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First U.S. tax filings under Trump's overhaul off to slow start

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WASHINGTON The first U.S. tax filing season under the overhaul that President Donald Trump signed into law at the end of 2017 got off to a slow start in the first week, with data released on Friday showing a significant drop in returns and refunds.

Credit Suisse warns of higher tax rate under new U.S. rules

ZURICH Credit Suisse expects a higher tax rate for 2018 than previously forecast, it said on Wednesday, citing U.S. tax changes aimed at preventing companies from shifting profits abroad.

Feb 06 2019

China unveils tax cuts for graduates, low-income workers in stimulus drive

BEIJING China will introduce tax breaks for small businesses run by recent graduates and low-income workers, according to a joint ministry announcement, as the country looks to boost spending and offset an economic slowdown.

Feb 03 2019

Pennsylvania governor seeks natural gas tax to raise $4.5 billion

Pennsylvania Governor Tom Wolf on Thursday proposed a tax on extracting natural gas to pay for his plan to spend $4.5 billion over the next four years to improve the state's infrastructure.

Jan 31 2019

Indonesia president renews pledge to cut corporate taxes if re-elected

JAKARTA Indonesia's President Joko Widodo has renewed a pledge to cut corporate tax rates in Southeast Asia's biggest economy if he is re-elected in April, an economic adviser said on Thursday, following a similar promise by his election opponent.

Jan 31 2019

OECD working on plans for minimum corporate tax

PARIS The Organisation for Economic Cooperation and Development is working on plans for a minimum corporate tax rate as part of a global revision of tax rules for the digital era, it said on Tuesday.

Jan 29 2019

Thousands of tax workers did not show up for work as shutdown continues: Washington Post

WASHINGTON Thousands of Internal Revenue Source employees ordered to return to their jobs unpaid in order to handle the tax filing season are not showing up to work, the Washington Post reported on Friday, citing House of Representatives aides, as the partial federal government shutdown ground on in its 35th day.

Jan 25 2019

Watchdog questions UK's oil decommissioning tax relief estimate

LONDON Britain's public spending watchdog on Friday questioned a government estimate of 24 billion pounds ($31 billion) as the cost of tax relief to decommission oil and gas infrastructure.

Jan 24 2019

Fears of tax chaos loom as IRS readies for filing season

WASHINGTON The U.S. Internal Revenue Service is due to start sifting through an avalanche of annual tax returns on Monday, with a workforce hard-pressed by the partial government shutdown and Congress uncertain how to avoid chaos for taxpayers.

Jan 24 2019

EU sues Britain over tax waivers for commodity markets

BRUSSELS The European Commission said on Thursday it was suing Britain over tax exemptions the country grants to some commodity markets, waivers that Brussels considers in breach of European Union rules.

Jan 24 2019

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