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What does Brexit mean for tax havens and the City of London?

TweetShareSharePin0 Shares By Nicholas Shaxson It is Mansion House time again. Every year Britain’s Chancellor (finance minister) makes a speech at Mansion House, a spiritual home of Britain’s financial sector and the official residence of the Lord Mayor of London, where he (the Chancellor is always a ‘he’) declares his love and support for the

Big Deficit, Big Backing | Tax Policy Center

TweetShareSharePin0 Shares CBO: Federal deficit will reach $3 trillion in 2021. Largely because of its response to the coronavirus pandemic, the federal government will spend $6.8 trillion in 2021 and collect $3.8 trillion in revenue. The $3 trillion deficit will be slightly less than last year since US is likely to collect more revenue as

Investing In Oil And Gas Opportunities

TweetShareSharePin0 SharesInvesting In Oil And Gas Opportunities Investing in direct participation, or working interest ownership in new oil & gas prospects being offered by only the very best oil & gas independents, and broker/dealers is now a pretty common way to beat the stock market, and just about any other passive investment being offered to

What’s in Arizona’s Tax Reform Package?

TweetShareSharePin0 Shares After weeks of deliberations, Arizona Gov. Doug Ducey (R) this week signed into law a budget for fiscal year (FY) 2022 that reduces the state’s individual income tax rates and consolidates brackets, a plan that will help restore Arizona’s reputation as a low-tax alternative to California. The enacted law kept the basic framework

What’s in the New Global Tax Agreement?

TweetShareSharePin0 Shares In recent years, countries have been debating significant changes to international tax rules that apply to multinational companies. This week there was a breakthrough in discussions, and an outline for the new rules was released by the Organisation for Economic Co-operation and Development (OECD). If today’s global tax agreement is fully implemented, large

Investing – Tax Shelters Equals Big Fine For Kpmg

TweetShareSharePin0 SharesInvesting – Tax Shelters Equals Big Fine For Kpmg What happens when a world renowned accounting firm decides to market tax shelters to its elite clientele? The first thing that happens is that the client buys them because of the source. In this case the source is utterly reliable; KPMG is one of the

How to stop #LuxLetters and the abuse of tax rulings

TweetShareSharePin0 Shares Written by Leyla Ates, Andres Knobel, and Markus Meinzer. One of the most powerful tactics a multinational corporation can use to abuse tax is to secure a tax ruling in one country that gives the corporation written permission to exercise an abusive interpretation of the country’s tax law in a way that ultimately

State & Local Tax Structure Has a Critical Impact

TweetShareSharePin0 Shares While high top tax rates may provide “sticker shock” for corporations looking for a state to call home, they are just one of several important drivers of businesses’ tax burdens and tax compliance costs. The tax base, and more broadly, the structure of the tax code, play a large role in business taxes

Proposals to Fix Upcoming Federal Tax Changes

TweetShareSharePin0 Shares Three upcoming tax law changes scheduled by the 2017 Tax Cuts and Jobs Act (TCJA) to help offset its revenue losses would be canceled by proposed legislation that would prevent the tax treatment of investment from worsening over the coming years. Three Upcoming Tax Increases on Investment Policy Timing Requirement to amortize R&D
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