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
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
The EURGBP cross remains on the defensive around 0.8425 during the early European session on Thursday, trading with mild losses after the monthly UK Gross Domestic Product data. The UK economy grew more than expected in May after stagnating in April, with the GDP expanding at 0.4% MoM. This figure beat market expectations of 0.2% … Read more
Expenditure on furniture ordered from foreign countries by Kenyan traders and households has continued to grow by double-digit rates despite increased taxation and government directives requiring agencies to cut imports. About Sh8.69 billion was spent on furniture, beddings, mattresses, and furnishes in the nine months through March 2024 following the application of 45 percent import … Read more
The first 2024 presidential debate on Thursday saw President Joe Biden and former President Donald Trump go head-to-head in Atlanta, Georgia, moderated by CNN.The two candidates sparred on everything from taxes to the national debt, highlighting crucial economic issues that are top of mind for entrepreneurs. Fox Business reported that U.S. stock futures were higher … Read more
The total corporate tax burden amounted to 81.6 trillion won (approximately $58.8 billion) last year, showing a decrease of 6.2 trillion won from the previous year. It was revealed that the number of corporations that filed corporate taxes last year exceeded one million. Among them, a significant portion, totaling 400,000 corporations, reported losses. According to … Read more
Finance Minister Nirmala Sitharaman is reportedly mulling significant relief for India’s lower-income earners with tax cuts for the first time in seven years. The tax cuts are believed to be part of a consumption-boosting package worth nearly $6 billion in the upcoming Budget, a Bloomberg report has claimed. Related Articles The move will reportedly benefit … Read more
Amid a sharp rise in personal income tax collection, individual taxpayers are hoping for respite in the Union Budget 2024-25 and indications are that the government may look at reviewing some of the tax rates.According to sources, one of the measures being considered is to increase spending capacity of people in the face of high … Read more
The US Dollar is holding steady early Wednesday, as investors gear up for key macroeconomic events that could significantly impact the currency’s valuation. The Bureau of Labor Statistic will release the Consumer Price Index data for May in early U.S. trading. Later in the day, the Federal Reserve will announce monetary policy decisions and publish … Read more
A total of 5,352 candidates are ready to sit the 2024 island wide examinations for entry into public universities of Cyprus and Greece.On Monday 2,142 graduates are expected to take the English exam, with Minister of Education Athena Michaelidou visiting the Kykkos II lyceum in Engomi at 7.30am to wish students well. Head of the … Read more