Boris Johnson’s £12bn tax increase to pay for health and social care has cleared the Commons. MPs voted 307 to 251, majority 56, to approve the Health and Social Care Levy Bill. Ten Conservatives rebelled to oppose the legislation: John…
Read MoreJanet Yellen makes a case for Ireland to join the global tax deal.
The United States is hopeful that Ireland will drop its resistance to joining the global tax agreement that it is brokering, as Treasury Secretary Janet L. Yellen made the case to her Irish counterpart this week that it is in…
Read MoreAnti-poverty groups criticise rich countries over G7 tax deal
FRANKFURT (Reuters) – Anti-poverty campaigners on Monday criticised a deal reached by seven wealthy countries to impose a minimum tax on multinational companies, saying it would benefit rich nations at the expense of the poor.FILE PHOTO: Britain’s Chancellor of the…
Read MoreNZ is giving big tech a ‘free ride’ on tax: Expert
Our Government is giving big tech companies like Google and Facebook a “free ride” on tax, a Massey academic claims – while it waits, and waits, on a co-ordinated OECD process she thinks will probably never come to pass because…
Read MoreElectric Vehicle Tax Credits Explained
Electric vehicles are not a new development, as the first EVs in the U.S. were developed well over 100 years ago. Yet even today, EVs make up a low-single-digit percentage of auto sales. Knowing that electric is one of the…
Read MoreU.S. Treasury backs off 21% global minimum corporate tax rate, wants at least 15%
WASHINGTON (Reuters) -The U.S. Treasury Department said it proposed a global minimum corporate tax rate of at least 15% during international tax negotiations on Thursday, backing down from its earlier call for a 21% minimum rate.Slideshow ( 2 images )The…
Read MoreIt is Tax Day. Here’s what you need to know.
By The New York Times It’s May 17 and it’s Tax Day, the deadline for filing your 2020 taxes. The Internal Revenue Service in March said that Americans who needed it could take extra time to file their taxes. That…
Read MoreUAW Suggests EV Tax Credit Should Only Apply To US-Built Cars
This comes on the heels of GM’s and Ford’s plans to build EVs in Mexico. According to a report from Automotive News, late last week the UAW suggested that electric car tax incentives should only apply to cars that are…
Read MoreTax cheats cost the U.S. $1 trillion per year, I.R.S chief says.
By Alan Rappeport The United States is losing approximately $1 trillion in unpaid taxes every year, Charles Rettig, the Internal Revenue Service commissioner, estimated on Tuesday, arguing that the agency lacks the resources to catch tax cheats. The so-called tax…
Read MoreAnalysis: A taxing question for multinationals leaves stocks unscathed
LONDON (Reuters) – A global minimum corporate tax rate could deal a major blow to the multinationals which some governments allege shift billions of dollars in profits every year to low-tax havens, as well as triggering a fundamental reassessment of…
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