Despite repeated warnings about the potential once-off nature of corporation tax receipts and the concentration risk of having so few firms paying the bulk of the money, Ireland continues to hit the business tax jackpot.Revenue from the tax swelled to a record €23.8 billion last year, almost six times the amount garnered in 2014. It … Read more
Donald Trump reduced the corporate tax rate from 28% to 21% during his previous presidency and intends to further reduce it to 15% if elected again this year. Now, Trump proposes lowering the corporate tax rate to 15%, potentially cutting the US corporate tax rate by nearly half.In a wide-ranging interview on business and the … 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
A corporate employee’s candid reflections on the toll of modern work culture have resonated with numerous individuals online. The woman’s post on social media platform X (formerly Twitter), encapsulating the exhaustion and lack of personal fulfilment felt by countless workers, has ignited extensive debate on social media regarding the trade-off between productivity and personal well-being. … Read more
June 20, 2024 June 20, 2024 Today, seven of the nine justices on the U.S. Supreme Court upheld the constitutionality of a tax on offshore corporate profits that was one of the few significant revenue-raisers in the Trump tax law. If the Court had agreed with the plaintiffs in the case — as well as … Read more
Samsung Electronics (005930.KS) said on Thursday its chairman met with the heads of Meta (META.O), Qualcomm (QCOM.O) and Amazon (AMZN.O) this week to discuss cooperation and that topics included artificial intelligence, cloud services and chips.Meta’s Mark Zuckerberg invited Jay Y. Lee to his home on Tuesday and their discussions spanned AI as well as virtual … Read more
We know that “privately, Trump has told allies that he is keenly interested in cutting corporate tax rates again,” according to The Washington Post, even as corporate profits hit near record highs in 2023. The Post also reported that “Trump’s advisers…have discussed proposals to make deeper cuts to the overall corporate tax rate, potentially to … Read more
Click here to download Briefing Memo on Foreign-Derived Intangible Income (FDII) The 2017 tax reform massively reshaped how U.S. multinationals are taxed on their foreign income, including through the application of a global minimum tax that grants corporations a substantial discount on their foreign profits. This discount gave big multinationals new incentives to stash their … Read more
The world’s leading internet firms are engaging extensively with regulators in the European Union to ensure their artificial-intelligence products comply with data protection rules.
Fact: Republican presidential candidate Donald Trump has joined TikTok, the short video social media platform owned by China-based tech giant ByteDance, ahead of the U.S. elections in November.