The Treasury department plans to crack down on American companies that reincorporate overseas as a way to avoid paying taxes. Treasury Secretary Jacob Lew announced Monday that new rules will help close the "glaring loophole in the U.S. Show More Summary
Both the current Coalition and previous Labor Governments have long been looking to close tax loopholes that have seen big multi-nationals able to shift profit offshore in order to allegedly avoid paying tax in the Australian market. After a concerted effort by both sides of politics, those loopholes are slowly being closed according to Treasurer Joe Hockey. More »
Wall Street Journal, In Germany, Many Believers Balk at Tweak to Church Tax; As Loophole Closes, Disgruntled German Catholics and Protestants Opt to Officially Leave Churches: I n Germany, being an official church member usually means paying an extra tax. But a change in the country's tax code is now...
It's enough to make you love the law. With very little fanfare, Obamacare just raised $72 million from health insurance companies. To be more precise, it raised that money from health insurance company CEOs by closing a tax loophole. For...Show More Summary
Los Angeles Times: Close Loopholes That Let U.S. Firms Avoid Taxes by Using Inversions, by Michael Hiltzik: It's both endearing and infuriating to watch American corporate executives wring their hands about how the injustices of the U.S. tax code are forcing them — forcing them! — to reincorporate overseas through...
It's both endearing and infuriating to watch American corporate executives wring their hands about how the injustices of the U.S. tax code are forcing them — forcing them! — to reincorporate overseas through the procedure known as inversion.
Some 1,500 Oregonians have signed a petition asking Oregon lawmakers to close a tax loophole used by some corporations to get around the state’s corporate minimum tax, allowing them to pay nothing in income taxes. The tax loophole is...Show More Summary
The president devoted today's regular address to closing corporate tax loopholes, especially loopholes that allow American companies to evade taxes by "renouncing their citizenship." Even as corporate profits are as high as ever, a small but growing group of big corporations are fleeing the country to get out of paying taxes. Show More Summary
Another Saturday, more populism attacks. Interestingly, he does suggest a Good Idea amongst his populist rhetoric Weekly Address: Closing Corporate Tax Loopholes In this week’s address, the President continued his call for our nation...Show More Summary
After blocking debate on a bill to close tax loopholes for companies that move overseas in 2012, Senate Republicans reversed course Wednesday. The post Senate Republicans Advance Key Part Of Obama’s Budget, Two Years Later appeared first on ThinkProgress.
Transportation Secretary Anthony Foxx and President Obama America's infrastructure—its bridges, roads, tunnels, sewer systems—is in dire need of repair and replacement. Tuesday afternoon, President Obama sounded the warning yet again,...Show More Summary
The European Union is closing a loophole that allows companies to shift their profits between different country divisions to avoid taxation. ||| Brussels - The European Union is closing a loophole that allows companies to shift their profits between different country divisions to avoid taxation. Show More Summary
It seems all of the sound and fury—and then nothing—surrounding whether to close the carried-interest loophole/raise taxes on hedge and private-equity fund managers may have been (it wasn’t), but was certainly unnecessary. Maybe. President Obama could change the tax treatment of carried interest with a phone call to the Treasury Department…. Show More Summary
As MSNBC's Ed Schultz and economist and writer David Cay Johnston discussed in the clip above, our tax system does need an overhaul, but not the kind that Republicans have been clamoring for. And of course this is DOA in the House: Democrats...Show More Summary
U.S. drug giant Pfizer's recent effort to merge with much smaller United Kingdom-based AstraZeneca, and then convert itself into a "U.K. company" and avoid U.S. corporate taxes -- even though its U.S. shareholders would continue to own...Show More Summary
From Melanie Mason at the LA Times: Howard Jarvis group won't oppose bill to close Prop. 13 loophole The legislation would eliminate the ability of businesses to elude higher property taxes by carving up ownership in commercial property purchases so no one has a majority stake. Show More Summary
WHEN HIGH TAXES CHASE COMPANIES AWAY: Close “loopholes” that allow them to move. That will totally work. Just ask any Worker’s paradise, from Zimbabwe to Venezuela.
The Australian Tax Office’s new luxury car tax laws (LCT) are now in force, following its successful bid to close a loophole in the controversial laws. Previously, dealers were able to lighten the load on customers with factory-backed...Show More Summary
Lamenting the fact that Walgreens is considering moving its headquarters to Europe, Dan Smith (“Close Corporate Tax Loopholes” April 20, 2014) makes the claim that corporate profits earned and kept overseas are “not being taxed.” Mr....Show More Summary
This is a change for the better that reverses a bit of tax code that never made sense to me. There is a loophole that taxes what you or I would look at as income to partners of an investment firm, and tax it at a capital gain rate. As the budget proposal states “Although […]