Discover and read the best of Twitter Threads about #tax

Most recents (24)

@MayorAdler does not listen to the science - he creates it.

On 6/22/20, @MayorAdler AGAIN lied to Austin, instilled more fear & CREATED DATA to continue lockdowns. How many jobs did he steal from us?

Read the damning emails provided by @johnnyk20001

.@MayorAdler, @GregCasar and #tax council MUST BE investigated over their handling of coronavirus, their mask and lockdown mandates based on data they created - everything.

We must demand it.

@GovAbbott @TXAG @TXsecofstate @RonnyJackson4TX
And despite having the science and doctor recommendations, @MayorAdler @GregCasarand #atxcouncil spent $1.3 MILLION of our dollars on a field hospital that WAS NEVER USED.
Read 4 tweets

A key understanding of the tax structure, which operates in Nigeria is quite important to ensure tax compliance.

What are the taxes applicable to startups in Nigeria?


CIT is the tax paid on the profits of companies in Nigeria. CIT is paid by on profit derived, received, accrued or brought into Nigeria. The Finance Act introduced a tiered approach to CIT...
...The tax rate of 0% applies to companies that have an annual turnover of below N25m, 20% applies to companies that have an annual turnover of more than N25m and less than N100m and 30% applies to companies with an annual turnover of N100m and above.
Read 18 tweets
1. News: “I want money going to the people”: President Trump Slams Pelosi, Schumer for Pushing Bailouts for “Poorly Run” Democrat Cities in their Latest Stimulus Plan - Thread 8.8.20… #Trump #ExecutiveOrder #Relief #Stimulus
2. News: Video: Joe Biden Calls for Citizenship for “11 Million Undocumented Aliens.. uh..uh..”…They “Enrich” Our Communities… ”Essential to Our Economic Strength”… #Biden #Illegals
3. News: CNN’s Jim Acosta Gets Smoked After He Whines About President Trump’s “Rally” aka "Peaceful Protest" at the President’s NJ Country Club… #Trump #Acosta #PeacefulProtest
Read 54 tweets
"...a growing share of “high-end” donations never ends up in organizations that do any kind of altruistic work. Rather, they go to tax-privileged private foundations designed to serve as #tax shelters for the very #wealthy..."
by @hijodelcuervo… #BillGates
#Microsoft has swooped in to hoover up #TikTok after it received “personal assurances” from the president himself that he would back such a move.
by @AlanRMacLeod… #Trump #BillGates
"The coalition of companies that form part of the “broad coalition” include tech giants like #Facebook and #Microsoft, transnational behemoths like #Philips, as well as U.S. #pharmaceutical retail chain #CVS #Health."
by @hijodelcuervo… #BillGates #corona
Read 4 tweets
#Thread #Tax #1 You need to pay tax: you have no choice. For normal people, there are 3 main different types of tax that you need to keep in mind:
1. Income tax
2. CGT - Capital gains tax
3. Dividends tax.
#2 Income tax is any income that you make. You can deduct certain things from this, like e.g. if you work online like emails and coding, then you can deduct costs such as your laptop, internet etc from your income.
#3 Capital Gains Tax (CGT) - This is paid when you sell an investment that you've kept for a few years.
Read 6 tweets
Earthquake in international #tax world with US pulling out or pausing the #OECD negotiations aka #BEPS2.

A quick personal take in this thread. #Oxfam reaction will come in the next hours.

What does this mean for the EU? Is the USA all bad?

Let's recall this process started with a high amount of ambition in January 2019 with buy-in from the USA. Actually the USA was the one opening up the discussion with its own tax reform. Let's also remember there are 2 pillars.

Pillar 1 = digital economy. Pillar 2 = minimum tax.
The pulling out of the US or the ask to pause the negotiations seems to only hit pillar 1.

Pillar 1 divided countries from the very start. Some countries wanted a very limited focus (only techgiants) and others wanted to broaden the scope.

Actually the USA wanted a broad scope.
Read 14 tweets
I got a lot of questions recently on #tax policy developments in the #Netherlands. So here is a thread!

A lot has happened in the past 2 months. I will try to give a complete overview with implications and consequences for one of the largest #taxhavens in the world.

Enjoy! 👇🇳🇱
First a general comment.

Over the past weeks the Netherlands has been extensively portrayed as a harmful tax haven in the EU, especially by southern European countries.

Many numbers circulate about the Netherlands but sums it up pretty well.
Several reports have been published in the NL in the past 2 months:

(1) The long-awaited report of an independent commission (known as Adviescommissie ter Haar) on how the NL should reform its laws to make multinationals pay their fair share. 👉…
Read 17 tweets
Daily Bookmarks to GAVNet 6/11/2020-2…

China Could Force Donald Trump And The Fed To Destroy The U.S. Banking System…

#china #digital #banking #trump
Stephanie Kelton: MMT Simply Describes Monetary Reality In The US – Heisenberg Report…

Erosion of the Himalayas governed by tectonic movements, limiting climate change impacts on landscape formation…

#landscape #Himalayas #ClimateChange #erosion
Read 5 tweets
BUSINESS EXCELARATOR PROGRAM is a unique program for entrepreneurs to provide practical strategies to identify growth opportunities & overcome current challenges.…

Questions that will be answered in this program:
Question #1: Have you defined department-wise Key Performance Indicators (KPIs) based on specific goals & targets to measure whether your business objectives are achieved?

#performance #business #program #covidsolution #covid19 #msme #AtmaNirbharBharat #lockdown
Question #2: Do you get the Key Performance Indicators (KPIs) of your company as a Business Summary Dashboard on a daily basis to monitor & measure the progress of your company?

#business #program #covidsolution #covid19 #msme #AtmaNirbharBharat #Lockdown5 #startups
Read 24 tweets
Why Hong Kong is important for China !! See the statistics for yourself !!
1530 multinationals have their regional headquarters in Hong Kong according to the Hong Kong government (InvestHK, 2019). This is an increase of two-thirds since 1997.
In 2018, United States- based companies had the largest number of regional headquarters (290) and regional offices (434) in Hong Kong, followed by Japanese and Mainland Chinese firms (Census and Statistics Department, 2018b).
Read 19 tweets
Heads Up, Californians

California’s #DeepState Attorney General @XavierBecerra has been successful in clearing the way for a November 2020 ballot initiative that would repeal 1978’s #Prop13 for commercial properties.
This is a so-call “split-roll” initiative that would #tax commercial and industrial properties at current fair-market value rather than the purchase price. An estimate $11 billion in annual proceeds would be distributed about 40% to local schools and 60% to local governments.
Groups backing the California Schools and Local Communities Funding Act include the League of Women Voters @cavotes and the Alliance of Californians for Community Empowerment @CalOrganize as well as some prominent state and local teachers’ unions.
Read 4 tweets
This thread is about understanding Lebanon’s #budget in few questions.
Another thread will explain #Citizen_Budget 2020.
@OpenBudgets 👇
What is the #Budget?
Article 3 of the "Public Accounting Law" defines #budget as “a legislative instrument in which national #revenues & #expenditures are estimated for the upcoming year & by which #tax collection & spending are allowed”.
State #budgets have evolved to become a tool of #foresight, #planning and #accountability based on programs and #performance assessments.
Read 13 tweets
Only an insecure citizen will vilify a period of history, as rich and complex as #Mughal rule.

This demonstrates a vacuum of confidence and an inherent inadequacy in their own ability, to accept or understand the dynamics that created modern #India.

A #thread on the #Mughals:
1. The #Mughals, as they are erroneously called, were descended from Temur (aka Tamberlane, Tamerlane), in a direct patrilineal line and from Chengiz Khan in a direct matrilineal line.

They identified themselves with their Timurid heritage.
2. Babur, like all Mughals felt a legitimate claim on Hindustan after its conquest in 1398-99, by Temür, which effectively ended the already tottering Tughlaq Sultanate, following the fall of Delhi.
Not until 1451 and the rise of the Lodis (under Bahlul Khan), did Delhi recover.
Read 30 tweets
When Francis #Fukuyama, in his 1992 book, disclosed the "end of history" #thesis, he became a world celebrity.

The formulation was simple, but devastating for the left: faced with the evidence of the disappearance of the #SovietUnion, he could affirm that #communism had failed..
and that #capitalism emerged victorious as the only system that guaranteed #peace, #freedom & #equality.

However, in 2010 Fukuyama acknowledged that he had not understood the meaning of the disappearance of the Soviet Union and the #European socialist bloc.
Fukuyama had believed in the drunkard #Yeltsin (the face of the gravedigger & #thief who prevailed with blood & fire, supported by the #West, with the coup d'etat in #Moscow in 1993) and in the capacity of liberalism to satisfy human needs and, In addition, in 1992, ...
Read 14 tweets
The global discussion around debt relief for low-income and fragile countries during #COVID19 is gathering momentum. There are various dimensions to the current debt situation, especially for #Africa. Here’s a short thread for those interested to follow the discussions 1/n
The World Bank and IMF recently issued a joint call to the G20 for temporary suspension of debt service payments by IDA countries (low-income and fragile countries) to help provide liquidity in these countries to tackle #COVID19 2/n…
A group of high-profile Africans (incl. Okonjo-Iweala, Thiam, Songwe) are calling for debt relief for African countries. Specifically, they are calling for a "two-year standstill on all external debt repayments, both interest & principal." 3/n…
Read 28 tweets
1) On Friday @IRSnews issued NEW #FAQs resolving whether an employer that receives a #PPP #Loan may defer Employer portion of #socialSecurityTaxes under #CARESAct…
2) Employers receiving #PPPloans may not defer the deposit&payment of the Employer share of #SocialSecurity tax "otherwise due AFTER the employer receives a decision from the lender that the loan was forgiven." #IRSFAQ #1
3) The deferral applies to deposits&payments of an Employer's share of #SocialSecurity #tax that would otherwise be required to be made during the "Payroll Tax Deferral Period" (March 27 through December 31, 2020). #CARES #Section2302 @IRSnews #FAQ 2
Read 9 tweets
Deciphering the #Serraj vs #Kabir squabble.

1 must go back to May-Oct 2018, when both #UN & #US began exerting a pressure on the #CBL in #Tripoli.

At the time, an #LNA attack on the capital wasn't seen as imminent, nor was a #Hibri-#Kabir reunification considered a hot priority
Following #Haftar's Jun '18 #OilCresc blockade, #US (thru the #UN) helped #CBL devise a measure, which was implemented after the Aug-Sep '18 LoC battle in Tripoli.

An LoC #tax now made the de-facto conversion rate 3.9 dinars to 1 $.

$10k packages were introduced for households.
The #US-designed measure—rolled out by #Kabir in Oct ’18—was effectively a devaluation of the dinar w/ the added benefit of attracting banknotes back into the system.

The measure turned out to be a success.

It also reduced the amount of political controversy surrounding #Kabir
Read 13 tweets
So… some personal news.

After almost four and a half happy years running the European Commission’s Directorate-General for #taxation and #customs, I’ll be moving on to new pastures on 1 May.

Before I go, here are some reflections on the past few years. THREAD (a long one!)
Honestly, it’s been a blast. I’ve had the privilege of leading a truly great team of people in @EU_Taxud. Great expertise, highly committed professionals, and a real family atmosphere, too. A million thanks, #teamTAXUD /2
We have worked very hard on getting the #content right - delivering real progress on both #tax and #customs policy. And on delivering great #digital solutions, too. /3
Read 26 tweets
@KsapaOrg @FBaddache#Tax evasion
✅ Ruled using #bilateral investment treaties
#Data collection, usage, sharing

the 3 key themes in @KsapaOrg's approach to #BizHumanRights being highlighted by @FBaddache

#webinar #HumanRights #duediligence #engagement #HRDD #BigData #cybersecurity #UNGPs
@KsapaOrg @FBaddache three areas directly impacting #business in respect to #humanrights:

1. comply w/ mandatory transparency & #HRDD - in operations, joint ventures & #supplychains

#webinar #BizHumanRights #engagement @UKAntiSlavery @ModSlaveryReg @pcarrier26 @InvestForRights @FinComSlavery
Read 13 tweets
Not to root for state or CB intervention, with #coronavirus, its inevitability must be faced. So how to make it the least damaging and not allow it to become entrenched in the system and lead to another decade of distortion & waste like post-#GFC? 1/x
Problem is to try to avoid the failure of otw viable firms because of disruptions due to the global health emergency - & also to spare their employees from ruin. Flooding money into financial markets is NOT the answer, #JayPowell! Blind fiscal expansion, neither, #DonaldTrump 2/x
Here's the kernel of an idea. Finmarkets are desperate for 'safe assets'. nominal yields are trifling; real ones negative. S-o-o, launch a special series of #Treasury bonds to sate the market's hunger & halt the potentially disastrous collapse in yields. 3/x
Read 11 tweets
On @infomorning today, I shared (in 8 minutes!) some results of the pathbreaking research we've done on the history of Nova Scotia's King's College connections to the enslavement of African people. Here's a taste:

History thread!

#UVADeanKvD @ukings
First, we made sure the basics were covered: slavery was practiced in Nova Scotia. The trade was abolished by a British statute in 1807, and enslaved people were emancipated by an 1833 British statute. Read HA Whitfield's great book on the subject (North to Bondage).
Then I went on to new facts discovered and new significance established of well-known facts (the historians involved were me, Smardz-Frost, States, and Roper. Here’s a link to the research:…
Read 10 tweets
Direct tax proposes a new optional #tax regime optional for taxpayers.
Under the new tax regime – tax rates are as follows
Up to 5 lakhs – 0%
5 lakhs to 7.5 Lakhs – 10%
7.5 Lakhs to 10 Lakhs – 15%
10 Lakhs – 12.5 Lakhs – 20%
12.5 Lakhs to 15 Lakhs – 25%
More than 15 Lakhs – 30%
DDT has been removed. #DDT will be taxed in the hands of individuals at their slab rate. With DDT scrapping, govt lets go of Rs 25,000 crore revenue.
Audit Turnover threshold has been increased from Rs. 1 crore to Rs. 5 crores. #Budget2020
Read 10 tweets
When someone says the word #SIP, most of us associate it with equity #mutualfunds. But did you know that SIPs are possible in the fixed income asset class as well?
#Debt SIPs can be one of the most useful ways to meet your short term goals, recurring goals, and asset allocation needs.
SIPs in #debtfunds can be used to meet yearly school fees, build an emergency reserve, your annual vacation, regular recurring expenses, working capital, etc.
Read 8 tweets

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