Companies

Grand opening of Beon active office in Paphos

by
Grand opening of Beon active office in Paphos

INEX held a launch event for Beon active office in Cyprus, showcasing its modern and flexible workspaces designed for companies of all sizes. The office concept offers innovative features such as Face-ID technology for access, smart lighting, climate control systems, and delivery lockers. Beon also provides amenities like outdoor terraces, event halls, and a Gastro Bistro MODE. The building is designed with sustainability in mind, aiming to minimize its environmental footprint through energy-efficient practices.

Biggest owner of UK stocks warns LSE against weaker listing rules

by
Biggest owner of UK stocks warns LSE against weaker listing rules

The biggest collective owners of UK shares have warned the London Stock Exchange against weakening its listing rules and governance standards to attract fresh business.

Cyprus based fintech exceeds $1 trillion in trading volume , — island praised for friendly business environment

by
Cyprus based fintech exceeds $1 trillion in trading volume , — island praised for friendly business environment

Capital.com, a global trading platform and fintech group headquartered in Cyprus, announced that total client trading volumes exceeded .2 trillion in 2023, marking the first time volumes breached the trillion mark since the company’s establishment in 2016. The company was ranked as the number one fastest-growing technology company among 50 nominees in the 2023 Deloitte Tech Fast 50 rankings. Group CFO Ariel Segev praised Cyprus as a dynamic and thriving tech hub, stating that the country’s business-friendly ecosystem, deep talent pool, and facilitative legislation make it an ideal jurisdiction for tech scale-ups.

Expiring TCJA Tax Provisions in 2026 Would Produce Substantial Tax Hike across the U.S.

by
Expiring TCJA Tax Provisions in 2026 Would Produce Substantial Tax Hike across the U.S.

The text discusses the potential tax hike by congressional district in 2026 due to the expiration of Tax Cuts and Jobs Act (TCJA) provisions. The largest average tax hikes are expected in California’s congressional districts, with the San Francisco area facing the highest increase of ,127 per taxpayer. If the TCJA provisions are not made permanent, about 904,000 full-time equivalent jobs would be lost, impacting states like California and Texas the most. Making the TCJA individual tax provisions permanent and canceling business tax hikes would lead to long-run GDP growth, higher wages, and a larger national capital stock.

Digital Services Taxes in Europe, 2024

by
Digital Services Taxes in Europe, 2024

The text discusses the implementation of Digital Services Taxes (DSTs) in Europe and the efforts to replace them with a new international tax system called Pillar One. The United States has responded to DSTs with retaliatory tariff threats, urging countries to abandon unilateral measures. About half of all European OECD countries have either announced, proposed, or implemented a DST, impacting mainly U.S. companies.

Ensuring all companies pay the right amount of corporation tax

by
Ensuring all companies pay the right amount of corporation tax

Pillar Two requirements for multinational organizations with consolidated annual earnings over €750 million will enforce a global minimum tax of 15 per cent, regardless of location, to prevent the use of tax havens. The global corporate tax gap is estimated to be around £75-200 billion per year. Research shows that 47% of the UK adult population would be less likely to engage with companies minimizing their corporation tax payments. Older age groups are more likely to switch brands if they are made aware of unethical behavior related to tax planning. Better communication is needed to emphasize the negative impact of corporate tax planning on public services and social inequality. Collectively buying into a fairer society is crucial to influencing corporate behavior.

Major GST relief for holding companies in corporate guarantees case

by
Major GST relief for holding companies in corporate guarantees case

The Punjab & Haryana high court has stayed a circular that brought corporate guarantees under the ambit of GST, providing relief to holding companies in India.

San Francisco’s plan to break the doom loop? Fix business taxes

by
San Francisco’s plan to break the doom loop? Fix business taxes

A proposal to reform San Francisco’s business tax formula is being considered for approval by voters in November. The proposal would modify the gross receipts tax to focus on a company’s sales instead of its on-site headcount, potentially leading to tax cuts for small businesses and making it more attractive for large companies to keep their workers in the city. The plan is expected to be revenue neutral over time, with initial declines in business tax revenue before increases in the following years. The proposal would also raise the threshold for exemption from gross receipts taxes for small businesses. The effort to reform the tax structure has gathered momentum over the past year and has involved major San Francisco employers, labor unions, and other stakeholders in negotiations. Labor unions are not expected to actively oppose the measure’s passage.

Apple expected to show new iPads and possibly a new chip

by
Apple expected to show new iPads and possibly a new chip

Apple is planning a virtual event to showcase new iPad models that may include a new chip designed to enhance artificial intelligence tasks on the devices. The company’s focus on AI comes as it competes with other tech giants in incorporating the technology into its products. The new iPads could feature a processor optimized for AI work, with specific details expected to be revealed at Apple’s upcoming software developer conference. Analysts suggest that AI features may not be enough to drive significant upgrades, but Apple is looking to leverage AI technology to enhance user experience. Apple’s CEO has expressed optimism about the company’s potential in generative AI and plans to make more announcements later this year. Upgraded iPads could serve as a platform for Apple to introduce new chips ahead of its developer conference, where it may provide more insight into its AI strategy. The challenge for Apple lies in improving AI features while ensuring user privacy by processing most information on the device itself.

New task force to combat environmental crime in Cyprus

by
New task force to combat environmental crime in Cyprus

Fact: A task force is being established in Cyprus to carry out inspections on behalf of the environment department in an effort to combat environmental crime.