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Showing posts from September 1, 2014

U.S. Hikes Fee To Renounce Citizenship By 422%

Over the last two years, the U.S. has had a spike in expatriations. It isn’t exactly Ellis Island in reverse, but it’s more than a dribble. 

With global tax reporting and FATCA, the list of the individuals who renounced is up. For 2013, there was a 221% increase, with record numbers of Americans renouncing

The Treasury Department is required to publish a quarterly list, but these numbers are under-stated, some say considerably.

The presence or absence of tax motivation is no longer relevant, but that could change. After Facebook co-founder Eduardo Saverin departed for Singapore, Senators Chuck Schumer and Bob Casey introduced a bill to double the exit tax to 30% for anyone leaving the U.S. for tax reasons. That hasn’t happened, but taxes are still a big issue for many.

U.S. flag (Photo credit: Wikipedia)

To leave America, you generally must prove 5 years of U.S. tax compliance.

 If you have a net worth greater than $2 million or average annual net income tax for the 5 previous years of $1…

Brazil Mango Season Kicks off as Mexico winds down

Brazil Mango Crop Information

• The Brazilian season will begin in August and will run until mid-November with a projection of approximately 5.8 million boxes.

• Brazil’s main varieties are Tommy Atkins (85%), Palmer (10%), Ataulfo (5%)

Volume shipped on week ending 8/23/2014

• Volume shipped from Brazil was approximately 257,022 boxes for a total of 719,724 boxes.

• Compared to the same week last year, volume shipped from Brazil was approximately

316,088 boxes for a total 814,968 boxes in 2013.

Ecuador hopes international event will help enhance mango industry

September 1st, 2014

Ecuador’s mango industry is planning a push to boost the country’s competitiveness by uniting the sector’s production chain and educating growers on best farming practices. 

Over the last 18 months, Ecuador has exported some US$68 million worth of the fruit. However, an industry representative has said the sector needs to organize the way it operates in order to improve.

Mango Ecuador Foundation executive director Johnny Jara although the industry was performing well, there were still certain areas it needed to work on to ramp up international trade.

A starting place will be the 5th International Mango Symposium, which is to be held in the country in early September and attended by important players from the global industry, as well as the Ecuadorian Agricultural Minister Javier Ponce.

“Part of our role is to educate, and what better way to do that than through these international events that we do every two years. Several experts with excel…

STEPHEN ROACH: The Current Speed Of Global Growth Comes With A Major Problem



Stephen Roach

The world economy is growing, but not by much.

"Collectively, the annual growth rate in the major developed economies averaged a little less than 0.7% in the first half of 2014,"
writes economist Stephen Roach in a new piece for Project Syndicate.

 "America’s paltry 1% growth led the way, while Japan and Europe, whose combined GDP is roughly equal to that of the US in purchasing-power-parity terms, recorded no better than a 0.3% increase."

Sure, any amount of growth is better than no growth.

However, we're certainly more vulnerable than we could be. 

Here's Roach (emphasis added):
But there is another problem with persistently subpar growth: It provides no cushion to shield economies from unexpected blows. That is especially true when growth falls below 1%, leaving a thin margin between expansion and contraction. Such sluggish performance is the economic equivalent of “stall speed” – the heightened vulnerability that aircraft…