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The Automated Payment Transaction (APT) tax is a small, uniform tax on all economic transactions, which would involve simplification, base broadening, reductions in marginal tax rates, the elimination of tax and information returns and the automatic collection of tax revenues at the payment source.
[5] [6] Since all transactions must ultimately be paid for by a final means of payment, namely via a transfer from a bank account or by settlement with currency, Feige proposed collecting his tax by levying the tax automatically on the debit and credit entries to bank accounts, thereby splitting the tax between the buyer and seller of every ...
[1] [2] A payment system is an operational network which links bank accounts and provides for monetary exchange using bank deposits. [3] Some payment systems also include credit mechanisms, which are essentially a different aspect of payment. Payment systems are used in lieu of tendering cash in domestic and international transactions. This ...
A weak payment system may severely drag on the stability and developmental capacity of a national economy; its failures can result in inefficient use of financial resources, inequitable risk-sharing among agents, actual losses for participants, and loss of confidence in the financial system and in the very use of money.
Automatic item generation (AIG), or automated item generation, is a process linking psychometrics with computer programming. It uses a computer algorithm to automatically create test items that are the basic building blocks of a psychological test .
Currently, CBTI programs fall into one of two categories: actuarial assessment programs or automated assessment programs. Actuarial assessment programs are based on statistical or actuarial prediction (e.g., statistical analyses, linear regression equations and Bayesian rules), which is empirically based while automated assessment programs consist of a series of if-then statements derived by ...
Transaction banking can be defined as the set of instruments and services that a bank offers to trading partners to financially support their reciprocal exchanges of goods (e.g., trade), monetary flows (e.g., cash), or commercial papers (e.g., exchanges).
In the United States, the ACH Network is the national automated clearing house (ACH) for electronic funds transfers established in the 1960s and 1970s. It is a financial utility owned by US banks, and is one of the largest payments networks in the United States, both by volume and by customer reach; virtually every bank account in the US, whether personal or commercial, is connected to the ...