corporate-tax
Top StoriesItaly’s Windfall Tax on Energy Companies Needs to Be Rewritten – PM
TradingBarclays Beats Forecast on Trading Boom, but Bad Loan Charges Rise
Top StoriesAnalysis-Britain’s Finance Bosses Hope Sunak Steadies Ship After Market Chaos
Top StoriesRishi Sunak’s First Speech as UK Prime Minister
Czech Government Wants Windfall Tax From 2023, but Considers Earlier Start
Date: October 19, 2022
By Robert Muller and Jan Lopatka PRAGUE (Reuters) – The Czech government favours applying a planned windfall tax on profits in the energy and banking sectors from 2023, Finance Minister Zbynek Stanjura said on Wednesday, although taxing earnings this year was also under consideration. Czech markets were jolted on Wednesday on news the government could...
Banks Brace for Tax Hit to Help Plug UK’s Budget Gap
Date: October 19, 2022
By Iain Withers and Lawrence White LONDON (Reuters) -British banks are bracing for a potential tax hit to their profits as the government scrambles to plug an estimated 40 billion pound ($45 billion) hole in its finances. A source familiar with the British government’s plans said new finance minister Jeremy Hunt was reviewing the current...
Britain’s Political and Market Turmoil
Date: October 17, 2022
LONDON (Reuters) – New finance minister Jeremy Hunt scrapped Prime Minister Liz Truss’s Sept. 23 mini-budget and scaled back her vast energy subsidy plan on Monday, seeking to stem a dramatic loss of confidence among investors. British government bonds, currency and shares rallied after Hunt outlined the historic policy U-turn. He later said the government...
Goldman Sachs Sees Deeper UK Recession After Tax U-Turn
Date: October 17, 2022
(Reuters) -Goldman Sachs has downgraded Britain’s economic outlook and warned of a deeper recession next year after Prime Minister Liz Truss last week removed Kwasi Kwarteng as chancellor and scrapped parts of their unpopular economic package. The Wall Street bank revised its 2023 UK economic output forecast to a 1% contraction from an earlier forecast...
Factbox-UK Axes Economic ‘growth Plan’ to Restore Market Confidence
Date: October 17, 2022
LONDON (Reuters) – New British finance minister Jeremy Hunt on Monday announced almost a complete U-turn on Prime Minister Liz Truss’s plan to boost economic growth through unfunded tax cuts, which had sent international investors bolting for the exit. Here are some of the policy reversals announced by Hunt, which he said would raise 32...
Britain’s Bond Market Turmoil
Date: October 13, 2022
LONDON (Reuters) – British Prime Minister Liz Truss is rethinking tax-cut plans that sent markets into turmoil with a possible U-turn on business levies, media reported on Thursday, although her office said there would be no change of course. Truss is under pressure to change tack on an economic package that has roiled markets, with...