What’s Going on in Finance from CFO
Congressional approval of a $680 billion tax bill last week may have “set the stage” for tax reform in 2017, The Hill reports.
The bill locked in a number of costly tax breaks that could be traded as part of future legislation that lowers the 35% corporate tax rate, which is widely cited as one of the highest in the world. Allowing the breaks to no longer expire makes it easier to lower the rate while not adding to the budget deficit, The Hill said. Read more.
Apple warned that the security of personal data for millions of people would be weakened and the tech sector “paralyzed” if a British proposal to give intelligence agencies extra online surveillance powers is enacted, Reuters reported today.
The U.S. technology company voiced opposition to the so-called Investigatory Powers Bill, which is intended to keep the country safe from Islamist militants, criminals, and fraudsters, according to the news service. Read more.
While job cuts are on pace to reach a six-year high in 2015, fewer oil-related layoffs are expected next year.
It’s the most cashed-up time of the year.
CFOs or similar finance executives can be personally fined £5,000 ($7,400) for failing to maintain appropriate tax accounting.
“Consumption is a big piece of it, and it’s chugging along.”
The bill locked in costly tax breaks that could be traded for a cut in the 35% corporate tax rate.
The median time for the SEC to decide appeals of the in-house judges’ decisions has increased to 19 months.
The tech giant slams a British plan to give intelligence agencies more online surveillance powers.
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