The Central government is likely to announce India’s adoption of “Pillar-2” tax regime anchored by the Organisation for Economic Cooperation and Development (OECD) in the coming Budget, as part of the country’s efforts to support and benefit from the global system combating tax avoidance.The Finance Bill, 2024, passed after the interim Budget presentation, will be … Read more
A pedestrian leaves the entrance of the headquarters of the Federal Board of Revenue (FBR) building in Islamabad — AFP/File Focus on growth, not taxes. Vietnam’s standard corporate tax rate is 20 per cent and preferential tax rates are as low as 10 per cent, depending on factors like investment size and location. High-tech enterprises … Read more
Cyprus remains a prime destination for investors eyeing lucrative deals in the real estate sector, as the island offers a variety of investment opportunities for both local and foreign investors, according to a leading real estate company. The biggest opportunity at the moment is on the south east coast, in Larnaca, as the government moves … Read more
While more strategic tax leaders are most concerned that the 2024 election will result in changes to certain Inflation Reduction Act renewable energy credits, tax tacticians are most concerned about changes to federal corporate tax rates, according to a new survey from top six accounting firm BDO USA. BDO’s 2024 Tax Strategist Survey, which was released … Read more
We know that “privately, Trump has told allies that he is keenly interested in cutting corporate tax rates again,” according to The Washington Post, even as corporate profits hit near record highs in 2023. The Post also reported that “Trump’s advisers…have discussed proposals to make deeper cuts to the overall corporate tax rate, potentially to … Read more
The United Nations High Commissioner for Refugees (UNHCR) in an announcement expresses deep concern for the safety and well-being of approximately 31 asylum seekers, including seven children, who are trapped in the buffer zone (BZ) in Cyprus. It is noted that “Five of them entered the Pournara reception centre to apply for asylum after crossing … Read more
The Federal Reserve will most certainly hold US interest rates steady at the current 23-year high and investors need to review their portfolios amid a divergence in global monetary policy, a leading financial advisor said Wednesday. “With the annual CPI increase at 3.3%, markets might be hopeful for potentially more rate cuts, but there remains … Read more
There are insinuations concerning the incidence of double taxation being experienced in some quarters by persons or groups within our economy. Those being affected by this menace are seriously lamenting as a result of the repetitive nature of taxes and levies that they have been forced to be exposed to or suffer more than once … Read more
The OECD is developing ways to increase taxes on international businesses, cross-border investment and global levies on wealth and energy generation. Mathias Cormann, former finance minister of Australia, is the sixth secretary-general of the OECD, in office since June 2021, appointed by the member governments for a five-year term. On his watch, the organization continues its … Read more
Michael Welu worked at the IRS for decades as a specialist in helping agents identify and investigate possible tax crimes. In an agency known for offices working in their own silos, Welu had the rare ability to move between divisions, dissecting and learning each office’s particular customs and procedures. But that experience had its own … Read more