Things worth reading: 2nd June 2017
Chris Skinner
JUNE 2, 2017
The race to become Islamic banking’s fintech hub The super-rich are different: they pay less tax. The post Things worth reading: 2nd June 2017 appeared first on Chris Skinner's blog.
How Pilot Is Innovating Corporate Taxes For Millennial-Run Businesses
PYMNTS
MARCH 13, 2020
Tax season frustrations can blossom into real financial problems, especially when refunds are paper checks sent through postal mail. tax code changes passed in 2017 did not soothe these frictions, either, as they shifted income brackets and altered rates, affecting consumers’ refunds and earnings.
Millennials 
160
160 Join 50,000+
Insiders
Sign Up for our Newsletter
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Trending Sources
How Online Sales Tax Impacts Different eCommerce Models
PYMNTS
SEPTEMBER 4, 2019
Since 1992, when eCommerce was still in its infancy, online retailers have not had to collect sales tax. States can now tax sales by companies that do not have a physical presence within the state. Will this increasingly regulated online sales tax environment affect this growth? Online Sales Tax and Marketplaces.
Taxes 129
129 
Funding Options Criticizes UK Approach To Late SMB Tax Payments
PYMNTS
APRIL 16, 2019
tax authorities’ approach to small businesses that fall behind on tax payments. Reports in AltFi said Funding Options argued that the approach by HM Revenue and Customs (HMRC) to late tax payments is “too aggressive,” citing the high number of applications HMRC submitted to shutter small businesses.
Taxes 108
108 
Will eSports And Other Online Businesses Spike Digital Taxes?
PYMNTS
JANUARY 17, 2020
Historians and economists regularly look to tax policies to get a sense of what happened within a particular industry, society or country. No doubt the chronicles to come about the rise of the internet age and the spread of digital culture will include serious treatment of tax issues. Taxing Confusion. billion in 2022.”.
Taxes 132
132 
Navigating The ‘Hot Mess’ Of Online Food Delivery Sales Tax
PYMNTS
DECEMBER 13, 2019
In commerce, when it comes to taxes, new business models beget new (tax) problems. Against that backdrop, tax collection in the nascent restaurant delivery space remains fragmented at best — and confusing at worst. But in many cases, these firms may not be collecting sales taxes at all. billion received in 2017.
Taxes 131
131 
Things worth reading: 7th November 2017
Chris Skinner
NOVEMBER 6, 2017
Aldermore … The post Things worth reading: 7th November 2017 appeared first on Chris Skinner's blog.
Taxes 150
150 
Intel Unit Case Could Mean Billions In Taxes For Big Tech
PYMNTS
SEPTEMBER 3, 2019
A tax dispute between Intel and the Internal Revenue Service could cost large technology companies billions of dollars, according to a report by The Wall Street Journal. billion tax expense due to the case, and Alphabet turned around on a $418 million benefit. Facebook disclosed a $1.1
Taxes 116
116 
10 Trends in Bank Marketing for 2017 (Part I)
South State Correspondent
NOVEMBER 15, 2016
For 2017, a Trump Administration will bring more change, more volatility, and more uncertainty. Tax reform, trade, less regulation, higher interest rates and new programs will have households and businesses yearning for more financial analysis.
Trends 150
150 
China Turns To Tax Policy To Bolster Entrepreneurs
PYMNTS
MAY 7, 2018
China introduced new tax initiatives aimed at bolstering the nation’s entrepreneurs, according to local news reports on Friday (May 4). Vice finance minister Cheng Lihua introduced seven new tax policies during a press conference Friday, with the goal of saving small businesses $9.45 billion a year, reports from Xinhua said.
Taxes 100
100 
EU Wants US Tech Giants To Pay Revenue Tax
PYMNTS
SEPTEMBER 12, 2017
Germany, France, Italy and Spain’s finance ministers have announced plans to tax tech multinationals, such as Amazon and Alphabet Inc./ This news is just the latest sign that European politicians and regulators are uncomfortable with the growing strength of U.S. politicians, especially because of the amount of taxes in play.
Taxes 115
115 
Bitcoin, Peers Slammed On South Korean Tax Fears
PYMNTS
JANUARY 22, 2018
The financial publication Barron’s reported that regulations — new ones, rumored to be in the offing — were the impetus that sent the price skidding. As for the rumors (confirmed through a government announcement), in South Korea, several exchanges might be on the hook to pay taxes of as much as 24 percent on earnings from 2017.
Taxes 111
111 
Tax Reform Not Enough To Convince Corporates To Spend, AFP Finds
PYMNTS
MAY 3, 2018
Tax reform played a key role for several corporate successes in the first quarter of 2018. corporates both quarter over quarter and year over year for Q1 2017. ” Forty-four percent of survey respondents held larger cash and short-term investment balances by the end of the first quarter compared to the end of Q4 2017.
Taxes 100
100 
The Finanser’s Week: 15th May – 21st May 2017
Chris Skinner
MAY 21, 2017
Having submitted their third proposal for the bank, the regulator was still pushing back. Gartner found 76% of banks don’t believe … The challenge of being a challenger bank I recently met a start-up bank. They were depressed. This felt familiar. Having seen so many new start-up banks in Britain, I was familiar with the start-up process.
Survey 185
185 
London’s Airbnb Regulations Will Cost The Company $400M
PYMNTS
JANUARY 3, 2017
Airbnb has $400 million or so in losses in London to look forward to in 2017, thanks to new regulatory enforcement of the 90-night limit for hosts. If its listings hold constant, Airbnb could see its bookings in 2017 drop by a third thanks to the new rules. billion in 2017.
Regulation 114
114 
TurboTax Bid For Credit Karma Triggers Antitrust Worries
PYMNTS
MARCH 2, 2020
As the leader in DIY taxes, TurboTax has been dealing with escalating competition from Credit Karma, which is now a leading financial app among younger customers. Credit Karma started offering a free tax filing service in 2017. Regulators blocked the deal from going through.
Taxes 130
130 Colorado’s Marijuana Industry Tops $6B
PYMNTS
FEBRUARY 13, 2019
The Colorado Department of Revenue has revealed that the state’s regulated marijuana industry sales have topped $6 billion since sales began in 2014. In addition, taxes generated by the industry grew by nearly 8 percent last year. Last year, regulated marijuana sales in Colorado were nearly $1.55 billion the previous year.
Industry 155
155 
Bitcoin Daily: Malaysia Will Start Regulating ICOs, Russia May Invest In Bitcoin To Take On Sanctions
PYMNTS
JANUARY 15, 2019
Malaysia’s initial coin offering (ICO) regulations are said to take effect on Tuesday (January 15) per a notice from the Securities Commission (SC) in the country, Coindesk reported. At the same time, it was said that those who engage in digital asset dealing will have to follow rules for anti-money laundering (AML), among other regulations.
Bitcoin 108
108 
Buying into AML risks in real estate
Abrigo
JUNE 27, 2023
Regulations such as Geographic Targeting Order updates help identify AML risks by requiring identification for certain real estate purchases. The limited regulation around the real estate industry has made it especially easy for these bad actors to cycle their dirty money into the financial system using this avenue. In 2017, over 5.51
El Paso 195
195 
India Moves To Outlaw Cryptocurrencies
PYMNTS
APRIL 26, 2019
The Indian government has drafted a bill that would ban cryptocurrencies and attempt to regulate any official digital money, according to reports. . He is believed to have been running the scheme since around the crypto surge at the end of 2017.
cryptocurrency 182
182 
NYDFS requires regulated institutions to submit plans describing preparations for LIBOR transition by Feb. 7
CFPB Monitor
JANUARY 9, 2020
The New York Department of Financial Services has sent a letter to the institutions that it regulates requiring each such institution, by February 7, 2020, to provide to DFS a description of its “plan to address its LIBOR cessation and transition risk.” (LIBOR is the acronym for the London Inter-Bank Offered Rate.).
Regulation 78
78 GonzoBanker Awards 2017
Gonzobanker
DECEMBER 19, 2017
Heavy-handed regulators. Seriously, sit back with a pocket flask of Pappy Van Winkle, smoke a cigar (or your combustible of choice if you live in Colorado, California, Washington, Oregon, Nevada, Main or Massachusetts) and enjoy the 2017 GonzoBanker Awards. Malls, retail stores and even some bank branch closings proliferated in 2017.
Conference 101
101 
Local Governments Move In On Retail Vacancies
PYMNTS
MARCH 17, 2020
Craftmakers, according to the regulation, must sell as well as manufacture, with the retail side of the business-boosting commerce in mixed-use districts. The new regulations encourage interaction with the public by also mandating that the artisan businesses offer attractions such as tours and classes. and San Francisco. Starting Jan.
Retail 135
135 Wirex Rolls Out Beta Version Of Crypto Business Account
PYMNTS
FEBRUARY 28, 2019
Wirex, a cryptocurrency and fiat (real money) payments platform, is releasing a beta version of a regulated crypto-oriented business account, according to reports. to allow businesses to pay their corporate taxes in bitcoin. Last year, Ohio partnered with cryptocurrency company BitPay, and the state became first in the U.S.
Ohio 162
162 Turkey Is Most Difficult Market for Regulatory Compliance
PYMNTS
JUNE 14, 2017
Tax and accounting compliance can be an overwhelmingly monumental task as companies expand their geographic footprint. Not only do regulations vary from jurisdiction to jurisdiction, but the consequences of non-compliance vary greatly, too. There are also an “extremely high number” of tax rules.
Compliance 146
146 
Bitcoin Plunges Over 50 Percent
PYMNTS
JANUARY 17, 2018
Bitcoin wasn’t alone in its fall, as other cryptocurrencies lost value over investor concerns that regulators would take measures to curb speculation. At the time, police and tax authorities had reportedly been raiding local exchanges on alleged tax evasion charges. at 5:25 P.M. according to CoinDesk.
Bitcoin 126
126 
Economic Nexus Laws’ Unexpected Impacts On Restricted Substance Retailers
PYMNTS
SEPTEMBER 30, 2019
eCommerce sales tax laws are having unintended consequences in the tobacco industry. These laws were meant to make online sellers face sales tax requirements similar to those for retailers with on-the-ground locations, putting both types of businesses on equal footing. in 2017 had a 52.75
Retail 109
109 
US Banks Expected To Lose 200K Jobs To Technology
PYMNTS
OCTOBER 1, 2019
John Cryan, former Deutsche Bank boss, warned in 2017 that up to half of the 97,000-strong workforce of the bank could go. The reasons, according to the past report: economic expansion, regulations put in place after the recession that are improving the risk at banks and President Donald Trump’s corporate tax changes.
Technology 217
217 
Citi Says Issues Arise With Credit Card Interest Rate Calculations
PYMNTS
FEBRUARY 23, 2018
The company disclosed it “self-reported” the findings to regulators, said Reuters, as pertains to Regulation Z and the CARD Act. In other news gleaned from the filing, unreserved legal costs in their entirety have been estimated at $1 billion as of the end of 2017, down from the $1.5
Cards 109
109 
$500M Rescue Plan Considered For Debt-Burdened Taxi Drivers
PYMNTS
JANUARY 16, 2020
17) that would relieve medallion owners from tax liability for debt forgiveness. “We The city rejected the offer, which was contingent on NYC dropping regulations that would limit the number of ride-hailing drivers in the city. State and city leaders are planning to announce legislation on Friday (Jan.
New York City 178
178 FICO Survey: APAC Banks Expect Rise in Tax Evasion
FICO
MAY 25, 2017
million digital records exposed the dark deeds of dirty money and tax evasion and burst the bubble of pretense that the world is effective at dealing with corruption. One in five banks in Asia Pacific say that they expect tax evasion to increase 100 to 500 percent over last year’s levels according to a recent poll by FICO.
Taxes 40
40 India’s Struggling Yes Bank Sees Share Boost From $1.2B Offer
PYMNTS
OCTOBER 31, 2019
Regulators must approve it as well. The bank has had a tumultuous 2019, facing increased attention from regulators as well as scrutiny from investors, who are concerned about bad loans , lack of lender regulation and availability of capital. The deal is still awaiting approval by the bank’s shareholders and the board.
Regulation 100
100 
Regulatory Concerns Ease For The World’s CFOs
PYMNTS
DECEMBER 18, 2017
Amid these changes is a world of regulatory shifts, from tax reform in the U.S. 50 percent of North American CFOs believe large companies will benefit the most from tax reform , according to a new CNBC survey. 3 percent more Chinese CFOs reported they were less optimistic in Q3 2017 than they were in Q2, according to Deloitte.
Taxes 109
109 
EU May Create Algorithms To Find Anti-Competitive Pricing
PYMNTS
MAY 4, 2018
To find companies that may be using software to fix prices, EU regulators may create their own algorithms. Through an inquiry in 2017, the European Commission discovered that two-third of retailers use software tools to monitor prices from their competitors.
Regulation 123
123 
Nordea Accused Of Handling $790M In Suspicious Transactions
PYMNTS
MARCH 4, 2019
According to a report in Reuters , citing Finnish broadcaster Yle, which had access to leaked documents, the money came from companies registered in countries with tax havens, including the British Virgin Islands, Panama and Belize. The investment firm rates Nordea at underperform.
Virgin Islands 116
116 Nordea Institutes Cryptocurrency Trading Ban For Employees
PYMNTS
JANUARY 22, 2018
in December of 2017. Bitcoin wasn’t alone in its fall, as other cryptocurrencies lost value over investor concerns that regulators would take measures to curb speculation. At the time, police and tax authorities had reportedly been raiding local exchanges on alleged tax evasion charges. at 5:25 P.M., at 5:25 P.M.,
cryptocurrency 140
140 
The ICBA 22/23 executive committee is all in
Independent Banker
MARCH 31, 2022
We must also keep our focus on protecting the 2017 tax cuts and, as always, monitoring and confronting credit union overreach. Lucas White: We need to continue to differentiate community banks and educate policymakers on why tiered and proportionate regulation is necessary. We are not Wall Street banks—we are community banks.
Community Bank 239
239 Despite Plenty Of Concerns, SMB Optimism Holds Fast
PYMNTS
NOVEMBER 13, 2017
Small business owners have a lot on their plates today and, depending on who one asks, top concerns range from taxes to late invoice payments. Bank of America also found in a fall 2017 survey that nearly three-quarters of SMBs expect their 2017 year-end revenues to beat 2016’s figures.
Taxes 105
105 
Weird Commerce: ComplyRight, All Those Employment Regulation Signs
PYMNTS
DECEMBER 27, 2016
“Our overarching mission is to provide compliance services for small businesses, businesses that don’t have in-house attorneys or tech professionals, to provide the info that small businesses need to comply with employee management and tax reporting requirements,” said Susan Drenning, president of ComplyRight Inc.
Regulation 100
100 Citibank Agrees To Settle SEC ‘Dark Pool’ Claims For $12M
PYMNTS
SEPTEMBER 14, 2018
The company disclosed it “self-reported” the findings to regulators, as pertains to Regulation Z and the CARD Act. In other news gleaned from the filing, unreserved legal costs in their entirety have been estimated at $1 billion as of the end of 2017, down from the $1.5 billion, up from an earlier disclosure of $22 billion.
United States 134
134 
Trade groups seek clarifications to Military Lending Act regulations
CFPB Monitor
APRIL 11, 2016
Although the DoD’s final rule took effect on October 1, 2015, it will apply only to consumer credit transactions or accounts that are consummated or established after October 3, 2016 for most products, and after October 3, 2017 for credit cards.
Groups 60
60 
Indian Tech Startups Broke Funding Records In 2018
PYMNTS
JANUARY 4, 2019
In 2017, Indian startups got $10.4 Chinese funders were part of 43 funding rounds, which is up from 29 in 2017 and 25 the prior year. That number is down from the $988 million raised in 380 rounds in 2017 and the $1 billion in 430 rounds raised in 2016. billion in funding – the most ever. billion through 1,141 rounds.
Company 162
162 
Migration and the “Cloud Ceiling”: 5 Compliance Predictions for 2017
FICO
DECEMBER 21, 2016
That means 2017 should be a risky year from a compliance standpoint. To help in those efforts, regulators are requiring firms to improve their KYC programs with more detailed data and advanced analytics. Today, it’s really only Tier 1 banks that use analytics in AML, KYC and tax compliance areas. We expect that to change.
Compliance 40
40 
First Cannabis Company To Go Public Raises $153M
PYMNTS
JULY 20, 2018
million in 2017 and $5.2 Senate panel voted to block an amendment that would allow banks to open accounts for marijuana businesses without being punished by federal regulators. “It is a validation for us and the entire sector that [cannabis] is a global opportunity,” Kennedy said. “It It signifies a global shift in perception.”.
Company 144
144 
Let's personalize your content