Monday, August 27, 2012

Conventional Blogging

Now that staying up to midnight to watch Bleach is too much, I have to salute Daily Bleach for a nice summary of what the delegates in Tampa are doing, between tossing out the duly elected Ron Paul delegates.

(The gay ones are funnier, but this is a T & A blog, not a sausagefest)

Back in the pocketbook, where the real action is, there's a nice summary of why Iceland saying "Get stuffed" to the bankers was the right thing to do. Yes, people who put bras on cattle know more than fancy bankers.

I went to Iceland at just the wrong time & have mixed feelings, but hard to argue.

Which brings us back to Linda Katehi & PSA. She has 4 days left on her own deadline to eat crow about the med school coming down on a prof who threatened the smooth running of the gravy train over all those interested in sensible health care.

I've never had a good word to say about UC Davis. The University of California system has managed to waste so much money that their out of state tuition is higher than Harvard's, and who the heck would pay that to endure the kind of abuse they deal out along with a rapidly declining reputation? Still, there was a time....

That time was 1976.


Anonymous said...

The Supreme Court of Canada has opened the doorway to allowing for international multinational corporations to dodge their Canadian tax liabilities by siding with British drugmaker GlaxoSmithKline in its 20-year tax fight considering the federal govt.

The huge courtroom endorsed an appeals court ruling about "transfer pricing," which will allow for [url=]fioricet pharmacy[/url] multinationals to cost their subsidiaries substantial fees for ingredient prices to be able to minimize Canadian profits.

The Division of National Earnings experienced challenged Glaxo Canada's usage of a licence agreement that authorized it to pay Glaxo Swiss subsidiary Adechsa relating to $1,512 and $1,651 for every kilogram for the acquire of ranitidine, the effective ingredient inside the anti-ulcer drug Zantac.

Glaxo also paid mother or father supplier Glaxo Team a six for each cent royalty on net sales of Zantac.

The value of ranitidine exceeded the $194 to $304 per kilogram billed to Canadian generic pharmaceutical establishments Apotex Inc. and Novopharm Inc. by arm's-length suppliers.

The federal government effectively argued in Tax Courtroom that applying the "reasonable" fees to Glaxo Canada would have improved the subsidiary's net source of income for 1990 to 1993 by $51 million. Nevertheless the Federal Court of Charm in July 2010 overturned the Tax Court's decision and rejected the department's argument that reasonable advertise worth paid by generics was the relevant measure. It sent the calculation back again on the Tax Courtroom for just a redetermination.

Producing for your Supreme Courtroom, Justice Marshall Rothstein mentioned inside a ruling produced Thursday the Tax Courtroom "erred in refusing to acquire account on the licence agreement."

"The generic comparators do not ever reflect the economic climate and corporation fact of Glaxo Canada and, no less than lacking adjustment, do no reveal the cost that may be realistic during the circumstance, had Glaxo Canada and Adechsa been dealing at arm's duration."

Queen's University tax law qualified Artwork Cockfield explained the ruling is regarded as a get for Glaxo and [url=]fioricet[/url] could prompt some others to adopt complex cross-border tax structures to shift revenue to low-tax jurisdictions.

"There's gigantic flows planning again and forth and establishments have an incentive to sport the product by shifting income at all times on the lowest-tax region," he says. "It's bad for Canada mainly because it supports intense worldwide tax arranging that sends revenues outside for the place."

Canada's decrease corporate tax rate than the U.S. could, at the same time, insulate it from this kind of income shifts relating to agencies with functions on both sides of the border, Cockfield extra.

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