Search Results for: income-tax rate
False claim: “free stuff” is funded by these high tax rates in “socialist” EU countries
March 16th, 2020
Multiple accounts on Facebook are circulating an image which makes the claim that high tax rates in European countries are behind “free stuff” advocated for by “socialism”. The image gives a breakdown of income, VAT, and gasoline taxes in ...
Ryan Tax Plan Cuts Corporate Rate to 20% to Stem Inversions
June 27th, 2016
U.S. corporations would get the largest federal income-tax rate cut in history, and their foreign earnings would no longer face domestic taxes when they return to the U.S. under a plan that House Republicans unveiled Friday. The changes would ...
Top 10 Reasons to Abolish the Corporate Income Tax
December 30th, 2014
America’s corporate income tax rate, at 35%, is the highest in the world. A rising chorus would like to bring it more in line with foreign rates, which average around 23%. I have a better idea—abolish the tax. The ...
Latest Saudi Arabia Tax and VAT updates; No VAT and Tax to pay
April 10th, 2017
No income tax for Saudi citizens, says finance minister Kingdom will keep VAT at 5% until 2020, and impose 50% tax on soft drinks, 100% on tobacco products from Q2 Saudi Arabia has reiterated that citizens will not pay ...
France announces €1bn pre-election cut in income tax
September 13th, 2016
Move to benefit more than five million households with average gain of nearly €200 The French government will cut income tax by €1 billion in its 2017 budget, the finance ministry said on Friday, seeking to ease the pain ...
Bitcoin At Tax Time: What You Need To Know About Trading, Tipping, Mining And More
December 17th, 2015
If you have come into possession of Bitcoin or any other digital currency such as Ripple or Litecoin that is “convertible” to a real currency or can be used to pay for goods and services, it may seem virtual. But ...
AICPA Makes Suggestions on How Business Income Tax Can be Simplified
April 6th, 2015
In a letter submitted on Tuesday to the Senate Finance Committee Tax Reform Working Group on Business Income Tax, the American Institute of CPAs (AICPA) made the following four recommendations about how to simplify business income tax. 1. Cash method of ...
IRS said to make $13B in improper refunds
May 14th, 2014
The U.S. government doled out more than $13 billion last year in improper payments of a tax credit meant to help the working poor, according to a government watchdog. One of the country’s largest cash assistance programs, the so-called ...
Tax inspections in Greece are increasing
April 30th, 2014
It’s Saturday night going on Sunday morning at a club near the gated homes of the Greek elite in northern Athens as two men and a woman in business suits push through the crowd and demand to see the ...
Income tax rises across OECD
April 14th, 2014
Personal income tax has risen in 25 of the 34 OECD nations over the past three years, as countries reduce the value of tax-free allowances and tax credits and subject higher proportions of earnings to tax, the body has ...
