Standard Mileage Rates For 2022

The IRS issued the 2022 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning Jan. 1, 2022, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be: 58.5 cents per mile driven for business […]

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CTC And EIP Letters From The IRS

The IRS announced that it will issue information letters to Advance Child Tax Credit (CTC) recipients starting in December and to recipients of the third round of the Economic Impact Payments (EIP) at the end of January. Using this information when preparing a tax return can reduce errors and delays in processing, so be sure […]

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Positive news for business rates from the Chancellor

The Autumn Budget announcements included a series of measures to alleviate the burden of business rates in England. For 2022/23, 50% relief will be available for eligible retail, hospitality and leisure properties, and the business rates multipliers will again be frozen. 2022/23 measures The business rates multipliers for the current year have already been frozen […]

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Minimum wage to increase in 2022

From 1 April 2022, the rate of National Living Wage paid to workers aged 23 and over will rise by 6.6%, or 59p, to £9.50 an hour. Apprentices will benefit from an 11.9% uplift to their current hourly rate of National Minimum Wage. For full-time workers, the 59p increase equates to extra annual salary of […]

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BUSINESS TAX IN MOROCCO, Q/A with Salaheddine YATIM, CPA in Casablanca

Q 1: What is the Business Tax in Morocco ? A : The business tax (previously called the “taxe des patente” or “patente”) applies to all individuals or legal entities carrying out a non-salaried professional activity in Morocco. The business tax is due for one year, as soon as the company owns premises or land in […]

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Treasury sets aside CGT and IHT change agendas

Tax and Administration Maintenance (TAM) Day is a new phenomenon brought in by the Treasury to try and move away from the traditional all-in-one Budget. Following the first ‘Tax Day’ in March, the end of November saw another round of announcements. The government set out steps to modernise and simplify the UK tax system, but […]

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Fourth memorandum of amendment to the private member’s bill for the exit tax

The private member’s bill for an exit levy dividend tax from Groen Links is being amended for the fourth time. The aim of the bill is to secure the Dutch dividend tax claim on a company’s profit reserves as much as possible when a company leaves the Netherlands. This is done by imposing a dividend tax assessment […]

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TT357: When you get nudged do you push back or say you’re sorry?

People’s reactions to being nudged or jostled in the street vary a lot but there are essentially two kinds of reaction, either to puff up your chest and push back or to retreat as soon as possible and say sorry. Why then are our reactions often different when you are nudged by HMRC? In the […]

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Provisional income tax assessment 2022

The provisional income tax assessment 2022 is based on the most recent data available to the tax authorities. This may be the 2021 provisional assessment or the most recent final income tax assessment. When requesting an amendment to a provisional assessment, the Tax and Customs Administration proposes for the first time an optimal distribution of common deductible […]

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Health insurance premium percentages 2022

The Minister of Health, Welfare and Sport has set the premium percentages for the Health Insurance Act for 2022. The high premium will fall from 7.0% in 2021 to 6.75% in 2022. The low premium will fall from 5.75% in 2021 to 5.5% in 2022. The high premium is paid by withholding agents. The low premium applies […]

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Raising A Glass To Ireland’s Food And Beverage Sector

Ireland’s food and beverage sector has continued its strong performance of 2020 throughout 2021 – and this looks set to be maintained into 2022 and beyond, which will food for thought for domestic and international investors. When a company grows its annual revenues by more than €900 million in 11 years, then it should come […]

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