Word: taxed
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...University financial officials told the Faculty Council on Wednesday that the central administration will continue to tax all of Harvard’s schools to fund development of the University’s new campus in Allston—a reversal of a previous promise that this assessment would last no more than five years...
...tax most hurts the Faculty of Arts and Sciences (FAS), since the school has by far the largest endowment payout. When it was first established, it was projected that FAS would foot 40 percent of the total bill...
Therefore, since the tax on endowment is flat, FAS will be forced to put up significantly more cash to clean chemical spills and construct buildings in Allston than will Harvard’s other schools...
...Justice Department is now pressing criminal charges against Greenpeace for authorizing the protest. If found guilty, the group could lose its tax-exempt status...
...Parliament passed a new fiscal-responsibility act that directs the government to trim its expenditure each year so that by 2008 it will spend no more than it receives in revenues. "We're moving in the right direction," he says. Singh is also moving to fix the country's tax system, which suffers from loopholes and evasion. This year, the government plans to introduce a single, uniform value-added tax to replace India's jumble of state and local sales taxes; economists expect the new tax regime will widen the government's revenue base and make life easier for India...