US President Barack Obama will cut taxes for middle-income earners by $1.8
trillion (£1.2 trillion) by extending cuts made in 2001 and 2003 to those on
under $250,000 a year.
Obama’s budget, recently approved by Congress, also expands the Earned Income
Tax Credit for American families with three or more children. It seeks to
tighten up the US tax code for corporations which invest overseas.
Earlier, the Treasury Department released tax reform proposals to tighten up
rules that allow multinationals to deduct foreign investment expenses in the US
before paying taxes on foreign profits. Obama also intends to tighten up foreign
tax credit rules.
Does Darwin's theory apply to taxation? Colin ponders...
The UK tax gap fell in 2014-15 to its lowest-ever level of 6.5%, revealed official statistics published today
"The whole idea of HMRC officials supplying confidential information about individuals to the media on a non-attributable basis is, or should be, a matter of serious concern," say Supreme Court judges
Changes to the tax system is urged to support the growth of entrepreneurs, found a report from the Grant Thornton UK, the Institute of Directors, and the Prelude Group