inflation

How Does the TCJA Sunset Affect Business Taxation Going Forward | JD Supra

by
How Does the TCJA Sunset Affect Business Taxation Going Forward | JD Supra

– The Tax Cuts and Jobs Act (TCJA) has important segments scheduled to expire on December 31, 2025.
– The US corporate tax rate was reduced from 35% to 21% and is not scheduled to sunset.
– The Qualified Business Income (QBI) Deduction of 20% for passthrough entities is scheduled to end in 2025.
– Bonus depreciation deductions are scheduled to decrease over the years and eventually sunset.
– The TCJA repealed the Alternative Minimum Tax (AMT) for corporations.
– It is important to consult a tax attorney for domestic and international tax planning for corporate entities post-2025.
– The Corporate Transparency Act requires small corporate entities to disclose ownership interests.
– Congressional decisions on QBI deductions and AMT may be impacted by reporting requirements under the Corporate Transparency Act.

HMRC collected £95.2 billion in business taxes in the last tax year – Accountancy Age

by
HMRC collected £95.2 billion in business taxes in the last tax year - Accountancy Age

Fact: £95.2 billion was collected in business taxes from April 2023 to March 2024.

WTI over $83 as more volatility for crude oil

by
WTI over $83 as more volatility for crude oil

– WTI fell below .00 per barrel before recovering above .00.
– US Purchasing Managers Index (PMI) figures were softer than expected.
– Crude oil markets are exposed to downside moves as geopolitical tensions ease.
– US GDP figures are expected to ease to 2.5% from the previous 3.4%.
– The PCE Price Index inflation data is forecast to hold steady at 0.3% MoM.
– WTI crossed .00 per barrel and rallied above the 200-hour EMA.
– Despite the rally, WTI is down around 4.5% from April’s swing highs near .00 per barrel.

Fixed yields attract investors ahead of rate cuts

by
Fixed yields attract investors ahead of rate cuts

Investors are rushing into fixed yield opportunities before interest rates are cut, as central banks signal looser monetary policies due to cooling inflation.

PepsiCo, ’s results beat as international demand, higher prices drive growth

by
PepsiCo, ’s results beat as international demand, higher prices drive growth

PepsiCo beat Wall Street expectations for first-quarter revenue and profit due to strong demand for its sodas and snacks in international markets, while experiencing a slowdown in the United States.

Murphy wants corporate tax to help NJ Transit, but business leaders say raise sales tax

by
Murphy wants corporate tax to help NJ Transit, but business leaders say raise sales tax

NJ Transit’s board approved a fare increase of 15% on July 1 and 3% every year after that.

Direct tax collections shoot past budget target by Rs 1.35 lakh cr in 2023-24 – Greater Kashmir

by
Direct tax collections shoot past budget target by Rs 1.35 lakh cr in 2023-24 - Greater Kashmir

The net direct tax collections for the financial year 2023-24 exceeded the Union Budget Estimates by Rs 1.35 lakh crore or 7.4%, reaching Rs 19.58 lakh crore.

New Brexit border checks could stifle fine food imports from EU, warn sellers

by
New Brexit border checks could stifle fine food imports from EU, warn sellers

– Panzer’s delicatessen in north west London has lost 37 suppliers from the European Union since Britain left the bloc’s single market in 2021.
– EU exporters of chilled and frozen meat, fish, cheese, dairy products, and some cut flowers have had to present health certificates signed off by a vet or plant inspector since Jan. 31.
– The start of physical checks, along with higher charges from April 30, will restrict the variety and freshness of fine artisan foods and prices will rise.
– The government says the new checks will help prevent diseases and pests entering Britain and level the playing field for British exporters.
– Delicatessen owner Josephs believes Brexit has been a disaster for his business and fears supply disruption.
– Importing costs have increased significantly since Brexit, with additional fees and charges impacting profit margins.
– The UK government estimates that its border rules will increase costs for importers collectively by 330 million pounds a year and increase food inflation by just 0.2 per cent over three years.

Growth rate slows in March , – CCLEI survey

by
Growth rate slows in March , – CCLEI survey

The Cyprus Composite Leading Economic Index (CCLEI) saw a year-over-year decrease of 0.9% in March, indicating a slowing economy on the island.

Yen trades higher on risk-on sentiment, despite dovish ECB

by
Yen trades higher on risk-on sentiment, despite dovish ECB

The Japanese yen traded stronger against the euro at 164.90 on Monday. Bank of Japan Governor Kazuo Ueda made dovish remarks about the need to maintain accommodative monetary policies due to low inflation.