Pedalion Yachting in prestigious tie with Lilybaeum Yacht
Pedalion Yachting has partnered with Lilybaeum Yacht to become the sole distributor of Lilybaeum boats in Cyprus, offering sophisticated maritime elegance to the region.
income
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
Korea’s tax revenue fell 2.5 percent on-year during the first three months of 2024 due mainly to weak corporate performances.
Amid debate about inheritance tax, rising share of personal income tax and indirect tax remains a concern
– During the election campaign, the Congress emphasized social justice and welfare in its manifesto.
– Prime Minister Narendra Modi accused the Congress of having communal intentions with its plans for a caste census and distribution of surplus government land.
– The Congress defended its manifesto, stating that rising wealth inequality in the country needs to be addressed.
– The Finance Ministry released data showing an increase in net tax collections, driven by personal income tax and securities transaction tax.
– The share of corporate tax has been decreasing while personal income tax has been increasing.
– Direct taxes have been decreasing while indirect taxes have been increasing.
– A bulk of those who file personal income tax earn an annual income of ₹1 lakh-₹5 lakh.
– The effective personal income tax rate in India is among the highest compared to other BRICS countries.
– Poorer citizens and the middle-class are shouldering a higher share of the tax burden due to the rising share of personal income tax and indirect taxes.
Gov. Phil Murphy’s corporate tax to fund NJ Transit should be derailed
Fact: Trenton lawmakers are considering a new tax on businesses to fund NJ Transit, proposed by Gov. Phil Murphy.
First-quarter figures for Malaga province suggest another record year for tax revenue | Sur in English
Fact: Authorities in Malaga province have collected record taxes for three years in a row, with tax revenues increasing by 65.8% in the first quarter of 2024 compared to the same period last year.
McDonald, ’s set for weak sales growth as US fast-food chains grapple with muted traffic
McDonald’s is expected to report a sequential drop in sales growth for the fourth straight quarter as low-income consumers remain hesitant about eating out.
Biden Embraces a Wealth Tax to Address Racial Wealth Inequality
President Biden and Treasury Secretary Janet Yellen have proposed a massive wealth tax redistribution scheme, including taxes on unrealized gains, in their Fiscal Year 2025 proposal.
Local business tax exemption for registered enterprises: Who has the final say?
The text discusses the confusion and uncertainties faced by registered business enterprises (RBEs) with the Board of Investments (BOI) regarding the local business tax (LBT) exemption after the passing of the Corporate Recovery and Tax Incentives for Enterprises Act (CREATE Act). The Department of Justice (DOJ) provided guidance that the BOI still has the authority to certify enterprises as pioneer or non-pioneer for LBT exemption, despite the repeal of certain provisions under the Omnibus Investments Code of 1987 by the CREATE Act.
Moody, ’s welcomes Hellenic Bank acquisition of CNP Cyprus
– Moody’s has given a positive assessment on Hellenic Bank’s move to acquire CNP Insurance in Cyprus and Greece.
– The acquisition will position Hellenic Bank Group as the leader in the Cypriot insurance market.
– The acquisition price of €182 million is expected to be recovered through retained earnings.
– The agreement is likely to include the 330 CNP employees.
– The potential acquisition will strengthen Hellenic Bank’s activities in the life insurance and general insurance sectors.
– The transaction will enhance the diversification and sustainability of Hellenic’s profitability.
– The combination of insurance activities will result in synergies and create opportunities for product distribution.