Alternative remittance systems

Harnessing the Remittance Boom

SR VI. Alternative remittance

Alternative informal remittance systems

There are different approaches to the problem, particularly between remittance source States and remittance receiving States.

The impact of remittance income on household well being depends on who controls remittance income and how it is spent.

E. Alternative informal remittance systems

There are no alternate remittance systems.

Remittance income formed a big part of Yemen s budget.

(c) In order to address the concerns of remittance receiving States, registered alternative remittance systems should be obliged to settle balances through normal banking channels

The remittance flow continues to be buoyant.

Furthermore, remittance levels are double those of official development assistance (ODA).

The remittance system of Hawala does not obtain in this jurisdiction.

Of that amount, 112,000 derives from import taxes , 308,000 from export taxes and 57,000 from berth taxes .

Has this name been circulated to alternative remittance systems?

alternative remittance systems are difficult to licence or to supervise.

Policies and projects that facilitated the development impact of remittances must be analysed. As half of remittance senders and the majority of remittance recipients, women were playing a central role in managing and distributing such income.

Evasion of excise taxes is more contagious than evasion of taxes on profits and incomes.

Reimbursement of national taxes

One State has recorded some success in encouraging the voluntary registration of alternative remittance systems.

Smart Taxes

Table 3 Private remittance flows to Africa, 1998 2003 (In billions of United States dollars)a

Hurdles in converting informal remittance systems to formal systems through registration or licensing

8 This covers residency in Jerusalem, income taxes, social services, and infrastructure, sewage and water taxes, as well as TV and radio taxes.

Collections of direct taxes also suffer.

Taxes are raised.

Saved by Taxes

2320 Excise taxes

Taxes and tipping

Exemption from taxes

Exemption from taxes

The regulatory authorities of some States have initiated programmes to detect unregistered or unlicensed alternative remittance activity.

The Team makes no distinction between alternative and informal remittance systems for the purposes of this report.

Other countries, however, have taken steps to make remittance transfers possible via mobile phones.

(q) Issues related to the informal and cash based economy, including alternative remittance systems

Taxes generally have little redistributive effect, because most countries rely heavily on indirect taxes.

(d) African authorities should view capital and remittance flows as an important part of their national economic statistics.

Alternative remittance systems are known by many terms, but all share the same operational characteristics.

Death and Tobacco Taxes

Germany can cut taxes.

Residents don t pay taxes.

2310 General sales taxes

Excise taxes account for over 60 of India's indirect taxes, which in turn represent the same proportion of its total tax receipts.

Property taxes, excise taxes, import duties, and sales taxes all of which are paid, directly or indirectly, by corporations can have a magnified impact on corporate profits, and hence on the stock market.

Energy and carbon taxes can produce less economic pain and more gain than conventional taxes can.