By 1914 the "personal" income tax had come to be regarded in a number of countries not only as an important revenue instrument but also as an instrument for achieving social reform through income redistribution.
On products like derivatives, firms will lose revenue as instruments once traded off exchanges will move into open markets.
Double dividend The effect that revenue-generating instruments, such as carbon taxes or auctioned (tradable) carbon emission permits, can (i) limit or reduce greenhouse gas emissions and (ii) offset at least part of the potential welfare losses of climate policies through recycling the revenue in the economy to reduce other taxes likely to be distortionary.
But many Hungarians just do not think the taxes are working and see the effort primarily as a revenue-raising instrument, instituted after the conservative government introduced a flat-rate income tax, which created a large hole in the budget.
Delphi said it was still considering selling or closing businesses with about $3.4 billion in annual revenue, including its instrument cluster and sensor unit and its Harrison Thermal Systems division.
"There's never been a move by a county supervisor to use the four-vote requirement to recognize new revenue as an instrument to frustrate a policy objective," Yaroslavsky said later in an interview.
In New York, he worked on issues relating to financial instruments, and revenue recognition, among others.
Jorgenson and Wilcoxen (1993b) had shown that revenue from market-based instruments of environmental policy can be used to reduce pre-existing distortions associated with taxes on incomes from labor and capital.
Philipp Lotter of Moody's, a rating agency, notes that South-East Asian firms issuing dollar-denominated debt tend to be well hedged, either naturally, through dollar-denominated revenue, or with financial instruments.
For companies that face difficulty in obtaining financing due to a perception of high credit risk, the IFC securitizes assets with predictable cash flows, such as mortgages, credit cards, loans, corporate debt instruments, and revenue streams, in an effort to enhance those companies' credit.
