Corporate profits

Corporate profits soar, filling Oregon’s tax coffers

Oregon’s corporate tax payments jumped an astonishing 46% last year, topping $1 billion for the first time, as businesses large and small reaped huge profits following the pandemic. Oregon collected nearly $1.4 billion in corporate excise taxes, a tax on business income, in 2021. It’s the highest tally on record and another indicator that many […]

Corporate profits

UAE tax haven to introduce corporate profit tax

The UAE is set to introduce a corporate profit tax as it juggles the need to remain attractive to international businesses and its agreement to support global tax transparency. The Gulf state, which includes Dubai and Abu Dhabi, has grown from a desert backwater to the region’s second-largest economy, in part due to its status […]

Corporate profits

UAE set to start taxing corporate profits next year | Tax News

The move marks a significant shift as the UAE seeks to align with international standards and move towards a global minimum tax. Through Ben Bartenstein and Zainab Fattah and Farah ElbahrawyBloomberg Posted Jan 31, 2022Jan 31, 2022 The UAE will impose a federal levy on corporate profits for the first time next year as it […]

Income tax

Proposed corporate and personal income tax cuts spark support and anger | Nebraska

Proposals to cut Nebraska’s top personal income tax rate and corporate income tax won broad support Thursday from business interests, as well as stiff opposition, saying the plans bill would disproportionately help the wealthy while cutting state government revenue. Senator Lou Ann Linehan of Elkhorn, sponsor of the corporate tax cut plan contained in LB938, […]

Income tax

Ducey proposes earned income tax credit in $14 billion budget plan | Arizona Politics

PHOENIX (AP) — Gov. Doug Ducey proposed a tax credit for Arizona’s working poor on Friday, the first time in eight years of tax cuts that he’s launched a benefit aimed at low-income taxpayers. In his final budget proposal before leaving office, Ducey proposed a $14.2 billion spending plan that includes more corporate tax cuts […]

Income tax

Income tax reduction bill presented to Idaho House committee

BOISE, Idaho Legislation to reduce Idaho’s income tax and provide one-time discounts was introduced to the House income and tax committee on Wednesday. Gov. Brad Little described the proposal in his state-of-state address earlier this week, and the House committee moved at unusual speed to get it presented on the third day of the session, […]

Income tax

Replacing income tax with expenditure tax is the successful reform India needs

Each stimulus package aimed at stimulating the economy has its own impact on the country’s fiscal position. However, stimulus through tax reforms will be more helpful in building resilience in the economy in a sustainable manner. Finance Minister Nirmala Sitharaman seeks suggestions from stakeholders with a view to finalizing the annual budget for 2022-2023. It […]

Income tax

Alternative personal income tax regime finds few takers

NEW DELHI : The old personal income tax regime, which allows certain expenses to be deducted from taxable income, remains popular among taxpayers, relatively few opting for the new alternative tax regime introduced in the 2020 finance law, according to the professionals helping taxpayers complete their returns. They said softening the simplified tax system could […]

Foreign investments

Initiatives to stimulate domestic and foreign investment | Udaipur News | Latest news from Udaipur

The government has taken various measures to boost domestic and foreign investment in India. These include reducing corporate tax rates, alleviating the liquidity problems of NBFCs and banks, improving the ease of doing business, FDI policy reforms. , reduction of the compliance burden, policy measures to boost domestic manufacturing through government orders, phased manufacturing program […]

Income tax

Income tax return due date 2021 deadline RTI filing Online payment Refund status New portal website

New Delhi: Due date of the income tax return (RTI) is December 31, 2021. All taxpayers, who have not yet completed their tax returns for tax year (YY) 2021-2022 must file their returns early to avoid the last minute rush. When filing the ITR, taxpayers should be aware of the details provided by Income Tax […]

Corporate profits

Industrial growth declines even as corporate profits hit all-time highs

Amid the pandemic gloom and weak economic recovery, corporate profits have skyrocketed to all-time highs, as have the stock markets. In FY21, net profit of listed companies (over 4,000) hit an all-time high, rising 57.6% to 5.31 lakh crore, and its share in GDP peaked in 10 years of 2.63%. Commenting on the performance of […]

Income tax

Focus Beyond Personal Income Tax, Sanwo-Olu told JTB

Babajide Sanwo-Olu, Governor of Lagos, called on the Joint Tax Board (JTB) to extend its scope beyond personal income tax (PIT) to other tax areas. JTB is the supreme body of all tax authorities in Nigeria. Gboyega Akosile, the governor’s chief press secretary, said Sanwo-Olu disclosed this on Tuesday at the 149th Joint Tax Board […]

Income tax

GOP leaders in search of “moonlight” for Iowa income tax | New policies

ALTOONA – With a state surplus approaching $ 2 billion, a key Senate Republican has said his majority caucus is seeking a “moonlight” change in state tax policy, in the ultimate goal of eliminating income tax at some point. Sen. Dan Dawson, R-Council Bluffs, chairman of the Senate Ways and Means Committee, told an Iowa […]

Foreign investments

Pacquiao plans to attract foreign investment using its global fame

Senator Manny Pacquiao says he has “at least 10 international billionaire friends” who wish to invest in the country Boxing champion-turned-politician Senator Manny Pacquiao said he would use his global fame to attract foreign direct investment to the Philippines, if elected president. On Thursday, Nov. 18, Pacquiao said he had “at least 10 international billionaire […]

Foreign investments

Pacquiao promises to use status to attract foreign investment

Photo from Senator Manny Pacquiao’s Twitter page MANILA — Presidential candidate Senator Manny Pacquaio said Thursday he would use his celebrity status to attract foreign investment to the country and provide jobs for the poor. Pacquiao said he has at least 10 international billionaire friends who are committed to investing their money in the Philippines. […]

Income tax

Essential information when completing your corporate income tax return

* This content is brought to you by Arro By Hélène Fourie Completing the corporate income tax return (ITR14) is becoming increasingly difficult for some taxpayers due to the required information and details that must be disclosed for SARS to issue an accurate assessment. Helen Fourie Failure to provide full disclosure and correctly complete prescribed […]

Corporate profits

Joe Biden targets corporate profits, rich to pay $ 1.75 trillion spending bill

President Biden on Thursday proposed a series of new taxes on business and the wealthy, arguing it was time to end the era of the “trickle-down economy.” After months of negotiations and delays, Mr Biden announced the tax increases under his long-standing $ 1.75 trillion social protection and climate change bill. Taken together, the deal […]

Corporate profits

Warren Introduces Bill to Levy 15% Minimum Tax on Corporate Profits

As Democrats run out of options to fund their reconciliation bill, key senators including Senator Elizabeth Warren (D-Massachusetts) have introduced a bill that would ensure big corporations pay a rate minimum tax. This would prevent companies from exploiting the tax system to pay a zero or negative effective tax rate. Minimum corporate income tax would […]

Corporate profits

Democrats unveil minimum corporate profit tax forcing richest companies to pay 15% rate

Three Democratic senators on Tuesday unveiled a bill that would require around 200 U.S. companies to pay a minimum tax rate of 15% The proposal, titled “The Corporate Profits Minimum Tax” is sponsored by Senators Elizabeth Warren (D-Mass.), Angus King (I-Maine) and Senate Finance Committee Chairman Ron Wyden (D-Ore.) And co-sponsored by Senators Michael Bennet […]

Foreign investments

Premium conditions for large foreign investments in Ukraine

Contents Premium solution for large investments Which projects can benefit from state support? What state support will be available? What are the practical challenges for foreign investors? Investors looking for long-term opportunities in emerging markets always value the political, economic stability and transparency of government institutions. These factors determine the viability of the project: whether […]

Corporate profits

Is the global economic climate changing? —MercoPress

Taxing Corporate Profits: Is a Change Coming in Global Economic Conditions? Saturday, June 12, 2021 – 08:00 UTC Full article If he makes it through all of this, companies like Microsoft will no longer be able to protect their profits from prying taxes. By Gwynne Dyer – It’s not Bretton […]

Corporate profits

Biden must curb corporate profits and power to achieve historic gains

President Joe Biden’s US Jobs Plan, which is integral to his agenda to build an economy that empowers workers and families in the United States, promises unique investments in the long-neglected safeguards of our economy. Part of the package has raised the particular anger of corporate lobbyists and laissez-faire conservatives: raising the corporate tax rate […]

Foreign investments

How foreign investment in the digital ecosystem can catalyze a robust economy

Lesotho is a name that is unknown to most of us and that doesn’t ring a bell because we don’t know. It is a landlocked country within the borders of South Africa. A very small landlocked country, Lesotho is a more popular name in the United States and in European countries due to the fact […]

Corporate profits

Biden tax plan recovers $ 2 trillion in overseas corporate profits: Treasury

US President Joe Biden receives an economic briefing with Treasury Secretary Janet Yellen in the Oval Office of the White House in Washington, January 29, 2021. Kevin Lamarque | Reuters Treasury Secretary Janet Yellen on Wednesday touted the Biden administration’s proposed changes to the corporate tax code and said in detail the plan would be […]

Foreign investments

Foreign investments in Lebanon for medical cannabis investors

On April 20, 2020, the Lebanese Parliament passed a law authorizing the cultivation, trade, research and use of medical cannabis. The adoption of the law by Lebanon creates an opportunity for leading medical cannabis companies around the world to enter the Lebanese market. There are six categories of license applicants, including foreign companies licensed in […]

Corporate profits

Mills’ corporate profit tax break is bad policy and worse policy

Eighty-two million dollars is a lot of money. For a state in the throes of a deadly pandemic, this could be a lifeline. People who have lost their jobs or their homes could desperately use this type of support at this time. The same goes for small businesses that barely keep their doors open. The […]

Annual profits

New Geothermal Capacity Significantly Contributes to KenGen’s Annual Profit Increase | Think GeoEnergy

Construction of the Olkaria V geothermal power plant, Kenya October 2018 (source: LinkedIn / Roberto Razo) KenGen reports higher profits for the fiscal year ended June 2020, largely attributed to the new 165 MW Olkaria V geothermal power plant and revenues from the geothermal services business. The target for 2021 is now to deliver the […]

Foreign investments

Removal of tax on dividend distributions will help attract foreign investment

In a bid to revive the Indian economy and restart an investment cycle in India, Finance Minister Nirmala Sitharaman, in an unprecedented move, reduced the corporate tax rate to 15% for new manufacturing companies and 22% for other companies. To move forward in this direction, the 2020 Union budget gives new impetus by abolishing the […]

Corporate profits

Falling corporate profits reinforce recession fears in the United States

Profits of companies listed on the S&P 500 are expected to fall nearly 3% this quarter. This represents a significant slowdown from the rapid growth in corporate profits last year. A report published this week by Oxford Economics calls these profit problems a “bad omen” for the economy. There are growing concerns that the financial […]

Corporate profits

Elizabeth Warren targets corporate profits with new 7% surtax proposal

Senator Elizabeth Warren (D-MA), one of many Democrats to run for the party’s nomination in the 2020 presidential race, detailed progressive political ideas on workplace issues, including government financial support for working parents to cover childcare costs. drew anger | Getty Images Elizabeth Warren, the economic policy maker in the Democratic presidential primary, wants to […]

Corporate profits

Corporate Profits? Federal Corporate Tax Collections? – ITEP

Data released by the US Treasury Department on Friday confirms that President Trump’s tax law eliminated corporate income tax, despite claims by his supporters that the law’s corporate tax cuts would be in effect. somehow profitable. This should be of concern to anyone who wants government to work. The new data confirms that tax revenues […]

Foreign investments

Duterte’s tax reform slows down foreign investment

MANILA – Foreign direct investment in the Philippines fell 4.4% year-on-year to $ 9.8 billion in 2018 as investors fear President Rodrigo Duterte’s proposed tax reform will harm the environment investment of the country. FDI fell for the first time since 2015. Duterte’s first two years in office saw record investment in the country. Although […]

Corporate profits

For corporate profits, is it as good as it gets?

1. Peak gains: American corporate profits are growing at breakneck speed. A perfect storm of huge corporate tax cuts, strong economic momentum and rising oil prices are expected to push S&P 500 earnings up nearly 20% this year. Businesses haven’t minted money so quickly since 2010, the first full year after the Great Recession, according […]

Corporate profits

Two-thirds of corporate profits are now held in tax havens – Mother Jones

The Republican tax bill has many, many weird provisions that I am only just discovering now. For example, did you know that it prohibits tax-free obligations for the construction of sports stadiums? I like this one, actually, although I’m not quite sure it’s rationale. But whatever the reason, they’re little potatoes. How much money is […]

Corporate profits

Trump’s tax cut could add 20% to corporate profits

According to Standard & Poor’s Investment Advisory Services (SPIAS), U.S. companies could benefit from a significant increase in profits if President-elect Donald Trump keeps his corporate tax cut campaign promise. The current federal corporate tax rate in the United States is among the highest in the world at 35%, while the effective tax rate was […]

Corporate profits

If corporate profits are increasing, then why are corporate tax revenues decreasing?

Apparently this is one of the great scandals of our time. The way corporate profits are soaring ever higher and yet corporate tax revenues are falling to increasingly low levels as a percentage of both GDP and total tax revenues. Obviously, this has been some change in the war between the plutocrats and the people […]

Corporate profits

The Myth of Corporate Profits

Where’s the proof of the r > g crowd’s favorite talking point? HAre rising corporate profits coming at the expense of the American worker? Venture capitalist and billionaire Nick Hanauer seems to think so. As he puts it, “Corporate profits are at their highest in 50 years while unemployment is also at their highest in […]

Corporate profits

Corporate profits rise and wages slide

Corporate profits are at their highest level for at least 85 years. Employee compensation is at its lowest for 65 years. The Commerce Department estimated last week that companies earned $ 2.1 trillion in 2013 and paid $ 419 billion in corporate taxes. After-tax profit of $ 1.7 trillion was 10% of gross domestic product […]

Corporate profits

What Another Record Year of Corporate Profits Means for the U.S. Economy – Quartz

Last year was another record year for corporate America. New numbers published today show they made a record after-tax profit of $1.68 trillion: Or perhaps you would prefer this result expressed as a share of the total national income of the United States? Yes, still a record. This is not a surprise: since the recession, […]

Corporate profits

If corporate profits are at an all-time high, why are corporate taxes near their 60-year low?

Apple is a unique company in many ways, but when it comes to the cavernous difference between its historically high profits and relatively low corporate tax rate, the company is no exception. It is a microcosm. In fact, corporate profits have been rising as a share of the economy since the early 1980s…just as the […]

Corporate profits

Bringing foreign company profits back to the U.S. isn’t necessarily a job boost

US companies would rather keep offshore profits offshore than face 35%… [+] in corporate income taxes. Should they bring him back? Republicans want another tax holiday. The White House is okay with that, as long as it’s part of long-term corporate tax reform. Letting U.S.-domiciled multinationals take profits overseas at less than the current top […]