Annual profits

MTCC announces 21% increase in annual profits in 2021

Maldives Transport and Contracting Company (MTCC) reports an increase in the company’s after-tax profit of 21% in 2021. According to the state-owned company, the notable increase in after-tax profit is directly due to improved activities in the construction and dredging segments of the company. Despite recording an annual improvement in after-tax profit in 2021 compared […]

Corporate profits

New report compares company profits with worker wages during COVID

Paul Constant is a writer at Civic Ventures and co-host of “Fork Economy” podcast. He spoke with the author of a new 2020-21 earnings report from 22 major companies like Lowe’s. Workers’ wages increased by $27 million in 2021, but those same companies bought back $800 million in stock. Loading Something is loading. In August […]

Income tax

New Ohio Bill Would Kill State Income Tax

Ohio House 80th District candidate Steve Huffman, 2014 Ohio House 80th District candidate Steve Huffman, 2014 Named after economist Arthur Laffer, its namesake “curve” postulates an “optimal” tax rate that maximizes tax revenue. In fiscal 2020, Ohio’s personal income taxes generated nearly $8.3 billion, less than the state’s sales and use taxes, which generated $10. […]

Corporate profits

Opinion: Augusta puts corporate profits before our privacy

A major privacy bill went quietly into that good night last week (the “dead file,” as we call it in the legislature). But a good dying bill isn’t news in itself in Augusta. It happens all the time. What is remarkable is that a bill with this level of opposition paid for by powerful corporate […]

Income tax

Mayor Barlow proposes disability, limited income tax exemption and increase for seniors exemption – Oswego County Today

Mayor Billy Barlow OSWEGO – Oswego Mayor Billy Barlow today announced a proposal to introduce a new tax exemption for people with disabilities on limited incomes in the City of Oswego. If approved, the exemption would provide tax relief to eligible persons with disabilities under the property tax law on a sliding scale with incomes […]

Income tax

💸 Income Tax Refund + OBJ House + Boxer Sentence Commutation

Can Ohio afford to give you back your income tax money? You must have plenty of cheddar, $3.3 million to be exact, to afford the old Odell Beckham Jr. digs in northeast Ohio. These are just two of our titles to watch today. ☔ Weather: A cold shower in the morning on a cold day. […]

Foreign investments

Increased foreign investment in the Indian gaming market.

From: John Braham There has been an increase in gambling activities in India since 2016. This has resulted in the growth of the gambling industry in India. This growth is the result of many factors including the fact that there are many internet users in India and the widespread adoption of digital payment methods in […]

Income tax

Income tax hurdle now stands in the way of high-speed train project

Riddled with ongoing delays, the prestigious high-speed rail project faces another hurdle: income tax. The Japanese side, which is a partner in the project, has warned of “inevitable delays” if its multiple petitions seeking exemption from income tax provisions for its consultants engaged in the design aspects of the train project at Mumbai Ahmedabad High […]

Corporate profits

When You Talk About Inflation, Definitely Talk About Corporate Earnings

Here’s what it looks like: And, notes Bivens, these data mean that the traditional explanations for inflation that many economists are now offering should be taken with several grains of salt. “The historically high profit margins of the economic recovery after the pandemic rest very uncomfortable with explanations of recent inflation based solely on macroeconomic […]

Income tax

Oman set to introduce personal income tax

After two years of suspense, the Gulf state of Oman could pull the trigger next year. “Income tax is still on track,” a source with the Sultanate’s National Balanced Budget Program told Al-Monitor on condition of anonymity. “We have just finished drafting the law and are making operational preparations. We expect personal income tax to […]

Annual profits

Tesla is shifting into high gear and is on track to double its annual profits

After the shock of Netflix (NASDAQ:) subscriber failure earlier this week, many Nasdaq stocks were crushed yesterday, with Tesla (NASDAQ:) ending the day down nearly 5% on fears that Last night’s first quarter earnings did not disappoint. That turned out not to be the case with $18.76 billion, up 81% and nearly $1 billion above […]

Annual profits

Tesla shifts into high gear, on track to double annual profits

JEsla’s share price jumped 2.5% in after-hours trading in New York yesterday as the company announced after markets closed that first-quarter revenue was $18.76 billion, beating expectations of $17.80 billion. Earnings per share also beat expectations, coming in at $3.22 versus estimates of $2.27. Tesla stock price up as first-quarter results defy expectations Tesla’s first […]

Income tax

Eliminate state income tax, temporary sales tax

Editor’s Note: Below is a guest column submitted to USA Today Network Louisiana newspapers by Louisiana House Republican Caucus Chairman Blake Miguez of Erath. Just like the weather in the Bayou State, the state of Louisiana’s finances can change very quickly. Since my election to the legislature in 2015, I have experienced numerous state budget […]

Corporate profits

Minnesota grapples with inflation Report blames corporate profits / Public News Service

The greater share taken from Minnesotans’ paychecks by rising consumer costs is being seen in several ways — including the opportunity for corporate profit. A new report from the Groundwork Collaborative said companies are taking advantage of the pandemic to drive up the costs of products such as prescription drugs, groceries and diapers. The authors […]

Corporate profits

Corporate profits rise amid inflation as some Democrats cry foul

As consumers feel the pinch of inflation, corporate profits are at all-time highs, bolstering Democratic arguments that big business is ripping off consumers and making inflation worse. Inflation has become a major headwind for Democrats ahead of this fall’s midterm elections, as the party risks losing its narrow House and Senate majorities. Rising prices have […]

Income tax

Evers campaign: TAX DAY: Wisconsin residents see their income tax reduced thanks to Governor Tony Evers

MADISON, Wis. – Today is tax day, and this year Wisconsinans are keeping more of their money thanks to Governor Tony Evers. During his first term, 86% of Wisconsin taxpayers receive an income tax reduction of 15% or more. Globally, 2.4 million Wisconsin taxpayers to get relief. Last year Governor Evers signed the first bipartisan […]

Corporate profits

It’s time to tax excessive corporate profits

Senator Bernie Sanders recently introduced the Ending Corporate Greed Act. the law would impose a 95% tax rate on the excess profits of large corporations that earn more than $500 million a year. Excess earnings are defined as earnings that exceed the company’s average earnings level from 2015 to 2019, adjusted for inflation. This excess […]

Corporate profits

War, inflation set to weigh on corporate earnings despite rising revenues

America’s biggest companies are expected to show slowing earnings growth when they release their first-quarter results in the coming weeks, with soaring inflation and the war in Ukraine weighing on profits. Earnings announcements from companies listed on the S&P 500 index are expected to accelerate over the next two weeks, with groups accounting for 70% […]

Foreign investments

Egypt wants to attract foreign investment in green hydrogen projects, says PM Madbouly – Energy – Business

Prime Minister Mostafa Madbouly.(Photo:Al-Ahram) At a meeting on Sunday, Madbouly said the country’s efforts include introducing additional incentives for investors and updating Egypt’s energy strategy to include green hydrogen. The meeting brought together Minister of Electricity Mohamed Shaker, Minister of Planning and Economic Development Hala El-Said, Chairman of the Suez Canal Economic Zone (SCZone) Yehia […]

Income tax

Know the income tax rules on cashing out leave during service or job change

Generally, all employees are eligible for a certain amount of paid time off each year. Paid time off is an integral part of the incentives offered by employers to join this company. The income tax laws grant an exemption for the cashing of these paid holidays in part or in full. Let’s discuss in detail. […]

Foreign investments

Romanian Finance Minister hopes foreign investment will be relocated from Russia, Ukraine and Belarus

Romanian finance minister Adrian Caciu and Prime Minister Nicolae Ciuca discussed Thursday, April 14 with the World Bank Group delegation to Romania, led by President David R. Malpass, the need to develop a bilateral partnership, in the context of the economic and social challenges posed by the crisis in Ukraine. “We are analyzing with great […]

Foreign investments

Nigeria’s banking sector attracts $15.7 billion in foreign investment in 5 years

The Nigerian banking sector is one of the viable destinations for foreign investors in the country, as it has attracted over $15.7 billion in foreign investment in the last 5 years, representing one of the sectors most attractive in the Nigerian economy. This is based on an analysis carried out by Nairalytics, the research arm […]

Income tax

Raise Income Tax Levels for Wealthy Ugandans – Tax Auditor’s Report

The latest tax auditor’s report proposed that the government introduce new tax brackets for Ugandans earning higher incomes to ensure a fair and inclusive tax system. Speaking at the launch of the Third Fair Tax Monitor 2021 report in Kampala on Wednesday, Daniel Lukwago of Oxfam described some of the recommendations as necessary due to […]

Foreign investments

The business climate will remain fragile; but foreign investment will surge – Fitch Solutions

The business climate will remain fragile in the coming months, while private consumption is expected to slow this year, largely due to the planned implementation of the 1.5% tax on electronic transfers (E-levy) , revealed Fitch Solutions in its latest Sub-Saharan Africa update. . According to the research arm of ratings agency Fitch, Ghana’s Purchasing […]

Corporate profits

Store credit cards drive corporate profits and disgruntled workers

Clothing retailers sell more to their buyers than jeans and sweaters. Large clothing companies also sell credit, often with very high fees, such as The holes Starting interest rate of 21.7% and late payment fee of 27-37 USD. In 2019, Macy’s store credit card revenue of $771 million accounted for more than half of Macy’s […]

Annual profits

Tesco sees annual profits soar but warns of soaring inflation

J esco revealed that annual profits have more than tripled, but warned that retail profits will be under pressure this year due to soaring inflation and shoppers returning to their buying habits. before the pandemic. The supermarket giant saw the group’s pre-tax profits climb to £2.03bn in the year to February 26, from £636m the […]

Annual profits

Tesco’s annual profits jump but warn of tougher outlook this year

UK retailer Tesco posted a sharp rise in annual earnings on Wednesday, but warned that current-year earnings could fall as inflationary pressures begin to hit consumers. The company said adjusted operating profit rose 35.8% to £2.65bn in the year to February 26. On a pre-tax basis, it had risen 219% to £2bn. Total group sales […]

Income tax

Deadline for filing personal income tax returns is April 18, with some extensions granted due to tornadoes

FRANKFORT, Ky. (WBKO) – The Kentucky Department of Revenue (DOR) reminds taxpayers that the 2021 personal income tax filing deadline arrives on Monday, April 18, 2022. The April 18 deadline of this year gives Kentucky taxpayers a few extra days to file their tax returns due to the Emancipation Holiday in Washington DC on Friday, […]

Foreign investments

Adani Group shares rise after $2 billion in foreign investment

New Delhi: Shares of Adani Green Energy, Adani Transmission and Adani Enterprises surged on Monday in an otherwise broader market. Shares of Adani Green Energy were stuck in the upper 20%, Adani Transmission locked in the upper 10% and Adani Enterprises rose 0.4%. Analysts attribute the rise in share prices to International Holding Company PJSC […]

Foreign investments

Possible claims against Russia for expropriation of foreign investments

On April 8, 2022, a bill was introduced in the Russian Duma (Parliament) that would allow Russia to expropriate the property of foreign nationals from “unfriendly” countries – those that have imposed sanctions on Russian entities and individuals.1 This news follows a bill presented the day before that would impose criminal penalties for the implementation […]

Foreign investments

The massive loss of foreign investment – ​​The Sun Nigeria

A new report from the National Bureau of Statistics (NBS) has shown that Nigeria managed to generate $698.7 million in Foreign Direct Investment (FDI) in 2021. This is the lowest in 10 years and a clear indication the economy is heading in the wrong direction. . The NBS report is also backed up by a […]

Income tax

Everything you need to know about income tax e-notices

Since the advent of technology, most communications from the Income Tax (IT) department to an assessee are delivered to their registered email address. The Delhi High Court at Venad Properties Pvt. ltd. v. Commissioner of Income Tax (2013) 212 Taxman 20, held that the object and purpose of the notice is to inform and inform […]

Income tax

Avon seeks increased income tax to develop park land – Morning Journal

The City of Avon is seeking to raise its income tax rate to raise about $2 million a year for 10 years to purchase land for its park system. The proposed income tax increase will be on the ballot in the May 3 primary election. If voters approve the measure, the funds raised from the […]

Income tax

Amalgamating corporation’s income tax assessment when not erroneous

The Supreme Court has ruled that the question of whether the corporate death of an entity during a merger per se invalidates an assessment order, generally cannot be determined on the simple application of section 481 of the Act. on the 1956 corporations, but would depend on the terms of the merger and the facts […]

Foreign investments

Maltese General Election 2022 and Impact on Foreign Investment – Inward/Foreign Investment

To print this article, all you need to do is be registered or log in to Mondaq.com. In this article you will find more information on one of the most significant events of the month, the elections in Malta. But also, an interesting topic that we have written about is the impact of these elections […]

Corporate profits

Is inflation finally biting into corporate profits?

Since inflation started exploding last year, America’s big corporations have found a simple way to keep making record profits: pass all those price hikes with their customers. But the formula may be showing signs of reaching its limit, adding drama to the upcoming earnings season. CEOs are lining up to tell investors in the coming […]

Corporate profits

Reviews | The Democrats’ Flawed Hate Affair With Corporate Profits and Stock Buybacks

Placeholder while loading article actions Democrats are in a hate business with corporate profits and stock buybacks. And their misguided obsession just might keep oil and gasoline prices upper than they would otherwise. You’ve probably heard of ‘share buybacks’ lately, the term for when a public company buys back shares of its own shares on […]

Income tax

State income tax plan for $300 homeowners advances amid wide debate

On Wednesday, the Democratic-dominated General Assembly Finance, Revenue, and Liability Committee crafted a set of budget proposals, including an election-year extension of the Connecticut property tax credit that, since 2017, is limited to seniors and families with dependents. Minority Republicans have failed in their efforts to increase credit beyond Gov. Ned Lamont’s proposed $300 credit […]

Annual profits

Record annual profits for Lookers

The Lookers Mercedes-Benz dealership in Wolverhampton The group, which has sites in the Black Country, Shropshire and Staffordshire, saw its underlying pre-tax profit rise from £13.7m in 2020 to £90.1m, mainly thanks to margins on used vehicles. Revenue also increased by 9%, from £3.69 billion to £4.05 billion. Managing Director Mark Raban said: “2021 has […]

Corporate profits

US corporate profits jump 25%, reports Federal Reserve

(NewsNation) – The Federal Reserve reports that US corporate profits jumped 25%, the largest annual increase in nearly 50 years. Some lawmakers accuse companies of using the pandemic and supply chain issues as excuses to raise prices. Now lawmakers can take steps to regulate potential corporate abuses. Food banks struggle to overcome inflation and supply […]

Foreign investments

Heavy criticism for Buhari’s FG as 24 states record no foreign investment – ​​SundiataPost

•President Muhammadu Buhari ABUJA – The Catholic Bishops’ Conference of Nigeria, the Sultan of Sokoto, Alhaji Abubakar Sa’ad lll-led Jamaatul Nasril Islam, some state governments and the Manufacturers Association of Nigeria have criticized the federal government for its failure to respond the rise of insecurity in the country. The groups said so on Monday as […]

Income tax

No income tax? No thanks.

When I moved to Connecticut in 1986, my new boss assured me that while I wouldn’t get rich on my paycheck, the state didn’t have a personal income tax, so that meant a little extra money in my pocket. I thought I had heard her wrong. I was from Kansas, where state income tax had […]

Corporate profits

Project takeover boosts earnings for Kuwaiti companies

Companies listed on the Kuwait Stock Exchange more than tripled their net profits in 2021 following the recovery of the national economy and project activity, a local newspaper reported. Except for companies in the hydrocarbon sector, listed companies saw a 270% increase in net profit after the OPEC member eased curbs associated with the spread […]

Foreign investments

24 states attracted no foreign investment in 2021 – NBS

Apr 05 (THEWILL) – The National Bureau of Statistics (NBS) has revealed that foreign investors ignored 24 states as the value of capital imports into Nigeria fell 30.78% to $6.7 billion in 2021 , compared to $9.68 billion in 2020. This is contained in the Nigerian Capital Import report for the four quarters of 2021. […]

Foreign investments

Kaduna, Enugu… 24 states attracted no foreign investment in 2021

Foreign investors ignored 24 states as the value of capital imports into Nigeria fell 30.78% to $6.7 billion in 2021 from $9.68 billion in 2020. The National Bureau of Statistics (SNB) revealed this in its latest report on Nigerian capital imports for the four quarters of 2021. The report examined the value of new investments […]

Foreign investments

Foreign Investments in Russia at Risk: How Investment Arbitration Can Offer Protection

Russian actions in Ukraine have resulted in far-reaching sanctions by a number of jurisdictions, including the United Kingdom, United States, European Union, Canada and Japan. In response, Russia is issuing anti-sanctions measures that target foreign companies from these jurisdictions. These government measures include, for example: the nationalization of the assets of foreign investors (draft approved […]

Income tax

10 new tax rules in effect this month

With the start of the new fiscal year, there are several changes regarding the income tax rules that are due to take effect on April 1, 2022. Let’s take a look at the new income tax rules that have introduced for this exercise: 1) Interest earned on the employee’s contribution to the Provident Fund (PF) […]

Income tax

Biden’s billionaire income tax has a lesson for India

At a time when socialism for business is the reigning mantra, US President Joe Biden has shown tremendous political courage to ensure that billionaires pay their fair share of taxes. After publicly denouncing the Trickle Down theory a few weeks ago, which, as we all know, is the very basis of the neoliberal economy at […]

Income tax

Indonesia to impose VAT and income tax on crypto assets from May

JAKARTA, April 1 (Reuters) – Indonesia plans to charge value added tax (VAT) on crypto asset transactions and an income tax on capital gains from such investments at 0.1 % each, starting May 1, a tax official said Friday. amid a boom in digital asset trading. Interest in digital assets has surged in Southeast Asia’s […]

Corporate profits

Corporate profits hit a record high of nearly $3 trillion in 2021

As working-class Americans grappled with high inflation, corporate profits hit an all-time high in 2021, hitting nearly $3 trillion. Data from Commerce Department’s Bureau of Economic Analysis shows that pre-tax profits on the whole year increased by a whopping 25%, reaching $2.8 trillion. The fourth quarter annualized profit rate was even higher, at $2.94 trillion. […]

Corporate profits

US corporate profits and CEO pay jumped in 2021 as inflation squeezed real wages

The corporate assault on the living standards of American workers during the pandemic intensified in 2021. As inflation slashed living standards for most, corporate profits hit record highs levels for decades, rising 25% year over year to $2.81 trillion. The increase is even greater – 37% – when taxes are taken into account. This is […]

Corporate profits

Even as inflation bites, corporate profits soar

Stan Choe ASSOCIATED PRESS NEW YORK – What is safe from high inflation? So far the profits of large US companies. Businesses face higher gas and heating bills, as do consumers, in addition to higher expenses for labor and raw materials. But unlike many middle- and low-income Americans, they earned more than enough extra income […]