Dropouts in magnetic tape recording and reproduction

Judicious selection and maintenance of tape and tape transports minimizes dropouts

The redistributive character of taxes and social security contributions

The article aims to explain the redistributive character of taxes and social security contributions in Belgium, and to demonstrate the mechanisms behind that redistribution. Compared to the other EU-15 countries, Belgium has less primary income inequality. Moreover, there is a relatively high degree of redistribution in Belgium, so that – after taxes, social benefits and social security contributions – the disparities are among the smallest in Europe. As in other countries, this income redistribution is effected primarily via social benefits. However, redistribution via taxation on income also plays a very important role. The most strongly redistributive tax in Belgium is personal income tax, which is highly progressive. That is due principally to the structure of the tax scales and the amount of the tax allowance, and to the reduction in taxes on replacement incomes. The influence of social security contributions on the redistribution of income is relatively slight, although it is greater than in the majority of the EU-15 countries. VAT, which accounts for the bulk of indirect taxes, is slightly progressive in relation to expenditure, owing to the rate structure whereby the reduced rate and the zero rate apply to goods and services which are consumed to a proportionally greater extent by low-income households. Conversely, in relation to disposable income, VAT is degressive. That is because the savings ratio increases with each income decile. Excise duties are degressive, in relation to both household spending and household income. This study also illustrates the fact that tax measures are seldom neutral in their effect on income redistribution. However, this effect is clearly dependent on the practical aspects of this type of measures. The personal income tax reform approved in 2001 and the introduction of the work bonus increased the progressive effect of the compulsory levies on earned income and reduced the average rate of the levy. While the impact of increases in excise duties on fuel is more mixed in terms of redistribution, the recent increases in excise duty on tobacco have accentuated their degressive character.taxes and social contributions, income distribution, redistributive effects

Recent trends in corporate income tax

The article describes the recent international developments regarding the corporate income tax and the way in which the Belgian government is trying to respond. For this purpose, it begins by discussing the various indicators which measure the tax burden on corporate profits. Next, it illustrates the trend towards declining statutory corporate tax rates throughout Europe in the last two decades. It is highly likely that the downward trend in nominal rates will persist in the near future. But these nominal rate cuts seem to have been accompanied by an at least equivalent expansion of the tax base, so that government revenues generated by the corporate income tax have actually increased overall. Belgium is following the international trend towards lower nominal rates and a wider tax base. The corporate income tax reform which took effect on 1 January 2003 aimed to eliminate the difference between the Belgian nominal rate and the EU-15 average. The most recent reform introduced the venture capital allowance from the 2007 tax year. This innovative measure reduces the discrimination between the tax treatment of equity capital and borrowings. The differential between the Belgian rate and the EU average has however since 2003 widened again to around 4 to 5 percentages points and will – in the absence of new measures – probably continue to increase in the near future. Finally, the article focuses on the European coordination of corporate income tax. The existence of twenty-seven different corporate income tax systems in the EU entails substantial cost for multinationals. At the same time, there is the fear that tax competition may erode the tax proceeds. Both the EC and a number of committees of experts have therefore published reports in the recent decades, proposing a high degree of corporate income tax harmonisation. So far, these initiatives have not succeeded. More specific initiatives, such as directives aiming to abolish tax distortions in the case of cross-border activities and measures to combat harmful competition have been more successful. The EC is now concentrating on achieving a common consolidated tax base for multinationals.corporate tax, tax competition, EU tax coordination

Design and operation of a protection system for transformers with superconducting windings

Power transformers with superconducting windings need a protection system to prevent damage to the low-loss superconducting winding by an abnormally high current. The generally accepted protection technique which uses auxiliary coils has been analysed using a network representation. The current distribution between main and auxiliary coil is expressed in terms of geometrical parameters. Experimental data on current transfer and main coil recovery in a test transformer are presented and a method of obtaining a very low auxiliary coil current is suggested

Phase behavior and interfacial properties of nonadditive mixtures of Onsager rods

Within a second virial theory, we study bulk phase diagrams as well as the free planar isotropic-nematic interface of binary mixtures of nonadditive thin and thick hard rods. For species of the same type the excluded volume is determined only by the dimensions of the particles, whereas for dissimilar ones it is taken to be larger or smaller than that, giving rise to a nonadditivity that can be positive or negative. We argue that such a nonadditivity can result from modelling of soft interactions as effective hard-core interactions. The nonadditivity enhances or reduces the fractionation at isotropic-nematic ($IN$) coexistence and may induce or suppress a demixing of the high-density nematic phase into two nematic phases of different composition ($N_1$ and $N_2$), depending on whether the nonadditivity is positive or negative. The interfacial tension between co-existing isotropic and nematic phases show an increase with increasing fractionation at the $IN$ interface, and complete wetting of the $IN_2$ interface by the $N_1$ phase upon approach of the triple point coexistence. In all explored cases bulk and interfacial properties of the nonadditive mixtures exhibit a striking and quite unexpected similarity with the properties of additive mixtures of different diameter ratio.Comment: 12 pages, revised version, submitted to JC

Macroeconomic and fiscal impact of the risk capital allowance

The study, produced in response to a request made by the federal government, examines the economic impact of the risk capital allowance. More particularly, it assesses the extent to which the objectives of the law of 22 June 2005 introducing an allowance for risk capital in the Belgian corporation tax system have been achieved. The study gives a brief presentation of the measures introduced by this law. It analyses the influence of these measures on the financial structure of corporations, their effect on the Belgian coordination centres – whose beneficial tax regime will soon be abolished – and their macroeconomic impact particularly investment and employment. Their budgetary implications on the basis of both macroeconomic and microeconomic data is then examined.corporation tax in Belgium, tax allowance, risk capital, coordination centres