11 Oct
Taiwan Semiconductor Is Fab.
Over the last 20 years, the chip industry has undergone a significant transformation with the advent of contract chip manufacturing, an industry founded by TSM. Established in 1987 under the flagship of Chairman and Chief Executive Officer Morris Chang, who was also the then founding Chairman, TSM is the world”s largest dedicated independent semiconductor foundry. Since then, TSM has pioneered the ‘dedicated silicon foundry’ industry and is the largest silicon foundry in the …
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10 Oct
Will Obama”s International Tax Changes Succeed?.
This proposal has business leaders, especially those in the technology industry, very wary.
The Obama administration has characterized these tax changes as reform that seeks to get rid of corporate loopholes in the tax code. But portraying these changes as reform, rather than tax hikes, isn”t exactly right. If it were reform, it would necessarily target abuses, but it goes far beyond that.
As I”ve mentioned, I”m all for the government cracking down on individuals or corporations who cheat on taxes. But in the case of international tax deferrals and foreign tax credits, there are legitimate reasons why current policy is in place, beyond creating loopholes for multinationals to get out of their duty of paying taxes to the U.S.
Howard Gleckman from the Tax Policy Center does a good job of explaining the legitimacy of the foreign tax credit and deferral:
It is all very complicated, but boiled down to its essence, the tax regime works like this: You open a plant in Ireland and pay the top Irish rate of 12.5 percent on your profits.more
10 Oct
Minister Paradis Announces Consultations on Military Procurement.
It will result in better planning, more predictable investment for industry, and facilitate the supply of critical procurement in support of federal government programs and missions.’
This consultation will be in collaboration with the Department of National Defence and Industry Canada, and will provide a forum for industry representatives to formally express their views and make suggestions on how to improve the military procurement system. This consultation builds on Public Works and Government Services Canada”s achievements to reduce the time it takes to procure major military equipment.
‘The Canada First Defence Strategy sets the stage for a renewed relationship with Canada”s defence industry. These consultations will help develop and strengthen that relationship,’ said Minister of National Defence and Minister for the Atlantic Gateway, the Honourable Peter MacKay.more
