TurboTax Maker Puts a Pink Spin on Exploitative Financial Products
Intuit, the maker of TurboTax, recently launched a campaign branding itself as a feminist company.
policy
Guest commentary California needs higher taxes on corporations and the wealthy
President Biden proposed to reverse the 2017 Trump tax cuts for the wealthiest Americans by raising the corporate tax rate, denying tax breaks for corporations whose CEOs earn more than million in annual compensation, and requiring billionaires to pay at least 25 percent of their income in taxes. California faces a billion budget deficit and has a regressive tax system, with the lowest income earners paying the largest share of taxes. State and local governments can take action to ensure the ultra-wealthy and large corporations pay their fair share by ending tax breaks, increasing the corporate tax rate, and implementing a wealth tax on extreme wealth. Governor Newsom opposes the wealth tax, but public pressure is building with a majority of California voters supporting the idea.
Direct tax rally is a welcome trend
Direct tax collections for the financial year 2023-24 have ended up higher than Budget Estimates and Revised Estimates, primarily driven by a better-than-expected performance in personal income tax (PIT). This is the first time PIT collections will be larger than corporate taxes.
Internal Audit commissioner faces claims of conflict of interests
The auditor-general has called on the cabinet to investigate the commissioner of Internal Audit for possible dereliction of duty, as she allegedly did not properly handle allegations of conflict of interest in her department.
Deputy migration minister to be appointed , ‘immediately’
A deputy minister for migration will be appointed immediately by President Nikos Christodoulides. During the latest EU Council session, Christodoulides requested a discussion to redesignate parts of Syria as safe. All new arrivals from Syria will have their asylum applications suspended and will be taken to camps without the ability to work.
FY24 Direct Tax Collections Exceed Estimates, Rise 18% To Rs 19.58 Lakh Crore
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Solving the affordable housing crisis in Cyprus
Fact: The European Investment Bank (EIB) has identified land use regulation as the most important determinant of housing supply with an adverse effect on housing affordability.
Direct tax collections exceed revised estimates by ₹13,000 cr
The government received over ₹19.58 lakh crore through direct taxes in fiscal year 2023-24, exceeding both budget estimates and revised estimates.
Christodoulides has , ‘yielded no substantial results’
President Nikos Christodoulides’ stance on the Cyprus problem has not yielded any substantial results. Akel leader Stefanos Stefanou criticized the President’s approach and emphasized the need for seriousness, consistency, collectivity, and a policy based on principles and concrete planning. Stefanou also highlighted the importance of verifying the fate of all missing persons and providing support for their relatives.
UK fintechs ask government for help to ease capital shortages
Leaders of the UK’s financial technology industry are urging the British government to increase tax relief and help them raise more investment, as some executives warn a shortage of domestic investors is holding back the sector.