corporate-tax
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Bp Expects to Pay up to 1 Billion Pounds in UK Taxes in 2022
Date: May 3, 2022
LONDON (Reuters) – BP said on Tuesday it expected to pay up to 1 billion pounds ($1.25 billion) in taxes in Britain on its 2022 profits, after its operating profit surged despite reporting a big writedown for exiting its Russian businesses. BP, which did not say how much British tax it paid in 2021, made...
UK’s Sunak Hits Out at ‘smears’ Over Wife’s Tax Status
Date: April 8, 2022
By Michael Holden (Reuters) – British finance minister Rishi Sunak hit back at what he called “smears” about his multi-millionaire Indian wife over her tax status, in criticism that commentators say has damaged his chances of being the country’s next prime minister. The row over the tax status of Sunak’s wife Akshata Murthy comes as...
UK’s Sunak Says His Priority Is to Cut Taxes
Date: March 18, 2022
LONDON (Reuters) -British finance minister Rishi Sunak said on Friday his priority was now to cut taxes having already taken measures to tackle the huge hole in the public finances caused by his pandemic public spending surge. “We’ve made the difficult decisions that we have to make,” Sunak told a conference organised by his Conservative...
UK Tax Authority Withdraws Winding up Petitions for Gfg Alliance Units
Date: March 7, 2022
By Eric Onstad LONDON (Reuters) – Britain’s tax authorities have withdrawn petitions to wind up four steel businesses of the GFG Alliance owned by commodities tycoon Sanjeev Gupta, following positive discussions, GFG said on Monday. Gupta’s family conglomerate GFG has been scrambling to arrange financing to rescue his businesses in steel, aluminium and energy after...
Deloitte Survey: Businesses in the UAE Need to Be Adequately Prepared for the Introduction of Federal Corporate Tax
Date: March 3, 2022
On 31 January 2022, the Ministry of Finance (MoF) announced that the United Arab Emirates (UAE) will introduce a federal Corporate Tax (CT) on business profits that will be effective for financial years starting on or after 1 June 2023. The introduction of a Corporate Tax regime in the UAE is a significant event for most businesses with broad implications...
Incorporating Your Business: Everything You Need to Know
Date: September 15, 2021
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