LONDON (Reuters) – British finance minister Rishi Sunak will try to restart the country’s economy by giving homebuyers a tax break and cutting value-added tax for pubs, restaurants and other hospitality firms, The Times newspaper reported. Sunak is due to anno... More »
WASHINGTON (Reuters) – As Democratic presidential hopefuls descended on New Hampshire prior to the state’s Feb. 11 primary, John Tackeff was busy. The 27-year-old attended candidate events across the state to raise concerns about a proposed tax on Wall Street ... More »
RIYADH (Reuters) – Failure to reach a global deal on where and how much to tax digital giants such as Google (GOOGL.O), Amazon (AMZN.O) or Facebook (FB.O) would result in many digital tax regimes emerging all over the world, France’s Finance Minister said on S... More »
RIYADH (Reuters) – Japanese finance minister Taro Aso criticized on Sunday a U.S. tax reform proposal that he said could undermine global efforts to agree new rules on taxing big tech companies. The Organisation for Economic Cooperation and Development(OECD) i... More »
RIYADH (Reuters) – Leading world economies must show unity in dealing with aggressive “tax optimization” by global digital giants like Google (GOOGL.O), Amazon (AMZN.O) and Facebook (FB.O), G20 officials said on Saturday. The Organisation for Economic Cooperat... More »
NEW DELHI (Reuters) – Amazon and Walmart’s Flipkart are among online retailers demanding that India scale back a proposed tax on third-party sellers on their platforms, saying the burden of compliance will hurt the fledgling industry, according to documents se... More »
JAKARTA (Reuters) – Indonesia’s parliament will soon begin debating a sweeping new bill that proposes corporate tax cuts and seeks to make internet giants pay more taxes, as part of a wider plan to simplify laws and boost investments in Southeast Asia’s bigges... More »
BEIJING (Reuters) – China will exempt Tesla Inc’s (TSLA.O) electric vehicles from its purchase tax, the Ministry of Industry and Information Technology (MIIT) said on Friday, a concession made amidst trade tensions with the United States. Tesla sees China as o... More »
BIARRITZ, France (Reuters) – France and the United States reached a deal to end a standoff over a French tax on big internet companies, though U.S. President Donald Trump declined to say whether his threat of a retaliatory wine tax was off the table as a resul... More »
BIARITTZ, France (Reuters) – France and the United States have reached a deal to end a standoff over a French tax on big internet companies, French President Emmanuel Macron said on Monday. U.S. President Donald Trump had threatened to hit back with tariff act... More »
PARIS (Reuters) – France’s Emmanuel Macron discussed the need for an international agreement on taxing digital service companies with U.S. President Donald Trump in a call on Friday, the French president’s office said. The exchange – which partly centered on I... More »
NEW DELHI/MUMBAI (Reuters) – The Indian government’s budget proposal earlier this month to increase taxes on those with annual incomes of more than 20 million rupees ($292,269) has rattled many foreign portfolio investors(FPIs). The realization that the new ta... More »
PARIS (Reuters) – A three percent tax on the French revenue of large internet companies could yield 500 million euros (568.5 million pounds) per year, French Finance Minister Bruno Le Maire said on Sunday. Le Maire told Le Parisien newspaper the tax is aimed a... More »
(Reuters Health) – People in Berkeley, California, dramatically cut their soda consumption after the city implemented a “soda tax,” a new study suggests. Three years after Berkeley passed its soda tax in November 2014, residents reported drinking half as many ... More »
JAKARTA (Reuters) – Indonesia is bringing in new rules requiring e-commerce sellers to share data with authorities, while also stressing that they must pay taxes, the finance ministry said on Monday. Surging smartphone use and a rising middle-class income in I... More »
BEIJING/SHANGHAI (Reuters) – China will launch a tax evasion investigation into the country’s film and television industry, the tax bureau said in a statement posted on its official website on Sunday. Some of the country’s most famous actors have been accused ... More »
DUBAI (Reuters) – Kuwait will not implement value-added tax before 2021 but will push ahead with introducing excise tax, parliament’s budget committee said in a statement posted on the assembly’s website on Tuesday. “The committee said implementation of value-... More »
MUMBAI/NEW DELHI (Reuters) – India is exploring new duties on the import of a key smartphone component, according to two government sources, the latest in a series of moves aimed at boosting domestic manufacturing in the world’s second-biggest smartphone marke... More »
BEIJING (Reuters) – China has no intention of joining the international tax cut race, head of the government’s state council research office said on Monday, even as Beijing rolled out fresh tax cuts worth more than 800 billion yuan (91.6 billion pounds) for 20... More »
FILE PHOTO: The Amazon logo is seen at the Young Entrepreneurs fair in Paris, France, February 7, 2018. REUTERS/Charles Platiau PARIS (Reuters) – The European Union this month will unveil plans to tax large global tech companies’ revenue at a rate in the 2-to-... More »
The U.S. Treasury said on Thursday it will close an unintended loophole created by the Republican tax overhaul that let some Wall Street financial managers dodge new limits on "carried interest" by operating as businesses known as S-corporations. More »
House Speaker Paul Ryan (R-WI) speaks at a news conference with Republican leaders on Capitol Hill in Washington, U.S., January 18, 2018. REUTERS/Yuri Gripas WASHINGTON (Reuters) – U.S. House Speaker Paul Ryan deleted a tweet on Saturday cheering a $1.50 incre... More »
FILE PHOTO: South Korean Finance Minister Kim Dong-yeon speaks during his inaugural ceremony in Sejong government complex in Sejong, South Korea, June 15, 2017. REUTERS/Kim Hong-Ji SEOUL (Reuters) – South Korea’s finance minister said on Monday that the govern... More »
A woman shops at a Macy’s department store in Roosevelt Field shopping mall in Garden City, New York, U.S., November 24, 2017. REUTERS/Shannon Stapleton NEW YORK (Reuters) – U.S. fund managers are betting that rising wages and the effects of the Republican-led... More »
A generic picture of a some office folders or binders. OFFPO REUTERS/Catherine Benson NEW YORK (Reuters) – Got a dusty old binder with your will and estate plan? Even if you had your paperwork set up a few years ago, all of your documents are now out of date, ... More »
FILE PHOTO – A pedestrian walks past the headquarters of Her Majesty’s Revenue and Customs (HMRC) in central London February 13, 2015. British lawmakers plan to call up the bosses of HSBC and the tax authority, HMRC, to quiz them over allegations some clients ... More »
French Finance Minister Bruno Le Maire leaves the Elysee Palace after the first weekly cabinet meeting of the year and a government seminar in Paris, France, January 3, 2018. REUTERS/Benoit Tessier PARIS (Reuters) – Emmanuel Macron’s finance minister said on F... More »
FILE PHOTO – A Lenovo logo is seen on a computer in Kiev, Ukraine April 21, 2016. REUTERS/Gleb Garanich/File Photo HONG KONG (Reuters) – Lenovo Group Ltd said on Wednesday it expected to make a one-off charge of $400 million for nine months ended in December d... More »
FILE PHOTO: An early wheat crop in the Central Valley in Davis, California, U.S., May 1, 2017. REUTERS/Hyungwon Kang – File Photo CHICAGO (Reuters) – The new U.S. tax law is poised to drive more control over the nation’s grain supply to farmer-owned cooperativ... More »
FILE PHOTO: Goose Island beer taps are seen amongst other craft beers at a bar in New York January 21, 2015. REUTERS/Brendan McDermid/File Photo (Reuters) – Makers of craft beer, artisanal spirits, hard cider and mead may lift their glasses a bit higher next y... More »
U.S. President Donald Trump displays his signature after signing the $1.5 trillion tax overhaul plan along with a short-term government spending bill in the Oval Office of the White House in Washington, U.S., December 22, 2017. REUTERS/Jonathan Ernst WASHINGTO... More »
Jay Clayton, Chairman of the Securities and Exchange Commission in Washington, U.S. September 26, 2017. REUTERS/Aaron P. Bernstein WASHINGTON (Reuters) – U.S. financial regulators said on Friday that because the new tax bill could make timely financial reporti... More »
MEXICO CITY (Reuters) – Mexico’s finance ministry will evaluate whether to make fiscal changes in response to the U.S. tax reform, according to a document seen by Reuters on Friday. In the document, the ministry said Mexico would not make changes that left it ... More »
A tax form is pictured on tax deadline day at the main Post Office in New York April 15, 2009. REUTERS/Chip East NEW YORK (Reuters) – There will be no holiday slowdown this year for tax consultant Jonathan Traub, who skipped hitting the ski slopes with his fam... More »
(Reuters) – The Republican-led U.S. House of Representatives on Wednesday passed the biggest overhaul of the U.S. tax code in 30 years, sending a sweeping $1.5 trillion bill to President Donald Trump for his signature. The tax plan is designed to kick-start ec... More »
FILE PHOTO: An Apple logo is seen in a store in Los Angeles, California, U.S., March 24, 2017. REUTERS/Lucy Nicholson SAN FRANCISCO (Reuters) – The U.S. tax overhaul is a boon to Silicon Valley technology companies like Apple Inc (AAPL.O) and Alphabet Inc (GOO... More »
A rose is covered with fresh snow on a cold winter day in the village of Lavacherie, Belgium December 3, 2017. REUTERS/Yves Herman NEW YORK (Reuters) – Acrimonious couples who were racing to get divorced by Dec. 31 or face dire tax consequences can breathe a s... More »
The top of the cap of a graduating student is pictured during their graduation ceremony at UC San Diego in San Diego, California, U.S. June 17, 2017. REUTERS/Mike Blake NEW YORK (Reuters) – Families with children in private or parochial school will be able to ... More »
President Donald Trump speaks via video teleconference with troops from Mar-a-Lago estate in Palm Beach, Florida, November 23, 2017. REUTERS/Eric Thayer WASHINGTON (Reuters) – Wealthy business owners, such as President Donald Trump, stand to gain from a provis... More »
Copies of tax legislation are seen during a markup on the “Tax Cuts and Jobs Act” on Capitol Hill in Washington, U.S., November 15, 2017. REUTERS/Aaron P. Bernstein NEW YORK (Reuters) – Financial advisers and accountants are working overtime as many U.S. taxpa... More »
FILE PHOTO: Senator John Cornyn (R-TX) speaks during Senate Intelligence Committee hearing to answer questions related to Russian use of social media to influence U.S. elections, on Capitol Hill in Washington, U.S., November 1, 2017. REUTERS/Joshua Roberts/Fil... More »
U.S. President Donald Trump on Saturday defended a Republican tax-cut plan against Democratic charges that it favors the rich, saying it will be "one of the great Christmas gifts" for the middle class with just days to go before Congress votes. More »
FILE PHOTO: U.S. President Donald Trump delivers a speech on tax reform legislation at the White House in Washington, U.S., December 13, 2017. REUTERS/Carlos Barria (Reuters) – Republicans in the Senate and House of Representatives are expected to vote within ... More »
FILE PHOTO – The logo of Amazon is seen at the company logistics center in Lauwin-Planque, northern France on February 20, 2017. REUTERS/Pascal Rossignol/File Photo MILAN (Reuters) – Italy’s inland revenue service said on Friday it had reached an agreement wit... More »
FILE PHOTO: Sen. Marco Rubio (R-FL) speaks at a press conference at the Capitol Building in Washington, U.S., September 26, 2017. REUTERS/Aaron P. Bernstein WASHINGTON (Reuters) – President Donald Trump’s drive to win passage of a sweeping Republican tax bill ... More »
FILE PHOTO: A woman talks on her mobile phone on a pavement in Kolkata, India July 5, 2017. REUTERS/Rupak De Chowdhuri/File Photo NEW DELHI (Reuters) – India has increased the import tax on dozens of electronic products such as mobile phones and television set... More »
(Reuters) – Republicans in the U.S. Congress reached a deal on tax legislation on Wednesday, clearing the way for final votes next week on a package that, if approved, would be sent to President Donald Trump to sign into law. Formal language of the legislation... More »
Since mid-2016, U.S. House Speaker Paul Ryan has carried around a "postcard" that he has said shows how easy it will be for Americans to file their taxes once Republicans are finished their tax overhaul. More »
FILE PHOTO: U.S. President Donald Trump gestures as he speaks at the White House in Washington, U.S., November 27, 2017. REUTERS/Kevin Lamarque WASHINGTON (Reuters) – President Donald Trump’s weekend remark about a scaled-back tax cut for corporations sparked ... More »
WASHINGTON (Reuters) – Millions of households would no longer benefit from federal tax deductions for charity donations, mortgage interest payments and property tax under Republican tax plans being debated in the U.S. Congress, a think tank said on Thursday. T... More »
U.S. Senate Majority Leader Mitch McConnell (R-KY) walks to the Senate floor as debate wraps up over the Republican tax reform plan in Washington, U.S., December 1, 2017. REUTERS/James Lawler Duggan WASHINGTON (Reuters) – U.S. Senate Republican leader Mitch Mc... More »
WASHINGTON (Reuters) – U.S. Senate Republicans made last-minute changes to their tax bill to secure enough votes to pass the sweeping legislation on Saturday and move on to negotiations this week on a final measure with Republicans in the House of Representati... More »
Demonstrators gather outside the U.S. Capitol to protest the Republican tax plan as it works through the Senate in Washington November 30, 2017. REUTERS/James Lawler Duggan WASHINGTON (Reuters) – U.S. Senate Republicans will grapple on Friday with the possibil... More »
WASHINGTON (Reuters) – Republican U.S. Senator Steve Daines of Montana, one of several senators seen as pivotal to the fate of a Republican tax overhaul plan, said on Friday he would support the tax bill. “After weeks of fighting for Main Street businesses inc... More »
Demonstrators gather outside the U.S. Capitol to protest the Republican tax plan as it works through the Senate in Washington November 30, 2017. REUTERS/James Lawler Duggan WASHINGTON (Reuters) – The U.S. Senate on Thursday delayed voting on a Republican tax o... More »
Charles "Chuck" Johnson is not the kind of foot soldier in the army of lobbyists that House of Representatives Speaker Paul Ryan warned would descend on Washington to fight the biggest overhaul of the tax code since the 1980s. More »
European Union flags flutter outside the EU Commission headquarters in Brussels, Belgium June 14, 2017. REUTERS/Francois Lenoir BRUSSELS (Reuters) – European Union finance ministers will decide on Tuesday on the composition of an EU blacklist of tax havens tha... More »
U.S. Senator Jeff Flake (R-AZ) talks to reporters as he arrives for the weekly Republican party caucus luncheon at the U.S. Capitol in Washington, U.S. October 31, 2017. REUTERS/Jonathan Ernst WASHINGTON (Reuters) – U.S. President Donald Trump predicted on Sun... More »
U.S. President Donald Trump speaks about his recent trip to Asia in the Diplomatic Room of the White House in Washington, U.S., November 15, 2017. REUTERS/Joshua Roberts WASHINGTON (Reuters) – U.S. President Donald Trump would not insist on including repeal of... More »
Treasury Secretary Steve Mnuchin speaks at a news conference to introduce the Republican tax reform plan at the U.S. Capitol in Washington, U.S., November 9, 2017. REUTERS/Aaron P. Bernstein WASHINGTON (Reuters) – U.S. Treasury Secretary Steven Mnuchin said on... More »
U.S. President Donald Trump would not object to removing a provision in a Senate Republican tax plan that would repeal the Obamacare mandate if it "becomes an impediment," White House budget director Mick Mulvaney said on Sunday. More »
Copies of tax legislation are seen during a markup on the “Tax Cuts and Jobs Act” on Capitol Hill in Washington, U.S., November 15, 2017. REUTERS/Aaron P. Bernstein WASHINGTON (Reuters) – Global banks raised concerns on Friday over a provision in the U.S. Sena... More »
A proposal by the U.S. Senate to change the way shares in startup companies are taxed incited panic and dread in Silicon Valley on Monday, with startup founders and investors warning of nothing less than the demise of their industry should the proposal become ... More »
Congressional Republicans pushed ahead on Monday on a U.S. tax code overhaul as a Senate panel considered the issue, but risks lay ahead with major intraparty disputes unsettled and President Donald Trump returning soon from Asia as the debate heats up. More »
The U.S. House of Representatives Republican leadership is confident it has the votes to pass a tax overhaul bill when it comes to the House floor later this week, the chairman of the tax-writing Ways and Means committee, Representative Kevin Brady, said Monda... More »
President Donald Trump will meet with Republican members of the U.S. House of Representatives on Thursday ahead of the chamber's vote on tax reform legislation, the White House said on Monday. More »
The U.S. Senate Republican tax bill helped soothe nerves in the municipal bond market on Friday, just over a week after the House of Representatives proposed changes that would decrease its future supply of tax-free debt. More »
U.S. Senate Republicans unveiled a tax plan on Thursday that differed from the House of Representatives' version on several key fronts, including how they treat the corporate tax rate, the tax deduction for state and local taxes, and the estate tax. More »
A U.S. Senate tax reform proposal unveiled on Thursday does not eliminate a $7,500 electric vehicle tax credit as Republicans in the U.S. House of Representatives have proposed. More »
U.S. Commerce Secretary Wilbur Ross has kept investments in a shipping firm with significant business ties to Russian President Vladimir Putin's inner circle, U.S. media reported on Sunday, citing leaked documents from an offshore law firm. More »
U.S. House of Representatives Speaker Paul Ryan said on Sunday that Republican lawmakers are weighing a "host of ideas" as the House tax-writing committee begins revising a tax bill this week, though he expects the broad outlines to remain the same. More »
U.S. House speaker Paul Ryan said his colleagues might use the tax overhaul currently under consideration to repeal the Affordable Care Act provision that mandates individuals buy health insurance. More »
The Republican tax bill unveiled last week in the U.S. Congress could disrupt the global supply chains of large, multinational companies by slapping a 20-percent tax on cross-border transactions they routinely make between related business units. More »
The Republican tax plan unveiled on Thursday stirred anger at U.S. universities, which said its proposals to tax endowments of private institutions and repeal a deduction for student-loan interest payments would hurt institutions and students. More »
A U.S. Republican tax bill unveiled on Thursday offers big multinational companies more benefits than minuses, and could free up extra cash for investments, dividends or improving balance sheets. More »
President Donald Trump's plan for overhauling the U.S. tax system faced growing opposition from interest groups on Sunday, as Republicans prepare to unveil sweeping legislation that could eliminate some of the most popular tax breaks to help pay for lower taxe... More »
The U.S. House of Representatives helped pave the way on Thursday for deep tax cuts sought by President Donald Trump and Republican leaders, but barely overcame a revolt within party ranks that could foreshadow trouble ahead. More »
International corporate giants like Apple should pay more tax, the leader of Germany's most pro-business party said, calling for deeper cooperation within the European Union and in the group of 20 leading economies to bring this about. More »
The top U.S. Senate Republican and the White House budget director said on Sunday they hoped for action on a Republican tax reform package by the end of the year, while keeping their options open on how to pay for sweeping tax cuts. More »
Senate Republican Leader Mitch McConnell said on Sunday he has not abandoned his longtime goal of making sure any tax cuts are revenue neutral, saying the growth estimates in the Republican tax reform plan will offset the cuts. More »
U.S. Republican Senator Lisa Murkowski said on Monday that she was leaning toward a "yes" vote on a Senate budget resolution intended to facilitate the passage of tax reform legislation later this year. More »
With the fate of the Affordable Care Act up in the air after President Donald Trump took office in January, some taxpayers skipped a question on their 2016 returns that asked them to certify whether they had health insurance. More »
Congressional Republicans moved to hasten an overhaul of the U.S. tax code on Thursday, while Federal Reserve officials warned in rare public remarks that President Donald Trump's tax plan could lead to inflation and unsustainable federal debt. More »
U.S. Senator Rand Paul, a conservative maverick who helped kill the latest Republican effort to overturn Obamacare, took issue with President Donald Trump's tax plan on Monday, asking in a tweet if it was really Republican. More »
U.S. President Donald Trump said on Saturday that he will ask the Republican-controlled Congress to further speed up its efforts to overhaul the U.S. tax code, citing the potential impact of Hurricane Irma as a reason to hasten reforms. More »
France, Germany, Italy and Spain want digital multinationals like Amazon and Google to be taxed in Europe based on their revenues, rather than only profits as now, their finance ministers said in a joint letter. More »
With U.S. Congress members focused during their August recess on finding ways to lower the corporate tax rate, industry groups and other sectors of society are gearing up to fight proposed changes to the personal income tax. More »
FILE PHOTO: A salesman arranges gold ornaments, on a display board, inside a jewellery showroom during Akshaya Tritiya, a major gold buying festival, in Kochi, India April 28, 2017. REUTERS/Sivaram V/File Photo A hike in taxes on gold sales in India could stok... More »
An Illinois judge on Friday halted implementation of a measure that would have made Chicago the latest U.S. city to tax sweetened drinks, saying a lawsuit filed by retailers to block it must run its course. More »
U.S. President Donald Trump walks from Maine One as he returns to the White House in Washington, U.S., June 16, 2017. REUTERS/Joshua Roberts President Donald Trump and Republican leaders in Congress will soon confront a complex challenge for tax reform: how to... More »
FILE PHOTO – A man arrives at the Uber offices in Queens, New York, U.S. on February 2, 2017. REUTERS/Brendan McDermid/File Photo Car service Uber is using a gap in EU and UK tax rules to avoid incurring sales tax on the booking fees it charges drivers in Brit... More »
Saudi Arabia will impose a special tax on tobacco and sugary drinks on June 10, as part of a series of steps towards closing a budget deficit caused by low oil prices. More »
U.S. National Economic Director Gary Cohn (L) and Treasury Secretary Steven Mnuchin end their breifing after unveiling the Trump administration’s tax reform proposal in the White House briefing room in Washington, U.S, April 26, 2017. REUTERS/Kevin Lamarque Pr... More »
By Ronnie Cohen(Reuters Health) – The nation’s first soda tax is fulfilling health experts’ goals in Berkeley, California.Sales of sugar-swee More »
FILE PHOTO: U.S. House Ways and Means Committee Chairman Representative Kevin Brady (R-TX) arrives at a House of Representatives conference meeting on Capitol Hill in Washington, U.S. April 4, 2017. REUTERS/Eric Thayer The tax oversight committee in the U.S. H... More »
File photo: A stands outside Fannie Mae headquarters in Washington February 21, 2014. REUTERS/Kevin Lamarque U.S. mortgage finance giants Fannie Mae (FNMA.PK) and Freddie Mac (FMCC.PK) may write down $21 billion of tax-related assets if there is a deep cut in ... More »
FILE PHOTO: House Freedom Caucus Chairman U.S. Representative Mark Meadows (R-NC) speaks to reporters after meeting with his caucus members about their votes on a potential repeal of Obamacare on Capitol Hill in Washington, U.S., March 23, 2017. REUTERS/Jonath... More »
The logo of Dow Jones Industrial Average stock market index listed company Boeing (BA) is seen in Los Angeles, California, United States, April 22, 2016. REUTERS/Lucy Nicholson A U.S. tax overhaul proposed by Republican leaders in Congress would deepen divisio... More »
FILE PHOTO – The corporate logo of financial firm Morgan Stanley is pictured on the company’s world headquarters in New York, New York, U.S. on January 20, 2015. REUTERS/Mike Segar/File Photo Morgan Stanley gave some wealth management clients incorrect informa... More »
President Donald Trump is interviewed by Reuters in the Oval Office at the White House in Washington, U.S., February 23, 2017. REUTERS/Jonathan Ernst U.S. President Donald Trump on Thursday spoke positively about a border adjustment tax being pushed by Republi... More »
