Crypto News 

France Rejects Crypto-Friendly Taxation Policies

“France has gotten in the way of a long list of new crypto-friendly tax regulations that seek to provide cryptocurrency merchants and their customers with more profits” writes Nick Marinoff for livebitcoinnews.com. The French Nationwide Meeting rejected the regulations on Monday, believing that the present rate of tax exemptions is fair, and thus warrant no changes.Surprisingly, one amendment left out of the Meeting was a 30 percent flat tax set to be implemented for all cryptocurrency transactions.Will France eventually see the light when it comes to cryptocurrency?.  Source: livebitcoinnews.com Share…

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GBP News 

High taxes could hasten bank moves from Britain after Brexit

“LONDON (Reuters) – Britain risks driving banks overseas if current high levels of taxation on the industry are maintained after Brexit, a bank lobby group said on Wednesday” writes Midwest Communications Inc for 95kqds.com. Banks face higher taxes than other firms in Britain, after an additional corporation tax surcharge and levy on assets were imposed after the crisis.UK Finance, which represents the country’s finance sector, has published research showing a typical bank in London has a higher tax burden than in rival international financial centres.Finance firms paid a record 75…

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News 

When Republicans decide to love an activist judge: The Affordable Care Act ruling exposes GOP hypocrisy

“Sebelius) the constitutionality of the ACA on the grounds that the individual mandate penalty was a tax” writes Arielle Kane for nydailynews.com. Conservative activists in Texas and 20 other state attorney generals challenged the constitutionality of the mandate now that the penalty is $0.The plaintiffs argued that since the individual mandate penalty — the tax — has been eliminated, the requirement to buy insurance without a penalty is illegal. The judge agreed and said with the elimination of the penalty the whole law is now unconstitutional. Source: nydailynews.com Share This:

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News Regulators 

The opposition to Amazon’s HQ2 is making lots of noise, but it lacks the legal authority to shut down the new campuses

“Yes, but: The opposition to Amazon is making lots of noise, but lacks legal authority to shut down the new satellite offices” writes Erica Pandey for businessinsider.com. The bottom line: “This backlash is serious,” said Nate Jensen, a professor at UT Austin who studies tax incentives. Source: businessinsider.com Share This:

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News 

What Happens to Obamacare Now?

“All those disturbances are reminders that while the bulk of the massive Affordable Care Act is the law of the land, it is still a rather delicate experiment” writes Newkirk Ii for theatlantic.com. In a scramble to counter those rollbacks, former President Barack Obama himself had to cut an ad promoting his signature policy achievement. Source: theatlantic.com Share This:

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News 

France to Levy Its Own Tax on Alphabet, Apple, Facebook and Amazon in 2019

“The tax is being referred to as the “GAFA tax” for Google, Apple, Facebook and Amazon France’s tax would pre-empt a prospective EU-wide tax that member states have been negotiating for the better part of a year” writes Annie Gaus for thestreet.com. But with disagreements by some member states, including Ireland and the Netherlands, on how to move forward with such a tax, the process has stalled.That’s the case in France at least, with French Economy Minister Bruno Le Maire saying that he plans to raise taxes on Alphabet (GOOGL) , Apple…

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News 

France goes it alone to levy digital tax on tech giants from January 1

“France will push on alone with a digital tax on big tech companies from January, finance minister Bruno Le Maire said” writes Matthew Field for telegraph.co.uk. As fellow European Union members continue to discuss whether or not to impose a tax, Le Maire said the French measure would come into force “no matter what” on January 1. The levy on direct sales, ad revenues and the sale of private data will cover big tech firms including Google and Facebook, which have been criticised for not paying a big enough tax bill in the…

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News 

Tax revenues rise 14% in 7 months on year

“During the first seven months of the present year, Iran has managed to receive over 70 percent of the tax income planned to be collected” reports tehrantimes.com. CBI has previously announced that the country’s tax income rose 14.1 percent during the last Iranian calendar year (March 2017-March 2018) to reach 1.15 quadrillion rials (about $27.3 billion). President Hassan Rouhani’s economic strategy is to significantly reduce the government’s dependency on oil and instead collect tax more systematically.The Iranian government earns budget from various sources including the revenues and offering capital assets…

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News 

France to intro tax on large internet, tech firms…

“Lionel Bonaventure, AFP | France will introduce its own tax on tech giants, said Finance Minister Bruno Le Maire on Monday” writes News Wires for france24.com. France will introduce its own tax on large internet and technology companies from January 1, Finance Minister Bruno Le Maire said Monday amid difficulties in finalising a new EU-wide levy.France has been pushing hard for a new so-called “GAFA tax” — named after Google, Apple, Facebook and Amazon — to ensure the global giants pay a fair share of taxes on their massive business…

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