Word: exemption
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...million a year on top of the $240 million already raised by the congestion charge scheme, a chunk of which is reinvested in public transportation. Low-polluting vehicles such as the VW Polo Bluemotion or the Toyota Prius - coincidentally, the mayor's car of choice - will be exempt from paying any congestion charge...
...Hedge funds practice such risky behavior because there are effectively no consequences for them. If hedge funds have fewer than 100 investors, or investors worth at least $5 million each, they are exempt from the Securities Exchange Commission Act of 1934 and the Investment Company Act of 1940. By avoiding this legislation, hedge funds do not have reporting obligations or leverage limitations...
...black fabrics of every design in July 1863—which was, Faust devilishly adds, “just in time for Gettysburg.” It takes great talent to make a reader laugh while writing about the Civil War. No one, even the fashionable lady mourner, is exempt from Faust’s wit. Everyone’s story—whether they’re a private or a general, a slave or a Harvard scholar—is fair game. Faust tells us about Walt Whitman’s attempts to nurse wounded soldiers, Clara Barton?...
...Europeans who want to work in one country while they live, and save, in another. So execs and entrepreneurs can do business in London while settling in Monaco, the city-state famous for sunshine, glamour and zero tax on income or investment gains. Belgium, where some assets are exempt from capital-gains tax, is peppered with wealthy French escaping a tax rate that can top 40%. And Luxembourg, the euro zone's biggest private-banking center, attracts wealthy foreigners by exempting their investments from...
...others say that's not enough. A growing number of critics are crying foul over the tax-exempt status of London's wealthy expatriates. "As a foreigner in this country you can make an enormous amount of money, but the numbers who put anything back into this country are trivial," says economist Will Hutton, CEO of consultancy the Work Foundation. There are a handful of foreigners at the top of the Sunday Times Giving List, a record of charitable donations by the rich and powerful, but Hutton wants to see more. "I would like to see people endowing universities, backing...