K-Battery Companies Worried about OECD’s New Global Minimum Tax Policy
The global minimum tax policy imposes a minimum corporate tax of 15 percent on multinational companies with annual global revenue exceeding 1 trillion won.
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Property tax company Ownwell refuses to defend itself from charges by competitors
A property tax company called Ownwell in North Texas is offering to file homestead designation paperwork for homeowners for free, but then charges 25% of the savings from homestead exemptions. The company has been criticized for making false promises and misstating the pricing of its competitors. The Better Business Bureau revoked Ownwell’s A+ rating in February. It is advised to make sure you have a homestead exemption on your primary residence and not fall for deceptive practices during the property tax season.
Doctors say capital gains tax changes will jeopardize their retirement. Is that true?
The Canadian Medical Association asserts that the Liberals’ proposed changes to capital gains taxation will put doctors’ retirement savings in jeopardy, but financial experts argue that incorporated professionals like doctors can shield their retirement savings from capital gains taxation by setting up a registered pension plan.
Rich migrants are welcome in Cyprus
Cyprus is considering easing residency permit requirements for foreign nationals under a proposed bill. The proposal would grant residency permits to third-country nationals who invest €250,000 in housing and have an annual income of €40,000. The bill also includes provisions for additional family members. The proposal is currently being debated in the House Internal Affairs Committee. Some stakeholders suggest lowering the housing investment threshold to €150,000 to facilitate purchases of existing homes, while others argue that this could drive up housing demand and prices, negatively impacting local buyers. The regulations aim to attract foreign investment while ensuring financial stability for those obtaining residency, covering various categories of foreigners.
Hellenic Bank confirms talks to acquire CNP Cyprus for , €182 million
Hellenic Bank has entered into exclusive negotiations and a put option with CNP Assurances for the acquisition of its subsidiary CNP Cyprus Insurance Holdings Limited, which operates in Cyprus and Greece.
Corporate Taxes And Public Transportation: Debate Rages In New Jersey
New Jersey is considering raising taxes on businesses that earn more than million per year to create a dedicated funding source for NJ Transit, which is facing a financial shortfall. Business lobbyist groups are pushing against the proposal, arguing that it could lead to companies leaving the state or making investments elsewhere. Advocates for the tax increase argue that it would only apply to the top 1 percent of corporate filers and that these companies have benefited from tax cuts in the past.
EDITORIAL: Biden tax plan would pummel average Americans
President Joe Biden’s 2025 budget blueprint includes plans to increase corporate taxes, which could ultimately cost low- and middle-income Americans more money than if their income tax rates were raised. This plan, straight out of the Bernie Sanders handbook, aims to go after corporations but could have negative effects on consumers, employees, and investors. The budget also includes record spending and soaring debt, despite promises not to increase taxes on those earning less than 0,000 a year.
Lloyds Bank eyes house price rally as first-quarter profit drops
Lloyds Banking Group’s pretax profit decreased by 28% in the first quarter due to rising costs, peaking interest rates, and competition in the mortgage market.
How Does the TCJA Sunset Affect Business Taxation Going Forward | JD Supra
– The Tax Cuts and Jobs Act (TCJA) has important segments scheduled to expire on December 31, 2025.
– The US corporate tax rate was reduced from 35% to 21% and is not scheduled to sunset.
– The Qualified Business Income (QBI) Deduction of 20% for passthrough entities is scheduled to end in 2025.
– Bonus depreciation deductions are scheduled to decrease over the years and eventually sunset.
– The TCJA repealed the Alternative Minimum Tax (AMT) for corporations.
– It is important to consult a tax attorney for domestic and international tax planning for corporate entities post-2025.
– The Corporate Transparency Act requires small corporate entities to disclose ownership interests.
– Congressional decisions on QBI deductions and AMT may be impacted by reporting requirements under the Corporate Transparency Act.
HMRC collected £95.2 billion in business taxes in the last tax year – Accountancy Age
Fact: £95.2 billion was collected in business taxes from April 2023 to March 2024.