Capital Allowances in Europe, 2024 | Tax Foundation Skip to content capital allowances play an important role in a country’s corporate tax baseThe tax base is the total amount of income, property, assets, consumption, transactions, or other economic activity subject to taxation by a tax authority. A narrow tax base is non-neutral and inefficient. A … Read more
Vice President Kamala Harris backs hiking the current 21% federal corporate income tax rate to 35%, higher than socialist Venezuela’s 34% rate. Vice President Harris’ plan is also significantly higher than President Biden’s proposed plan to hike the corporate rate to 28%. The Harris 35% rate would saddle America with one of the highest corporate … Read more
A lot of investment has been undertaken for touristic development ranging from hotels to quality places of entertainment and even more important addressing the upgrading of staff, food and service. Previous years with the tourist arrivals have been increasing by approximately 8% p.a. and this, coupled with the planning relaxation given by the then Government, … Read more
Patent Box Regimes in Europe, 2024 Skip to content Patent boxA patent box—also referred to as intellectual property (IP) regime—taxes business income earned from IP at a rate below the statutory corporate income tax rate, aiming to encourage local research and development. Many patent boxes around the world have undergone substantial reforms due to profit … Read more
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
R&D Tax Subsidies in Europe | Tax Subsidies for R&D Expenditures Skip to content R&D tax incentives. These generally take two forms, namely patent boxes—taxing income derived from intellectual property at a rate below the statutory corporate income taxA corporate income tax (CIT) is levied by federal and state governments on business profits. Many companies … 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 Countries have repealed their wealth taxes for a variety of reasons.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
Investment is the engine of growth.A permanently high corporation tax (CT) rate could severely damage future investment into the UK and stifle homegrown entrepreneurship at a time when this country needs both desperately.Is there an alternative? Perhaps our nearest neighbour provides the perfect example.Let’s look at Ireland’s experience of a long-term tax strategy and a … Read more
Unhedged podcast episode: ‘The billionaires’ tax’[MUSIC PLAYING]Robert ArmstrongThe G20 group, which represents the world’s largest economies, is discussing a billionaires’ tax for the first time. Today on the show, why are the very, very rich so very, very rich? Is it a problem and what should we do about it? This is Unhedged, the finance … Read more
Germany and Europe are preparing for two significant events: the European Parliament elections and the UEFA EURO 2024 football tournament in Germany. The German Ambassador to Cyprus expressed concern about the rise of right-wing parties in the elections and emphasized Germany’s support for a solution to the Cyprus issue based on UN resolutions. Germany aims to host EURO 2024 as a symbol of cohesion in Europe, promoting sustainability, diversity, and inclusion. Germany also advocates for a strong and united EU, despite facing challenges like Putin’s war in Ukraine. The 2004 enlargement of the EU serves as a lesson on the importance of unity and speaking with one voice in foreign policy. Germany’s proposals for EU decision-making reform aim to ensure the Union remains capable of action. Germany is committed to supporting Cyprus in finding a comprehensive solution to the Cyprus issue, emphasizing the importance of confidence-building between Greek-Cypriot and Turkish-Cypriot communities.