investment

State Tax Rates on Long-Term Capital Gains, 2024

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State Tax Rates on Long-Term Capital Gains, 2024

The text discusses the taxation of capital gains at the state level and the impact of inflation on capital gains taxes. It highlights that 32 states and the District of Columbia overtax capital gains income by subjecting them to the same rate schedule as ordinary income. Only eight states apply lower effective individual income tax rates to long-term gains than to ordinary income. The text also emphasizes the importance of considering all layers of taxes on investment income, including corporate income taxes, to avoid overtaxation.

Finnwatch: Tax loopholes cost state €1bn a year

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Finnwatch: Tax loopholes cost state €1bn a year

The text discusses how Finland could generate over one billion euros in additional tax revenue by closing tax loopholes, according to a report by Finnwatch.

Rate cut in Q3, after hot US CPI, says deVere boss

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Rate cut in Q3, after hot US CPI, says deVere boss

The CEO of deVere Group predicts that the Federal Reserve will only cut rates once this year, with the next cut not expected until January 2025.

Koumis wants tourism cooperation with other countries

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Koumis wants tourism cooperation with other countries

Fact: Deputy Minister of Tourism, Kostas Koumis emphasized the importance of international collaboration to overcome challenges facing the tourism sector during the 70th Session of the Europe Commission of the World Tourism Organisation (UNWTO) in Tirana.

Famagusta appeals to Polish tourists

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Famagusta appeals to Polish tourists

Fact: There was increased interest in organized trips from Poland to the Famagusta district during a roadshow in Poland by the Famagusta Tourism Board (Etap) and hoteliers of the district.

CIFA engages in constructive dialogue with the Cyprus Securities and Exchange Commission to propel the industry forward

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CIFA engages in constructive dialogue with the Cyprus Securities and Exchange Commission to propel the industry forward

Fact: The Cyprus Investment Funds Association (CIFA) met with key executives from the Cyprus Securities and Exchange Commission (CySEC) to discuss regulatory advancements and collaboration in the funds industry in Cyprus.

Cyprus real estate sector steaming ahead

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Cyprus real estate sector steaming ahead

The Cyprus real estate market had a strong performance in 2023, with 25,400 transactions worth €5.6 billion. Residential transactions were the main driver, representing 61% of the total market value. Limassol led in district-level performance, while Larnaca saw a remarkable 28% increase in sales value. Industry professionals expect minimal changes in the real estate landscape in 2024, with apartments remaining the preferred investment choice. George Martides from Deloitte Cyprus emphasized the sector’s resilience and the need to address future challenges such as sustainable development and affordable housing through collaboration between the public and private sectors.

Calm before the CPI storm

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Calm before the CPI storm

Investors and traders are cautious ahead of the release of US inflation data, which is expected to rise to 3.4%. If the data exceeds expectations, there is a possibility of a significant market sell-off.

Government seeks EU support for Lebanon migration deterrence

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Government seeks EU support for Lebanon migration deterrence

Cyprus seeks to secure a package similar to Egypt for Lebanon to deter illegal migrant trafficking. President Christodoulides plans to involve Ursula von der Leyen in negotiations with Lebanon, following discussions with the EU Commission President. The Cypriot government’s focus is on coordinating with the EU to address increased migration flows, with efforts continuing to designate safe areas in Syria.

IRS Proposes Regs For Stock Repurchase Excise Tax

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IRS Proposes Regs For Stock Repurchase Excise Tax

The Treasury Department and the IRS issued proposed rules providing guidance on the 1% excise tax on corporate stock buybacks under the Inflation Reduction Act. The tax applies to publicly traded domestic corporations and certain affiliates. The proposed regulations clarify how to calculate and pay the tax, including reporting on Form 720. The tax aims to ensure large corporations pay their fair share and improve tax fairness.