Word: taxed
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Friday’s report recognized that economic instability over the last few years has heightened pressures on municipal and Massachusetts budgets. But “despite its tax-exempt status, Harvard helps in several ways to bolster state and local government finances,” the report said...
...death, the Palestinian leader had squandered much of the fortune he had built in the name of his people. Before the 1991 Gulf War, Arafat received millions from gulf states, including at least $50 million a year from Saudi Arabia. Palestinians working in the gulf had to pay tax to the P.L.O. He spent the cash on stipends and services for the 4 million Palestinian refugees, but most of it went to finance "military operations" and buy the support of cronies. The money started to dry up in 1991, when Arafat backed Saddam Hussein in the Gulf War and lost...
...Oslo peace process provided a brief windfall for the Palestinians, bringing Arafat $4 billion in donations from the U.S., the European Union, Japan and sales tax gathered by Israel that was passed on to him. But much of that was wasted or skimmed by corrupt Arafat associates. When a Palestinian Authority audit exposed the corruption in 1997, Arafat ordered future audits to be kept secret...
...year ago, Mikhail Khodorkovsky, a billionaire who had built Yukos into an energy powerhouse, was arrested and put on trial for alleged fraud and tax evasion, charges he says were trumped up. Since then Yukos has been hit with a $17 billion bill for back taxes, and the government is threatening to auction off the company's most valuable asset to pay them. Most Yukos accounts have been frozen, making it hard to pay suppliers and staff. But the company has called a shareholder vote for December to decide whether to file for bankruptcy protection; a principal reason it hasn...
...Kremlin oversight of oil and gas production. After a period of privatization and deregulation in the 1990s, oil-industry specialists say, the pendulum has swung the other way. That doesn't mean the central government wants to nationalize all energy assets, but it has put an end to generous tax breaks and has introduced other limitations on the private sector, particularly foreign companies. Under the terms of the Conoco deal, for example, the American company can raise its stake in Lukoil--but only to a ceiling of 20%. That's less than the 25% it needs to be able...