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April 15, 2021

Taxation

Breakingviews – Path out of global tax combat is slowly emerging

Reuters
WhatsApp and Facebook messenger icons are seen on an iPhone in Manchester , Britain March 27, 2017. LONDON (Reuters Breakingviews) – A long slog to make international corporate tax rules fit for the digital age is nearing a breakthrough. Obstacles remain, but a path that gets around them is slowly......

World Bank’s Malpass says slow COVID-19 vaccine rollout in Europe is concerning

Reuters
FILE PHOTO: World Bank President David Malpass responds to a question from a reporter during an opening press conference at the IMF and World Bank’s 2019 Annual Fall Meetings of finance ministers and bank governors, in Washington, U.S., October 17, 2019. REUTERS/Mike Theiler//File Photo WASHINGTON (Reuters) – World Bank President......

‘Millionaires tax’ threat has some NY bankers, managers eyeing exits

Reuters
BOSTON (Reuters) – For decades New York’s bankers and fund managers have accepted the city’s high tax rates as a part of working in the world’s premier financial capital. FILE PHOTO: A woman walks past JPMorgan Chase & Co’s international headquarters on Park Avenue in New York July 13, 2012.......

‘Millionaires tax’ threat has some NY bankers, managers eyeing exits

Reuters
BOSTON (Reuters) – For decades New York’s bankers and fund managers have accepted the city’s high tax rates as a part of working in the world’s premier financial capital. FILE PHOTO: A woman walks past JPMorgan Chase & Co’s international headquarters on Park Avenue in New York July 13, 2012.......

‘Millionaires tax’ threat has some NY bankers, managers eyeing exits

Reuters
BOSTON (Reuters) – For decades New York’s bankers and fund managers have accepted the city’s high tax rates as a part of working in the world’s premier financial capital. FILE PHOTO: A woman walks past JPMorgan Chase & Co’s international headquarters on Park Avenue in New York July 13, 2012.......

Argentina benefiting from higher world food prices – IMF economist

Reuters
WASHINGTON, April 6 (Reuters) – Argentina is benefitting from higher world food prices since that is one of its main exports, although the country’s government is still working to stabilize the economy, Gita Gopinath, the IMF’s chief economist said on Tuesday. The IMF lifted its forecast for growth in Latin......

U.S. Senate parliamentarian says reconciliation can be used to pass legislation

Reuters
FILE PHOTO: U.S. Senate Majority Leader Chuck Schumer (D-NY) touts Senate Democrats legislative accomplishments as he holds a news conference at the U.S. Capitol in Washington, U.S., March 25, 2021. REUTERS/Jonathan Ernst/Pool WASHINGTON (Reuters) – U.S. Senate parliamentarian has issued an opinion that a revised budget resolution may contain budget......

Indonesia expands tax breaks for sales of bigger cars

Reuters
JAKARTA, April 2 (Reuters) – Indonesia has expanded its tax breaks on car sales to include more types of vehicles, the country’s finance ministry said, in a bid to accelerate economic recovery and aid its manufacturing industry. “The government sees that stimulus for the middle class has big potential to......

Biden singles out Amazon for not paying federal taxes

Reuters
FILE PHOTO: The logo of Amazon is pictured inside the company’s office in Bengaluru, India, April 20, 2018. REUTERS/Abhishek N. Chinnappa WASHINGTON (Reuters) – President Joe Biden on Wednesday singled out Amazon.com Inc for not paying federal taxes during his address in Pittsburgh, Pennsylvania, as he spoke about raising the......

Brazil’s February federal tax revenue rises to record $23 billion

Reuters
BRASILIA (Reuters) – Brazil’s federal tax revenue rose in February to its highest on record for that month, the revenue service said on Monday, boosted by strong growth in corporate taxes and firms’ social contributions on net profits. The tax take last month totaled 127.75 billion reais ($23.1 bln), up......

Yellen underscores importance of financial regulation cooperation in call with EU official

Reuters
FILE PHOTO: U.S. Treasury Secretary Janet Yellen, the former Federal Reserve chair, holds a news conference after a two-day Federal Open Market Committee (FOMC) meeting in Washington, U.S. December 13, 2017. REUTERS/Jonathan Ernst WASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen discussed the importance of close transatlantic financial regulatory cooperation......

Germany extends tax deferral for pandemic-hit firms by three months

Reuters
FILE PHOTO: German Finance Minister Olaf Scholz reacts during a news conference in Berlin, Germany, February 23, 2021. REUTERS/Hannibal Hanschke BERLIN (Reuters) – Germany will extend a tax deferral scheme designed to help firms hit by the impact of the COVID-19 pandemic by a further three months, Finance Minister Olaf......

Germany’s Scholz: Europe’s fiscal rules are flexible enough

Reuters
FILE PHOTO: German Finance Minister Olaf Scholz reacts during a news conference in Berlin, Germany, February 23, 2021. REUTERS/Hannibal Hanschke/Pool BERLIN (Reuters) – The COVID-19 pandemic has shown that the European Union’s budget rules are flexible enough to allow massive fiscal spending, and that will remain the case in any......

Exclusive: Mexico to evaluate need for tax reform after midterm elections

Reuters
FILE PHOTO: Mexico’s Finance Minister Arturo Herrera gestures as he speaks during an interview with Reuters, at the National Palace in Mexico City, Mexico December 30, 2020. REUTERS/Gustavo Graf Maldonado MEXICO CITY (Reuters) – Mexico will this year evaluate the need for a tax reform, Finance Minister Arturo Herrera told......

Biden to sign signature COVID relief bill on Friday

Reuters
FILE PHOTO: U.S. President Joe Biden makes remarks from the White House after his coronavirus pandemic relief legislation passed in the Senate, in Washington, U.S. March 6, 2021. REUTERS/Erin Scott WASHINGTON (Reuters) – U.S. President Joe Biden plans to sign his signature $1.9 trillion coronavirus relief package on Friday, White......

Yellen says Treasury to get aid to cities, states in ‘quickest way possible’

Reuters
FILE PHOTO: U.S. Treasury Secretary Janet Yellen, the former Federal Reserve chair, holds a news conference after a two-day Federal Open Market Committee (FOMC) meeting in Washington, U.S. December 13, 2017. REUTERS/Jonathan Ernst WASHINGTON (Reuters) – The U.S. Treasury will work to quickly distribute $350 billion in aid to state......

European Parliament to seek carbon border levy by 2023

Reuters
FILE PHOTO: European Union flags flutter outside the EU Commission headquarters in Brussels, Belgium, in this file picture taken October 28, 2015. REUTERS/Francois Lenoir BRUSSELS (Reuters) – The European Union should impose carbon border costs on imports of certain industrial products by 2023, the European Parliament said on Tuesday. By......

Jordan’s PM reshuffles cabinet to accelerate reforms

Reuters
FILE PHOTO: Jordan’s Foreign Minister Bisher al-Khasawneh poses as he arrives for the Mideast peace conference in Paris, France, January 15, 2017. REUTERS/Bertrand Guay/POOL AMMAN (Reuters) – Prime Minister Bisher al-Khasawneh reshuffled his cabinet on Sunday in a move meant to accelerate IMF-guided reforms seen as crucial to Jordan’s economic......

U.S. Senate to begin debating COVID-19 bill this week -Schumer

Reuters
FILE PHOTO: U.S. Senate Majority Leader Chuck Schumer (D-NY) speaks to reporters in The Senate Reception Room during the second day of Trump’s second impeachment trial in Washington, U.S., February 10, 2021. Brandon Bell/Pool via REUTERS WASHINGTON (Reuters) – The U.S. Senate will begin debating President Joe Biden’s $1.9 trillion......

UK’s Sunak to provide 5 billion pounds of grants to pandemic hit businesses in budget

Reuters
LONDON (Reuters) – British finance minister Rishi Sunak will announce 5 billion pounds ($7 billion) of additional grants to help businesses hit hard by pandemic lockdowns in his budget statement next week, the government said on Saturday. Shops, bars, clubs, hotels, restaurants, gyms and hair salons would be among nearly......

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