A managing director of an independent retail business highlights the severe challenges facing small businesses, including rising costs and declining disposable income, mirroring the crisis in the restaurant industry. She calls for urgent government action to prevent widespread closures.
UK ministers are exploring a major reform of the tax system, potentially devolving billions of pounds in business rates to regional mayors. The move aims to give local leaders more control over tax revenue, reward economic growth, and address regional inequality, with proposals expected in the upcoming budget.
Italy's tax system struggles with low fiscal compliance among the self-employed, despite efforts to combat evasion. The UPB highlights inefficiencies in tax collection, particularly for local administrations, and disparities in treatment between different income types. Corporate taxes have increased, especially for banking and insurance sectors, while business incentives are seen as a disorganized complex of measures needing reform.
A new roadmap proposes dismantling poverty by redesigning economic systems, moving beyond GDP growth. It emphasizes human rights, social protection, and collective well-being within planetary boundaries, advocating for debt justice and inclusive policy-making.
The European Commission will urge Italy to adopt a robust industrial strategy, reform its tax system, and strengthen its capital market, according to a document seen by Euronews. The recommendations aim to reduce territorial disparities and boost Italian competitiveness.
Australia's tax system is criticized for rewarding wealth accumulation over work, with the top 1% paying nearly a fifth of personal tax revenue. Reforms to Capital Gains Tax and negative gearing are seen as steps towards fairness, but critics argue they don't go far enough to address growing wealth inequality.
Australia's Labor and Coalition parties are debating tax and immigration policies. Labor proposes returning capital gains tax to pre-1999 inflation adjustment, while the Coalition wants to reinstate income tax indexation. Both policies have significant fiscal implications.
The British premiership is facing unprecedented instability, with frequent PM changes hindering long-term strategy and economic progress. Unlike past periods of churn, current political fragmentation and societal divides make governing exceptionally difficult.
Labor will raise taxes on investment properties and some trust funds, giving the revenue back to workers with a new $250 tax break under reforms it says will "rebalance" the Australian tax system.
Labor will raise taxes on investment properties and some trust funds, giving the revenue back to workers with a new $250 tax break under reforms it says will "rebalance" the Australian tax system.
Labor will raise taxes on investment properties and some trust funds, giving the revenue back to workers with a new $250 tax break under reforms it says will "rebalance" the Australian tax system.
Tax perks that property investors have used for decades to maximise profits and offset their losses will be restricted from tonight, in one of the most significant changes to the tax system in years.
Tax perks that have been used by property investors for decades to maximise profits and offset their losses will be restricted from tonight, in one of the most significant changes to the tax system in years.
Treasurer Jim Chalmers says the tax on offshore gas projects has raised more revenue than expected this year, as he prepares to hand down a budget focused on fixing a "broken" housing market and tax system.
Some entrepreneurs argue any changes to reduce the capital gains tax discount should carve out the start-up sector. However, tax experts warn this would create too much complexity in an already complicated tax system.
Some entrepreneurs argue any changes to reduce the capital gains tax discount should carve out the start-up sector. However, tax experts warn this would create too much complexity in an already complicated tax system.
Mamdani's office said in response to Griffin, "our tax system is fundamentally broken. It rewards extreme wealth while working people are pushed to the brink."
Mamdani's office said in response to Griffin, "our tax system is fundamentally broken. It rewards extreme wealth while working people are pushed to the brink."
The EU and IMF are linking further aid to Ukraine to tax hikes and fiscal reforms. The EU is considering linking €8.4 billion of its €90 billion loan package to business tax reforms, requiring companies under a simplified tax system to pay 20% VAT once turnover exceeds €91,000. The IMF is demanding Ukraine introduce VAT on low-value imported parcels worth under €150, potentially raising $227 million annually. Failure to pass these laws could delay the IMF's June review and jeopardize related EU support.
New York Gov. Kathy Hochul and NYC Mayor Zohran Mamdani announced a proposed 'pied-à-terre' tax on non-primary residential real estate worth over $5 million, expected to raise $500 million annually. However, appraisers and attorneys warn the tax will spark costly legal battles over property valuation, as New York's antiquated property tax system dramatically undervalues co-ops and condos. About 13,000 non-primary homes would be subject to the tax, which still needs state legislature approval.
