Today: September 16, 2024
Today: September 16, 2024

Taxation

Americas

Keep global tax negotiations at OECD, not UN, Yellen says

U.S.

Keep global tax negotiations at OECD, not UN, Yellen says
Economy|Europe

German cabinet agrees to expand tax relief to boost economy

Germany's cabinet agreed on Wednesday to increase tax relief for companies and households to almost 21 billion euros per year to help bolster stuttering growth

German cabinet agrees to expand tax relief to boost economy
Economy|Finance

G20 to back progressive taxation, without endorsing 'billionaire tax,' sources say

G20 finance leaders meeting in Brazil are preparing a joint statement for Thursday in support of progressive taxation that will stop short

G20 to back progressive taxation, without endorsing 'billionaire tax,' sources say
Business|Economy

Wind power can be a major source of tax revenue, but officials struggle to get communities on board

An Associated Press analysis of county tax data across three states — Illinois, Iowa and Nebraska — found wind companies rank among the biggest taxpayers in many rural communities, with their total tax bills at times outstripping that of large farms, power plants and other major businesses

Wind power can be a major source of tax revenue, but officials struggle to get communities on board
Business|Economy|Finance

India will not sign global tax deal until its concerns are addressed, official says

India will not sign a global corporate tax deal focused on highly profitable multinational firms unless its concerns on dispute resolution and the

India will not sign global tax deal until its concerns are addressed, official says
Economy|Finance

G20 agree to work on Brazil's 'billionaire tax' idea, implementation seen difficult

The world's 20 biggest economies (G20) agreed on Thursday to work together to ensure the ultra rich are effectively taxed, in a declaration that seeks a

G20 agree to work on Brazil's 'billionaire tax' idea, implementation seen difficult
Economy|Finance

Brazil cheers G20 statement on tax cooperation citing taxation of the super-rich

Brazilian Finance Minister Fernando Haddad said on Thursday that G20 finance leaders were poised to endorse a joint declaration on international tax cooperation addressing

Brazil cheers G20 statement on tax cooperation citing taxation of the super-rich
Economy|Finance

UK finance minister expected to reveal 20 billion stg hole in public finances, Guardian reports

Britain's new finance minister Rachel Reeves is expected to reveal a 20 billion pound ($25.7 billion) shortfall in the public finances, potentially paving the way for tax rises in

UK finance minister expected to reveal 20 billion stg hole in public finances, Guardian reports
Business|Economy|Europe|Fashion and Beauty

End of tax loophole risks dimming Shein's IPO appeal, investors say

Moves by authorities in the European Union and elsewhere to end tax breaks for low-value parcels threaten Shein's profitability and risk denting the fast fashion

End of tax loophole risks dimming Shein's IPO appeal, investors say
Business

Microsoft receives tax notice from IRS

Microsoft said on Wednesday it had received notices from the Internal Revenue Service (IRS) in September, seeking an additional tax payment of $28.9 billion, plus penalties and interest

Microsoft receives tax notice from IRS
Business|News

Deal to force multinational companies to pay a 15% minimum tax is marred by loopholes, watchdog says

An ambitious 2021 agreement by more than 140 countries and territories to weed out tax havens and force multinational corporations to pay a minimum tax has been weakened by loopholes and will raise only a fraction of the revenue that was envisioned, a tax watchdog backed by the European Union has warned

Deal to force multinational companies to pay a 15% minimum tax is marred by loopholes, watchdog says
World

Taiwan hopeful of reaching tax deal with US next year

Taiwan hopes to reach a long-mooted tax agreement with the United States next year, Finance Minister Chuang Tsui-yun said on Wednesday, which both sides have said will foster more

Taiwan hopeful of reaching tax deal with US next year
Business

Canada optimistic about digital services tax agreement with US

Canadian Finance Minister Chrystia Freeland said on Tuesday

Canada optimistic about digital services tax agreement with US
Business|News|Political

Treasury's Yellen calls Republican effort to cut IRS funding for Israel 'damaging and irresponsible'

The IRS commissioner says for the agency to keep building on its customer service and enforcement priorities it needs a reliable funding stream

Treasury's Yellen calls Republican effort to cut IRS funding for Israel 'damaging and irresponsible'
Business

Canada tax rule curbs Airbnb deductions to ease rental shortage

Canada introduced tax measures on Tuesday to ease a severe rental housing shortage by limiting income tax deductions on short-term rentals on services such as Airbnb Inc and VRBO,

Canada tax rule curbs Airbnb deductions to ease rental shortage
Economy

Vietnam set to raise effective tax rate on multinationals as part of global deal

Vietnam's parliament is set to approve on Wednesday a top-up tax for multinationals, which will raise the effective rate of the corporate levy to 15% from January in line with a

Vietnam set to raise effective tax rate on multinationals as part of global deal
Business

US Treasury unveils rules for clean energy manufacturing subsidy

The U.S.

US Treasury unveils rules for clean energy manufacturing subsidy
Economy

OECD sees global minimum tax reshaping investment flows

The introduction this year of a global minimum corporate tax will reshape the flow of multinationals' foreign investments as the benefits from booking profits in tax havens disappear

OECD sees global minimum tax reshaping investment flows
Business|News

IRS will start simplifying its notices to taxpayers as agency continues modernization push

The IRS wants to rewrite its complicated letters to taxpayers and speak to people in plain English

IRS will start simplifying its notices to taxpayers as agency continues modernization push
News

US IRS wants to simplify tax notices to reduce anxiety, boost compliance

The U.S.

US IRS wants to simplify tax notices to reduce anxiety, boost compliance
Business

Students lose out as cities and states give billions in property tax breaks to businesses − draining school budgets and especially hurting the poorest students

An estimated 95% of US cities provide economic development tax incentives to woo corporate investors, taking billions away from schools.

Students lose out as cities and states give billions in property tax breaks to businesses − draining school budgets and especially hurting the poorest students
Business|News|Political|World

Brazil’s finance minister proposes global tax on the super-rich at G20 meeting in Sao Paulo

Brazil’s finance minister told his peers during a G20 meeting in Sao Paulo that countries should implement a global tax on the super-rich in an effort to tackle rampant tax evasion

Brazil’s finance minister proposes global tax on the super-rich at G20 meeting in Sao Paulo
Business|News|Political

Chicago 'mansion' tax to fund homeless services stuck in legal limbo while on the ballot

An unusual legal challenge may upend the future of a Chicago ballot measure that would hike a real estate tax on high-end properties sales to pay for services for homeless people

Chicago 'mansion' tax to fund homeless services stuck in legal limbo while on the ballot
Business

US Treasury's Yellen tells MSNBC housing tax credit could help supply

U.S.

US Treasury's Yellen tells MSNBC housing tax credit could help supply
Business|News|Political

Biden proposes tax increase on fuel for private jets, casting it as making wealthy pay their share

President Joe Biden is proposing a huge tax increase on fuel used by private jets, portraying that as part of an effort to make the wealthy pay their share for services like running the nation's airspace

Biden proposes tax increase on fuel for private jets, casting it as making wealthy pay their share

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