B207 TMA 2
IMF
190 Members
Crisis support
Policy advice
Tackling corruption
Money laundering
Tax avoidance
Balance of payments
Current account
imports/exports goods, services
Individual transfers
Large deficit can help short term
Long term can be destabilising
247 Words
Capital account
Records capital
International movement
Financial account
Records financial inflows
Liabilities to non-residents
Direct investments
Portfolio investments
Reserve assets
Financial capital held by monetary authorities
Multi national companies (MNC)
Positives
Negatives
Tax avoidance
Innovative products
Concentration of power
Influence of ploicy making
Higher costs
Force out small firms
Using tax havens
Improve consumer quality of life
Exploitation of economic areas
50 Words
10 Words
48 Words
26 Words
Gather greater user data
Transfer pricing
Arm's-length principle
Hard to implement
Taxation
Multi national companies
Ambiguous
Easily abused
Transfer mispricing
Tax avoidance
Subsidiary A (raw material)
Subsidiary B (processing) tax haven
Subsidiary C (final market)
Unitary taxation approach
Combined reporting
Political will required
fair treatment
Billions saved in tax recovery
Obstacles
Path dependancy
Vested interests
Technical issues
Resistance to change
Multinational interference
Development required
50 Words
Pixaby.com
Small to medium enterprises (SMEs)
Vulnerable to exchange rates
Exchange rate volatility
Market forces
Supply & demand
Strong/weak sterling
29 Words
Affects sale prices
Affects supply prices
Problematic
Traders need stability
World bank group
Promote shared prosperity
Extreme poverty eradication plan
International accounting standards board (IASB)
International financial reporting standards (IFRS)
Preparation of financial reporting
Over 100 contires
Improves quality
Improves comparability
Improves transparency
Facilitates business
Increases credibility
Improves access to credit
Improves investment opportunities
Simplifies financial reporting (MNC)
2 years to implement
Affects different areas of business.
47 Words