Some Comments on Tax Competition and Its Potential Effects on Tax Rates and Revenues

Corporate taxation is seen as the price of investing in a country, that is, the price either for the right to do business within the jurisdiction or for the supply of public goods. If consumption of that right or those public goods is mobile between jurisdictions and price competition ensues which will force prices together. Also, in the case of high tax regimes, a fall in the tax burden would be anticipated. In other words, countries will spontaneously harmonize their tax systems or face the loss of intemational investment and the disadvantages they bring.

ZTE Expects Sales Revenues from Enterprise Cloud Computing Products to Exceed $2 billion in 2011

On May 25, 2011, ZTE Corporation announced at the ZTE Analysts Conference that it hopes to venture into the IT industry by taking advantage of cloud computing.

Potential Fiscal Revenues From Hydrocarbon Extraction for the Tourism Region of the Canary Islands

Hydrocarbon exploration that recently took place in the Canary Islands has triggered a controversy over the compatibility between these activities and tourism. Such exploration was strongly rejected by the region, while being supported by the Spanish government. Many environmental and economic impacts of hydrocarbon extraction were explored, except the fiscal revenues, which represent the main benefit for the producing economies. In this paper, the author addresses this missing piece in the controversy, namely, the assessment of fiscal revenues from hydrocarbons for the Canary Islands. To evaluate these revenues, the author estimates an oilfield production profile, constructs oil and gas price scenarios, and considers the new Spanish tax on hydrocarbons. The estimates are also placed in the socio-economic context of the archipelago. The results show less than overwhelming annual fiscal revenues, below 0.7% of GDP, 10.4% of current public transfers to the region, and 5% of current public spending in 2015. These revenues could be welcome, as the region lags behind the rest of the nation in living standards. However, these benefits from exhaustible resources must be compared to the potential damage to the tourism sector, which has been a long-standing economic driving force for the archipelago.

Tax Reform, Fiscal Revenues, and Farmers＇ Income Evidence from Two Waves of Chinese Agricultural Tax

This paper examines the effect of Chinese agricultural tax reform on local fiscal revenues as well as farmers＇ income. Fixed effects results show that a tax rate reduction from 15.3 to 8.4 % in the first 5 years of the reform did not lead to a corresponding decrease in local fiscal revenues. At the same time, farmers＇ income slightly decreased. In the second 5 years of the reform, the tax rate was reduced to zero. This time, local fiscal revenues decreased linearly with the tax cuts, and farmers＇ income increased by 17.8 %. The link between the actual fiscal revenue reduction and farmers＇ income suggests that merely changing the nominal level of taxation does not necessarily increase farmers＇ income. Rather, the complete implementation of the reform relates crucially to curbing local governments＇ unauthorized extractions.

An integrated MINLP model for multi-party coordination in downstream oil supply chain

Cooperation among enterprises can bring overall and individual performance improvement,and a smooth coordination method is indispensable.However,due to the lack of customized coordination methods,cooperation in the downstream oil supply chain cannot be carried out smoothly.This paper intends to propose a multi-party coordination method to promote cooperation between oil shippers and pipeline operator by optimizing oil transportation,oil substitution and pipeline pricing schemes.An integrated game-theoretic modeling and analysis approach is developed to characterize the operation behaviors of all stakeholders in the downstream oil supply chain.The proposed mixed integer nonlinear programming model constrains supply and demand capacity,transportation routes,oil substitution rules and pipeline freight levels.Logarithm transformation and price discretization are introduced for model linear approximation.Simulation experiments are carried out in the oil distribution system in South China.The results show that compared to the business-as-usual scheme,the new scheme saves transportation cost by 3.48%,increases pipeline turnover by 5.7%,and reduces energy consumption and emissions by 7.66%and 6.77%.It is proved that the proposed method improves the revenue of the whole system,achieves fair revenue distribution,and also improves the energy and environmental benefits of the oil supply chain.

Revenue management method and critical techniques of railway passenger transport

Purpose–Revenue management(RM)is a significant technique to improve revenue with limited resources.With the macro environment of dramatically increasing transit capacity and rapid railway transport development in China,it is necessary to involve the theory of RM into the operation and decision of railway passenger transport.Design/methodology/approach–This paper proposes the theory and framework of generalized RM of railway passenger transport(RMRPT),and the thoughts and methods of the main techniques in RMRPT,involving demand forecasting,line planning,inventory control,pricing strategies and information systems,are all studied and elaborated.The involved methods and techniques provide a sequential process to help with the decision-making for each stage of RMRPT.The corresponding techniques are integrated into the information system to support practical businesses in railway passenger transport.Findings–The combination of the whole techniques devotes to railway benefit improvement and transit resource utilization and has been applied into the practical operation and organization of railway passenger transport.Originality/value–The development of RMRPT would provide theoretical and technical support for the improvement of service quality as well as railway benefits and efficiency.

New Pattern:the No.1 A-share Domestic Beauty Brand Changed Hands

On October 30,2023,A-share domestic beauty brands have all submitted their latest report card.Seen from this list of report cards,it is clear that the competition pattern of domestic beauty companies has changed:in the first 3 quarters of 2023,Proya successfully topped the A-share domestic beauty brands list with a revenue of 5.249 billion yuan,surpassing Shanghai Jahwa.At the start of the“Double 11”battle,Proya also led the way as the No.1 in Tmall beauty category in the pre-sale stage.It can be predicted that Proya will no doubt become the first in A-share domestic beauty brands in terms of revenue in 2023.

The Filing of the First New Material of Pien Tze Huang Completed

According to the Cosmetics Material Filing Information Platform of National Medical Products Administration,the filing of“ANOECTOCHILUS ROXBURGHII EXTRACT”of Fujian Pien Tze Huang Cosmetics Co.,Ltd has been completed.According to public data,Fujian Pien Tze Huang Cosmetics Co.,Ltd.,(hereafter referred to as“Pien Tze Huang”)was founded in March 2002,with more than 90%of the investment from Zhangzhou Pien Tze Huang Pharmaceutical LLC(hereafter referred to as“Pien Tze Huang LLC”).In the 2023 fiscal year,the cosmetics operating revenue of Pien Tze Huang LLC was 0.707 billion yuan,with a year-on-year increase of 11.42%;the gross margin was 62.18%,with 1.58 percentage points less than the same period of 2022.

"New Quality Productive Forces to Bring Greater Opportunities for Us"——Interview with Jakob Stausholm,CEO of Rio Tinto

"China is hugely important for Rio Tinto as this is the place where we have our biggest customers,our biggest shareholders,and almost 60%of our revenue stems from sales in China."Rio Tinto,the world's largest iron ore producer,has had more tieups and joint ventures with Chinese partners than anyone else.When interviewed by China's Foreign Trade.

Ten Changes in the Cosmetics Industry in 2023

New life was accompanied by death,consumption upgrading was accompanied by consumption downgrading,triumphant advancement was accompanied by steady retreatin.In 2023,magic realist dramas were played in China’s cosmetics industry one after another.That year,the domestic brands set off a prologue of counterattacking foreign brands with“Proya winning the first place in Tmall’s Double Eleven promotion for 2023”as a landmark event.That year,South Korean cosmetics,Japanese cosmetics and major European and American brands“became depressed”collectively,and the acutely turbulent list could hardly conceal the injury of“being defeated”and“being unsalable”.That year,Proya and Botanee achieved a rapid growth,and the first domestic cosmetics group with the annual operating revenue exceeding 8.0 billion yuan was coming into being.

The Operating Revenue of Jinbo Bio-Pharmaceutical for 2023 Reaching 0.78 Billion yuan

In Mar.20th,2024,Jinbo Bio-Pharmaceutical released the first performance report since it was listed at Beijing Stock Exchange,with many data hitting a record high.The company realized an operating revenue of 0.78 billion yuan,with a year-on-year increase of 99.96%,and hitting a new high for the past five years.The net profit attributable to shareholders was 0.3 billion yuan,with a year-on-year increase of 174.6%.The net profit attributable to shareholders after deducting non recurring gains and losses was 0.286 billion yuan,with a year-on-year increase of 181.02%.

MEDIA WATCH

PARTICIPATORY PROGRESS Sanlian Lifeweek 8 July Over the past 40 years of reform and opening up,foreign-invested firms,which account for less than 3 percent of enterprises in China,have contributed one-tenth of urban employment,one-fifth of tax revenue,onefourth of industrial output,and nearly a half of total imports and exports.

Briefs

LATEST NEWS FROM THE WORLD OF BUSINESS Expanding Express Delivery China’s express delivery sector registered rapid expansion in both business volume and revenue in May,amid a steady recovery of the Chinese economy and faster consumption growth in particular,data from the State Post Bureau showed on 17 June.

Events Calendar

Ethiopia-Djibouti Railway Reports Surge in Revenue.The Chinese-built Ethiopia-Djibouti railway has transported 680,000 passengers and 9.5 million tonnes of cargo,with its annual transportation revenue increasing 39 percent on average over the past six years.The railway’s Chinese management consortium on 17 May disclosed that the 752-km Ethiopia-Djibouti railway has seen the operation of 2,500 passenger trains with a passenger volume of 680,000 since it started commercial operations in January 2018.Data from the railway’s management team also show that the railway has operated 7,700 freighttrains with cargo volume of 9.5 million tonnes,and achieved the total commercial transport revenue of 11.3 billion Ethiopian birr(about$197 million)during the same period.

Consumption Boom

Spring Festival holiday brings tourists,and the related revenues,back to the destinations.The 474 million trips–raking in 632.69 billion yuan in tourism-related revenue–during the eight-day Spring Festival holiday indisputably signify both the vitality of China’s economy and the huge potential of the country’s domestic consumption.The figures respectively represent a 19 percent increase and a 7.7 percent growth over those for the same holiday period,prior to the COVID-19 pandemic,in 2019,according to data released by the country’s Ministry of Culture and Tourism on 18 February.

Robust Recovery

China’s tourism economy turns the tables amid strong economic and political leadership.China’s tourism figures have surged by nearly 50 percent during the Chinese Spring Festival holiday.This indicates that the COVID-19 smoke has finally cleared,and that the world’s second-biggest economy is on its way to full recovery.According to the statistics released by Chinese tourism authorities on February 18,the country’s tourism revenues increased by 47.3 percent and surpassed pre-pandemic level of 2019.At the height of COVID-19 in 2020,China’s domestic and inbound tourism revenue dropped by as much as 87.1 percent.

Race for Revenues

Organizers successfully staged the 2009 Race of Champions at the Bird’s Nest, but the stadium’s future remains

Empirical Analysis of Tourism Revenues in Sanya

Tourism industry has become a pillar industry,which is used to measure the general economic development of Sanya.According to the latest data related with Sanya tourism(2008–2019),a linear regression model is established in this paper.With statistical method,it takes the annual tourism revenue of Sanya as the explanatory variable and the number of domestic tourists received by Sanya as the explanatory variable.Based on the model,the results of econometric analysis on the factors influencing Sanya tourism revenue show that the number of domestic tourists is the main influence factors of tourism revenue in Sanya.

QUOTES

“The number of major SMEs surged 10.5%in 2022.The combined operating revenue and profits of these companies during the period rose 5.2%and 1.1%,respectively,year-on-year.”--Xu Xiaolan,Vice-minister of Industry and Information Technology.