Record corporate tax haul drives down Irish budget deficit
Ireland ran a lower-than-expected 2021 budget deficit of around 4% of the economy. This is due to a surge in tax receipts, which includes another record contribution from the corporate sector. The ministry had forecast in October that it would finish the year with a deficit of 5.9% of modified gross national income. The most […]
Italy’s Fiat need not pay $30 MLN in back taxes
An adviser to Europe’s top court stated that Italian carmaker Fiat Chrysler need not pay 30 million euros ($33.95 million) in back taxes to Luxembourg. The Fiat case was part of European Competition Commissioner Margrethe Vestager’s crackdown on deals between European Union countries and multinationals. In this, the highest profile of which were Apple’s Irish […]
German tax takes surges, ministry optimistic growth
The German Finance Ministry said that the tax take has risen dramatically this year. adding that there were signs that strong growth would resume next year, when inflationary pressures would also moderate. Tax income rose 23.1% to 78.2 billion euros. This is good rate when compared to the pandemic’s devastating impact on Europe’s largest economy, over the […]
US drops tariff threat in digital tax transition deal
The United States withdrew its threat of tariffs against five European countries over their digital services taxes. This is as a part of a deal to manage the transition to a new global tax regime for large highly profitable corporations. Austria, Britain, France, Italy, Spain will get to keep their digital taxes in place until […]
US sets and suspends tariffs on six countries over digital taxes
The United States has announced 25% tariffs on over $2 billion worth of imports from six countries over their digital services taxes. But they immediately suspended the duties to allow time for international tax negotiations to continue. The U.S. Trade Representative’s office said that it had approved the threatened tariffs on goods from Britain, Italy, […]
What to pay and not to pay taxes for?
With the increase in the pandemic alerts and restrictions there are various things prevailing in the economy and affecting it drastically. The consequences have shook the economy and raised alarms and concerns about the finances and health and most of all the job security has also increased. Business owners and the entrepreneurs are highly responsible […]
The world of finance to take a reshape
2020 was a formative year for the planet of finance. Before the impact of the coronavirus, it had been relatively standard practice for one provider to be called as fintech firm or an institution or a traditional bank. This explanation between the two has progressively eroded over the past 12 months, as every particular financial […]