Analysis: Morningstar DBRS Just a day to the UK general election on 4th July and a change in government looks imminent. The Labour party has continued to lead in the voting intention polls and if polls prove right, Labour will form the next government. After 14 years of a Conservative-led government, a change to Labour … Read more
The foreign resident capital gains tax regime will be tightened by broadening the types of assets subject to CGT, implementing a 365-day testing period for the principal asset test, and requiring foreign residents to notify the ATO before disposing of shares exceeding million in value. These amendments aim to clarify which assets are subject to CGT and prevent tax avoidance by foreign residents. The changes will apply to CGT events starting from 1 July 2025, with no grandfathering for existing assets.
Fact: The 2017 Tax Cuts and Jobs Act (TCJA) lowered the top corporate tax rate from 35 to 21 percent, leading to a sharp drop in corporate tax revenues initially, but they returned to pre-TCJA levels starting in 2021.
The cost of extending the 2017 tax cuts for households, small businesses, and wealthy individuals enacted under President Donald Trump has expanded to .6 trillion, according to new estimates from Congress’ fiscal scorekeeper.
Capital Intelligence has revised upwards the sovereign ratings for Cyprus due to a faster than projected decline in general government debt, consistent primary fiscal surpluses, proactive debt management, progress in clearing up non-performing loans in the banking system, and declining government contingent liabilities from the banking sector.
Capital Intelligence Ratings has revised its long-term foreign currency rating outlook for the Republic of Cyprus from stable to positive. The government’s debt has been reduced due to consistent primary fiscal surpluses and proactive debt management.