US jobs report signals one rate cut this year
Fact: The CEO of deVere Group predicts that there will be just one US interest rate cut by the Federal Reserve this year, following a stronger-than-expected jobs report for March.
Companies
Unlocking Value: ESG integration in Cyprus propels sustainable finance forward
Banking and financial institutions are introducing a tool to assess companies’ compliance with Environmental, Social, and Governance (ESG) criteria in Cyprus.
How investment firms shield the ultrawealthy from the IRS – ICIJ
The fact described in the text is that the IRS has received a major infusion of funding, including billion in 2022, to address the issue of large partnerships used by the ultrawealthy to hide income and avoid paying taxes.
Thoughts On The UK Budget 2024 – Corporate Governance – Worldwide
Fact: The UK Chancellor of the Exchequer proposed changes to the taxation of non-domiciled individuals, with effect from 6th April 2025, shifting to a regime based on residence where all UK residents will pay UK tax on foreign income and gains following four years of residency.
High Tax Rates Caused Too Much Culture
Corporate art purchases were common from the 1950s through the 1970s, with corporations supporting symphonies, operas, and dance companies as a mark of corporate citizenship. These expenses were tax-deductible, with the government covering half the cost. Employees preferred compensation in-kind, such as office spaces with avant-garde design or tickets to cultural events, as they faced high marginal tax rates. However, after the 1980s, as tax rates decreased, employees preferred cash over cultural benefits, leading to a decline in corporate support for culture. The shift from a culture-focused corporate environment to a more utilitarian one was influenced by changes in tax rates.
Opinion: Thoughts on the upcoming tax reform
Tax reform should aim for sustainable finances and economic equity. Personal income tax should include taxing family income, with a tax-free bracket of €25,000 per individual or €50,000 per family. A flat 20% tax on all personal income above the tax-free bracket is proposed. Corporate tax should be leveled at 20% to be competitive and fair. A fair tax on immovable property is suggested to combat tax evasion and incentivize property owners to rent out vacant properties. VAT rates can be adjusted, and a flat road tax per car is recommended to cover road infrastructure costs. Carbon emission taxes should be imposed on fuels to fund carbon reduction and renewable energy initiatives.
City Friends Club: leading the charge for environmental sustainability
City Friends Club (CFC) is a non-profit organization based in Limassol, Cyprus, focused on environmental sustainability and waste management. They have mobilized volunteers to clean up the city, collected tons of waste, and engaged in educational initiatives to promote responsible consumption and a zero-waste lifestyle.
Starbucks paid £7.2m in UK corporation tax despite gross profit of £149m
Starbucks paid a low £7.2m in UK corporation tax last year despite making a gross profit of £149m on sales of £548m in Britain.
Congress Manifesto 2024: Party Promises To Enact Direct Taxes Code, Abolish Angel Tax
The Congress Party has vowed to initiate a comprehensive overhaul of India’s tax system, labeling the past decade as a period of ‘taxation gone berserk’.
Africa is on the verge of a building boom. Will it be green?
The building boom in African countries presents an opportunity to adopt green design techniques and climate-friendly materials to reduce emissions. However, challenges such as material shortages and under-investment hinder the transition to sustainable construction. Nigeria’s population is projected to double by 2050, creating a housing deficit, and innovative technologies are needed to green the building sector. Governments can play a key role by implementing mandatory building codes and investing in green alternatives.