Category: taxes
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Dragons’ Den star Peter Jones’ camera chain Jessops faces closure over unpaid taxes
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Jessops, the 89-year-old camera retailer owned by Dragons’ Den star Peter Jones, is on the verge of closure after HMRC issued a winding-up petition for the company over non-payment of taxes. The development marks a critical turning point for the struggling retailer, which has entered administration three times in the…
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Labour Could Cut Taxes by £16bn, Say Economists
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Economists from Capital Economics predict that Labor could benefit from a £16bn spending boost if it wins the next general election, thanks to updated forecasts from the Office for Budget Responsibility (OBR). This potential financial boost is almost double the £8.9bn announced in the March Budget. Rachel Reeves, Labour’s shadow…
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Florida lawmaker pitches ‘Bitcoin for Taxes’ bill
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A Florida lawmaker has introduced a bill that would give the green light to Bitcoin as an approved payment method for federal taxes. On Tuesday, Republican Representative Matt Gaetz proposed a bill that would allow US citizens to settle their federal income tax liabilities using Bitcoin (BTC). Gates said that…
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Florida lawmaker pitches ‘Bitcoin for Taxes’ bill
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A Florida lawmaker has introduced a bill that would give the green light to Bitcoin as an approved payment method for federal taxes. On Tuesday, Republican Representative Matt Gaetz proposed a bill that would allow US citizens to settle their federal income tax liabilities using Bitcoin (BTC). Gates said that…
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How big businesses dodged Sh150 billion in taxes
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The Kenya Revenue Authority (KRA) has failed to collect more than Sh150 billion in taxes, as 3,674 taxpayers, most of them major companies, failed to report business transactions worth nearly half a trillion shillings, exposing the scams used by the companies. To evade taxes. The Auditor-General revealed that in the…
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Finance Bill: MPs drop ‘punitive’ taxes as Kenyans protest
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The National Assembly Finance Committee bowed to pressure from various stakeholders and dropped a number of controversial provisions in the 2024 Finance Bill, even as Kenyans took to the streets in Nairobi on Tuesday morning to protest the proposed laws. This afternoon, the committee is expected to submit its report…
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M-Pesa relief as big car owners hit in Sh347bn new taxes
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The Treasury has removed the Sh100,000 cap on the proposed car tax as it seeks to raise an additional Sh346.7 billion from the new tax measures in the next financial year, even as mobile money users avoid higher toll charges on motor vehicles. the cars. Transactions. In his budget speech…
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New taxes to make banking services unaffordable to most Kenyans
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Banks have warned of higher transaction costs if Parliament approves the proposed value-added tax and increased fees on financial services, arguing that there is a risk of declining gains in financial inclusion and eliminating money laundering. The Kenya Bankers Association (KBA), in its reports to the National Assembly Finance and…
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Anglican Church says new taxes to push more Kenyans into poverty
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Anglican Archbishop of Jackson Ollie Sabet has petitioned Parliament to abolish punitive taxes that directly affect the poor and vulnerable. He told the National Assembly’s Finance and Planning Committee that the proposed taxation would disproportionately affect those with the least ability to pay. Mr. Oli Sabit appealed to the committee…
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IRS says it will refund taxes extracted from Ohioans who got financial assistance after Norfolk Southern derailment disaster
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Most of the people who received money from Norfolk Southern followed last year A fiery train derails In eastern Ohio you won’t have to pay taxes on millions of dollars in aid payments after all. Internal Revenue Service He said Wednesday Most of the payments people living near East Palestine,…
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Kenya’s deep rooted economic problems cannot be fixed by taxes alone
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According to figures recently released by the Kenya National Bureau of Statistics (KNBS), the Kenyan economy in 2023 grew at the fastest rate in 5 years driven largely by a recovery in agriculture and tourism while real wages contracted for the fourth year in a row. Did the state deliberately…
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Airtime, financial transaction levies dethrone ‘sin taxes’ as new KRA excise duty cash cow
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For a long time, the excise tax basket of tax officials was nearly filled with groups of individuals who could barely resist a rush of nicotine or a sip of the suds. Because the excise taxes were mainly taken from cigarettes and alcohol, they were called “sin taxes.” But the…
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Warren Buffett said he could make a 50% return on $1 million and predicted higher taxes. Here are 14 Q&A nuggets.
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Warren Buffett.Rick Wilking – Reuters Warren Buffett’s Q&A at Berkshire’s annual meeting was full of interesting nuggets and anecdotes. He brought up a potential Canadian bet, saying he could make a 50% annual return on $1 million. Buffett predicted higher taxes and revealed a $500 million donation of Berkshire stock.…