thelazybadger

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Pound to Dollar: Sterling on Back Foot after Public Spending Rises in November

The pound pared gains on Tuesday after Public Sector spending beat estimates; the longer-term technical picture, however, remains biased to the …

Sterling hits five-year low against dollar as election fears spook investors

City of London fears over a hung parliament and surprise data feeding doubts about UK economy drags pound down<p>Growing City jitters about the prospect of a hung parliament and signs of weakness in the key manufacturing sector prompted sterling to hit a five-year low against the dollar in foreign …

Ben Carson vs. the IRS

The retired doctor contrasts his proposal with the VAT.<p>Americans aching for a return to faster economic growth can get close to suicidal watching this year’s presidential campaign. Hillary Clinton promises more government across the board while Donald Trump aims to disrupt the flow of products and …

Twins Born In Different Years Deliver Quirky Tax Result For Parents

Maribel Valencia, 22, and her husband, Luis, became parents in 2015. And again in 2016. Maribel Valencia delivered twin babies at San Diego Kaiser Permanente Zion Medical Center over the weekend but the twins have different birthdays. Jaelyn, a girl, was delivered at 11:59 p.m. on December 31, …

Swiss bank: U.S. tax evasion settlement will cost $547 million

Swiss bank Julius Baer has set aside $547 million after reaching a deal with U.S. authorities to settle accusations it helped U.S. clients avoid taxes.<p>Baer said it has reached the preliminary agreement with the U.S. Attorney's Office for the Southern District of New York. The bank expects "a …

Taxes On Pollution Are Falling, Even As The World Gets Hotter And Hotter

But that’s not how it appears from a recent Organization for Economic Co-operation and Development report. It shows that the share of environmentally …

Debating a VAT

Senators Paul and Cruz have generated a debate on the right by proposing value-added taxes in their economic-reform plans. Conservatives have …

Top 400 Taxpayers Paying Higher Taxes Than The New York Times Thinks

It’s always fun to point out when preachy people have been hoisted on their own petards, especially in politics.<p>That’s why it was so gratifying to read the new data the IRS (written up in the Wall Street Journal) has put out on the top 400 taxpayers in America. Notably, this is the first tranche of …

The 100 Must-Follow Tax Twitter Feeds In 2016

The new year is almost upon us. Just in time for 2016, I’ve updated my list of tax Twitter accounts to follow.<p>If you’re already on Twitter, the list will make sense to you. If you’re not already on Twitter, here’s the scoop: Twitter is a social media site without the bells and whistles (and weird …

Drop in oil prices rocks producer states, triggers historic tax hike plan in Alaska

The plunge in oil prices has given a needed break to drivers this holiday season, but it’s causing some real pain in states that rely on oil revenue to fuel their economies and shore up their budgets.<p>Perhaps nowhere is the impact more pronounced than in Alaska, where Gov. Bill Walker is proposing a …

Oil

Yes, Virginia... There Is an Aggressive and Highly Successful Anti-Tax Lobby

The <i>Wall Street Journal</i> ran an interesting piece yesterday morning showing how the effective tax rate -- taxes as a share of income -- spiked up significantly in 2013 for the wealthiest taxpayers due to an increase in the tax rate on capital gains. This is important information and the piece …

Finance

Apple said to pay Italy $348 million, sign tax deal

<i>(By Emilio Parodi and Agnieszka Flak for Reuters)</i> — Apple Inc will pay Italy’s tax office 318 million euros ($348 million) to settle a dispute over allegations it failed to pay taxes for six years, a source with direct knowledge of the matter said on Wednesday.<p>The maker of iPhones and iPads will …

Tim Cook

The UK may force eBay and Amazon to pay for VAT fraud

A Guardian investigation has found that hundreds of high-value gifts including Apple watches, iPads, Fitbits and Panasonic cameras are being sold on Amazon's UK website without VAT being charged.<p>In recent months, record numbers of small overseas sellers have imported goods into Britain in advance …

Expert: Qatar, GCC to roll out consumption taxes within three years

For illustrative purposes only.<p>Qatar shoppers will likely find themselves reaching a little deeper into their pockets in the coming years after GCC …

'Buffett Rule' proposed to make sure high earners pay some tax

New research commissioned in the lead-up to the budget suggests the federal government could raise an extra $2 billion by simply providing a floor …

Apple CEO Tim Cook gets testy over tax avoidance talk on '60 Minutes'

In years past, <i>60 Minutes</i> profiles on Apple have offered glowing coverage of the company with few surprises.<p>But in this coming Sunday's installment, …

Apple

Sales tax not right, says John Lewis boss

Oxford Street has seemed busy this year, but shopper numbers are down as more people buy online; a 'tax on property’ is an outdated model, says the John Lewis chief<p>The boss of John Lewis has argued against a transaction tax as a viable solution to the burden caused by the business rates system.<p>Andy …

REPORT: Netflix paid no corporation tax in Britain last year

The video streaming service behind award-winning series such as Orange is the New Black and House of Cards charges customers a minimum of £5.99 a month to subscribe and has grown rapidly since its UK launch in 2012.<p>According to a Sunday Times investigation, it generated an estimated £200m of …

Will scammers hide behind new law for private tax collectors?

By Joe Davidson<p>Joe Davidson<p>Columnist focusing on federal government issues<p>Email Bio Follow<p>No one likes bill collectors, but now Uncle Sam will start using them to collect taxes.<p>And that could play right into the hands of crooks, who already have been very successful in cheating taxpayers out of …

Identity Theft

UPDATE 2-UAE says seeking consensus with neighbours on imposing VAT

* No agreement yet on tax rates, exemptions or timetable<p>* If deadline set, some countries could precede others<p>* Public, businesses would be given long lead times<p>* UAE also considering widening corporate tax base<p>* IMF has suggested 5 pct VAT, 10 pct corporate tax (Recasts with interview with finance …

Proposed Tax Increases in Alaska

Yesterday, Governor Bill Walker, an Independent, announced his fiscal year 2017 budget. The sharp drop in the price of oil has wreaked havoc on …

It's impossible to comprehend how much adopting #FairTax will INCREASE OUR FREEDOM…but it will be very substantial! https://t.co/3eZTS9lbWu

Why is the business world suddenly clamouring for a global carbon tax?

Among the various interests at the Paris climate talks, it is arguably the voice of business that has emerged most clearly. Many business leaders are …

Carbon Price

Angela Knight: Osborne’s new tax guru? The defender of the indefensible | Catherine Bennett

Now what could be the chancellor’s reasons for giving Angela Knight, ex-bank and energy apologist, this post?<p>Everyone deserves a second chance. Even a third. This, perhaps, was George Osborne’s thinking when he decided that absolutely nobody would make a better chair of his new Office of Tax …

Welsh government backs plan for 'pop tax' on sugary drinks

Labour-led government backs Plaid Cymru proposal but Conservatives say levy is not the answer to obesity problems<p>The Welsh government has backed the idea of introducing a tax on sugary drinks in the battle to cut rates of obesity and diabetes.<p>The finance minister, Jane Hutt, told the Welsh assembly …

This Is Coca-Cola's Response to India's 'Sin' Tax

The Indian subsidiary of Coca-Cola (ko) said on Friday it may have to close some bottling plants if the government pushes through a proposal that …