While talking about the grand success and increasing demand of ‘ Neutral Table Advantages’ internationally, President of ITIC Daniel Witt in a press conference organized in its corporate headquarters, Washington DC states that for a research, advisory and education group the sensation of this ‘attainment’ is truly fantastic and encouraging. As versed by the industry veteran knowledgeable executive that the concept is basically an end-product of years of research, studies and analysis that helped the community to bring forth a solution base which can be proved effectively beneficial to a country’s economical health, if used properly, effectively and as per the guidelines.
The well known personality of Corporate America is extremely thankful for the great support that ITIC has been received from the global bodies including International Monitory Fund, World Bank or Organization for Economic Cooperation and Development and all sponsors for its enterprise. It is, at the same time, he conveys his gratefulness to member countries, the public sector authorities and private enterprises for offering the opportunity to ITICnet.org for implementing its strategic systems backed by the reformation of tax structures and policies. According to Daniel that the solutions offered by ITIC has now been proved to bring real change in overall economy, boost investment possibilities and improve the living standard of the mass.
Incidentally, the foremost employment of the deliverables found out of the mechanism had been initiated on trial basis in Russia and thereafter in Kazakhstan in 1990s. This experiment was convened on the long discussed and industry buzz issue, concerning Value Added Tax (VAT). Most interestingly, Value Added Tax which was rather a ‘puzzle’ concern for prolonged period has been established as a great measure to discourage illegitimate business practices and raise governmental revenue. It has been also noted that the successful implementation of VAT in a series of 3rd World countries and its significant benefits like increase of government income has also inspired numerous well developed European countries.
The approach and ideology of ‘Neutral Table’ originated by ITIC.org has been well accepted and greatly appreciated by the entire corporate business world. The process of this solution reaching table introduced by the American advisory group is simple, consistent and realistic in globalized business era. While the machinery is simply great to depress ill business practices, the scheme has the ability to drag out the optimum benefits of open trade. Since the first trial made, in last 20+ years, the Washington Company has worked with a number of nations for reformation of their existing tax structures and policies.
Having been equipped with a team of highly knowledgeable reviewers, analysts, economists, practitioners from commercial tax and excise field and great consultants ITICnet.org has effectively discovered solutions and has trained the professionals like tax commissioners, administrators, chief excise officials and their administrative people for effective implementation of new policies and measures. Some of these countries include Albania, Armenia, Botswana, Ethiopia Czech Republic, Kenya, Ghana, Uganda, Georgia, Zimbabwe and Kazakhstan. The nations including Poland, Swaziland, Turkey, Moldova, Slovakia, Serbia, Belarus and more are also in the list and this number is increasing at faster pace.
