Research on the Individual Income Tax-Deferred Commercial Endowment Insurance from the Perspective of Fairness

In order to alleviate the pressure of the basic endowment insurance system, China has implemented the policy of individual income tax-deferred commercial endowment insurance (IITDCEI) and actively explored the development path of individual supplementary endowment insurance. At present, the same tax rules are adopted for different income groups. Considering that people's income gap is large, different income groups enjoy different degrees of tax preference under this policy, which may cause social injustice and increase the gap between the rich and the poor. Based on this, we propose a new optimization scheme by adjusting the tax rate and the maximum premium limit of the insurance amount so as to coordinate the interests of low-, medium-, and high-income subjects and balance the degree of tax preference among the three subjects. At the same time, we also change the two parameters of the predetermined interest rate and retirement age, and compare the changes of the tax preference under the old and new schemes, and provide corresponding countermeasures for the implementation of the IITDCEI policy.

Economic growth and crude oil revenue in Nigeria

This paper investigated how oil revenue and the activities in the oil industry affected the size of income accrue to each Nigerian (Per capita income) from 1980 to 2019. The variables were sourced from the World Bank’s World Development Indicators (WDI), OPEC Statistics, Baker Hughes Rig Count and the central bank of Nigeria statistical bulletin. Using the AutoRegressive Distributional Lag (ARDL) we observed that explorative activities of crude oil in Nigeria positively impacted the size of individual income. The magnitude of the impact was massive irrespective of time; a 1% increase in exploration increases the size of individual income by 0.4786% in the long run and 0.6030% in the short run. The interaction of rigs by output (interaction of rig-count and oil-production) negatively impacted the size of individual income. This implies that the size of individual income in Nigeria is sensitive to the nature of the explorative environment of the Nigerian oil industry.

THE ILO AND THE SOCIAL CONSEQUENCES OF THE COVID-19

In this essay, the author gives account of how the International Labour Organization (ILO) is working to provide assistance to its members to overcome the social consequences of the pandemic in progress. The virtues of two of its tools and of their smooth interaction are successively analyzed. The Institution has first investigated the available data and published economic analyses on the disastrous consequences of the scourge on employment and therefore, on individual income. It has addressed a series of socio-economic recommendations to governments. It has secondly referred to the international legal corpus as a guide to the States in their responses to the exceptional situation. The ILO labour standards provide a threshold of minimum protection to the benefit of those who work or want to work. They constitute guarantees which appear even more important in difficult times to enable people to go through critical periods without intolerable trouble. Some could still be strengthened.

The Importance of the Direct Individual Income Taxes in the Structure of the Tax System

The optimal functioning of a country’s economy depends on the implemented tax policy, which in turn depends on the degree of the development of the tax system. A specific role among the tax forms, included in the tax system, is played by direct income taxes, which are levied on natural persons. These taxes are the subject of the research in this paper, particularly their organization. The article also pays attention to the preferences introduced, leading to changes in the direct individual income taxes.

Disease-related income and economic productivity loss in New Zealand: A longitudinal analysis of linked individual-level data

Background Reducing disease can maintain personal individual income and improve societal economic productivity. However, estimates of income loss for multiple diseases simultaneously with thorough adjustment for confounding are lacking, to our knowledge. We estimate individual-level income loss for 40 conditions simultaneously by phase of diagnosis, and the total income loss at the population level (a function of how common the disease is and the individual-level income loss if one has the disease). Methods and findings We used linked health tax data for New Zealand as a high-income country case study, from 2006 to 2007 to 2015 to 2016 for 25- to 64-year-olds (22.5 million person-years). Fixed effects regression was used to estimate within-individual income loss by disease, and cause-deletion methods to estimate economic productivity loss at the population level. Income loss in the year of diagnosis was highest for dementia for both men (US$8,882; 95% CI $6,709 to $11,056) and women ($7,103; $5,499 to $8,707). Mental illness also had high income losses in the year of diagnosis (average of about $5,300 per year for males and $4,100 per year for females, for 4 subcategories of: depression and anxiety; alcohol related; schizophrenia; and other). Similar patterns were evident for prevalent years of diagnosis. For the last year of life, cancers tended to have the highest income losses, (e.g., colorectal cancer males: $17,786, 95% CI $15,555 to $20,018; females: $14,192, $12,357 to $16,026). The combined annual income loss from all diseases among 25- to 64-year-olds was US$2.72 billion or 4.3% of total income. Diseases contributing more than 4% of total disease-related income loss were mental illness (30.0%), cardiovascular disease (15.6%), musculoskeletal (13.7%), endocrine (8.9%), gastrointestinal (7.4%), neurological (6.5%), and cancer (4.5%). The limitations of this study include residual biases that may overestimate the effect of disease on income loss, such as unmeasured time-varying confounding (e.g., divorce leading to both depression and income loss) and reverse causation (e.g., income loss leading to depression). Conversely, there may also be offsetting underestimation biases, such as income loss in the prodromal phase before diagnosis that is misclassified to “healthy” person time. Conclusions In this longitudinal study, we found that income loss varies considerably by disease. Nevertheless, mental illness, cardiovascular, and musculoskeletal diseases stand out as likely major causes of economic productivity loss, suggesting that they should be prioritised in prevention programmes.

Intergenerational Mobility of Earnings and Income among Sons and Daughters in Vietnam

<p>In this thesis, I investigate intergenerational mobility of earnings and income among sons and daughters in Vietnam. In particular, my objective is to estimate intergenerational elasticity (IGE) of sons’ and daughters’ individual earnings, individual income, and family income with respective to father’s individual earnings. The two-sample two-stage least squares (TS2SLS) estimation is employed to achieve the research objective using two primary samples of father-son pairs and father-daughter pairs from Vietnam Household Living Standard Surveys (VHLSS) of 2012 and one secondary sample from Vietnam Living Standard Surveys (VLSS) of 1997-98. My results show that the baseline IGE estimates of Vietnamese sons are 0.361, 0.394 and 0.567 for individual earnings, individual income, and family income, respectively. For Vietnamese daughters, the baseline IGE estimates are 0.284, 0.333 and 0.522 for individual earnings, individual income, and family income, respectively. These IGE estimates explicitly reveal that Vietnam has the intermediate degrees of individual earnings and individual income mobility, and the low degree of family income mobility cross generations for both sons and daughters by the international comparison.</p>

Intergenerational Mobility of Earnings and Income among Sons and Daughters in Vietnam

<p>In this thesis, I investigate intergenerational mobility of earnings and income among sons and daughters in Vietnam. In particular, my objective is to estimate intergenerational elasticity (IGE) of sons’ and daughters’ individual earnings, individual income, and family income with respective to father’s individual earnings. The two-sample two-stage least squares (TS2SLS) estimation is employed to achieve the research objective using two primary samples of father-son pairs and father-daughter pairs from Vietnam Household Living Standard Surveys (VHLSS) of 2012 and one secondary sample from Vietnam Living Standard Surveys (VLSS) of 1997-98. My results show that the baseline IGE estimates of Vietnamese sons are 0.361, 0.394 and 0.567 for individual earnings, individual income, and family income, respectively. For Vietnamese daughters, the baseline IGE estimates are 0.284, 0.333 and 0.522 for individual earnings, individual income, and family income, respectively. These IGE estimates explicitly reveal that Vietnam has the intermediate degrees of individual earnings and individual income mobility, and the low degree of family income mobility cross generations for both sons and daughters by the international comparison.</p>

International Tax Planning: China's New Regime for Taxing Expatriate Income: Tightening the Screws or Vintage Wine in a New Bottle?

Expatriates have been fundamental to China's economic growth, contributing to the country's socioeconomic development and modernization. The second-largest group of expatriates in China are North Americans. Personal income taxation concessions for expatriate workers have been an important instrument to attract and retain skilled foreign labour since China opened its doors to foreign investment and an income tax was adopted four decades ago. A recent overhaul of the law on individual income tax introduced a number of changes to expatriate income taxation, including the winding back of some preferential concessions previously offered only to expatriates. A literal reading of these changes suggests that the new regime has led to harsher tax treatment of expatriates and increased their tax liability. This article considers whether this view holds up, by closely analyzing the new system's major features relating to individual income tax as they affect expatriates. The authors challenge the literal reading of the law and argue that the recent changes have not fundamentally altered the underlying policy on expatriate income taxation. Further, an economically stronger China has not observed any diminishment of the role of personal income taxation as an instrument of government policy, despite the recent changes. A generous interpretation of the legal terms and rules, and of the application of concessions under the amended system, may encourage more lenient treatment of Canadians and other expatriates working and living in China.

Modelling Neighbourhood Effects in Three Dutch Cities Controlling for Selection

The non-random selection of people into neighbourhoods complicates the estimation of causal neighbourhood effects on individual outcomes. Measured neighbourhood effects could be the result of characteristics of the neighbourhood context, but they could also result from people selecting into neighbourhoods based on their preferences, income, and the availability of alternative housing. This paper examines how the neighbourhood effect on individual income is altered when geographic selection correction terms are added as controls, and how these results vary across three Dutch urban regions. We use a two-step approach in which we first model neighbourhood selection, and then include neighbourhood choice correction components in a model estimating neighbourhood effects on individual income. Using longitudinal register datasets for three major Dutch cities: Amsterdam, Utrecht and Rotterdam, and multilevel models, we analysed the effects for individuals who moved during a 5-year period. We show that in all cities, the effect of average neighbourhood income on individual income becomes much smaller after controlling for explicitly modelled neighbourhood selection. This suggests that studies that do not control for neighbourhood selection most likely overestimate the size of neighbourhood effects. For all models, the effects of neighbourhood income are strongest in Rotterdam, followed by Amsterdam and Utrecht.