NEW YORK (Reuters) – President Donald Trump on Monday urged a federal appeals court not to let Manhattan’s top prosecutor have his tax returns, saying “the deck was clearly stacked against” him, and said he would ask the Supreme Court to intervene if necessary... More »
CHICAGO (Reuters) – What happens to Social Security if we eliminate its funding? That is the question to ask after Donald Trump signed a presidential memorandum here last weekend ordering the deferral through year-end of revenue collected under the Federal Ins... More »
BEDMINSTER, N.J. (Reuters) – President Donald Trump signed executive orders on Saturday partly restoring enhanced unemployment payments to the tens of millions of Americans who lost jobs in the coronavirus pandemic, as the United States marked a grim milestone... More »
(Reuters) – After failing to reach a deal with the U.S. Congress for a fresh round of coronavirus pandemic relief, President Donald Trump signed a series of executive orders aimed at pumping up America’s pandemic-hit economy. The orders are likely to face some... More »
WASHINGTON/BEDMINSTER, N.J. (Reuters) – U.S. President Donald Trump vowed to unilaterally suspend payroll taxes and extend expired coronavirus unemployment benefits after negotiations with congressional Democrats on a broad pandemic aid package collapsed on Fr... More »
LONDON (Reuters) – Irish peacemaker John Hume was a “political giant” who did so much to help bring an end to the Troubles in Northern Ireland, British Prime Minister Boris Johnson said on Monday. Hume, a key Roman Catholic architect of Northern Ireland’s 1998... More »
MOSCOW (Reuters) – Russia’s finance ministry said on Monday it would scrap an agreement with Cyprus aimed at avoiding double taxation after talks to modify the deal failed, and that legal changes would make it more profitable for people to transfer money back ... More »
WASHINGTON/BERLIN (Reuters) – Finance officials from the Group of 20 major economies on Saturday vowed to resolve major differences over taxing big tech companies and reach a broad, consensus-based solution on international taxation this year. The United State... More »
LONDON (Reuters) – British minister Oliver Dowden will make a statement to parliament on Huawei some time after 1130 GMT on Tuesday, the opposition Labour Party said on Twitter. Britain is set to ban Huawei from Britain’s 5G network in a landmark decision that... More »
LONDON (Reuters) – Britain will place a “huge priority” on national security when considering Chinese telecoms firm Huawei’s role in the country’s 5G network, justice minister Robert Buckland said on Monday. “National security comes first … and I know that the... More »
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 »
TOKYO (Reuters) – Japanese Finance Minister Taro Aso said on Tuesday he was not considering tax cuts, including a reduction in the sales tax, for the time being as a way of easing the economic pain from the coronavirus pandemic. “Japan’s fiscal condition is in... More »
BEIJING (Reuters) – China announced on Tuesday a new list of 79 U.S. products eligible for waivers from retaliatory tariffs imposed at the height of the bilateral trade war, amid continued pressure on Beijing to boost imports from the United States. China’s fi... More »
WASHINGTON (Reuters) – President Donald Trump may be open to further federal funding to help U.S. states recover funds spent battling the novel coronavirus, White House economic adviser Kevin Hassett said on Sunday as Congress weighs another possible economic ... More »
WASHINGTON (Reuters) – Treasury Secretary Steven Mnuchin on Monday said bipartisan discussions are underway over whether more U.S. government relief funding is needed amid the nation’s novel coronavirus outbreak, but that President Donald Trump is focused on t... 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 »
WASHINGTON (Reuters) – The top Republicans in the U.S. Congress displayed a united front on Friday in their drive for coronavirus-related liability protections for businesses, saying such measures will be crucial to talks about future relief legislation. Senat... More »
WASHINGTON (Reuters) – U.S. House Speaker Nancy Pelosi said on Monday Republican and Democratic negotiators have come to terms on the “principles” of the next coronavirus relief package, which is expected to focus on more aid for small businesses and be taken ... More »
WASHINGTON (Reuters) – U.S. President Donald Trump said on Monday he was working with state governors to make sure they had the resources needed to ramp up coronavirus testing and added that New York Governor Andrew Cuomo would visit the White House to discuss... More »
WASHINGTON (Reuters) – U.S. President Donald Trump said on Monday he hoped negotiators in Congress would reach a deal to provide more aid for small businesses hurt by the coronavirus pandemic, with a vote possible in the Senate on Tuesday. “We hope to have an ... More »
WASHINGTON (Reuters) – The two top Republicans in the U.S. Congress vowed on Saturday to oppose Democrats’ demands to match a $250 billion proposal to aid small businesses during the coronavirus pandemic with the same amount for hospitals and state and local g... More »
WASHINGTON (Reuters) – The U.S. Treasury Department followed proper procedures in denying the U.S. House of Representatives access to President Donald Trump’s tax returns, the inspector general’s office said in a letter released on Friday. House Ways and Means... More »
CHICAGO (Reuters) – Investors in the U.S. municipal bond market are growing increasingly worried over the ability of states, cities and other debt issuers to weather the financial fallout of the COVID-19 pandemic caused by the novel coronavirus. Those concerns... More »
WASHINGTON (Reuters) – Americans should start receiving direct payments from the U.S. government in mid-April to help them cope with the coronavirus pandemic, but some may not see the money until mid-September, according to a congressional committee. The gover... More »
WASHINGTON (Reuters) – U.S. House of Representatives Speaker Nancy Pelosi said on Thursday she will form a bipartisan select committee on the coronavirus crisis to oversee the spending of $2.3 trillion that Congress has approved to respond to the pandemic. In ... More »
WASHINGTON (Reuters) – The International Monetary Fund said on Monday the relaxation of the euro zone’s fiscal rules and support from the European Central Bank and the European Stability Mechanism is critical to a strong regional response to the coronavirus pa... More »
WASHINGTON (Reuters) – Fresh partisan divisions flared on Sunday on the next steps for the U.S. Congress in dealing with the coronavirus crisis, with the top House of Representatives Republican casting doubt on the need for more economic stimulus legislation w... More »
WASHINGTON (Reuters) – U.S. House of Representatives Speaker Nancy Pelosi said on Friday the House will set up a panel to oversee expenditures under the $2.2 trillion coronavirus relief law. Pelosi made the comment in an MSNBC interview when asked about a stat... More »
WASHINGTON (Reuters) – Some lower-paid U.S. workers could effectively get a short-term raise if they lose their jobs during the coronavirus crisis, thanks to government computer systems that rely on 1950s-era technology. Aging state mainframes do not have the ... More »
WASHINGTON (Reuters) – The U.S. Treasury secretary and the Senate Democratic leader voiced confidence late on Monday for a deal to be reached soon on a far-reaching coronavirus economic stimulus package that had been stalled in the U.S. Senate as lawmakers hag... More »
WASHINGTON (Reuters) – With the coronavirus pandemic in the United States intensifying, Senate Democrats and Republicans will scramble on Monday to come to an agreement on a far-reaching $1 trillion-plus coronavirus stimulus package after a procedural vote to ... More »
WASHINGTON (Reuters) – President Donald Trump on Thursday opened the door to a radical shift in the U.S. government’s relationship to private industry as the coronavirus outbreak upends the nation’s economy, saying he would back the government taking stakes in... More »
BERLIN (Reuters) – Germany’s southern state of Bavaria on Monday announced a fund worth up to 10 billion euros ($11.21 billion) to help the region withstand the coronavirus outbreak, its premier said, declaring a state of emergency as the number of new cases c... More »
LONDON (Reuters) – Britain’s new finance minister Rishi Sunak will have to raise taxes rather than rely on tweaks to budget rules if he wants to really ramp up spending in a first post-Brexit budget next month, the Resolution Foundation, a think-tank, said. Su... 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 »
NEW DELHI (Reuters) – U.S. satellite broadband provider Hughes Network Systems may have to shut its Indian operations due to unpaid levies owed to the government, which could put thousands of banking services at risk, a company letter seen by Reuters showed. 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 »
DUBLIN (Reuters) – Nine years after a devastating crash in property prices catapulted the party of Irish Prime Minister Leo Varadkar to power, a housing market recovery too rapid for many threatens to dump it into opposition at this week’s general election. Th... More »
BEIJING (Reuters) – China’s Vice Premier Liu He, head of the country’s negotiation team in Sino-U.S. trade talks, will sign a “Phase 1” deal in Washington next week, the commerce ministry said on Thursday. Liu will visit Washington on Jan. 13-15, said Gao Feng... More »
BEIJING (Reuters) – China will lower tariffs on products ranging from frozen pork and avocado to some types of semiconductors next year as Beijing looks to boost imports amid a slowing economy and a trade war with the United States. Next year, China will imple... More »
BEIJING (Reuters) – China and the United States should continue bilateral trade talks and work toward removing all existing tariffs, China’s National Bureau of Statistics spokesman Fu Linghui said on Monday. Fu also told reporters during a briefing that China’... More »
WASHINGTON (Reuters) – Democratic presidential candidate Elizabeth Warren released information on Sunday about her past legal work, showing nearly $2 million in compensation from dozens of clients over the decades, as a dispute intensified with her rival Pete ... More »
BEIJING (Reuters) – China said on Monday that it hoped to make a trade deal with the United States as soon as possible, amid intense discussions before fresh U.S. tariffs on Chinese imports are due to kick in at the end of the week. Beijing hopes it can reach ... More »
WASHINGTON (Reuters) – Democratic presidential candidate Elizabeth Warren released information on Sunday about her past legal work, showing nearly $2 million in compensation from dozens of clients, as a dispute intensified with her rival Pete Buttigieg over tr... More »
BOSTON (Reuters) – As U.S. corporate jet use approaches pre-financial crisis levels and chief executives take an increasing number of personal trips on the company tab, many investors are being kept in the dark about the true cost of the perk. For the S&P 500 ... More »
WASHINGTON (Reuters) – U.S. presidential contender Elizabeth Warren’s $20.5 trillion plan to provide healthcare for all Americans was attacked on the weekend by Republicans and fellow Democrats and parodied on “Saturday Night Live,” the long-running network te... More »
NEW YORK/WASHINGTON (Reuters) – Democratic U.S. presidential candidate Elizabeth Warren on Friday proposed a $20.5 trillion Medicare for All plan that she said would not require raising middle-class taxes “one penny,” answering critics who had attacked her for... More »
WASHINGTON (Reuters) – Democratic presidential candidate Elizabeth Warren’s plan for universal healthcare rests on an assumption she can radically change an industry the size of Germany’s entire economy without new costs for the average taxpayer. On paper, the... More »
MUMBAI (Reuters) – Indian tax officials are pushing back against Prime Minister Narendra Modi’s new faceless tax assessment program, complaining about a lack of consultation and inadequate resources to implement the changes, a letter reviewed by Reuters shows.... More »
NEW YORK (Reuters) – U.S. tax reform is finally catching up with the college financial aid process, and the synchronization is off to a rocky start. The Free Application for Federal Student Aid (FAFSA) for the 2010-2021 academic year became available on Oct. 1... More »
BEIJING (Reuters) – China hopes Beijing and Washington will resolve their trade dispute “with a calm and rational attitude”, Vice Commerce Minister Wang Shouwen said on Sunday, ahead of talks in two weeks between the two sides. The United States and China have... More »
TOKYO (Reuters) – Japan’s industrial output shrank more than expected in August in the latest warning that the economy and its manufacturers are facing intensifying pressure from a bitter Sino-U.S. trade war. Retail sales, however, expanded at a faster-than-ex... More »
TOKYO (Reuters) – Japanese Economy Minister Yasutoshi Nishimura said on Monday he would watch the impact of the October sales tax hike on the economy and take additional measures to prop up the economy if needed. “After the consumption tax rate hike, I’ll take... More »
BRUSSELS (Reuters) – European Union commissioners-designate said the bloc should agree on a digital tax if no deal on the matter was reached at a global level by the end of next year, ramping up pressure on multinationals accused of paying too little. In writt... More »
HELSINKI (Reuters) – France and Germany said on Friday that Facebook Inc’s (FB.O) Libra currency posed risks to the financial sector that could block its authorization in Europe, and backed the development of an alternative public cryptocurrency. The criticism... More »
SHANGHAI/BEIJING (Reuters) – When China launched the expansion of the Shanghai free trade zone (FTZ) recently and announced six new FTZs in July, officials touted the efforts to attract foreign investment and deepen trade ties with neighboring countries. Yet, ... More »
MILAN (Reuters) – Italy’s prime minister said on Sunday he expected to finalize talks over a new government by Wednesday, as the 5-Star Movement and Democratic Party were in intense discussions during the weekend to hammer out a deal on a common agenda and Cab... 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 »
WASHINGTON (Reuters) – A U.S. judge refused on Thursday to fast-track a congressional lawsuit seeking to force disclosure of President Donald Trump’s federal tax returns, saying it was a complicated and important matter that should not be rushed. U.S. District... 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 »
BERLIN (Reuters) – Germany’s cartel office said on Monday it would appeal a regional court decision to suspend restrictions it had placed on Facebook’s data collection practices to the country’s highest court. A court in Duesseldorf had earlier suspended a Feb... More »
LONDON (Reuters) – Britain’s parliament needs to be recalled immediately to discuss Brexit, the opposition Labour Party’s finance spokesman John McDonnell said on Monday, after leaked official documents forecast possible food, fuel, and medicine shortages. Bri... More »
ROME (Reuters) – Italy’s ruling League party would seek tax cuts in the 2020 budget by raising the country’s deficit a little bit, its economics spokesman said on Monday. League chief Matteo Salvini pulled the plug last week on its coalition government with th... More »
(Reuters) – Amazon.com Inc on Friday defeated an appeal by the U.S. Internal Revenue Service in what the online retailer has called a $1.5 billion dispute over its tax treatment of transactions with a Luxembourg subsidiary. In a 3-0 decision, the 9th U.S. Circ... More »
BEIJING (Reuters) – China will push to attract more high-tech manufacturers to set up in the world’s No.2 economy, the nation’s commerce ministry said late on Friday, without giving further details. The comment came as the nation’s exports unexpectedly returne... More »
(Reuters) – A U.S. judge will hear arguments on July 29 in President Donald Trump’s lawsuit seeking to block a House of Representatives committee from obtaining his New York state tax returns, according to a court filing issued Sunday. U.S. District Judge Carl... More »
WASHINGTON/PARIS (Reuters) – U.S. President Donald Trump threatened to tax French wines on Friday in retaliation for France’s recent proposal to levy a tax aimed at big U.S. technology companies. Trump had told French President Emmanuel Macron last week that h... More »
PARIS (Reuters) – Finance Minister Bruno Le Maire said on Saturday that France would proceed with taxing revenues of big technology firms and urged the United States not to bring trade tariffs into the debate on how to fairly raise levies on digital services. ... 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 »
LAUSANNE, Switzerland (Reuters) – Switzerland’s supreme court on Friday voted in favor of handing over historical data on over 40,000 UBS clients to French authorities in a landmark ruling. Three of the five judges voted in favor of overthrowing the lower cour... More »
BEIJING (Reuters) – China’s economic growth slowed to 6.2% in the second quarter, its weakest pace in at least 27 years, as demand at home and abroad faltered in the face of mounting U.S. trade pressure. While more upbeat June factory output and retail sales o... More »
LOS ANGELES (Reuters) – Democratic presidential candidate Cory Booker was set to unveil a plan on Monday to greatly increase funding for elderly Americans needing long-term health care, and also to increase funding for people who look after them. Booker, a U.S... More »
WASHINGTON (Reuters) – Former U.S. Vice President Joe Biden, the front-runner in the Democratic presidential race, unveiled a healthcare plan on Monday estimated to cost $750 billion and paid for partly by higher tax rates for the wealthy and doubled tax rates... 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 »
PHILADELPHIA (Reuters) – Democratic presidential hopeful Elizabeth Warren told a room full of liberal activists on Saturday that the party needs to fully embrace polices such as higher taxes on the wealthy, wiping out student loan debt and criminal justice ref... More »
ATHENS (Reuters) – Greece’s opposition conservatives returned to power with a landslide victory in snap elections on Sunday, and Prime Minister elect Kyriakos Mitsotakis said he had a clear mandate for change, pledging more investments and fewer taxes. The win... More »
MUMBAI/NEW DELHI (Reuters) – India proposed tax waivers on Friday on the purchase of electric vehicles and removed import taxes on some auto components to help boost sales and reduce its dependence on fossil fuels. India, the world’s third-biggest emitter of g... More »
NEW YORK (Reuters) – The Internal Revenue Service would like American taxpayers to look over their paystubs and make sure they are withholding the right amount – please. In the first year of the new tax law, 2018, Americans underestimated how much they needed ... More »
ISTANBUL (Reuters) – The Turkish lira, bonds and shares gained on Monday after the opposition dealt a stinging blow to President Tayyip Erdogan by winning control of Istanbul in a re-run mayoral election on Sunday. Turkish assets have lost value since March am... More »
FUKUOKA, Japan (Reuters) – A highly anticipated late June meeting between U.S. President Donald Trump and Chinese President Xi Jinping has some parallels with their Buenos Aires summit last December that postponed a tariff hike, U.S. Treasury Secretary Steven ... More »
NEW YORK (Reuters) – Saving for retirement is such a lofty goal that the U.S. government has always been willing to give tax incentives to encourage people to do more of it. But times change, and the retirement reform bills that are on a fast-track through Con... More »
MEXICO CITY (Reuters) – A tax withholding plan in Mexico for drivers at ride-hailing firms envisaged as voluntary when it was unveiled earlier this week could become obligatory in 2020, Spanish company Cabify said on Friday. Mexico’s government on Monday outli... More »
PRAGUE (Reuters) – The Czech government will stick to plans for a 40 billion crown ($1.73 billion) central government budget deficit in 2020, unchanged from its 2019 target, Prime Minister Andrej Babis said as draft preparations near an end. The Czech Republic... More »
BEIJING (Reuters) – China’s foreign ministry said on Monday the country will never surrender to external pressure after Washington renewed its threat to impose tariffs on all Chinese imports in an escalating trade dispute. The trade war between the world’s top... More »
BEIJING (Reuters) – China’s foreign ministry said on Monday the country will never surrender to foreign pressure after Washington renewed its threat to impose tariffs on all Chinese imports in an escalating trade dispute. Foreign ministry spokesman Geng Shuang... More »
BEIJING (Reuters) – China’s door to talks with the United States about their trade dispute is always open, but China will not yield on important issues of principle, state media said on Sunday. There are no winners in a trade war, and China does not want to fi... More »
(Reuters) – Warren Buffett’s Berkshire Hathaway Inc on Wednesday said a $377 million charge it incurred recently was tied to a solar generation company that U.S. authorities have linked to fraud. Berkshire said in its first-quarter report on Saturday it had in... More »
NEW YORK(Reuters) – Stressed out by the tax deadline on April 15? Yes, of course, there is an app for that. Some 52 percent of Americans find the filing process stressful, according to a survey by tax-prep firm TaxSlayer. That is why wellness app Headspace is ... More »
PARIS (Reuters) – EU Economic Affairs and Tax Commissioner Pierre Moscovici said on Monday he believed Britain would not leave the European Union without a withdrawal agreement. EU leaders handed Prime Minister Theresa May a last chance at a summit on Friday t... More »
WASHINGTON (Reuters) – Amazon.com Inc’s planned second headquarters in northern Virginia cleared a key test on Saturday when local officials approved a proposed financial package worth an estimated $51 million amid a small but vocal opposition. Amazon in Novem... More »
WASHINGTON (Reuters) – Amazon.com Inc’s plan to set up a second headquarters in northern Virginia, after being rebuffed in New York, will face its first test when local officials vote on Saturday on a proposed financial package worth an estimated $51 million. ... More »
ISTANBUL (Reuters) – The worst is now behind Turkey’s economy, Turkish Finance Minister Berat Albayrak said on Monday, following the release of official data showing the economy contracted at a sharper than expected 3.0 percent in the fourth quarter of 2018. O... More »
WASHINGTON (Reuters) – When President Donald Trump proposes his 2020 federal budget on Monday, official Washington will likely have a quick look, shrug and move on, marking another stage in the quiet decay of the U.S. government’s traditional policy-making pro... More »
NEW YORK (Reuters) – Senator Elizabeth Warren vowed on Friday to break up Amazon, Google and Facebook if elected U.S. president to promote competition in the technology sector. Seeking to stand out in a crowded field vying to be the Democratic candidate for pr... 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 »
