transition

IMF Pitches ‘Strengthening Corporate Taxes’ And ‘Supplemental’ Taxes To Fight Against Impact Of AI On Jobs And Inequality

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IMF Pitches 'Strengthening Corporate Taxes' And 'Supplemental' Taxes To Fight Against Impact Of AI On Jobs And Inequality

Loading…Loading…The International Monetary Fund (IMF) has raised a red flag on the potential of artificial intelligence (AI) to exacerbate inequality, urging governments to take measures to protect their economies.What Happened: The IMF expressed “profound concerns” about the possibility of significant labor disruptions and increased inequality as societies transition to generative AI, according to a report … Read more

Schools close on red alert, hottest June ever

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Schools close on red alert, hottest June ever

Primary pupils were sent home early on Friday, as soaring temperatures reached a high of 45 degrees Celsius, and most public schools are not well equipped to handle the scorching heat. The Ministry of Education ordered all state schools to close early after a red alert was jointly issued by the Health Ministry, the Labour … Read more

BDO Survey: Election Year Fosters Concerns for Tax Leaders

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BDO Survey: Election Year Fosters Concerns for Tax Leaders

While more strategic tax leaders are most concerned that the 2024 election will result in changes to certain Inflation Reduction Act renewable energy credits, tax tacticians are most concerned about changes to federal corporate tax rates, according to a new survey from top six accounting firm BDO USA. BDO’s 2024 Tax Strategist Survey, which was released … Read more

Gold rush to endure through 2024 though $3,000 mark may prove elusive

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Gold rush to endure through 2024 though $3,000 mark may prove elusive

Gold’s lightning rally to successive record highs shows every sign of continuing in the second half of 2024 as the fundamental case for bullion remains firmly in place, though $3,000 per ounce looks just out of reach, traders and industry experts said.Investors have flocked in droves towards the precious metal, driven by expectations for monetary … Read more

The OECD’s push for global taxes continues GIS Reports

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The OECD’s push for global taxes continues GIS Reports

The OECD is developing ways to increase taxes on international businesses, cross-border investment and global levies on wealth and energy generation. Mathias Cormann, former finance minister of Australia, is the sixth secretary-general of the OECD, in office since June 2021, appointed by the member governments for a five-year term. On his watch, the organization continues its … Read more

How the IRS went soft on billionaires and corporate tax cheats – ICIJ

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How the IRS went soft on billionaires and corporate tax cheats - ICIJ

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

Cyprus urged to avoid mediocrity in research

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Cyprus urged to avoid mediocrity in research

Cyprus is excelling in the fields of research and innovation, according to Deputy Minister of Research, Innovation, and Digital Policy Nikodimos Damianou. Damianou this week visited the Cyprus Institute, where he met with its president Stavros Malas, as well as members of the administrative staff. Damianou expressed his delight at Cyprus’ leading position in research … Read more

Tax leaders worried about election results

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Tax leaders worried about election results

Strategic tax leaders are especially concerned the November U.S. presidential election will lead to changes to certain Inflation Reduction Act renewable energy credits, while tax tacticians are most concerned about changes to federal corporate tax rates, according to a new survey.The 2024 BDO Tax Strategist Survey, released Monday, pointed out that the outcome of the … Read more

Pressing Political Hot Spots for Boards

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Pressing Political Hot Spots for Boards

Tax Policy The differences in proposed tax policy between the presumptive presidential candidates, at this point, in the two main parties — President Joe Biden and former President Donald Trump — are vast, according to Garrett Watson, senior policy analyst with Tax Foundation, a nonpartisan tax policy think tank. “The differences between what (the candidates) … Read more

Keve embraces green transition with upgraded Nicosia headquarters

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Keve embraces green transition with upgraded Nicosia headquarters

The Cyprus Chamber of Commerce & Industry (Keve) has completed the upgrade of its headquarters in Nicosia into a green building. The initiative aligns with the organization’s commitment to promoting sustainable practices among its members and contributing to a greener Cyprus.