All posts tagged: tax

Germany pushes back on US attack over streaming law – POLITICO

Germany pushes back on US attack over streaming law – POLITICO

Published by Sam Flores

Speaking to reporters in Berlin, government spokesperson Stefan Kornelius dismissed Greer’s warning that if implemented the proposal “would be at odds with the Turnberry Agreement.” Germany remains committed to “very close and constructive trade relations” with the U.S., Kornelius said. He also maintained the proposed obligations fall squarely within accepted cultural policy rules. “It is agreed that no unjustified digital trade barriers will be erected. And we are adhering to that,” the spokesperson said, adding that the investment obligations “do not constitute market access barriers” and that the funds would flow directly into productions that streamers themselves can exploit commercially. “This is therefore not a levy or a tax.” Kornelius also pointed to existing precedents, describing Germany’s proposal as “very moderate by European standards.” France already requires major streamers to invest at least 20 percent of local revenue into French and European productions, while Italy set its quota at 16 percent in 2024. Both operate under the EU’s Audiovisual Media Services Directive, which allows member countries to require platforms to financially support European works, and …

Jeremy Jeremy Clarkson burns Keir Starmer effigy after farming tax controversy

Jeremy Jeremy Clarkson burns Keir Starmer effigy after farming tax controversy

Published by Daniella Wilson

Get the latest entertainment news, reviews and star-studded interviews with our Independent Culture email Get the latest entertainment news with our free Culture newsletter Get the latest entertainment news with our free Culture newsletter Jeremy Clarkson had a fiery response to Keir Starmer after Labour’s proposed 20 per cent inheritance tax hikes, which Clarkson previously said could be “the end” for farmers. In the new season of Clarkson’s Farm, which premieres on 3 June, Clarkson decided to burn an effigy of the prime minister in place of Guy Fawkes on Bonfire Night. While educating farm companion Kaleb Cooper on the history of Fawkes, Clarkson said: “But you don’t have to have Guy Fawkes on the top of the bonfire; you can put anything you don’t like.” Jeremy Clarkson burns a Keir Starmer effigy in ‘Clarkson’s Farm’ (Jeremy Clarkson and Keir Starmer) Cut to Clarkson dressing up an effigy as Starmer, before prodding him with a stick while placing him at the top of the bonfire, days after Chancellor of the Exchequer Rachel Reeves delivered her …

Contributor: You don’t have to be wealthy to worry about California’s wealth tax

Contributor: You don’t have to be wealthy to worry about California’s wealth tax

Published by Sam Flores

Californians will face two competing tax measures this November. The first is the Billionaire Tax Act, a one-time, 5% levy on the accumulated net worth of the state’s richest residents. Lesser known is the Retirement and Personal Savings Protection Act, which would draw constitutional lines around what Sacramento can and cannot tax, prohibiting new levies on retirement accounts, personal savings and individually owned assets and banning retroactive taxation. Everyone with even just a little bit of money set aside — not just the California billionaires targeted by the wealth tax — should understand what these two measures represent. Start with the Billionaire Tax Act. The gap between what it promises and what it would deliver is stark. Joshua Rauh of Stanford University has run the numbers with his Hoover Institution colleagues, and the results cast doubt on the prospect of any revenue gain whatsoever. Proponents claim the tax would raise $100 billion. Rauh’s team found that billionaires have already been voting with their feet: Larry Ellison left California in 2020, and six others, including Google …

Trump wants a gas tax holiday. There’s a much bigger problem looming : NPR

Trump wants a gas tax holiday. There’s a much bigger problem looming : NPR

Published by Sam Flores

An American flag flies above a sign displaying gas prices at a gas station in Arcadia, Calif., on May 11. Mario Tama/Getty Images hide caption toggle caption Mario Tama/Getty Images Stay up to date with our Up First newsletter, sent every weekday morning. President Trump has called for a temporary waiver of the federal gas tax, which costs drivers 18.4 cents per gallon. It’s one of several attempts to relieve pain at the pump as voters grow increasingly frustrated with gasoline prices, which have hit four-year highs thanks to the oil trade disruption triggered by the war with Iran. A national gas tax holiday would require an act of Congress. Lawmakers have floated the idea, with several bills introduced before Trump called for a temporary pause on the tax. But even with the president’s backing, it’s not clear whether his proposal will make it to the floor for a vote. Gas tax holidays are controversial, with advocates arguing they provide quick relief and with critics denouncing them as costly and even counterproductive. Here’s what you …

Scandal after scandal lands Spain’s Sánchez on the ropes – POLITICO

Scandal after scandal lands Spain’s Sánchez on the ropes – POLITICO

Published by Sam Flores

This isn’t the only scandal affecting the Sánchez government, is it? No. Last June, Sánchez was forced to apologize after it emerged that his confidant and Socialist Party No. 3, Santos Cerdán, was under investigation for involvement in a massive public contract kickback scheme. Also caught up in that scandal was José Luis Ábalos, a former senior figure in the Socialist Party and transport minister, who had already been under investigation. Deepening the party’s embarrassment, evidence also emerged that Ábalos paid prostitutes on a number of occasions. Both men have denied involvement in the kickback scheme. Spanish Prime Minister speaks during a plenary session at the Spanish Parliament on July 09, 2025 in Madrid, Spain. | Pablo Blazquez Dominguez/Getty Images Ábalos has already gone on trial once, alongside his former adviser, Koldo García and businessman Víctor de Aldama, accused of taking kickbacks from the purchase of €50 million-worth of facemasks during the pandemic. They are awaiting the verdict but are expected to face trial again in the future over other probes. That all sounds pretty …

Hollywood stars who took on the tax man and won

Hollywood stars who took on the tax man and won

Published by Daniella Wilson

No one enjoys filing their taxes or having a large sum taken from their earnings for someone else to sort the admin. But these celebs will hopefully remind you that it’s worth taking the time to double check your figures, just in case. After all, we can’t all have lawyers ready to fight the tax man on behalf of A-list talent! Read on to find out which celebs found themselves in hot water with HMRC and how they managed to avoid top price or prison time. © Gilbert Flores/Golden Globes 202 Nicolas Cage avoided bankruptcy with a series of well-timed action movies Nicolas Cage When the tax man comes calling, avoiding jail time – and the headlines that come with it – is surely top priority for most stars. Unfortunately, Nicolas Cage had to sacrifice his Las Vegas residence when his house was foreclosed on by a bank in January 2010 after the IRS hit him with a massive tax lien. The star owed $6.2 million in back taxes but avoided bankruptcy with a series …

Nationalists promise Malta veto against proposed European Union online gambling tax

Nationalists promise Malta veto against proposed European Union online gambling tax

Published by skeptic

Malta’s opposition Nationalist Party says it would block any attempt to introduce a European Union-wide online gambling tax, arguing the measure would hurt Malta’s economy and weaken regulated operators across Europe. Speaking during a European Parliament plenary debate on future EU “own resources,” Nationalist MEP David Casa described the proposal as deeply damaging for member states with large regulated gaming sectors. “There have been many strange ideas when it comes to own-resources, but this is the worst one so far,” Casa said during his address. The proposed levy is part of wider EU discussions about creating new funding streams for the bloc’s budget. Parliamentary discussions cited during the debate suggested an online gaming tax could generate between €2 billion ($2.3 billion) and €4 billion ($4.7 billion) annually. Casa argued the measure would punish licensed European operators while giving illegal and offshore platforms an advantage. “A tax that will prejudice licensed EU companies, putting them at a competitive disadvantage,” he said. He added that the proposal would end up “pushing them to third countries and consumers …

The French far right’s weak spot: Economic incoherence – POLITICO

The French far right’s weak spot: Economic incoherence – POLITICO

Published by Sam Flores

While Bardella has enjoyed success courting the titans of industry — especially those executives belonging to CAC40, the index of France’s largest listed companies — Le Pen’s more recent attempts at engagement with business have been rockier. Politicians from rival parties are wasting no time in seeking to score points from the ideological schism at the heart of the nationalist, anti-immigration National Rally. “There’s the new generation National Rally that’s courting CAC40 executives, companies and business leaders … and the old guard that is pro-spending, pro-nanny state,” Édouard Philippe, the conservative main challenger to the far right, said this month. “You can count on me to condemn their posturing and U-turns.” Éric Zemmour, leader of the far-right Reconquest party, accused Bardella of going to “great lengths” to make it look as if the National Rally were right-wing while the party hierarchy — most notably Le Pen — had leftist economic instincts and wanted to hike taxes. Noting the divisions between Bardella and Le Pen, members of the far-left France Unbowed party said their presidential candidate …

Canada Tripling Netflix Tax U.S. Streamers Draws Skepticism

Canada Tripling Netflix Tax U.S. Streamers Draws Skepticism

Published by Daniella Wilson

After the American studios criticized Canada for raising its cash call on large U.S. streamers, skeptical local creative guilds and unions have raised questions around the CRTC’s latest Online Streaming Act ruling. Those are the same Canadian filmmakers supposed to benefit from the country’s TV czar slapping another 10 percent levy on foreign streaming platforms on top of an interim 5 percent obligatory expenditure on homegrown Canadian content production in controversial legislation often referred to as a “Netflix tax.”   The Writers Guild of Canada said the Canadian Radio-television and telecommunications decision was “a significant step forward” in the years-in-the-making OSA legislation, first made law in 2023 and now held up in the Federal Court of Appeals due to a legal challenge by foreign media players. On May 21, the CRTC ordered American digital platforms to contribute 15 percent of their Canadian revenues to subsidize local indie film and TV production, while reducing spending obligations on local broadcasters. But local screenwriters took issue with the TV regulator ending a policy of putting a priority on …