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In so doing, Iliffe sought to enjoy a tax deduction for payments amounting to £51.4m.
This is likely to be a reference to the ruling made late last year against a tax avoidance scheme used by another regional publisher, Iliffe News & Media, which owns 38 titles and is now part of David Montgomery's Local World, which enabled it to make a tax deduction for payments amounting to £51.4m.
Many are rich in mineral wealth.William BC Crandall Founder and president AbundantPlanet.org Redwood City, CaliforniaThe other side of the coinSIR – I imagine that most governments that allow tax deductions for payments into personal pension plans also require the beneficiaries to start withdrawing at a certain age.
A recurring question is whether the IRS permits couples contemplating divorce to take tax deductions for payments to divorce mediators or matrimonial attorneys.
Michael Durst has proposed limiting U.S. deductions for payments made to related foreign affiliates if those payments are to a low-tax country and they generate profits above a designated level.
Professor Bret Well has proposed a rule, similar to Mexico's, that would not allow deductions for payments to related foreign companies if those payments exceeded U.S. manufacturing income (computed under section 199).
One interesting proposal is to reduce the tax incentive for companies to borrow money by reducing the deduction for interest payments.
But the comptroller's office points out that nowhere in the original lease does it say that there would be a deduction for rent payments.
That sense of inclusion is an important part of the appeal to Kickstarter's supporters, who don't get a tax deduction for their payments.
The Bowles-Simpson report seems to have taken that message to heart, recognizing that when we provide tax advantages to spur certain types of spending — with, say, a deduction for interest payments on home mortgages — we in turn require higher marginal tax rates to raise offsetting revenue.
The key features are (a) an income tax on corporations and (b) a deduction for interest payments.
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