By Nathan Garden, The Charlotte Observer (TNS) It says a lot about our politics that very few of our leaders are talking about one of the most important issues. The small businesses that anchor our economy are about to face a devastating tax hike that will hurt workers and weaken communities. As the owner of … Read more
Direct tax collection: The Central Board of Direct Taxes on Friday released the data on Direct Tax (DT) collections till July 11, 2024, for FY 2024-25. The net direct tax collections have increased by 24.07% to Rs 5.74 lakh crore. In FY23, the net collections stood at Rs 4.80 lakh crore. This includes corporate taxes of Rs … Read more
Georgia continues to see healthy tax revenues coming into state coffers. According to Governor Brian Kemp’s office, net tax revenue for June came in at $3 billion, a 6.5% increase from June 2023.Much of that growth was driven by a nearly 32% increase in money from corporate taxes. State officials issued less in corporate tax … Read more
Growth in India’s net direct tax collections slowed slightly to 19.54% by July 11, relative to a 21% rise recorded by June 17, with revenues hitting ₹5.74 lakh crore, the Income Tax department said on Friday.Personal income tax (PIT) receipts constituted 60.2% of the net collections at ₹3.46 lakh crore, rising 21.4% year-on-year, while corporate … Read more
Jul 12, 2024 – 3.55pmSubscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Australian businesses face the second-highest corporate tax rate in the developed world, a new report shows, prompting economists to warn that the uncompetitive tax system is stifling investment and making workers poorer.Australian … Read more
There is increasing attention on the U.S.’s Global Intangible Low-Taxed Income (GILTI) tax and its interaction with new minimum tax rates taking effect around the world under the international Pillar Two initiative. GILTI is currently being reviewed in detail by tax authorities who are looking at how the U.S. might align it with the international … Read more
Statutory corporate tax rates are stabilising worldwide after a lengthy period of falling rates, according to new OECD data released today. The 2024 edition of OECD Corporate Tax Statistics shows that average statutory corporate income tax (CIT) rates have remained steady at 21.1% over the past three years. This follows a two-decade period that saw … Read more
Trump Tax Plan 2024: Details & Analysis Skip to content Home • Blog • Trump’s Tax and Tariff Ideas: Details & Analysis Trump has not released a fully detailed taxA tax is a mandatory payment or charge collected by local, state, and national governments from individuals or businesses to cover the costs of general government … Read more
Vietnam’s draft Corporate Income Tax (CIT) Law proposes changes to incentive eligibility, taxation on capital transfers by foreign investors, and aims to address limitations hindering integration with international best tax practices. Investors and businesses planning market entry or expansion should closely monitor the draft CIT law’s development and prepare for potential impacts on their strategies … Read more
As we find ourselves in a crucial period of economic transition, with positive but slowing growth, we are facing some critical policy decisions with major impacts on consumers, the retail industry and the broader economy. National Retail Federation Chief Economist Jack Kleinhenz recently highlighted that, much like in 2017, we are in a phase of waiting … Read more