Japanese lawmakers have approved a controversial tax hike plan to help curb growing public debt, despite a rebellion by some in Prime Minister Yoshihiko Noda’s ruling party. The plan to double the sales tax to 10 percent over three years easily cleared Japan’s lower house of parliament Tuesday. But public broadcaster NHK reported that 57 […]
Japan’s Ruling Party Split as Lawmakers Approve Controversial Tax Hike
Posted June 26th, 2012 at 4:05 am (UTC-5)
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US Now Has World’s Highest Corporate Tax Rate
Posted April 2nd, 2012 at 2:10 pm (UTC-5)
The United States, with the world’s-largest economy, now has claimed the dubious distinction of having the industrialized world’s highest corporate tax rate. Japan dropped its corporate tax rate slightly on Sunday, to just more than 38 percent. That moved the United States to the top spot, with a 39.2 percent rate. The U.S. has maintained […]
Commercial Tax Evasion Robs African Economies
Posted March 23rd, 2012 at 3:45 am (UTC-5)
A U.S.-based advocacy group says the amount of money that has left Africa illegally since 1979 is twice the amount that has come in from aid. Global Financial Integrity director Raymond Baker told VOA his group believes most of the illegal funds are the result of tax evasion — not bribes and embezzlement. “Globally we […]
US Accuses 2 Swiss Financial Advisers of Tax Fraud
Posted March 14th, 2012 at 1:25 pm (UTC-5)
The U.S. is accusing two Swiss financial advisers of assisting wealthy Americans to hide more than $260 million in overseas bank accounts to avoid taxation. U.S. prosecutors on Wednesday alleged that the advisers, Hans Thomann and Josef Beck, working independently of each other, acted as “full service tax evasion advisers.” The prosecutors accused Beck of […]
Obama Signs Payroll Tax Cut Extension Bill
Posted February 23rd, 2012 at 7:15 am (UTC-5)
U.S. President Barack Obama has signed a measure that extends a payroll tax cut for 160 million American workers through the rest of the year. The bill signed by Mr. Obama in the Oval Office Wednesday continues a 2 percent reduction in the tax on wages and salaries that funds the Social Security retirement program. […]
US Congress Passes Payroll Tax Extension
Posted February 17th, 2012 at 12:40 pm (UTC-5)
The U.S. Congress has passed a bill renewing a payroll tax cut for 160 million workers and long-term unemployment benefits for many others. The House of Representatives and the Senate passed the measure swiftly on Friday and sent it to President Barack Obama to sign into law. The measure extends the tax cut and benefits […]
US Congress Reach Deal on Payroll Tax Cut
Posted February 16th, 2012 at 4:00 am (UTC-5)
A bipartisan group of U.S. lawmakers has reached an agreement on legislation to extend a payroll tax cut and unemployment benefits through the end of 2012. Democratic Senator Max Baucus announced the deal late Wednesday after a long day of negotiations between House and Senate members. The measure is expected to be voted on later […]
US Congress Nears Final Deal on Payroll Tax Cut
Posted February 15th, 2012 at 2:00 am (UTC-5)
U.S. lawmakers have reached a tentative agreement to extend a payroll tax cut and unemployment benefits through the end of 2012. A bipartisan negotiating panel of House and Senate lawmakers struck a deal Tuesday that would maintain a cut of about $20 per week from the payroll taxes of 160 million U.S. workers. The tax […]
US Congress Nears Final Deal on Payroll Tax Cut
Posted February 15th, 2012 at 12:35 am (UTC-5)
U.S. lawmakers have reached a tentative agreement to extend a payroll tax cut and unemployment benefits through the end of 2012. A bipartisan negotiating panel of House and Senate lawmakers struck a deal Wednesday that would maintain a cut of about $20 per week from the payroll taxes of 160 million U.S. workers. The tax […]
Obama: ‘Hopeful Signs’ of Payroll Tax Cut Deal
Posted February 14th, 2012 at 12:55 pm (UTC-5)
U.S. President Barack Obama says there are “hopeful signs” that Congress will agree on extending a payroll tax cut and unemployment insurance, but warned nothing is sure until he signs the measure into law. In Washington Tuesday, President Obama said the country is still fighting its way back from the economic crisis, and there remains […]
