Corporation tax cut plea to Northern Ireland politicians BelfastTelegraph.co.uk A body representing accountants has urged politicians engaged in talks to remember that a cut to Northern Ireland's corporation tax to help the economy is within reach. https://www.belfasttelegraph.co.uk/business/northern-ireland/corporation-tax-cut-plea-to-northern-ireland-politicians-38096573.html https://www.belfasttelegraph.co.uk/incoming/article38098226.ece/4f23b/AUTOCROP/h342/age_2_pic_story%202.jpg Email A body representing accountants has urged politicians engaged in talks to remember that a cut to Northern Ireland's corporation tax to help the economy is within reach. The 2015 Fresh Start Agreement provided for the devolution of corporation tax, allowing a cut to 12.5%, with the power to be devolved in April last year. But the legislation requires an Executive to be in place and a demonstration that the finances of Northern Ireland are on a firm footing. Richard Gillan, chairman of the … [Read more...] about Corporation tax cut plea to Northern Ireland politicians
Corporate tax cuts
A refund check connected to the federal corporate tax cut is still not in the mail to Xcel Energy customers — and it won't be until at least May. In August, state utility regulators ordered that Xcel's $138 million windfall from 2017's big corporate tax cut be passed on to its ratepayers. At the time, Xcel said it expected the refunds to be issued by the end of 2018. Minneapolis-based Xcel, by far Minnesota's largest electric utility, said the delay stems from the state's regulatory procedure. "We're working through the Public Utilities Commission process and expect our plan to provide one-time refunds and monthly bill credits to customers will happen later this year," the company said in a statement. Utilities are usually monopolies, so their profits are regulated. Minnesota is one of many states where regulators have ordered utilities to fully or partly refund gains realized from the federal tax cut, which slashed the U.S. corporate income tax rate from 35 percent to 21 … [Read more...] about Refunds associated with Xcel’s federal tax cut won’t be issued until spring
President Donald Trump said tax cuts would be the “rocket fuel our economy needs to soar higher than ever before.” A little over one year after the Tax Cuts and Jobs Act was signed into law, that expectation hasn’t panned out, a new Bank of America Merrill Lynch analysis has found. One reason for this is growth expectations are a bigger driver of capital expenditures than the actual cost of capital – which tax cuts theoretically lowered. The analysis of the disconnect between what Republican lawmakers expected and what has transpired comes amid the longest government shutdown on record and calls for slowing growth. “The investment boom that wasn’t.” That’s how Bank of America Merrill Lynch economists categorized what’s happened in the US economy since the Tax Cuts and Jobs Act was passed a little over a year ago. What was theoretically supposed to be a boon for US companies – and by extension, the broader economy … [Read more...] about Trump said tax cuts would be ‘rocket fuel’ for the US economy. Here’s why they weren’t.
MADISON, Wis. — The Latest on Republican tax cut proposal (all times local): 10:40 a.m. Wisconsin Assembly Republicans are proposing a 10 percent income tax cut similar to what Democratic Gov. Tony Evers says he wants. Republicans unveiled their plan Thursday. Evers campaigned on paying for an income tax cut by reducing a corporate tax cut program by about $340 million. But Republicans don't want to do that. Instead, they would pay for it using a budget surplus. Assembly Speaker Robin Vos says the plan keeps Evers' campaign promise without jeopardizing the Manufacturing and Agriculture Credit program Republicans enacted under former Gov. Scott Walker. ___ 8:34 a.m. Wisconsin Assembly Republicans say they have a plan to help middle class families. The move Thursday comes while Republican leaders squabble publicly with Democratic Gov. Tony Evers over, of all things, when they can find time to meet. Both sides are jockeying for position and attempting to get the political upper-hand … [Read more...] about The Latest: Republicans propose income tax cut
SHANGHAI (Reuters) - China’s plans for tax cuts targeting smaller companies will help to support employment and economic stability, and will expand the country’s tax base over the long term, Premier Li Keqiang was quoted as saying on Saturday. China's Premier Li Keqiang attends a meeting with Ecuadorean President Lenin Moreno at the Great Hall of the People in Beijing, China December 13, 2018. Fred Dufour/Pool via REUTERS “Implementing tax cuts for small and micro enterprises is mainly to support employment,” Li said in comments posted on the Chinese government’s website. Developing and strengthening small companies is linked to economic stability and stable employment, he said. “Looking at the long term, this will continue to expand the tax base, conserve tax resources and ultimately achieve wins for mass employment, corporate profits and fiscal revenues,” he was quoted as saying, referring to the corporate tax cuts. Li’s … [Read more...] about China’s premier says tax cuts support employment, economic stability