Tax Policy News
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The European Union needs to step up efforts to fight tax evasion and coordinate policies to ensure equal opportunities to companies in the 27 member states, Finland’s Prime Minister Jyrki Katainen said.
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A congressional hearing into Apple Inc.’s use of offshore tax shelters called attention to how U.S. companies lower their taxes, and underscored the difficulty Congress confronts when trying to end the practice.
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U.S. policy makers must address debt loads projected to rise later this decade to avoid a 2013 downgrade, even as the latest budget projections are “credit positive,” according to Moody’s Investors Service.
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European Union leaders struggling to find a consensus on how to overcome the debt crisis and revive economic growth will use a summit meeting this week to focus on fighting tax evasion and on the bloc’s energy policy.
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Republicans defended Mitt Romney against criticism from Democrats that he avoided taxes by keeping money stashed overseas. Those roles are now reversed with the disclosure that President Barack Obama’s pick to run the Commerce Department does the same thing.
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Switzerland said it will stop differentiating between foreign and domestic companies in a bid to solve a disagreement with the European Union over preferential treatment for multinationals.
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Property and casualty insurers are voicing concerns that longstanding tax exemptions for municipal bonds could be disrupted as part of a broader U.S. tax-code changes being considered by Congress.
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February 13, 2013 - Just in time for Valentine’s Day, those romantics at the Tax Policy Center have issued a handy tax calculator for determining whether saying ‘I do” will cost you at tax time. Sometimes it pays to be single but not always. According to the tax center, ”couples in which spouses have similar incomes are most likely to incur marriage penalties, and couples in which one spouse earns all of the couple’s income never incur a marriage penalty and almost always receive a marriage bonus.”
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In early November, members of the U.K. Parliament assailed executives from Google Inc., Starbucks Corp. and Amazon.com Inc. for moving billions of dollars in profits into tax havens.
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Crude from outside the Organization of Petroleum Exporting Countries will increase by 990,000 barrels a day annually to 2018 as U.S. tight oil output continues to boom, according to the International Energy Agency.
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