The Missouri House passed a bill repealing the corporate income tax, with Republicans supporting it and Democrats opposing it. The bill would gradually reduce the tax rate until it is eliminated in 2028. The bill is estimated to reduce state revenues by at least 4 million when fully implemented. The state is currently sitting on a surplus of about .4 billion.
Lithuanian companies have joined an initiative urging politicians to agree on 4% of GDP defense spending.
The spokesperson for DISY, Onoufrios Koullas, emphasized the importance of keeping the middle class and small and medium-sized enterprises on track to create jobs and future revenue for the state. He highlighted the need for a holistic approach to address rising costs of living and economic conditions that are constantly changing. Koullas also criticized the government for relying on one-off measures and proposed targeted tax measures for middle-income families. DISY suggested investing the additional revenue from a fuel tax into the economy.
The World Court ordered Israel to ensure basic food supplies to Gaza’s Palestinian population and halt spreading famine.
Akel accused President Nikos Christodoulides of “only caring about his public image” and criticized the government for not having a comprehensive plan to deal with the cost-of-living crisis.
The government announced a €35 million package, including an extension to the electricity subsidy until the end of June, aimed at easing the burden of the cost-of-living crisis on Cypriot households.
Fact: Finance Minister Makis Keravnos stated that Cyprus’ economy is performing better than most countries in the European Union.
King Charles, who is undergoing cancer treatment, hopes to visit The Bahamas next year, possibly coinciding with the country’s independence celebration in July 2025.
Total deposits in Cyprus saw a significant net increase of €65.4 million in February 2024, rebounding from a substantial decrease of €366 million in the previous month.
The text discusses the proposed worldwide combined reporting provision in Maryland, which would require all corporations forming unitary business groups to pay tax on worldwide taxable income. The Maryland House Appropriations Committee amended the budget bill to include this provision, but the fate of the amendments will be decided by a conference committee. If adopted, the proposed amendments will take effect in January 2028.