Trump looking at possible tax cuts amid economic jitters

WASHINGTON (Reuters) – President Donald Trump said on Tuesday his administration was considering potential tax cuts on wages as well as profits from asset sales, and sought to play down market anxieties that the world’s top economy could be heading for a recession. Speaking to reporters during a White House visit by Romanian President Klaus Iohannis, Trump said “we’re looking […]

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U.S. tech industry leaders: French digital service tax harms global tax reform

WASHINGTON (Reuters) – Major tech firms and U.S. tech industry groups said on Monday that France’s new digital services tax undermines the global tax regime and multilateral efforts to reform it. Alphabet Inc’s (GOOGL.O) Google, Facebook Inc (FB.O) and Amazon.com Inc (AMZN.O) and major trade associations testified Monday against the tax at a hearing before the U.S. Trade Representative’s office […]

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Digital Tax on Google, Amazon, Facebook, others will gut consumers and small businesses

Google, Amazon and Facebook raise concerns over France’s digital tax FBN’s Hillary Vaughn on big tech companies’ concerns over the impact from France’s new digital tax. Google, Facebook, and Amazon and several other major tech companies argued the digital services tax by France will hurt small business and consumers during a U.S. hearing Monday. Continue Reading Below U.S. Trade Representative Robert Lighthizer described the […]

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Group sues to block California law aimed at forcing Trump to release tax returns

SACRAMENTO, Calif. (Reuters) – A conservative legal group has filed a lawsuit seeking to block a new California law aimed at forcing Republican U.S. President Donald Trump to release his tax returns, the latest volley over Democrats’ efforts to see the former businessman’s financial records. The lawsuit, filed in federal court in Sacramento on Aug. 1 by the group Judicial […]

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Sports Direct faces £605m tax bill and ‘terminal’ problems at House of Fraser

Sports Direct says it is facing a €674m (£605m) tax demand from Belgian authorities – as boss Mike Ashley warned that problems at House of Fraser were “terminal”. Mr Ashley disclosed the latest problems facing his sprawling retail empire as it published a much-delayed set of full-year results. The results showed a 5% rise in underlying profits for Sports Direct […]

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‘It’s like a sport’: Tax agents face hot water over clients’ claiming

Tax professionals say they face continued pressure from clients to put in dodgy expenses while the Australian Taxation Office says it will take strong action against tax professionals who exhibit unprofessional conduct at tax time. The ATO secured additional money in this year's budget specifically aimed at agent-prepared returns. Tax agents say clients still pressure them to over-claim even though […]

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Confidential draft IRS tax memo says tax returns must be handed to Congress unless president uses executive privilege: report

Do Americans really care about President Trump’s tax returns? The fight continues over President Trump’s tax returns with Democrats demanding copies which the president says he can’t provide because he’s under audit. Just days after Treasury Secretary Steven Mnuchin said he would not comply with a House Democratic subpoena for President Trump’s tax returns, a confidential draft IRS memo obtained […]

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Swiss voters approve tax overhaul – TV projections

ZURICH, May 19 (Reuters) – Swiss voters easily approved on Sunday a shake-up of the country’s corporate tax system, heading off what its finance minister had called an existential threat to Switzerland’s role as a business hub, projections for Swiss broadcaster SRF showed. The projections from the gfs.bern polling outfit saw the measure passing in the binding referendum by a […]

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A California bill aims to keep Trump off the 2020 primary ballot unless he releases at least 5 years of his tax returns

The California Legislature is trying again to force presidential candidates to publicly disclose their tax returns. The state Senate voted 27-10 to require anyone appearing on the state’s presidential primary ballot to publicly release five years’ worth of income tax returns. The proposal is in response to Trump, who bucked 40 years of tradition by refusing to release his tax […]

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