Corporate profits

Is inflation driven by corporate profits? | Columns

There is no doubt that inflation is on everyone’s mind. I overheard a conversation last week between two people at a local store discussing things going up, and one said to the other, “That’s ridiculous!” We know that rising costs keep reverberating and that we can’t cut back or stop doing so much. That was […]

Income tax

Research: Rating Action: Moody’s Assigns Aa1 to District of Columbia Guaranteed Income and Income Tax Refund Bonds, Series 2022A, B and C; stable outlook

No related data. © 2022 Moody’s Corporation, Moody’s Investors Service, Inc., Moody’s Analytics, Inc. and/or their licensors and affiliates (collectively, “MOODY’S”). All rights reserved. THE CREDIT RATINGS ISSUED BY MOODY’S CREDIT RATINGS AFFILIATES CONSTITUTE THEIR CURRENT OPINIONS ON THE RELATIVE FUTURE CREDIT RISK OF THE ENTITIES, CREDIT COMMITMENTS OR INDEBTEDNESS OR SECURITIES ASSOCIATED WITH […]

Income tax

Springfield is expected to generate $45.2 million in income tax revenue for 2023

However, income tax revenue increased to 39.9 million in 2021. This information was recently shared with the City of Springfield Commissioners by Mark Beckdahl, the City of Springfield’s Chief Financial Officer. An ordinance adopting the tax budget was also approved by elected officials at their bi-weekly public meeting on Tuesday. The projected tax revenues are […]

Income tax

3 Income tax clerks siphoned off crores through bogus TDS refunds; CBI probes

The scam surfaced when one of the valuation agents detected the calculation of refunds under Section 154 of the Information Technology Act. The scam surfaced when one of the valuation agents detected the calculation of refunds under Section 154 of the Information Technology Act. The CBI has opened an investigation against three Department of Income […]

Foreign investments

India emerges as preferred destination for foreign investment: Govt

India is rapidly becoming a favorite country for foreign investment as the measures taken by the government led by Prime Minister Narendra Modi over the past eight years have paid off, as evidenced by the ever-increasing volumes of FDI that set new records. FDI inflow to India reached its highest level […]

Foreign investments

Tax and customs incentives to attract foreign investment

Okaz/Saudi Official Gazette Riyadh — The National Incentives Committee revealed that the committee would provide financial and non-financial incentives for investment projects to empower, promote, encourage and attract local and foreign investment. The committee will focus on providing tax and customs incentives; incentives linked to financial compensation depending on the type of economic activity; incentives […]

Income tax

7 special tax benefits for seniors

There are certain tax benefits for senior citizens that they can avail of. Apart from the tax advantages, the electronic income tax filing process has also been specially designed for them. Let’s take a look at the tax benefits available to seniors Different tax rates Income tax slab rates for seniors are different from those […]

Income tax

Seven Tax Benefits for Seniors Only

Senior citizens enjoy some additional advantages over other taxpayers when it comes to income tax. Besides the income tax roundups that are exclusively designed for seniors, the ITR electronic filing process is also easier for them. In accordance with applicable law, for income tax purposes, an elderly person is a natural person residing between the […]

Foreign investments

Doha attracts over $3 billion in foreign investment in 2022 – Doha News

Qatar has implemented a free trade strategy and has undergone many structural changes to reinforce the principle of trade openness. Doha has attracted more than $3 billion in foreign investment to its capital market so far this year, globally surpassing $1.8 billion in total investment for the whole of 2021, according to the trade minister […]

Income tax

Top 4 Apps That Help You Save Income Tax (2022)

Those of you who are in the nation’s tax filing class know how tedious and tedious the whole tax filing process is. But the real struggle is finding various ways and means and understanding different financial policies so you can save a few dollars on income tax. Today there are millions of apps available on […]

Foreign investments

Assessing the National Security Aspects of Foreign Investments: Between National Security and Economic Uncertainty | Barnea Jaffa Lande & Co.

Foreign investment in Israel has exploded in recent years. At the end of 2020, direct investment by foreign residents in Israel exceeded $185 billion, an increase of almost 15% compared to 2019. Foreign investment offers significant benefits in terms of the Israeli economy, but it also raises concerns. Many sectors of the Israeli economy involve […]

Annual profits

Berkeley Group FY profits rise, JD Sports more than doubles annual profit

London pre-opening The FTSE 100 was set to open 80.9 points lower before the bell on Wednesday after closing 0.42% higher in the previous session at 7,152.05. Stocks to Watch Real estate developer and home builder Berkeley Group said Wednesday that pre-tax earnings and earnings per share for the full year had both improved in […]

Corporate profits

Report: Record corporate profits are driving inflation, not labor costs

Workers earning a living wage are not the cause of inflation, as some conservative politicians and pundits keep insisting. Rather, according to a new report per the Maine Center for Economic Policy, higher costs are the result of corporate consolidation and companies using their control of the market to set inflated prices. These companies rake […]

Foreign investments

FATF launches numerous incentives to attract more foreign investment to Egypt

The General Authority for Investments and Free Zones (GAFI) – press photo CAIRO – June 21, 2022: The General Authority for Investment and Free Zones (GAFI) is working to attract more local and foreign investment to the Egyptian market, by launching several investment incentives, according to FATF CEO Mohamed Abdel Wahab. Abdel Wahab clarified […]

Corporate profits

Study shows corporate excess profits in the US have become ‘widespread’

A new document released on Tuesday shows U.S. corporate profit margins and profits hit their highest levels since the 1950s last year, bolstering the case for an excess profits tax as a way to curb inflation. vertiginous. Written by Mike Konczal and Niko Lusiani of the Roosevelt Institute, the analysis finds that markups – the […]

Income tax

North Carolina lawmakers split over Medicaid, marijuana and income tax

RALEIGH, NC (WNCN) — A top Republican state lawmaker has voiced support for cutting the personal income tax rate in half as legislative leaders prepare to present a budget proposal to the Governor Roy Cooper (D) in the coming days. Senate Leader Phil Berger (R-Rockingham) said one of his priorities is to accelerate the already […]

Income tax

Income tax on initial donation to HUF

My CA says that for the initial contribution to my newly formed HUF, I can take any amount of money from my father as a gift and also claims that there is absolutely no tax liability on such a gift transaction for the first time. Subsequent donations received would be taxed according to his opinion. […]

Corporate profits

Opinion: The economy must maximize human well-being, not corporate profits | Opinion

If you could afford to work less, what would you do with that time? Our audience had a wide range of responses: learning to cook, making music, spending time taking care of themselves, exploring campus. A common response was to spend more time with loved ones. “I would spend more time with my friends and […]

Corporate profits

Dissecting the extraordinary surge in corporate earnings

Uneven earnings across sectors, input cost pressures and rising interest rates coupled with a weaker rupee could dampen the pace of corporate earnings. Radhika Pandey and Pramod Sinha writes: The COVID-19 pandemic has derailed the economy but been a boon for listed companies. The sharp corporate tax cut in 2019 and the pandemic-induced cost reduction […]

Income tax

Income Tax Department conducts research at J&K and Delhi

Income Tax Department conducts research at J&K and Delhi The search action led to the seizure of unaccounted cash of over Rs. 46 million. posted on June 17, 2022 | Author RK Online Office The Income Tax Department carried out search and seizure operations on a major manufacturer and seller of Jamawar, Pashmina […]

Corporate profits

Runaway inflation has been a boon to corporate profits, new research finds

Frustrated that prices are rising much faster than your wages seem to be? You have every right to be, according to a new study from the Canadian Center for Policy Alternatives. The study, authored by CCPA senior economist David Macdonald, finds that as the Canadian economy recovers from the ravages of the COVID-19 pandemic, runaway […]

Income tax

Biden Administration Proposes Partnership Tax Changes – Income Tax

June 16, 2022 Proskauer Rose LLP To print this article, all you need to do is be registered or log in to Mondaq.com. On March 28, 2022, the Biden administration proposed some limited changes to the taxation of partnerships. In short, the Administration’s proposals (i) would prevent related partners in a partnership that […]

Foreign investments

Assessing the National Security Aspects of Foreign Investments: Between National Security and Economic Uncertainty

Foreign investment in Israel has exploded in recent years. At the end of 2020, direct investment by foreign residents in Israel exceeded $185 billion, an increase of almost 15% compared to 2019. Foreign investment offers significant benefits in terms of the Israeli economy, but it also raises concerns. Many sectors of the Israeli economy involve […]

Income tax

cost inflation index: the income tax department notifies the cost inflation index for the current fiscal year

The Income Tax Department released the cost inflation index for the current fiscal year to calculate long-term capital gains resulting from the sale of real estate, securities and jewelry. The Cost Inflation Index (CII) is used by a taxpayer to calculate gains from the sale of fixed assets after adjusting for inflation. The cost inflation […]

Annual profits

Harry Potter publisher reports bumper annual profit

Bloomsbury Publishing today announced a 40% rise in annual profit and raised its final dividend payment by around a quarter, buoyed by a reading boom that has continued even after the pandemic shutdowns. The London-listed publisher is perhaps best known for taking over JK Rowling’s Harry Potter series in 1997 after it was rejected by […]

Foreign investments

Government urged to open Philippines to more foreign investment

MANILA, Philippines — The Philippines should open up more to foreigners if it is to attract more job-creating investment, the Asia-based Hinrich Foundation said on Tuesday. There is a “window of opportunity which could be the right time to open up the country”, said Riccardo Crescenzi, professor of economic geography at the London School of […]

Income tax

Cal HC rescinds Department of Income Tax notice to TMC

BY Team DeputyJune 13, 2022 8:15 p.m. GMT Kolkata: The High Court in Calcutta on Monday quashed an order from the Income Tax Department and a subsequent notice to the Trinamool Congress (TMC) regarding alleged anomalies in the income of Bengal’s ruling party for the year of 2018-19 evaluation. The court said there was a […]

Income tax

Capital Gains Tax Battle Will Remain in Court » Publications » Washington Policy Center

The next steps on whether Washington will remain exempt from income tax will be in court as the I-1929 campaign to repeal the capital gains tax has suspended operations. Earlier this year, a judge appointed by Inslee ruled that the capital gains tax was unconstitutional. The Attorney General is asking the State Supreme Court to […]

Income tax

Income tax cuts and rebates at center of SC’s $13.8 billion budget

COLUMBIA, SC (AP) — Many South Carolina taxpayers could soon receive several hundred dollars in tax rebates in addition to a reduction in their regular tax rates after a group of powerful House and Senate lawmakers agreed to a compromise on the state budget on Friday. State lawmakers have $13.8 billion to spend on the […]

Income tax

The FBCCI requests the early withdrawal of income tax

The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) has called on the government to abolish the withholding tax on income (AIT). The country’s top trade body made the call in an immediate response to the draft national budget for the financial year 2022-23 on Thursday. “Overall, the proposed budget is development and welfare […]

Annual profits

Unite Students pledges to donate 1% of annual profits to social initiatives each year – FE News

Unite Students, the UK’s largest student accommodation provider, has pledged to donate 1% of its annual profits to social initiatives in the future, representing a commitment of around £2m per year. year. These initiatives will be closely aligned with its goal of providing a home of student success and its goal of expanding participation in […]

Income tax

Government says no data breaches found; Ask Infosys to repair; Know more

Income Tax Portal Glitch: The income tax portal, which was in the news a few months ago for developing glitches, has again developed snags, the government confirmed on Tuesday. The Department of Income Tax, which took note of the problem after receiving several complaints from users, asked the portal’s developer, Infosys, to look into the […]

Corporate profits

NDP wants to redistribute ‘excess’ corporate profits to Canadians to dampen inflation

Breadcrumb Links New Canadian politics NDP Leader Jagmeet Singh said he would leverage the supply and confidence agreement with the Liberals to push this solution forward Publication date : June 07, 2022 • 3 days ago • 2 minute read • 698 comments Jagmeet Singh, leader of the New Democratic Party (NDP), wants to tax […]

Income tax

Argentina proposes ‘extraordinary income’ tax amid grain bargains

BUENOS AIRES, June 6 (Reuters) – Argentina’s government on Monday proposed a bill to tax companies that earn “extraordinary income” from the war in Ukraine, a move that would particularly hit the country’s grain industry. The move is seen as an attempt by Argentina’s centre-left government to reduce the budget deficit and help Latin America’s […]

Income tax

Legislation passed by the General Assembly will reduce state income tax for Kentuckians starting in 2023

By Tom LateKkentucky today Kentuckians can expect a drop in their personal income tax rate next year, due to legislation enacted by the General Assembly in the 2022 session that ties the tax rate on the income to the income of the general fund of the State. The provisions of House Bill 8 would gradually […]

Annual profits

NaphCare to Earn $10 Million in Annual Profits from Arizona Jail Contract

The contractor chosen to provide health care services to people in state prisons expects to earn nearly $10 million in annual profits, according to procurement documents released by the state. The contract represents a 74% increase in the amount of money the state pays to provide health care to each prisoner each day. On Friday, […]

Income tax

Business groups support expansion of working income tax credit

MACKINAC ISLAND — Business groups on Thursday backed legislation to expand a state tax credit for low-wage workers, backing a key aspect of Gov. Gretchen Whitmer’s budget plan that recently won legislative backing. The earned income tax credit would increase from 6% of the federal credit to 20% under the Democratic governor’s proposal, where it […]

Corporate profits

US corporate profits plummet | Cash and risks

In the first quarter of 2022, US corporate profits fell the most in nearly two years as inflation promised higher costs for businesses as the economy shrank. Adjusted pretax profits fell 2.3% annualized from the prior quarter and rose 12.5% ​​from a year earlier, Commerce Department data showed Thursday. At the same time, a measure […]

Income tax

Tax authorities seize Mehul Choksi’s assets worth more than Rs 150 crore under Benami law

Fugitive diamond dealer Mehul Choksi. (File photo) New Delhi: In a major move, Income Tax (IT) authorities took physical control of real estate worth more than Rs 150 crore belonging to Mehul Choksi, the fugitive diamond merchant and uncle of Nirav Modi, in under the Benami Transactions (Prohibition) Amendment Act (BTPA) which came into force […]

Foreign investments

Saudi aviation sector needs foreign investment to meet 330 million passenger target, official says

RIYADH: Saudi Arabia will host the 116th Executive Council of the United Nations World Tourism Organization on June 7-8 in Jeddah, with around 180 participants from around the world. The two-day event will deliberate on all necessary measures to implement the council’s decisions and recommendations to support the sector. The Executive Council session will be […]

Income tax

Tax Exemption and Unrelated Business Income Tax (UBIT): The Framework (Part 1 of 3) | law of the free man

This Knowledge blog is part 1 of a 3-part series that provides a focused overview of unrelated business income tax rules for the nonprofit organization that is tax-exempt under section 501 (c)(3) of the Internal Revenue Code (the “Code”). This Part 1 sets the framework and outlines the organizational and operational tests applicable to tax-exempt […]