Income tax

And after? Personal income tax. Part Three – On fiscal policy, is the governor of Kentucky ahead on his skis?

We continue our examination of executive power and tax changes in Part 3 of this series (see part one and second part for a reminder). Kentucky levies an income tax on all income earned by Kentucky residents, as well as all income earned by nonresidents through Kentucky sources. The personal income tax rate is currently […]

Income tax

How to reduce income tax by reaping losses in a weak stock market – explained

Income tax calculator: After the bloodbath of Friday’s session, the Indian stock market has come under downward pressure over the past four sessions. But, this weakness in the stock market can be turned into a great opportunity by investors paying income taxes. They can reduce their income tax expenses by reaping the losses. According to […]

Foreign investments

President Biden’s Executive Order Strengthens CFIUS Review of Foreign Investments in Key U.S. Sectors – Terrorism, Homeland Security and Defense

As the United States Enhances CFIUS Surveillance of Foreign Investments in Sensitive Sectors of the Economy, We Assess the Key Factors at Play President Biden recently issued an executive order on ensuring rigorous review of evolving national security risks by the Committee on Foreign Investment in the United States (the FO on Foreign Investment). It […]

Annual profits

Origin Enterprises reports strong increase in annual profits

International agribusiness services group Origin Enterprises reported a sharp increase in revenue and profit for the year to the end of July due to strong growth in commodity prices. Origin Enterprises said its annual revenue jumped 41.2% to 2.342 billion euros, while the group’s total operating profit jumped 98.3% to 126.6 million euros. . It […]

Income tax

The work could give councils the power to spend income tax locally

The work could give councils the power to spend income tax locally as part of a “big rebalancing” of decentralization, Lisa Nandy said. Ms Nandy confirmed her party would consider proposals that could give metro mayors and other local leaders an additional £6billion a year. She is exploring an idea first suggested by Onward, a […]

Corporate profits

Corporate profits rise 22% to Rs1tr in 2021-22 Business Insider

KARACHI: A third of Pakistan may be under water, but blue-chip companies continue to make hay as the sun shines brighter than ever on the country’s corporate sector. Net profits of major listed companies increased by 22% for 2021-2022 to over Rs 1 trillion on an annual basis. Talk to Dawn On Saturday, Topline Securities […]

Income tax

Removing the top income tax rate is right – whether or not the Tories win the next election

In fact, the last two chancellors to cut the top tax rate went on to help their parties win the subsequent general election. Maybe this one will be too. It was definitely the hat rabbit. We already know about the cancellation of the National Insurance increase, the removal of the planned corporate tax hike, the […]

Income tax

Kwasi Kwarteng scraps top income tax rate in £45billion cut package

Kwasi Kwarteng, UK Chancellor, has taken a huge political gamble with a mini budget to boost the UK economy, with £45billion in tax cuts, including the scrapping of the 45p top tax rate for the highest incomes. The package will delight many of the City of Londoners and the wealthy. It removes the 45p rate, […]

Foreign investments

New CFIUS Executive Order Adds National Security Factors to Foreign Investment Evaluation – Terrorism, Homeland Security and Defense

September 23, 2022 Hughes Hubbard & Reed LLP To print this article, all you need to do is be registered or log in to Mondaq.com. September 22, 2022 – On September 15, 2022, President Biden signed Executive Order (EO) 14083 expanding the list of national security factors that the Committee on Foreign Investment […]

Foreign investments

Governor Sanwo-Olu seeks foreign investment in New York

Babajide Sanwo-Olu, Governor of Lagos State Adebayo Obajemu Governor Sanwo-Olu spoke with a group of potential investors in New York on Monday on the sidelines of the 77th session of the United Nations General Assembly to urge them to invest in Lagos State. The Governor spoke of the major progress Lagos has made over the […]

Income tax

Income tax | Ways to save on your income tax

No matter where you’re from, where you live, or where you work, there’s one thing all earners have in common: taxes. The collection of personal income tax is the government’s main source of revenue. It is what funds the construction of roads and other essential infrastructure. It pays for the subsidies on LPG and food, […]

Foreign investments

President Biden’s executive order strengthens CFIUS control over foreign investment in key U.S. sectors

President Biden recently issued an executive order on ensuring rigorous review of evolving national security risks by the Committee on Foreign Investment in the United States (the FO on Foreign Investment). It directs the Committee on Foreign Investment in the United States (CFIUS) to take a closer look at foreign acquisitions and investments in what […]

Income tax

Missouri Senate committee negotiates income tax cut

JEFFERSON CITY, Mo. — Missouri state senators offered two strategies Monday to cut income taxes, but behind-the-scenes negotiations were still ongoing. The Senate Appropriations Committee passed two income tax bills for the entire Republican-led chamber to debate. The first mirrors what Republican Gov. Mike Parson instructed lawmakers to pass when he called them back for […]

Annual profits

Clothing company Patagonia will donate annual profits of…

“If you want to die the richest man, then stay alert. Keep investing, spend nothing. Do not eat anything from the capital. Don’t have a good time. Don’t get to know yourself. Give nothing. Keep all. Die as rich as possible. “But you know what? I’ve heard an expression that says it all: There’s no […]

Foreign investments

China’s robot industry ambitions pave way for foreign investment

China is rapidly emerging as a global robotics powerhouse as the government strives for the industry to rival the world’s most innovative economies. China has already been the world’s largest market for the application of industrial robots for nearly a decade and is a growing power in the production of industrial robots. For the Chinese […]

Income tax

Taxpayers will benefit as government decriminalizes certain offenses under income tax law

In line with the Government’s policy to facilitate the conduct of business and the decriminalization of offences, the Central Board of Direct Taxes (CBDT) has issued revised guidelines for the composition of various offenses under the Income Tax Act. revenue. Some of the key changes to benefit taxpayers include making the offense punishable under section […]

Foreign investments

FIFA World Cup Qatar 2022 will attract foreign investment: official

Doha: With just 63 days to go until the FIFA World Cup Qatar 2022 kicks off, it is essential to promote the country’s economic boom as the event offers the opportunity to promote Qatar’s economy and its investment sector, a senior official said. The FIFA World Cup Qatar 2022 provides a great opportunity to promote […]

Corporate profits

It’s time to tax excess corporate profits

We heard it all along covidPandemic of -19: while we are all in the same storm, we are not all in the same boat. Nothing has made this clearer than soaring corporate profits. Some companies, like Zoom, have done better during the pandemic because they were well positioned to respond to changing needs. But other […]

Income tax

Who finances the CPR, the “centrist” think tank under the income tax scanner?

funds and projects Over the past five years till 2020-2021, CPR has received over 140 crores for specified and unspecified projects. Of this amount, about 122 crore rupees was earmarked for specific projects or purposes – the domestic donor share was a meager 14.54 crore rupees. Funds received only for unspecified purposes have been included […]

Foreign investments

US bans certain foreign investments in chips, AI and quantum technology

President Biden has issued an executive order that prohibits certain entities from investing in U.S. organizations if doing so gives the investor access to certain U.S. information technology and/or data. Its catchy title is the Order to Ensure Rigorous Review of Evolving National Security Risks by the Committee on Foreign Investment in the United States. […]

Income tax

Increase in income tax charges

Despitee the high inflation that is rocking the Nigerian economy, Access Holdings Plc has announced that its profit after tax (PAT) reached N88.739 billion in the first half (H1) of 2022. This represents an increase of 2.21% as the group recorded N86.819 billion in the same period of 2021. According to the group’s first half […]

Foreign investments

Increase in foreign investment after repeal of Section 370

Srinagar After witnessing decades of violence, the Union Territory of Jammu and Kashmir witnessed huge changes in economic activities after the repeal of Section 370. After the repeal of Section 370, Jammu and Kashmir came under 890 central laws while 250 unjust state laws were eliminated. 130 additional state laws have undergone changes. […]

Annual profits

Dunelm posts record annual profits

DUNELM saw its annual profits jump by almost a third to a new record, but signaled an “extremely difficult” wider economic backdrop. The home goods retailer said pre-tax profits jumped 32.4% to £209m on a 52-week pro forma basis, from £157.8m the previous year. Dunelm said sales remained “robust” in the first 10 weeks since […]

Foreign investments

Romanian FinMin praises robust FDI despite paltry “real” foreign investment

Romanian government officials take credit for what they describe as buoyant FDI these days, but figures show ‘real’ FDI – namely new equity investments – amounted to just 173 million euros in the first seven months of the year (and in fact almost 1 billion euros in the 12 months ending in July) against a […]

Income tax

Louisiana lawmakers discuss eliminating income tax

BATON ROUGE (AP) — Louisiana lawmakers are once again discussing a possible path to eliminating state income tax. Lawmakers acknowledged at Tuesday’s tax drafting committee meeting that proposals to eliminate the income tax would face huge tax hurdles, but others say there is a need to help retain and attract residents, businesses, and corporations to […]

Corporate profits

Tightening corporate earnings is the biggest risk to the stock market right now

The US stock market faces a major threat from shrinking corporate profit margins. You cannot appreciate this threat. It’s easy to focus instead on the continued and surprising strength of economic demand, which has translated into a robust (double-digit) growth rate in business sales over the past year. But a seemingly modest decline in profit […]

Foreign investments

EY Greece’s Papazoglou to ANA: Attracting foreign investment is essential for strong and sustainable growth

Greece remains attractive as an investment destination and many of its individual indicators are improving despite an extremely gloomy international environment, where the first war on the European continent in the 21st century and the sharp increases in energy prices and foodstuffs cast a dark shadow, the EY Greece Country Managing Partner, Panos Papazoglou, told […]

Income tax

Crypto Not Foreign Currency For Income Tax Purposes: Bill Released

Taxpayers will benefit from greater certainty over the tax treatment of digital currencies, following the government’s release of law Project September 6, 2022. The exposure draft follows a announcement made in June 2022 by the Albanian government to clarify that digital currencies, such as Bitcoin and other similar digital currencies, will not be considered foreign […]

Foreign investments

“Foreign investments to boost the industrial space”

The robust influx of foreign investment in the second quarter, particularly in the transportation, storage and manufacturing sectors, is expected to boost the absorption of industrial and warehousing space, according to Colliers Philippines. From April to June, approved investment pledges from foreign sources rose 105% to 46.2 billion pesos ($889 million), according to data from […]

Income tax

Lawmakers will discuss sweeping tax reforms, including the elimination of income tax in preparation for next year’s legislative session

NEW ORLEANS (WVUE) — The House Ways and Means Committee will hold its first of several meetings Sept. 13 to discuss sweeping reforms to Louisiana’s tax system, which include eliminating the income tax on individuals. The meetings will be a way to explore how it would work, as well as discussions with local government officials, […]

Foreign investments

Egypt opens the door to local and foreign investment

Egypt’s strong infrastructure and supportive political will that backs the private sector has opened its doors to local and foreign investment to achieve comprehensive and sustainable development, the country’s finance minister said. Mohamed Maait met with the CEO of the International Islamic Trade Finance Corporation (ITFC) and the Islamic Corporation for the Development of the […]

Income tax

Measure to Cut Colorado Income Tax Rate Rises Least But Faces No Formal Opposition | Election 2022

With just two months to go until the November election, the race to raise campaign money is heating up, but a ballot measure to cut the state income tax rate appears to have cooled. Colorado Character, the countryside behind Move 31 asking voters to cut the state income tax rate from 4.55% to 4.40% has […]

Income tax

What is Prop 30? The High Net Worth Income Tax Measure for Electric Vehicles Explained

SAN FRANCISCO– Should taxes be raised on the wealthiest Californians to fund new climate projects, including subsidies for electric vehicles? This is the question at the heart of Proposition 30. The measure would raise taxes by 1.75% on people earning more than $2 million. These revenues would go to funding electric vehicles, charging stations and […]

Corporate profits

RBA again fails to recognize record corporate profits

Greens Treasury spokesman Senator Nick McKim today responded to RBA Governor Philip Lowe’s speech in which he again failed to acknowledge the role of corporate profits in driving the ‘inflation. “Yesterday’s national accounts showed that the share of profits in national income hit a new high and the share of wages in national income hit […]

Foreign investments

Foreign investment in the agricultural sector falls to its lowest level in 5 years

Foreign investment in Nigeria’s agricultural sector fell to $59.17 million in the first six months of 2022, the lowest in five years, as insecurity remains a major concern for local players and foreigners seeking in the country. Data from the National Bureau of Statistics shows that $59.17 million of capital was imported into the agricultural […]

Annual profits

Barratt reveals £200m share buyback on record annual profits

Barratt Developments reveals £200m share buyback and boosts dividend as UK’s biggest homebuilder posts record annual profits Barratt has also increased its recommended final dividend to 25.7p per share The FTSE 100 group made a record adjusted pre-tax profit of £1.05bn Low mortgage rates and undersupply have boosted the UK property market By Harry Wise […]

Foreign investments

Sharjah wants to harness foreign investment for the next stage of economic growth

Dubai: For its medium-term economic growth, Sharjah will pursue the same strategy that has served the emirate well during the Covid phase: attracting more foreign investment. And in seven sectors likely to attract the highest degree of attention. Take the health sector, for example – “Due to an increasing aging population, overall population increase and […]

Income tax

Filing of RTI: can taxpayers correct the tax return filed in previous years?

RTI deposit: The due date for filing the Unaudited Income Tax Return (ITR) has passed and those who have not filed their ITR by the due date indicated, they must file their return before the last filing date of the ITR, i.e. December 31, 2022. When filing this year’s ITR, some taxpayers may find financial […]

Corporate profits

Beautiful corporate earnings growth may not be as strong as it seems

An image from the financial crisis comedy-drama The Big Short. Analysts point to cost pressures undermining seemingly good corporate earnings. Photo / Jaap Buitendijk Wall Street’s strong gains this summer have spread widely across all sectors. Is earnings growth helping to sustain these gains? Not really. About 90% of S&P 500 companies have reported second-quarter […]

Foreign investments

The EU remains open to foreign investment, but this openness is not unconditional

Foreign investment screening and export control play an essential role in safeguarding European security and public order. This is the result of two reports adopted yesterday by the European Commission: the report on the screening of foreign direct investments (FDI) and the report on the regulation on export controls. In 2021, the Commission analyzed more […]

Income tax

Singapore Income Tax Review Board Issues First Capital Allocation Ruling in Over a Decade | Morgana Lewis

The judgment of ZF vs. income tax auditor was a landmark decision by the Singapore Court of Appeal in 2010, which influenced the way write-offs were sought and awarded in the years that followed. No challenge had been heard by the Income Tax Review Board for over a decade, until the Board’s decision in GEY […]

Foreign investments

NESG urges FG and states to attract more foreign investment

Nigeria Economic Summit Group (NESG) The Nigerian Economic Summit Group (NESG) has called on federal and sub-national governments to step up their efforts to attract foreign direct investment (FDI) by focusing on specific economic areas where Nigeria has a competitive advantage. The private sector think tank said adopting priority sectors of the national economy for […]