PYMNTS

OCTOBER 19, 2020

Two government officials from European nations have advocated to have watchdogs engage in preventative measures against Big Tech to reduce their strength and handle on the market, according to reports. OECD’s Tax Reform To Be Presented To G20. France Will Proceed With Controversial Digital Services Tax Plan. Regulation.

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PYMNTS

MARCH 12, 2019

Treasury official said a French tax plan targeting American digital companies is discriminatory against American businesses. Treasury’s top international tax official, called the taxes “ill-conceived,” and said the better option was to go after tax reform internationally at the Organisation for Economic Co-operation and Development ( OECD ).

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PYMNTS

JANUARY 29, 2019

Paying business taxes is a key source of friction for many legal marijuana companies in the nation, particularly for companies that operate on a cash-only basis. Under the state’s tax rules, prescription drug sales are exempt from gross receipt taxes. million refund. million refund.

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PYMNTS

OCTOBER 14, 2019

Italy is preparing to tax digital companies to help fund its 2020 budget as it seeks different revenue streams to avoid a scheduled sales tax hike, sources told Reuters on Monday (Oct. Companies with annual global revenues of $827 million and digital services of $6 million in Italy will be subject to the tax.

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PYMNTS

NOVEMBER 25, 2019

Amid the continuing drumbeat for taxes on global commerce done through digital means, the Czech government has approved a new seven percent digital tax on global Internet firms which will, as Reuters reports , be levied on revenues tied to Czech users across advertising, digital marketplaces and data sales.

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PYMNTS

FEBRUARY 7, 2019

tax reform led to much chatter and some confusion about exactly how changes would impact the nation’s small businesses (SMBs). Department of Treasury finalized rules that apply to SMBs on qualifying for a 20 percent tax deduction, with the National Federation of Independent Business (NFIB) applauding the initiative.

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PYMNTS

NOVEMBER 11, 2019

The state of Missouri is reportedly considering a ban on cash tax payments, a move that has raised concerns for local legal marijuana businesses that are struggling to obtain banking services and relying on cash to remain in operation. On a national level, the U.S.

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PYMNTS

DECEMBER 18, 2018

France, which had vowed to start taxing Google , Apple , Facebook , and Amazon in December if the European Union failed to agree on a digital tax, now says the tax will be implemented on January 1. If the European states do not take their responsibilities on taxing the GAFA, we will do it at a national level in 2019.”.

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PYMNTS

MAY 28, 2020

Halving also doubled the cost of mining, which saw inefficient miners ceasing operation. South Korea is pondering a modification to its tax law which could place taxes on cryptocurrencies. But individuals’ profits from virtual currency is not listed as income, they don’t end up falling under income taxes.

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PYMNTS

JULY 16, 2019

Treasury Secretary Steven Mnuchin believes that Facebook’s proposed cryptocurrency could pose as a national security threat. In a press conference on Monday (July 15), Mnuchin warned that Libra “could be misused by money launderers and terrorist financiers” and that it was a “national security issue.”.

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PYMNTS

SEPTEMBER 24, 2020

24), could put digital currency exchanges under one national structure, CoinDesk reported. In other news, the Ministry of Finance in Russia keeps advocating for digital currency industry rules through the introduction of new tax mandates, Cointelegraph reported. The Digital Commodity Exchange Act of 2020, which was proposed by a U.S.

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PYMNTS

SEPTEMBER 30, 2019

Scrutiny of tech firms is spreading across the globe, hinting at broader regulations over privacy and, possibly, bigger tax bills. In one example, Indonesia is “already preparing legislation” that would require tech companies with online services to pay value-added tax on local sales, the report noted. Libra, Too.

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PYMNTS

OCTOBER 24, 2019

Wayfair ruling gave states and cities permission to tax remote sellers and online marketplaces based on their economic participation in the state, regardless of whether they had physical presences. Online retailers aren’t sitting still when faced with new taxes — and some are even fighting back in court.

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BankBazaar

OCTOBER 1, 2022

Additional Reading: A Millennial’s Guide To Tax-Saving Investments. Say hello to the National Pension Scheme (NPS). NPS is an easily accessible and portable retirement savings instrument that is low cost and tax efficient. As per the 1961 Income Tax Act, NPS offers tax benefits of up to Rs.

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PYMNTS

OCTOBER 11, 2019

But along the way, global digital sales also carry a host of regulatory hurdles when it comes to satisfying various tax regimes. When [eCommerce companies] can’t get through the language barrier, the outcome is large-scale tax evasion, whether through ignorance, or whether through deliberate actions across the world.”.

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PYMNTS

JULY 19, 2018

According to the National Retail Federation , as of last year parents entered August with about 45 percent of their back-to-school shopping done. This year 17 states will have sales tax holidays of one form or another — up from 16 last year, but down from the national high of 20 states in 2010. How Tax Holidays Work.

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PYMNTS

MARCH 3, 2020

In today’s top news, Apple manufacturer and supplier Foxconn has returned to production, the Department of Justice charged two Chinese nationals with laundering over $100 million in cryptocurrency, and TurboTax’s deal to buy Credit Karma has sparked antitrust concerns. Two Chinese Nationals Charged With Laundering $100M In Crypto.

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PYMNTS

JUNE 19, 2018

Kenya’s biggest mobile phone operator, Safaricom , is against a proposed tax rise on mobile phone-based cash transfers. But Safaricom’s CFO Sateesh Kamath said the tax hike would only serve to discourage the drive towards modern payments systems. The proposed tax increases also included a new “Robin Hood” tax of 0.05

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South State Correspondent

JUNE 7, 2023

Bank ERC Background Bank ERCs is a refundable tax credit available to businesses, including financial institutions, affected by the global pandemic as granted under the CARES Act and modified by the Relief Act. For employers with 500 or fewer employees, all wages paid to employees can be qualified.

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PYMNTS

APRIL 18, 2016

In what might be a blow to taxpayers seeking help on the fly, the Internal Revenue Service is mulling the idea of disallowing walk-in visits by people seeking help on their taxes or those simply looking to make payments in person, WTOP reported on Friday (April 15). This is a pilot program under consideration, said Olson.

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South State Correspondent

MARCH 21, 2023

ERC gave eligible businesses a refundable tax credit of up to 50% of $10,000 for qualified wages paid per employee. Community banks can now white label this same product to onboard and process employee retention tax credits for the bank’s small business customers AND prospects. In 2020, the U.S.

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PYMNTS

AUGUST 28, 2019

While our industry is accustomed to cryptocurrencies operating 24/7/365 (like email), fiat currencies have for the most part remained shackled to ‘banking hours’ or ‘business hours.’ The sheer volume of transactions makes this a national security threat,” the party wrote in a post on its website.

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PYMNTS

JULY 26, 2016

For others, however, entire national economies can be affected. According to the UN Conference on Trade and Development (UNCTAD), that’s exactly what’s happening in some developing nations, in which invoice errors across Africa and South America are leading to the loss of up to two-thirds of commodity export value.

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PYMNTS

MARCH 19, 2020

The coronavirus could lead to tens of millions of unemployed workers and could change how businesses operate. Its estimates occur as the coronavirus outbreak has made nations limit citizen movements and make sure that lockdowns are followed in some instances. The International Labour Organization (ILO) said as many as 24.7

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Taxes National Retail Report 130

PYMNTS

DECEMBER 27, 2019

We have a deep dive into spend management in addition to news involving the Sprint and T-Mobile merger, as well as data on state tax laws. . A ‘Diaper’ By Any Other Tax Code: The Complexities Of Selling Across State Tax Laws. Gov’t Fights States’ Bid To Block Sprint, T-Mobile Merger Saying Move Would Slow 5G.

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South State Correspondent

NOVEMBER 29, 2023

One of the lessons that was driven home at the recent American Banker Small Business Banking Conference in Nashville was the difference in marketing between large national banks and community banks, particularly deposit marketing. Many banks fall into the “recency trap.” There is a reason for this.

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PYMNTS

JULY 8, 2020

For the restaurant industry, the government is slashing taxes and funding vouchers to make dining out more affordable on Mondays, Tuesdays and Wednesdays in August. To jumpstart housing, the government is reducing and eliminating taxes on transactions. In the U.S.,

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PYMNTS

JULY 3, 2018

As startups such as DadeSystems , FitPay and Jewel Paymentech expand across devices and functions, Tipalti , AvidXchange and Emailage announce new growth for their local, national and global footprints. Those that felt ready had invested in knowledge of local markets and tax codes, new tech and/or new vendors. Chargehound. DadeSystems.

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National Charlotte Regional Operations 101

PYMNTS

MAY 22, 2020

The measure limits independent contractors and the self-employed to borrow up to two months of their pay based on their 2019 income tax return or $15,385, whichever is less, toward forgiveness. If they can’t convince the SBA they met those requirements, borrowers have two years to repay it at a 1 percent interest rate.

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Ohio Taxes Guidelines California 248

PYMNTS

DECEMBER 23, 2019

Egypt is readying an electronic invoicing mandate for consumers to pay their taxes, an initiative that reports said will eventually expand to standardize invoicing in government procurement processes. Reports in Zawya on Monday (Dec. Reports in Zawya on Monday (Dec.

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Taxes Conference System Mobile 130

PYMNTS

JULY 21, 2020

Loews Hotels CEO Jonathan Tisch does not expect a return to significant national, international or business travel anytime soon, according to an interview he gave on CNBC ’s “Closing Bell.”. Tisch declined to provide occupancy rates at the two dozen luxury hotels Loews owns or operates in the U.S. It’s a challenge,” he said. “We

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Taxes Survey New York Security 189

PYMNTS

SEPTEMBER 9, 2020

Luno, which is headed by Co-Founder and CEO Marcus Swanepoel , has over 5 million worldwide clients covering more than 40 nations and almost 400 staffers, according to the announcement. In August, a large share of a group of mayors inked a deal to take payment for taxes through the country’s digital currency.

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Bankelele

JANUARY 8, 2018

Today, the Pambazuka National Lottery (PNL) followed partner Sportpesa in suspending its operation in Kenya following a new 35% tax that came into force on January 1, 2018. PNL, which is operated by Bradley Limited, interpretation of the tax change is that, whereas they had been paying out 55% out as prizes and 25% as […].

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Taxes National Operations 28

PYMNTS

JUNE 5, 2020

Citi ‘s Treasury and Trade Solutions (TTS) customers have increased their utilization of the firm’s digital banking technology, while firms globally implemented continuity plans and telecommuting to stay in operation amid the pandemic. million this March from 3.7 million in the same month last year.

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Report Online National Taxes 132

PYMNTS

MAY 19, 2020

BlockFi said it was “able to confirm that no funds, passwords, social security numbers, tax identification numbers, passports, licenses, bank account information, nor similar non-public identification information was exposed as a result of this incident.”.

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Data Bitcoin cryptocurrency Taxes 212

PYMNTS

AUGUST 6, 2019

“Louisiana represents a special market for MTrac,” said the firm’s Chief Compliance Officer Jason LeBlanc in a statement, who added that MTrac’s payments platform makes Louisiana “the first state in the nation that will not be subjected to the cannabis industry’s all too common ‘cash only’ environment.”.

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Louisiana Payments Taxes Maine 135

PYMNTS

APRIL 30, 2018

National Small Business Week is this week in the U.S., But analysts from Bank of America, Square, Navcom and the National Association for the Self-Employed warn that challenges for some SMBs have reached new heights, too. and finance experts are celebrating with new data on the state of the entrepreneurial community.

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