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| UNITED
STATES LAW AND TAX HEADLINES |
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IRS To Tighten Audit Screws In Search Of New Revenue
15/10/2008 |
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With the US economy slowing and the federal deficit rising, a much needed surge in tax revenue means that a growing number of taxpayers can expect to be audited, while Americans already burdened by tax debt will find it harder than ever to resolve their tax disputes with the Internal Revenue Service, according to one tax expert.
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Joint E-commerce Declaration Between Switzerland And US Signed
15/10/2008
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On October 10, Federal Councillor Doris Leuthard and the US Trade Representative Susan Schwab signed a joint declaration on e-commerce in Washington, D.C.
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STORY
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World Bank Hails The Americas' Free Trade Initiative
14/10/2008 |
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The World Bank and Inter-American Development Bank (IDB) has welcomed an initiative launched by 12 countries in the Americas to promote free trade in the Western Hemisphere.
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STORY |
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New York DA Gets A Pasting
13/10/2008 |
Robert Morgenthau, District Attorney for Manhattan in New York City, (pictured) recently
penned a vitriolic attack on offshore jurisdictions and the Cayman Islands in
particular for the Wall Street Journal. Dan Mitchell of The Centre for Freedom
and Prosperity has taken his own hatchet to Morgenthau's piece.
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STORY
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US Remains World's Most Competitive Economy
13/10/2008 |
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Despite growing concerns over its uncompetitive corporate tax rate, the United States remains the most competitive economy in the world, just ahead of Switzerland and Denmark, according to the World Economic Forum, which seeks to promote global entrepreneurialism.
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STORY |
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Uncertainty Shrouds WTO Verdict On China's Copyright Regime
13/10/2008 |
Both China and the United States are claiming victory in a long-standing dispute over China's copyright and trademark protection legislation.
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STORY
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More Bad News For US State Budgets
10/10/2008 |
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A new report by the Rockerfeller Institute of Government suggests that US state governments are edging ever-closer to a revenue-precipice, with the rapidly-weakening US economy expected to close off the gusher of income and sales tax revenues that has kept many a state budget afloat until now.
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IRS Extends Tax Credits For Fuel Efficient Vehicles
10/10/2008 |
The US Internal Revenue Service has acknowledged certifications by manufacturers that certain advanced lean-burn technology vehicles qualify for the alternative motor vehicle tax credit.
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STORY
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US President Urged To Sign Intellectual Property Bill
10/10/2008 |
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In remarks before the US Chamber's 5th Annual Intellectual Property Summit on Thursday, US Chamber of Commerce President and CEO Tom Donohue urged President George W. Bush to follow the Senate and House's lead and approve the PRO-IP Act.
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STORY |
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New Tax Rule Enabled Wachovia Deal
09/10/2008 |
A little-noticed but highly significant change of the rules on use of tax
losses made possible Wells Fargo's takeover of Wachovia Corporation last week,
and will probably enable much more restructuring of the US banking industry.
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STORY
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IRS Increases Interest Rates
09/10/2008 |
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The US Internal Revenue Service has announced in Revenue Ruling 2008-47 that interest rates for the calendar quarter beginning October 1, 2008 will increase by one percentage point.
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US States Hold Out The Begging Bowl
07/10/2008 |
US State treasurers are looking anxiously at declining tax revenues and frozen
credit markets at a time of year when even in good conditions they need to borrow
in the wholesale money markets to cover running expenses in expectation of a
seasonal bump in sales tax over the Thanksgiving and Christmas seasons, and
income tax receipts during the early part of the year.
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STORY
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Tax And Transparency Top Hedge Fund Investors' Agenda
07/10/2008 |
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Recent regulation, US congressional enquiries and pressure to adopt governance standards, have all increasingly challenged investors to consider and understand the tax and regulatory issues associated with their underlying investments, according to PricewaterhouseCooper's annual hedge fund review.
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US Treasury Sends Out Another Million Rebate Payments
07/10/2008 |
The US Treasury Department announced on Friday that it distributed 1.147 million stimulus payments, totaling USD672mn in the month of September.
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STORY
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Bail-Out Bill Passes Congress
06/10/2008 |
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The House of Representatives voted 263-171 on Friday to approve the administration's
USD700bn bail-out plan, after the Senate approved it earlier in the week and
President Bush immediately signed the bill into law as the Economic Stabilization
Act of 2008.
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Levin Bids To Crack Down On Speculation In Energy And Agricultural Markets
06/10/2008 |
Citing huge swings in the price of energy and food for American consumers, a trio of Democratic Senators, including Sen. Carl Levin (D - MI), (pictured), have introduced legislation to prevent excessive speculation and price manipulation in US energy and agricultural markets.
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US Tax Execs Support Senate's Simplified R And D Proposal
06/10/2008 |
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A majority of US companies (at least 60%) would either use or consider using the alternative simplified method to claim their research credit if Congress enacts legislation passed by the Senate, according to a national survey of the companies' tax and financial executives conducted by Grant Thornton LLP.
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WTO Supports EU In Fight Against US 'Zeroing' Practices
06/10/2008 |
EU Trade Commissioner Peter Mandelson has welcomed a report by the World Trade Organisation which he says backs up the EU's claims that the practice of 'zeroing' by the US as part of anti-dumping measures breaches world trade rules.
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STORY
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USA Ratifies The Singapore Treaty
06/10/2008 |
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The Director General of the World Intellectual Property Organization, Mr Francis Gurry, welcomed the ratification by the United States of America on October 1, 2008 of the Singapore Treaty on the Law of Trademarks, an international treaty on trademarks that streamlines and modernizes certain trademark office procedures.
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Hedge Funds Urge Regulators To Lift Short-Selling Ban
03/10/2008 |
Hedge funds have failed in their bid to convince the US Securities and Exchange Commission to overturn temporary restrictions on short selling, as the world's financial regulators continue in their attempts to restore some semblance of order to the roller-coaster US and global markets.
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STORY
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