The GBPUSD pair surrendered its intraday gains and fell back to near 1.2730 in Friday’s New York session as the Cable comes under pressure amid cautious market mood. The S&P 500 opened with some losses, exhibiting that the risk-appetite of investors is weak. The US Dollar consolidated in a tight range, with investors focusing on … Read more
The year-over-year growth rate of a leading indicator used to predict the future direction of economic movements in Cyprus, remained stable in June, as a result of opposing trends within the economic indicators composing the CCLEI, the University of Cyprus said in a monthly report. The Cyprus Composite Leading Economic Index (CCLEI), estimated by the … Read more
Statutory corporate tax rates are stabilising worldwide after a lengthy period of falling rates, according to new OECD data released today. The 2024 edition of OECD Corporate Tax Statistics shows that average statutory corporate income tax (CIT) rates have remained steady at 21.1% over the past three years. This follows a two-decade period that saw … Read more
As we find ourselves in a crucial period of economic transition, with positive but slowing growth, we are facing some critical policy decisions with major impacts on consumers, the retail industry and the broader economy. National Retail Federation Chief Economist Jack Kleinhenz recently highlighted that, much like in 2017, we are in a phase of waiting … Read more
Key performance indicators can drive efficiency, accountability, and strategic success in corporate tax departments, but only if they’re measured and tracked There is a limit to the external factors that impact business professionals; however, anticipating and preparing could be the best defense. In a recent Thomson Reuters Institute report, Challenges and Changes in Indirect Tax … Read more
President Yoon Suk Yeol announces the Dynamic Economy Roadmap and the Economic Policy Direction for the latter half of the year at the Blue House in central Seoul on Wednesday. [YONHAP] The government plans to reduce corporate and inheritance taxes for companies in the “value-up program” and more than double the number of foreign … Read more
The UK election’s influence on the pound is likely to be limited amid widespread expectation of a Labour victory, according to the CEO of a leading independent financial advisory and fintech. The prediction from Nigel Green, deVere Group chief executive, comes as Britain heads to the polls on Thursday, July 4, with the current opposition Labour Party … Read more
Generative Artificial Intelligence (GenAI) is beginning to manifest itself in corporate tax, presenting both advantages and concerns. As a transformative technology capable of generating human-like text, code, and other creative content, GenAI is posed to reshape the tax landscape. Understanding the shift in GenAI adoption The desire to use GenAI in corporate tax has seen … Read more
State economists Mark McMullen, left, and Josh Lehner answer questions from Oregon lawmakers in 2015. McMullen gave his final economic and revenue forecast to a legislative committee on Wednesday.Jonathan J. Cooper / AP Oregon economists offered caution Wednesday that a financial rough patch could be on the horizon — but that might not be enough … Read more
The International Monetary Fund praised Cyprus for its strong economic performance, commending the country for its substantial primary surpluses, efforts to reduce public debt, quick recovery from the pandemic, and resilience in dealing with external shocks. The IMF recommended measures to further strengthen the economy, including phasing out electricity subsidies and VAT exemptions, and advised against further cost-of-living adjustments to wages. Other recommendations included reforms to the justice system, labor markets, and vigilance regarding systemic risks in the real estate market.