JetBlue Airways is suing the Florida Department of Revenue over $631,000 in corporate taxes, arguing the state unlawfully extends its geographical boundaries, resulting in unconstitutional double taxation. JetBlue Airways initiated legal action against the Florida Department of Revenue on July 19, challenging an assessment of additional corporate income taxes for the years 2019 to 2021. … Read more
PwC India has recommended the government extend the concessional corporate tax rate of 15% (ended in FY24) for new manufacturing units for a period of at least five years, to boost domestic manufacturing, and foster import substitution. This is a key ask of industry which the Centre should consider for the full Budget, PwC partners … 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
Budget 2024 expectations: The Tax Policy Forum of the US-India Strategic Partnership Forum (USISPF) has submitted its wishlist ahead of the Union Budget for 2024-25, which will be tabled in the third week of July. The US-India Tax Forum has recommended that the government should establish equality in the tax obligations of domestic and foreign … Read more
The US-India Tax Forum, a dedicated policy group within the US-India Strategic Partnership Forum (USISPF), submitted a set of tax amendment recommendations for India’s Union Budget 2024-25.Union Finance Minister Nirmala Sitharaman will present the Budget on July 23. The proposals aim to foster a stable and predictable tax environment to boost investment sentiment across various … Read more
IRS is focused on Businesses since the passage of the Inflation Reduction Act. Under the Strategic Operating Plan (funded by the Inflation Reduction Act), the IRS is increasing audit rates, expanding enforcement and targeting non-compliance for business taxpayers. IRS compliance efforts are geared towards having the IRS compliance teams better detect tax cheating, identify emerging … Read more
Shareholders at three of the world’s largest oil companies recently turned down tax transparency proposals from an activist investor. At Chevron, a proposal to publicly report the company’s earnings and tax bills in every country where it operates was defeated on May 29; 85% of votes were against the proposal. The shareholders followed recommendations from … Read more
Trump Income Tax and Tariff Proposals: Details & Analysis Skip to content Home • Blog • Five Things to Know about Trump’s Tariff and Income Tax Proposals Trump took his affinity for tariffs much further, floating the possibility of entirely replacing the federal income tax with new tariffs. He also raised other ideas like eliminating … Read more
Strike action at state hospitals in Cyprus looms as doctors’ unions prepare to announce their next steps on Monday, raising concerns about potential disruptions to healthcare services. The Pancyprian Association of Government Doctors (PASYKI) and the Union of Cyprus Public Employees (PASYDY) are set to meet on Monday to finalise joint measures, including the timing … Read more
The latest meeting between Turkish Cypriot farmers and the north’s ‘government’ over the ongoing dispute regarding imported meat ended without result on Friday, the north’s animal producers’ and breeders’ union chairman Mustafa Naimogullari said on Friday.Naimogullari had met with ‘prime minister’ Unal Ustel, ‘finance minister’ Ozdemir Berova, ‘agriculture minister’ Huseyin Cavus, and ‘economy minister’ Olgun … Read more