Taxes
"Nothing is certain except death and taxes," American statesman Benjamin Franklin told scientist Jean-Baptiste Le Roy back in 1789. While both dying and filling the state coffers are, to varying extents, pretty unavoidable, a "tax on death" is much less of a foregone conclusion. Inheritance tax is considered to be the first modern tax to have spread widely. By the early 20th century, more than 60 countries had introduced it, generally to raise cash for wars or to weather lengthy recessions. Inheritance tax was once out of favourTowards the end of the century, the levy had fallen out of favour....
Euronews (English)
Washington (AFP) - US President Joe Biden and First Lady Jill Biden publicly released their 2023 tax return on Monday, carrying on a tradition of transparency temporarily interrupted under predecessor Donald Trump. The annual, unwritten custom is designed to build trust in the White House. Other politicians as well as candidates often also take part. The Bidens earned $619,976 in 2023, most of which was derived from the president's $400,000 salary and Jill Biden's $85,985 compensation for her teaching job at a college in nearby Virginia. That number was up from the $579,514 the couple earned i...
AFP
Charities Avaaz, WeMove and Oxfam were joined by several young activists to highlight wealth inequality outside the European Parliament in Brussels. Protesters used an inflatable jet in order to draw attention to the lavish lifestyles of the super-rich. According to a report from Oxfam published in April this year, EU governments are losing out on €286.5 billion in revenue annually due to their failure to adequately tax the rich. The amount equals out to roughly €33 million per hour. Julian Desiderio, a policy advisor on tax and inequality at Oxfam Belgium told Euronews, "If we are able to hav...
Euronews (English)
Taxes. Even the most organized of individuals feel shivers when they hear the word. However, if you have the proper knowledge and guidance, you can navigate the complexities of tax planning smoothly and effectively. This blog post reviews the top 15 books on tax planning to help you optimize your tax situation, minimize your tax burden, and achieve your financial goals. There’s a book for everyone on this list, whether you’re an expert in tax planning or just getting started. 1. “Tax-Free Wealth” by Tom WheelwrightAn expert in tax law and tax planning, Wheelwright provides a comprehensive guid...
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The cost of living crisis currently sweeping across Europe is affecting most people in one way or another - but single people are potentially being hit the worst. Being single can be great for you, however, it could also come with a steep price tag. According to finance and insurance company Ocean Finance, UK singletons pay about £3,195.24 (€3,739.8) every year, on things such as rents, mortgages, utilities and more. UK and European single people have, over the past few years, been hit with disproportionately increasing costs compared to couples or families. This has led to the rise of a coine...
Euronews (English)
The UK’s public sector net borrowing, excluding public sector banks, hit a new record surplus in January 2024, the highest since monthly records started being maintained in 1993, according to the Office for National Statistics. Public sector net borrowing, not including public sector banks, saw a surplus of about £16.7 billion in January, which was more than twice January 2023’s surplus of £7.5 billion. However, it was still a just below analyst expectations of £18.7 billion. Total public sector receipts inched up by 3.4%, coming in at £119.5 billion, primarily due to increases in income tax, ...
Euronews (English)
Hawaii has long been a ‘bucket list’ destination for travellers the world over - but it’s also well known for having suffered from overtourism in recent years. Back in 2022, the island state in the Pacific begged visitors to stop coming in such huge numbers, saying thousands of tourists - especially from the US - were making the islands’ roads, beaches and restaurants practically unusable, especially for locals. That cry appeared to fall on deaf ears, especially since the first TV series of The White Lotus shone even more light on the tropical state as a desirable destination. Enough is now en...
Euronews (English)
According to the Tax Foundation, single average wage workers in Europe were paying about one third of their wages in taxes in 2022. Unsurprisingly, tax burdens across Europe vary significantly, with workers in Western European and more developed countries paying considerably more. Denmark (55.9%), Austria (55%), Portugal (53%), Sweden (52.3%) and Belgium (50%) are some of the countries with the highest personal income tax rates. On the other hand, Romania (10%), Bulgaria (10%), Bosnia and Herzegovina (10%), Kosovo (10%) and North Macedonia (10%) are the European countries with the lowest taxes...
Euronews (English)
Convoys of tractors are edging closer to Paris, Lyon and other major French cities with police arresting 18 people just outside the capital city on Wednesday. Last week, a woman and her teenage daughter died in southern France after a car hit a roadblock where they were standing. Tensions are rapidly rising and the president of France’s biggest farming union FNSEA, Arnaud Rosseau, called for “calm and reason” in the face of growing anger. He acknowledged that many European issues cannot be “resolved in three days.” France has scrambled to offer concessions with new Prime Minister Gabriel Attal...
Euronews (English)
Washington (AFP) - President Joe Biden's silence spoke volumes on Friday after his son Hunter's legal woes deepened with lurid allegations that he avoided paying taxes while spending millions on drugs and escorts. The 81-year-old president has long defended Hunter, even though the second set of federal charges against his troubled son are a fresh embarrassment ahead of an uphill battle to be reelected in 2024. As Hunter Biden, 53, said in an interview released Friday that Republicans were trying to "kill me" to destroy the Democrat's presidency, the elder Biden's approach was to stonewall ques...
AFP
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