Income tax

Can the state really afford an income tax cut? | Columnists

Country the United States of AmericaUS Virgin IslandsU.S. Minor Outlying IslandsCanadaMexico, United Mexican StatesBahamas, Commonwealth ofCuba, Republic ofDominican RepublicHaiti, Republic ofJamaicaAfghanistanAlbania, People’s Socialist Republic ofAlgeria, People’s Democratic Republic ofAmerican SamoaAndorra, Principality ofAngola, Republic ofAnguillaAntarctica (the territory south of 60 degrees S)Antigua and BarbudaArgentina, Argentine RepublicArmeniaArubaAustralia, Commonwealth ofAustria, Republic ofAzerbaijan, Republic ofBahrain, Kingdom ofBangladesh, People’s Republic […]

Annual profits

Majority of listed SOEs post annual profits

About 61% of listed public sector companies posted profits while the rest were in the red over the past fiscal year. The Bangladesh Shipping Corporation topped the list with a 213% increase in profit, driven mainly by soaring freight rates. But the Power Grid Company of Bangladesh (PGCB) Ltd – the country’s only public power […]

Income tax

Income Tax Department detects Rs 1300 cr of black money after raids in Karnataka

The Income Tax (IT) department said on Thursday that it had detected unrecorded income of Rs 1,300 crore after raids in Karnataka. The department conducted search operations on October 20, 2022 and November 2 on certain individuals who had signed Joint Development Agreements (JDAs) with various property developers. The raids covered more than 50 premises […]

Income tax

Employee tax return: 5 common problems and their solutions explained

Filing of income tax return (ITR) is a must for salaried employees with an annual income above Rs 2.5 lakh. The income tax rules contain several provisions through which employees can reduce their overall tax expenditures. However, we see that many employees do not take full advantage of these tax-saving measures. This article explains five […]

Foreign investments

Avoid Penalties for Failing to Disclose Foreign Investments When Filing an ITR

Indian investors invested in US equities to maintain diversification of their portfolios across geographies. These investors should be aware of tax laws when investing overseas. As an Indian taxpayer, it is important not only to pay taxes on gains and dividends earned, but also to properly disclose foreign investments. Taxpayers may end up paying a […]

Income tax

Common income tax return form (RTI): will the CBDT proposal simplify the work of taxpayers?

Income tax declaration: In order to facilitate the task of taxpayers, the Central Direct Tax Board (DBDT) has proposed an income declaration form (RTI) common to all taxpayers. The CBDT proposed to merge all ITR forms except Form-7. Currently, taxpayers are required to file their tax returns in ITR-1 to ITR-7 depending on the type […]

Income tax

Massachusetts Voters Approve ‘Millionaire Tax’ as Californians Reject High Income Tax Hike

In the 2022 midterm elections, voters in Massachusetts approved the first question, a … [+] amendment that will create a new tax rate of 9% applicable to income over $1 million. Getty In the 2022 midterm elections, Californians, like those in Massachusetts, voted to give Democrats control of their state’s government. Yet these two left-leaning […]

Annual profits

Primark bolsters AB Foods as annual profits soar

Related British Foods reported an increase in full-year sales and profits on Tuesday, despite soaring input cost inflation, after a stellar performance by its economy fashion brand Primark. Group revenue for the year to September 17 rose 22% in constant and real currency to £17bn, while adjusted operating profit rose 42% to £1.44bn . Pre-tax […]

Income tax

Husband, wife, brother arrested after preparing false tax returns for clients – FOX13 News Memphis

MEMPHIS, Tenn. — A husband, wife and brother are convicted after preparing false tax returns for clients and themselves, according to court documents. Robert L. Pryor, 46, Elaine Pryor, 43, and Joshua L. Pryor, 44, were convicted of preparing and filing false tax returns under the business name Better Dayz Tax Services, LLC, according to […]

Corporate profits

As prices of essential goods soar, corporate profits rise

As complex factors ranging from inflation to the Russian invasion of Ukraine drove up the cost of raw materials, companies in the food, energy, healthcare and real estate sectors increased their prices far beyond covering their own increased costs, according to a new report analyzing business earnings from Accountable.US. Rising prices for consumer staples have […]

Income tax

Undeclared work for additional income? Know the income tax rules

Major IT companies like Wipro, Infosys and TCS have recently raised concerns about moonlighting. The debate around moonlighting has been making headlines in the IT industry ever since Wipro chairman Rishad Premji flagged the issue on Twitter, calling it “cheating”. Moonlighting has experienced a surge following the covid-19 pandemic. What is moonlight Simply put, in […]

Corporate profits

This chart shows where more and more corporate profits are going: tax havens

Unpublished analysis released on Thursday shows how the amount of corporate profits diverted to tax havens has skyrocketed in recent years, with nearly $1 trillion in global profits being stored in places where corporate giants have not to pay taxes. The United Nations University World Institute for Development Economics Research (UNU-WIDER) studied corporate profits and […]

Income tax

EXCLUSIVE: After GST, income tax probes online gambling companies

The net is closing in on offshore online gaming platforms that could escape the long arms of the Indian tax authorities. Sources told Business Today TV that the Central Board of Direct Taxes (CBDT) is consolidating its plans to tackle the issue. “We have observed that many offshore applications generate huge business, but the corresponding […]

Income tax

Elimination of income tax sparks more debate in Louisiana

Texas, Florida and Tennessee — states with no personal income taxes and strong economies — are attracting the attention of Louisiana lawmakers who are considering whether they should follow suit. At a meeting of the House Ways and Means Committee in September, lawmakers began studying Louisiana taxes as part of a House resolution passed earlier […]

Foreign investments

“Foreign investment will make Ctg port a regional hub”

Minister of State for Shipping Khalid Mahmud Chowdhury told a TBS event Star Activity Report Sun Oct 30 2022 8:12 PM Last updated on: Sun Oct 30 2022 8:41 PM Minister of State for Shipping Khalid Mahmud Chowdhury speaks at a panel discussion on ‘How Chattogram Port can be transformed into a regional shipping hub’ […]

Income tax

Beware of the Fake Income Tax Department! CE malware attacks taxpayers; Know the tricks to avoid losses

The Drinik malware is back and is now attacking taxpayers. Know how to protect your data. This is an important alert for all taxpayers. A malware nicknamed Drinik is back. Recently, Cyble Research & Intelligence Labs (CRIL) identified an enhanced version of Drinik impersonating India’s income tax department and targeting 18 banks, including the National […]

Foreign investments

The BoU loses billions in foreign investment

Although profit and loss is not generally considered a consideration for central banks, the financial shortfall that the Bank of Uganda (BoU) has suffered in the bond market has resulted in paper losses on various holdings. The BoU derives most of its income from investing most of Uganda’s foreign exchange reserves in said bonds, a […]

Corporate profits

Quarterly corporate profit growth slows – Business

KARACHI: The rate of increase in quarterly profits recorded by major companies listed on the Pakistan Stock Exchange (PSX) has slowed to three-quarters of the five-year average. Profits of representative companies in the business sector rose 4% year-on-year in July-September to reach 262 billion rupees, according to data compiled by Topline Securities. The net income […]

Corporate profits

An Excessive Profits Tax Would Reduce Obscene Corporate Profits and Make Life Easier for the Rest of Us

As workers around the world grapple with the cost of living and the fallout from rising post-Covid interest rates, corporations and the super-rich are skimming it. ANZ Bank is the latest to report eye-watering earnings – more than 2 billion dollars for the past year – as it raises interest rates to force mortgagers to […]

Income tax

Mississippi government to push for total elimination of income tax

JACKSON, Miss (AP) — Mississippi Governor Tate Reeves has vowed to push for a complete elimination of state income tax in the 2023 legislative session. The move would make Mississippi the 10th State without income tax. Addressing a crowd of business leaders Thursday at an event hosted by the state Chamber of Commerce, Reeves touted […]

Income tax

Updating of income tax portal at the start of this fiscal year will not affect benefits for MSMEs from Udyam: Government

Ease of doing business for MSMEs: The Ministry of MSMEs has clarified that there will be no change in the benefits enjoyed by companies registered on the Udyam portal and classified under the definition of MSMEs between April 1 and June 7, 2022. The clarification has been made because that the portal of the Income […]

Income tax

Reward staking: is the IRS digging in or changing its mind? – Income tax

October 21, 2022 Cadwalader, Wickersham & Taft LLP To print this article, all you need to do is be registered or log in to Mondaq.com. Crypto industry groups had hoped to use the tax refund case of Jarrett v. United States, No. 3:21-cv-00419 (MD Tenn.) as a means of proving that staking rewards received by […]

Income tax

What happens if I am late filing my tax return?

It’s probably fair to say that the Australian Taxation Office is not seen as the fairest or most beloved organization – taking a huge chunk of hard-earned funds from residents each year and often undeservingly allocating a large chunk to dubious schemes and to the privileged. ; including millions to politicians already well paid for […]

Annual profits

Booths Sees Full Year Profits Rise, But CEO Warns of Looming Cost of Living Impacts | New

Booths recorded a full-year sales increase of 4.4% to £296.7m in the year to 2 April 2022 (up £12.6m from 284 £.1m the previous year) due to a return of regular post Covid business models as well as a record breaking Christmas season in 2021. Pre-tax profit fell from £1.9m to £3m, while EBITDA increased […]

Corporate profits

Asian stocks mixed after Wall St rise in corporate earnings

A forex trader walks past screens showing the Korea Composite Stock Price Index (KOSPI), right, and exchange rates at a foreign exchange trading floor in Seoul, South Korea, Tuesday, Oct. 18, 2022. Stocks were mostly higher in Asia on Tuesday after Wall Street rallied in its latest about-face in recent upside trades. (AP Photo/Lee ​​Jin-man) […]

Corporate profits

Corporate profits: a key indicator of credit market behavior

Profit cycle and credit market performanceNew research from the PGIM Fixed Income strategy team has found that the corporate earnings cycle may be a more accurate indicator of credit market behavior than changes in GDP. The team looked at data going back over 70 years to analyze the relationship between credit spreads, GDP and earnings. […]

Income tax

Brook Park considers future regional income tax collection

BROOK PARK, Ohio – Brook Park is currently processing income tax collections through its tax department, but the City Council caucus on Oct. 11 heard Regional Income Tax Agency Representative Brian Thunberg explained the benefits of having RITA take on these functions. RITA, a full-service municipal tax collection and administration agency, partners with 47 communities […]

Foreign investments

PH welcomes foreign investment in telecommunications and infrastructure

The Philippines is open to foreign investment, especially in telecommunications, airports, toll roads and shipping, Finance Secretary Benjamin Diokno said. Diokno said he is ready to welcome income-generating investments in the Philippines during the Standard Chartered Bank Sovereign Investor Forum on October 13 at the Ritz-Carlton in Washington D.C. “Foreign investors are now welcome to […]

Income tax

Tax consequences of undeclared work: Undeclared work with a regular job? Know the tax implications

By Nitesh Buddhadev Undeclared work means having a secondary job while continuing to work for the main employer. Often secondary work without the knowledge of the main employer. Secondary work can be outside the working hours of the main job, i.e. at night or on weekends. Recently, a company laid off employees for Moonlighting while […]

Foreign investments

Womble Bond Dickinson Attorney Jackie Camp Presents Foreign Investments to ACC Houston’s International Law Practice Group

HOUSTON, TX – On Wednesday, October 12, Womble Bond Dickinson’s attorney, Jackie Camp, presented at the ACC Houston International Law Practice Group Luncheon, sponsored by Womble Bond Dickinson. Camp presented with Shalini Soopramanien, Assistant General Counsel of the US International Development Finance Corporation. Camp and Soopramanien’s presentation, “Investing in Development: DFC, Sustainable Development and You” […]

Income tax

Reform of personal income tax and the situation of entrepreneurs

The Tax Council of the Republic of Serbia published on September 29, 2022 the “Proposal for social and tax policy measures to reduce inequalities and poverty risks in the Republic of Serbia”. One of the proposed tax policy measures to reduce inequality is to double the limit on the amount of non-taxable salary, from RSD […]

Income tax

Michigan Romney was brainwashed – by income tax

During the summer, I played golf at a course near Nashville. The club paired me with a gentleman in his thirties. We both exchanged questions about what we were doing. His response: “I’m an auto worker. Of course he was. There are legions of them in Tennessee. I heard about the expertise in using sophisticated […]

Corporate profits

The Independent View: Corporate Earnings and Inflation | New

Corporate profits and tax breaks for millionaires have been discussed from letters to the editor to dinner parties. As I’ve said before, Jeff Bezos, Mark Zukerberg, and Elon Musk paid little to no taxes last year and years before. All of these people employ millions of people who pay taxes. They get tax relief by […]

Foreign investments

PH’s foreign investment decline continued in July, down 64%

Bangko Sentral of the Philippines. (File Photo/Philippine Daily Inquirer) Net inflow of foreign direct investment (FDI) to the Philippines fell for the third consecutive month to $460 million in July, down 64% from $1.3 billion in the same month last year . Net inflows have fallen month-on-month since hitting $989 million in April. The July […]

Income tax

Free Trade Zone Manufacturers Oppose 30% Income Tax Increase in Writing to President

The Free Trade Zone Manufacturers Association (FTZMA) has written to President Ranil Wickremesinghe expressing its opposition to the proposed 30% tax on profits made, warning that it will have a serious impact on their survival and attract much needed FDI to Sri Lanka . In their letter to the President, FTZMA President […]

Income tax

Income tax: How to minimize the 30% rate on crypto-currencies?

The demand for cryptocurrencies is on a roller coaster this year due to the bearish movement in the global market. As of the end of the second quarter of 2022, emerging markets are currently dominating cryptocurrency adoption, with India ranking fourth. Cryptocurrencies continue to be hot topics for investment options despite their complexity and highly […]

Corporate profits

India’s economic growth has lost momentum, but weak corporate profits keep the engine running

Jhe signs of an economic slowdown are inescapable. Whether it’s industrial production, electricity generation, exports or Goods and Services Tax (GST) revenues, there is a loss of momentum. Some indicators claim to be misleading, such as bank credit, which is growing by around 14%. But when wholesale price inflation is 12.4%, much of the growth […]

Corporate profits

Can taxing luxury goods and corporate profits reduce inflation?

This is just one of the stories in our “I’ve Always Wondered” series, where we tackle all your business questions, big or small. Have you ever wondered if recycling is worth it? Or how store brands pile up against brand names? Discover more of the series here. Auditor Bonnie Hogue from Santa Rosa, California asks: […]

Corporate profits

The strong dollar is a risk to corporate earnings

Sinenki The strong dollar remains a risk to corporate earnings and asset prices as the impact on global economies grows. While many commentators have argued that the dollar will go bankrupt due to excessive debt levels in the United States, such was hardly the case. In 2022, when the American economy is the “the cleanest […]

Income tax

Colorado income tax changes are displayed more prominently

The GG proposition is a vote measure on vote measures. It represents Colorado’s latest battleground over the Taxpayer Bill of Rights as Democrats seek to circumvent the 1992 Constitutional Amendment, known as TABOR, and Republicans fight to prevent any change. The initiative, if passed, would require the state to more prominently display detailed information about […]

Corporate profits

Corporate earnings give Robertson a surprise $9.3 billion

Finance Minister Grant Robertson today unveiled a $9.3 billion surprise, revealing the government’s books were nearly $10 billion closer to surplus than expected in May, helped by a tax take that topped $100 billion for the first time. The bonus was partly due to a good year for corporate profits, with companies paying 26.2% more […]

Foreign investments

Bangladesh makes strong case for foreign investment in ‘Asian economic powerhouse’

Abu Dhabi – Salman Fazlur Rahman, Member of Parliament and Investment Advisor to Prime Minister of Bangladesh Sheikh Hasina Wajed is visiting Abu Dhabi to promote business and trade opportunities in South Asia’s fastest growing economy South. Rahman is also co-founder and vice-chairman of BEXIMCO Group, one of the largest private conglomerates in Bangladesh. Data […]

Corporate profits

Corporate profits give Grant Robertson a $9.3 billion surprise as the government edges closer to surplus

Finance Minister Grant Robertson during his briefing on the Crown Treasury Accounts in Wellington. Video / Mark Mitchell Finance Minister Grant Robertson today unveiled a $9.3 billion surprise, revealing the government’s books were nearly $10 billion closer to surplus than expected in May, helped by a tax take that topped $100 billion for the first […]

Income tax

U-turn on the elimination of the 45% income tax rate

After the Chancellor’s shock “mini-budget” on 23rd September, the government announced that it was abandoning its plan to abolish the additional 45% rate of income tax. The 45% top-rate income tax bracket for people earning over £150,000 was to be scrapped entirely. This has been estimated to cost the Treasury around £2 billion a year. […]

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 […]