The IRS plans to shut down a tax loophole used by large, complex partnerships, allowing the U.S. Department of Treasury to raise an estimated $50 billion or more in revenue over 10 years. The move is the latest in a series of faltering efforts the IRS has taken to hold the ultrawealthy more accountable, and … Read more
UK Full Expensing: Understanding UK Capital Allowances Policy Skip to content Home • Blog • Understanding Full Expensing in the United Kingdom United Kingdom is nearing snap elections on July 4, 2024, and taxA tax is a mandatory payment or charge collected by local, state, and national governments from individuals or businesses to cover the … Read more
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
Sen. Bernie Sanders, I-Vermont, and Ed Markey, D-Massachusetts, are introducing legislation in the Senate to impose a 95% windfall tax on the excess profits of large corporations that are overcharging for the products they sell.The Ending Corporate Greed Act would have raised an estimated $300 billion in 2023 from 10 of the largest corporations alone. … Read more
Rep. Jamaal Bowman and Sen. Bernie Sanders on Friday led a group of progressive lawmakers in announcing legislation that would penalize large corporations with a 95% windfall profits tax for using elevated inflation as a pretext to hike prices and pad their bottom lines. The Ending Corporate Greed Act would “establish a 95% windfall profits … Read more
Israeli army forces strapped a wounded Palestinian man to the hood of a military jeep during an arrest raid in the occupied West Bank city of Jenin on Saturday. A video circulating on social media and verified by Reuters showed a Palestinian resident of Jenin, Mujahed Azmi, on the jeep that passes through two ambulances. … Read more
The president plans to raise taxes on billionaires and giant corporations to help fund more affordable housing and childcare, while keeping taxes the same for those earning under $400,000 per year. With the 2024 presidential election less than five months away, President Joe Biden and former president Donald Trump have been busy highlighting their tax … Read more
NEW JERSEY (WABC) — New Jersey has a tentative agreement with the state’s most profitable companies to temporarily pay higher taxes to fund NJ Transit.Under the plan, the 600 corporations in the state that make at least $10 million a year in profits will pay a 2.5% tax on all earnings for five years.In return, … Read more
Labour could have stealth plans to raise Capital Gains Tax (CGT), the CEO of a leading independent financial advisory and fintech warned, after Labour soared ahead in polls, positioning Sir Keir Starmer’s party for a landslide victory on July 4. This means analysts are ramping up scrutiny on how it is to fund its ambitious … Read more
Moody’s Ratings has placed all Hellenic Bank ratings and assessments on review for upgrade, with the exception of the Prime-2 short-term Counterparty Risk Ratings (CRRs) and Prime-2(cr) short-term Counterparty Risk (CR) Assessment which have been affirmed. “This announcement reflects our strong financial performance and strategic development,” the bank said in a brief statement. Last month, … Read more