Friday, 19 December 2008

IPOD- Instils Innovation in Taxes Too

TIMESONLINE reports "The New York governor is asking for aimage   so-called “iPod tax” on downloaded music as one of 137 revenue-raising proposals to close the largest budget deficit in the state’s history. The proposed “iPod tax,” would tax the sale of downloaded music and other “digitally delivered entertainment services” by 4 percent, adding four cents to the cost of a 99-cent song for users whose iPod is registered to a New York address.

Haircuts, beer, cinema tickets, cigars, taxi rides, massages, and imagesugary soft drinks would also be targeted under the austerity budget aimed at closing the $15.4 billion shortfall caused by a collapse of tax revenues from Wall Street. Among them is an unprecedented 18% “obesity tax” on sugary soft drinks. The tax would cover fruit drinks with less than 70% fruit juice, as well as “-ades, punches and certain fruit nectars.” Diet soft drinks would be exempt. With one in four New York teenagers considered obese, the “obesity tax” aims to cut consumption of sugary drinks by five percent while raising $404 million in the next fiscal year. Also hit by new taxes under the package would be “personal services” such as massages, pedicures and health-club memberships."

I certainly agree that  IPOD is considered as one of most innovative product of recent times.I mean if it can inspire the government to introduce  "innovative taxes".... what else to say?

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