dividend

“C’mon Man! Tax the Rich!” Business Owners Face Tax Increases* | JD Supra

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“C’mon Man! Tax the Rich!” Business Owners Face Tax Increases* | JD Supra

Sen. Warren reintroduced her “Ultra-Millionaires” wealth tax proposal to the Senate, inspired by the Administration’s Fiscal Year 2025 Budget which includes its own version of a wealth tax. The tax proposals are part of the upcoming contest for the White House and focus on tax avoidance by the wealthy. Business owners should familiarize themselves with the proposed changes to federal income tax and develop plans in response as there is a possibility that the Democrats may have another opportunity to turn their income tax agenda into law.

President Biden’s FY 2025 Budget Proposal: Details & Analysis

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President Biden’s FY 2025 Budget Proposal: Details & Analysis

President Biden’s FY 2025 budget proposes tax hikes on businesses and high earners, amounting to a gross tax hike of over .1 trillion.

Editorial. Interesting shift in tax contribution

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Editorial. Interesting shift in tax contribution

Direct tax revenue is growing at a healthy rate, with net direct tax collection at ₹18.9-lakh crore, a 20% increase compared to the previous year. Personal income tax is driving this growth, with a 23% increase, while corporate tax collections have only grown by 12%. The tax base is not increasing at the same rate as tax collections, with the number of individuals filing tax returns growing at a slower pace. Since FY21, revenue from personal income tax has been higher than that from corporate tax.

BOCH shares gain on dividend news

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BOCH shares gain on dividend news

– Bank of Cyprus Holdings announced a 25c dividend and a €25 million share buyback.
– Shares traded at recent highs on the London and Cyprus stock exchanges.
– The share price on the London Stock Exchange opened at 307p and reached an intra-day high of 316p, the best since its listing at 285p on January 31, 2017.
– The share price hit its lowest at 39.6p on September 30, 2020, and recovered above 300p at the end of 2023.
– The closing trading price on Thursday was 309p/369c.
– The 25c dividend is based on €487 million in after-tax profits for 2023, marking the second reward to shareholders in over a decade.
– The CEO aims to increase the profit distribution to 30-50% over the next few years.
– The European Central Bank approved the cash dividend and share buyback.
– The total distribution for FY2023 amounts to €137 million, with a cash dividend of €112 million and a share buyback of up to €25 million.
– Last year’s profit distribution was €22 million.
– The cash dividend will be paid on June 14 to stockholders registered as of April 26, with BOCH trading ex-dividend as of April 25.
– The bank is considering alternatives to issuing dividend cheques to speed up the process.
– The share buyback will occur on both the London Stock Exchange and the Cyprus Stock Exchange, with two brokerage firms handling the transaction.
– The bank plans to give bonuses to about 30% of its staff, who also received 11% pay increases last year.
– Bank of Cyprus Holdings Chairman stated the distribution reflects the Group’s strong financial performance in 2023 and its commitment to delivering value to shareholders.