The corporate tax rate has dropped to a historic low of 21.5%, according to new data from the Internal Revenue Service.The tax cut was announced last month as President Donald Trump sought to boost corporate profits and tax revenues.The average effective corporate tax rates have fallen from 33% to 16% since 2001.That's the first time in US history the average
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The government will likely be asking the courts to take up a case filed by a Canadian-born family who is challenging its tax on their foreign-born son, who moved back to Canada as a child and is now 30 years old.The case is the latest of several that have been filed by American parents of Canadian children in recent years.It
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China's Ministry of Foreign Affairs has published a long-awaited list of countries that China considers its spheres of influence.The list of 39 countries is not a list of China's neighbors.It is not even a list that includes the countries listed on the United Nations Security Council.Instead, it is a list compiled by China in an attempt to gauge how it
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As we move closer to the deadline of the end of April, many are looking ahead to a big tax overhaul and many are wondering how to get started.Here are some of the important lessons we can learn from the experience of those who have been successful in the process.1.You don't have to be rich or famous to run for
Read MoreThe Tax Office is yet to release its final report on corporate tax compliance by trusts and the provision of tax refunding to them.The report is likely to contain recommendations for further action.The latest draft of the report was prepared by a joint working group of the Office of the Taxpayer Advocate General (OTAG), the Office for Taxpayers Protection (OTAP)
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With the launch of the Vans Malaysia Tax Course, the US-based brand is hoping to provide some much needed international exposure for the brand.The course is an eight-week series in which students can learn how to calculate and report their taxes using the tax code, pay taxes online, and access tax information.The courses was announced in June last year, and
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An ICO is nothing new, but it seems to have gotten a lot of attention lately.The first ICO was launched in 2015 with the goal of launching a new type of crowdfunding called blockchain-based tokens.Since then, dozens of other ICOs have been launched, and many more are in the works.So far, more than 2,000 ICOs are on track to hit
Read MoreGovernor Phil Scott and House Speaker Nicholas Mattiello on Thursday unveiled the proposed tax reform bill that would replace the New Jersey version of the tax system with a progressive, income tax system.The bill will be voted on by the state legislature on Friday and the House of Representatives by the end of the month.It has been delayed to allow
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The first step is to get an official copy of your taxes, because when you file them, your federal income tax bill is due.Your state tax bill, meanwhile, will take some time to arrive.So what do you do?Get your tax preparer to help.If you don't, you can't get your return prepared.There are a couple of options.First, you could take a
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Indirect taxes are taxes paid directly by a business or individual that is not taxable by income, profits or losses.Indirect tax revenue varies widely depending on the type of business or person, and the number of customers, customers, suppliers, employees and suppliers in the business.Independently managed companies, companies that are controlled by a corporation, partnerships and limited partnerships can usually
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