Tax

Trump, GOP roll out tax plan; cuts rates, doubles deduction

WASHINGTON President Donald Trump and congressional Republicans are rolling out a sweeping plan to cut taxes for individuals and corporations, simplify the tax system, and likely double the standard deduction used by most Americans. Months in the making, the plan meets a political imperative for Republicans to deliver an overhaul of the U.S. tax code after the failure of the ...

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Republicans to unveil broad tax cuts, put off tough decisions

President Donald Trump and top Republicans on Wednesday will unveil a proposal to cut personal and corporate taxes by at least $5 trillion over 10 years, people familiar with the matter said, promising to recoup more than half of the lost revenue by eliminating numerous unspecified tax breaks and deductions. The blueprint, which party leaders are set to release and ...

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India’s Goods-and-Services Tax Is All Tangled Up

India’s new indirect tax system, which for the first time tries to standardize most taxes across this vast country’s many states, is proving to be even more difficult and disruptive to implement than first feared. That speaks to the unnecessary complexity the government’s introduced into what should have been the simplest of laws. QuickTake India’s Aspirations Here’s what the goods-and-services ...

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Nova Scotia in tax fight with federal government over lottery terminals on reserves

Nova Scotia and the federal government are battling in court over $50-million in potential tax revenues from video lottery terminals operated on First Nations. In an appeal filed last November, the Nova Scotia government is challenging the Canada Revenue Agency’s assertion that the province owes Ottawa more than $29 million in harmonized sales tax on revenue generated by those VLTs ...

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Trump tax plan would raise lowest, bottom tax rate from 10% to 12%

Donald Trump. REUTERS The most fleshed-out version of the Republican tax plan is expected on Wednesday, with clearer details on proposed changes in tax rates for corporations and individuals. While President Donald Trump has called the plan the “biggest tax cut in history,” early indications suggest that, at least on the surface, rates could increase for one group. According to ...

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The Finance 202: Trump and tax negotiators still don’t seem to be on same page

THE TICKER President Donald Trump turns his back to the crowd during his speech at a rally for Sen. Luther Strange in Huntsville, Alabama on Friday. (Reuters/Marvin Gentry) President Trump on Sunday evening told reporters that his administration has “totally finalized” its tax plan.  It hasn’t.  On Monday — two days before Trump will deliver a major speech on the proposal and ...

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GOP, White House prepare to roll out tax cuts

Marcy Gordon and Ken Thomas, Associated Press Updated 2:15 am, Tuesday, September 26, 2017 Photo: Brynn Anderson, AP In this Sept. 22, 2017, photo President Donald Trump speaks at a campaign rally in Huntsville, Ala. Trump says he wants to lure Democratic lawmakers to sign on to a Republican-crafted tax overhaul plan. But negotiators must grapple with the reality that any ...

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47 cars in Dundee clamped as drivers break the law over tax

Dozens of vehicles in Dundee were clamped by the Government in just a week after their owners failed to pay tax. The DVLA carried out enforcement action throughout the city in areas including Charleston, targeting drivers who it claims have broken the law. As a result, 47 vehicles were left with their wheels clamped and a notice on the window ...

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Sales tax increase considered in wake of Foxconn | Local News

RACINE COUNTY — County officials remained mum Monday on a potential sales tax increase that could be enacted should Racine County be chosen as the site for the Foxconn plant.  The Foxconn bill, which was signed by Gov. Scott Walker on Sept. 18 in Sturtevant, contains verbiage granting the county that lands Foxconn the ability to pass an ordinance increasing the ...

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Saskatoon Chamber of Commerce wants apology from feds over tax changes

The Greater Saskatoon Chamber of Commerce’s chief executive wants federal finance minister Bill Morneau to apologize for comments about its proposed tax changes that “offended and disgusted” the city’s small businesses. “When you call businesses who are operating legally under tax system in place in your country ‘tax cheats,’ when you tell them that they’re cheating the system and they’re ...

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