Unlike many other pro-growth tax reform provisions, the corporate tax rate isn’t set to expire at the end of 2025, but some policymakers and President Biden have proposed increasing it. The NAM recently talked to Rep. Carol Miller (R-WV), the head of the House Ways and Means Committee’s Supply Chain Tax Team, about how raising … Read more
Artificial intelligence and ERP systems are a critical way to optimize data management and streamline tax operations in corporate tax functions Corporate tax departments face many challenges in today’s complex and dynamic tax environment, having to deal with large volumes of data from various sources, ensure accuracy and consistency in tax reporting and compliance, and … Read more
Modi 3.0’s first Budget proposed to slash tax rates for foreign companies investing in India, a move seen as providing more fillip to inviting more overseas players as the Narendra Modi government seeks to grab the supply chain shift from China.The Budget was expected to be a transformative step towards achieving the government’s goal of … Read more
Global Tax Agreement: Details & Analysis | EU Global Minimum Tax Skip to content Home • Blog • The Latest on the Global Tax Agreement See Full Timeline In recent years, countries have debated significant changes to international tax rules affecting multinational companies. In October 2021, after negotiations at the Organisation for Economic Co-Operation and … Read more
Budget 2024 expectations: The Tax Policy Forum of the US-India Strategic Partnership Forum (USISPF) has submitted its wishlist ahead of the Union Budget for 2024-25, which will be tabled in the third week of July. The US-India Tax Forum has recommended that the government should establish equality in the tax obligations of domestic and foreign … Read more
The US-India Tax Forum, a dedicated policy group within the US-India Strategic Partnership Forum (USISPF), submitted a set of tax amendment recommendations for India’s Union Budget 2024-25.Union Finance Minister Nirmala Sitharaman will present the Budget on July 23. The proposals aim to foster a stable and predictable tax environment to boost investment sentiment across various … Read more
NJBIA President and CEO Michele Siekerka provided the following testimony to the Assembly Budget Committee on Wednesday night regarding bill A-4704/S-3513, which calls for a Corporate Transit Tax of 2.5% on New Jersey businesses with net income of $10 million, retroactive to Jan. 1, 2024, despite Gov. Phil Murphy’s prior decision to sunset a 2.5% … Read more
Over the strong objections of NJBIA and other business groups, the Senate and Assembly budget committees advanced a $56.6 billion state budget supported by a $1 billion tax increase on the business community Wednesday night. This action sets the stage for final votes by both houses of the Legislature on Friday. Gov. Phil Murphy is … Read more
– Treasury secretary Steven Kennedy defended Australia’s company tax rate as appropriate and supportive of a sustainable federal budget.
– Australia’s tax system is not considered uncompetitive compared to global standards.
– Large companies in Australia are subject to a federal tax rate of 30%, while small or medium businesses face a 25% rate.
– The limited supply of new dwellings is making houses unaffordable for households.
– The pandemic has contributed to sluggish construction in the housing market.
– Supply chain bottlenecks and inflated costs of materials and financing are compounding existing structural issues in the housing market.
President Nikos Christodoulides emphasized the important contribution of shipping to the economic development of Cyprus and stated that his administration will continue to work towards the sustainable development of Cypriot shipping.