Large multinational companies (MNCs) were designed originally to be priced in only one stock market, namely that of the headquarters country. With financial signals coming from many national capital markets in which they operate, financial managers of MNCs have difficulty in making financial...

Australia has a progressive personal income tax schedule with a seemingly simple five rate structure (including a zero rate). Overlaying the statutory tax schedule are more than 40 offsets designed to reduce tax liability for certain taxpayers. These offsets add complexity to the tax system and...