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Accuracy is very important in the preparation of income tax returns. An error may result into a tax audit which will lead to significant professional fees. If the accountant offers Audit Shield, grab it because it for your own protection. Even giant tech companies are not spared from tax audits initiated by governments.
In an article printed opposite the editorial page of a German newspaper, Olaf Scholz, German minister of finance explains his proposal of a global minimum rate of corporate tax to ensure that multinational companies like Apple will pay domestic taxes according to the profits earned.
The European Union has long been attempting to require tech giants to refrain from using overly complicated accounting tricks to shuffle profits and minimize the taxes they pay to each government. Scholz’s Welt am Sonntag article is part of the larger effort to harmonize tax rates across the European Union. EU has member countries that have lower taxation levels like Ireland.
In the article, Scholz said that a worldwide minimum tax level is important with no state going below it. He particularly noted the exacerbation of internet economy which is a problem resulting from globalization. What the EU is trying to address is the placement of profits in low-tax locations.
This is not actually the first effort to introduce reforms in taxation so that companies can be stopped from shifting around their profits to avoid paying tax. Last August 2016, Apple received a tax bill amounting to 13 billion Euros ($15.5 billion) from the EU. It was claimed that Apple took advantage of illegal state aid which allowed the company to route its profits to Ireland. Apple paid the amount in full but it will be held in escrow while matters are being settled in court. Apple executives insist that they are paying every cent of all global requirements.
Accountants were happy when Audit Shield was introduced because they have insurance to offer their clients. Tax audit insurance is a protection against the significant professional fees that can be incurred by the client when the tax returns are audited. The audit process can be time consuming and expensive depending on the complexity of the tax issue.
Posted in Business
Three weeks ago, Tim Cook, the CEO of Apple, told an audience in Brussels that tech companies have carefully assembled, synthesized, traded, sold and “weaponized” their user’s data to enrich companies that collect them. This zero-price model that is being used by businesses is actually the source of the many issues that are now plaguing the internet.
It is not a coincidence that Google, Facebook and Twitter are generating more than 80% of their revenues from advertising. These sites are frequently accused of the propagation of toxic content and compromise of privacy. On the other hand, Microsoft and Apple generate their revenues from selling software, hardware service but fly under the radar.
The zero-price business model comes in many forms online. For example, Wikipedia is considered as labor of love. Other companies offer a free entry-level product but they will eventually sell it for a premium later on. Free is essential to the profit model of search and social media. In order to generate ads, they have to maximize on users and engagement that result to the lowest possible barriers to their platform. They have to learn as much as possible about their users to create targeted ads.
However, free is not essentially free because users have to pay for attention and data. Users are exposed to lots of useless and sometimes harmful content. Senders and recipients of emails do not pay for postage but they have to spent time in deleting unwanted or spam messages.
In the online world where communication is cheap and free, there are many instances when bad communication beats good communication. For example, fake and paid reviews intermingle with free product advice provided by businesses on their web sites. Fake and manipulative news usually contaminates free news feeds.
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The world’s temperature continues to rise and many are turning to their air conditioning system for relief. When more air conditioning systems are turned on, it causes the world’s temperature to hike up even more. This cycle goes on and on with no solution in sight. Not until the introduction of solar powered systems for residential use. Many of the locals are talking to companies supplying Gold Coast solar panel to know more about the benefits of using solar panels and how they can ease up the negative effect they are contributing to the environment.
Now a new technology was developed by scientists from China as well as the United States to address these issues. The technology is a form of solar panel innovation that has the capacity to collect the light that is coming from the sun which will then be converted to electricity. This is the same function performed by conventional solar panels but this new innovation has additional features – it can send back to space the excess heat of the sun which prevents the house from absorbing it.
According to Shanhui Fan, the senior author of the latest research who also happens to be an electrical engineer, they are proud to be able to create a device that will one day help in saving as well as creating energy. This is made possible by the device’s capacity to control the two aspects of light.
The principle used in the device is referred to as radiative cooling wherein the any object, such as structures and even human body, can give out heat through infrared light. During this process the object losses its heat because of thermal radiation. This might be the perfect solution to the Earth’s heating problem but sadly it is not a perfect system because the reflected heat is not guaranteed to pass to space 100 per cent which means that it stays suspended in the atmosphere.
While there are traditional options such as Gold Coast solar panel, this new innovation is not your everyday technology because if merged the conventional solar panel with radiative cooling device.
Posted in Business
An electric fence energiser is an electric device that handles the electrical pulse operated by a battery or electric power in the fence. You can use it to set the boundaries of your property and those found in it. The energiser will utilise a capacitor to store the charge and release it to the fence line or live wire. This then can ground an object or animal when they touch the electrical fence.
The pulse is sent to the live wire of the fence, which can vary on various brands and models of the energisers. The energiser can be battery or solar-powered. If it’s a battery-operated energiser, it will send a pulse time further apart to ensure the battery power is saved. There are several energisers that have buttons to allow the owners to time the pulse either fast, medium or low.
Knowing the Best Ways to Power the Electric Fence Energiser?
Depending on where you live, you must know that the electric fence energiser can be operated through batteries, solar or electric power. If you choose batteries, ensure that it’sfully charged to run more weeks of pulses.
How energisers are operatedis to utilise batteries attached to solar panels or a power source connected to electrical wiring. You will need to choose a power source that works best for your needs. If you choose batteries or solar-powered energisers, you cut downs costly expenses for power bills. After all, you only need sunlight to run it and make it fully charged.
You also ensure that the electric fence will run smoothly even in the middle midst of severe weather conditions. In times of power shortages, you have the battery or solar energiser running with reliability to ensure the safety of your property and everything around it. Just ensure you provide proper maintenance to your energiser, to make it last long.
If you choose electric fence energisers that are solar-powered, you ensure the fence is protected, especially when electricity is out. It can last many days if the batteries are fully loaded. Here, you save money from the installation rather than what mains-powered energisers can provide.
Posted in Business
One of the decisions that people have to make when building a home is the security feature. Is it enough to install security window screens and security doors to keep the burglar away or does the home need wired sensors connected to a home security system? In smart homes, security cameras can be controlled through voice commands.
Cable giant Comcast may soon be the commander of the smart home, not Amazon or Google. Comcast is currently testing a program, which would allow broadband-only customers to use their televisions as smart home hubs. The program will use Comcast’s existing hardware and software to power its X1 video service that will allow the TV in internet-only households to control security cameras integrated with voice command and connected light bulbs.
Amazon and Google have dominated the battle as the systems to be used when consolidating and controlling smart home devices like thermostats and connected locks. Google and Amazon have invested heavily to ensure that their systems will be the standard go-to device once smart homes become the norm.
According to a person in the know, Comcast’s test program streams internet videos through apps like Netflix, YouTube and Amazon but the cable giant is not competing with Roku, Apple TV or Amazon Fire TV. Comcast is developing a product for broadband-only customers that will allow them to aggregate streaming apps like Netflix and YouTube through voice remote.
Comcast has already built a platform that will support smart home devices like connected door locks, thermostats and lights with support through the TV. X1 system has already integrated video streaming services and it has a remote that will respond to voice commands. Google and Amazon have emerged as the leaders in the smart speaker market with Amazon Echo holding 70% of the market and Google Home with 25%.
A security option for the home that does not require software is security window screens that do not include any intrusive bars or grills. An uninterrupted view can still be enjoyed through the windows because there are no objects that will block the environment. The window screens have superior strength to deter unwanted intruders.
Posted in Business
Tencentis known in China as a technology giant developing video games. It might not be easy to find cheap CD keys of the games they have developed if there is actually one. In a recent announcement, the company said that they are going to employ facial recognition in order to monitor their players and put a name to their faces while they are playing Honor of Kings which is a video game released in the country.
The game is locally called WangzheRongyao but in the western part of the world it is called either Arena of Valor or Kings of Glory. The online game features battle scenario and can be played multiplayer. As of writing, it is one of the well-played games in China and its grossing is also record-breaking in the online industry.
Barely two months ago, Tencent said that around 1,000 video games who are in the Honor of Kings database are to be chosen in random. Their faces are going to be recorded before matching to the ID photos they have in the citizen database of China. This decision is part of the measure being implemented by the company to make sure that real names are used when logging in to the game in order to avoid children who are below 12 years old from playing in excess of one hour daily starting 8 in the morning until 9 in the evening. Minors who are 12 years and above, can play a maximum of two hours every day.
An additional feature is the blurring of the screen in case the player’s face is positioned too close to the monitor or the television screen. These are all put in place after the government of China criticized the gaming industry especially the game Honor of Kings. Xi Jinping who is the president of China, made an announcement about the bad side effects of playing too much video games. It is now easier to download video games and there are cheap CD keys available which is convenient even for minors to be able to play games regardless of where they are.
Posted in Business
The challenge is still on for the ceramic tile industry of Pakistan because of the continued increase in energy proves, the Import Trade Price or ITP is extremely low for imported tiles coming from China and other countries, the tax rates are higher than before and the amount of smuggle tiles coming from Iran has also spiked. It is safe to say that the local manufacturers of interior stone tiles are not happy about these developments.
International producers of ceramic and porcelain tiles are benefiting from the very low values of Import Trade Price and the fact that the country is not strict when it comes to smuggling regulations. Because of these, foreign manufacturers supply more than 40 per cent of the tile market which is equivalent to almost 80 million square meters. Domestic producers, on the other hand, are suffering because the production costs in the country are higher and the competition is not fair considering that the imported tile products are much cheaper.
Nearly 60 per cent of the tile market is located near or around Punjab. The remaining tile sales are coming from Khyber Pakhtunkhwa and Sindh. More the28 per cent of the market is already covered by imported tile manufacturers coming from China. Producers from European nations and other foreign countries only cover a very small fraction of the entire market which is estimated to be lower than one per cent.
Over 13 per cent of the market, however, is getting their supply from Iran which smuggles ceramic tiles into Pakistan. The remaining market is covered by local manufacturers including Forte, Master, Swat, Karam and Sonex. These companies have 50,000 employers and between 80 and 85 per cent of them are unskilled.
The industry is now calling to the government to help the manufacturers of interior stone tiles by decreasing energy costs and preventing foreign products from importing their products whether legally or illegally into Pakistan. Experts believed that the industry, if well supported and regulated, can grow significantly which will result to more employment opportunities for the locals as well as contribute to the country’s export and GDP.
Posted in Business
As the main commercial and economic centre of Vietnam, Saigon throbs with excitement and energy. With over nine million people and nearly six million motorbikes running on the busy city streets all day and night, the city fascinates the chaos with a luxury hotel in Saigon, some restaurants and cafes, and shopping centres. Definitely, there is something a visitor can recognise when spending a luxurious and worthwhile vacation to the busy metropolis.
From high-end shopping to rooftop dining, there’s certainly an exceptional luxury experience in Saigon:
If you’re out for a genuine Chinese ambiance in Vietnam, why not be at the Binh Tay Market or the city’s Chinatown, where almost all locals go to shop. Or you can head to the Ho Chi Minh City Centre or Diamond Plaza for high-end shopping. You can also go to the Le Cong Kieu Street where you can shop famous antiques that an eager shopper will enjoy.
If you want to enjoy an incredible view of the city, go up the tallest Bitexco Financial Tower. You can proceed to the EON 51 Heli Bar if you love to enjoy the cocktails aside from the spectacular views. You can enjoy the sparkling wine with Tanqueray gin, lime juice and mint, or the Le Loi Johnny Walker whisky with soaked sugar cube and a dash of soda. Enjoy it while the music is at its loud side. There’s also the La Villa French Restaurant to go to if you like fine dining.
The building was designed by Gustave Eiffel, which showcases the grand exterior of the French architectural design. When you enter this tourist attraction, you’ll be surprised that it’s a completely functional Post Office. On its walls are historical map murals of south Vietnam, Cholan and Saigon. A large mosaic of the late leader meets every people coming in and out of the building.
At the city centre is the Notre Dame Cathedral with the statue of the peaceful St. Mary holding the globe. Constructed in the mid-1800s, the building showcases the classical French architecture. It’s located in a colourful corner of downtown and many tourists never miss a visit here. After a hectic tour and adventure, they return to the luxury hotel in Saigon to relax and soothe themselves.
Posted in Business
Technology is shaking up the financial advice sector because there are just too many options available right now and more are being launched. It is even surprising to know that there is a financial advice website that people can go to when they need help which eliminates the need to contact an advisor in the flesh. The change might be for good but it could be too much for some.
The big question now is whether the role of a financial advisor remains the same considering that there is now technology that can be accessed in every turn such as in buying and selling investment.
According to Toronto-based Coleman Wealth, Raymond James Ltd’s portfolio manager as well as senior vice president, Darren Coleman, the tools are definitely not the same as before. He added that the benefits will be for both parties – the financial advisor and the clients but there is nothing escaping the fact that some things can be confusing too. With the amount of technological tools available, it is like choosing one from 5,000 different flavours of ice cream.
Aside from the technology, the expectations of the investors have also changed with regards to how they are going to interact with their financial advisors. Creating and managing a portfolio is not as challenging as before with the help of smartphone devices and these very same devices are also the right hand of the advisors in order to know balancing, the forecasts of the technical aspects and the fund research.
The average population is also living longer than before therefore management of the financial aspect is taken in long-term. Mr. Coleman said that people are no longer confined to planning until they are 65 years old but rather they have to think about managing their money so they will be able to fund their lifestyle until they reach 95 years old.
There is also the dilemma of the increasing number of younger generation that prefers to use financial advice website rather than to search for an actual financial advisor they can consult and talk to.
Posted in Business
An alliance of various companies are considering Western Australia’s capital city of Perth as home to LNG projects, expecting the city to be on par with Doha, Houston, and Aberdeen.
From Norway to Australia
Mike Deeks flew from London to Norway to push international businesses to establish engineering and logistics companies in Perth, opening up thousands of high-paying jobs to its residents. The Western Australia’s government hopes that these engineering and logistics companies in Perth like Worley Parsons, Halliburton, and Schlumberger would invest on local skilled workers, offering up to $200,000 annual salary.
The LNG Task Force
The push for these companies to employ locals will be led by Mark McGowan, Meredith Hammat, and other representatives from established companies and institutions in the country, including the Australian Petroleum Production and Exploration Association, Shell, Wood side, Santos, and Chevron.
Mark McGowan explains that they are the gorilla in the industry. He adds that they have made plans to get the right people from the right companies to be in the same room and discuss this matter so that they can establish a long, successful future in Australia, and work together towards it.
Strong Local Service
McGowan adds that the city had the edge against established energy capitals, especially because they have a strong local service sector. They believe that the workers in Perth can provide high-quality service, not only in meeting the requirements of the company, but also in propelling innovations, and developing improvements to make the productivity even better. With up to 45,000 jobs projected to be available, many of the citizens in the city are high-skilled workers that could greatly contribute to the long-term success of the companies that would choose the city as their headquarters.
Stedman Ellis, an APPEA chief operating officer, explains that the competitive sector of the city can generate up to 8,250 local hobs. The city’s increasing capacity and exporting services are seen as their edge, marking Perth as one of the largest LNG hubs in the world.
According to a report conducted by consultants McKinsey and Company in 2016, left without any intervention from industries and the government, the service sector would support 10,000 to 15,000 less jobs in the country. Such is a huge number to fill in terms of unemployment and income disparity. This further highlights the importance of taking necessary steps to get companies on-board and invest in the city.
Posted in Business
If you have a physical store or office for your business, you must apply for an EIN in Oklahoma but what about those online stores that are operating outside of the state? In a recent ruling, the United States Supreme Court has decided that states are now legally allowed to put in place taxes to businesses that are outside of the state as long as they have goods coming in which are ordered through the internet. Politicians in Oklahoma got a little bit excited of this ruling because they though they will be able to collect more tax dollars.
That big hope was squashed when it was calculated that the potential tax gains may not be as high as they think. There is a risk to it too because careless collections of taxes might impact the economy negatively which is opposite their main goal.
Ever since the rise of online shopping, states are not allowed to collect taxes from businesses that have no physical shop within their jurisdiction. Local sales taxes are also not imposed on the business as long as the customer ordered through an online method or catalogue. The customers, however, are mandated to pay the tax but only few do so and many do not bother to report whatever they ordered online since it cannot be tracked by the taxation authorities.
Now the Supreme Court decided to overturn its previous decisions. With this, the state of Oklahoma is given the permission to mandate businesses all over the United States to pay state as well as local taxes as long as they are selling products to consumers residing within Oklahoma. Other states are also given the permission to impose the same rules in all Oklahoma businesses that are selling their products online to consumers residing in other states.
The sales tax rate for the state of Oklahoma is currently 4.5 per cent and if there is an additional sales tax rate imposed by the local then the total could reach 11.5 per cent. According to estimates, the residents of Oklahoma spend almost $3 billion on annual purchases through online channels thus the state government could earn as much as $160 million per year. This is on top of sales earned from businesses that were able to apply for an EIN in Oklahoma which are also mandated to pay taxes.
Posted in Business
Typical office workers will spend most of their time sitting in their office chairs on a daily basis than having spent on home chairs. While many of them don’t get to choose their chairs, those who do make a choice of choosing comfortable chairs to sit on.
Many of the office chairs come with rollers. It provides easy movement on the chair and allows them to move from one work station to another without even standing up. Chairs without rollers are known as side chairs are solely intended for visitor’s usage in an office.
To be productive in a day, you need to be seated comfortably in your office chair. This is essentially true for all employees. If they don’t feel comfortable with their chair, they will spend more time on breaks than producing expected results.
An office chair can be adjusted in various ways to provide comfort. One important adjustment to make is the height of the chair. You will be uncomfortable when your feet don’t reach the floor or if your knees are folded to your chin. Modern office chairs need to be adjusted with a pneumatic cylinder that adds springiness to the chair.
You also need to provide the right amount of back support to make the chair really comfortable. Back support is required for those using a keyboard or typewriter for most of the day.
An office chair with adequate stool height is what most persons prefer when standing or working at a counter. The chairs provide back support that is not provided in a stool. The foot support is in a shape of a ring circling the chair. These chairs will provide relief when frequently standing, and will allow you to work efficiently.
There are many providers of office chairs online. You can select the best variety of chairs that will suit your preference and your need for comfort. Before deciding to buy the chair, have yourself seated on the chair to test its capabilities. You can check this out online especially if they provide the best prices. Look for online shops that provide free shipping to your address, so you do more savings.
Posted in Business