- Act 72 transforms Puerto Rico's tax system, increasing the sales and use tax rate to 10.5% effective July 1, 2015.
- Beginning October 1, 2015, certain business to business services and designated professional services will be subject to a special 4% tax rate.
- Excluded from the 4% rate are many services provided by the government, educational services, financial services, health services, and services between controlled groups.
GST India Software - Cloud ERP Software For SMEs
1. It’s a Destination based Tax – means based on the Customer
location, we need to pick that state Taxes, Cess etc
2. Place of Supply of Goods and Service is defined
3. Govt is focusing to collect more information per Invoice
including Product HSN Codes and Taxes applied per line items
4. Inter state Input tax credit is available now.
5. Taxable supplies to Include Inter and Intra State taxes
6. New things to note
1. Tax on removal of Goods for Stock transfer within State
2. Based on the duration Tax on Goods issued to Subcontractor (Inter and
Intra State) will be charged.
3. Complimentary and Free Samples are taxed
Souce: www.actouch.com
Presentation on Model GST Law by CA. Juhin Ajmera CA Juhin Ajmera
With the ratification of the GST Bill by more than half of the State Legislatures, it is now certain that GST is round the corner with even the Prime Misnister Modi endorsing April 1, 2017 as its go live date. Whether it will go live by then or will need couple of months more is a matter of time and depends on the outcome of the GST council meets. However, it is about time what we start educating ourselves about the Biggest Tax Reform of our times.
In this presentation, I have tried to present the basic idea, framework and advantages of GST regime over the present Indirect Tax Structure.
Salient Features of GST,
GST Model,
Payment of Tax,
Benefit of GST,
Subsuming of Existing Taxes,
Tax Levy under GST,
Input Tax Credit (ITC),
Payment of Taxes
gst 2017 ppt,
goods and service tax,
Connect with GST Suvidha Center for all GST related services like GST Return Filing and GST Registration. Also open your GST Suvidha Kendra to create new business opportunities. Join us as one stop solutions for all GST services today.
VAT driven local purchases
Cost driven CST purchases
Duty burden on imports
Complex State Laws
Ever changing tax landscape
Different decisions on the same issue
Border controls
GST India Software - Cloud ERP Software For SMEs
1. It’s a Destination based Tax – means based on the Customer
location, we need to pick that state Taxes, Cess etc
2. Place of Supply of Goods and Service is defined
3. Govt is focusing to collect more information per Invoice
including Product HSN Codes and Taxes applied per line items
4. Inter state Input tax credit is available now.
5. Taxable supplies to Include Inter and Intra State taxes
6. New things to note
1. Tax on removal of Goods for Stock transfer within State
2. Based on the duration Tax on Goods issued to Subcontractor (Inter and
Intra State) will be charged.
3. Complimentary and Free Samples are taxed
Souce: www.actouch.com
Presentation on Model GST Law by CA. Juhin Ajmera CA Juhin Ajmera
With the ratification of the GST Bill by more than half of the State Legislatures, it is now certain that GST is round the corner with even the Prime Misnister Modi endorsing April 1, 2017 as its go live date. Whether it will go live by then or will need couple of months more is a matter of time and depends on the outcome of the GST council meets. However, it is about time what we start educating ourselves about the Biggest Tax Reform of our times.
In this presentation, I have tried to present the basic idea, framework and advantages of GST regime over the present Indirect Tax Structure.
Salient Features of GST,
GST Model,
Payment of Tax,
Benefit of GST,
Subsuming of Existing Taxes,
Tax Levy under GST,
Input Tax Credit (ITC),
Payment of Taxes
gst 2017 ppt,
goods and service tax,
Connect with GST Suvidha Center for all GST related services like GST Return Filing and GST Registration. Also open your GST Suvidha Kendra to create new business opportunities. Join us as one stop solutions for all GST services today.
VAT driven local purchases
Cost driven CST purchases
Duty burden on imports
Complex State Laws
Ever changing tax landscape
Different decisions on the same issue
Border controls
GST and GSTN Goods and Service Tax Network mukesh negi
It's all about basic understanding of GST and GSTN which is going to rollout in India very soon. People are still not clear on the concept of GST so I have shared my knowledge with respect to same here.
Presentation made on the Cambodia Restaurant Association, "Tax for Restaurants". Discusses tax incentives granted during Covid 19 for the restaurant industry and proposes a tax incentive model for the hospitality industry post Covid.
What Is GST | Procedure To Register Under GST | GST DocumentsdeAsra Foundation
In this PPT, you will learn what is GST, applicability of GST, procedure to register under GST, the documents required. For more details on the checklist for GST registration, read here: https://www.deasra.in/msme-checklist/checklist-for-gst-registration-application/?utm_source=referral&utm_medium=slideshare
VAT driven local purchases
Cost driven CST purchases
Duty burden on imports
Complex State Laws
Ever changing tax landscape
Different decisions on the same issue
Border controls
Analyse how will gst impact your businessvramaratnam
Vramaratnam is one of the best business consultants in Chennai.It gives you an indepth analysis of the impact of GST on propertry sales and capital gains tax.
Handbook ppt on gst goods & service tax _ top gst expertsCA Milin Shah
GST is on the way from 1st July 2017, Be ready for the biggest change in tax world. Would like to get everything about GST in your hand? right now ? right away _just click on the link to get everything on GST in sweet & simple language.
The latest tax reform in India is the introduction of GST as a single unified indirect tax. In this presentation we have presented the overview of GST and it's implications as to how it will impact the users in different levels.
Spine Software Systems presents GST Tutorial Series.
In this second chapter of the series, we have covered Enrolment Process in detail.
All the taxable persons are supposed to follow this process to get enrolled in GST.
The process involves:
1. Collect Provisional ID and Password from the Tax Authorities
2. Register your Mobile Number and Email ID on the GST portal
3. Create your Username and Password
4. Register your Digital Signature Certificate
5. Enter your details (Business Details, Promoter/ Partner Details, Authorized Signatory, Principal Place of Business, HSN/ SAC Codes, Bank Accounts)
6. Sign and submit your enrollment.
Note: We have prepared this self-guided tutorial as per the Goods and Services Tax (GST) Act of India.
As a step towards implementation of GST in India, the Central Board of Excise and Customs (“CBEC”) has released the Draft Goods and Services Tax Rules (“GST Rules”) on the public domain recently. Along with GST Rules, CBEC has also released draft formats of the various Forms mentioned in the said Rules. This presentation gives a summary of the provisions of the Draft Rules.
GST and GSTN Goods and Service Tax Network mukesh negi
It's all about basic understanding of GST and GSTN which is going to rollout in India very soon. People are still not clear on the concept of GST so I have shared my knowledge with respect to same here.
Presentation made on the Cambodia Restaurant Association, "Tax for Restaurants". Discusses tax incentives granted during Covid 19 for the restaurant industry and proposes a tax incentive model for the hospitality industry post Covid.
What Is GST | Procedure To Register Under GST | GST DocumentsdeAsra Foundation
In this PPT, you will learn what is GST, applicability of GST, procedure to register under GST, the documents required. For more details on the checklist for GST registration, read here: https://www.deasra.in/msme-checklist/checklist-for-gst-registration-application/?utm_source=referral&utm_medium=slideshare
VAT driven local purchases
Cost driven CST purchases
Duty burden on imports
Complex State Laws
Ever changing tax landscape
Different decisions on the same issue
Border controls
Analyse how will gst impact your businessvramaratnam
Vramaratnam is one of the best business consultants in Chennai.It gives you an indepth analysis of the impact of GST on propertry sales and capital gains tax.
Handbook ppt on gst goods & service tax _ top gst expertsCA Milin Shah
GST is on the way from 1st July 2017, Be ready for the biggest change in tax world. Would like to get everything about GST in your hand? right now ? right away _just click on the link to get everything on GST in sweet & simple language.
The latest tax reform in India is the introduction of GST as a single unified indirect tax. In this presentation we have presented the overview of GST and it's implications as to how it will impact the users in different levels.
Spine Software Systems presents GST Tutorial Series.
In this second chapter of the series, we have covered Enrolment Process in detail.
All the taxable persons are supposed to follow this process to get enrolled in GST.
The process involves:
1. Collect Provisional ID and Password from the Tax Authorities
2. Register your Mobile Number and Email ID on the GST portal
3. Create your Username and Password
4. Register your Digital Signature Certificate
5. Enter your details (Business Details, Promoter/ Partner Details, Authorized Signatory, Principal Place of Business, HSN/ SAC Codes, Bank Accounts)
6. Sign and submit your enrollment.
Note: We have prepared this self-guided tutorial as per the Goods and Services Tax (GST) Act of India.
As a step towards implementation of GST in India, the Central Board of Excise and Customs (“CBEC”) has released the Draft Goods and Services Tax Rules (“GST Rules”) on the public domain recently. Along with GST Rules, CBEC has also released draft formats of the various Forms mentioned in the said Rules. This presentation gives a summary of the provisions of the Draft Rules.
Each month, join us as we highlight and discuss hot topics ranging from the future of higher education to wearable technology, best productivity hacks and secrets to hiring top talent. Upload your SlideShares, and share your expertise with the world!
Not sure what to share on SlideShare?
SlideShares that inform, inspire and educate attract the most views. Beyond that, ideas for what you can upload are limitless. We’ve selected a few popular examples to get your creative juices flowing.
Act to Transform the Tax System of the Commonwealth of Puerto Rico [P de la C...Alex Baulf
Summary of P de la C 2329 “Act to Transform the Tax System of the Commonwealth of Puerto Rico”
- Income Tax
- Sales and Use Tax – Value Added Tax
For transactions after 12/31/15
General rate is 16% on taxable transactions, except for the following which have a 0% rate:
- goods and services for export
- certain imports by manufacturers (Manufacturing Plant Certificate)
For transactions before 1/1/16, taxable items pursuant to 2011 Code will be subject to 16% (instead of 7%).
- Municipalities may not collect
- Treasury will make the payment to the eligible consumer
Puerto Rico: Value Added Tax - Impact on the Services IndustryAlex Baulf
Act 72 which amends the Internal Revenue Code for a New Puerto Rico introduces a value added tax system in Puerto Rico that will replace the Sales and Use tax system (“SUT”) effective April 1, 2016, for state tax purposes.The SUT will continue to be in place for municipal tax purposes after March 31, 2016.
This guidance from Kevane Grant Thornton LLP specifically relates to the services industry.
Puerto Rico: Value Added Tax - Impact to Educational services & Non-profit or...Alex Baulf
Act 72 which amends the Internal Revenue Code for a New Puerto Rico introduces a value added tax system in Puerto Rico that will replace the Sales and Use tax system (“SUT”) effective April 1, 2016, for state tax purposes. The SUT will continue to be in place for municipal tax purposes after
March3 1, 2016.
This guidance issued by Kevane Grant Thornton LLP specifically relates to educational services and non-profit organizations.
Puerto Rico: How the proposed Value Added Tax will impact the Renewable (Gree...Alex Baulf
Act 72 which amends the Internal Revenue Code for a New Puerto Rico introduces a value added tax system in Puerto Rico that will replace the Sales and Use tax system (“SUT”)
effective April 1, 2016, for state tax purposes.
The SUT will continue to be in place for municipal tax purposes after April 1, 2016.
This guidance from Kevane Grant Thornton LLP specifically relates to the renewable green energy industry.
Puerto Rico: Value Added Tax - Impact on the Hotel and Tourism IndustriesAlex Baulf
Act 72 which amends the Internal Revenue Code for a New Puerto Rico introduces a value added tax system in Puerto Rico that will replace the Sales and Use tax system (“SUT”)effective April 1, 2016, for state tax purposes. The SUT will continue to be in place for municipal tax purposes after March 31, 2016.
This guidance from Kevane Grant Thornton LLP specifically relates to the impact on the hotel and tourism industries.
Puerto Rico: Value Added Tax - Impact on the Restaurant IndustryAlex Baulf
Act 72 which amends the Internal Revenue Code for a New Puerto Rico introduces a value added tax system in Puerto Rico that will replace the Sales and Use tax system (“SUT”)
effective April 1, 2016, for state tax purposes.
The SUT will continue to be in place for municipal tax purposes after April 1, 2016.
This guidance from Kevane Grant Thornton LLP specifically relates to the restaurant industry.
Puerto Rico: How the proposed Value Added Tax will impact the Construction In...Alex Baulf
Act 72 which amends the Internal Revenue Code for a New Puerto Rico introduces a value added tax system in Puerto Rico that will replace the Sales and Use tax system (“SUT”)
effective April 1, 2016, for state tax purposes.
The SUT will continue to be in place for municipal tax purposes after April 1, 2016.
This guidance from Kevane Grant Thornton LLP specifically relates to the construction industry.
Puerto Rico: Value Added Tax - Impact on the Manufacturing IndustryAlex Baulf
Act 72 which amends the Internal Revenue Code for a New Puerto Rico introduces a value added tax system in Puerto Rico that will replace the Sales and Use tax system (“SUT”)
effective April 1, 2016, for state tax purposes.
The SUT will continue to be in place for municipal tax purposes after March 31, 2016.
This guidance from Kevane Grant Thornton LLP specifically relates to the manufacturing industry.
Puerto Rico: Value Added Tax - Impact on Wholesale and Retail IndustriesAlex Baulf
Act 72 which amends the Internal Revenue Code for a New Puerto Rico introduces a value added tax system in Puerto Rico that will replace the Sales and Use tax system (“SUT”) effective April 1, 2016, for state tax purposes. The SUT will continue to be in place for municipal tax purposes after
March3 1, 2016.
This guidance from Kevane Grant Thornton LLP specifically relates to the wholesale and retail industries.
SYNERGY Global VAT/GST update – Overview of recent changes & what’s on the ho...Alex Baulf
Slides from Thomson Reuters' SYNERGY conference London, 2013 session with Grant Thornton discussing recent topical VAT/GST reform from around the globe. Topics discussed include the China VAT reform, the US Marketplace Fairness Act, GST in India, and the EU VAT changes in 2015.
California Incentives and Multi-State Tax Issues webinar slidesRoger Royse
An online discussion of various state tax issues for companies and individuals doing business in California. Our panelists cover recent developments in California income and sales tax, tax credits and incentives, multi-state tax issues for technology companies and state residency planning for individuals. Our panel of speakers includes:
Roger Royse, Royse Law Firm
Monika Miles, Miles Consulting Group
David Wittrock, Price, Wittrock CPA LLP
David Spence, Royse Law Firm
International indirect tax - the view from Grant ThorntonAlex Baulf
This placemat sets out two indirect tax issues facing businesses with a global footprint or international supply chain and some of Grant Thornton's solutions:
• How can we manage indirect tax in our global supply chain?
• How can we manage our VAT, GST and sales tax compliance obligations globally?
This also sets out details of what Grant Thornton sees as the current hot topics in indirect tax:
• Automation and tax technology
• Taxing the digital economy
• Focus on processes and controls
VAT Club: International Indirect Tax update - September 2015Alex Baulf
Please see the slidepack from the International Indirect Tax update breakout session at Grant Thornton's VAT Club event held in London on Wednesday 16 September. This high level update includes:
- Italian VAT changes
- EU case law update
- update on the Union Customs Code
- rate changes in Greece and Kosovo
- update on India GST implementation
- update on Egypt VAT implementation
- update on UAE VAT implementation
- the digital economy - update on legislation aimed at non-resident suppliers of digital and electronic services in Japan, and across EMEA, Asia-Pac and North America
- Skandia decision - update from EU VAT Expert Group.
Goods And Services Tax (GST) will be due to implement on 1 April 2014. Many enterprises still unsure how the GST carry out. Through these slide presentation will be guide you on how to prepare your business toward the get ready and deep understand the impact of the GST toward your business
Similar to Webcast – SUT Transition Period June 24, 2015 (20)
Currently pi network is not tradable on binance or any other exchange because we are still in the enclosed mainnet.
Right now the only way to sell pi coins is by trading with a verified merchant.
What is a pi merchant?
A pi merchant is someone verified by pi network team and allowed to barter pi coins for goods and services.
Since pi network is not doing any pre-sale The only way exchanges like binance/huobi or crypto whales can get pi is by buying from miners. And a merchant stands in between the exchanges and the miners.
I will leave the telegram contact of my personal pi merchant. I and my friends has traded more than 6000pi coins successfully
Tele-gram
@Pi_vendor_247
how to sell pi coins on Bitmart crypto exchangeDOT TECH
Yes. Pi network coins can be exchanged but not on bitmart exchange. Because pi network is still in the enclosed mainnet. The only way pioneers are able to trade pi coins is by reselling the pi coins to pi verified merchants.
A verified merchant is someone who buys pi network coins and resell it to exchanges looking forward to hold till mainnet launch.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
How to get verified on Coinbase Account?_.docxBuy bitget
t's important to note that buying verified Coinbase accounts is not recommended and may violate Coinbase's terms of service. Instead of searching to "buy verified Coinbase accounts," follow the proper steps to verify your own account to ensure compliance and security.
The Evolution of Non-Banking Financial Companies (NBFCs) in India: Challenges...beulahfernandes8
Role in Financial System
NBFCs are critical in bridging the financial inclusion gap.
They provide specialized financial services that cater to segments often neglected by traditional banks.
Economic Impact
NBFCs contribute significantly to India's GDP.
They support sectors like micro, small, and medium enterprises (MSMEs), housing finance, and personal loans.
when will pi network coin be available on crypto exchange.DOT TECH
There is no set date for when Pi coins will enter the market.
However, the developers are working hard to get them released as soon as possible.
Once they are available, users will be able to exchange other cryptocurrencies for Pi coins on designated exchanges.
But for now the only way to sell your pi coins is through verified pi vendor.
Here is the telegram contact of my personal pi vendor
@Pi_vendor_247
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
If you are looking for a pi coin investor. Then look no further because I have the right one he is a pi vendor (he buy and resell to whales in China). I met him on a crypto conference and ever since I and my friends have sold more than 10k pi coins to him And he bought all and still want more. I will drop his telegram handle below just send him a message.
@Pi_vendor_247
Financial Assets: Debit vs Equity Securities.pptxWrito-Finance
financial assets represent claim for future benefit or cash. Financial assets are formed by establishing contracts between participants. These financial assets are used for collection of huge amounts of money for business purposes.
Two major Types: Debt Securities and Equity Securities.
Debt Securities are Also known as fixed-income securities or instruments. The type of assets is formed by establishing contracts between investor and issuer of the asset.
• The first type of Debit securities is BONDS. Bonds are issued by corporations and government (both local and national government).
• The second important type of Debit security is NOTES. Apart from similarities associated with notes and bonds, notes have shorter term maturity.
• The 3rd important type of Debit security is TRESURY BILLS. These securities have short-term ranging from three months, six months, and one year. Issuer of such securities are governments.
• Above discussed debit securities are mostly issued by governments and corporations. CERTIFICATE OF DEPOSITS CDs are issued by Banks and Financial Institutions. Risk factor associated with CDs gets reduced when issued by reputable institutions or Banks.
Following are the risk attached with debt securities: Credit risk, interest rate risk and currency risk
There are no fixed maturity dates in such securities, and asset’s value is determined by company’s performance. There are two major types of equity securities: common stock and preferred stock.
Common Stock: These are simple equity securities and bear no complexities which the preferred stock bears. Holders of such securities or instrument have the voting rights when it comes to select the company’s board of director or the business decisions to be made.
Preferred Stock: Preferred stocks are sometime referred to as hybrid securities, because it contains elements of both debit security and equity security. Preferred stock confers ownership rights to security holder that is why it is equity instrument
<a href="https://www.writofinance.com/equity-securities-features-types-risk/" >Equity securities </a> as a whole is used for capital funding for companies. Companies have multiple expenses to cover. Potential growth of company is required in competitive market. So, these securities are used for capital generation, and then uses it for company’s growth.
Concluding remarks
Both are employed in business. Businesses are often established through debit securities, then what is the need for equity securities. Companies have to cover multiple expenses and expansion of business. They can also use equity instruments for repayment of debits. So, there are multiple uses for securities. As an investor, you need tools for analysis. Investment decisions are made by carefully analyzing the market. For better analysis of the stock market, investors often employ financial analysis of companies.
how to swap pi coins to foreign currency withdrawable.DOT TECH
As of my last update, Pi is still in the testing phase and is not tradable on any exchanges.
However, Pi Network has announced plans to launch its Testnet and Mainnet in the future, which may include listing Pi on exchanges.
The current method for selling pi coins involves exchanging them with a pi vendor who purchases pi coins for investment reasons.
If you want to sell your pi coins, reach out to a pi vendor and sell them to anyone looking to sell pi coins from any country around the globe.
Below is the contact information for my personal pi vendor.
Telegram: @Pi_vendor_247
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
what is the future of Pi Network currency.DOT TECH
The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
The European Unemployment Puzzle: implications from population agingGRAPE
We study the link between the evolving age structure of the working population and unemployment. We build a large new Keynesian OLG model with a realistic age structure, labor market frictions, sticky prices, and aggregate shocks. Once calibrated to the European economy, we quantify the extent to which demographic changes over the last three decades have contributed to the decline of the unemployment rate. Our findings yield important implications for the future evolution of unemployment given the anticipated further aging of the working population in Europe. We also quantify the implications for optimal monetary policy: lowering inflation volatility becomes less costly in terms of GDP and unemployment volatility, which hints that optimal monetary policy may be more hawkish in an aging society. Finally, our results also propose a partial reversal of the European-US unemployment puzzle due to the fact that the share of young workers is expected to remain robust in the US.
What website can I sell pi coins securely.DOT TECH
Currently there are no website or exchange that allow buying or selling of pi coins..
But you can still easily sell pi coins, by reselling it to exchanges/crypto whales interested in holding thousands of pi coins before the mainnet launch.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and resell to these crypto whales and holders of pi..
This is because pi network is not doing any pre-sale. The only way exchanges can get pi is by buying from miners and pi merchants stands in between the miners and the exchanges.
How can I sell my pi coins?
Selling pi coins is really easy, but first you need to migrate to mainnet wallet before you can do that. I will leave the telegram contact of my personal pi merchant to trade with.
Tele-gram.
@Pi_vendor_247
how can i use my minded pi coins I need some funds.DOT TECH
If you are interested in selling your pi coins, i have a verified pi merchant, who buys pi coins and resell them to exchanges looking forward to hold till mainnet launch.
Because the core team has announced that pi network will not be doing any pre-sale. The only way exchanges like huobi, bitmart and hotbit can get pi is by buying from miners.
Now a merchant stands in between these exchanges and the miners. As a link to make transactions smooth. Because right now in the enclosed mainnet you can't sell pi coins your self. You need the help of a merchant,
i will leave the telegram contact of my personal pi merchant below. 👇 I and my friends has traded more than 3000pi coins with him successfully.
@Pi_vendor_247
what is the best method to sell pi coins in 2024DOT TECH
The best way to sell your pi coins safely is trading with an exchange..but since pi is not launched in any exchange, and second option is through a VERIFIED pi merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and pioneers and resell them to Investors looking forward to hold massive amounts before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade pi coins with.
@Pi_vendor_247
Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...Vighnesh Shashtri
In India, financial inclusion remains a critical challenge, with a significant portion of the population still unbanked. Non-Banking Financial Companies (NBFCs) have emerged as key players in bridging this gap by providing financial services to those often overlooked by traditional banking institutions. This article delves into how NBFCs are fostering financial inclusion and empowering the unbanked.
Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...
Webcast – SUT Transition Period June 24, 2015
1. @2015 Kevane Grant Thornton LLP. All rights reserved.
Tax Reform Process in Puerto Rico
Act 72 - 2015
Webcast – SUT Transition Period
June 24, 2015
María de los Angeles Rivera, Partner Head of Tax
and
Javier Oyola, Tax Manager
2. @2015 Kevane Grant Thornton LLP. All rights reserved.
Disclaimer
DISCLAIMER: These presentations and their content do not represent a consulting. Participants should not
act solely on the basis of this material and its content. Its usefulness is for information only and should not be
used as a specific consulting. In addition, you must obtain the consultation of an expert before acting or
taking a decision on any topic addressed in this presentation.
3. @2015 Kevane Grant Thornton LLP. All rights reserved.
Our Values… CLEARR
unite through global Collaboration
demonstrate Leadership in all we do
promote a consistent culture of Excellence
act with Agility
ensure deep Respect for people and
actively communicate
take Responsibility for our
actions and demonstrate integrity
4. @2015 Kevane Grant Thornton LLP. All rights reserved.
Agenda
• Summary of the tax reform process as of today:
– P. de la C. 2329 “Act to Transform the Tax
System of the Commonwealth of Puerto
Rico”
– Substitute P. de la C. 2329
– Act 72 – 2015 ( P. de la C. 2482)
• Changes to Sales and Use Tax
– P. del S. 1433
– Questions
5. @2015 Kevane Grant Thornton LLP. All rights reserved.
P. de la C. 2329
"Act to Transform the
Tax System of the
Commonwealth of
Puerto Rico"
Substitute
P. de la C. 2329 P. de la C. 2482
Changes Proposed to Puerto Rico's Tax System
Filed 2/11/2015 Filed 4/29/2015 Filed 5/18/2015
Public Hearings
Killed 4/30/2015
Signed
5/29/2015
Act 72 - 2015
P. del S. 1433
"Technical Amendments"
Filed 6/16/2015
7. @2015 Kevane Grant Thornton LLP. All rights reserved.
Sales and Use Tax
• Sales and Use tax
– as a transition method/period, the SUT
provisions of 2011 Code, as amended, will still
apply until March 31, 2016, but the applicable
tax rate will increase from a 6% to a 10.5%
(resulting in a combined state and municipal
SUT of 11.5%) effective on July 1, 2015.
8. @2015 Kevane Grant Thornton LLP. All rights reserved.
Sales and Use Tax (cont.)
• Sales and Use tax
– commencing on October 1, 2015, a new special
SUT rate of 4% will be imposed on (i) certain
services rendered to a merchant and (ii)
designated professional services.
– provides that the 1% municipal SUT will not
apply to services rendered to other merchants
or to designated professional services.
9. @2015 Kevane Grant Thornton LLP. All rights reserved.
Taxable Services
• The term "taxable services" means any service
rendered to any person, including:
– storage of tangible personal property, excluding
motor vehicles and every type of food
– leases, including those operating leases of
motor vehicles that constitute a daily lease
10. @2015 Kevane Grant Thornton LLP. All rights reserved.
Taxable Services (cont.)
• The term "taxable services" means any service
rendered to any person, including:
– computer programs
– installation of tangible personal property by the
seller or a third party
– repair of tangible personal property
11. @2015 Kevane Grant Thornton LLP. All rights reserved.
Taxable Services (cont.)
• Proposed Bill 1433 adds the following services to
the definition of taxable services:
– taxable services, as defined, provided by a
non- resident person to a person in PR
12. @2015 Kevane Grant Thornton LLP. All rights reserved.
Taxable Services (cont.)
• Sales and Use Tax
– the following services previously taxed by Act
40 of 2013 at 7% will now be subject to 11.50%:
• certain bank charges,
• collection services,
• security services, including armored services
and private investigations, except security
services provided to associations of
residents or condo-owners,
13. @2015 Kevane Grant Thornton LLP. All rights reserved.
Taxable Services (cont.)
• Sales and Use Tax
– the following services previously taxed by Act
40 of 2013 at 7% will now be subject to 11.50%:
• cleaning services, except cleaning services
provided to association of residents or
condominiums
• laundry services
14. @2015 Kevane Grant Thornton LLP. All rights reserved.
Taxable Services (cont.)
• Sales and Use Tax
– the following services previously taxed by Act 40
of 2013 at 7% will now be subject to 11.50%:
• non capitalized repair and maintenance
services of real and personal property, except
those services provided to associations of
residents or condominiums
• telecommunication services
15. @2015 Kevane Grant Thornton LLP. All rights reserved.
Taxable Services (cont.)
• Sales and Use Tax
– the following services previously taxed by Act 40
of 2013 at 7% will now be subject to 11.50%:
• waste collection services, except waste
collection services provided to association of
residents or condominiums
• operating leases of motor vehicles that
constitute a daily lease, except those leases of
motor vehicles that are essentially equivalent to
a purchase.
16. @2015 Kevane Grant Thornton LLP. All rights reserved.
Excluded Services for Sales and Use Tax
10/1/15 – 3/31/16
• services rendered to other merchants (special tax)
• designated professional services (special tax)
• services provided by the Government of Puerto
Rico
• educational services, including tuition costs;
• interest and other charges for the use of money
17. @2015 Kevane Grant Thornton LLP. All rights reserved.
Excluded Services for Sales and Use Tax
10/1/15 – 3/31/16 (cont.)
• insurance services and commissions
• health or hospital services
• services rendered by persons whose annual
volume of business is $50,000 or less,
18. @2015 Kevane Grant Thornton LLP. All rights reserved.
Excluded Services for Sales and Use Tax
10/1/15 – 3/31/16 (cont.)
• services rendered between members of a
controlled group.
– Proposed Bill 1433 eliminates the requirement
of both merchants to be located in PR, but
establishes that:
• both entities are subject to tax in PR or
• the services are subject to the special
disallowance for income tax or AMT purposes
19. @2015 Kevane Grant Thornton LLP. All rights reserved.
Excluded Services for Sales and Use Tax
10/1/15 – 3/31/16 (cont.)
Proposed Bill 1433 adds the following services to the
exclusion list:
• security services, cleaning services, and repair and
maintenance services provided to associations of
residents or condo-owners
20. @2015 Kevane Grant Thornton LLP. All rights reserved.
Excluded Services for Sales and Use Tax
10/1/15 – 3/31/16 (cont.)
Proposed Bill 1433 adds the following services to the
exclusion list:
• the sale of transmission time on radio and
television programs, including the rights, sale of
commercial time, including the commissions of the
advertising agencies as long as the commissions
are part of the invoice
• production services for radio and television
programs or commercials produced in Puerto Rico.
21. @2015 Kevane Grant Thornton LLP. All rights reserved.
Business to Business Services
subject to 4% effective October 1, 2015
Are services rendered to a person engaged in a
trade or business or in the production of income
except for:
– taxable services (Act 40 taxable B2B)
– services provided by the Government of Puerto
Rico
– educational services, including tuition costs;
– interest and other charges for the use of money
22. @2015 Kevane Grant Thornton LLP. All rights reserved.
Business to Business Services
subject to 4% effective October 1, 2015 (cont.)
Are services rendered to a person engaged in a
trade or business or in the production of income
except for:
– insurance services and commissions
– health or hospital services
– services rendered by persons whose annual
volume of business is $50,000 or less,
23. @2015 Kevane Grant Thornton LLP. All rights reserved.
Business to Business Services
subject to 4% effective October 1, 2015 (cont.)
Are services rendered to a person engaged in a
trade or business or in the production of income
except for:
– services rendered between members of a
controlled group. Bill 1433 establishes the same
requirements as mentioned before on slide 18.
24. @2015 Kevane Grant Thornton LLP. All rights reserved.
Business to Business Services
subject to 4% effective October 1, 2015 (cont.)
Proposed Bill 1433 adds the following services to
the exclusion list:
– designated professional services
– the sale of transmission time on radio and
television programs, including the rights, sale of
commercial time, including the commissions of
the advertising agencies as long as the
commissions are part of the invoice
25. @2015 Kevane Grant Thornton LLP. All rights reserved.
Business to Business Services
subject to 4% effective October 1, 2015 (cont.)
Proposed Bill 1433 adds the following services to
the exclusion list:
– production services for radio and television
programs or commercials produced in Puerto
Rico
– subcontracted services
– services provided by a non-resident to a person
in PR
26. @2015 Kevane Grant Thornton LLP. All rights reserved.
Designated Professional Services
subject to 4% effective October 1, 2015
• Agronomists
• Architects and landscape
architects
• Certified Public
Accountants
• Brokers, sellers and real
estate companies
• Professional
draftspersons
• Professional real
estate appraisers
• Geologists
• Engineers and
surveyors
• Legal Services
• Specialist of tax
returns (from 10/1/15)
27. @2015 Kevane Grant Thornton LLP. All rights reserved.
Designated Professional Services
subject to 4% effective October 1, 2015 (cont.)
Proposed Bill 1433 adds the following services to the
designated services list :
• Designated services, as defined, provided by a
non-resident person to a person in PR
28. @2015 Kevane Grant Thornton LLP. All rights reserved.
Designated Professional Services
subject to 4% effective October 1, 2015 (cont.)
Proposed Bill 1433 provides that the following designated
professional services will not be subject to the tax rate of
4%:
• services rendered by persons with an annual volume of
business that does not exceed $125,000
• legal services provided by members of the legal
profession authorized by the Supreme Court to exercise
the practice only with respect to fees for legal
representation in the General Court, Federal Court or
administrative agencies of the Government of PR, and
notary services.
29. @2015 Kevane Grant Thornton LLP. All rights reserved.
Designated Professional Services
subject to 4% effective October 1, 2015 (cont.)
Proposed Bill 1433 provides that the following designated
professional services will not be subject to the tax rate of 4%:
• services rendered by a person engaged in trade or
business to another person engaged in trade or business
and that forms part of a controlled group, provided that
both the provider and the recipient of the service are
subject to income tax in PR, or such services:
– are considered services provided to a related person
subject to limitations established by the Code; or
– are subject to the AMT.
30. @2015 Kevane Grant Thornton LLP. All rights reserved.
Accounting method for Merchants dedicated to
provide designated professional services
– allows merchants dedicated to provide
designated professional services to use the
cash method of accounting for purposes of the
SUT provisions for tax events occurred after
9/30/15.
31. @2015 Kevane Grant Thornton LLP. All rights reserved.
Person responsible for tax payment
– Effective October 1, 2015 in the case of
services (taxable services, services provided to
other merchants and designated professional
services) provided by a non-resident person to
a person in PR, the person responsible for the
payment of the SUT is the person that receives
the service in PR.
32. @2015 Kevane Grant Thornton LLP. All rights reserved.
Credit for taxes paid by a reseller merchant
– until June 30, 2015 the credit is 75%, except for
taxpayers engaged in the sale of unprepared
food and provisions which is 100%.
– for periods after June 30, 2015, the credit is
increased to 100% of the tax liability shown on
tax return.
33. @2015 Kevane Grant Thornton LLP. All rights reserved.
Merchants with gross sales of less than $1million for
the preceding taxable year
Sales and Use tax corresponding to the month of
July 2015 will be paid:
• 55% of the sales tax will be paid not later than
August 20, 2015
• 45% will be paid not later than the 20th day of
the months of September, October and
November.
34. @2015 Kevane Grant Thornton LLP. All rights reserved.
SUT rate applicable to preexisting contracts and
auctions
– retail sales covered by executed contracts or
approved bids at auction before July 1, 2015 will
be subject to the SUT applicable to such taxable
item at June 30, 2015.
– the person may acquire the taxable items
subject to such contract or auction during a
period of:
• 12 months
• contract term
35. @2015 Kevane Grant Thornton LLP. All rights reserved.
SUT rate applicable to preexisting contracts and
auctions (cont.)
– in the case of services (services provided to
other merchants and designated professional
services), the above will apply for those
services paid before 7/1/15.
36. @2015 Kevane Grant Thornton LLP. All rights reserved.
SUT rate applicable to preexisting contracts and
auctions (cont.)
Proposed Bill 1433 modifies the following:
– special rules for contracts for construction of
commercial, industrial or residential projects
started as of 5/31/15
• may register in a Works and Building Registry
at the PRTD
37. @2015 Kevane Grant Thornton LLP. All rights reserved.
SUT rate applicable to preexisting contracts and
auctions (cont.)
Proposed Bill 1433 modifies the following:
• rate and exclusions applicable are those in
effect as of 5/31/15 for purchases until
6/30/16. An extension of 12 months may be
obtained
• certificates and waivers
38. @2015 Kevane Grant Thornton LLP. All rights reserved.
SUT - Penalties
Number Description Section Penalties
1 Failure to register 6043.03(a) $10,000
2 Failure to display
Merchant's Registration
Certificate
6043.01(a) $1,000
3 Failure to notify
changes or amendment
to the required
information
6043.03(d) $500
39. @2015 Kevane Grant Thornton LLP. All rights reserved.
SUT - Penalties
Number Description Section Penalties
4 Displaying a falsified
Merchant's Registration
Certificate
6043.01(d) $5,000
5 Falsifying Merchant's
Registration Certificate
6043.03(e) $10,000
6 Improper advertisements 6043.01(b) $1,000 -
$20,000
40. @2015 Kevane Grant Thornton LLP. All rights reserved.
SUT – Penalties (cont.)
Number Description Section Penalties
7 Failure to display a notice at
the box office or other place
where the admission charge
is collected indicating that the
price of the admission and
the tax on the sale, shall be
computed and collected on
the basis of the price
admission charged
6043.01(c) $100
8 Failure to collect the SUT as
an Withholding Agent
6043.06(b)(1) $20,000
41. @2015 Kevane Grant Thornton LLP. All rights reserved.
SUT – Penalties (cont.)
Number Description Section Penalties
9 Wrongfully collecting the
sales and use tax
6043.06(a) $100 for each
receipt
10 Failure to display separately
the sales and use tax or for
not displaying notice
6043.01(c) $100 for each
violation
11 Selling, ceding or otherwise
transferring a Merchant's
Registration Certificate
6043.03(b) $5,000
12 Providing false information 6043.03(c) $5,000
42. @2015 Kevane Grant Thornton LLP. All rights reserved.
IVU Loto - Penalties
Number Description Article Penalties
1 Not issuing the IVU Loto
receipt
6043.01(c) $100 for each
violation
2 Refuse the installation or the
use of a fiscal terminal
6043.06(c) $20,000 for
each violation
3 Not using a fiscal terminal 6043.06(c) $20,000 for
each violation
4 Disconnecting or removing a
fiscal terminal
6043.06(c) $20,000 for
each violation
5 Obstruct the inspections or
audit of the fiscal terminal
6043.06(c) $20,000 for
each violation
43. @2015 Kevane Grant Thornton LLP. All rights reserved.
Other Matters
1. Filing of returns
2. Return of merchandise after 6/30/2015
3. Current bonds
4. Lay Away
5. Payables as of 6/30/2015
44. @2015 Kevane Grant Thornton LLP. All rights reserved.
Informative Bulletins
as of June 24, 2015
Informative Bulletins issued by the PRTD after the
approval of Act 72-2015:
– Informative Bulletin 15-09: Amendments to the
2011 Code pursuant to Act 72-2015.
45. @2015 Kevane Grant Thornton LLP. All rights reserved.
Informative Bulletins
as of June 24, 2015
Informative Bulletins issued by the PRTD after the
approval of Act 72-2015:
– Informative Bulletin 15-10: Upgrade of the
systems used by merchants for collection of
SUT from July 1, 2015 on
– Informative Bulletin 15-11: Bonded importers
should review their bonds to guarantee the SUT
payment from July 1, 2015 on
46. @2015 Kevane Grant Thornton LLP. All rights reserved.
Up to 6/30/15
General SUT = 6%*
Designated Serv. = exempt
B2B = exempt
07/01/15 - 9/30/15
General SUT = 10.5%*
Designated Serv. = exempt
B2B = exempt
10/1/15 – 3/31/16
General SUT = 10.5%*
Designated Serv. = 4%
B2B = 4%
4/1/16
General VAT = 10.5% or 0%
(credit)
Designated Serv. = 10.5%
(credit)
B2B = 10.5% (credit)
State Level
Municipal Level
Up to 6/30/15
General SUT = 1%
Designated Serv. = exempt
B2B = exempt
07/01/15 - 9/30/15
General SUT = 1%
Designated Serv. = exempt
B2B = exempt
10/1/15 – 3/31/16
General SUT = 1%
Designated Serv. = exempt
B2B = exempt
4/1/16
General SUT = 1%
Designated Serv. = exempt
B2B = exempt
* resellers get a credit and
applies to taxable B2B
Summary
48. @2015 Kevane Grant Thornton LLP. All rights reserved.
We offer various
tools to keep you
informed…
Our commitment
is to help you
"unlock your
potential for
growth."
Experience the
difference.