High share of overqualified workers, ICT sector thrives
Cyprus is among the top countries in Europe in terms of the gross value added by the provision of services in the information and communication technology sector.
pandemic
When institutions work
Corruption is a common element in politics, with different countries handling corruption cases in varying ways. In Spain, the judiciary is investigating Prime Minister Pedro Sánchez’s wife for allegedly using her influence to secure a bailout for an airline, followed by funding for a research program. The media and judges will ultimately decide the outcome, and despite the accusations, no defamation lawsuits have been filed. Former French President Nicolas Sarkozy is facing legal troubles for illegal campaign financing, with media extensively covering the case. Sarkozy has been stripped of his political rights for three years, and no lawsuits have been filed to stop media coverage.
President Biden’s Budget Calls for Raising $4.3 Trillion in Revenues Over Ten Years — Here’s How
The Biden Administration released a budget proposal for the 2025 fiscal year that includes tax proposals generating .3 trillion over the next decade. The most significant proposals include increasing taxes on corporations and high-income taxpayers.
House extends funding for Okypy deficits
The House plenum approved extending government grants to cover Okypy’s deficits until May 31, 2025.
Innovative strategies: How London tech recruiters can attract Yii developers
Fact: Businesses are increasingly relying on web applications and platforms to drive growth and innovation, leading to a higher demand for talented developers proficient in frameworks like Yii.
Why Spain’s Prime Minister Sanchez is taking a break from public duties
Spanish Prime Minister Pedro Sanchez has decided to suspend his public duties until next week to consider whether he wants to continue leading the government after a court launched a preliminary investigation against his wife, Begona Gomez. The court is investigating allegations of influence peddling and business corruption against Gomez, who is accused of using her influence to secure sponsors for a university master’s degree course. Sanchez has defended his wife, claiming she has done nothing illegal and is being attacked to weaken him politically and personally. The outcome of this investigation could lead to Sanchez remaining as prime minister, resigning, or facing a confidence vote. In Spain, corruption cases involving politicians and their associates are not uncommon, with high-profile scandals resulting in convictions.
HMRC collected £95.2 billion in business taxes in the last tax year – Accountancy Age
Fact: £95.2 billion was collected in business taxes from April 2023 to March 2024.
Cabinet approves extension to state health service funding
The Cabinet approved a bill granting a one-year extension to the state health services (Okypy) to address deficits. The bill will head to plenum on Thursday before its operations are suspended ahead of the upcoming elections.
Changes to capital-gains tax may prompt doctors to quit, CMA warns
Doctors in Canada are concerned about the federal government’s proposed increases to capital-gains taxes, which could have a significant financial impact on them. The changes will affect physicians who operate their practices through medical professional corporations, as they will be taxed at a higher rate on capital gains. The Canadian Medical Association conducted a survey in 2021 that found a deterioration of doctors’ mental health during the pandemic, with 47% describing themselves as “flourishing” that year, down from 63% in 2017.
Govt may lower corporate tax to encourage compliance
The government may reduce the corporate tax rate in fiscal 2024-25 to encourage compliance and boost collection, with the National Board of Revenue likely proposing a 2.5 percentage point reduction for both listed and non-listed companies.