Senate Finance Committee Chairman Max Baucus released a draft proposal yesterday for reforming the U.S. corporate tax code. In it, he proposed lowering the current corporate rate from 35% to less than 30% (he didn't specify an exact rate). In a perfect world, we would eliminate the corporate income tax altogether. Here's why: 1. Corporate taxes don't collect much revenue. Here's a look at how much revenue we get as share of GDP over time:
The New Republic's withering article on partners at Chicago law firm Mayer Brown "aggressively" competing with one another other highlights a huge problem plaguing BigLaw — partners screwing each other to get ahead.
All is not quiet on the Western Canadian tax front.
The Conservative federal government has enshrined into law a controversial policy that could dissuade foreign owned resource companies from establishing mining and energy subsidiaries in Canada, corporate tax lawyers say.
The Business Secretary backed yesterday’s publication by CentreForum, which said small and medium-sized firms are facing a £59bn funding gap over the next four years. The think tank said fast-growing companies are being held back because Britain’s tax rules treat debt finance more favourably than equity.
It called for a range of measures, including the abolition of stamp duty on all share transactions or, if the Government regarded this as too radical, just those on so-called “growth markets” like Aim.
For more than two years, developments at Unique Broadband Systems Inc. and its subsidiary Look Communications Inc. have kept teams of lawyers busy and shareholders shaking their heads, wondering when matters will end and they receive some value.
Mining lawyers are fairly bullish on 2013. They’re expecting at least two trends. First, mergers and acquisitions will gather steam as cash-rich mid-tier mining companies will target increasingly cash-poor juniors. Second, weakness in traditional public debt and equity markets will fuel alternative financings, such as joint ventures, streaming or royalty deals.
Khaled Abdel-Barr, a partner with Lawson Lundell LLP in Vancouver, sees favourable market conditions for acquisitions. “I’m generally quite bullish on an uptick in M&A in the Canadian mining space.”
By Invest Chief:Pandora (NYSE: P) is an Internet music service that certainly has seen its following grow over the past few years. Unfortunately, this can lead to more competition, as other firms want a piece of that pie.