Treasury Department Archive
Playing Russian Roulette With The Federal Debt
December 13, 2022
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TweetShareSharePin0 Shares Congress should eliminate the debt ceiling this year. It serves no useful purpose. It doesn’t contribute to fiscal discipline, and breaching it entails large, potentially, catastrophic costs. Those risks could become painfully apparent sometime next year. Not only will the current borrowing limit be reached but influential lawmakers already are threatening to hold
Dealmaking Continues, In Congress And Abroad
December 13, 2022
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TweetShareSharePin0 Shares An expanded child tax credit with some work requirements? Politico reports that the White House may agree to bar those who don’t work from claiming the credit. Progressives are pushing hard for a more generous credit that resembles the 2021 version and includes a full benefit for those with no income. But Republicans
‘Strong on risks, loose on solutions’: our response to FATF consultation on Recommendation 24
December 13, 2022
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TweetShareSharePin0 Shares The Tax Justice Network’s submission to the Financial Action Task Force’s open consultation on Guidance on Recommendation 24 on beneficial ownership transparency for legal persons is published in full below. The Financial Action Task Force (FATF) in charge of the Recommendations on Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) has opened
Tax Justice Network Arabic podcast #60: كأس العالم: الجانب المُظلم من قطر
December 13, 2022
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TweetShareSharePin0 Shares Welcome to the 60th edition of our Arabic podcast/radio show Taxes Simply الجباية ببساطة contributing to tax justice public debate around the world. It’s produced and presented by Walid Ben Rhouma and is available on most podcast apps. Any radio station is welcome to broadcast it for free and websites are also welcome to share it. You can follow
Local Taxes: Sales Taxes & Local Tourism Taxes
December 13, 2022
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TweetShareSharePin0 Shares Key Findings Central administration of local taxes is a common feature of sales taxes but is less common for income, tourism, and other local taxes. Absent centralized administration, localities increase their administrative costs, impose substantial additional compliance costs on businesses, and reduce overall levels of compliance. A patchwork approach to local tax administration
Corporate Tax Rates by Country | Corporate Tax Trends
December 13, 2022
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TweetShareSharePin0 Shares Key Findings In 2022, 16 countries made changes to their statutory corporate income tax rates. Six countries—Colombia, South Sudan, Netherlands, Turkey, Chile, and Montenegro—increased their top corporate tax rates, while 10 countries—including France, Greece, and Monaco—reduced their corporate tax rates. Comoros (50 percent), Puerto Rico (37.5 percent), and Suriname (36 percent) are the jurisdictions
Sam Bankman-Fried Arrested In the Bahamas, Celebrity Ambassadors Not Charged
December 13, 2022
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TweetShareSharePin0 Shares Bahamian and United States authorities have cooperated to arrest FTX founder Sam Bankman-Fried in the island nation. Credit: Craig Barritt/Getty Images The New York Times reports that the former cryptocurrency wunderkind, 30, is facing multiple charges, including wire fraud, wire fraud conspiracy, securities fraud, securities fraud conspiracy, and money laundering. Bankman-Fried is the
Federal Jury Convicts Father and Son In $20 Million Lottery Scam
December 13, 2022
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TweetShareSharePin0 Shares A Massachusetts federal jury has convicted a father and son duo on lottery scam charges. Credit: Jodi Jacobson/Getty Images According to an official release from the United States Attorney’s Office, District of Massachusetts, Ali Jaafar, 63, and Yousef Jaafar, 29, were each convicted of one count of conspiracy to defraud the Internal Revenue
Hoja de ruta para un cambio en toda América Latina: December 2022 Spanish language tax justice podcast, Justicia ImPositiva
December 12, 2022
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TweetShareSharePin0 Shares Welcome to our Spanish language podcast and radio programme Justicia ImPositiva with Marcelo Justo and Marta Nuñez, free to download and broadcast on radio networks across Latin America and Spain. ¡Bienvenidos y bienvenidas a nuestro podcast y programa radiofónico! Escuche por su app de podcast. En este programa con Marcelo Justo and Marta Nuñez: La reforma tributaria
Shutdown Deadline Looms While Congress Continues Negotiations
December 12, 2022
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TweetShareSharePin0 Shares Congress will likely need more time after the Dec. 16 deadline. Expect a very short-term continuing resolution to keep the government open, likely until Dec. 23. Democrats say they’ll release a new funding plan this week but the GOP is unlikely to back it. Sen. Chris Van Hollen says Democrats would push for
