Urging Lawmakers to Do Better for Business
The governor’s proposed budget for FY25 includes a new “truck traffic excise fee” targeting businesses in New Jersey’s transportation and logistics industry.
policy
UAE corporate tax to bolster future economic sustainability: MoF
– The UAE has introduced a federal corporate tax to strengthen its economic future.
– The tax policy aligns with international standards and aims to solidify the UAE’s position as a global financial center.
– Corporate tax rates are set at 0% for annual incomes up to AED375,000 and 9% beyond that threshold.
– The UAE is committed to sustainable development goals and has reformed tax policies to support economic growth and inclusivity.
– The UAE has joined the BEPS programme and supports global tax fairness initiatives.
– Regulatory decisions have been made to guide the implementation of the corporate tax law in the UAE.
– The Ministry of Finance is conducting public awareness sessions to ensure understanding of the new tax law.
German tourist arrivals surge in Paphos
The significant increase in tourist traffic anticipated from Germany to Paphos this summer is instilling greater optimism for the tourist season. Germany is expected to play a much larger role in tourist traffic to Paphos compared to previous years, offsetting losses from conflicts in Russia and Israel. This surge in German tourists, combined with high visitation from the UK, is expected to make 2024 a record-breaking year for visitor arrivals in Paphos.
The future of LNG exports
Fact: Future LNG demand is expected to be led by Asia, particularly China, with global LNG demand projected to increase to about 700mtpa by 2040.
Biden Implies Families Will Pay More Taxes if He’s Re-Elected
President Joe Biden stated that if he is reelected, he will allow former President Donald Trump’s comprehensive tax cuts to expire without renewing them.
A look into the diverse tax reforms being implemented across Africa
Countries in Africa have implemented various tax policy measures in the last 3 years, including new taxes on different sectors, increased taxes on certain goods and services, and changes to tax exemptions.
Cyprus government and banks piling-up cash
By end-February 2024, the government had accumulated cash deposits of over €3.5 billion at the Central Bank and €2.1 billion at commercial banks.
Ioannou to inform EU counterparts on need to increase migrant returns
Interior Minister Constantinos Ioannou will outline the need to increase migrant returns at an EU ministerial meeting in Ghent, Belgium. Cyprus ranks first among EU member states in terms of returns per population, with a 66% increase in total migrant returns in 2023 compared to 2022. In 2023, there were 1,000 more departures in the first quarter compared to the same period in 2023.
Mismanagement of Natura2000 sends Cyprus to the European Court of Justice, EU Commissioner says
Virginijus Sinkevičius, the European Commissioner for the Environment, Oceans, and Fisheries, emphasizes the importance of addressing climate change and environmental protection. Cyprus, due to its geographical position, is expected to be significantly impacted by climate change, especially in sectors like agriculture, tourism, and fisheries. Sinkevičius highlights the need for all Member States, including Cyprus, to implement climate targets to mitigate these effects. Additionally, he stresses the importance of implementing provisions for Natura2000 areas to ensure ecosystems can withstand increasing pressures, warning that Cyprus may end up in the European Court over Natura2000 issues if necessary actions are not taken.
Trump trial tests his campaign strategy of embracing bad publicity
Donald Trump is facing a hush money trial in New York and is using the media attention to amplify his claims of persecution. He is meeting with foreign dignitaries at Trump Tower, making staged visits to locations like a convenience store in Harlem, and posting on his Truth Social platform. Despite the trial, Trump has not had any campaign rallies but is planning some in battleground states. The trial could carry political risks for Trump, as opinion polls show some Republican voters may turn against him if he becomes a convicted felon. The Biden White House is seeking to draw a contrast between Trump and Biden, with Trump accusing the trial of being a witch hunt on his social media platform. Foreign dignitaries have visited Trump at Trump Tower, and he has made efforts to engage in major issues like the war in Ukraine.