Shareholders at three of the world’s largest oil companies recently turned down tax transparency proposals from an activist investor. At Chevron, a proposal to publicly report the company’s earnings and tax bills in every country where it operates was defeated on May 29; 85% of votes were against the proposal. The shareholders followed recommendations from … Read more
Union Budget 2024: Industry leaders requested a host of considerations in the upcoming full Union Budget 2024 during their pre-Budget meeting with Finance Minister Nirmala Sitharaman on June 20. Expectations listed by India Inc. during the two-hour interaction include a reduction in the income tax burden for the common man, an increase in capital expenditure, … Read more
New Delhi, Jun 18, 2024, IANS New Delhi, June 18 (IANS) Apex business chamber Confederation of Indian Industry (CII) has in its wish list for the Union Budget 2024-2025 urged the government to maintain corporate tax rates at current levels to provide tax certainty for businesses. “Industry deeply appreciates the government’s move to maintain stability … Read more
Apex business chamber Confederation of Indian Industry (CII) has in its wish list for the Union Budget 2024-2025 urged the government to maintain corporate tax rates at current levels to provide tax certainty for businesses. “Industry deeply appreciates the government’s move to maintain stability in tax rates despite the tumultuous economic and political developments in … Read more
While more strategic tax leaders are most concerned that the 2024 election will result in changes to certain Inflation Reduction Act renewable energy credits, tax tacticians are most concerned about changes to federal corporate tax rates, according to a new survey from top six accounting firm BDO USA. BDO’s 2024 Tax Strategist Survey, which was released … Read more
Cyprus is excelling in the fields of research and innovation, according to Deputy Minister of Research, Innovation, and Digital Policy Nikodimos Damianou. Damianou this week visited the Cyprus Institute, where he met with its president Stavros Malas, as well as members of the administrative staff. Damianou expressed his delight at Cyprus’ leading position in research … Read more
Click here to download Briefing Memo on Foreign-Derived Intangible Income (FDII) The 2017 tax reform massively reshaped how U.S. multinationals are taxed on their foreign income, including through the application of a global minimum tax that grants corporations a substantial discount on their foreign profits. This discount gave big multinationals new incentives to stash their … Read more
Strategic tax leaders are especially concerned the November U.S. presidential election will lead to changes to certain Inflation Reduction Act renewable energy credits, while tax tacticians are most concerned about changes to federal corporate tax rates, according to a new survey.The 2024 BDO Tax Strategist Survey, released Monday, pointed out that the outcome of the … Read more
KARACHI: Approximately 210 multinational companies (MNCs) in Pakistan operating in sectors like tobacco, oil, auto, pharmaceuticals, banking and others contribute a third of the total tax collection and make a major contribution to the national exchequer. They also reinvest in their respective units or inject capital into some new ones. Moreover, they make investments of … Read more
House Republicans hoping to extend the 2017 tax cuts are beginning to systematically examine tax provisions in the Democrats’ landmark climate law. Whether those climate provisions will land on the chopping block remains to be seen. On Wednesday, a Ways and Means Committee “tax team” focused on manufacturing and energy will meet for the first … Read more