economic growth

FACTBOX-Key issues for South African voters in wide open 2024 election

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FACTBOX-Key issues for South African voters in wide open 2024 election

South Africans will vote in a national election on May 29 with uncertainty about the outcome, as polls suggest the African National Congress may lose its majority after 30 years in power. Key issues include high unemployment rates, sluggish economic growth, power cuts, corruption scandals, high rates of violent crime, and rising anti-immigrant sentiment. The government is working to address these issues, with a focus on job creation, economic growth, and tightening immigration laws.

Shell Nigeria pays $1.09 billion taxes, royalties in 2023

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Shell Nigeria pays $1.09 billion taxes, royalties in 2023

Shell Nigeria paid .09 billion in corporate taxes and royalties to the Government of Nigeria in 2023 through the operations of SPDC and SNEPCo.

China and the opportunity from its development of new quality productive forces

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China and the opportunity from its development of new quality productive forces

China’s GDP grew by 5.2% last year, reaching 126 trillion yuan. Jinzhou, an old industrial city in northeast Liaoning Province, has found new growth momentum in the transformation and upgrading of traditional industries.

Options for Navigating the 2025 Tax Cuts and Jobs Act Expirations

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Options for Navigating the 2025 Tax Cuts and Jobs Act Expirations

The text discusses the upcoming expiration of the 2017 Tax Cuts and Jobs Act (TCJA) in 2025 and provides insight into various tax reform options. Lawmakers will need to decide on priorities for tax reform, including maintaining the TCJA policies or implementing fundamental reforms. The text outlines two alternative reform options that focus on better cost recovery for business investment, lower individual rates, and a broader tax base. These options aim to grow the economy, provide revenue, and avoid increasing the deficit. Lawmakers are encouraged to prioritize growth and fiscal responsibility in designing tax legislation to prevent a tax hike in 2025.

New Trump Tax Cuts Could Cost $4.6 Trillion, Bipartisan Watchdog Agency Says

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New Trump Tax Cuts Could Cost $4.6 Trillion, Bipartisan Watchdog Agency Says

The cost of extending the 2017 tax cuts for households, small businesses, and wealthy individuals enacted under President Donald Trump has expanded to .6 trillion, according to new estimates from Congress’ fiscal scorekeeper.

Bank of England moves closer to first rate cut since 2020

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Bank of England moves closer to first rate cut since 2020

The Bank of England’s Monetary Policy Committee voted 7-2 to keep interest rates at 5.25 per cent, with Deputy Governor Dave Ramsden and Swati Dhingra voting for a cut to 5 per cent. The BoE hinted at a potential rate cut in June and emphasized the importance of upcoming economic data releases. Governor Andrew Bailey expressed optimism about the direction of inflation.

‘Wealth tax could send billionaires from India to Dubai, impractical’: economist

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‘Wealth tax could send billionaires from India to Dubai, impractical’: economist

Gautam Sen cautioned against the implementation of a wealth tax in India, warning that it could lead to wealthy individuals relocating their businesses to tax-friendly destinations like Dubai.

Chestertons Global launches in Cyprus

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Chestertons Global launches in Cyprus

Chestertons Global has expanded into the Cyprus property market with the launch of Chestertons Cyprus Residential, which will operate out of two premises in Paphos.

Cybersecurity levy, other taxes to fuel inflation and impede business growth – CPPE

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Cybersecurity levy, other taxes to fuel inflation and impede business growth – CPPE

The Centre for the Promotion of Private Enterprise (CPPE) in Nigeria has stated that the newly introduced cybersecurity levy and other taxes are impeding businesses’ capacity to drive economic growth, leading to job losses and inflation.

Inheritance Tax Will Lead To Economic Chaos In India: Economist Gautam Sen

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Inheritance Tax Will Lead To Economic Chaos In India: Economist Gautam Sen

– Economist Gautam Sen believes that the notion of an inheritance tax is unrealistic and labeled Congress leader Rahul Gandhi’s suggestion of a “wealth survey” as impractical.
– Sen expressed concerns that conducting surveys of all households and businesses for wealth redistribution would result in economic turmoil.
– Around 2.4 per cent of people pay taxes in India, of which not more than 1.2 million have personal assets.
– Sen mentioned that the very rich individuals in India may migrate to Dubai to avoid taxes if wealth redistribution measures are implemented.
– Sweden removed its inheritance tax and saw an increase in wealth, economic growth, and tax collection.
– Sen believes that the current combination of wealth creation and redistribution in India is working well.
– Congress leader Sam Pitroda had advocated for exploring inheritance laws in India, drawing parallels with the United States where there is no inheritance tax, but rather estate duty and gift tax paid by a small percentage of deceased individuals.