Puerto Rico Tax Competitiveness and Pillar Two Skip to content profit shiftingProfit shifting is when multinational companies reduce their tax burden by moving the location of their profits from high-tax countries to low-tax jurisdictions and tax havens. . Pillar Two, the global minimum taxA tax is a mandatory payment or charge collected by local, state, … Read more
here. Despite the fact that the thermometer still reads summer, fall is creeping closer. According to the National Retail Federation, one in five (22%) back-to-school shoppers have already started gearing up for the 2024-25 school year (you can count me as one of them). However, with above-average prices in stores and online, those shoppers are … Read more
Union Budget 2024 Live Updates: As Finance Minister Nirmala Sitharaman prepares for the upcoming Union Budget, the micro, small, and medium enterprises (MSMEs) are hopeful that the government will prioritise and promote their sector.The Finance Minister will present the Union Budget for 2024-25 on July 23, in her third straight term this year.The MSME industry … Read more
Just two of the more than 50 new laws proposed by Oregonians through the ballot initiative process stand a chance at appearing before voters in November. Friday was the deadline for groups to submit the more than 100,000 petition signatures needed to give voters a chance to approve or reject ballot measures. Only two measures … Read more
Building on the strong show seen in financial year 2023-24, Net Direct Taxes collections have surged 19.54 per cent to ₹ 5.74-lakh crore till July 11 this fiscal, official data released by CBDT showed.In the same period (upto July 11) last fiscal, the net direct tax collections stood at ₹4.80-lakh crore.The latest reading of ₹5.74 … Read more
By Nathan Garden, The Charlotte Observer (TNS) It says a lot about our politics that very few of our leaders are talking about one of the most important issues. The small businesses that anchor our economy are about to face a devastating tax hike that will hurt workers and weaken communities. As the owner of … Read more
ONE of the financial incentives for businesses with a permit to operate within a special economic zone is non-payment of corporate tax for 15 years, according to the Special Economic Zone Authority (SEZA). Board Director Vera Raga when giving a presentation during the Port Moresby Chamber of Commerce and Industry (POMCCI) breakfast yesterday highlighted that … Read more
There is increasing attention on the U.S.’s Global Intangible Low-Taxed Income (GILTI) tax and its interaction with new minimum tax rates taking effect around the world under the international Pillar Two initiative. GILTI is currently being reviewed in detail by tax authorities who are looking at how the U.S. might align it with the international … Read more
Vietnam’s draft Corporate Income Tax (CIT) Law proposes changes to incentive eligibility, taxation on capital transfers by foreign investors, and aims to address limitations hindering integration with international best tax practices. Investors and businesses planning market entry or expansion should closely monitor the draft CIT law’s development and prepare for potential impacts on their strategies … Read more
Key performance indicators can drive efficiency, accountability, and strategic success in corporate tax departments, but only if they’re measured and tracked There is a limit to the external factors that impact business professionals; however, anticipating and preparing could be the best defense. In a recent Thomson Reuters Institute report, Challenges and Changes in Indirect Tax … Read more