Revenue distribution in multinational firms through transfer pricing Distribución del ingreso en empresas multinacionales por medio de precios de transferencias

Abstract The objective of this paper is to analyze the procedures used by multinational enterprises to distribute the revenue generated by their subsidiaries abroad. Also, the paper intends to answer the question how multinational enterprises (MNES) allocate taxes paid on this income among the fiscal jurisdictions in which they operate. In this study, the analytic research method was applied, in the literature review, in order to determine how income-shifting works as a fiscal strategy applied by MNES. It is concluded that mnes use organizational strategies to take advantage of the comparative advantages from the different countries in which they operate, and, as a result, an intercompany trade takes place. Key words: Multinational firms, transfer pricing, income shifts. Resumen El objeto de este trabajo es analizar los procedimientos utilizados por empresas multinacionales (EMN) para distribuir el ingreso generado por sus filiales en el extranjero. También, el trabajo intenta contestar a la pregunta de cómo se distribuyen los impuestos pagados sobre estos ingresos entre las jurisdicciones fiscales, desde el punto de vista de las instituciones. Se aplicó el método analítico de investigación, en la revisión de la literatura disponible, para determinar las causas y los efectos de la distribución del ingreso como estrategia fiscal aplicada por las EMN. Se puede concluir que las emn utilizan estrategias 68 Economía, XXXVIII, 36 (julio-diciembre, 2013) José G. Vargas-Hernández, Deyanira Bernal Domínguez y Rubén Miranda López organizacionales para aprovechar las ventajas comparativas de los diferentes países en los que operan, resultando en el comercio intercompañía. Palabras clave: Empresas multinacionales, precios de transferencia, desplazamiento de ingresos

Synthesis and Effect of CaTiO3 formation in CaO·Al2O3 by Solid-State Reaction from CaCO3· Al2O3 and Ti

CaO⋅Al2O3/CaTiO3 material was synthesized by a solid-state reaction. The effects of CaTiO3 formed into the CaO⋅Al2O3 during the synthesized process on the microstructure and mechanical properties were studied. CaCO3 was obtained from snail shells, Al2O3, and Ti powders were employed as a raw material. A chemical system with a 1:1 M ratio between CaCO3 and Al2O3 was formed, with an addition of 10 wt% Ti metallic particles. The microstructural analysis through optical microscopy, scanning electron microscopy, and X-ray diffraction was realized. The apparent density was determined by the Archimedes method, and the mechanical behavior (hardness, fracture toughness, and transversal elastic modulus) were also determined. XRD analysis revealed the formation of calcium aluminate phases such as CaAl2O4, CaAl4O7, and CaAl12O19; in addition, the CaTiO3 phase was also identified. The in-situ formation of CaTiO3 in the ceramic material, improves the mechanical properties such as the transversal elastic modulus and fracture toughness (48 GPa and 1.32 MPa m1/2, respectively) in comparison to the reference material (55 GPa and 0.43 MPa m1/2, respectively). Changes in the microstructural morphology, bulk density, and hardness values were also observed with a positive effect in the compound material

Synthesis and Characterization of Zn-Ni x

Mechanical ball milling assisted by sintering in the solid state was used in this research to produce the Zn-Nix system alloy. The derivative powder compositions of Zn-Nix (x = 0, 5, 10, 15, and 20 wt.%) were obtained to study the Ni effects on the microstructural and mechanical properties. It is worth remarking that conventional methods are not appropriate for the manufacture of the Zn-Nix system alloy. The morphological structure and phases were examined by optical microscopy, X-ray diffraction, and SEM/EDS elemental mapping, whereas the mechanical behavior was accomplished by means of a diamond indentation print (Hardness Vickers). The results showed that the intermetallic γ-ZnNi phase did not form during milling time (<4 h); it appears after the sintering process, which is associated with atomic diffusion mechanism through grain boundary at the minimum interfacial energy (ΔG256°C = −13.83 kJ·mol−1). The powder Zn-Ni10 was found to have better properties. Semispherical coarser particles were seen into the metal matrix (Zn δ-hcp structure) as segregates; however, each particle contains an intermetallic compound Zn-Ni that encloses the Ni (α-fcc structure) pure phase. The Ni-α phase was then transformed into a γ-ZnNi intermetallic compound which shifts to higher values of mechanical hardness from about 60 HV to 400 HV units

Puerto Rican Karst - A Vital Resource

The limestone region of Puerto Rico covers about 27.5 percent of the island\u27s surface and is subdivided into the northern, southern, and dispersed limestone areas. All limestone areas have karst features. The karst belt is that part of the northern limestone with the most spectacular surficial karst landforms. It covers 142,544 ha or 65 percent of the northern limestone. The karst belt is the focus of this publication, although reference is made to all limestone regions. The northern limestone contains Puerto Rico\u27s most extensive freshwater aquifer, largest continuous expanse of mature forest, and largest coastal wetland, estuary, and underground cave systems. The karst belt is extremely diverse, and its multiple landforms, concentrated in such a small area, make it unique in the world. Puerto Rico\u27s karst forests whether dry, moist, or wet share common physiognomic and structural characteristics. Karst forests contain the largest reported number of tree species per unit area in Puerto Rico. Both fauna and flora are rich in taxa; and many rare, threatened, endangered, and migratory species find refuge in the karst belt. Almost all fossil records of Puerto Rico\u27s extinct flora and fauna come from the karst belt

Avances en el diagnóstico y tratamiento de las enfermedades alérgicas

199 páginas.Entre el 20% y el 25% de la población mundial sufre alguna enfermedad alérgica. Los nuevos avances en el campo de la alergología han permitido que se clasifiquen, diagnostiquen y traten mejor estas enfermedades, mejorando claramente la calidad de vida de todas aquellas personas que las padecen. Los médicos de atención primaria (médicos de familia y pediatras) suelen ser los encargados de atender en primera instancia al paciente alérgico, intentando instaurar un tratamiento que ayude a controlar su enfermedad, siendo necesaria la derivación al alergólogo cuando esto no es posible. Por ello es de vital importancia que el médico de atención primaria conozca todas las novedades diagnósticas y de tratamiento de las enfermedades alérgicas, para poder identificar cuáles son los pacientes que más se beneficiarían de un diagnóstico y tratamiento más preciso por parte del alergólogo. De igual modo, no hay que olvidar la importancia de establecer una estrategia integral, basada en la colaboración directa entre todos los profesionales sanitarios pueden estar implicados de una forma u otra en el manejo del paciente alérgico (médicos de familia, médicos de urgencias, dermatólogos, pediatras, neumólogos, etc.), lo que claramente redundará en una mejora sustancial de su salud

Tenacidad a la fractura de compuestos cermets 3Al2O3*2SiO2/Ag manufacturados por molienda de alta energía

La fabricación de materiales compuestos de matriz cerámica reforzados con partículas metálicas han propiciado la formación de nuevos materiales conocidos como compuestos CERMETS, materiales que debido a sus elementos precursores poseen propiedades distintas a las de los materiales convencionales. En este trabajo se establece la ruta de fabricación de materiales compuestos cermets base 3Al2O3*2SiO2 reforzados con partículas metálicas de Ag a partir de la formación de la composición química en peso de polvos de 3Al2O3*2SiO2 / 1% Ag en busca de un aumento en la tenacidad a la fractura con respecto al cerámico base. La composición química de polvos es sometida a un proceso de mezcla molienda de alta energía en seco en un molino tipo planetario por 2 horas a 200 rpm. Los polvos posteriormente son conformados en muestras cilíndricas de 20 mm de diámetro y 3 mm de espesor mediante la aplicación de carga uniaxial en frío de 200 MPa. Las muestras son sinterizadas a 1500°C y 1600°C por una y dos horas en un horno de resistencia eléctrica en atmósfera controlada de gas nitrógeno. Los compuestos fabricados son analizados microestructuralmente por microscopia óptica y electrónica de barrido. Se determina la densidad y las propiedades mecánicas de dureza y tenacidad a la fractura, las dos últimas por el método de indentación. Los resultados muestran la viabilidad de fabricación de materiales compuestos cermets así como los cambios en la densidad, la dureza y la tenacidad a la fractura, con respecto al cerámico 3Al2O3*2SiO2 sin refuerzo metálico

Incretins in patients with rheumatoid arthritis

Background: The precise mechanism linking systemic inflammation with insulin resistance (IR) in rheumatoid arthritis (RA) remains elusive. In the present study, we determined whether the incretin-insulin axis and incretin effect are disrupted in patients with RA and if they are related to the IR found in these patients. Methods: We conducted a cross-sectional study that encompassed 361 subjects without diabetes, 151 patients with RA, and 210 sex-matched control subjects. Insulin, C-peptide, glucagon-like peptide-1 (GLP-1), gastric inhibitory polypeptide (GIP), dipeptidyl peptidase 4 (DPP-4) soluble form, and IR indexes by homeostatic model assessment (HOMA2) were assessed. A multivariable analysis adjusted for IR-related factors was performed. Additionally, ten patients and ten control subjects underwent a 566-kcal meal test so that we could further study the postprandial differences of these molecules between patients and control subjects. Results: Insulin, C-peptide, and HOMA2-IR indexes were higher in patients than in control subjects. This was also the case for GLP-1 (0.49 ± 1.28 vs. 0.71 ± 0.22 ng/ml, p = 0.000) and GIP (0.37 ± 0.40 vs. 1.78 ± 0.51 ng/ml, p = 0.000). These differences remained significant after multivariable adjustment including glucocorticoid intake. Disease Activity Score in 28 joints with erythrocyte sedimentation rate (? coefficient 46, 95% CI 6?87, p = 0.026) and Clinical Disease Activity Index (? coefficient 7.74, 95% CI 1.29?14.20, p = 0.019) were associated with DPP-4 serum levels. GLP-1 positively correlated with ?-cell function (HOMA2 of ?-cell production calculated with C-peptide) in patients but not in control subjects (interaction p = 0.003). The meal test in patients with RA revealed a higher total and late response AUC for glucose response, a later maximal response of C-peptide, and a flatter curve in GIP response. Conclusions: The incretin-insulin axis, both during fasting and postprandial, is impaired in patients with RA.This work was supported by grants from the Spanish Ministry of Health, Subdirección General de Evaluación y Fomento de la Investigación, Plan Estatal de Investigación Científica y Técnica y de Innovación 2013–2016 Instituto de Salud Carlos III [ISCIII] PI14/00394) and by the Fondo Europeo de Desarrollo Regional (FEDER) (to IFA). The research of MAGG was supported by European Union FEDER funds and by the “Fondo de Investigación Sanitaria” (grants PI06/0024, PS09/00748, PI12/00060, and PI15/00525) of the Instituto de Salud Carlos III (ISCIII; Spanish Health Ministry). The research of MAGG was also partially supported by RETICS Programs RD12/0009 (RIER) and RD12/0009/0013 from the ISCIII (Spanish Health Ministry)

Proteome from patients with metabolic syndrome is regulated by quantity and quality of dietary lipids

Background: Metabolic syndrome is a multi-component disorder associated to a high risk of cardiovascular disease. Its etiology is the result of a complex interaction between genetic and environmental factors, including dietary habits. We aimed to identify the target proteins modulated by the long-term consumption of four diets differing in the quality and quantity of lipids in the whole proteome of peripheral blood mononuclear cells (PBMC). Results: A randomized, controlled trial conducted within the LIPGENE study assigned 24 MetS patients for 12 weeks each to 1 of 4 diets: a) high-saturated fatty acid (HSFA), b) high-monounsaturated fatty acid (HMUFA), c) low-fat, high-complex carbohydrate diets supplemented with placebo (LFHCC) and d) low-fat, high-complex carbohydrate diets supplemented with long chain (LC) n-3 polyunsaturated fatty acids (PUFA) (LFHCC n-3). We analyzed the changes induced in the proteome of both nuclear and cytoplasmic fractions of PBMC using 2-D proteomic analysis. Sixty-seven proteins were differentially expressed after the long-term consumption of the four diets. The HSFA diet induced the expression of proteins responding to oxidative stress, degradation of ubiquitinated proteins and DNA repair. However, HMUFA, LFHCC and LFHCC n-3 diets down-regulated pro-inflammatory and oxidative stress-related proteins and DNA repairing proteins. Conclusion: The long-term consumption of HSFA, compared to HMUFA, LFHCC and LFHCC n-3, seems to increase the cardiovascular disease (CVD) risk factors associated with metabolic syndrome, such as inflammation and oxidative stress, and seem lead to DNA damage as a consequence of high oxidative stress

Liver fibrosis secondary to bile duct injury: correlation of Smad7 with TGF-β and extracellular matrix proteins

<p>Abstract</p> <p>Background</p> <p>Liver fibrosis is the result of continuous liver injury stemming from different etiological factors. Bile duct injury induces an altered expression of TGF-β, which has an important role in liver fibrosis because this cytokine induces the expression of target genes such as collagens, PAI-1, TIMPs, and others that lead to extracellular matrix deposition. Smad7 is the principal inhibitor that regulates the target gene transcription of the TGF-β signaling. The aim of the study was to determine whether Smad7 mRNA expression correlates with the gene expression of <it>TGF-β, Col I</it>, <it>Col III</it>, <it>Col IV</it>, or <it>PAI-1 </it>in liver fibrosis secondary to bile duct injury (BDI).</p> <p>Results</p> <p>Serum TGF-β concentration was higher in BDI patients (39 296 pg/ml) than in liver donors (9008 pg/ml). Morphometric analysis of liver sections showed 41.85% of tissue contained fibrotic deposits in BDI patients. mRNA expression of Smad7, Col I, and PAI-1 was also significantly higher (<it>P </it>< 0.05) in patients with BDI than in controls. Smad7 mRNA expression correlated significantly with TGF-β concentration, Col I and Col III expression, and the amount of fibrosis.</p> <p>Conclusion</p> <p>We found augmented serum concentration of TGF-β and an increase in the percentage of fibrotic tissue in the liver of BDI patients. Contrary to expected results, the 6-fold increase in <it>Smad7 </it>expression did not inhibit the expression of <it>TGF-β, collagens</it>, and <it>PAI-1</it>. We also observed greater expression of Col I and Col III mRNA in BDI patients and significant correlations between their expression and TGF-β concentration and Smad7 mRNA expression.</p