Tax Revenue News
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Turkish opposition lawmakers said the government was advancing an Islamist agenda after a law was passed banning all alcohol advertising together with night-time alcohol sales at stores. Local businesses and foreign investors expressed concern.
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Turkey’s parliament approved a law banning retail alcohol sales at night and promotion of alcoholic drinks as opposition lawmakers accused Prime Minister Recep Tayyip Erdogan of pushing an Islamist agenda.
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Portugal’s Finance Ministry said the government posted a wider deficit in the four months through April after spending rose more than tax revenue.
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Opap SA, Greece’s biggest gambling company, said profit in the first quarter dropped 71 percent as a new gaming tax weighed on earnings.
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Kenya, East Africa’s largest economy, collected 15 percent less revenue than targeted in the nine months through March, indicating economic output slowed ahead of this year’s elections, Treasury data showed.
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Reports of the death of suburbia have been exaggerated.
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Investor confidence in U.S. municipal debt is the highest in three years even as Moody’s Investors Service warns that local-government credit quality is set to weaken for the 18th straight quarter.
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Oil pipelines, under attack from environmentalists, are essential to Canada’s economic growth just as railroads were in the 1880s, Enbridge Inc. Chief Executive Officer Al Monaco said.
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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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U.S. Senate scrutiny of Apple Inc.’s tax strategies turned the spotlight on a unit with $30 billion in profit since 2009 that’s incorporated in Ireland, controlled by a board in California, and doesn’t pay taxes in either place.
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