Month: November 2016

Eagles, others troll N.F.L. social media policy

The Philadelphia Eagles tweaked the National Football League on Twitter this weekend, a reminder that business’ social media policies can create friction even at the highest level.

 

Under rules established earlier this month and approved by N.F.L. Commissioner Roger Goodell, league teams are not allowed to post videos they film inside their stadiums on Twitter, Facebook, or any other social media platform. That preclude teams from creating animated GIFs of exciting plays, a format that had frequently gone viral on social media.

 

In addition, teams are not allowed to create Facebook Live or Periscope streams that transmit live video to fans. Those options have become popular for other live television programs, with millions of people watching live streams of this year’s presidential debates.

 

The rationale for the policy is to give the N.F.L. full control over the content created in its stadiums at its games. They also want to encourage fans to visit team websites, which are controlled by the N.F.L., to view highlights of games.

 

Despite the league’s business case for the change, not all franchises appear to be on board with the new policy. This weekend, the Philadelphia Eagles shared a “flipbook” style animation of stylized football players after every major play.

 

The result was seemingly surreal – and almost clearly aimed at mocking the new policy. However, the Eagles weren’t willing to actually flout the rule – perhaps because of the high cost for violators.

 

According to ESPN, teams that violate the policy can face a $25,000 fine for a first offense. That figure would rise to $50,000 for subsequent violations.

 

New Zealand’s Tax Transparency Model

A recently published article describes New Zealand as a tax haven. However, Karen Marshall, an expert in foreign trusts debunks the claim stating that New Zealand does not have the characteristic of a tax haven. According to Karen Marshall, a tax haven inhibits the flow of tax information to other countries, only impose nominal taxes, and its taxation model lacks transparency. Furthermore, New Zealand has a highly transparent private banking industry; therefore, does not qualify as a tax haven.

The 2002 OECD Tax Model supports the flow of information across governments to help in administering local tax law. New Zealand ranked as the first country on the OECD’S white list for having complied with the international tax law. One way in which New Zealand embodies the principles of internationally agreed tax standards is by facilitating the exchange of tax information. Under the newly introduced tax rules in New Zealand, foreigners living in New Zealand are required to submit the IR607 form and maintain their financial records for taxation purpose. These records include trust’s assets and liabilities, trust deed, details of trust settlement, and the money received and spent by a trustee. Furthermore, if a trust operates a business, the trustee must disclose information about their accounting systems. Notably, all records must be registered in English to avoid hefty penalties.

Founded by Geoffrey Cone and Karen Marshall, Cone Marshall is a world-class tax and trusts law firm. Cone Marshall’s headquarters are located in Auckland. Cone Marshall abides by international tax and trust transparency standards and provides reliable tax and trust advice. Karen Marshall has over ten years of experience working as an advisor in the London’s Commercial Litigation department. On the other hand, Geoffrey Cone is a highly experienced global-scale trust and tax planner specializing in trust and trustee management services. Over the years, Cone Marshall collaborates with international agencies and their advisors in establishing New Zealand’s trusts and planning global tax models.

In an article posted on Twitter and Facebook in 2012, Cone Marshall discredited the claim that New Zealand resembles a tax haven and that its private banking sector was highly secretive. He stated that New Zealand subscribes to the doctrines embodied in the internationally agreed tax model. He also noted that New Zealand’s foreign trusts had increased significantly. The increase is attributed to the country’s political stability, a well-structured judicial system, and safety. New Zealand’s excellent status as a safe place for one’s precious items leads to the increase of foreign trusts.

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