MEXICO CITY — Walmart de Mexico said Monday it has paid the Mexican government the equivalent of about $359 million in taxes for its 2014 sale of a restaurant chain known as VIP's after tax authorities demanded it.
The payment appears to mark a victory for President Andrés Manuel López Obrador, who has railed against what he claims is tax evasion by big companies.
Walmart confirmed Monday it had paid the tax bill, but it was unclear if Alsea, the buyer, would have to pay anything as well. Alsea, which operates restaurant chains, claimed it had paid all its taxes.
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Republicans' latest proposed tax cut for the rich could permanently hobble future presidents -
At this point it's almost a pathology. Whatever the crisis, whatever the state of the economy, Republicans crave another tax cut for the rich.
A "capital gain" refers to how much the value of an asset (such as a stock) has increased over time. Taxes on capital gains are triggered only when the asset is sold. So if you bought a few shares of Apple stock when it IPO'd in 1980, your shares would be worth a fortune today — but you don't owe Uncle Sam a penny until you cash out.
Navigating the uncertainty around unemployment and taxes | kare11.com
Millions of Americans are filing unemployment claims during the coronavirus pandemic. However, experts say filers should be aware that this isn't free money, and there are some things to keep in mind so they don't end up with a surprise tax bill.
"In the past, unemployment benefits were only a couple hundred dollars a week" said Matt Schwartz with Great Waters Financial. "With the extra money being given to laid-off workers, your tax liability could be higher."
Walters: Tax hikes for California in the midst of recession? – The Mercury News
In the midst of a sudden recession that has erased, at least temporarily, millions of jobs, would Californians support a batch of new taxes to prop up state and local government services?
Gov. Gavin Newsom implicitly posed the question in his much-revised 2020-21 budget. It assumes a $41.2 billion drop in revenues from the initial budget he unveiled in January, pegs the total deficit at $54.3 billion and makes wholesale reductions in K-12 schools, higher education and other popular services to close the gap.
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How do taxes work on these retirement plan distributions? - nj.com
Q. I have basis in my traditional IRA. I converted a part of the account to a Roth IRA and my advisor explained using the "general method" for recovering both federal untaxed and New Jersey taxed contributions, and I've done this for additional conversions and also for my Required Minimum Distributions. Then I learned about the three-year rule to recover basis in three years. And now the CARES Act waived 2020 distributions and I can do another partial Roth IRA conversion.
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Generally, basis is created when you contribute to your retirement plan and it is not deductible for New Jersey state income taxes.
Digital Services Taxes: Comply with International Tax, Trade, and EU Law?
This analysis was prepared by a select group of JD candidates at the Institute of International Economic Law (IIEL) at Georgetown University in conjunction with TradeLab . All research and analysis was supervised by Georgetown faculty, Tax Foundation experts, and outside tax professionals.
With respect to international tax law, companies can challenge the DST based on bilateral income tax treaties. The applicable tax treaty and available claims depend on the challenging company's country of residence.
Hotel taxes forecast to fall by $36M, leading to expected deficit in city arts funding - Austin
With the city projecting a $36 million decrease in Hotel Occupancy Tax revenue because of lower hotel bookings due to the Covid-19 pandemic, arts funding for the current budget year is expected to see a $1.5 million shortfall.
The Arts Commission learned Monday that the city will cover all of the contracts to local artists that were drafted as part of the $11.8 million in funding the Cultural Arts Division expected to have this year. That will result in a $1.5 million deficit that will need to be paid back within one year, meaning there will likely only be around $7 million total for arts funding for the fiscal 2021 budget, which will largely be determined this summer.
If Education Means More Learning At Home, Cut School Taxes, Too | News, Sports, Jobs - Post
Parents who have had to add the title of teacher over the past two months have gained a new appreciation for teachers.
Those parents — particularly those who have tried to teach their child while still working their full-time jobs — desparately want to see school buildings reopen in the fall.
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We’re not talking about COVID-19, by the way. We’re talking about the actual price of education.
Happening on Twitter
#ÚLTIMAHORA La minorista más grande del mundo rinde cuentas al SAT: Walmart pagará poco más de 8,000 millones de pe… https://t.co/3xYMypvPiV Forbes_Mexico (from Ciudad de México) Tue May 26 00:38:38 +0000 2020
Walmart de México pagó 8 mil 79 mdp al SAT para concluir asuntos fiscales sustanciales que incluyen revisión a la o… https://t.co/SaAEIuKECY Reforma (from Av. México Coyoacán 40) Mon May 25 23:52:59 +0000 2020
Walmart de México le paga al SAT deuda de 8,079 millones de pesos por la venta de El Portón y Vips… https://t.co/Xnk1itantc SinEmbargoMX (from México) Tue May 26 01:30:00 +0000 2020
¡Las noticias! En la Ciudad de México se han perdido más de 150 mil empleos ante la pandemia; ingresos por export… https://t.co/9DzR4RoS32 lopezdoriga (from Ciudad de México) Tue May 26 03:08:31 +0000 2020
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