Taxation http://www.globalpost.com/taxonomy/term/24169/all en ANALYSIS-'Fiscal cliff' deal sours U.S. tax reform outlook http://www.globalpost.com/dispatch/news/thomson-reuters/130108/analysis-fiscal-cliff-deal-sours-us-tax-reform-outlook <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p><body></body></p> <p>* Hopes dim for 'grand bargain' on taxes, spending</p> <p>* Democrats want more revenue from tax code revamp</p> <p>* Republicans say "cliff" deal means tax debate over</p> <p>* Gridlock may mean corporate tax reform hopes dashed</p> <p>By Kim Dixon and Kevin Drawbaugh</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130108/analysis-fiscal-cliff-deal-sours-us-tax-reform-outlook" target="_blank">read more</a></p> Bush tax cuts Business Candidate Position Capital gains tax Citizens for Tax Justice Economic policy Entertainment Environment Flat tax Health Income tax Income tax in Australia Income tax in the United States Labor Person Career Person Location Person Party Political economy Politics Public economics Quotation Social Issues Tax Taxation Thomson Reuters Tue, 08 Jan 2013 14:03:46 +0000 Thomson Reuters 5731558 at http://www.globalpost.com U.S. states flirt with major tax changes http://www.globalpost.com/dispatch/news/thomson-reuters/130113/us-states-flirt-major-tax-changes <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>* Single-party rule in 37 states paves way for big changes</p> <p>* Some states weigh higher sales tax, eliminating income tax</p> <p>* Critics say shift would unfairly burden poor, middle class</p> <p>By Nanette Byrnes</p> <p>CHAPEL HILL, N.C., Jan 13 (Reuters) - Hopes for overhauling the federal tax system are fading in Washington, but in some state capitals, tax reform experiments - some far-reaching - are fast taking shape.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130113/us-states-flirt-major-tax-changes" target="_blank">read more</a></p> Political economy Public economics Social Issues Taxation Thomson Reuters Sun, 13 Jan 2013 12:30:50 +0000 Thomson Reuters 5733763 at http://www.globalpost.com Euro zone splinter group seen near deal on transaction tax http://www.globalpost.com/dispatch/news/thomson-reuters/130118/euro-zone-splinter-group-seen-near-deal-transaction-tax <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>* EU's tax commissioner says close to deal on trading tax</p> <p>* Group of 11 euro zone countries set to pioneer levy</p> <p>* EU approval will allow group to finalise details</p> <p>By John O'Donnell</p> <p>BRUSSELS, Jan 18 (Reuters) - A group of euro zone countries, led by Germany and France, looks set for a green light next week to push ahead with a tax on financial transactions, a step politicians hope will please voters but which critics have warned could backfire.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130118/euro-zone-splinter-group-seen-near-deal-transaction-tax" target="_blank">read more</a></p> Business International taxation Public economics Taxation Thomson Reuters Fri, 18 Jan 2013 18:15:24 +0000 Thomson Reuters 5736282 at http://www.globalpost.com UK lawmakers to quiz big accountants on tax avoidance http://www.globalpost.com/dispatch/news/thomson-reuters/130121/uk-lawmakers-quiz-big-accountants-tax-avoidance <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>By Tom Bergin</p> <p>LONDON, Jan 21 (Reuters) - British parliamentarians plan to quiz representatives of the biggest accounting firms over their role in helping big commpanies minimise their tax bills, as lawmakers across Europe consider steps to clamp down on tax avoidance.</p> <p>A spokesman for the Public Accounts Committee said it would hold a hearing on Jan. 31, at which senior tax specialists from PricewaterhouseCoopers (PwC), Ernst and Young, KPMG, and Deloitte would testify.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130121/uk-lawmakers-quiz-big-accountants-tax-avoidance" target="_blank">read more</a></p> Accountancy Business Taxation Thomson Reuters Mon, 21 Jan 2013 16:45:03 +0000 Thomson Reuters 5737330 at http://www.globalpost.com Britain's biggest companies see tax bill drop 18 pct in 2012 http://www.globalpost.com/dispatch/news/thomson-reuters/130121/britains-biggest-companies-see-tax-bill-drop-18-pct-2012 <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>By Tom Bergin</p> <p>LONDON, Jan 22 (Reuters) - The corporation tax bill for Britain's biggest companies tumbled by 18 percent last year, despite a rise in profits, PricewaterhouseCoopers (PwC) said on Tuesday.</p> <p>The accountancy firm's annual report on tax payments by the Hundred Group, which represents about 100 of the biggest UK-listed and headquartered companies, comes amid intense public anger about tax avoidance.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130121/britains-biggest-companies-see-tax-bill-drop-18-pct-2012" target="_blank">read more</a></p> Finance Politics Public economics Taxation Thomson Reuters Tue, 22 Jan 2013 00:30:14 +0000 Thomson Reuters 5737513 at http://www.globalpost.com UPDATE 3-EU states get blessing for financial trading tax http://www.globalpost.com/dispatch/news/thomson-reuters/130122/update-1-eu-states-get-blessing-financial-trading-tax <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>* Finance ministers allow 11 countries to pursue tax plan</p> <p>* EU's Semeta says levy could be imposed from January 2014</p> <p>* Britain, Luxembourg, Czech Republic and Malta object</p> <p>* Some see tax raising up to 35 billion euros annually</p> <p>By John O'Donnell and Robin Emmott</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130122/update-1-eu-states-get-blessing-financial-trading-tax" target="_blank">read more</a></p> Economics European Union International taxation Public economics Taxation Thomson Reuters Tue, 22 Jan 2013 10:45:26 +0000 Thomson Reuters 5737656 at http://www.globalpost.com Large banks seen dodging EU financial tax bullet http://www.globalpost.com/dispatch/news/thomson-reuters/130123/large-banks-seen-dodging-eu-financial-tax-bullet <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>* Only 11 euro zone countries to impose planned tax</p> <p>* UK, Swiss financial centres will be outside the scheme</p> <p>* Vital details of tax remain to be settled</p> <p>* Sweden dismantled transaction taxes which backfired</p> <p>By Steve Slater</p> <p>LONDON, Jan 23 (Reuters) - A financial trading tax (FTT) planned by a group of euro zone nations could leave major banks, its main target, relatively unscathed while less nimble smaller trading houses, pension funds and asset managers bear the brunt.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130123/large-banks-seen-dodging-eu-financial-tax-bullet" target="_blank">read more</a></p> Finance International taxation Taxation Thomson Reuters Wed, 23 Jan 2013 19:15:36 +0000 Thomson Reuters 5738449 at http://www.globalpost.com RPT-Large banks seen dodging EU financial tax bullet http://www.globalpost.com/dispatch/news/thomson-reuters/130124/rpt-large-banks-seen-dodging-eu-financial-tax-bullet <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>* Only 11 euro zone countries to impose planned tax</p> <p>* UK, Swiss financial centres will be outside the scheme</p> <p>* Vital details of tax remain to be settled</p> <p>* Sweden dismantled transaction taxes which backfired</p> <p>By Steve Slater</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130124/rpt-large-banks-seen-dodging-eu-financial-tax-bullet" target="_blank">read more</a></p> Finance International taxation Taxation Thomson Reuters Thu, 24 Jan 2013 09:15:04 +0000 Thomson Reuters 5738707 at http://www.globalpost.com UPDATE 3-British PM takes aim at corporate tax avoiders http://www.globalpost.com/dispatch/news/thomson-reuters/130124/update-1-british-pm-warns-companies-pay-fair-taxes <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>By Kate Holton</p> <p>Jan 24 (Reuters) - Prime Minister David Cameron on Thursday criticised multinational corporations that avoid paying their fair share of tax, promising action against such aggressive strategies after a public backlash in Britain.</p> <p>The issue of tax avoidance by big business has turned toxic in recent years as millions of Britons struggle with low pay rises and austerity measures introduced to reduce the budget deficit.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130124/update-1-british-pm-warns-companies-pay-fair-taxes" target="_blank">read more</a></p> Business David Cameron Finance Hospitality International taxation Law Politics Public economics Taxation Thomson Reuters Thu, 24 Jan 2013 10:30:16 +0000 Thomson Reuters 5738733 at http://www.globalpost.com UPDATE 2-India debates raising taxes on the rich ahead of budget http://www.globalpost.com/dispatch/news/thomson-reuters/130124/update-2-india-debates-raising-taxes-the-rich-ahead-budget <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>(Updates throughout with quotes, data, background)</p> <p>By Ross Colvin and Sumeet Chatterjee</p> <p>NEW DELHI/MUMBAI, Jan 24 (Reuters) - India should consider the argument for higher taxes on the "very rich", Finance Minister P. Chidambaram said in comments likely to fuel speculation about steps he may take in next month's budget to boost tax flows and narrow a yawning fiscal gap.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130124/update-2-india-debates-raising-taxes-the-rich-ahead-budget" target="_blank">read more</a></p> Business Entertainment Public economics Taxation Taxation in the United States Thomson Reuters Thu, 24 Jan 2013 13:15:17 +0000 Thomson Reuters 5738782 at http://www.globalpost.com UPDATE 1-Obama: more tax revenue needed to address U.S. deficit -CBS http://www.globalpost.com/dispatch/news/thomson-reuters/130203/update-1-obama-more-tax-revenue-needed-address-us-deficit-cbs <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>* Obama knocks "carried interest" tax break</p> <p>* Says without Washington dysfunction, could have strong 2013 growth</p> <p>* Says issue right now is not raising rates</p> <p>By Jeff Mason</p> <p>WASHINGTON, Feb 3 (Reuters) - President Barack Obama said on Sunday more tax revenue would be needed to reduce the U.S. deficit and signaled he would push hard to get rid of loopholes such as the "carried interest" tax break enjoyed by private equity and hedge fund managers.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130203/update-1-obama-more-tax-revenue-needed-address-us-deficit-cbs" target="_blank">read more</a></p> Barack Obama Business Finance Health Labor Public economics Social Issues Taxation Thomson Reuters Mon, 04 Feb 2013 01:15:38 +0000 Thomson Reuters 5744908 at http://www.globalpost.com UPDATE 2-Shell India to challenge tax claim on share funding http://www.globalpost.com/dispatch/news/thomson-reuters/130204/update-1-shell-india-to-challenge-order-by-tax-authorities <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>* Says tax claim based on "incorrect interpretation" of rules</p> <p>* Tax official says "difference of opinion" on share valuation</p> <p>* Case comes as India steps up enforcement of tax collection</p> <p>By Prashant Mehra and Sumeet Chatterjee</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130204/update-1-shell-india-to-challenge-order-by-tax-authorities" target="_blank">read more</a></p> Business Finance Hospitality Income tax Law Politics Public economics Taxation Thomson Reuters Mon, 04 Feb 2013 13:30:26 +0000 Thomson Reuters 5745337 at http://www.globalpost.com UPDATE 1-Carried interest thrust again into U.S. tax debate http://www.globalpost.com/dispatch/news/thomson-reuters/130205/update-1-carried-interest-thrust-again-us-tax-debate <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>(Adds comments from Senator Casey)</p> <p>By Kim Dixon</p> <p>WASHINGTON, Feb 5 (Reuters) - A big tax break that benefits U.S. private equity and venture capital executives is under threat again, and this time the chances of preserving it may have dimmed.</p> <p>President Barack Obama said at a news conference on Tuesday that he will pursue a short list of tax loophole closures to try and avert looming budget cuts. Obma's press secretary singled out the tax break known as "carried interest."</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130205/update-1-carried-interest-thrust-again-us-tax-debate" target="_blank">read more</a></p> Business Entertainment Environment Financial economics Health Human Interest Investment Politics Taxation Thomson Reuters Tue, 05 Feb 2013 22:45:11 +0000 Thomson Reuters 5746972 at http://www.globalpost.com AB Foods denies avoiding tax in Zambia http://www.globalpost.com/dispatch/news/thomson-reuters/130210/ab-foods-denies-avoiding-tax-zambia <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>LONDON, Feb 10 (Reuters) - Associated British Foods denied any "illegal or immoral" activities aimed at avoiding tax after an international charity said the British firm had moved profits out of Zambia to reduce its tax bill.</p> <p>ActionAid said Zambia Sugar, a unit of FTSE 100 company AB Foods, had made profits of $123 million since 2007 but had paid "virtually no corporate tax" in Zambia.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130210/ab-foods-denies-avoiding-tax-zambia" target="_blank">read more</a></p> Business Finance Taxation Technology Thomson Reuters Sun, 10 Feb 2013 17:15:52 +0000 Thomson Reuters 5751903 at http://www.globalpost.com Nokia slams India tax raid as 'excessive' http://www.globalpost.com/dispatch/news/afp/130212/nokia-slams-india-tax-raid-excessive <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>Finnish phone giant Nokia said Tuesday it had protested to the Indian government over a tax raid at one of its factories in South India, slamming the action as "excessive and unacceptable".</p> <p>Officials last month raided one of Nokia's manufacturing units in the southern city of Chennai as part of an investigation into tax department suspicions that it may have evaded taxes totalling 30 billion rupees ($545 million).</p> <p>Nokia, which strongly denies evading any taxes, said it had sent a "letter of objection" to Indian tax authorities.</p> <p><a href="http://www.globalpost.com/dispatch/news/afp/130212/nokia-slams-india-tax-raid-excessive" target="_blank">read more</a></p> Finance Nokia Taxation AFP Tue, 12 Feb 2013 16:45:53 +0000 Agence France-Presse 5753678 at http://www.globalpost.com