The Hill: Liberal group launches database to track corporations’ response to tax law. “The website from Americans for Tax Fairness, called ‘Trump Tax Cut Truths,’ contains searchable data about the size of corporations’ tax cuts as well as information about bonuses, wage increases, job cuts, new investments and stock buybacks companies have planned following the law’s enactment. The database contains information about more than 800 companies.” I hesitated to include this as I try to be apolitical. But since the information is fact-based, like the size of a corporate tax cut and information on stock buybacks – I feel okay about putting it here.
The Observer (Uganda): Social media taxation aimed at promoting local content – Tumwebaze. “President Yoweri Museveni’s proposed taxation of use of social is purposely to curtail consumption of foreign content and use of foreign mobile applications according to minister of Information Communication and National Guidance, Frank Tumwebaze. In a March 12 letter to the minister of Finance Matia Kasaija, Museveni suggested that users of social media platforms such as Facebook, WhatApp, Twitter, Skype, Viber among others should be taxed ‘a small fee of Shs 100 per day.'” I think Shs stands for the Uganda Shilling. To give you a comparison, 1 United States dollar is worth 3,692 Uganda shillings according to Google. Of course, incomes in Uganda are very different from the US.
BBC: Google’s tax bill rises to £50m. “The technology giant’s annual accounts show that the company will pay corporation taxes of £49.3m on UK profits of £202.4m. Although the tax figure is the highest the company has paid – and up on the £36.4m it paid last year – it will be likely to reignite the debate about taxation and digital firms. The total value of Google’s sales in the UK is about £5.7bn a year.”
Yahoo News: EU to unveil digital tax targeting Facebook, Google. “The EU will unveil proposals for a digital tax on US tech giants on Wednesday, bringing yet more turmoil to Facebook after revelations over misused data of 50 million users shocked the world.”
The Washington Post: IRS releases tool that lets you make sure your employer isn’t messing up your taxes. “The Internal Revenue Service released a tool Wednesday designed to help millions of Americans ensure they are not dramatically underpaying or overpaying their taxes under the new Republican tax law. The online calculator allows taxpayers to compare how much their employer is withholding on their pay stubs to a government projection of how much should be withheld. The tool makes that calculation based on income, household size and other variables.”
Chicago Tribune: Illinois creates searchable database to locate active liens. “It just got easier for Illinois residents to search for tax liens. In a news release, the state’s Department of Revenue says it now has a searchable database where people can go to locate all active liens and releases filed by the department.”
Times of Malta: Malta company registry data to be revealed by ICIJ. “The International Consortium of Investigative Journalists will add data from Malta’s corporate registry to their offshore leaks database on Wednesday. Although the Malta Financial Services Authority runs its own searchable database, which is available upon registration, it does not allow for specific searches of company directors and shareholders.”