The American Institute of CPAs (AICPA) has submitted comments to the Department of the Treasury and the Internal Revenue Service (IRS) on the excise tax on repurchase of corporate stock proposed regulations, which address the application of the new excise tax on repurchases of corporate stock under section 4501. Section 4501(a) was enacted as part … Read more
If you’ve been on social media or tuned into the news lately, you may have heard about Project 2025, a controversial policy blueprint developed by the Heritage Foundation. A 900-page mandate from the conservative think tank is getting attention for its eyebrow-raising proposals. The legal organization, Democracy Forward has described Project 2025 as “among the most … Read more
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The title page reads, “Mandate for Leadership, the Conservative Promise — Project 2025, Presidential Transition Project.” What follows are 920 pages of sweeping changes for the “next conservative president” to put into effect or, if not sufficiently empowered, to recommend to Congress. From abortion to veterans affairs, the anthology of 30 chapters, each by a … Read more
A planned 1% cut in the corporation tax rate from next year is expected to cost the state around €38 million annually, Finance Minister Gilles Roth said on Tuesday.Under the plan, the corporate tax rate will be reduced from 17% at present to 16% from 1 January next year, bringing it in line with the … Read more
The Kenya Revenue Authority (KRA) missed its target for the full year ended June by Sh267 billion, hurt by reduced corporate profits and job cuts in a period when businesses were devastated by the depreciation of the shilling and high energy prices. The taxman collected Sh2.22 trillion in ordinary revenue, an increase of 9.5 percent … Read more
Having secured a landslide victory as expected in last week’s election, Labour’s Keir Starmer has a unique opportunity to reshape the UK’s financial landscape by positioning it as a global cryptocurrency hub, according to the CEO of a leading financial advisory and fintech. “To date, Starmer’s stance on crypto remains somewhat nebulous,” said Nigel Green … Read more
WASHINGTON, D.C. — The Department of the Treasury and the Internal Revenue Service (IRS) recenlty issued final regulations detailing how corporations should report and pay the new 1 percent excise tax on stock repurchases. This tax was introduced by the Inflation Reduction Act and applies to stock repurchases made after December 31, 2022. The new … Read more
It cannot be stressed enough that the corporation as a taxpaying entity is a fiction. And the previous assertion should in no way be construed as a suggestion that corporations pay no taxes. Quite the opposite. At the same time, this write-up’s opening line is just a comment that shareholders pay all corporate taxes, which … Read more
President Yoon Suk Yeol announces the Dynamic Economy Roadmap and the Economic Policy Direction for the latter half of the year at the Blue House in central Seoul on Wednesday. [YONHAP] The government plans to reduce corporate and inheritance taxes for companies in the “value-up program” and more than double the number of foreign … Read more