Taxation of copper and nickel ores mining in Australia, Canada, Chile, Kazakhstan and USA

The subject. This article discusses the taxation of copper and nickel extraction in Australia, Canada, Chile, Kazakhstan and USAThe purpose of the article is to confirm or disprove the hypothesis that the experience of taxation of copper and nickel extraction in Australia, Canada, Chile, Kazakhstan and USA may be used for modifying the mineral extraction tax (MET) in Russia in order to increase the share of resource rent collected by the government.The methodology of research includes legal interpretation and economic analysis of the tax legislation in United States, Canada, Australia, Chile and Kazakhstan as countries with a well-developed tax system and a significant size of the mining sector in overall GDP.The authors select the legislative acts of these countries and regions that determine the procedure for collecting taxes in the extraction of metal ores, including those containing copper and nickel, as well as in the production of copper and nickel. The selected legislative acts are analyzed to determine the essential parameters of taxation. Particular attention is paid to the method of calculating the tax base, taking into account the approach to assessing the value of the taxable object, permissible tax deductions and exceptions, which allows authors to test the hypothesis put forward by determining which part of the value of a mineral resource is withdrawn during taxation.The main results, scope of application. Mineral extraction tax is the main tool for collecting natural resource rent in Russia. However, the level of taxation of solid minerals and coal is disproportionately low compared to their share in the production and export of raw materials. Thus, in 2018, the amount of MET on all minerals totaled 100.5 billion rubles, while the MET collected from oil and natural gas amounted to 5,979.6 billion rubles, i.e. 60 times as much. At the same time, the role of solid minerals in the Russian economy is comparable to the role of oil and gas. The share of the main types of minerals in the exports of the Russian Federation in 2018 was 20.4% compared to 56% for oil and gas, i.e. the difference of less than three times. The contribution of the industries related to the extraction of minerals and production of metals (mining of coal, ores, diamonds, metallurgy, fertilizer production) to the Russian GDP is about half as much as that of industries involved in the extraction and processing of oil and natural gas (7% and 14% of GDP respectively).In view of the above, it is important to develop a new approach to the taxation of solid minerals in Russia based on the world’s best practices. In order to identify the general principles of their taxation, we have conducted a detailed analysis of the tax legislation in a number of countries with a well-developed tax system and a significant size of the mining sector (the United States, Canada, Australia, Chile and Kazakhstan). We focused on the taxation of copper and nickel ores mining.Conclusions. The analysis of the international experience of taxation of copper and nickel mining sector reveals the following trend: the tax is calculated based on the market value of the extracted minerals, which is linked to the price quotes for the relevant product on an organized metal exchange (for example, the price of pure metal on the London Metal Exchange). This approach can be used in the Russian tax practice in several ways. First, Russia can adopt the Australian model where royalty on a mineral resource can be levied at the time of sale of the useful component irrespective of the processing stage (ore, concentrate or metal). The second potential model is based on the actual sale price of the product (provided it is sold in an arm’s length transaction) after deducting the costs of processing (i.e., smelting, enrichment etc., depending on the stage of processing) to arrive at the market value of the ore at the "mine mouth". The third is the Canadian model which is similar to the second one, but with the extraction costs also deducted from the sale price.

About possibility of reduction weight and dimensions of dock’s rack of ship’s cross bulkhead

Для восприятия значительной части реакции килевой дорожки при доковании корабля в конструкцию поперечных переборок вводится центральная (доковая) стойка, размеры поперечного сечения которой выбираются из условия ее прочности и устойчивости. В традиционных методиках необходимая площадь поперечного сечения доковой стойки определяется без учета работы обшивки переборки и ближайших к диаметральной плоскости вертикальных стоек, что приводит к значительным размерам и весу доковой стойки. Кроме того, сжимающее усилие в стойке в методиках полагается линейно убывающим от максимального значения у днища до нулевого у палубы. В данной работе численно исследуется взаимодействие конструктивных элементов плоской поперечной переборки корабля при его доковании. Целью исследования является выяснение степени участия обшивки переборки и ближайших к доковой стойке вертикальных стоек в восприятии реакции килевой дорожки и уточнение характера распределения этой реакции по высоте доковой и вертикальных стоек. На первом этапе исследования авторами была разработана более простая плоская конечно-элементная модель собственно переборки. На втором этапе использовалась также разработанная авторами пространственная конечно-элементная модель части корпуса корабля, включающая, кроме самой поперечной переборки, прилегающие к ней палубы, борта и днище. Результаты, полученные по обеим моделям, показывают, что сжимающие напряжения в переборке локализуются в нижней центральной ее части, а реактивное усилие от килевой дорожки распределяется между доковой стойкой, ближайшими к ней вертикальными стойками и обшивкой переборки. Причем по высоте доковой стойки реактивное усилие уменьшается от днища к палубе не линейно, а быстрее, что приводит к увеличению критической нагрузки стойки при прочих равных условиях. Установлено, что при обеспечении устойчивости соседних с доковой вертикальных стоек эффективная площадь обшивки переборки и вертикальных стоек, воспринимающая реакцию килевой дорожки вместе с доковой стойкой, может составить более 50% от площади профиля доковой стойки. To perceive a significant part of the reaction of the keel track when docking a ship, a central (dock) rack is introduced into the structure of transverse bulkheads, the cross-sectional dimensions of which are chosen on the basis of its strength and stability. In classic methods, the required cross-sectional area of the dock rack is determined without taking into account the work of the bulkhead skin and the vertical racks closest to the diametrical plane, which leads to significant size and weight of the dock rack. In addition, the compression force in the rack in the methods is assumed to decrease linearly from the maximum value at the bottom to zero at the deck. In this paper, the interaction of structural elements of a ship's flat transverse bulkhead during its docking is numerically investigated. The purpose of the study is to clarify the degree of participation of the bulkhead skin and the vertical racks closest to the dock stand in the perception of the keel track reaction and to clarify the nature of the distribution of this reaction along the height of the dock and vertical racks. At the first stage of the study, the authors developed a simpler flat finite-element model of the bulkhead itself. At the second stage, the space finite-element model of the ship's hull part developed by the authors was also used, including, in addition to the most transverse bulkhead, the decks, sides and bottom adjacent to it. The results obtained from both models show that the compressive stresses in the bulkhead are localized in its lower central part, and the reactive force from the keel track is distributed between the dock rack, the nearest vertical racks and the bulkhead skin. Moreover, by the height of the dock rack closest to it, the reactive force decreases from the bottom to the deck not linearly, but faster, which leads to an increase in the critical load of the rack, all other things being equal. It has been established that with ensuring the stability of the vertical racks adjacent to the dock, the effective area of the bulkhead skin and vertical racks, which perceives the reaction of the keel track together with the dock rack, can contain more than 50% of the required area of the dock rack’s profile.

Rapid Optical Clearing for High-Throughput Analysis of Tumour Spheroids

Tumour spheroids are fast becoming commonplace in basic cancer research and drug development. Obtaining high-quality data relating to the inner structure of spheroids is important for analysis, yet existing techniques often use equipment that is not commonly available, are expensive, laborious, cause significant size distortion, or are limited to relatively small spheroids. We present a high-throughput method of mounting, clearing, and imaging tumour spheroids that causes minimal size distortion. Spheroids are mounted in an agarose gel to prevent movement, cleared using a solution prepared from commonly available materials, and imaged using confocal microscopy. We find that our method yields high quality two- and three-dimensional images that provide information about the inner structure of spheroids.

HOUSING CHOICES AND THEIR IMPLICATIONS FOR CONSUMPTION HETEROGENEITY

This paper proposes a model to jointly explain two stylized facts observed in the recent empirical literature—the existence of a significant size of wealthy hand-to-mouth consumers and negative marginal propensities to consume associated with housing upgrades. The key ingredients of the model are a realistic set of housing choices, sizable down payment requirements, transaction costs, and endogenous borrowing constraints. Moreover, in the presence of unanticipated income shocks, this richness in marginal propensities to consume has significant implications for aggregate consumption and helps explain the puzzling increase in savings by low net worth households observed during the Great Recession as well as the consumption responses to recent tax rebates.

Archaeology of Early Chinese Settlement in Southeast Asia

Little historical information is available about early Chinese settlement in Southeast Asia. By the 15th century several Chinese settlements of significant size had formed, but they vanished by the time the Portuguese reached the region. This article surveys the historical literature on these early overseas Chinese settlements, and summarizes the contributions which archaeology can make to clarifying the timing and nature of the process.

Cosmic cloaking of rich extra dimensions

We present arguments that show why it is difficult to see rich extra dimensions in the universe. Conditions are found where significant size and variation of the extra dimensions in a Kaluza–Klein compactification lead to a black hole in the lower-dimensional theory. The idea is based on the hoop conjecture concerning black hole existence, as well as on the observation that dimensional reduction on macroscopically large, twisted, or highly dynamical extra dimensions contributes positively to the energy density in the lower-dimensional theory and can induce gravitational collapse. A threshold for the size is postulated on the order of [Formula: see text][Formula: see text]m, whereby extra dimensions of length above this level must lie inside black holes, thus cloaking them from the view of outside observers. The threshold depends on the size of the universe, leading to speculation that in the early stages of evolution truly macroscopic and large extra dimensions would have been visible.

Analytical comparison of longitudinal launching of a vessel into the water with grounding

Регулярно в мире терпит крушение большое количество крупных судов. Количество случаев крушения с каждым годом растет. Крушения происходят, в том числе, из-за значительных размеров судов, роста интенсивности движения на морских путях, роста скоростей движения, неблагоприятных метеорологических условий, недостатков современных навигационных систем. Исходя из этого, следует больше уделять внимание методикам и средствам спасения судна при крушении. В случае крушения судна, для спасения человеческих жизней и груза может быть использована преднамеренная посадка судна на мель. Актуальность исследования вопросов, связанных с преднамеренной посадкой на мель, подтверждается: разработкой новых методов стягивания судна с мели, разработкой в области создания безэкипажных судов, Международной конвенцией о подготовке и дипломировании моряков и несении вахты, которая требует от судоводителя: умения осуществлять преднамеренную посадку на мель, понимания основных действий в случае, если посадка на мель неизбежна и действий после посадки на мель. В работе рассматривается продольный спуск судна на воду вперед кормой. Приводится аналитическое доказательство того, что в первом приближении продольный спуск на воду схож с посадкой судна на мель. Приводятся соответствующие математические выкладки. Из приведенного доказательства следует вывод, что в практике судоходства, в аварийной ситуации, можно рассчитать посадку на мель так, что это может привести к спасению судна и как следствие его экипажа и пассажиров. A large number of large ships are wrecked on a regular basis in the world. The number of crash cases is growing every year. Wrecks occur, among other things, due to the significant size of ships, the growth of traffic on sea routes, the growth of traffic speeds, unfavorable meteorological conditions, and the shortcomings of modern navigation systems. Based on this, more attention should be paid to methods and means of rescuing a ship in case of a wreck. In the event of a shipwreck, deliberate grounding of the ship may be used to save lives and cargo. The relevance of the study of issues related to deliberate grounding is confirmed by: the development of new methods for pulling a ship aground, development in the field of the creation of unmanned vessels, the International Convention on the Training and Certification of Seafarers and Watchkeeping, which requires the boatmaster to: the ability to carry out deliberate grounding, an understanding of basic actions in the event that a grounding is imminent and of actions after a grounding. The paper considers the longitudinal launching of the vessel into the water forward stern. Analytical proof is given that, in the first approximation, the longitudinal launching is similar to the landing of a ship aground. The corresponding mathematical calculations are given. From the above evidence it follows that in the practice of shipping, in an emergency, it is possible to calculate the aground so that it can lead to the salvation of the vessel and, as a consequence, of its crew and passengers.

KEBIJAKAN DIVIDEN PADA PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BURSA EFEK INDONESIA

ABSTRAK Penelitian ini bertujuan untuk menentukan dan menganalisa pengaruh profitabilitas, leverage, ukuran perusahaan, pertumbuhan dan likuiditas terhadap kebijakan dividen pada perusahaan manufaktur yang terdaftar di bursa Efek Indonesia dalam tahun amatan 2013-2017. Populasi penelitian adalah semua perusahaan manufaktur yang terdaftar di BEI, dengan sampel yang diperoleh 37 perusahaan yang sesuai dengan kriteria yang ditetapkan. Data tersebut dianalisa dengan menggunakan pengujian asumsi klasik dan analisa berganda dengan menggunakan SPSS 25. Simpulan dari peneliian ini menyatakan bahwa profitabilitas berpengaruh signifikan terhadap kebijakan dividen, Pertumbuhan berpengaruh negatif signifikan terhadap kebijakan dividen. Sementara itu, leverage tidak berpengaruh negatif signifikan, ukuran perusahaan dan likuiditas tidak berpengaruh positif signifikan terhadap kebijakan dividen.Kata kunci: kebijakan dividen, profitabilitas, pertumbuhan, teori sinyal ABSTRACT This study aims to determine and analyze the effect of Profitability, Leverage, firm size, growth and liquidity on Dividend Payout Ratio, in manufacturer companies listed on the Indonesia Stock Exchange (IDX) for the period 2013-2017. The population in this study were all manufacturer companies listed on the Indonesia Stock Exchange (IDX), while the samples that met the criteria for sampling for this study amounted to 37 companies. Analysis of sample data for this study is the Analysis of Multiple Linear Regression, Classical Assumption Test, Hypothesis Test, and Determinant Coefficient using SPSS 25 measuring instruments. The results showed that profitability show a positif significant on the Dividend Payout Ratio, Growth show negative significant on the Payout Ratio Dividend. However, leverage did not show negative significant, size and liquidity did not show positive significant on Dividend Payout Ratio.Keywords: dividend policy, growth, profitability, signaling theory

Adrenal adenomas: what to do with them? Review 2

Adrenal incidentalomas (AI) are a collective, working category that contains a wide range of different forms of patho­logy of these glands. They differ in the original tissue structures from which they originate, in clinical and hormonal characte­ristics, in diagnostic and tactical approaches. Such a wide range of emergencies, which are hidden under the guise of accidentally detected AI, puts before the clinician the task of identifying them (establishing a clinical and, if possible, morphological diagnosis) with the definition of tactical approaches. Based on the analysis of these data, as well as numerous publications, their working classification is proposed. When deciding on surgical treatment, the surgeon must have a clinical diagnosis — what nosological form of adrenal pathology is to be operated on. Interventions with the diagnosis AI are unacceptable and are a gross error. The optimal operation for most such tumors is laparoscopic adrenalectomy with the tumor. Open operations are indicated for malignant tumors of significant size, especially with signs of invasion into surrounding structures. Given that most AI are benign formations, it is equally important to determine further tactics for them — the mode and duration of observation, the order and scope of control clinical and hormonal and imaging studies, the principles of evaluation of the results. Several guidelines indicate that in the presence of hormonally inactive adenomas, without signs of malignancy, less than 3–4 cm in size, no further observation is indicated. It is noted that in such tumors the tendency to growth, malignancy, emergence of hormonal activity is extremely seldom observed. In other cases, especially with the slightest doubt of the initial results, follow-up examinations are recommended after 3, 6, 12 months and then after 1–2 years, the maxi­mum period is set to five years. These parameters are the subject of discussion in various clinics.