ownership

Updated FinCEN FAQs Provide Three Important Clarifications on Reporting Obligations Under the Corporate Transparency Act (CTA) | JD Supra

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Updated FinCEN FAQs Provide Three Important Clarifications on Reporting Obligations Under the Corporate Transparency Act (CTA) | JD Supra

The Corporate Transparency Act (the CTA) went into effect earlier this year, although many uncertainties about the CTA’s application still remain. To help remedy those uncertainties, the Financial Crimes Enforcement Network (FinCEN) has updated its FAQs several times since the CTA has gone into effect. The current FAQs provide three important clarifications that subject companies … Read more

China Tax Incentive for Green and Digital Upgrade of Special Equipment

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China Tax Incentive for Green and Digital Upgrade of Special Equipment

A new China tax incentive aims to encourage companies to invest in digital and smart upgrades of special equipment. Companies upgrading certain equipment that aids environmental protection and safe production can enjoy a deduction of the investment at a rate of 10 percent from their corporate income tax payable. We explain the requirements of the … Read more

Cyprus real estate on steady path , – what’s lies ahead?

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Cyprus real estate on steady path , – what’s lies ahead?

In the near future, the Cyprus property market is expected to continue on its dynamic path, however, it will not be a bed of roses, and strategic planning will be crucial to navigate changes and challenges ahead. In the next couple of years, we should expect to experience moderate growth as high interest rates stabilise … Read more

Use taxes as way to thwart growing corporate ownership of homes

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Use taxes as way to thwart growing corporate ownership of homes

Re “County to crack down on corporate homebuyers and landlords amid record prices” (July 16): For years we have seen corporations paying cash to buy more and more houses, then rent them. The article mentions the numbers are only increasing.How about this simple partial solution: The county decides upon a maximum number of homes that … Read more

Corporate Tax Breaks Contribute to Income and Racial Inequality and Shift Resources to Foreign Investors

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Corporate Tax Breaks Contribute to Income and Racial Inequality and Shift Resources to Foreign Investors

This report is a modified version of an earlier report ITEP published in collaboration with Liberation in a Generation. 1. Corporate tax cuts and corporate tax avoidance worsen income inequality. When corporations are allowed to pay less in taxes, the ultimate beneficiaries are mainly the owners of corporate stocks, who are concentrated among the wealthiest … Read more

IRS Business Audit | JD Supra

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IRS Business Audit | JD Supra

IRS is focused on Businesses since the passage of the Inflation Reduction Act. Under the Strategic Operating Plan (funded by the Inflation Reduction Act), the IRS is increasing audit rates, expanding enforcement and targeting non-compliance for business taxpayers. IRS compliance efforts are geared towards having the IRS compliance teams better detect tax cheating, identify emerging … Read more

The High Cost of Wealth Taxes

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The High Cost of Wealth Taxes

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

IRS Issues Final Regulations For Tax On Corporate Stock Buybacks

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IRS Issues Final Regulations For Tax On Corporate Stock Buybacks

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

Which way to go with government offices

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Which way to go with government offices

There is a lot of discussion about what is more beneficial to the taxpayer –  to build or rent government offices or even buy ready office buildings from the open market. Some uninformed reports blow up the rental payment issue out of all proportion in the sense that the government is spending €26 mln a … Read more

Who Benefits and Who Pays: How Corporate Tax Breaks Drive Inequality

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Who Benefits and Who Pays: How Corporate Tax Breaks Drive Inequality

This report was produced in partnership with Liberation in a Generation and co-authored by that organization’s Jeremie Greer, Emanuel Nieves, and Solana Rice. Read the full report here. Policies that provide corporate tax breaks and allow corporate tax avoidance exacerbate racial and income disparities in our economy. These policies limit revenue raised that could finance … Read more