Word: taxed
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...Khanijoh, senior analyst at Kasikorn Securities in Bangkok. That sentiment was stoked by Thaksin's controversial $1.9 billion sale last year of his family stake in telecom firm Shin Corp. to Singapore's Temasek Holdings-a deal perceived domestically as delivering a key national industry into foreign hands. The tax-free sale came courtesy of the loopholes in the country's Foreign Business Act that the junta government is now eliminating. The changes aim to stop foreign investors using local nominees to put their firms in a Thai name without giving them commensurate decision-making power. "It's clear these...
...here is the paradox of decoupling. On the one hand, Islamist terrorism has imposed a huge transaction tax on the global economy; just try to put a price tag on millions of hours wasted by passengers waiting at security, on container and cargo controls, on cumbersome border checks, on the expansion of police and intelligence personnel - not to speak of the nonmonetary costs of civil liberties curtailed. On the other hand, globalization just gallops along. "We told you so," hard-core practitioners of the dismal science might crow. "Economics beats politics any time." The mighty dynamics of expansion seem...
James Bond has saved the day again. But this time he needed help from a boy wizard - and the tax code. After a slump that had the muggles using words like crisis and disaster, Britain's film industry is back and (almost) better than ever. Films like Casino Royale and Harry Potter and the Order of the Phoenix have made 2006 the second-best year on record for the industry. According to figures released Jan. 15 by the UK Film Council, $1.65 billion was spent on making 134 films wholly or partly in Britain last year - 48% more than...
...British government closed a loophole that had given foreign investors generous tax breaks, but which could also be used fraudulently. Then it tightened restrictions on coproductions. Suddenly, around 40 films saw chunks of their budgets disappear. Some productions were delayed; others collapsed...
...government responded by introducing subsidies in 2005 and then drafting a new set of tax credits to kick in this year. With relief in sight, the movie money started rolling back in. "What's surprising is the speed at which the industry's bounced back," says John Woodward, the Film Council's CEO. "But if you can build confidence and persuade the financing community that, going forward, things are going to be stable, you're in a good position." Hollywood already adores Brits: Helen Mirren and Sacha Baron Cohen picked up top awards at Monday's Golden Globes, while...