U.S. closes loopholes to curb corporate tax inversions

Sep 23, 2014

U.S. closes loopholes to curb corporate tax inversions

The U.S. Treasury took action Monday to halt a rising torrent of U.S. companies moving offshore to cut their tax bills, saying the surge in so-called inversions threatened government income. The move to close loopholes that encourage U.S. companies to merge with a foreign ...

Australia repeals maligned two-year-old carbon tax

Jul 17, 2014

Australia repeals maligned two-year-old carbon tax

Australia’s government repealed a much-maligned carbon tax on the nation’s worst greenhouse gas polluters on Thursday, ending years of contention over a measure that became political poison for the lawmakers who imposed it. The Senate voted 39 to 32 to axe the 24.15 Australian ...

California preps for soda tax showdown

Jul 11, 2014

California preps for soda tax showdown

If two of the most progressive U.S. cities don’t pass a tax on sugary drinks, will the idea finally fizzle out? Sugary drinks have been under fire for years, with many blaming them for rising rates of obesity and chronic diseases. Yet efforts to ...

Detroit rolls dice on casino-led comeback

Jun 9, 2014

Detroit rolls dice on casino-led comeback

by Tim Reid and Michael Erman

Detroit’s reliance on casino cash to help fund a recovery from the city’s historic bankruptcy is a high-risk bet on an increasingly shaky source of income. A trial to approve Detroit’s plan to exit its $18 billion bankruptcy, the largest municipal crash in U.S. ...

Jun 9, 2014

EU eyes using vice to boost economies

European governments are turning their attention to prostitution, drugs and contraband as possible ways of boosting their economic growth profiles, as they struggle away from their debt crises. Italy caused a stir when it announced last month that it would begin including revenues from ...

Abe vows to start cutting corporate tax in fiscal 2015

Jun 7, 2014

Abe vows to start cutting corporate tax in fiscal 2015

Prime Minister Shinzo Abe said Friday that the country will start cutting the effective corporate tax rate in fiscal 2015 as part of efforts to encourage foreign investment in the country. Speaking to reporters in Rome, Abe said he has already instructed Takeshi Noda, ...