Latest News for: Taxes offshore

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BusinessLess than 3% of U.S. small businesses could face tax hikes under Biden plan -White House

Reuters 15 May 2021
Biden's tax plan attempts to "level the playing field" between small businesses and large multinational corporations, by ensuring that big corporations cannot escape or eliminate the taxes they owe by offshoring jobs and profits in the United States, and pay a lower tax rate than small businesses, the White House has said.
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Feds say Swiss company to pay $77M over US tax evaders

Info News 14 May 2021
taxpayers dodge tax responsibilities through offshore accounts after Swiss banks stopped providing tax-dodging help to U.S ... tax evaders," Manhattan U.S ... authorities’ stepped-up offshore tax enforcement as an opportunity to pitch themselves to tax-evading U.S ... tax evaders ... government should put every entity engaged in offshore tax evasion on notice.
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Legal Swiss Life to pay $77.4 mln to settle U.S. criminal tax evasion case

Reuters 14 May 2021
criminal case in which Switzerland's largest insurer was accused of helping wealthy American clients evade taxes ... avoid federal taxes. Swiss Life and its affiliates viewed this "stepped-up offshore tax enforcement as an opportunity to pitch themselves to tax-evading U.S.
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Biden-Harris economics will drive US jobs abroad

The Galveston Daily News 14 May 2021
It want to increase the corporate tax rate from 21 percent to 28 percent, reversing President Trump’s corporate tax cut, leaving the United States with the highest rate in the world ... When Trump and the Republican-controlled Congress reduced the corporate tax rate, 1 trillion dollars returned as repatriated funds.
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Less than 3 pct of U.S. small businesses could face tax hikes under Biden plan -White House

Metro USA 14 May 2021
Biden’s tax plan attempts to “level the playing field” between small businesses and large multinational corporations, by ensuring that big corporations cannot escape or eliminate the taxes they owe by offshoring jobs and profits in the United States, and pay a lower tax rate than small businesses, the White House has said.
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Less than 3% of U.S. small businesses could face tax hikes under Biden plan -White House

Metro USA 14 May 2021
Biden’s tax plan attempts to “level the playing field” between small businesses and large multinational corporations, by ensuring that big corporations cannot escape or eliminate the taxes they owe by offshoring jobs and profits in the United States, and pay a lower tax rate than small businesses, the White House has said.
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Sri Lankan Parliament to debate Port City Bill next week

Beijing News 14 May 2021
Amid criticism from opposition parties, Sri Lanka has unveiled a contentious draft law for a Colombo Port City Commission which allows for sweeping tax breaks, tax-free salaries and be an offshore financial centre ... The agency running the Port City would have extensive powers to exempt businesses from taxes of up for decades, reported economynext.
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Sleaze inquiry into Boris Johnson's £15,000 Mustique holiday with Carrie Symonds finds him guilty of ...

The Daily Mail 14 May 2021
And she said it was clear the bill had not been met by Tory donor and Carphone Warehouse co-founder David Ross, as the Prime Minister claimed ... The company controls the villas – which can cost £20million – and owns the island, part of St Vincent and the Grenadines, a tax haven where offshore trusts, a device for avoiding tax, are commonplace ... .
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Sri Lankan Parliament to debate China-backed Port City Bill next week

Yahoo Daily News 14 May 2021
Amid criticism from opposition parties, Sri Lanka has unveiled a contentious draft law for a Colombo Port City Commission which allows for sweeping tax breaks, tax-free salaries and be an offshore financial centre ... The agency running the Port City would have extensive powers to exempt businesses from taxes of up for decades, reported economynext.
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View from the Left: Restoring corporate tax rate to 35% not socialism

The Bulletin 14 May 2021
Progressive taxation can help, but taxing wealth itself is the ultimate solution ... We must restore the corporate tax rate to 35%, crack down on offshore tax shelters and loopholes, and enact modest transaction fees on financial speculation. Imposing a 45% estate tax on inherited ...
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Louisiana Gov. John Bel Edwards asks President Biden to lift drilling ban by summer

Plaquemine Post South 13 May 2021
resume Gulf leasing by the third quarter and increase our revenue of (offshore) production." ... The governor also said the state needs a bigger share of tax revenue from offshore oil and gas production to address the impact of climate change on Louisiana.
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UK's property and inheritance taxes can get quite tricky for non-British investors

Gulf News 13 May 2021
Britain’s exit from the European Union last year changed many things beyond recognition - and it will have impact on property taxes and inheritance structures as well ... For example, if the deceased person’s estate is worth £5 million and his tax will be 40 per cent, this applies to properties held in any form and even under an offshore company.
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Six things we learned from David Cameron's 'painful day' giving evidence on Greensill lobbying controversy

ITV 13 May 2021
Private jets and proper taxes. He insisted that “every proper tax is paid” when asked if he was keeping any of his earnings offshore. “Everything I have done I have paid full UK tax on, whether that is capital gains tax or income tax,” he told the Commons Treasury Committee ... “But every proper tax is paid – income and capital gains.”.
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Biden warned against repeating Obama's 'fatal political mistakes' with Republicans

Alternet 13 May 2021
... nation's physical and social infrastructure—as long as the spending proposals include even modest tax hikes on the richest Americans and corporations. The American Jobs Plan would increase the corporate tax rate, close offshore tax loopholes, and disincentivize outsourcing jobs.
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Voices From The Readers – May 14, 2021

The Ocean City Dispatch 13 May 2021
Environmental regulations encourage the planting of trees, and the Maryland General Assembly recently passed legislation mandating the planting of five million trees by 2031, which is certainly a more efficient use of our tax dollars than subsidizing offshore wind farms.
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