Tax News

Canada Post flips to $194M profit in 2014

In a year in which it overhauled its business, phased out home delivery in many areas and drastically hiked prices, Canada Post made $194 million in profit before taxes last year, the Crown Corporation says. Canada Post shipped $1 billion worth of parcels in Canada last year, the first time that's happened. When international parcels are included, total revenue jumped to $1.5 billion and volumes…

  • Canada Jan budget surplus little changed … Reuters - 12 hours ago

    The Canadian government posted a budgetary surplus of C$2.21 billion ($1.77 billion) in January, helped by higher personal income tax revenues, the finance department … More »Canada Jan budget surplus little changed …

    The Canadian government posted a budgetary surplus of C$2.21 billion ($1.77 billion) in January, helped by higher personal income tax revenues, the finance department said on Friday. Revenue rose 1.5 percent to C$25.42 billion, lifted by a 7.3 percent increase in personal income tax revenue.

  • New Czech gaming law faces delay, tax … Reuters - 15 hours ago

    A new Czech law that will sharply raise taxes on betting companies could be delayed by up to one year until 2017, although the finance ministry is preparing a smaller … More »New Czech gaming law faces delay, tax …

    A new Czech law that will sharply raise taxes on betting companies could be delayed by up to one year until 2017, although the finance ministry is preparing a smaller tax rise until then, an official said on Friday. Deputy Finance Minister Ondrej Zavodsky said the new law was ready to go to the center-left government's …

  • Pedestrians walk past a show window of a clothing store at Harajuku shopping district in Tokyo
    Japan core consumer inflation grinds … Reuters - Thu, 26 Mar, 2015

    By Leika Kihara TOKYO (Reuters) - Japan's annual core consumer inflation ground to a halt in February, the first time it has stopped rising in nearly two years, keeping … More »Japan core consumer inflation grinds …

    Pedestrians walk past a show window of a clothing store at Harajuku shopping district in Tokyo

    By Leika Kihara TOKYO (Reuters) - Japan's annual core consumer inflation ground to a halt in February, the first time it has stopped rising in nearly two years, keeping the central bank under pressure to expand monetary stimulus later this year. Other data published on Friday didn't offer much solace with household spending …

  • Business community mixed on Alberta … CBC - Thu, 26 Mar, 2015

    Alberta tabled a budget today that will cost residents $1.5 billion in extra taxes, while still running a deficit of $5 billion. The reaction from the business community … More »Business community mixed on Alberta …

    Alberta tabled a budget today that will cost residents $1.5 billion in extra taxes, while still running a deficit of $5 billion. The reaction from the business community is mixed: relieved that there was no increase in the corporate tax rate, and concern that Albertans will have less disposable income in a time when the …

  • Pedestrians walk past a show window of a clothing store at Harajuku shopping district in Tokyo
    Japan February core CPI flat year on … Reuters - Thu, 26 Mar, 2015

    TOKYO (Reuters) - Japan's core consumer price index was flat in February compared with a year earlier when excluding the effect of last April's sales tax hike, … More »Japan February core CPI flat year on …

    Pedestrians walk past a show window of a clothing store at Harajuku shopping district in Tokyo

    TOKYO (Reuters) - Japan's core consumer price index was flat in February compared with a year earlier when excluding the effect of last April's sales tax hike, government data showed on Friday, the first time since May 2013 that it has stopped rising. The data could keep the Bank of Japan under pressure to ease …

  • Canada's Alberta hikes taxes, fees … Reuters - Thu, 26 Mar, 2015

    By Scott Haggett and Nia Williams CALGARY (Reuters) - The Canadian province of Alberta said in its budget on Thursday it will hike fees, boost taxes, cut spending on … More »Canada's Alberta hikes taxes, fees …

    By Scott Haggett and Nia Williams CALGARY (Reuters) - The Canadian province of Alberta said in its budget on Thursday it will hike fees, boost taxes, cut spending on healthcare and education, and tap its savings to overcome a massive drop in revenue from the oil industry. The province, whose oil sands are the largest …

  • Before close election, UK's Cameron … Reuters - Thu, 26 Mar, 2015

    British Prime Minister David Cameron on Thursday conceded he'd made mistakes during his five years in power during a special pre-election interview, but implored voters … More »Before close election, UK's Cameron …

    British Prime Minister David Cameron on Thursday conceded he'd made mistakes during his five years in power during a special pre-election interview, but implored voters to give him a second term to finish the job of rebuilding the economy. Opinion polls indicate neither Cameron's Conservatives nor the opposition Labour …

  • Quebec sees balanced budget in 2015-16 … Reuters - Thu, 26 Mar, 2015

    By Allison Lampert QUEBEC CITY, Quebec (Reuters) - The Canadian province of Quebec said on Thursday it will balance its books in 2015-16 following six consecutive years … More »Quebec sees balanced budget in 2015-16 …

    By Allison Lampert QUEBEC CITY, Quebec (Reuters) - The Canadian province of Quebec said on Thursday it will balance its books in 2015-16 following six consecutive years of deficits and vowed to continue to control government spending in the years ahead. Quebec Finance Minister Carlos Leitao reiterated his forecast for …

  • Oil production growth means no quick … CBC - Wed, 25 Mar, 2015

    Oil prices were in recovery Wednesday after a three-week slide that took West Texas Intermediate crude to a six-year low last week. "With the technological genie of … More »Oil production growth means no quick …

    Oil prices were in recovery Wednesday after a three-week slide that took West Texas Intermediate crude to a six-year low last week. "With the technological genie of horizontal drilling and multi-stage fracturing forever out of the bottle, the U.S. industry will be able to respond quickly and increase production if prices …

  • Workers put the final touches during the restoration of the Great Synagogue in Edirne
    Turkey unveils Great Synagogue as Jewish … Reuters - Wed, 25 Mar, 2015

    By Ayla Jean Yackley EDIRNE, Turkey (Reuters) - When the domes of Edirne's abandoned Great Synagogue caved in, Rifat Mitrani, the town's last Jew, knew it spelled the … More »Turkey unveils Great Synagogue as Jewish …

    Workers put the final touches during the restoration of the Great Synagogue in Edirne

    By Ayla Jean Yackley EDIRNE, Turkey (Reuters) - When the domes of Edirne's abandoned Great Synagogue caved in, Rifat Mitrani, the town's last Jew, knew it spelled the end of nearly two millennia of Jewish heritage in this Turkish town. As a boy, Mitrani studied Hebrew in the synagogue's gardens and, in the 1970s, dispatched …

  • Prentice says so-called "blame Albertans" comments misconstrued
    Alberta says balanced budget expected … Reuters - Tue, 24 Mar, 2015

    By Scott Haggett CALGARY, Alberta (Reuters) - Alberta, the Canadian province that is the largest source of U.S. crude oil imports, will ask citizens to pay more for … More »Alberta says balanced budget expected …

    Prentice says so-called "blame Albertans" comments misconstrued

    By Scott Haggett CALGARY, Alberta (Reuters) - Alberta, the Canadian province that is the largest source of U.S. crude oil imports, will ask citizens to pay more for health care and cut the amount of resource revenue used to fund government operations as it looks to return to a balanced budget in fiscal 2017, Premier Jim …

  • BOJ Deputy Governor Iwata poses for a photo after an interview with Reuters at the BOJ headquarters in Tokyo
    BOJ Iwata says hard to achieve 2 percent … Reuters - Tue, 24 Mar, 2015

    (Reuters) - Bank of Japan Deputy Governor Kikuo Iwata said it was difficult to achieve 2 percent inflation strictly within the central bank's self-imposed deadline of … More »BOJ Iwata says hard to achieve 2 percent …

    BOJ Deputy Governor Iwata poses for a photo after an interview with Reuters at the BOJ headquarters in Tokyo

    (Reuters) - Bank of Japan Deputy Governor Kikuo Iwata said it was difficult to achieve 2 percent inflation strictly within the central bank's self-imposed deadline of two years due to slumping oil prices and a bigger-than-expected hit on spending from last year's tax hike, the Asahi newspaper reported. Many analysts have …

  • Romania'S Finance Minister Valcov talks with journalists in front of the headquarters of Romania's corruption-fighting agency in Bucharest
    Romanian prosecutors find gold, Renoir … Reuters - Tue, 24 Mar, 2015

    By Luiza Ilie and Radu-Sorin Marinas BUCHAREST (Reuters) - Romanian prosecutors have widened a probe into former finance minister Darius Valcov, accusing him of making … More »Romanian prosecutors find gold, Renoir …

    Romania'S Finance Minister Valcov talks with journalists in front of the headquarters of Romania's corruption-fighting agency in Bucharest

    By Luiza Ilie and Radu-Sorin Marinas BUCHAREST (Reuters) - Romanian prosecutors have widened a probe into former finance minister Darius Valcov, accusing him of making unlawful business gains after discovering cash, gold bars and a French impressionist painting in his safe. Valcov, the most senior sitting politician in …

  • Tennis: BNP Paribas Open-Nadal vs Raonic
    Nadal returning to Queen's for Wimbledon … Reuters - Mon, 23 Mar, 2015

    Rafa Nadal will return to his old routine in a bid to recapture the Wimbledon crown later this year, confirming he has entered the traditional warm-up event at Queen's … More »Nadal returning to Queen's for Wimbledon …

    Tennis: BNP Paribas Open-Nadal vs Raonic

    Rafa Nadal will return to his old routine in a bid to recapture the Wimbledon crown later this year, confirming he has entered the traditional warm-up event at Queen's Club. The Spaniard has played at Queen's five times and on each occasion went on to reach the Wimbledon final a few weeks later, winning the grasscourt …

  • Turkey urged to shun Vestel's bid … Reuters - Mon, 23 Mar, 2015

    By Tom Miles GENEVA (Reuters) - The European Union and Taiwan have said a bid by Turkish appliance manufacturer Vestel to get Ankara to impose emergency import tariffs … More »Turkey urged to shun Vestel's bid …

    By Tom Miles GENEVA (Reuters) - The European Union and Taiwan have said a bid by Turkish appliance manufacturer Vestel to get Ankara to impose emergency import tariffs on mobile phones would probably be illegal if it is approved, according to documents published on Monday. Turkey notified the World Trade Organization …

  • Hon Hai, Tencent partner in electric … Reuters - Mon, 23 Mar, 2015
    People holding umbrellas walk in front of the headquarters of Hon Hai, which is also known by its trading name Foxconn, in Tucheng, New Taipei city

    Taiwan's Hon Hai Precision Industry Co Ltd on Monday said it has partnered Chinese social networker Tencent Holdings Ltd to develop opportunities related to electric vehicles, marking the latest tech foray into "smart" cars. Hon Hai, WeChat operator Tencent and luxury car dealer China Harmony Auto Holding Ltd signed an …

  • A photograph of the late former Prime Minister of Singapore Lee Kuan Yew is seen next to a condolence book for mourners, at the Embassy of Singapore in Taguig City, metro Manila

    Lee Kuan Yew, Singapore's first prime minister, died on Monday aged 91, triggering a flood of tributes to the man who oversaw the tiny city-state's rapid rise from a British colonial backwater to a global trade and financial centre.