regulations

Ministry proposes exemption on corporate taxes on income from green bond interest and carbon credits

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Ministry proposes exemption on corporate taxes on income from green bond interest and carbon credits

The proposal aims to protect the environment and promote sustainable development in line with the global trend of using tax policies to incentivise environmentally friendly practices. (Photo courtesy of pace.edu.vn) Hanoi (VNS/VNA) – The Ministry of Finance is proposing amendments to the Law on Corporate Income Tax to encourage environmental protection and sustainable development. These … Read more

New IRS Rules for Corporate Stock Buyback Tax Take Effect – MyChesCo

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New IRS Rules for Corporate Stock Buyback Tax Take Effect - MyChesCo

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

Benefits of Hiring a Business Tax Lawyer for Small Business Owners

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Benefits of Hiring a Business Tax Lawyer for Small Business Owners

Navigating the complex world of business taxes is no small feat, especially for small business owners who already wear many hats. That’s where a business tax lawyer comes in. They provide invaluable support and guidance, ensuring your business stays compliant and financially healthy. Here are some key benefits of hiring a business tax lawyer for … Read more

Kevin Greenard: Corporate integration on capital gains ruined

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Kevin Greenard: Corporate integration on capital gains ruined

The concept of integration is that income earned within a corporation should be somewhat equal to income earned personally, once dividends have been paid out of the corporation. Said another way, integration essentially attempts to make the combined income taxes paid by the corporation and the owner on income earned through the corporation to be … Read more

Korea to cut ‘value-up’ taxes, double foreign professionals by 2035 to revamp growth

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Korea to cut 'value-up' taxes, double foreign professionals by 2035 to revamp growth

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

Trump is keen to lower corporate taxes. Not all his GOP colleagues are on board.

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Trump is keen to lower corporate taxes. Not all his GOP colleagues are on board.

Republicans are united around Donald Trump as their nominee, but where they are still divided is what to do about the 21% federal corporate tax rate if they control Washington next year.Some are pushing for a corporate rate as low as 15%. Others have signaled a willingness to accept an increase up to 25%. Donald … Read more

How generative AI can empower corporate tax departments

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How generative AI can empower corporate tax departments

The recent surge in artificial intelligence advancements has started to transform the professional services industry, and corporate tax departments are no exception. GenAI) presents a game-changing opportunity to transform corporate tax operations by enhancing human capabilities and driving strategic decision-making.   Insights from the 2024 Generative AI in Professional Services Report  In the realm of professional … Read more

How GenAI is changing corporate tax and what businesses can do about it

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How GenAI is changing corporate tax and what businesses can do about it

Generative Artificial Intelligence (GenAI) is beginning to manifest itself in corporate tax, presenting both advantages and concerns. As a transformative technology capable of generating human-like text, code, and other creative content, GenAI is posed to reshape the tax landscape.   Understanding the shift in GenAI adoption  The desire to use GenAI in corporate tax has seen … Read more

IRS Issues Final Regulations For Tax On Corporate Stock Buybacks

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IRS Issues Final Regulations For Tax On Corporate Stock Buybacks

proposed regulations that would provide new guidance related to the tax. Those regulations were made final on June 28, 2024, and scheduled for publication in the Federal Register on July 3, 2024. Corporate Buybacks A stock buyback is precisely what it sounds like a company repurchases shares from its shareholders directly or from the open … Read more