Data of the US IRS tax administration on tax revenues to the state treasury in 2018 showed a decline in the share of the American corporate sector to a minimum of 70 years, i.e. since 1960. Of the approximately $3.5 trillion business revenue, only 7.6% of tax revenues were accounted for business. The share of tax revenues from ordinary Americans was 57%. Income taxes on employment amounted to a total of 33%. As a tax refund, businesses in the United States received more than $60 billion from the IRS, due to which the net fee fell to $202.7 billion. Last year, the largest tax reform in the history of the country was launched in the United States at the initiative of President Donald Trump. Its implementation has allowed small US firms to save large sums. In February of this year, the US budget deficit rose to a record high. At the same time, an increase in expenditures and a reduction in revenues to the treasury were recorded.
Japan’s first-quarter business spending came smaller than what was initially estimated, revised data showed on Monday. This underscored a sharper damage that the novel coronavirus pandemic had inflicted on the world’s third-biggest ...
China's diesel exports for June fell by 50% year-on-year, a record low since September 2018 as lockdown measures around the world continued to curb fuel demand. China exported has 1.04 million tons of diesel, compared to the 1.45 million and ...
On Tuesday, Ebay Inc. (EBAY.O) announced that it had reached a deal to sell off its classified ads business unit to Adevinta ASA (AD5B), a Norway-based classified ads publisher owned by Danish media company Schibsted (SBSTA.OL). The classified ...
The second quarter likely saw South Korea’s economy hitting its sharpest downturn in over two decades, a Reuters survey showed on Tuesday. This was mainly from the pandemic dragging the labor market, consumer spending, and global export ...
The Bank of Thailand chief on Monday said that it could take several years for the country’s foreign tourism industry to recover as the economy continues to take a beating from the COVID-19 pandemic. The central bank expects foreign ...