted the importance of client focus and a team approach to quality improvement.
We all have good and bad thoughts from time to time and situation to situation. We are bombarded daily with spiraling thoughts(both negative and positive) creating all-consuming feel , making us difficult to manage with associated suffering. Good thoughts are like our Mob Signal (Positive thought) amidst noise(negative thought) in the atmosphere. Negative thoughts like noise outweigh positive thoughts. These thoughts often create unwanted confusion, trouble, stress and frustration in our mind as well as chaos in our physical world. Negative thoughts are also known as “distorted thinking”.
How to Make a Field invisible in Odoo 17Celine George
It is possible to hide or invisible some fields in odoo. Commonly using “invisible” attribute in the field definition to invisible the fields. This slide will show how to make a field invisible in odoo 17.
2. PRESENTATED BY : SOUMITA PATRA 67 DIPTAKSHYA BANARJREE 76 AVIJIT BHATTACHARYYA 91 SOUMALYA SEN 120 SREEJI S NAIR 100
3.
4. Eleven member states have adopted it collectively known as Eurozone.(Austria, Belgium, Cyprus, Finland, France, Germany, Greece, Ireland, Italy, etc.)
6. The euro was introduced to world financial markets as an currency in 1999 and launched coin and Banknote on 1st, January 2002.
7. All nations that have joined the EU since the 1993 implementation of the Maastricht Treaty
8. The euro sign (€) is the currency sign used for the euro the official currency of the European Union(EU).
9. The design was presented to the public by the European Commission on 12th December , 1996.
10.
11. Signed on 7 February 1992 between members of European community
12.
13. Eleven countries have been selected as the members of EMU. As part of the EMU, these eleven countries now make up the world's second-largest economy, after the United States
14. Greece and Sweden, failed to meet the convergence requirements in time to join the EMU in the first round. Sweden failed to satisfy two of the conditions:
33. Euro EG opened company,stock exchange,accounting¤cy law to the Euro
34. Paved way for changeover on the financial markets & exchangesthat lead companies to adjust their accounts,equity capital structures
35.
36.
37. New exchange rate mechanism (ERM II) is set up to provide stability between the euro and the national currencies of countries that haven't yet entered the eurozone
38. The 11 initial countries that will participate in the third stage from 1 january 1999 are selected.
39.
40. ECB FUNCTIONING MECHANISM ECB working procedures are segregated into three parts: 1. GOVERNMENTAL 2. EXECUTIVE SECTION 3. GENERAL BODY
85. ROADS TO REFORM Evaluations of any proposal on the harmonization of corporate income tax or its assessment base will differ depending on the objectives of taxation reform and on what it is supposed to deliver. The objective of tax neutrality i.e., efficient and incentive-neutral taxation, is a general requirement of any regime. Investment decisions should not be distorted. And it is equally important to avoid double taxation or no taxation of incomes. Indirectly linked to this is the aim to ideally simple and transparent taxation. This should involve the minimum possible compliance costs for companies and the minimum possible administrative costs for the tax authorities. Moreover, in order to determine the basis of taxation for the Member States involved, intra-group transactions within the corporate groups have to be simulated by means of transfer pricing systems. It is also necessary to secure to the states, appropriate share of the tax base and guarantee them tax revenues. For each State uses the part of its tax receipts to provide public goods that companies also use.
86. Theoretical Solution TO THE PROBLEM ? Source Principle: When a State levies taxes only on income obtained within its jurisdiction, it is the Source Principle Residence Principle: When a State taxes the worldwide income of a taxpayer resident within its jurisdiction, we use the term Residence Principle. Consistent implementation of the residence principle combined with the imputation of subsidiaries’ income to the parent company would theoretically be a possible alternative to CCCTB.This option would retain the separate calculation of profits , and differences in the tax rates would not give rise to distortions in Investment decisions.
87. Common consolidated corporate tax base (ccctb)The COMMON CONSOLIDATED CORPORATE TAX BASE (CCCTB) Basic Concept: It is a proposal comprises creation of a uniform EU-wide tax base permitting the consolidation of profits and losses. So far the European Commission envisages offering companies the CCCTB as an additional option, enabling them to choose between the previous national system and the new regime. The total profit calculated this way would then have to be allocated by means of an apportionment system.(i.e., with reference to certain key variables)to the Member States were the corporation is active.
88. STARTING EFFECTS OF CCCTB 1.The European Commission plans to submit a proposal by the end of 2008 on harmonizing the corporate income tax base. Helps the multi jurisdictional corporations as they can apply it as an alternative Taxpaying scheme. 2. The Companies could potentially cut their tax compliance ( as per certain accepted standards) cost. 3. CCCTB involves a considerable curtailment of the Member States Tax autonomy (independence). - This requires unanimity among the member states 4. The CCCTB concept is not a self-contained approach; rather, it allows various methodological designs. 5. The CCCTB requires an allocation mechanism with which to ‘share out’ an enterprise’s consolidated tax base among Member States. 6. An apportionment formula involves incentive effects for both companies and Member States. 7. It safeguards the principles of taxation at source.
89. ALLOCATION MECHANISM:THE MOST TRICKIEST PORTION The European Union wants to fairly divide the tax base among the Member States. It is necessary to apportion the tax base because companies operating under a CCCTB regime combine the profits of all their subsidiaries. Since this will enable full offsetting of profits and losses, all else being equal, overall tax revenues are likely to fall. VARIOUS ALLOCATION APPROACHES: Benefit Factor Formula- Profits should be allocated to relative use of public services provided by the State Factor Location Formula- Apportionment of Profits should be based on the where Physical Factors of Production are located. Source of Profits Formula- Apportion Profits based on where the economic activities has taken place.
90. MACRO- VERUS- MICRO FACTORS MACRO FACTORS- CONSUMPTION & GROSS DOMESTIC PRODUCT MICRO FACTORS- CAPITAL, PAYROLL & TURNOVER/ SALES Both alternatives have their advantages and drawbacks. The European Commission gives preference to an apportionment formula based on MICRO-FACTORS following the UNITED STATES & CANADA as the role models for the Tax System.
91. LIMITATIONS OF CCCTB High Administrative costs for the Participating Countries- Have to administer two system in tandem. Third Country regulations impose heavier administrative burden- Parallel Use of Different System No incentive-neutral taxation Tax Competition intensifies Real impact on tax revenues are in vague Restriction on the Member States’ Autonomy
92. CONCLUSION : The concept for a CCCTB is a good idea, provided the Member States are prepared to accept the loss of their autonomy. The main problem is with the international taxation i.e. the equitable sharing of tax revenues among the Member States. Achieving a consensus between 27 Member Countries for the common tax base will be difficult Tax legislation is subject to constant changes and developments. Ideas for new products and innovative technologies creates a need to adjust taxation systems. Last but not the least, it is to be seen that how corporate income tax is integrated into Income tax in general