The U.K. government is to introduce a new levy on foreign homebuyers, raising concerns that this could put the brakes on London's property market.» Read More
CHICAGO-- Illinois took a giant step toward fixing its biggest financial problem Thursday by putting a sweeping pension reform on the books, but legislators' inaction on tax incentives aimed at keeping companies and creating new jobs has triggered fresh concerns about the state's business climate.
JUNEAU, Alaska-- Alaska is expecting nearly $2 billion less in oil and gas production taxes this year, which Revenue officials say has more to do with lower-than-expected oil prices and declining production than with the new oil tax law.
*Finance minister seeks to slow London property rises. *London prices soaring, forcing locals out of the market. LONDON, Dec 5- Britain will impose a capital gains tax on foreign property investors from 2015 in a bid to allay fears that wealthy foreign buyers are inflating a London- led property bubble which is pricing locals out of the market.
BOSTON-- The Massachusetts income tax will drop slightly in the new year _ to 5.20 percent from the current 5.25 percent _ because of stronger-than-anticipated growth in revenues, state officials said Wednesday. The tax rate will automatically drop on Jan. 1, Revenue Commissioner Amy Pitter said.
SYDNEY, Dec 5- Australia has sealed a free trade agreement with South Korea that will eliminate tariffs of up to 300 percent on Australia's major exports, notably agricultural products and resources, Prime Minister Tony Abbott said on Thursday.
CONCORD, N.H.-- New Hampshire's tax collections are $23 million above estimates so far this fiscal year despite falling slightly below projections in November. The state took in almost $149 million in November, which is $1.6 million less than anticipated.
HAKODATE, Japan, Dec 4- Bank of Japan board member Takehiro Sato said he saw no need to expand monetary stimulus pre-emptively to counter the pain to the economy from next year's sales tax hike, seeking to dispel speculation of a near-term expansion of its ultra-easy policy.
In an audit, the Treasury Inspector General for Tax Administration, said two new IRS systems to catch tax refund fraud are under development. In response to the TIGTA findings, White House spokesman Jay Carney said on Tuesday: "The IRS aggressively safeguards our information systems and combats tax fraud.
AUGUSTA, Maine-- A panel that's been tasked with finding savings in Maine's tax code laid out its preliminary recommendations on Monday for scaling back tax incentive programs for businesses, historic building restoration projects and student loan repayment.
JUNEAU, Alaska-- The state has released regulations to implement Alaska's oil tax law, including use of metering to help determine what oil qualifies for special tax breaks.
VICTORIA, Dec 2- Seychelles rejected charges on Monday that it was one of the world's five most secretive tax havens for the super rich, saying the Indian Ocean archipelago had nothing to hide.
WASHINGTON, Dec 2- The U.S. Supreme Court declined on Monday to tackle the long-standing question of whether Internet retailers like Amazon.com Inc should be required to collect sales taxes in states where they have no physical presence.
WASHINGTON, Dec 2- The U.S. Supreme Court on Monday sent a $470 million tax dispute between Ford Motor Co and the Internal Revenue Service back to a lower court for further review. Ford was denied a $470 million interest payment by a Michigan district court in 2010. The U.S. appeals court ruled against Ford in December 2012.
The Reforma survey of 1,020 people showed that while 48 percent disapproved of Pena Nieto's job performance, up from 30 percent in April, just 44 percent approved.
WASHINGTON, Nov 29- The United States has signed agreements with the Cayman Islands and Costa Rica to help those countries' banks comply with an anti-tax evasion law starting next year, the Treasury Department said on Friday. The FATCA agreement with the Cayman Islands was initially agreed to in August.
BOLOGNA, Italy Nov 28- Raoul Weil, a former UBS banker charged by U.S. authorities five years ago for allegedly helping rich Americans dodge taxes via secret Swiss bank accounts, has agreed to go to the United States to face trial after being arrested in Italy, Weil's lawyer and judicial sources told Reuters.
*Discount cuts estimated $19.4 bln obligation by 50 pct. RIO DE JANEIRO, Nov 27- Brazilian miner Vale SA said on Wednesday that it agreed to pay 22.325 billion reais in taxes on profit from overseas operations, accepting an offer from Brazil's government that cuts a disputed back-tax bill in half.
Will a potential tax hike on the rich drive millionaires out of their home states? Probably not. CNBC's Robert Frank reports.
ALBANY, N.Y.-- New York Gov. Andrew Cuomo is promising to use a rare budget surplus to cut local property taxes during the coming election year, but he won't touch temporary tax increases he's extended twice.
A new poll showed Gov. Andrew Cuomo may have the support he needs to approve Bill de Blasio's proposed tax increase on the city's wealthy.