policy

RIF launches research support programmes worth , €14.5 million

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RIF launches research support programmes worth , €14.5 million

The Research and Innovation Foundation (RIF) announced the launch of two new programmes, Excellence and Post-Doc, with a total budget of €14.5 million. The Excellence programme has a budget of €12 million and covers life sciences, physical sciences and engineering, and social sciences and humanities. The maximum funding per project is €200,000 for life sciences and physical sciences and engineering, and €120,000 for social sciences and humanities. The Post-Doc programme has a budget of €2.5 million and funds projects in the same scientific areas. The aim of the programmes is to foster scientific excellence and support post-doctoral researchers in carrying out specialized projects. Interested parties can submit proposals via the IRIS portal by July 5, 2024.

2025 and the Tax Cuts and Jobs Act: Building your tax story

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2025 and the Tax Cuts and Jobs Act: Building your tax story

– Extending all TCJA individual provisions at every income level would cost .5 trillion over the next 10 years.
– President Joe Biden’s proposal to maintain TCJA individual tax provisions for incomes below 0,000 would cost between trillion to .25 trillion.
– Business extenders cost approximately trillion.
– The corporate tax rate may be reconsidered by Congress due to deficit concerns and political pressures.
– Multinational companies may face a higher overall tax rate under the new global minimum tax regime created by Pillar Two.
– Only 27% of tax leaders are actively engaging with lawmakers on US or global tax policy.
– Companies rank the current 21% federal corporate tax, FDII incentive, and other TCJA reforms as top priorities.
– U.S. House Ways and Means Committee Chairman Jason Smith has said everything is on the table regarding individual provisions.
– The current combined US corporate tax rate is 25.8%, higher than the average combined corporate rate of other OECD countries.

Globe editorial: The junk-food economics of corporate subsidies

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Globe editorial: The junk-food economics of corporate subsidies

Corporate subsidies have become a significant problem for the Canadian economy, with Ottawa projected to spend .4 billion on subsidies by fiscal 2028. Economist John Lester’s analysis shows that the majority of these subsidies are ineffective and actually harm the economy. Only 20% of total subsidies have a positive impact on real income. The subsidies also contribute to a fiscal burden, requiring Ottawa to raise taxes or issue debt to cover the costs. The Liberal government’s continued indulgence in corporate subsidies, particularly in the electric vehicle industry, is criticized for not creating the promised jobs of the future and potentially shifting workers from Canadian-owned firms. Scrapping these subsidies could provide an economic boost and free up billions of dollars for other priorities, such as reducing the deficit, cutting taxes, or funding national defense or child care.

Corporate Taxes Before and After the Trump Tax Law

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Corporate Taxes Before and After the Trump Tax Law

– America’s largest, consistently profitable corporations saw their effective tax rates fall from an average of 22.0 percent to an average of 12.8 percent after the Trump tax law went into effect in 2017.
– The 296 largest and consistently profitable U.S. corporations paid 0 billion less in taxes from 2018 to 2021 compared to before the Trump tax law.
– While profits for these corporations rose by 44 percent after the Trump tax law, their federal tax bills dropped by 16 percent.
– The number of corporations paying tax rates of less than 10 percent increased from 56 to 95 after the Trump tax law.
– Many well-known corporations, including Walmart, Verizon, Disney, and Meta, had the largest tax reductions after the Trump tax law.

OECD upgrades global growth outlook as US outperforms

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OECD upgrades global growth outlook as US outperforms

The global economy is growing faster than expected, with the US activity being resilient and inflation converging quickly with central banks’ targets, according to the OECD.

Biden faces a tough balancing act as campus protests over Gaza escalate

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Biden faces a tough balancing act as campus protests over Gaza escalate

Biden is facing criticism from both left and right factions for his Israel policy, as campus protests against the war in Gaza escalate. Despite concerns that the protests could impact his chances in the upcoming election, the White House has focused on rolling out youth-friendly policies, such as student loan relief and marijuana reform. Republicans have used the protests to criticize Democrats, while some warn that young voters may desert Biden over his stance on Israel.

US lawmakers table bill to extend lifting of Cyprus arms embargo

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US lawmakers table bill to extend lifting of Cyprus arms embargo

Fact: A group of United States congressmen tabled a bill to extend the waiver renewal period for the country’s arms embargo on Cyprus from one year to five years.

In Budget balancing act, what business wants to see

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In Budget balancing act, what business wants to see

Fact: Business wants to see this year’s Budget focus on tax relief, reducing red tape, and support for upskilling.

Georgia Implements Structurally Sound Tax Changes

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Georgia Implements Structurally Sound Tax Changes

Georgia Governor Brian Kemp signed bills into law that lower the flat individual income tax rate and align the corporate income tax rate with the individual income tax rate.

Canada’s capital-gains tax change continues decades-old debate over economic growth and tax fairness

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Canada’s capital-gains tax change continues decades-old debate over economic growth and tax fairness

The fact described in the text is that Finance Minister Chrystia Freeland announced an increase in the capital-gains inclusion rate to 66 per cent for corporations and trusts, and for individuals on gains above 0,000, in order to raise nearly billion over five years to pay for housing initiatives.