Saturday, 20 July 2019

Tag Archives: Tax

US ‘threats’ not way to solve digital tax law dispute: France

PARIS:  France rejected a US investigation into its plans to tax internet giants which could trigger punitive tariffs, saying “threats” were not the way to resolve disputes. “Between allies, I believe we can and must resolve our differences in another way than through threats,” Economy Minister Bruno le Maire told ...

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Germany, France ‘in fresh push for EU financial transaction tax’

BRUSSELS: Germany and France will on Monday seek to revive the long-delayed EU financial transaction tax by proposing that member states be allowed to use the revenues to reduce their EU budget contributions, a German newspaper reported. Germany’s Olaf Scholz and his French counterpart Bruno Le Maire will present their ...

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EU removes 8 countries from controversital tax blacklist

European Union finance ministers have removed eight countries, including much-criticized Panama, from a tax haven blacklist. Ministers say the jurisdictions have committed to making reforms that meet EU standards of tax transparency. But the nature of those reforms is not yet public. “I understand that some countries move from the ...

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France, Germany to propose new tax on internet giants

PARIS: France and Germany plan to issue a new proposal to tax internet giants so that they pay a “fair contribution” in every country where they earn money, French finance minister Bruno Le Maire said Sunday. “We will unveil a new plan along with our German partners at the next ...

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Is Bitcoin the future of currency

Bitcoin’s future as an alternative currency has generated a considerable amount of debate in financial parlors. A Bitcoin is merely a transfer of value between addresses. Every time you want to transact, an address is created and transfer of value takes place. When you are on the receiving end, a ...

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Insurance costs to rise as new tax increase comes into force

LONDON: Millions of people are facing increased insurance bills as a tax hike takes effect from Thursday, according to warnings from the industry. Those who already pay more for their insurance face the heaviest burden, such as young drivers and those living in flood risk areas, the British Insurance Brokers’ ...

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Google reveals £36 m UK tax bill

LONDON: The US search engine giant recorded sales of £1.03bn and a pre-tax profit of £149m in the UK for the 12 months to the end of June 2016. Like other major tech firms, Google has come under pressure over its tax arrangements. Labour said the firm was still not ...

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UK foreign secretary gives up American citizenship

Boris Johnson

LONDON: British Foreign Secretary Boris Johnson surrendered his citizenship in 2016. The Internal Revenue Service data published Wednesday shows that 5,411 people said goodbye to being American last year. The number of Americans surrendering their citizenship or long-term US residency is at an all-time high. “The escalation of offshore penalties over ...

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Meet the new boss

ALTHOUGH he styles himself as a chief executive who can turn the country around, Donald Trump is an outsider in the world of American business. His commercial operation is tiny by the standards of the country’s mega-firms and few of their bosses have ever viewed the president-elect as an equal ...

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