Obama Wants New Law to Tax Overseas Profits and Nail Tax Dodgers

By Don MillerAssociate EditorMoney Morning U.S. President Barack Obama today (Monday) announced a proposal for new legislation to pursue American tax evaders by closing loopholes and clamping down on overseas tax breaks for American businesses and individuals. Under provisions of the plan, companies would no longer be able to write off domestic expenses for generating […]

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Hong Kong Makes Huge Tax Cuts, Increases Spending on Infrastructure Intangibles

By Mike Caggeso Associate Editor Sitting on an estimated $15 billion budget surplus, Hong Kong's financial chief, John Tsang, said he would slash taxes, eliminate duties on beer and wine, increase spending on health services and introduce measures to bridge the income gap and reduce air pollution, AFP reported. Income taxes will be cut from […]

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U.S. Senate Passes Bill To Extend Internet-Tax Moratorium by Another Seven Years

From Staff Reports By passing a bill that would extend the moratorium on Internet access taxes for another seven years, the U.S. Senate last week gave proponents of the legislation hope that the extension can be signed into law before the moratorium lapses this Thursday (Nov. 1). The Senate bill is essentially an amended version […]

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