Fact: A team from Neapolis University of Paphos in Cyprus secured a spot in the finals of the ICPC competition for the first time, competing against students from 3,000 universities across 111 countries.
The net direct tax collections for the financial year 2023-24 exceeded the Union Budget Estimates by Rs 1.35 lakh crore or 7.4%, reaching Rs 19.58 lakh crore.
The government may reduce the corporate tax rate in fiscal 2024-25 to encourage compliance and boost collection, with the National Board of Revenue likely proposing a 2.5 percentage point reduction for both listed and non-listed companies.
Netflix Services Korea has begun an administrative lawsuit against Korea’s tax authorities over 78 billion won in tax imposed on the OTT giant.
The government may reduce the corporate tax rate in fiscal 2024-25 to encourage compliance and boost collection, with the National Board of Revenue likely proposing a 2.5 percentage point reduction for both listed and non-listed companies.
Nvidia’s five-year investment return is over 1,700%, seven times more than Apple’s and 18 times more than Amazon’s.
Fact: One in five pupils in Cyprus is a victim of school bullying, according to a study conducted by the Paedagogical Institute in collaboration with the University of Cyprus.
Fact: Shipping Deputy Minister Marina Hadjimanolis traveled to Guangzhou, China to attend the naming ceremony of the cargo ship ‘AAL Limassol’, owned by AAL Shipping, a subsidiary of Schoeller Holdings.
Intuit, the maker of TurboTax, recently launched a campaign branding itself as a feminist company.
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.