Michael Welu worked at the IRS for decades as a specialist in helping agents identify and investigate possible tax crimes. In an agency known for offices working in their own silos, Welu had the rare ability to move between divisions, dissecting and learning each office’s particular customs and procedures. But that experience had its own … Read more
The crowning legislative achievement of Donald Trump’s first term in the White House was the passage of an unpopular tax bill that gave big corporations a massive windfall, disproportionately rewarded wealthy individuals despite being pitched as a boon for workers, and contributed trillions to the national debt. With Trump running for another four years in … 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
Unhedged podcast episode: ‘The billionaires’ tax’[MUSIC PLAYING]Robert ArmstrongThe G20 group, which represents the world’s largest economies, is discussing a billionaires’ tax for the first time. Today on the show, why are the very, very rich so very, very rich? Is it a problem and what should we do about it? This is Unhedged, the finance … Read more
The Cyprus Research and Innovation Foundation (RIF) supports startups and scaleups that have introduced innovative products and services, secured funding from business angels and venture capital firms, and expanded their reach internationally.
Fact: The Global Minimum Tax (GMT) sets a proposed rate of 15% on profits and was approved at the October 2021 Summit in Rome with an effective date of 2024.
Fact: The Conservative party aims to maintain the current Corporation Tax rate at 25% and has no plans for increases this year irrespective of the election outcome.
The European Commission issued reasoned opinions to Cyprus and other member states for failing to implement a minimum 15 per cent tax rate on large multinational corporations.
The Livingston Chamber of Commerce opposes a proposed 2.5 percent tax hike on high-earning businesses in New Jersey, which would fund NJ Transit.
Fact: The disruptions in global trade routes, such as those at the Suez Canal and Panama Canal, have significant tax implications for multinational corporations, affecting transfer pricing, profit attribution, intangible property, withholding taxes, and customs duties.