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Supreme Court upholds US tax on foreign business income

Accounting Today

Supreme Court upheld a 2017 tax on American-owned businesses' foreign profits, rejecting an appeal that could have saved companies hundreds of billions of dollars.

Tax 226
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Supreme Court suggests support for 2017 tax on foreign earnings

Accounting Today

Key justices suggested the tax, which aimed to collect hundreds of billions of dollars on a one-time basis, wasn't fundamentally different from other levies imposed by Congress over the years.

Tax 183
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NYC seeks millions from Silicon Valley Bank for taxes

Accounting Today

The city cites corporation business tax "deficiencies" for 2017 through 2021 and is also seeking interest and penalties from the failed bank.

Tax 183
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Airbnb to pay €576M to settle Italian tax claim

Accounting Today

Italy's finance police had claimed that the company failed to pay taxes on about €3.7 billion of rental revenue and claimed that the company owed about €779 million after an audit of the tax years from 2017 to 2021.

Tax 177
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Navigating the Foreign Account Tax Compliance Act (FATCA) in Singapore

Counto

Navigating the Foreign Account Tax Compliance Act (FATCA) in Singapore As a small business owner or entrepreneur, understanding global financial regulations like the Foreign Account Tax Compliance Act (FATCA) is crucial. government to combat tax evasion by U.S. persons to the Inland Revenue Authority of Singapore (IRAS).

Tax 52
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Everything you need to know about raising carbon tax in Alberta and BC

Acton Accounting & Bookkeeping

Previous Prime Minister Stephen Harper claims that a carbon tax would ‘destroy jobs and growth.’ By revising the carbon tax, the government is encouraging individuals to reduce consumption of harmful fuels and increase energy efficiency. Bill 20 has introduced a $20 per tonne carbon levy commencing January 1st, 2017.

Tax 52
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Trump eyes keeping 21% corporate tax, extending individual cuts

Accounting Today

Donald Trump plans to make permanent the 2017 individual tax cuts that he enacted as president while keeping corporate tax levels unchanged in an appeal to working and middle class voters should he retake the White House.