Thursday, October 22, 2020

2020 Melbourne Lord Mayor candidate Wayne Tseng answered some questions about his campaign for the upcoming election from Wikinews. The Lord Mayor election in the Australian city is scheduled to take place this week.

Tseng runs a firm called eTranslate, which helps software developers to make the software available to the users. In the candidate’s questionnaire, Tseng said eTranslate had led to him working with all three tiers of the government. He previously belonged to the Australian Liberal Party, but has left since then, to run for mayorship as an independent candidate.

Tseng is of Chinese descent, having moved to Australia with his parents from Vietnam. Graduated in Brisbane, Tseng received his PhD in Melbourne and has been living in the city, he told Wikinews. Tseng also formed Chinese Precinct Chamber of Commerce, an organisation responsible for many “community bond building initiatives”, the Lord Mayor candidate told Wikinews.

Tseng discussed his plans for leading Melbourne, recovering from COVID-19, and “Democracy 2.0” to ensure concerns of minorities in the city were also heard. Tseng also focused on the importance of the multi-culture aspect and talked about making Melbourne the capital of the aboriginals. Tseng also explained why he thinks Melbourne is poised to be a world city by 2030.

Tseng’s deputy Lord Mayor candidate Gricol Yang is a Commercial Banker and works for ANZ Banking Group.

Currently, Sally Capp is the Lord Mayor of Melbourne, the Victorian capital. Capp was elected as an interim Lord Mayor in mid-2018 after the former Lord Mayor Robert Doyle resigned from his position after sexual assault allegations. Doyle served as the Lord Mayor of Melbourne for almost a decade since 2008.

Tuesday, January 16, 2018

A car accident involving the car occupants and a dentist’s office happened on Sunday night in Santa Ana, California. A white Nissan sedan which was apparently driving too fast hit the raised concrete median on the road, after which it was launched into the air, slamming straight into the wall of the second floor of a two-story dental practice building, where the car got wedged.

According to the police, the car approached from a side street. The room of the dental office penetrated by the sedan was used as a storage space. A fire department crane was used to extract the vehicle from the building, which took several hours.

There were two people in the sedan. One of them managed to escape from the hanging vehicle on his own, while the other one remained trapped inside it for over an hour. They were both hospitalized with minor injuries, according to the Orange County Fire Authority (OCFA). According to the police, the driver of the car admitted narcotics use, and after toxicology tests the case is to be submitted to the Orange County District Attorney’s Office.

The moment of the accident was captured by surveillance video from a bus which the car narrowly missed when becoming airborne.

According to OCFA spokesperson Captain Stephen Horner, there was a small fire after the crash, which was extinguished quickly.

Tuesday, July 17, 2007

Pittsburgh, Pennsylvania — Local caterers get ready for big business, as almost three thousand fans converge on the David L. Lawrence Convention Center over the Independence Day weekend for the world’s largest ever furry convention, Anthrocon 2007.

Many hope to renew acquaintances, or meet new friends. Others look to buy from dealers and artists, or show off new artwork or costumes. Some attend to make money, or even learn a thing or two. But one thing unites them: They’re all there to have fun.

Monday, February 14, 2005

Electronics retailer Best Buy said today that it signed leases for 28 new stores. This is part of the company’s plan to build 60 new stores this year. Best Buy, the largest consumer electronics retailer in the United States, declined to discuss the terms of the leases but did say that the new stores will result in the addition of 3,500 more jobs to the corporate payroll.

Friday, March 10, 2006

On February 8, the same day Super Size Me opened in Prague, a Czech film company’s volunteer known as Karel Gustav Bozan began a 1 month diet of Czech pub food and beer in a Czech version called “Super Spek Me”; which translates loosely as “Super Flab Me”.

Zuzana Pudilova of Aerofilms described the volunteer at that time: “He is a well-built man between 45 and 50. He is almost 2 metres tall, he is not exactly thin but until now he has had quite a healthy lifestyle.”

Karel ate typical Czech pub food for an entire month with three rules: no vegetables or fresh fruit (unless they came with a meal) no exercise, and lots of beer.

Karel’s menu consisted entirely of typical Czech dishes. Obesity therapist, Iva Malkova, had warned at the beginning of the project: “People in the Czech Republic eat much more fat, especially animal fat than is recommended.” Pub meals in the Czech Republic often consist of such fatty items as goose with dumplings or sausages.

Yesterday the results were announced; Karel lost six kilos, his cholesterol went down and so did his liver enzymes, triglyceride and uric acid levels. His blood pressure did not change. At his interview with Radio Prague he said: “I feel good, great! The food was varied and there were even enough greens in the garnish. As for beer, I tried to alternate brands but I always settled it with Pilsner. I liked the experiment, it was all paid for by the distributor, Aerofilms. I would do it again, maybe they will propose it to me!”

Zuzana Pudilova of Aerofilms said: “The result of the experiment is surprising – both for us and the experts who monitored it. The medical report says our volunteer has lost weight and his blood sugar has dropped. So we have come to the conclusion that fatty Czech pub grub is not all that bad for you – which I guess wasn’t meant to be the result of the experiment at all.”

Thursday, July 1, 2021

130 countries and jurisdictions in the 139-member Organisation for Economic Co-operation and Development (OECD) agreed to support an overhaul to the international taxation system that would introduce a global minimum corporate tax rate Thursday, committing most of the world’s economies to a two-pillar “solution”.

The states which agreed to the plan’s key components included regional divisions such as Gibraltar, Hong Kong and Montserrat, tax havens according to the Associated Press (AP) Bermuda and the Cayman Islands and all Group of Twenty (G20) countries, according to an OECD list, but not Barbados, Estonia, Hungary, Ireland, Kenya, Nigeria, Sri Lanka and Saint Vincent and the Grenadines. Peru also abstained, but due to its lack of government, according to The Guardian.

Those that have signed represent over 90% of global gross domestic product (GDP). A press release by the OECD calls the framework the result of “negotiations coordinated by the OECD for much of the last decade” and criticises the “century-old international tax system” for being “no longer fit for purpose”. The plan was backed by United States president Joe Biden according to multiple sources, and comes after a similar Group of Seven deal on international taxation agreed June 5.

The plan, officially the “OECD/G20 Inclusive Framework on Base Erosion and Profit Shifting”, adopts a pillared approach. An implementation plan will be finalised by October.

The first will force multinational enterprises (MNEs) with global turnover exceeding EUR20 billion and profitability above 10% to reallocate tax on over USD100 billion in profit from their home markets to each market jurisdiction it derived at least one million or 250 thousand euros from, depending on its GDP. An OECD statement confirmed the threshold for affected MNEs under pillar one may change to those exceeding ten billion euros in turnover, dependent on the results of a review to be conducted in seven years’ time.

The second pillar consists of two “Global anti-Base Erosion Rules” allocating top-up tax of a minimum of 15%, and one treaty-based “Subject to Tax Rule” to be made effective in 2023.

The effects of both pillars, though dependent on the final framework, is estimated by the OECD to increase global corporate tax (CIT) reserves between 1.9 and 3.2 per cent, or 50 and 80 billion USD. Taking into account the effect of both pillars and the existing US tax on global intangible low-taxed income introduced in 2017 under president Donald Trump, the growth of CIT reserves would be between 2.3 and 4 per cent, or 56 and 102 billion USD. This would also protect against tax avoidance practices which the OECD says costs countries between 100 and 240 billion USD in lost revenue per year, according to the AP.

However, the OECD also projects a “relatively small” negative effect on investment and activity equivalent to 0.1% of GDP in the medium- to long-term. Other concerns cited include the potential governments may lose the ability to use tax incentives for policy objectives and the cost of ensuring compliance.

Countries opposed include Hungary and Ireland who have, according to Politico, sought lower rates to attract foreign direct investment and have, in addition to Estonia according to the BBC, at least some corporate rates below the proposed floor of 15%. Ireland stands to lose over two billion euros in the next four years according to Raidió Teilifís Éireann (RTÉ).

The Irish and Hungarian headline corporate rates stand at 12.5 and 9 per cent, respectively, according to The Guardian.

OECD secretary general Mathias Cormann said in the press release “this historic package will ensure that large multinational companies pay their fair share of tax everywhere”, adding while it “does not eliminate tax competition […] it does set multilaterally agreed limitations”.

Biden said the deal means the world is in “striking distance of full global agreement to halt the race to the bottom”, which US treasury secretary Janet Yellen described as a race “no nation” has won, according to The Guardian. Finance minister for France Bruno Le Maire called it the “most important international tax agreement in a century”, according to the BBC.

According to RTÉ, finance minister for Ireland Paschal Donohoe said while he “expressed Ireland’s reservation”, he remains “committed to the process” and assures the global community “Ireland will continue to play our part in reaching a comprehensive and, indeed, historic agreement”. According to Reuters, on June 9, Hungarian prime minister Viktor Orbán called the proposal “absurd”, and insisted the country’s low rates “is not meant to attract certain companies to declare their taxes here”, nor makes it “a tax haven”.

Venice, Italy is to host G20 finance ministers and central bank governors at a “G20 High-Level Tax Symposium” on July 9, according to the Italian Ministry of Economy and Finance.

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