Sentences with phrase «tax revenues»

But, as seen in the Figure above, because income taxes have been cut, the province's reliance on income tax revenues have dropped by one third over the last decade, so much so that income taxes now raise about the same amount as sales taxes.

Even though federal corporate tax rates have fallen by more than half over the past 30 years, corporate income tax revenues have continued to fluctuate around two per cent of GDP.

It won't matter if the economy performs well enough in the next few years to make up the difference through higher income tax revenues, he indicated.

Within budgetary revenues, the year - over-year changes to date for all major components were higher, with the exception of Goods and Service Tax revenues, which declined by 2 %.

Additionally, minority - owned businesses contribute close to $ 49 billion in local, state and federal tax revenues.

This may explain the year - over-year decline in corporate income tax revenues in December 2012, as corporations with a taxation year ending on October 31st filed their final payments.

Budgetary revenues were up by $ 9.8 billion, primarily due to higher personal and corporate income tax revenues, while program expenses were down by $ 4 billion, due to lower «other transfer payments» and employment insurance benefits, partially offset by higher transfers to provinces and elderly benefits.

Of the $ 3.2 billion year - over-year improvement, budgetary revenues were up by $ 3.9 billion, primarily due to higher personal income tax revenues (up $ 3.4 billion, reflecting increases in employment and average wages) and employment insurance premiums (up $ 1.6 billion reflecting higher premium rates and an increase in maximum insurable earnings).

These adjustments were larger than in 2011 - 12, thereby dampening personal imcome tax revenues.

Corporate income tax revenues were higher than expectedin 2012 - 13 and are expected to continue to be higher than originally projected in their April 2013 Economic and Fiscal Outlook The lower EI benefits «are driven by a lower expected number of regular beneficiaries to unemployed persons», or in layman's terms, fewer people are claiming benefits than those claiming to be unemployed.

PBO is forecasting an exceptionally strong increase in personal income tax revenues in 2011 - 12, which does not appear to be consistent with its projected growth in employment.

Japan... The Country With Debt / GDP > 200 % And An Aging / Shrinking Population = Decreased Fiscal Cash Flow [due to increased healthcare / pension costs + decreasing tax revenues] Will Be The First Domino To Fall.

All of the higher - than - expected budgetary revenues were due to corporate income tax revenues (up $ 2.0 billion).

And companies can't take on more debt, nor can states and cities because they're being badly squeezed by falling tax revenues and rising pension plan shortfalls.

The higher revenues primarily reflect higher employment insurance premium revenues in the short term and increased personal income tax revenues in the last two years of the forecast period.

Given the remittance requirements, up to one - third of corporate income tax revenues are received in the months of February and March, such that the current monthly results may not be that reflective of the final results for the year as a whole.

Corporate income tax revenues were down $ 0.4 billion, due to the reduction in the general corporate income tax rate, largely offset by a decrease in refunds, while «other revenues» declined by $ 1.4 billion.

PBO is forecasting much stronger growth in personal income and therefore higher personal income tax revenues offset to some extent by slower growth in corporate profits and thereafter lower corporate income tax revenues.

As noted above, current monthly corporate income tax revenues are not reflective of final revenues for the year as a whole.

The accrual adjustments to date for personal and corporate income tax revenues, could be understated, which will result in significant downward adjustments over the balance of the year, especially in the end - of - year accounting period.

Based on the results to date, budgetary revenues appear to be somewhat weaker than forecast in Budget 2013, primarily reflecting a decline in personal income tax revenues in March 2013 compared to March 2012.

The higher - than - expected deficit forecast in 2014 - 15 and lower - than - forecast surpluses thereafter primarily result from lower personal income taxes and EI premium revenues and higher public debt charges, offset somewhat by higher - than - forecast corporate income tax revenues and lower EI benefits.

The components of nominal GDP represent the applicable tax bases for personal and corporate income tax revenues, which represent about 60 % of total federal revenues.

The accrual adjustments to date, especially for personal and corporate income tax revenues, are understated, which will result in significant downward adjustments over the balance of the year, especially in the end - of - year accounting period.

Given the remittance requirements, about forty per cent of corporate income tax revenues are received in the months of December, February and March, such that the current monthly results may not be reflective of the final results for the year as a whole.

If markets believe that the threat of a deflationary spiral is mitigated by a recovery in demand, profits and tax revenues, many risk premia will compress.

These profound changes send the message that there is no longer any tangible recognition of the risk B.C.'s women and men take when they walk away from secure jobs and pensions, to invest their savings into starting their own small business; businesses that create new tax revenues by providing employment, paying suppliers, and collecting GST and income taxes.

However, based on the results to date, corporate income tax revenues are expected to come in higher than forecast in the November 2011 Update.

Still to come are the end - of - year accrual adjustments, including the final estimates for tax revenues and valuations adjustments for assets and liabilities.

There are three possibilities: reallocations from other spending programs or tax revenues; raising taxes; or introducing new innovative financing mechanisms.

Although the forecast for budgetary revenues appears to be on track, with higher - than - expected personal income tax revenues more than offsetting lower - than - expected Goods and Service Tax revenues, the Budget 2012 estimate for other transfer payments appears to be significantly overstated.

Of the year - over-year improvement, budgetary revenues were up by $ 11.4 billion, primarily due to higher personal and corporate income tax revenues, while program expenses were up by $ 0.4 billion, as lower other transfer payments and employment insurance benefits were more than offset by higher transfers to provinces / territories, elderly benefits and other direct program expenses.

Companies won't invest, stores will close, «for rent» signs will spread on the main streets and local tax revenues will fall.

By comparison, the Department of Finance (see Table 3.5), the opposition parties, and even the Canadian Manufacturers and Exporters estimate that this cut will reduce annual corporate tax revenues by $ 6 billion.

Fiscal options have, indeed, been closed off, irresponsibly if you ask me, but that doesn't mean it can't get worse in a recession as tax revenues fall off, which they will.

The $ 330 - billion spending plan says while several economic indicators such as employment numbers and tax revenues are up, and this year's deficit will likely be lower than expected — there are risks ahead: oil prices are expected to remain low; Canadian exports may remain flat; and «possible U.S. policy actions affecting trade could restrain exports to the U.S. even further,» the budget says.

But conservatives are claiming that a lower corporate tax rate caused the (slight) increase in corporate tax revenues in 2009 - 10.

The effect of a cash transfer from the Fed to the household sector is almost identical to receiving a tax rebate check, with the added benefit that it causes the budget deficit to fall, not rise (Tax revenues will rise and there has been no increase in government borrowing).

In successfully seeking the 1980 Republican nomination for President, Ronald Reagan embraced the Laffer Curve theory that tax cuts would increase tax revenues.

Monthly data on corporate income tax revenues are not a good indicator of the potential outcome for the year as a whole, until there is at least nine months of data.

According to Green, however, the debt problems at the local level could probably be mitigated if it is transferred to the central government balance sheet given the country's strong growth rate and rising tax revenues.

However, monthly data on corporate income tax revenues for at least the first nine months of the fiscal year may not be a good indicator of the potential outcome for the year as a whole.

How can the government justify such a re-distribution of tax revenues to high - income earners?

The increase in corporate income tax revenues largely reflecting strong gains in the tax settlement period for those large corporations with a taxation year ending December 31st.

With respect to personal income tax revenues, this primarily reflected timing factors, as January 2018 collections were lower than in January 2017.

Within budgetary revenues, personal income tax revenues were up $ 7.7 billion (6.1 %), slightly above the growth rate forecast in the 2018 Budget for the year as a whole.

In contrast, corporate income tax revenues (up $ 0.5 billion or 7.1 %) and sales and excise taxes (up $ 1.2 billion or 14.9 %) were well above their Budget forecasts of 2.6 % and 2.2 %, respectively.

Based on the results to date, corporate income tax revenues for the year could be higher than the November 2011 Update estimate.

This is a substantial amount of «general tax revenues» that will go to a small group of high - income taxpayers.

Personal income tax revenues were up $ 0.8 billion (3.3 %), well below the 2017 Budget forecast of 5.8 % for the year as a whole.