JetBlue Airways is suing the state of Florida for overcharging the airline by more than $631,630 in corporate income tax, according to its complaint that was filed in Leon County.The complaint, filed July 19 in Leon Circuit Civil court, says the airline contested the “entire amount of the additional corporate income tax for the years … Read more
Loblaw chairman Galen Weston Jr, the creaseless face of inherited Canadian wealth, smiled serenely at parliamentarians as he explained why, when it came to rising food prices, his company was blameless. Speaking to an agri-food committee in the spring of 2023, he told them that Loblaw’s profit “goes back into the country.” “The profit we … Read more
The General Directorate of Taxes (DGT) on June 11, 2024, issued two binding rulings (V1382-24 and V1383-24) regarding how to compute the limits applicable to the deductibility of expenses relating to the insurance claims reserves for corporate income tax purposes and, more specifically, how to factor into said limitations the income arising in connection with … Read more
June 20, 2024 Click for PDF Moore v. United States, No. 22-800 – Decided June 20, 2024 Today, in a case widely seen as a test of Congress’s ability to enact wealth taxes, the Supreme Court held narrowly that Congress did not violate the Sixteenth Amendment by requiring U.S. shareholders to pay a one-time tax on … Read more
In small economies such as Cyprus, investment opportunities are limited, especially those which can produce reasonable returns in relation to the risk involved. Due to the introduction of the general public health system, various groups of investors (including foreign ones) have turned their interest towards health related projects, either as healthcare centres or simply as … Read more
June 6, 2024 Click for PDF Connelly v. United States, No. 23-146 – Decided June 6, 2024 Today, the Supreme Court unanimously held that the proceeds from a life insurance policy taken out by a corporation to redeem a decedent shareholder’s stock are a corporate asset for federal estate tax purposes. “An obligation to redeem shares … Read more
By Naeem Aslam Friday is all about one thing, the mother of all economic data which is most important to traders of gold and Bitcoin. The U.S. will disclose the most crucial economic reading, the non-farm payrolls unemployment figure. The Federal Reserve and other market participants place a high value on this information, considering that … Read more
Police in Paphos are searching for a minor in connection with a quad bike theft and traffic offences. A 14-year-old has already been identified and arrested for the same case.
Limassol is hosting the Summer Jazz Project and More at LOEL Winery from June 14 to 16, featuring two bands each night with music from Latin America, the USA, France, Brazil, and beyond. The event will showcase genres like Swing Jazz, dance tunes from the 70s, 80s, 90s, and 00s, as well as tributes to Antônio Carlos Jobim and classic French and American jazz. The event aims to support Cypriot musicians and music.
Cyprus has investigated allegations that Ukrainian President Volodymyr Zelenskyy was involved in purchasing a casino resort in the occupied north but found no evidence to support the claims. The reports linking Zelenskyy to the offshore firm and the purchase of the Vuni Palace Hotel and Casino in Kyrenia were dismissed as fake news by the Russian “GnidaProject” research institute. The Cyprus Investigative Reporting Network (CIReN) also pointed out that the website used as a source for the allegations was fake, created just days before the claims were made.