After 18 months of non-stop hype and rapid-fire launches of new, easily accessible consumer-facing tools, it may seem like everyone is experimenting with generative artificial intelligence (GenAI). In fact, according to the new Thomson Reuters Future of Professionals Report, almost two-thirds (63%) of professionals working in the legal, tax, and risk & compliance sectors say … Read more
Turkey is planning major tax changes as part of an economic reform proposal that aims to shore up government revenue, reduce inflation and “create a fairer system”.The parliament, controlled by a coalition led by President Recep Tayyip Erdogan’s Justice and Development Party (AKP), will vote next week on a package of major new fiscal laws, … Read more
Budget Tax Announcements: Finance Minister Nirmala Sitharaman may declare India’s commitment to ‘Pillar 2’, aiming to implement a global minimum effective corporate tax rate of 15%, during the upcoming Budget, ToI reported. This initiative, led by the Organisation for Economic Cooperation and Development (OECD) and supported by the G20, targets multinational enterprise groups with annual … Read more
LINCOLN — Nebraska’s tax receipts for the 2023-24 fiscal year released Monday came in 0.1% below the most recent projections. In the past year, the State of Nebraska collected $7.156 billion for the state’s general pocketbook, about $10.6 million below a Feb. 29 forecasting projection. The reported general fund tax receipts include net sales and use … Read more
Global Tax Agreement: Details & Analysis | EU Global Minimum Tax Skip to content Home • Blog • The Latest on the Global Tax Agreement See Full Timeline In recent years, countries have debated significant changes to international tax rules affecting multinational companies. In October 2021, after negotiations at the Organisation for Economic Co-Operation and … 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
Oman’s Shura Council has forwarded a draft law on personal income tax to the State Council, a move that suggests the idea is gaining momentum in the sultanate. BloombergOman’s Shura Council has forwarded a draft law on personal income tax to the State Council, a move that suggests the idea is gaining momentum in the … Read more
Wealth Tax Impact: Details & Analysis | Tax Foundation Skip to content Colombia, Norway, Spain, and Switzerland. Countries have repealed their wealth taxes for a variety of reasons. They raise little revenue, create high administrative costs, and induce an outflow of wealthy individuals and their money. Many policymakers have also recognized that high taxes on … Read more
proposed regulations that would provide new guidance related to the tax. Those regulations were made final on June 28, 2024, and scheduled for publication in the Federal Register on July 3, 2024. Corporate Buybacks A stock buyback is precisely what it sounds like a company repurchases shares from its shareholders directly or from the open … Read more
A drive by Türkiye ‘s government to modernize the country’s tax system will seek to boost revenue by tackling tax avoidance and scrapping incentives that are no longer needed rather than raising the overall burden, the finance minister said on Monday. Mehmet Simsek said, however, that preliminary draft proposals being discussed within the government envisioned … Read more