BEAT Overview The base erosion and anti-abuse tax (BEAT) is a minimum tax (5% in 2018, 10% in 2019 to 2025 and 12.5% after 2025) imposed on applicable taxpayers that make certain base erosion payments to foreign related parties. This tax is in addition to a corporation’s regular income tax liability. Corporations that average at … 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
There is a lot of discussion about what is more beneficial to the taxpayer – to build or rent government offices or even buy ready office buildings from the open market. Some uninformed reports blow up the rental payment issue out of all proportion in the sense that the government is spending €26 mln a … Read more
Facing a deadline just days away, New Jersey lawmakers Wednesday night introduced and quickly began approving a record new $56.6 billion state budget that’s backed by a new tax hike on large companies, adds some funding for property-tax relief, and includes big spending on public schools and pensions.But Democratic leaders once again faced objections from … Read more
The Commissioner for Administration, Maria Stylianou-Lottides, has ignited a firestorm within the Asylum Service after a scathing report revealed significant delays in processing international protection applications from Syrian refugees. The report, prompted by a surge of complaints from frustrated applicants, exposes a bureaucratic nightmare with some Syrians waiting two to five years for a decision … Read more
Education Minister Athena Michaelidou In a heatwave-inspired move, 50 air-conditioning units are to be installed in public schools over the next few days, with plans to cover all schools over a three-year period.Education Minister Athena Michaelidou said the aim was to start earlier, however, there were delays. Each district will be receiving ten units for … Read more
The Housing Finance Corporation has lost its social character due to understaffing, leading to delays in loan processing that frustrate potential borrowers. This issue was highlighted in a recent report, emphasizing the urgent need to address housing as a social issue. AKEL and SEK are calling for the government to strengthen the HFC and implement measures to help middle and lower-income households acquire housing. The state must provide immediate solutions to address the critical housing problem faced by citizens, especially the youth.
Aircraft shortages have allowed airlines like Frontier Airlines and Wizz Air to sell new planes to leasing companies at higher prices than they paid, resulting in gains of hundreds of millions of dollars. The tight airliner market has made sale-and-leaseback transactions more attractive, with US airlines accounting for a larger share of these deals. New aircraft prices are 20% higher than pre-pandemic levels, leading to soaring lease rates. Airlines are spending 30% more on aircraft leases than before the pandemic.
Jannik Sinner advanced to the French Open quarter-finals after defeating Corentin Moutet.
There are ongoing efforts to find a solution for the Vasiliko liquefied natural gas (LNG) terminal project, with no discussions of a “velvet divorce” with Chinese state-owned company CPP.