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Non-Profits Receive Deadline Extension

Over 300 000 US charities are at risk of losing their tax exemption status, unless they make use of the Government’s new tax return filing deadline extension.

UK Consulting on Tax Issues

The UK Government is taking action to show national taxpayers and international investors that the country “is open for business”, by initiating an extensive round of public consultation of tax system legislation issues.

Tax Collection from Oil Exceed Industry Profit

The oil and gas industry is facing heavy criticism from the media, the public, and subsequently US Government politicians, under the assumption that the sector is under-taxed and action has to be taken to correct the situation. However, tax revenues arising from the sector in recent years have eclipsed the profits made by the entire oil extraction and exploration industry.

International Fight on Foreign Bribery Lagging

Countries representing an approximate 70 percent of world trade have been deemed as not having taken enough action to combat the occurrence of international bribery.

OECD Updates Several Tax Guidelines

In an effort to maintain a relevant and up-to-date set of instruments to facilitate international tax agreements and transactions, the Organization for Economic Cooperation and Development has published revised versions of its vital documents.

Feb 5, 20100

US Bonus Payment Tax Legislation Introduced to Senate

Categories: Taxation in USA

Two Democratic Senators have introduced a bill to the US Senate which seeks to impose a 50 percent tax on bonus payments exceeding the American President’s salary. On February 4th Barbra Boxer, Senator of California, and Jim Webb, Senator of Virginia, introduced a bill to the Senate which, if passed, will see taxes being levied on bonuses in excess of USD400 000. The tax will apply to bonuses paid by any organization which received more than USD5 billion from the US Government Troubled ... Read More