Territorial tax system

U.S. congressional research papers prepare lawmakers for international tax debate – MNE Tax

By Doug Connolly, Multinational Corporate Taxation The US Congressional Research Service released three reports on August 26-27 on the state of international and corporate tax law and reform in anticipation of upcoming debates on corporate tax rates, international tax provisions and actions related to the ongoing international tax negotiations of …

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How does the Taliban make money?

Taliban militants The Taliban are considered one of the richest insurgent groups in the world, and after two decades of fighting against US and partner forces, the militants now control Afghanistan. So how does the Taliban support each other? How rich are the Taliban? The Taliban ruled Afghanistan from 1996 …

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Companies that do not pay income taxes

Every year we see new headlines on large, seemingly profitable companies that pay no income tax. But as outrageous as the headlines may sound, the truth is almost always far more complicated and far less shocking. As individuals, we don’t pay taxes on every dollar we earn. Tax laws allow …

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International tax proposals and profit shifting

Correction (08/25/2021): Due to a minor error in our multinational tax model, many of the calculations in the original version of this article were incorrect. This error has now been corrected and this analysis has been updated accordingly. Profit shifting by multinationals poses a major challenge in international taxation. The …

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The Space Law Review: Taxation

This article is an excerpt from The Space Law Review – Edition 2. Click here for the complete guide. INTRODUCTION For companies in the space industry, taxation is an important factor in determining where to locate. This chapter examines the basic conceptual framework relating to the direct taxation of space …

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Reminder of inversions – AAF

Summary The US tax code became increasingly less competitive from the late 1980s, leading to a series of expatriations or business reversals, in which businesses reorganized abroad to escape the tax system. American. This phenomenon largely ceased following the enactment of the Tax Cuts and Jobs Act (TCJA) in 2017; …

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Territorial tax systems in Europe, 2021

In a territorial tax system, multinational companies mainly pay taxes to the countries in which they are physically located and earn their income. This means that territorial tax regimes generally do not tax corporate income in foreign countries. On the flip side, a global tax system, such as the system …

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VAT on the sale of services to RBE PEZA

TThe imposition of a 12% value added tax (VAT) on local purchases by PEZA registered businesses continues to generate debate and concern. The Bureau of Internal Revenue (BIR) issued Revenue Regulations (RR) No. 9-2021 stating that certain sales that were previously considered zero-rated for VAT are now subject to 12% …

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Clameur around RR 9-21 | Manila weather

More than a month has passed since the Bureau of Internal Revenue (BIR) issued Revenue Regulations (RR) 9-21 – a three-page document that applies a value-added tax (VAT) of 12 per cent on national purchases of exporters and indirect purchases of exports. The regulation has caused confusion among business enterprises …

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Pushing back the Biden tax cartel

President Joe Biden signs an executive order on “Promoting Competition in the U.S. Economy” at the White House in Washington, DC on July 9, 2021. (Evelyn Hockstein / Reuters) Of Deutsche Welle, yesterday: Ireland is about to abandon its 12.5% ​​corporate tax rates later this year, Irish media reported on …

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EU overbreadth threatens to derail efforts to decarbonize shipping, warns ICS

The International Chamber of Shipping (ICS) issued a statement following the European Commission’s proposal to extend the EU’s Emissions Trading System (ETS) to cover the transport sector international maritime. Guy Platten, ICS General Secretary, commented: “Apart from an ideological revenue-raising exercise, which will greatly upset the EU’s trading partners, it …

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Kharge, Energy News, ET EnergyWorld

MUMBAI: Stating that the issue of inflation and rising fuel prices will dominate the session of parliament from July 19, top Congress leader Mallikarjun Kharge claimed on Monday that the Center has raised Rs 25 lakh crore through fuel tax, but it does not use that fund for the welfare …

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The pandemic opportunity by Muhammad Yunus

With so much “normal” social and economic life put on hold by the coronavirus pandemic, there’s no better time to consider new approaches to development. Until we achieve environmental, social and economic sustainability, we as a species will be in a race against time. DHAKA – The pandemic has thrown …

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Urban Affairs – Unicameral update

Lawmakers established inland port authorities, implemented the provisions of a constitutional amendment related to economic development, updated the annexation law, and created a register for building inspectors. LB156, presented by Omaha Senator Justin Wayne, establishes up to five inland port authorities in Nebraska. An inland port authority can be established …

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G7 countries aim to stifle tax competition

For several decades now, politicians around the world have tried to restrict tax competition to make it easier for them to increase tax burdens on their citizens without them fleeing to other lower tax jurisdictions. The best way to achieve their goal is to create a high-tax global cartel. If …

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FACT SHEET: Biden-Harris Administration Announces Child Tax Credit Awareness Day, Issues Guidelines for Unprecedented Investments in US Rescue Plan to Support Parents and Healthy Child Development

Child Care Development Fund Flexible Funding Funding for the stabilization of childcare services Total TOTAL 14 960 830 000 23,975,000,000 38 935 830 000 STATES Alabama 281 637 028 451 360 337 732 997 365 Alaska 28 288 483 45 336 010 73 624 493 Arizona 372 151 615 596 …

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Distant water fishing is rampant in our oceans

The outcry generated last year, when a flotilla of around 325 Chinese ships were seen fishing just outside the Galapagos Sanctuary, still resonates today. What were so many Chinese ships doing more than 9,500 miles from their reference ports? The nutrient-rich waters around the Ecuadorian archipelago are a great reason …

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The dangers of deforestation for our planet

Forests are an important part of the global ecosystem. Due to factors such as population and agricultural expansion, deforestation and illegal timber trade, the current protection of forests faces a serious situation. Many countries and international organizations actively participate in various projects, discuss and summarize their experiences, strengthen cooperation and …

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