Tax notes today

Share to Twitter Share to Linkedin Elodie Lamer and Nana Ama Sarfo of Tax Notes discuss the tax implications of golden visas and passports, which allow affluent foreigners to receive residency or citizenship in exchange for a minimum level of investment. This transcript has been edited for length and clarity. David D. Stewart: Welcome to the podcast. I'm David Stewart, editor in chief of Tax Notes Today International . This week: good as gold. The idea of immigration often conjures up black and white images of huddled masses on ships in New York Harbor. People seeking new opportunities to make their fortune. But what happens for people who've already made their fortune and don't have time to wait in line for the normal process? And what about the growing class of remote workers who don't need to be physically anywhere? This week, we're talking about golden passports with Tax Notes reporter Elodie Lamer and Tax Notes … [Read more...] about First-Class Tax Opportunities: Golden Visas And Passports

Share to Twitter Share to Linkedin Every U.S. Tax Court opinion in an IRC section 482 case dutifully recites some variation of the necessary incantation: The IRS has broad discretion in applying section 482 , and its determinations must be upheld unless the taxpayer can establish that the IRS abused its discretion by making adjustments that are “arbitrary, capricious, or unreasonable.” However, a substantive discussion of how that vague formulation should be applied in transfer pricing cases is much harder to find, and the Tax Court’s decades of manifest refusal to defer to the IRS’s section 482 interpretations compounds the mystery and confusion. Before the Tax Court issued its opinion in Coca-Cola Co. v. Commissioner , 155 T.C. 145 (2020), the most substantive guidance on the matter arguably came from a 1935 case that predates section 482 and the Tax Court itself. In Asiatic Petroleum Co. v. Commissioner , 31 B.T.A. 1152, 1157 (1935), aff’d … [Read more...] about Reviewing Standard Of Review After Tax Court’s Coca-Cola Opinion

Bajaj Finance has announced good news for all its customers by revising its Fixed Deposit interest rate. One can now earn interest up to 7.35% p.a. The FD interest rate has been increased for all categories of investors and tenors, resulting in quicker growth of one's investment. The rise in the interest rate is applicable on all deposits made on or after 25 th April 2022. FDs are viable for new investors because of the rising fixed deposit interest rates. 2022 is proving to be a suitable year for many choosing to go this route, and one need only find the right issuer to enjoy a favourable experience. The increase in Bajaj Finance Fixed Deposit interest rate has made it a prudent choice as investors get an interest rate up to 7.35%, based on their investor profile and tenor. It is where the specialised FD interest calculator comes in handy, as it can be used to plan the investment for maximum returns. It is just one of the many features on offer, and to get insight on the … [Read more...] about Bajaj Finance Fixed Deposit interest rate increase. Latest FD rates up to 7.35% p.a. effective today.

Share to Twitter Share to Linkedin The Government Accountability Office (GAO) was asked to report on trends in IRS audit rates, audit results, and resources used for audits across individual taxpayer income levels. Their report, issued this week, analyzed audit rates and results and IRS resources used by taxpayer income for the most recent years data was available. According to the report, “In recent years, IRS has examined, or audited, a decreasing proportion of individual tax returns. This trend has raised concerns about the potential for declining taxpayer compliance, as well as whether IRS is equitably selecting taxpayers for audit, as audit rates for higher-income taxpayers have decreased more than audit rates for lower-income taxpayers.” On May 18, 2022 IRS Chief Taxpayer Experience Officer, Ken Corbin, and the GAO Director of Strategic Issues, James McTigue, appeared before the House Ways and Means Oversight Subcommittee (Bill Pascrell, D-NJ, chair) … [Read more...] about GAO Report Highlights Fairness Issues In IRS Audit Rates

Jens Ludwig is the Edwin A. and Betty L. Bergman Distinguished Service Professor at the University of Chicago, Pritzker Director of the University of Chicago Crime Lab, and an elected member of the National Academy of Medicine of the National Academies of Science. The views expressed in this commentary are his own. View more opinion on CNN. (CNN) In 1973, two psychologists came up with a clever experiment . They took a group of Princeton Theological Seminary students and asked them to walk across campus to give a lecture on the parable of the "Good Samaritan." Along their route, the psychologists positioned someone in a doorway, not moving, eyes closed, coughing and groaning as the study subjects went by -- someone, in other words, clearly in need of a Good Samaritan's help. There was a twist: Before the students left to give their lecture, some were told they were late. Others weren't told anything at all. That little variation in their situation made all the difference … [Read more...] about Opinion: The surprising solution to gun violence

Representative image Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × India’s telecom companies are likely to report a strong performance in the three months ended March, the first full quarter after tariffs were increased in November-December. Bharti Airtel , Vodafone Idea , and Jio Platforms, a subsidiary of Reliance Industries , are expected to report 7-9 percent growth in their average revenue per user (ARPU) on a sequential basis, according to analysts polled by Moneycontrol. Bharti Airtel reported an ARPU of Rs 163 per month in the quarter ended December, while Jio’s ARPU was Rs 151.6 and Vodafone’s was Rs 115. With the full benefits of the tariff hike, JP Morgan India expects the three telecom companies to report 5-7 percent sequential growth in revenue. “We expect 4QFY22 to be a strong quarter for telecom … [Read more...] about Telecom Q4 Preview | Average user revenue to soar, subscriber addition to suffer

Bharti Airtel Chairman Sunil Mittal (Image: Reuters) With only "two-and-a-half players" left in the highly competitive domestic telecom sector, the future of battle hardened Bharti Airtel looks good now, its Chairman Sunil Mittal said on Thursday. Speaking at a CII event, Mittal noted that the company has been through many ups and downs, including regulatory challenges and market competition, and is now better placed in the market. "The balance sheet is healthy, it's strong. And we are now down to two-and-a-half players for a country the size of India so the future looks good now. Now will there be one more crisis?… who knows but this company has become very very strong and battle hardened," Mittal noted. Noting that some of the salient features have been relentless focus on customer needs and customer satisfaction, he said, "we have been very hard on ourselves. I am the biggest critic of my own company". Recalling the challenging period, he said that it has turned out to be … [Read more...] about Battle hardened Bharti Airtel’s future looks good now, says Sunil Mittal

(Illustration by Suneesh K.) Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × Terming Metaverse as an "exciting phenomenon" that has "several use cases" for the various companies and industries beyond its initial enthusiasm, Krishnan Ramanujan, NASSCOM President & Head of Business & Tech Services at Indian IT outsourcing behemoth TCS noted that metaverse proffered a "significant space of opportunities for Indian companies." Observing the expanse of possibilities, Ramanujan said that the "Easiest opportunities would surely be in terms of employee onboarding and experience-related things. There are a lot of training, education, skill development related use cases. Beyond that, there are many opportunities that are currently in the ideation stage". "As time progresses and the metaverse technology matures, it will be able … [Read more...] about Metaverse an ‘exciting phenomenon’, says Krishnan Ramanujan of TCS

Preserving sports heritage in 3D museums, and creating new fanbases through the metaverse and NFTs - brands and sports organizations are taking advantage of digital to enrich the sports experience. (Representational image: Howard Bouchevereau via Unsplash) World over, the draw of sports is compelling. Tennis, football, cricket, baseball, basketball, soccer – we rally around the game that matters to us, in enthusiastic, loyal fandom, and come out in swaths to cheer for our favourite sport stars or teams. This really is a community activity. We begin watching games in our own groups – family, friends, school, local community – and cheer for the team that our group does – the one that we feel most connected to, that feels like home. So, when fans cheer, in many ways they are also celebrating the community that they feel they belong to in addition to those on the court or field. I find this insight fascinating, especially as a brand custodian. Because, like all keepers of … [Read more...] about Storyboard18 x Just Sports | Winning Fans. Spinning Digital Experiences

Share to Twitter Share to Linkedin It was a rocky week for Tesla shares– until Musk’s early Friday tweet. That helped the electric vehicle maker regain some lost ground. With a single tweet at 5:44 AM Friday, Tesla and SpaceX chief Elon Musk simultaneously placed his $44 billion Twitter takeover on hold and demonstrated the platform’s power to move markets. Twitter shares, which plunged in pre-market trading early Friday, ended the day down 9.7%, while shares of Musk’s electric vehicle maker rallied 5.7% Friday to close an otherwise challenging week down 11.1%. The fortune of the world’s richest person–worth an estimated $232.5 billion–rose by $9.5 billion Friday. His losses for the week were cut to $23.4 billion. The divergent fortunes of Twitter and Tesla shareholders are no surprise to Columbia University law professor John C. Coffee, an expert on corporate governance. “The two stocks are logically inversely related, since what is good for Twitter … [Read more...] about Elon Musk’s Early Morning Tweet Sends Twitter Shares Crashing, But He Ends The Day Billions Of Dollars Richer