Companies

Rep. Blake Moore, Treasury Secretary Janet Yellen argue over whether Trump-era tax cuts benefitted the middle class

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Rep. Blake Moore, Treasury Secretary Janet Yellen argue over whether Trump-era tax cuts benefitted the middle class

Tax policy has an impact on the economy, with Utah Rep. Blake Moore and Treasury Secretary Janet Yellen disagreeing on whether former President Donald Trump’s tax framework or President Joe Biden’s proposed one is more beneficial. Moore argues that the Tax Cuts and Jobs Act of 2017 helped strengthen the economy, while Yellen believes the Trump-era tax cuts disproportionately benefited the wealthy. Biden has proposed raising the corporate tax rate to 28%, with the administration aiming to increase taxes for billionaires and corporations to reduce the national debt. Yellen assures that families earning less than 0,000 will not face a tax hike under Biden’s plan.

Does Your State Have a Throwback or Throwout Rule?

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Does Your State Have a Throwback or Throwout Rule?

The text discusses state throwback and throwout rules, which are tax policies that can increase corporations’ tax liability and influence business decision-making. Throwback rules involve sales of tangible property being “thrown back” into the state where the sale originated, increasing the numerator of the apportionment formula and the tax liability for corporations. Meanwhile, throwout rules exclude certain sales from the denominator of the apportionment formula, also increasing tax liability. These rules can erode the competitiveness of states and incentivize businesses to relocate to avoid higher tax burdens.

Digital Taxation around the World

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Digital Taxation around the World

Digital Taxation around the World | Tax Foundation Skip to content taxA tax is a mandatory payment or charge collected by local, state, and national governments from individuals or businesses to cover the costs of general government services, goods, and activities. policies, a significant number of countries adopted unilateral tax measures targeted at digital businesses, … Read more

Uganda taxation: Is targeting small business the answer?

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Uganda taxation: Is targeting small business the answer?

– Uganda has a fiscal deficit of 5.6 percent in 2023
– World Bank suspended funding to Uganda over anti-homosexuality law
– Traders in Kampala protested against high taxes and enforcement tactics
– Uganda has a narrow tax base, with tax collections totaling less than 14 percent of GDP
– Only 1 million Ugandans pay tax out of a population of almost 50 million
– Top 1,000 taxpayers contribute more than three-quarters of all tax revenue collections
– Uganda’s tax regime is less effective than many of its Sub-Saharan counterparts
– Tax regime is perceived as unfair by ordinary citizens
– Tax laws have elements of being progressive, particularly in personal income taxation
– Uganda faces challenges in raising sufficient funds for public services and economic development
– Reforms are needed in personal income tax rates, VAT threshold, presumptive tax thresholds, and business taxation
– Greater transparency in public spending and service delivery can improve taxpayer morale and compliance

Congratulations, you survived another tax season—and paid a higher rate than top American companies

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Congratulations, you survived another tax season—and paid a higher rate than top American companies

Fact: The pharmaceutical industry pays the lowest effective tax rate in 2022 at 11.6%, with some companies like Pfizer and Abbvie paying even lower rates.

Biden administration takes step to make marijuana use a less serious crime

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Biden administration takes step to make marijuana use a less serious crime

The U.S. Department of Justice is considering reclassifying marijuana as a schedule three drug, which would indicate a moderate to low potential for physical and psychological dependence. This potential policy change could be the biggest shift in federal cannabis policy in 40 years.

Gaza war student protests spread to Lebanon [PHOTOS]

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Gaza war student protests spread to Lebanon [PHOTOS]

Hundreds of students in Lebanon gathered at university campuses to protest against Israel in the country’s first coordinated university protests over Gaza. Participants were inspired by sit-ins in the United States and demanded their universities boycott companies doing business in Israel.

Moody, ’s gives thumbs up to HB’s CNP deal

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Moody, ’s gives thumbs up to HB’s CNP deal

Hellenic Bank’s takeover of CNP Assurances’ regional operations will allow it to dominate the local insurance market, giving it a 30% share of the life insurance market and a 23% share of the general insurance sector.

S. Korea’s tax revenue falls W2.2tr on-year through March

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S. Korea's tax revenue falls W2.2tr on-year through March

Tax revenue in South Korea fell by 2.5 percent in the first three months of 2024, mainly due to weak corporate performances. Corporate taxes collected decreased by 22.8 percent, while income taxes also went down by 2.5 percent. However, value-added tax and stock exchange tax collections increased during the same period.

Korea’s tax revenue falls $1.5 bil. on-year through March

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Korea's tax revenue falls $1.5 bil. on-year through March

Korea’s tax revenue fell 2.5 percent on-year during the first three months of 2024 due mainly to weak corporate performances.