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#US businesses are stock piling & predicting increases to #consumer #prices in preparation for #Trump’s #tariffs.

Trump’s election is already cascading through global #SupplyChains, where companies are grappling w/his vision for international #trade & huge tariffs on foreign products. Trump has floated a 10-20% #tax on most foreign products, & a 60% #tariff on goods from China—that would raise the surcharge American importers pay to a level not seen in generations.

https://www.nytimes.com/2024/11/08/us/politics/trump-tariffs-china.html?smid=nytcore-ios-share&referringSource=articleShare


It looks like one winner from the Rachel Reeves increase in employers NI will be the utilisation of salary sacrifice schemes (to feed into pensions & pay for other 'benefits') as a way of lessening the exposure to the increased tax rate.

If this encourages more early career workers to contribute to a pension, then that would start to address one often noted 'problem' in the UK; low take up on pension provision among the under 40s.

Perhaps Reeves even planned this knock-on effect?

#tax
h/t FT
#tax


#Qantas, #Virgin, #Netflix and #Canva among 1,200 major companies that paid no income #tax in #Australia in 2022-23. ATO finds 31% of large #businesses reported nil tax paid as many companies deducted losses and used #offsets to dial their bills down to #zero: https://www.theguardian.com/australia-news/2024/nov/01/australia-companies-no-income-tax-2022-23-ato-report


The Pro Codes Act would allow for portions of the law to be copyrighted. This is bad and should be opposed.

SDOs like the Financial Accounting Standards Board (FASB) play a critical role in crafting standards, such as GAAP, which are frequently incorporated into statutory and regulatory frameworks.

The Act seeks to allow SDOs to retain copyright over their standards. This would create a major access to justice issue.

#lawfedi #taxfedi #tax @law @eff @CenDemTech

https://www.forbes.com/sites/andrewleahey/2024/07/26/a-threat-to-justice-the-pro-codes-act-would-copyright-the-law/


#FTC orders #Intuit to stop pushing "free" software that isn't really free
#ConsumerProtection #watchdog's investigated how Intuit promoted its #tax preparation software #TurboTax as being a "free" including deceptive #ads shown during Super Bowl and the 2022 NCAA Basketball Tournament.
However, the ads were misleading as millions of Americans couldn't use Turbotax to file their taxes for free over the years, finding that it was all just a waste of time https://www.bleepingcomputer.com/news/technology/ftc-orders-intuit-to-stop-pushing-free-software-that-isnt-really-free/


Tax on Wall Street Speculation


Congresswoman Barbara Lee and Senator Bernie Sanders Introduce #Tax on #WallStreet #Speculation








"Since 1985, Wall Street bonuses have surged by 1165%. It is past time for Wall Street to pay society back for the incredible damage it did in 2008—and continues to do. The Tax on Wall Street Speculation Act would enact a financial transaction tax of 0.5% on the trading of equities, 0.1% tax on the trading of bonds and 0.005% on the trading of derivatives. Economic analysis has estimated that it would raise $220 billion per year."

https://lee.house.gov/news/press-releases/congresswoman-barbara-lee-and-senator-bernie-sanders-introduce-tax-on-wall-street-speculation-act-of-2023